The Captains Chest - Naked Trading & Other Stuff

[erickva]

Hi CJ and friends,

I would like to know how you scale in, if there is any script available in the thread for this, it is very hard to search for attachs in the thread.

Also, let's say I scale in every 10 pips, if I take profit at 40 pips from entry it will total 100 (40+30+20+10) pips if I count the scaled in trades and it is nice.

But if you have multiple trades scaled in and market starts to retrace, how or where to graciously exit the trades?

How do you guys manage this situation? Because if all trades go all the way to your initial stop loss it will be very big.

Cheers,
Erick

[odellcash]

Seeing the M pattern on the Yen pairs 4h charts. It was the similar but opposite W pattern right before the shoot up. I think its about time for a reverse, or at least a correction. Anyone agree?

I have a bit of a dilemma with this, odell. For one thing, the Yen is obviously weak as a kitten lately, so IMO any correction is gonna be brief. The other is that we'll be in the Asian session for the next 5-6 hours, which CJ advises us not to trade. I want to trade that beautiful M pattern but it just doesn't feel right. I'd love to hear CJ's opinion.

Not to mention, the Daily candles are screamin' continuation to me.

Edit: Having said all that, I did just scalp a few pips on a short.

I agree on all your points. It is scary to go against that monster trend right now. Given the Yen weakness, I wouldn't ride any short for too long, maybe to the low ADR, which is 100-150 pips depending on pair.

There are RRTs on most of the daily charts, but I certainly heed your caution. That said I put a few shorts in, but will keep very close watch on the PA.

Edit: I think one thing for sure missing is some consolidation. Unless there are tons of longs that the Fox can crush with a swing down that sneaky fox usually likes to pull in more money. You know there will be tons of action at UJ 100

[Dumas]

Trying to imagine places Mr. Fox might go.

[Dumas]

I think one thing for sure missing is some consolidation. Unless there are tons of longs that the Fox can crush with a swing down that sneaky fox usually likes to pull in more money. You know there will be tons of action at UJ 100

Yeah, I'm pretty lost in this situation (BoJ intervention mode). I'm thinking the 'rules' get rather bent. Very curious to hear CJ's thoughts. I suppose it's best to look elsewhere for reversals for the time being and just keep riding this trend. I don't think Abe is gonna take his foot off the gas anytime soon.

[totty23]

my fxcc 4h candle changed already, it is not 5am est yet.....any easy fix, i hate to mess with my Empty4. following all your posts closely, thanks from this lurker

[jordhopwood]

EU

[bernard]

Guys,
Please post if it is related to the subject of the thread.
What does Divergence have to do with the naked trading? or the scripts debuggings....

Bernard

[Reaper]

Hey CJ, would you agree that if one were to trade only 2 days out of the week, Thursday and Friday would be the best as the Fox generally accumulates for the first half of the week and books profits for the second?

I know that two cycles can happen within a week sometimes, but just generally speaking from my limited experience it seems tuesdays and wednesdays can be quite boring.

[jordhopwood]

Guys,
Please post if it is related to the subject of the thread.
What does Divergence have to do with the naked trading? or the scripts debuggings....

Bernard

CJ said on March 6th "...I've said early in this thread that I don't advocate people dropping everything they know and joining me on a naked chart, only to consider what is going on behind the scenes."

and also "...What works for each individual is what is important."

Divergence is simply an additional tool to gauge some signal qualities. Same as Tick Volume. and many more. especially when they occur at significant stop hunting grounds. The problem is not with indicators. It's knowing how to use them appropriately. No more. No less.

[Pueo]

Guys,
Please post if it is related to the subject of the thread.
What does Divergence have to do with the naked trading? or the scripts debuggings....

Bernard

CJ said on March 6th "...I've said early in this thread that I don't advocate people dropping everything they know and joining me on a naked chart, only to consider what is going on behind the scenes."

and also "...What works for each individual is what is important."

Divergence is simply an additional tool to gauge some signal qualities. Same as Tick Volume. and many more. especially when they occur at significant stop hunting grounds. The problem is not with indicators. It's knowing how to use them appropriately. No more. No less.

Please can you explain how the setup that you posted is directly relevant to the methods that CJ has taught us? I've read everything and I'm sure he didn't say trade any wick you see with divergence. Do you think that what you posted is a M? (we'd like to keep this thread directly relevant to the methods that CJ has been teaching us)