The Captains Chest - Naked Trading & Other Stuff

[Captain Jack]

I'm looking for a W on the EURAUD, looking for a failed retest of the 1.42 level and forming the second leg of a W.

Thoughts anyone?

My thoughts....

CJ

[djhenry1981]

Thank you. Seems I need to work on my detection of Stop Hunts in real time.

[Jacque]

Cj

It's good to see you back every now and then with your valuable advice.

Although I miss your marked up charts you used to post the beginning of the week. But I realize we got to learn and practice it ourself .

Thank you again Cj.

I spend very little time in the charts nowadays...I know what to look for and no longer have to "search" for it. In doing this, I take far fewer trades with larger lot sizes, and reduce my exposure much quicker.

For some people this is the opposite of what they do. Most are taught and trained to "reduce their risk" by keeping lot sizes small, and spread the orders over several pair. Hoping a win here and there will offset too many losses, which come from over-trading under-capitalized accounts. The theory is, to protect your account to trade another day, We don't trade to substantially increase our accounts, we trade to lose 2%. BUT, we don't stick to the 2% loss because we are over-trading, we move are SL farther away as price moves from us, and stack orders in the wrong direction, trying not to lose, not 2% now, but 20%, 30% and higher on a failed trade. Who goes into a championship prize fight, not to win it all, but to stick it out to fight another day while you are taking an a$$ whoopin'. What warrior goes into battle, not to win the war, but to maybe just get injured enough to fight another day? What nations military conserves it ammo when it has it's enemy in it's sights? NONE!

This is a battle and a war for your money. I'm sure I've been on opposite sides on many trades and taken some of if myself. BUT, that is the goal. The goal is to win the battle EVERY time we CHOOSE to engage. This is our biggest advantage....WE choose when to put that trade on, not our opponent. HOWEVER, our clever opponents are well trained in matters at hand and they can FORCE you to engage, when it is to their advantage. This is what the Fox does, he "entices" us into positions that favor him, and beats us through attrition.

The GOLD chart I put up is very relevent for those who trade it. Very nice patterns, 3 clear levels of drop, with each level being comprised of 3 "pushes". So are we at a PEAK Low here? What do you expect to happen now, during Asian and later in London and NY? I don't trade gold in the US but I have a good idea what I would be looking for if I did. If I don't trade gold, why post it's chart? Simple, patterns repeat across all time frames and ALL pairs. There it is, 3 level drop of 3 pushes each, over 3 days or so, beginning from a PEAK HIGH and printing a possible PEAK LOW.... what now?? What do we do.....

CJ

Hey CJ, great to see you posting. The analogy of fighting a war is to trading forex and deception which you have reiterated above is valuable. Also, thanks for your clarification on EURAUD chart. Just curious on why you dont trade gold in the US, is it because of regulatory issues or a personal choice? Now on what we should expect on gold, here are my 2cents:

1. After 3 levels drop, it is printing a possible peak low
2. Thus, to look for accumulation in asian
3.Then spread widening at the end of asian going into london, look for SH above the spread range
4. Look for a W printing to form the peak low - this will be the LOD, enter long with tight SL below the low of the pins.
5. If it moves up after W, great!
6. Watch px action at key levels such as yest day high/low, weekly high/low for a possible NY reversal and collect cash from fox...
7. If we are adventurous, we could trade the reversal (but not for me at this time..), px is expected to finally end off with an accumulation zone going into the asian session next day.

[intcust]

I agree with loading up and tight stop. I did a post showing how the math works. But plan and simple you have to keep tight top and think it won't get hit. I agree that if you take the trade thinking you are going to lose don't take them or go the other way. But using leverage to your advantage with tight stop and high lots with large risk to reward keeps down side low and great return but you have to let them go to target (third level) what ever you are going for but if you shut down early and the risk to reward is not there you get beat. That is what the fox is counting on. Even if you get it right do you ride the wave to the beach or quit early. Quit early you are just giving them your profit and killing your numbers to overcome the loses. With that said don't get stupid and get up 100 pips and take a loss. Manage the the thing add extra positions if you are right (not if you are wrong). Move stop to plus when it gets up and past a significant point that type of thing.

[monkeh]

[xrismak]

Hello Peeps,

Does anyone know the Best Software to use in a Multiple Monitor Environment, I need to have something set up so I can View CHARTS for on different MONITORS in any format I can Possibly want.





Happy Trading Y'all

xrismak.

[fok]

Hello Peeps,

Does anyone know the Best Software to use in a Multiple Monitor Environment, I need to have something set up so I can View CHARTS for on different MONITORS in any format I can Possibly want.

Happy Trading Y'all

xrismak.

Hi,

http://fxgears.com/forum/index.php?topic=86.0
free at all, but no toolbar and no right click options on unlocked charts. Need to unlock every single chart.
http://www.youtube.com/watch?v=8cbaBkZ8h34#t=70

http://www.floatingcharts.com/welcome.php
trial free or full for 47USD. Toolbar and right click is working, float/ unfloat all at once.

T.

[MattK]

Gold-- as CJ mentioned, someimes they need a second run to fill their boots. Gold doing that now by the looks of it!!! Not quite down to the last low of 1305. Will watch and enter at a good opportunity.

[mtl]

Happy Birthday Mr. Captain

[xrismak]

UNlock Charts..png

Hello Peeps,

Does anyone know the Best Software to use in a Multiple Monitor Environment, I need to have something set up so I can View CHARTS for on different MONITORS in any format I can Possibly want.

Happy Trading Y'all

xrismak.

Hi,

http://fxgears.com/forum/index.php?topic=86.0
free at all, but no toolbar and no right click options on unlocked charts. Need to unlock every single chart.
http://www.youtube.com/watch?v=8cbaBkZ8h34#t=70

http://www.floatingcharts.com/welcome.php
trial free or full for 47USD. Toolbar and right click is working, float/ unfloat all at once.

T.

Tim,

Thank you very much for you kind Assistance, now I have another little Hitch, it says to turn on Allow DLL imports, I can't remember how to do this any more... my Brain has totally Frozen up as regards Tech Tricks on Empty4, been doing to much Chart Time Lately, can somebody please help me....

Happy Trading Y'all
xrismak



Peeps, I think I have found what I am Looking for....