The Captains Chest - Naked Trading & Other Stuff

[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)

I'm not sure I fully understand your question, but if you are trading on the 15M, then you use the high or low of the day. If it's on the D1, then you use the high or low of the week to calculate 3xADR for a 3 level rise or fall. It's always from the high or low of the day or week.

CJ

thanks again for the quick response Captain i get it. Do you carry open trades in over the weekend or do you close them out on Friday and begin anew. reason for question because of sometime large gaps.

[kwanann]

Hmm was looking at charts and all, it seems the market makers will always take both directions sometime or the other, won't this mean that they have the ability to move price in either direction if they so wish? Of course one would be more profitable than the other, but either way they won't suffer like we do?

[Reaper]

Hmm was looking at charts and all, it seems the market makers will always take both directions sometime or the other, won't this mean that they have the ability to move price in either direction if they so wish? Of course one would be more profitable than the other, but either way they won't suffer like we do?

These guys might have such a large position to fill together with that fact there are always traders that dont know what they're doing. It may appear that the MMs are pushing price in an unprofitable direction, it could be that they are trying to accumulate.

my 2 pence.

[bluedog23]

Here's my view of levels and pushes on AUD/CAD. The H4 shows the levels. Within the levels the pushes and retrace are visible.

The M30 shows a bit more detail from level 2 to level 3 and you can see what appears to be a "W" forming on that chart.

Picking these is not always easy for me. As CJ has stated, the charts do not always conform so easily to this model and the fox is always trying to mix this up and make you think you are somewhere else in the cycle or pattern. You don't know if you should be long or short which is what the fox wants in order to take your money.

I have moved from trying to trade many positions to trading a few postions that I am able to identify as good risk/reward candidates. I trade those with higher lot size as CJ has stated. I have been trading live for about four months and feel fortunate to have found CJ's thread so early in my trading.

Sharing my thoughts and charts here is helpful to me and I always welcome input as a learning tool.

A good weekend to all...

aud cad h4.png

aud cad m30.png

[Rich_Tea]

I don't normally go in for predictions, because I feel they can be a bit too distracting from watching what is actually happening but GJ looks pretty interesting right now.

I'll be looking for pins and M and W's in the areas's I've marked.

GJ-thoughts.jpg

Looks like the first 2 parts of your prediction was right f - nice one! Will we get the third?

[Mariusz]

If there's anybody who thinks they are in their right mind and "believe" that FOREX is based on "free markets" and isn't a rigged game, I suggest that you read this article....we all know about LIBOR, now comes a new "speck" to keep your eyes on....

The same banks that are and have been doing this kind of shit, without anybody ever having to pay for it, are the same banks that "make" the FOREX market.... They are the market makers I refer to as the FOX!

The world banks just pass around the money in a big circle jerk.... they print it and pass it....back and forth....and use it to create debt traps into which people fall and become slaves to the dollar, yen, pound or whatever flavor is in where you live....they all should be in prison!

If you think hard assets like gold and silver are going to stave off what's coming, better think twice...if they want the price to fall, they can tank it. Metals are only worth what people will pay for it and there are moves being made in many countries to force people to "register" their metals as well as countries preventing the removal of gold from them.....

What's the answer? I don't have it....I just keep taking, just like they do, but in the end how many "worthless" dollars, yen, pounds, marks or whatever does it take to buy a loaf of bread, gallon of milk or clothes for the kids?

Governments monetizing debt is kinda like corporations selling billions of shares of stock....with every share sold, each one becomes worth less.... at some point, the company usually does a "reverse split".....so I wonder when the governments will begin their "reverse splits"?

http://www.commondreams.org/view/2013/04/26-7

Sometimes I wonder why we even need money.

CJ

Captain,

I must admit that at the beginning I could not convinced myself that such big animal as fxmarket can be manupulated... Now I believer... Why? By connecting dots...

First dot is the article that you provided link to (see part of it below):

That was bad enough, but now Libor may have a twin brother. Word has leaked out that the London-based firm ICAP, the world's largest broker of interest-rate swaps, is being investigated by American authorities for behavior that sounds eerily reminiscent of the Libor mess. Regulators are looking into whether or not a small group of brokers at ICAP may have worked with up to 15 of the world's largest banks to manipulate ISDAfix, a benchmark number used around the world to calculate the prices of interest-rate swaps.

Second dot is here (see 5-6 minute of this video):
http://www.craigharrisforex.com/webinar ... a-oropeza/

You can learn from this guy is that all primary banks (like ML, JPM, GS, CS) use use the system called EBS to trade the foreign exchange between themselves.

Guess who owns EBS system?... ICAP of course...

I doo not think we need anything more than that... Thank you CJ for opening our eyes and for showing us the world from fox googles...

junior fox Mariusz

[intcust]

CJ

Thanks for you insight on pushes and levels. Some of us learn slower than others. The Fibor article is a must read. If that does not open you eyes then well, then what? The banks have been the problem since they first came about. If we don't learn from history we are doomed to repeat it. Just look at WWII and the role the banks played in that whole mess. It came close to back firing on them with the tyrant Hitler getting in to power mostly on an anti bank platform. The way I look at is that if go to the the track and know the race is fixed but we are not part of the people fixing it then we can still figure out what the fix is and have a better chance at succeeding. The same is true with the fox. If we know the fox is out to fix things and we know it then we can plan for it. So if you don't want to believe in the fox or the fix or any-other name. Then this is always right. PRICE. There is nothing else that is always right. PRICE is always right. You have been instrumental in helping all of us seeing price for what it is not what we want it to be. I trade with a excellent trade who has a similar mind set to you. He always says trade what you see not what you want to see. Once again thanks and I will re read the tread to get more insight.

[seanyd]

Looks like a nice barf on the gbp/usd

[hodgires]

If there's anybody who thinks they are in their right mind and "believe" that FOREX is based on "free markets" and isn't a rigged game, I suggest that you read this article....we all know about LIBOR, now comes a new "speck" to keep your eyes on....

The same banks that are and have been doing this kind of shit, without anybody ever having to pay for it, are the same banks that "make" the FOREX market.... They are the market makers I refer to as the FOX!

The world banks just pass around the money in a big circle jerk.... they print it and pass it....back and forth....and use it to create debt traps into which people fall and become slaves to the dollar, yen, pound or whatever flavor is in where you live....they all should be in prison!

If you think hard assets like gold and silver are going to stave off what's coming, better think twice...if they want the price to fall, they can tank it. Metals are only worth what people will pay for it and there are moves being made in many countries to force people to "register" their metals as well as countries preventing the removal of gold from them.....

What's the answer? I don't have it....I just keep taking, just like they do, but in the end how many "worthless" dollars, yen, pounds, marks or whatever does it take to buy a loaf of bread, gallon of milk or clothes for the kids?

Governments monetizing debt is kinda like corporations selling billions of shares of stock....with every share sold, each one becomes worth less.... at some point, the company usually does a "reverse split".....so I wonder when the governments will begin their "reverse splits"?

http://www.commondreams.org/view/2013/04/26-7

Sometimes I wonder why we even need money.

CJ

Hi Captain, i think u are right,

The "banks", hence the markets as we know it are designed to cheat the average person. So that man will totally depend on the banks to be able to survive. It is absolute survival of the fittest, with the end goal to absolutley enslave, and control man kind means of survival. So we are not just trading in a market, but rather there is a huge hidden agenda behind what we know as the markets. Guys, not to sound religious or anything, but it is said somewhere in the "Bible" that one individual will controll all that we depend on for survival "antichrist", and whitout sucumbing to his/her rules alone, people will not be able to buy or sell anything, and it is obvious to me that big banks and thier institutions as we know it, are working towards that agenda.

[hodgires]

Hi Captain i am looking at the audjpy, i believe it will continue on the upside until maybe mid week. So do u think this "w" formation is valid to take a short on? your thought are higlhy appreciated..thank u.

regards,
Richie