The Captains Chest - Naked Trading & Other Stuff

[FlyHighDrifter]

We want to be looking through the screen to see HOW, WHERE, WHEN the fox is going to screw over the most traders. Who did he hurt? Who got trapped? What were the errors? Where might it be a good place to transfer their money?


Mike

Good post Mike. This is exactly what is at the top of my thought process when looking at the charts, stuff like M's W's, pushes and levels are additional tools/guidelines not rigid rules. One of CJ's very early posts even says that sometimes there are two, sometimes five but mostly three levels.

Their primary objective is to make money through deception on the charts - you have mix it up and roll with the punches sometimes and not be too rigid in your thinking. As an exercise folks just try the whole 'HOW, WHERE, WHEN' thought process next time you're lost in the levels... you'll be surprised how often it will get you out of trouble.

Cheers and good luck,

Fly

[kwanann]

Now they finally have enough volume to move EU up or is it a stop hunt.. hmmm

[banteka]

These are the clues that I have to think MMs are BULLS: HIGH volume on LOWS and LOW volume on HIGHS. The price have reached highs with a few volume and LOWS have been pushed more times with notable volume increasing.
I think EUR/USD will rise beyond 1.3300.

[lilac]

These are the clues that I have to think MMs are BULLS: HIGH volume on LOWS and LOW volume on HIGHS. The price have reached highs with a few volume and LOWS have been pushed more times with notable volume increasing.
I think EUR/USD will rise beyond 1.3300.

So the situation you describe suggests the fox will want to move upwards to eat that high volume on the lows? I find it difficult to distinguish the volume they want to eat, which will be on the opposite side, from the volume of their real move.

They seem to be moving only EUR pairs, the rest is moving slow or on hold, so I am pretty lost today with that EURUSD ping pong range, I missed the edges so didn't get in, just observing for now.

[xrismak]

Oh Dear Wrong Analysis Even making Coins... 31-07-13.png

These are the clues that I have to think MMs are BULLS: HIGH volume on LOWS and LOW volume on HIGHS. The price have reached highs with a few volume and LOWS have been pushed more times with notable volume increasing.
I think EUR/USD will rise beyond 1.3300.

So the situation you describe suggests the fox will want to move upwards to eat that high volume on the lows? I find it difficult to distinguish the volume they want to eat, which will be on the opposite side, from the volume of their real move.

They seem to be moving only EUR pairs, the rest is moving slow or on hold, so I am pretty lost today with that EURUSD ping pong range, I missed the edges so didn't get in, just observing for now.

Lilac,


Oh Deary Me, I was just sending McNish a PM about my Thoughts and Wow....


Happy Trading Y'all,

xrismak

[xrismak]

Thank You Mr Fox 31-07-13 1.png

Markets Moving well. Have trades in EU, GU short & UC, UJ, long. Lets see how goes.

Can anyone reason why UsdCad is moving out of session?

Mcnish,


We Got it Right !
What a Lovely Feeling..... go see my PM to you Again....



Happy Trading Y'all
xrismak

[banteka]

These are the clues that I have to think MMs are BULLS: HIGH volume on LOWS and LOW volume on HIGHS. The price have reached highs with a few volume and LOWS have been pushed more times with notable volume increasing.
I think EUR/USD will rise beyond 1.3300.

So the situation you describe suggests the fox will want to move upwards to eat that high volume on the lows? I find it difficult to distinguish the volume they want to eat, which will be on the opposite side, from the volume of their real move.

They seem to be moving only EUR pairs, the rest is moving slow or on hold, so I am pretty lost today with that EURUSD ping pong range, I missed the edges so didn't get in, just observing for now.

I suggest that MM are moving downward to eat shorts, as they are doing in this exact moment. Do you see the spike?. MMs are BULLS now more than ever. So think in open longs NOW...It is going to be a very interesting-scalping-afternoon

[mjws00]

I suggest that MM are moving downward to eat shorts, as they are doing in this exact moment. Do you see the spike?. MMs are BULLS now more than ever. So think in open longs NOW...It is going to be a very interesting-scalping-afternoon

Interesting. Personally I don't think the longs around 1.3300 get out for a while. TONS of the stops below the weekly pivot 1.3241 were theirs. But there is still dumb money long, imho. I'll let my shorts run until the brakes get put on.

We still have news. London close, and a bunch of goodness to come. Unfortunately As the zone is now shifted, the could just let this thing stew sideways in here leaving those who are stuck, to die via attrition and time. Also gives bored, and weak shorts time to punch out early. Stops @ 1.3200 in range

Mike

[pips400]

Bit of a mixed bag for me today, but still learning masses. I've found my most successful trades are when I'm patient and not taking the first set of pins that may present themselves but waiting for confluence also with previous significant level, this may mean missing a couple of trades, but it also reduces DD, saves a few losses and gets the maximum move. For example with the EURUSD today I was looking for a short because of recent PA and the stong resitance level for the last four days. When looking at the hard right edge I notice there are often pins that can form enticing a trade entry, but it is also about context and position of where those pins are forming. In the EURUSD I was tempted to enter short a point B, but knew price could still go higher before the reversal, so I put a limit sell just above the resistance at C instead, and voila perfect entry, the down side was I baled at D and put a long, without a SL so big lesson there I've also dropped a load of charts as well so that I can focus better on a smaller set.

Pips to all

eurusdim15.jpg

[xrismak]

I don't really think strictly rules based counts are going to work. I keep hoping someone will find something repeatable and valid. Alas, they mix it up enough to screw with you. Remember, a beautiful 3 Count ties nicely into Elliot Wave, which is a sub culture the fox likes to munch on.

It is the transitions that matter. We want to spot WHEN they are slamming on the brakes. And then shaking out the weak traders to take profit, re-balance their book, RELOAD.

I count the IMPULSE, and then look for consolidation. But when the count gets ugly and it often does. LOOK FOR IT TO GET NASTY AND SPIKY. We have always called those level 1/3 here. It is how our PEAKS Formations get made.

I can see B and C of Jem's charts as valid. I can come up with a near perfect count almost every time. It's not the count that matters. It is the price action at each level. Counting rigidly gives them a better chance to trap you. Keep in mind also: TIME. We rarely have more than 1 level in a day.

We want to be looking through the screen to see HOW, WHERE, WHEN the fox is going to screw over the most traders. Who did he hurt? Who got trapped? What were the errors? Where might it be a good place to transfer their money?

Here is a GBPUSD Example.

Mike

Edited: Chart A doesn't work for me.

really good post !!

Julian,

Everybody has their own Style of Trading, it May or May Not Work for Some Folks, I was a Practical Looser when it came to Trading FOREX until the Naked Trading Thread Started, I took my time and was Determined to Learn, most times I got it Wrong and when my trades went Horribly wrong I looked at things as I took a Chance and it did not work out and tried to see why and what I did Wrong, but I kept on at it and when I got the Trade Right I looked at things and tried to Figure out just why I got it Right, WHAT DID I NOT DO WRONG and Why was I Right. Life is sometimes about taking Risks, if you can win more than you loose in Life then the Odds are Stacked in your Favor and that is Part of what Naked Trading is About. The Results of my Consistent Mopping at Charts 24/7 Day in Day Out have Proved to me that the Secret is in Patience and Taking a Step Back to do a Detailed Analysis of what if the Price Action goes this Way... what will happen as in what might Appear on my Chart, but if Price Action Goes the Opposite Way what will Appear on ( W or M to Include 3 or Sometimes 4 Pushed up or Down ) my Chart. Having Done this over and Over Again I began to see the Signs.
Simply Fantastic Results and from then on I have not looked Back, Naked Trading might Not work for Your Good self but as for Me it HAS WORKED and Will Continue to Work because I continue to look for and Study the Ways of the Fox using my Charts all the Time. I don't know it all but it is in Sharing my Thoughts , Winning Trades and LOOSING trades on this Thread that I have learnt even More to Excel at Naked Trading... Please don't take this in a Negative way, I am only Urging you to keep on at it if you Please because if I can Do it then You can also do it too , you have to Believe in your self.

Happy Trading Folks,

xrismak