The Captains Chest - Naked Trading & Other Stuff

[Reaper]

None of my patterns want to complete. I think they are going to range.

[Mescalitofx]

CJ are we ready for a last PUSH up to form the 3 rise UP on <GBPJPY> before a Good DROP.

check how it is forming A BIG M on the higher TF. we are in /\ needs / up now i think....

blue are smaller TF for 15 min.

[Kruspe]

Hi guys, how did you manage your trades today ? I made only 25 pips (3 trades).. Today´s market was unreadable for me...probably because of many sideways moves etc. Btw I can´t open trade and stay looking at chart... This way of trading ruins my profits because I always close my positions sooner than they reach TP. ... When I want to get better results I have to set TP/SL and go somewhere else - proved

Tomorrow is the new day

[Captain Jack]

Hi CJ - here is a snap of the H4 NZDJPY. Have 5 pins to the high, which would indicate a down move is coming. But, only 3 levels of rise. So we would anticipate another level of rise, correct? Also, if the current 5 candles were after a 3rd leg is formed, where would you enter? At the break of the lowest wick in the group or some other point.

Took some time off today....yes, the pins indicate downward pressure....here's an update...

There was a stop hunt that took place and a long downward pin formed. This indicates another up leg, possibly to test the previous high....it the 3 level completes, a large "M" is forming....this could be the sign for a nice break lower off the peak high.....we need to watch for the old highs to hold or break. If the old high is held, then price should drop. If a new high is established, price may continue upwards...

CJ

[Captain Jack]

Hi guys, how did you manage your trades today ? I made only 25 pips (3 trades).. Today´s market was unreadable for me...probably because of many sideways moves etc. Btw I can´t open trade and stay looking at chart... This way of trading ruins my profits because I always close my positions sooner than they reach TP. ... When I want to get better results I have to set TP/SL and go somewhere else - proved

Tomorrow is the new day

I didn't take as many trades today as I took some time off. Set some this morning and left them to their own accord. Had a couple stop out as well as several hitting the 50 pip TP targets after some early morning success...

I should have left the 50 pip target for the EUR pair and they would have closed at that level. However, when I placed those trades, I removed the TP levels as I expected stronger moves into Friday. The trades are still open as placed.

There was a very large put option for 900million Euro in the London session.... it has a 2 week expiration date....????

CJ

[Captain Jack]

Yop CJ,

What about that ? I'm short and when I see all those "long" trades I'm becoming a bit confused

Closed my shorts for +27 & +6 and opened a long.
That's a "W"

Saw your earlier post on the "W" Lio....you are doing it right.

Many times, I'll take early entry on the 1st legs and cash out at times in the middle, but this morning, I set my longs and left them to their own...could have had an easy 50 pips on all of them, but they are still open....

Nice work! I think you are getting the hang of it!

CJ

[Captain Jack]

beginning to see more

my profitfactor is 11.89 now doing 40 trades.

hard to break the record of CJ, but if i can keep it like this, i am very happy.

still fighting to stay longer in the trade. i need to get acostumed to get so much pips from the tables. when i get 2 % i prefer to bailout and take my profits.

drowdown was max 0.25 % and the gain 3.08 (for 3 weeks)

Next step: persistence do the same month by month....

the spread monitor is a cool thing since you see if it was the fox triggering it.
look arround marketclose(1 min before) spread widening.

another nice effect on the GBPJPY, i saw several spikes down of 80 pips. foxy pushing till TL and going back up. with a spread increase the last days.... cool. seeing troughing the smoke litle by litle...

There's no race here Gerry. Goal is to add profit to account and knowledge to person. I think you are moving in the right direction.

Don't get locked into one time frame. There is a bigger picture out there that helps with all trades taken. Level count is key is finding the best setups. When you do find one, hammer it hard, from one end to the other.

The smoke lightens each day until one day, all you have left is the clear blue sky!

CJ

[Captain Jack]

Demo'd on Empty4 last night on 5 min chart. Two words? I sucked.

All you got below M15 is pain and suffering !

I've heard that somewhere before Lio...

CJ

[Captain Jack]

CJ are we ready for a last PUSH up to form the 3 rise UP on <GBPJPY> before a Good DROP.

check how it is forming A BIG M on the higher TF. we are in /\ needs / up now i think....

blue are smaller TF for 15 min.

I think that's a good trading plan for GBPJPY....it could test the previous high after the 3rd push higher... I'm long the pair as well...

CJ

[Captain Jack]

Yop CJ,

What about that ? I'm short and when I see all those "long" trades I'm becoming a bit confused

Good call Lio. Trade them both ways. I took entry on the 1st pin to the downside and hit it well...should have kept my 50 TP target but didn't plan to be around today so I took it off to let them run if they did. I'm still long....

CJ