The Captains Chest - Naked Trading & Other Stuff

[xrismak]

Hello,

And Finally
Again..I Did it Again this Month on Another Single Currency Pair....

USD-DKK One Thousand Pip Trade @_13-52-09 On 27-09-17.png

So we Reverse the Trade,

USD-DKK @ 17-29-47 on 27-09-17.png

Happy Trading Folks,
xrismak

[tradeitforex]

2017-09-29_11-54-32.jpg

Possible set-up lined with todays heavy data coming out of US and BOE Carney speech, dollar is looking weak across the board. lets see if MM will follow through...

[ngigliet]

Hi all
Am I the only one feeling more comfortable with short trade than long ones? Right now I'm still an early pratictioner, but I take 65%short trades (accuracy about 90%) and 35% long trades (70% accuracy)

I know that, as Captain teaches, this is not an ability game but a PROFITABILITY one so everything brings profit is wellcome... But It's just a tricky consideration.
Maybe I'll tray to turn upside down my monitor

I also prefer shorter timeframes because they give me more the risk measure... But I'll go longer timeframes as my 'swim' ability improves

[mjws00]

Heh.

You're not the only one. Short trades suit my eye much better. But for me a large part of it is from trading multiple instruments where the dumb money is almost always long, and the sharks are feeding off them.

I work very hard not to be a perma-bear. In forex I believe it can be a weakness. But there are lots of people that still look at a chart and want it to "GO UP!". I once had an Empty4 indicator or tool that would flip the chart for you. I'm sure google would find it for ya.

If you are winning consistently, there is really no reason why you can't focus on Shorts. There are more than enough good trades out there. But at the end of the day price is price. No bias is best. Where it gets tricky is you start seeing Tops everywhere and you can find yourself fading a hard rising trend. Been there, eventually you get burned enough times to learn not to do that.

Good Luck,

Mike

[rewand]

Study these patterns until you understand they are the same.

[georgem6002]

Study these patterns until you understand they are the same.

Can you state the reason for taking the trade for those of us still learning.


Thanks

[rewand]

Study these patterns until you understand they are the same.

Can you state the reason for taking the trade for those of us still learning.


Thanks

Page No1

[xrismak]

Can you state the reason for taking the trade for those of us still learning.

Thanks

georgem6002,

If you Give Yourself Enough Chart Time, After A While Picking the Right Trade Entries will Come to You Naturally because you will Understand Certain Patterns when you See them and Hesitation to Trade them will be a Thing of the PAST FOR YOU.

GBP-USD @_00-27-44 On 04-10-17.png

There is a Lot more that Goes into Ones Choice of a Trade at Certain Points but you will Know when to Enter Certain Trades with time... The Pattern Almost Always Never Changes but the Time Frame and When to Trade Particular Patterns is the Key Sometimes...

EUR-GBP @_00-28-43 On 04-10-17.png

Happy Trading Folks,

xrismak

[georgem6002]

georgem6002,

If you Give Yourself Enough Chart Time, After A While Picking the Right Trade Entries will Come to You Naturally because you will Understand Certain Patterns when you See them and Hesitation to Trade them will be a Thing of the PAST FOR YOU.

There is a Lot more that Goes into Ones Choice of a Trade at Certain Points but you will Know when to Enter Certain Trades with time... The Pattern Almost Always Never Changes but the Time Frame and When to Trade Particular Patterns is the Key Sometimes...

Happy Trading Folks,

xrismak

Thank you brotherly. You na Boss man.

You fit help me clearify the reason for those trades

[dydynamic]

georgem6002,

If you Give Yourself Enough Chart Time, After A While Picking the Right Trade Entries will Come to You Naturally because you will Understand Certain Patterns when you See them and Hesitation to Trade them will be a Thing of the PAST FOR YOU.

There is a Lot more that Goes into Ones Choice of a Trade at Certain Points but you will Know when to Enter Certain Trades with time... The Pattern Almost Always Never Changes but the Time Frame and When to Trade Particular Patterns is the Key Sometimes...

Happy Trading Folks,

xrismak

Thank you brotherly. You na Boss man.

You fit help me clearify the reason for those trades

Traders need to be patient and trade with what you can afford to hold onto in case of drawdown....
Count your levels from a Higher time frame and then drop to a lower time frame and enter your anchor trade with no SL as long as it will not hurt your account even if the market goes against you by a thousand pips....
always enter anchor trade with the lowest lotsize that your account can afford to accommodate in case of draw down.....
Xrismak your comment is required here asap....