The Captains Chest - Naked Trading & Other Stuff

[Sequoia]

Hi everybody !!

I will never see market the same since I first started reading CJ, somehow it is the most real/credible way to tell why market moves, it just feels good to know this. Thanks CJ !!

I want to know if anybody has already learned to trade this way, and consider yourself in the zone yet, or close to it?

I know people like Xrismak, Swisscheese , Mike, Kruspe,Lio... are getting there, or are there yet, but is anybody feeling that confidence ?
Thanks for all your time, charts and explanations here.

[f451]

EURUSD M15, today. Still the same

What should be your entry on that one Kruspe ?

Edit : read HOD not HOG (was wrong with Harley Davidson Owner group lol)

Strong reversal bars (railroad tracks) show someone is aggressively selling with volume every time price hits a predefined level... this is the big boys at work...

Entry marked on green diagonal line, stop placed at either of the two green horizontal lines depending on how confident you're feeling...

eushort-SK.jpg

[bernard]

Hi everybody !!

I will never see market the same since I first started reading CJ, somehow it is the most real/credible way to tell why market moves, it just feels good to know this. Thanks CJ !!

I want to know if anybody has already learned to trade this way, and consider yourself in the zone yet, or close to it?

I know people like Xrismak, Swisscheese , Mike, Kruspe,Lio... are getting there, or are there yet, but is anybody feeling that confidence ?
Thanks for all your time, charts and explanations here.

If you are asking whether my charts talk to me the way they talk to CJ, your answer is NO.
I have not been able to make that SOB tell me a word yet.
Bernard

[frac7als]

hi captain and everyone. thanks for the great thread. lovin this....
quick question:
is this where EU leads and GU follows?
comments welcome. thx

GU 11042013.jpg

EU 11042013.jpg

[kwanann]

hi captain and everyone. thanks for the great thread. lovin this....
quick question:
is this where EU leads and GU follows?
comments welcome. thx

GU 11042013.jpg

EU 11042013.jpg

both are sell USD, so if something happens to USD, it will affect both pairs.

Nothing really in terms of lead and follow, there is something in ff which talks about a going home strategy where they find pairs with high correlation and adjust the screen so that both pairs will meet together

[mjws00]

hi captain and everyone. thanks for the great thread. lovin this....
quick question:
is this where EU leads and GU follows?
comments welcome. thx

I like those charts Frac7als. You can see EU GU lead follow (it switches) often on low timeframes. The pairs go in and out of correlation. Your charts show it perfectly. USD was the primary driver on the first two legs... If you jump over to your EURGBP chart. You will see it held essentially flat and ranged a bit. On the third leg. EUR was the driver. GBP was weakening/flat while EUR gained. GBP was pulling back against a nice strong prior sell off. It could just consolidate... then sync back up. Doesn't need to paint a EUR like pattern.

I don't know if it pans out like your chart shows. But EURGBP tells the story. I often watch these two and then trade the stronger/weaker one against USD or YEN.

We haven't hit much on correlations in this thread, but there are a few comments by CJ on how often one cross or pair is held while they work the others. As you trade more and more pairs you start seeing and feeling the interactions. I sometimes see the 10.4 crew take 3 or more trades that are probably 90+% correlated. I often watch 12 or more 5 min charts... half of them are painting the same thing at any one time, with different ones leading lagging slightly.

Green Pips.

Mike

[Dumas]

CJ, your exposé on market makers has my head spinning a bit. Is there a separate MM for each pair? Take these Yen crosses, for example. Since they often move like a team of synchronized swimmers, it seems as if one source is controlling them all. But I don't get how that would work. And if there are separate MMs for each pair, do they have some sort of game plan and schedule? I can't understand how they coordinate everything or, for that matter, if they even need to. Sorry for these naive questions, but on this subject, I don't know Jack. How did you learn about it? Whud ya do, sneak into Citi and swipe a copy of The Market Makers Handbook?

[Dumas]

BTW, RRTs across 1H Yen complex. Probably signaling further abuse of poor, poor Mrs. Watanabe.

[Pueo]

CJ, your exposé on market makers has my head spinning a bit. Is there a separate MM for each pair? Take these Yen crosses, for example. Since they often move like a team of synchronized swimmers, it seems as if one source is controlling them all. But I don't get how that would work. And if there are separate MMs for each pair, do they have some sort of game plan and schedule? I can't understand how they coordinate everything or, for that matter, if they even need to. Sorry for these naive questions, but on this subject, I don't know Jack. How did you learn about it? Whud ya do, sneak into Citi and swipe a copy of The Market Makers Handbook?

CJ mentions early in the thread that he was inspired by Steve Mauro. Steve had a rare opportunity to learn from a real market maker at one of the top banks on the FX desk. He signed a NDA but then the guy died a couple years later and it was void. If you google market maker method then you'll find more info. ($5k for the course). CJ also mentioned that he didn't actually take the course, he just got some info from free materials, CJ has pioneered his own style which I'm sure is the result of mega screen time..

I like your screenshot of yen pairs Dumas! Too bad I missed on that nice railroad earlier..

[swisscheese]

EURUSD M15, today. Still the same

What should be your entry on that one Kruspe ?

Edit : read HOD not HOG (was wrong with Harley Davidson Owner group lol)

Hi
Maybe today
Cheers
Edi