The Captains Chest - Naked Trading & Other Stuff

[Elant]

Trade taken On Eurusd today.

The asian range was broken to the upside. I took this trade based on the fact that price reached my daily resistance at London open. Also in the sixths Zone. A cardinal rule I broke is that I did not wait for the M to form on the 15 min t/frame.

Nevertheless all turned out good> I am currently locked in at 40 pips profit with 70 pips if I close now.

Cheers
Leon

Hello,
I wonder how your trade is related to CJ's trading? No level count, no accumulation->stop hunt->3 pushes-> M/W pattern, no RRT/M/W pattern after 3 day cycle...

[Wavegarrick]

Hello,
I wonder how your trade is related to CJ's trading? No level count, no accumulation->stop hunt->3 pushes-> M/W pattern, no RRT/M/W pattern after 3 day cycle...

Refer page 77 of this thread. Revert a few posts back and you will see. You are too young to be asking such bold questions. Tread fine.....

[kola8701]

Hello,
I wonder how your trade is related to CJ's trading? No level count, no accumulation->stop hunt->3 pushes-> M/W pattern, no RRT/M/W pattern after 3 day cycle...

It's actually related. If you go through the thread and you do no get the W/M pattern sometimes , you can get in on RRT

[kola8701]

Ok Guys I was fortunate enough to find my first setup today.

1. Grab the asian range. Generally between 15 to 50 pips. This is the accumulation phase on low volumes.
2. Around London open, mark the asian hi/low range.
3. Wait for the asian breakout, no matter if it is to the upside or downside, you don't care
4. After 30 to 90min, mark the LOD/HOD (low of the day, high of the day).
5. Price will retrace a bit, now look for "M" or "W" patterns.
6. Enter short at the top, long at the bottom at the second retest. Look also for patterns like pin's, rrt, hanging man, etc in the M & W zones.
7. If all is ok you should be in profit.
8. Breakout traders are trapped in their breakout thing. They are now hoping the price will go at least at their entry price to exit at BE ... but price is now ranging, they are stuck ...
9. One hour after, the trend will resume and the price will be begin to drift in your direction forcing breakout trader to close their order, this will also accelerate the move.

The asian range on Eurcad was just over 60 pips which was a big range. I waited for London open and an M to form on the 15 min t/frame. There was a false breakout in london open, the reason I felt comfortable with opening this short is because we had a lower low on the daily t/frame.

Be careful between London & NY close, there should be a pullback if the range was big. This keeps a bit a the volume and money for the next day.

As lhDt mentions be careful between london and NY close so will be watching out for this.
Comments are welcome and it is a first for me and early days, but I am determined to get a hang of this now.

Cheers
Leon

Nice trade Leon. Do you look for confluence aside the M/W pattern after asian breakout?

I know counting levels does help but It's still usually hit or miss for me.

[Wavegarrick]

Thanks Kola,

I appreciate your input. I am a seasoned trader and yes I am learning a new method of trading which I will make mistakes, of course being naked trading. Railroad tracks is something I learnt years ago with Cj's method and if I am not mistaken Steve even put an Ea together for it a few years ago.

The crux is that I dont know how much I know until I practise something and only then will my learning experiences over the years come to the fore. For the time being I take as much advice and scrolling back over Cj's forum.

Cheers
Leon

[Elant]

Okay here is why I have asked. The asia range pattern Wavegarrik's trade was based upon was quite rudimental (no real range, no M pattern, no 3 pushes...). If I remember right Sympathy always waited for the M/W formation even it often looked somewhat unorthodox

Sympathy has traded the asia range/accumalation, SH, range extention, MW pattern mostly after a 3 day cycle. When he thought the cycle is finished (after the third level) he waited for the next day and then he has traded the above mentioned pattern as start of a new level 1 move.
So when I noticed Wavegarrik's trade I was interessted in if there was any wave count to support the trade or was it out of nowhere.

[Wavegarrick]

You joined on the 5th of march 2018,I am suprised how much you know and remember in such a short space of time, I do not wish to partake in this thread at all anymore. Take care chaps.

Cheers

Okay here is why I have asked. The asia range pattern Wavegarrik's trade was based upon was quite rudimental (no real range, no M pattern, no 3 pushes...). If I remember right Sympathy always waited for the M/W formation even it often looked somewhat unorthodox

Sympathy has traded the asia range/accumalation, SH, range extention, MW pattern mostly after a 3 day cycle. When he thought the cycle is finished (after the third level) he waited for the next day and then he has traded the above mentioned pattern as start of a new level 1 move.
So when I noticed Wavegarrik's trade I was interessted in if there was any wave count to support the trade or was it out

[Wavegarrick]

Hi Guys,

I have with Steve's advice, decided that I will continue posting here.

There is alot of work ahead if I want to get on top of these 3 level pushes etc. I will start reading through the thread on the weekend.

I have been concentrating on the 15 min time frame which relates to intra day trading as described on pg 77.
If I get it wrong so be it. Trust me when I write this. 20 others will learn from my mistakes. If you are a pro at naked trading or it is not new to you, please I appreciate your advice and I am sure 20 other will appreciate it too.

All I am asking is that we respect the ethos of SHF and each other.

Have a great weekend.

Cheers
Leon

[rewand]

Hi Guys,

I have with Steve's advice, decided that I will continue posting here.

There is alot of work ahead if I want to get on top of these 3 level pushes etc. I will start reading through the thread on the weekend.

I have been concentrating on the 15 min time frame which relates to intra day trading as described on pg 77.
If I get it wrong so be it. Trust me when I write this. 20 others will learn from my mistakes. If you are a pro at naked trading or it is not new to you, please I appreciate your advice and I am sure 20 other will appreciate it too.

All I am asking is that we respect the ethos of SHF and each other.

Have a great weekend.

Cheers
Leon

Great, when you master the daily mm routine, and I do advice to annotate all stuff on chart (even baitline and the range that is created by fox before session end for the next fox, the extention, etc, everything that CJ mentions) you will see what makes up 1 single day. Also you will see what makes up the overall routine, how the levels and patters get created.
Always think of price moving in 3s (including shs and topping formations!). Think of symmetry and timing! This is why CJ refers to pa being familiar after a while as a song, that we know what comes next.
Levels: 3 push starts from the retrace of the levels. From one level to the next there has to be 3 levels on lower tf. Pushes/levels are the same, you just see them differently on different tfs. Good luck!

[waza]

my eur/jpy