The Captains Chest - Naked Trading & Other Stuff

[pips400]

Thanks CJ/Mike I wasn't sure I would get there. But I'm really grateful for what you've taught here. Got my L plates on for next week, think I'll trade demo for a bit so I can push this to it's limit and build some confidence, then I'll switch to my live account and get some payback. Still very early days yet, and watching you every step of the way

[Reaper]

Hey All, CJ, just so i'm clear, you have probably said before, sorry, do not trade in the asian range + expansion at all? Wait till a certain time e.g. 8gmt or 9gmt and then take opportunities? Thats best way right? Just sit out completely and watch.

Or can we confirm lets say the asian expansion took place already say at 7gmt for that day and we're firmly into the trend of the session and we can get in earlier?

Couldnt the expansion actually be part of an M/W pattern?

[mjws00]

I can't tell you how many hundreds of hours I've watched the asian session, either do nothing, or chop. But recently with Yen and Aud moving so nicely we see a little more movement.

In a perfect world they accumulate, and we can just come in around Frankie and London and see what's up. We fade their first wave. Sell the high of the day... perfect easy game. One of their edges is three shifts, so they mess with timing some. But they also can't avoid the fact that LON/NY is where the volume is for them to make the real money.

My two bits.

[Captain Jack]

Hey All, CJ, just so i'm clear, you have probably said before, sorry, do not trade in the asian range + expansion at all? Wait till a certain time e.g. 8gmt or 9gmt and then take opportunities? Thats best way right? Just sit out completely and watch.

Or can we confirm lets say the asian expansion took place already say at 7gmt for that day and we're firmly into the trend of the session and we can get in earlier?

Couldnt the expansion actually be part of an M/W pattern?

There's just not enough movement during Asian session. Towards the end is when they start positioning price to make a move. If you happen to find a large range, you might be able to scalp a few trades but for most it's hard to do.

I've taken trades here in the past and may do so going forward, but they tend to be in the 5-15pip range with large lot sizes. Most people should not do this....

Tonight, I would look for the "gap" to complete the "W" and "M" patterns that are showing in a lot of the pair and then for price to range into London....3:30-5:30am may see nice movement....

CJ

[BritShrtHair]

have been re-reading the thread over the weekend and must say:
this probably is one of the most valueable information I've read about forex.

Special thank you to CJ (and all other contributors.)

I took the liberty to search for the source files which CJ has posted in his first post.
See attached.

[Reaper]

Cheers CJ.

Okay where does everyone think USDCHF will go Monday/rest of the week?

[Pueo]

It's so great to finally get my head straight on so many parts of trading all at once!! I've been learning from Steve Mauro as well and the lightbulbs are really coming on. Finally, after 5 years of struggling, now its time to have some fun. I like his song, "the world's your candy shop, don't trade until they hit the stops".

I'm really happy with how I've got my template & I thought I'd share it with anyone who's interested. The time zones are all arranged for Cowboy IBFX. For simplicity I recommend just get a Cowboy IBFX demo and then you don't have to change anything. Thanks to Mike for the Auto Sessions!

You'll notice the dark green consolidation boxes, this is set for "euro sized" pairs, you would need to change it from 28 to around 50-60 for big movers like g/j. I find those boxes helpful to identify the asian consolidation zone. Sometimes the time box does the job, other times the cz box is great. Credits to fxhard at ff for his cz indicator.


PS. You'll only see the template with all of the boxes if you're on the 15 minute chart. I did this because I like it to look clean on 1 hour and 4 hour. You can change this in the indicator parameters > visualization.

Edit - sorry guys, I forgot one of the indicators, its there now 15z.zip

[hawassy]

Hello Everyone,

New hunter on board!
I found this treasure chest on Thursday, I've read all the 82 pages and finally I'm ready to write my first post.
I'd like to say a big THANK YOU, especially for CJ, the most active forum members and those who have written helpful summaries! Now it seems so evident for me that THIS is the right way to trade. I hope there'll be a day when I'll see the the charts the way as CJ does.
Because of my full time work I'll focus on D1 (and sometimes H4) charts.
Here are a few of my first ideas, I hope some of you will have time to write a short review about them, I'd really appriciate it!

Take care,
Greg

[Captain Jack]

It's so great to finally get my head straight on so many parts of trading all at once!! I've been learning from Steve Mauro as well and the lightbulbs are really coming on. Finally, after 5 years of struggling, now its time to have some fun. I like his song, "the world's your candy shop, don't trade until they hit the stops".

I'm really happy with how I've got my template & I thought I'd share it with anyone who's interested. The time zones are all arranged for Cowboy IBFX. For simplicity I recommend just get a Cowboy IBFX demo and then you don't have to change anything. Thanks to Mike for the Auto Sessions!

You'll notice the dark green consolidation boxes, this is set for "euro sized" pairs, you would need to change it from 28 to around 50-60 for big movers like g/j. I find those boxes helpful to identify the asian consolidation zone. Sometimes the time box does the job, other times the cz box is great. Credits to fxhard at ff for his cz indicator.

capture10.jpg

Looking good Pueo and thanks for sharing your setup with us.

I've got a veritable library of hardback, softback, ebooks, dvd's and training materials here, that I have accumulated over the years. My iPad is full of reading material...too bad those didn't come out earlier, would have saved some space! Some of the better stuff is by Martin Cole, Steve Nisson, and Tom Bulkowski. David Elliot, of WallStreet Teachers, who passed recently was of great help when I traded equities.

Steve Mauro's stuff was always out of my price range while I was 'educating" myself. I've always wondered if it was worth it. Have you attended his seminars Pueo? I believe he also has a monthly service you sign up for. Perhaps one day, I'll get a chance to attend one of his presentations. I'd be interested in hearing what his thoughts are as I have seen some of his promotional material. Looks interesting but I believe he stays to the 15M time frame only.

I'm glad the "lights" are starting to shine for you, maybe we can get a few more bulbs turned on here at Steve's place.

CJ

[lhDT]

For GBPUSD, a M top is forming and also forming the H & S top (trap for bear) after false break neckline, several Ws will be formed to kill shorts.

I'm not sure of the longer term but short term, both charts look good Jason....the key points are the "W" and "M" reversals...when you can spot those, it's usually money in the bank. Knowing the cycles helps keep you trading in the right direction.

CJ

"M" is a bull trap & "W" a bear trap no ?