The Captains Chest - Naked Trading & Other Stuff

[kwanann]

Whatever happened to quick reply :

Nope u r not wrong. It would have been better to close the trade IF you were playing this TF.

In this case look at the trades purely for today then.

Now zoom out to the larger tf say.. H4 or d1. Then cross reference his entries, what do u see now?

[rosst]

Here is another group teaching this system - lot cheaper than Mauro - but basically same stuff. But they don't manage accounts either. I would like to see somebody offer a managed account with their teachings - I would pay them for the training out of my profits!
http://www.daytradingforexlive.com/live ... ipulation/
But CJ is teaching the same for the best price!

[Captain Jack]

Add Positions 1.png

Thank you John

Steve

Stevelacoste,

This is How we Do it Sometimes..... I would have stuck a lot more as in Positions and Lot Sizes but I am waiting on something otherwise..... you would have seen a lot more Greens here..... I have since closed all the Positions except one, because it's a Weekend (Friday)


Happy Trading Y'all,

xrismak

This is not going to make me very popular and will likely get me banned. But, it is only fair to all the new traders to bring this up. And I really hope that I am not stupidly wrong here.

Xrismak, wasn't that first sell placed several weeks ago? and didn't it go against you well over 400 pips (432)? I bet some of the other sells were place weeks ago and went well against you as well. You wait till now to show it was a winning trade. That made a potential stop around 10 times larger than the targets.

That doesn't sound like following the fox. Sounds more like "don't take a stop and hope the market finally turns back your way". That's fine for you to do that (I've done it too). I'm not wanting to pick on you, personally. I sure don't trade any better. But, I don't think that it should be characterized as a fox trade.

For all of us watching. We need to know if people are really learning how to trade this and proving that this sort of fox trading works for regular folk (not just cj). Throwing in random wins is confusing and misleading.

I will apologize up front for offending anyone (and especially if I am wrong ). I just think this needed to be brought up.

You are correct in thinking that this post is not going to make you a popular person, especially with me.

For those watching, they need to begin at the start of the thread and read it. You will see many trades posted by xrismak so why ask about a single trade that has been added to and carried?

This thread is here to provide people with an alternate way of looking at and possibly trading the FX markets. There is no system here and people need to read the thread....all of it and not just start at the end hoping to cherry pick trades from other people. I nor anybody else here have to "prove" anything to anybody. Each person who trades their accounts should have to minimum level of intelligence required to make judgements for themselves, as to the validity or value or the contents of this thread.

Most trade examples here have and continue to be posted in real time by most contributors as an aid in helping others learn the methods.

DO NOT ASK FOR VALIDATED MYFXBOOK ACCOUNTS FOR PROOF OF ANYTHING HERE.

Should anybody feel the content of the thread is not for them....LEAVE. I think I've made myself clear and there will be no further discussion of the matter.

CJ

[Captain Jack]

Whatever happened to quick reply :

Nope u r not wrong. It would have been better to close the trade IF you were playing this TF.

In this case look at the trades purely for today then.

Now zoom out to the larger tf say.. H4 or d1. Then cross reference his entries, what do u see now?

Xrismaks post was to show the addition of trades once price began moving in the intended direction. Many times the market makers will complete a pattern, but not receive the volume or orders that they need to clear their books because traders have not yet 'bought into" their sales pitch. When this happens, they will move the price again, up or down, between 25-50 pips on the 15m time frame to "sell" the story once again. These "resells" are much larger when you look at the pattern on a higher time frame.

ANY trade series that ends in green is a good series. One that ends with a small amount of red is much better than one with a greater loss.

CJ

[Ingot54]

The largest winning trade is only up 30 pips... you do not need 200-300 pip runs to make money. Not bad for a few hours work today while reading and responding to the forum.
CJ

http://www.stevehopwoodforex.com/phpBB3 ... 892#p69892

One of the many reasons I am so keen to get deeply into this approach, is the great teaching we get with John's candid side-comments.

I am one of those who live by the creed: "Do-what-you-do-do-well." For those who don't remember Ned Miller - here is where this came from: https://www.youtube.com/watch?v=_wdDcxTxysU

The point of my post is this: Don't try to trade every setup for every pip.

Rather, find ONE setup and trade it well, especially in the learning phase of this. At the risk of drifting into another long post, I want to share with you all, that in my previous attempts to 'find a good trade" I used to scan through 28 charts!

Yep!

Today I know how futile that was. I ended with brain fatigue, and no energy to dissect the trade correctly - even when I did locate one. I have reduced the number of charts I follow now, with the result I know my charts more intimately, and can far more quickly spot setups. I'll apply that to this strategy too.

What CJ is saying, essentially, if I may be so bold as to paraphrase his words - is to get in front of a good setup with a position size that will make money for you when right ... and with a stop loss that won't hurt too much if it doesn't work out well.

Another way to accomplish the same thing, is to build your position to your (psychological) comfortable lot size, as the trade develops.

Other (forum) strategies involve setting many orders on many charts ... and for me - I found this created a management issue. I ended up looking at about 5 charts to see whether the trades were working or not, and often missed reverses and places to TP, and risked (and got) margin calls.

By trying to manage 5 trades with an aggregate lot size of (say for example) 2 lots, I would spread my concentration far more than needed. A better approach taught here by CJ, is to cherry pick your entry on ONE pair, and either build your lot size to the 2 lots on THAT pair, or plonk for the 2 lots straight up. Time in the charts, and time trading can build this skill.

I know this works, because one evening I traded the NZDJPY and just kept plonking positions in front of the move, until I ended with 3 full lots, and let it run another 70 pips. That was exceptional, of course, but it illustrates what is possible. It was a thing of beauty to watch those positions all close using a script!

So do the maths - which is simpler?

5 charts x 20 pips x 0.1 lots SL 100+ pips
1 chart x 20 pips x 0.5 lots SL 20+ pips
1 chart x 10 pips x 1.0 lots SL 10 pips ... not necessarily a good example, but the principle is there.

Not only do we have the best PA strategy here ... we are given bonus tools to exploit that strategy to the max.

Moral of my story - Pick your trade ... ONE trade ... and play it to the max. Or as Ned Miller sang: "Do What You Do, Do Well."

[Ingot54]

That was the issue I had with 10.x, with so many trades in the basket, it became irritating to manage after a while. Probably just me cos I know of others that's managing it fine.

Me I just aim for one or two pairs and milk it for what it's worth. Of there's nothing, then it's just a no trade day for me.

Yes Kwanann - exactly.

And by making one trade (well maybe a second if too good to pass) your focus, you have the time to check all TF to spot an end to the move earlier.

Then it's take the profits (merci, agent de change) and move along to the next opportunity.

Uncomplicated ... but man, doesn't it sound easy!
Yeah - easy to say ... now I have to make that a reality!

[pips400]

Uncomplicated ... but man, doesn't it sound easy!
Yeah - easy to say ... now I have to make that a reality!

Hey Ingot just wanted to encourage you and wish you are a very exciting and profitable future. Thanks for all your efforts on this forum. It was a year ago that I began looking an trading, then I was in Africa for six weeks, but when I returned back to the UK in October I've been full time on this, I'm fortunate that I'm my own boss so I have the time to invest in forex. I know there are many like yourself who have been at this far far longer than I and so I am always ready to learn and help wherever I can. That's the great thing that Steve has put together on this forum, with a community of people willing to help, although that doesn't apply to everyone, but my advice to anyone with a wrong attitude is your reap what you sow, and forex is much more than just about clicking a few strokes on a keypad, it's a philosopy of life. I think you're going to make it big because you've got a big heart

[Ingot54]

Ingot

Easy one, gbpusd uptrend, usdchf downtrend. Buy low sell high

Thanks Kwanann - I'll look at those two and see what I can learn from the setups.

I also found the threads "Naked101" and "The Fox" great learning opportunities ... but have to somehow assimilate all that info. So much sharing and teaching.

http://www.stevehopwoodforex.com/phpBB3 ... =59&t=2010

http://www.stevehopwoodforex.com/phpBB3 ... =59&t=2525

Think of it this way - it takes several years to study at Uni to get your degree qualification ... and that entitles you to hit the streets, get a j-o-b if you can, and begin to put your learning to work ... and earn.

With Forex, if you study hard and use the great network of friendly fellow students, and the invaluable tutelage of John, who has no peer, you can begin to earn serious money in a fraction of that time. No government student fees to repay ... the only requirement is a serious desire to succeed, backed up by serious effort. All free.

I am thinking the fastest way is to just plunge into the charts and find likely setups and post a couple of setups for critique ... like many of you guys did earlier.

Look at you now!

Yep. There is a bright future for this.

I am so grateful to people like John and Steve H for providing this learning venue ... selflessly. And to people like yourself who have been there, and have come back to pick up others who are bogged down.

Bless you all.

[Ingot54]

Hey Ingot just wanted to encourage you and wish you are a very exciting and profitable future. Thanks for all your efforts on this forum ... http://www.stevehopwoodforex.com/phpBB3 ... 049#p70049

Thank you for those kind words, Pips400. So many good people on this forum.

Like many of us, I found we learn best when sharing stuff, because it keeps us on our game.

I became involved in trading in 2004, because I could see one day I wouldn't be able to continue in my regular work, but that I would still need a cash flow. That day is closer than ever ...

I'm not the only one like that, and in helping others ... and encouraging others as you do, and as Kwanann and other posters here do ... it brings me closer to my goal.

Thanks guys ... you are good friends

[zentauro67]

Hi, all

Just passing by to say hello. Trying to read carefully the 100 first pages of the thread. I´ll need some time to get the key points but no doubt it worths it the study. As newcomer, I wonder if this should be a valid setup.

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