The Captains Chest - Naked Trading & Other Stuff

[mjws00]

Heh. You'll definitely see some patterns on 1M xrismak. But notice how many times they throw a spike, and an M or W while driving it up the edge of the band. It gets pretty important to try and figure out which are meaningful. Playing that tight and small gives the fox a lot of opportunity to trick, trap and fake you out.

If you are nimble enough it sure is pretty how they work the same feeding patterns on every timeframe. Bait em, shift the zone, bait em again, shift it. Spke em out turn it back. Cool how often the second leg pays out. I couldn't make the bands work well on 1 min. They spend too much time hugging one edge. Basic SD zones and an ema for eyeballing how far they are pushing from the mean. Its like taking candy from a baby. Only the baby bites, and the spread eats too much of a percentage of profits.

If you can do it there, pulling it off when you are paying 1 pip to get 100, and have all the time in the world is a no-brainer. Plus they can't just spike it off your chart in one move (very easily).

Mike

[Reaper]

It seems the best time to trade would be from early morning like 4am to 18pm GMT. Then after the 18pm GMT the second reversal has happened and the market should go into range mode for the asian session with limited setups. Then you wake up at 4am, identify the asian session range, wait for the stop hunt if it hasnt already happened and hopefully it will show u the true trend of the day. Round about 13:00 GMT after the true trend has reach a new low/high, be on the lookout for a reversal. Finally close out your positions by 18:00. All whilst looking for additional quick scalping opportunities on the small timeframes using the "M" and "W" patterns.


Would you say this is about right CJ?

[mjws00]

Your location is London. You are golden. Get up one hour early for Frankie. (7:00ish) Glance at the chart to see WTF asia did. Watch for the fade. Take the main move of the day. Have your lunch because you are privileged enough to live in the right spot. Trade the afternoon possible turn during the crossover with NY. Stick around for the dead half of NY if it is moving and you feel like it.

I'd kill to live where you live. !!! I have to take an evening nap. Get up for 11-3,4,5 am. Rest. Try and reboot for NY open and turn. Then figure out how to do some real work for the day.

Mike

CJ has it almost as bad as me

[mjws00]

Hey Lio. Didn't look at them all yet. Here is a pretty picture with foxy glasses on EURUSD.

[Aus67]

Hey Lio. Didn't look at them all yet. Here is a pretty picture with foxy glasses on EURUSD.

Hey Mike great annotation!!

Talking about pretty pictures. Does this look familiar? CHFJPY 15min.
As CJ said you will see the same pattern on any pair, any time!

Gee has this opened my eyes! all we have is price!

chfjpy.jpg

[mjws00]

Yep shows correlation perfectly. EURCHF is artificially held and chopped. USDJPY pretty much held and chopped while they worked the crosses. CHFJPY is the love child. Just the odd spike thrown slightly a little differently to catch the current crowd at the time. I don't watch the interactions that closely, until they decouple. If the pattern is exactly the same... I'm unlikely to take the trade twice. It is one idea, so only gets one "lot" of risk for me.

Really is beautiful when it clicks. My jaw drops often when I see how well this is executed.

Mike

[Aus67]

Hi CJ
For me, a difficult aspect of learning to trade naked (not literally) is the lack of sexy indicators that fill my brain with price expectations.
Even though you have taught this expectation 'will be wrong' and my account, like many, will prove that is is wrong, the indicator is something for us to visually grab on to.

Naked trading as you teach it, does resonate with me and I know that if I, in time, can learn to trade this way it will be profitable. I know it is early days for me trading this way but I am still sensing a 'void' of information on the screen.

I have attached the AUDJPY 15min chart with what I think will happen to price in the next day or so. My projection is only based on my level of knowledge of 'the fox' and her tactics, so will most likely be way off the mark. If so, I hope you can say no it wont do that because of this!!

I find myself looking at a chart and thinking 'what now'?? What will the fox do now and where will I jump in?? and not really having a clue.

Is this the normal 'learning curve' for naked trading? or am I just unwittingly dim!

Thanks again for an amazing thread!
Daryl

audjpy.jpg

[Reaper]

I wonder why CJ doesnt trade the cable or the fiber so much?

[erikskenne]

A small catch here and there will make a big river some day, just have to handle the psyc

[Aus67]

Went long Usdjpy 1hr
Logic: Trapping volume under and around round number. Anticipate their stops to be taken out by the fox.

Well that is the theory anyway!

usdjpy.JPG