The Captains Chest - Naked Trading & Other Stuff

[Reaper]

does the second high in the M formation need to be lower or equal to the previous high? Or can it be higher and the pattern still hold?

[Captain Jack]

You are too generous and transparent man. You know some of us keeners will plot and study each one of those, right?

You earned the sip, and the nap. Hell I felt like I'd earned mine and I quit an hour earlier

Thanks.


You took the words right out of my mouth Mike - I'm sitting here checking each entry and exit and doing my best to see what the captain saw

Many thanks for this CJ - not many traders of your calibre would share their actual trades. It makes it so much easier to understand your trading style when you can actually see the trade details. Oh well back to line 25 of the account printout.

Lara

Don't look to close...there's a lot of counter trend scalps that I stuck myself with back early in the account. I lost power here for 10hrs and missed the entire London session, where those would have paid off. Some were never closed or tended and a lot of the losses come from this bunch of trades.

There's some real stinkers in there too, like when some moron clicked the wrong button for sell or buy and got the wrong side of his trade. not much to do about those but eat em when you find them again.

CJ

[Reaper]

I see on the daily for GBPCHF a W formation. Probably be a good time to go long for 300 points if I had the patience to hold it for that long I'm not sure.

[sat79]

Am I on the right track here? looking for a W..

Hello Pueo...
What ADR and High/Low indys you are using?
Can you share or throw link from where to find?
I have try to find but havn't find anything what I like yet...

[Captain Jack]

My H4 closes in 3 minutes. A couple of Pin alerts.
For a learning process, which one are the good ones ?

The USDCHF probably won't hit the limit order....they already stuck SHORTS there....

EURNZD is extended consolidation after the large down move....trapping a ton of volume here.....while holding the LOW....

EURUSD as well as the others..."W" and "M"'s all over....all trade possibilities....

CJ

[hodgires]

Hi CJ, thanks for starting this wonder thread and sharing your trading style.

I am still a struggling trader, and i have come to see that besides having a good point of entry and exit(as your showing us), the one thing the majority of loosing traders do not understand is the money management aspect of trading. In light of this, can u show us a bit of your money management technique, as i think this part of trading determines 70% of any traders success rate. I think it would be the iceing on the cake for us newbies, it will be a great benefit if we can learn from how you manage your trades as well. Many thanks.

hodgires

[Captain Jack]

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

Pretty well spot on Mike....looks like you are the substitute teacher when I go fishing!

CJ

[Captain Jack]

Aus67, Marked up your drawing. I don't know crap, but that long scares me. 30 pips and I reverse it, if they don't slam it through to retest the highs. You read the W perfectly, the broader picture is the bit that scares me. This is a crazy pretty reversal pattern.

You might chop all the way through Asia and into London before they move this.

I'm usually early, so you may get your leg on the larger TF. I sell this MOFO, and morgtage the house to do so when they show their hand. Or if Asia tests hard first, or just shoves it down without retesting.

I'll defer to the master. Just two bits.

Mike

Step back and take a look at the bigger picture....where are you in the weekly cycle? This plays a major role in what happens next...on the chart though, price will rise into consolidation here from the "W"...

CJ

[Captain Jack]

what is the most common TF you guys are watching ?

15M for trade entry and exit and 1H for scans to see the weekly cycle....

CJ

[Captain Jack]

there wasn't a very good explanation of the RR tracks. can you guys explain a little more for me ?

Enjoy!

http://www.youtube.com/watch?v=LEu0p00f3YI

CJ