The Captains Chest - Naked Trading & Other Stuff

[Reaper]

As I said earlier, I don't trade like a madman everyday and some days I don't trade at all. I trade to make money. Sometimes I do it with a lot of orders, other times I do it with a few. I said before nobody needed to trade like I was trading earlier in the thread, to make money. It's not about the pips you make, it about making money.

CJ

I guess you're waiting patiently for some 3 level moves (and the crap accumulation/manipulation that comes after) to finish before getting your trading finger clicking again. I guess this is the best way to trade, with the lowest risk and highest probability.

Congratulations on your trades, looks like you got some nice pocket money there.

Waiting for "only" the trades after a level 3 reset has taken place is the way to put all of this together. The best "M" and "W"'s usually occur there and the moves are the longest in length.

If you trade on the 15M and are looking to "day-trade", 50pips is the target. If you are looking for the next move out of a level 3 reset, then the targets are 3xADR, with stops being moved up when a new level is reached and price moves away from that level, or a 20-30pip trailing stop.

CJ

Thanks CJ, I'm going to focus solely on these longer moves now. I need to proved to myself I can do it. I should be able to reduce my screen time and increase my patience. Question - If there were 3 days worth of "chop" inbetween levels 1 and 2 or 2 and 3, would you just normally hold through it?

If price is chopping that much, you are probably at a level 3 high or low and the reset is taking place....

CJ

Is price at the beginning of the 3rd level on this?

[Captain Jack]

As I said earlier, I don't trade like a madman everyday and some days I don't trade at all. I trade to make money. Sometimes I do it with a lot of orders, other times I do it with a few. I said before nobody needed to trade like I was trading earlier in the thread, to make money. It's not about the pips you make, it about making money.

CJ

I guess you're waiting patiently for some 3 level moves (and the crap accumulation/manipulation that comes after) to finish before getting your trading finger clicking again. I guess this is the best way to trade, with the lowest risk and highest probability.

Congratulations on your trades, looks like you got some nice pocket money there.

Waiting for "only" the trades after a level 3 reset has taken place is the way to put all of this together. The best "M" and "W"'s usually occur there and the moves are the longest in length.

If you trade on the 15M and are looking to "day-trade", 50pips is the target. If you are looking for the next move out of a level 3 reset, then the targets are 3xADR, with stops being moved up when a new level is reached and price moves away from that level, or a 20-30pip trailing stop.

CJ

Thanks CJ, I'm going to focus solely on these longer moves now. I need to proved to myself I can do it. I should be able to reduce my screen time and increase my patience. Question - If there were 3 days worth of "chop" inbetween levels 1 and 2 or 2 and 3, would you just normally hold through it?

If price is chopping that much, you are probably at a level 3 high or low and the reset is taking place....

CJ

Is price at the beginning of the 3rd level on this?

It appears to be....

CJ

[Reaper]

It appears to be....

CJ

I guess it's always better to look for more clear cut pairs to focus on. Okay thank you.

[kwanann]

Well this kinds of show what is the lowest it can go before intervention

This shows only that "news", real or fake, is used as an excuse for the market makers to move price a great deal.

When this false report broke, the market makers tanked it....when it proved wrong, they took it right back to where it was when it all started....much like they do in all the other instances of "news" spikes".....

There was no central bank intervention here.

CJ

CJ,

Appreciate if you can provide some comments on my analysis, was looking at your initial image and this looks really similar

[chosen.bless]

hi guys really enjoying this ride. i have been looking for something like this for a long time and my hat goes off to the captain. i have been mostly studding and observing this exciting forum quietly putting the pieces together and i must say i always like to know the reason why things happen compared to just seeing it happen. i have been somewhat successful with indicators but after being expose to the truth who would want to return. Each person should do what is comfortable and profitable for them i guess. but for me i have found the answer that i have been searching for for years LIBERATION FEELS GOOD, THANKS CAPTAIN.

quick question. from what point do you calculate the ADR to exit( from second leg of w, m)

[Mike]

If inapropriate, please delete. Since the BARF thread at FXAW is more or less dead, I post here: would you look at actual EURGBP as a BARF?
If yes at Point B (H4) or already on the run (H1).
Are we at leg 1 or 2 of a W?
Would you wait to enter or should I be already in a Long trade? I am waiting for the Fox-hunt, which I miss by now.
Or the opposite: what would make you think we are ahead of another level down?
Interested in your thoughts, thanks Mike

[Forexfux]

Hello everybody,
that's my first post in this wonderful thread. I found and joined this forum by accident. I'm a PA and S&D trader since along time and never thought to find such a nice thread about market structure in an indicator based forum. I'm always surching for methodologies that explain why price is moving. I learned some nice things but I wonder why CJ excluded one important type of liquidity: Limit orders. I don't want to bring flaws to this thread because I guess CJ considers the method as complete. But when somebody is interessted we could discuss it in a new thread.

[mjws00]

Welcome Forexfux.

If you have an idea or some thoughts on limit orders... just post them. We use pretty much all tools without bias in this thread. I do think you'll see some posts where CJ has pointed out a quick spike or two in order to tag BO traders using limit orders. I am also sure there is more than enough skill in this thread to use a limit order to enter on the second leg of a pattern, after a pin... etc.

Let it fly...

Mike

[Forexfux]

Thank you very much for your welcome. Limit orders are a part of the game and I think someone has to understand what role they play to understand the whole game or in other words the mechanics of the market. I would like to add/discuss some things which may not fit fully CJ's method. Therefore I would prefer to open a new thread.

[Reaper]

It appears to be....

CJ

I think it might make more sense that the white lines are the 4H cycle and the pink are the 1H cycle (3 days of rising price). What you reckon?

Cheers