The Captains Chest - Naked Trading & Other Stuff

[Wavegarrick]

I have a feeling that I will walk a long road with BARF in times to come. :hi:

Thanks Guys

[ericjschroeder]

Wish I could play in the M15 like you guys but I'm in the wrong time zone, with a day job. Here's another reason I can't (shouldn't) trade in the middle of the night: I woke up and saw the Aud trades going the opposite direction and I cancelled my orders rather than leave them, which I should have done. Would be in a nice little profit now. Aargh. So that's an extra obstacle I have to overcome is learning how to place my trades before London opens, and in the right direction. Would appreciate advice from anyone who has or is doing this. Thanks.

[waza]

Eric use the 4hr hour then and that way you don't have to sit on the fence

[Wavegarrick]

Eric ,if it is of any comfort to you. I have held onto these trades since yesterday on Euraud, I know not easy for you guys in the States. I am sure Dydynamic is smiling now too.

Here I have cut back my positions already.
Nothing can beat naked trading..
All praise is due to CJ!

By the way Rewand, excellent trades and as a true follower of CJ you deserve it. :hi:

Cheers
Leon

[ericjschroeder]

Eric use the 4hr hour then and that way you don't have to sit on the fence

I do, and switch between D1, H4 and H1 but still don't have enough successful experience to wake up at 2am to check the H4 and make a trading decision (and still get enough sleep). This often seems to be the best time to get in on a move or reversal. Another seems to be 10am for me when I am at work. It is a bit frustrating but I'll keep at it. Thanks, guys.

[rewand]

I do, and switch between D1, H4 and H1 but still don't have enough successful experience to wake up at 2am to check the H4 and make a trading decision (and still get enough sleep). This often seems to be the best time to get in on a move or reversal. Another seems to be 10am for me when I am at work. It is a bit frustrating but I'll keep at it. Thanks, guys.

I also work and many of my trades are managed on mobile during working hours, not comfortable at all. Try to understand the full scope, you may want to use pending orders based on assumptions on where price should react. Many of us struggle with finding balance between family, life and work, and I am no exception. It is frustrating. Like this one, I have spent so much of time on it but it just does not want to drop. I have lost on this one already, tricked me few times. As if they know I am doing this at a time that I can hardly afford to use for waiting the pair to drop. It is a same but different pattern. Same-same but so different that it does not want to drop. And we are close to the time when they like to widen the spread. So what do I do? Try to learn from this.. level 2 up, maybe should have looked at long from W. But also it is at the end of L1 down, a prolonged stop hunting. Or I am just plain wrong with this one as it wants to go beyond 2950 before dropping again.

[ericjschroeder]

I also work and many of my trades are managed on mobile during working hours, not comfortable at all. Try to understand the full scope, you may want to use pending orders based on assumptions on where price should react. Many of us struggle with finding balance between family, life and work, and I am no exception. It is frustrating. Like this one, I have spent so much of time on it but it just does not want to drop. I have lost on this one already, tricked me few times. As if they know I am doing this at a time that I can hardly afford to use for waiting the pair to drop. It is a same but different pattern. Same-same but so different that it does not want to drop. And we are close to the time when they like to widen the spread. So what do I do? Try to learn from this.. level 2 up, maybe should have looked at long from W. But also it is at the end of L1 down, a prolonged stop hunting. Or I am just plain wrong with this one as it wants to go beyond 2950 before dropping again.

Yes, I try to check in on my laptop but do not have constant access to it. I do use pending of a sort; since I can write code I have my EA and scripts to place lines rather than actual orders so when price crosses it enters a trade. I am still testing my Emergency Exit which closes the trade if price goes 25% of my SL against but then draws the line back in so if price reverses again, I get in the trade, which is what I should have left alone this morning.

Clearly I'm no expert but this is what I see on the UC:

Price playing around a previous significant level on the W1:

USDCADiWeekly.png

and a possible H&S on D1 before going down:

USDCADiDaily.png

[dydynamic]

Eric ,if it is of any comfort to you. I have held onto these trades since yesterday on Euraud, I know not easy for you guys in the States. I am sure Dydynamic is smiling now too.

Here I have cut back my positions already.
Nothing can beat naked trading..
All praise is due to CJ!

By the way Rewand, excellent trades and as a true follower of CJ you deserve it. :hi:

Cheers
Leon

Yes Leon

[dydynamic]

Eric ,if it is of any comfort to you. I have held onto these trades since yesterday on Euraud, I know not easy for you guys in the States. I am sure Dydynamic is smiling now too.

Here I have cut back my positions already.
Nothing can beat naked trading..
All praise is due to CJ!

By the way Rewand, excellent trades and as a true follower of CJ you deserve it. :hi:

Cheers
Leon

Yes Leon

[dydynamic]

Forex is not random,I repeat, Forex is not random, it is a well calculated plan to steal your money legally.
But, no plan in the cosmos is foolproof and so there are always loopholes to exploit..
And this is why we are here, to help one another find those weaknesses in the fox...
I dream of the days I will skin the fox and make it squeal in pain and agony