The Captains Chest - Naked Trading & Other Stuff

[bluedog23]

usd jpy m15.gif

The fox cleared the house here.

[bluedog23]

Bluedog23

Do you mind me asking what ADR indicator you are using on your charts? Many thanks

%21SM_ADR Marker.ex4

[nht]

Hi,

In J16 thread on ForexFactory I read about SFP (Swing Failure Pattern). You can read more about it in followed link : http://www.forexfactory.com/showthread.php?t=287794
If you don’t want to spend few days reading, one of the users >ghous< has a blog were you can read his interpretation : http://ghousfx.blogspot.com/p/newbies.html .

Of course J16 methodology is whole different story but I think this particular “method” combined with CJ’s can be very effective, especially for someone like me, who because other commitments can trade only D1 charts.

Best regards
nht

[bluedog23]

CJ,

Any thoughts on the JPY pairs after the big move last week?

Thanks

[Pueo]

On a side note, anyone else knows a 1:500 ECN broker?

You can try Exness, you get 1:1000. I have one account with them, what is good is that the spreads are pretty low and you can withdrawal your money instantly anytime. For downside, watch out for widening spreads like crazy on exotic pairs during news and outside of the busy times. Also, using that much leverage is deadly if you are prone to overtrading.

[kwanann]

On a side note, anyone else knows a 1:500 ECN broker?

You can try Exness, you get 1:1000. I have one account with them, what is good is that the spreads are pretty low and you can withdrawal your money instantly anytime.

Thanks Pueo, just tried accessing their website and it seems to be terribly slow. I'm based in Singapore that's why I chose fxprimus, because they have a few DC in asia

Will try it out when I get home and see if there's any lag in their Empty4

For downside, watch out for widening spreads like crazy on exotic pairs during news and outside of the busy times. Also, using that much leverage is dangerous if you are prone to overtrading.

That brings back memories, while I don't have as much screen time or experience as you guys (I started last oct only), but overtrading and of course extreme stupidity was what made me lose my first account. Luckily I recovered it back with NB's 10.x system and now trading free with CJ

[lhDT]

Waiting for EU short ...

[Pueo]

Same trade as Friday. Asian consolidation, takes out breakout traders, I'm looking for it to clear the stops above.. This is the only trade where I consult the 5 minute chart as it can happen pretty fast. Usually it's better to see price go a bit farther below the box but the pins and price action that unfolded was a nice tell.. Different brokers print the candles slightly differently, I like to watch on 2 broker feeds..

[Captain Jack]

Should be a pretty volatile week, this week. BOE, ECB, Non Farm Payroll-------- The Captains going to be showing off again...... I just know it

I hope you all made some $$$ of the YEN moves last week...I had a "few lots" involved and was able to take the week off after that!

CJ

[Captain Jack]

First time posting on this great thread! A quick thanks to the Captain for taking the time to teach us his methodology!

Question. Is it me or do all of the Yen pairs look like they're ready to reverse?

Nice call!

CJ