The Captains Chest - Naked Trading & Other Stuff

[bluedog23]

aud jpy m15.gif

Nice moves in the AUD pairs this evening. Looking for those "M" patterns.

[bluedog23]

gbp aud m15.gif

Here's one more with a nice "M" pattern. Got in a bit later on this one.

[Sojourner]

W on the EURUSD too.

AND a gap to fill.

[Larryk]

gbp aud m15.gif

Here's one more with a nice "M" pattern. Got in a bit later on this one.

You may be correct, but on the daily TF you will see quite the opposite viz an apparent W formation at the bottom of 3 moves down.

Larry

[rod178]

Steve - not meaning to be rude- I am rather skeptical that our 'individual' stops are hunted. Just not worth the effort for a MM to do do. IMHO they just hunt points of liquidity and stops. Our few dollars is not even a drop in the ocean, even in periods of low liquidity.

I've always found that entries where I perceived stop to be seems to provide the best entries, although I know that you already know this. This realisation was the single biggest breakthrough in my trading. Basically its just the never-ending cycle of Accumulation and Distribution. Happy to follow the MM and pick up the crumbs.

I just trade the Fiber at LO. All out by LC. Find that the Captains Chest material has also enhanced my technique.

PS great site - keep up the good work.

[TraderDesk]

Steve - not meaning to be rude- I am rather skeptical that our 'individual' stops are hunted. Just not worth the effort for a MM to do do. IMHO they just hunt points of liquidity and stops. Our few dollars is not even a drop in the ocean, even in periods of low liquidity.

I've always found that entries where I perceived stop to be seems to provide the best entries, although I know that you already know this. This realisation was the single biggest breakthrough in my trading. Basically its just the never-ending cycle of Accumulation and Distribution. Happy to follow the MM and pick up the crumbs.

I just trade the Fiber at LO. All out by LC. Find that the Captains Chest material has also enhanced my technique.

PS great site - keep up the good work.

Hi,

I don't know what is done now but in the past years bucketshops would do all sorts of tricks to hunt for hard S/L's of their trading clients including widening the spreads etc... At that time these bucketshops knew they could always get more retail traders to cover the ones that they loss plus retail traders really did not know what was going on at the time.

Today's marketplace is much more knowledgeable and there are many new player's in the market looking to do the best for the retail trader to attract and more importantly to RETAIN them....So you will see less and less of the previous bucketshops and more honest brokerages... That is if they want to stay in business...

As always be careful who you use.....

[rod178]

Steve - not meaning to be rude- I am rather skeptical that our 'individual' stops are hunted. Just not worth the effort for a MM to do do. IMHO they just hunt points of liquidity and stops. Our few dollars is not even a drop in the ocean, even in periods of low liquidity.

I've always found that entries where I perceived stop to be seems to provide the best entries, although I know that you already know this. This realisation was the single biggest breakthrough in my trading. Basically its just the never-ending cycle of Accumulation and Distribution. Happy to follow the MM and pick up the crumbs.

I just trade the Fiber at LO. All out by LC. Find that the Captains Chest material has also enhanced my technique.

PS great site - keep up the good work.

Hi,

I don't know what is done now but in the past years bucketshops would do all sorts of tricks to hunt for hard S/L's of their trading clients including widening the spreads etc... At that time these bucketshops knew they could always get more retail traders to cover the ones that they loss plus retail traders really did not know what was going on at the time.

Today's marketplace is much more knowledgeable and there are many new player's in the market looking to do the best for the retail trader to attract and more importantly to RETAIN them....So you will see less and less of the previous bucketshops and more honest brokerages... That is if they want to stay in business...

As always be careful who you use.....

Sure - I agree with all you have said. I'm certain that there are still some suspect brokers out there and I'm sure that the MM still spike spreads. HOWEVER, they are not targeting us as individuals.

I remember some years ago I was trading an account and one day 'felt' certain (for a few seconds) that my stops were being hunted. That is, until I remembered that I was paper trading on Netdania.
Point is - we all (well about half) basically react emotionally to PA the same way. The MM exploit this accordingly.

[Reaper]

3rd move on cable or 2 moves back down to retouch the previous low and then create a big W ?

I think it may have been an extended stop hunt, either way im out of this pair till tomorrow, when easter is properly over.

[Captain Jack]

GBPUSD - we were looking for the rise....

CJ

[hodgires]

Good day, Captain... sometimes, it is very difficult to see if a stop run is in place or if a leg is being drawn...in this chart would you consider this a stop run or the first leg of of the "W" being drawn? Thanks you.


Rich