The Captains Chest - Naked Trading & Other Stuff

[123Reverse]

Michoz,

But what do I know I am always wrong. intcust

We've never met, but gee I wish you would stop using this signature. It goes against positive thinking and the idea of learning from mistakes, etc. If you use it so peeps do not blindly follow you, as a disclaimer if you like, there must be another way.

I think you are right here, there is a tendency for peeps to want to predict what price is going to do rather than following what it does do. There is nothing to say that price will reverse after three pushes. It could fanny about for a week and then do another three in the same direction, then again it could do anything.

In relation to Michoz's chart, at my level all I can hope to do is:

Miss the 1st push to 1 (ie I see it in hind site)
Enter after the pullback to 2 (sometimes the fox gets me in to soon)
Ride the push to 3
Suffer the draw down to 4
Let the fox con me out above 3, somewhere in the push to 5 (cause I can not predict the top and if I'm not care full, I find myself back at 4 as per the "A" on Michoz's chart)

[hodgires]

Make Trading Fair:

Hi fellow traders i posted this o Forexfactory, i thought this info may be beneficial to our community....if you are as curious a trader as i am, you know that as retail traders, no matter how fair a broker says they are, they will always place thier interest before ours. I recently found out about this exchange, I believe this exchange can help us even the playing field and solve many of our trading problems with brokers. We should petition our brokers to get on it, to avoid any issues of fairness and transparency..... and apparently its free, and i have no affiliation with them. Check it out.

http://www.iextrading.com/about/

http://www.cbc.ca/news/business/brad...fair-1.2597414

[intcust]

123 Reverse

My sign. is from way back. I would make some calls and most of the people would comment on how they were wrong as the acct. went from 5k to over 30 k in a few weeks. So it is rather a joke that apparently has seen its day. NOW on for more important news. May is coming. WHY is that important?????????????????????????????????????? Well usually, note usually, the fox goes strong $ in May through early summer. So one needs to look for double tops and nail the set ups for reverses and stay the coarse if $ is going up. A couple of years ago in May I saw the EJ move around 700 pips in about 24 hours. I got zero of it but at least was not on wrong side. So that is my input for now. Oh the day chart is slower than I like to trade but it is great for some. Everyone needs to find there area of comfort and go with it. I think trading breaks down into two types. One is make a living at it. This means you have to know how much money you need to make for the year what you have to trade and do the math most can never make this happen while still doing another job and the hours spent will probably be more than there current job. The second is income producing which means take your invest acct. forex portion (notice portion) and set a goal for that. If the bank is paying 2% and rental cap red. is 5-7% and you trade and make 10% you beat them both. To many people are looking to double there acct every other day and hit home run after home run. Well Babe Ruth, Hank Aaron and Barry Bonds all struck out more than they hit home runs. So why not look for 10% a year on your acct. and be satisfied?????????????????????????? If it happens on one trade you are done. Go to the sand box and play. If you get down a few percent you have the whole year to make it up. The biggest snow job of all in trading is the get rich today and that is what everyone is looking for and that is what the fox trades against and that is why the fox wins. Look what CJ posted take a small trade and add to it. He even posted showing how his lot size to acct balance percentage that it was less than 1% chance to blow his acct. But I bet most never look at it this way. Only what the fox wants which is instant millions with this system or that indicator. This is why most lose. What is wrong with 5 times what the bank is paying???????????????? OH BUT IT IS NOT AN INSTANT MILLION. So you lose. Try a demo just trying to grow it .8% a month after one year I will bet that acct. if you traded only that way will be up over 10% and the rest will be down.

Happy Easter to everyone.

[123Reverse]

Thanks for taking the time to reply. Trust you had a safe and enjoyable Easter.

[michosz]

I have this.

Is it good pattern?

[intcust]

chart looks fine. But every time the chart hits three pushes and three levels does not mean a reversal

[kwanann]

chart looks fine. But every time the chart hits three pushes and three levels does not mean a reversal

Just like to add on, 3 pushes and 3 levels occur in ALL timeframes, so just because H1 is done with it, does not mean H4 is done with it and so on

neither does it imply that just because a M appears in H1, any TF below H1 is a downtrend

You must really understand this, else it will screw up your trading big time

[michosz]

When we have 3 pushes we have one level ? So we must have 9 pushes in one direction that we have 3 level.

When we don't have 3 pushes we don't have one level ?
It is on all timeframe?
I know that everything is on this thread, but I want to be sure.
Sorry for my stupid question and my english language.
Cheers!

[tienbanker]

i see the chjpy have the rail road track, and the volume increases also.
ucad i see in the picture below, any idea?

[intcust]

When we have 3 pushes we have one level ? So we must have 9 pushes in one direction that we have 3 level.

When we don't have 3 pushes we don't have one level ?
It is on all timeframe?
I know that everything is on this thread, but I want to be sure.
Sorry for my stupid question and my english language.
Cheers!

Forex trading is a lot like dating. Things are never as clear as you would like. Yes the idea is three pushes on a level then that repeats three times then a new cycle starts either up or down. Sometimes the three pushes seem like one big one and sometimes it looks like a bunch of small ones. You have to go to small time frames when this happens to confirm. I try to look for the consolidation area and work backward from there. When it is picture perfect people post the charts usually after the fact. When it is not so perfect no charts so it is harder to see the unclear ones and the fox likes to keep it unclear. But per CJ as in understand you need three pushes to make one level and three levels to make a cycle. As I understand a push is a break (in a long) up past previous high then retrace (maybe a little maybe a lot) then break of the previous high and so on until the three happen then it will consolidate (that is were all the crap happens like stop hunts and false breaks all trying to get you to go the wrong way or leave a trade that is correct) then a push happens and another then another then the level is done repeat all three times cycle is over then wait could be another cycle up or maybe one down. Higher time frames can help with this but remember a 1 hour chart might move 200 pips for all three levels that might only be a retrace on the 4 hr chart. So 1 hour is going up the 4hr is getting ready to drop. I think you might want to wait and get on at the second push get off at the consolidation after last push in that level. Trying to kill this thing gets you killed read my post on trying to hit home runs all the time and CJ's on stacking (adding) positions.

incust