The Captains Chest - Naked Trading & Other Stuff

Post by **waza** » Wed May 25, 2016 9:20 am

CJ I know you always say patterns repeat but you're just on another level when you look at the charts, i'm in AWE with it. just amazing.

Post by **Reaper** » Wed May 25, 2016 9:34 am

For the last 20 years EURJPY looks like it's going sideways on the largest TF. No clear direction right. But if we look at GBPJPY/CADJPY/USDJPY they all look slightly bearish. This is a good sign to where EURJPY might be heading long-term. If you are interested in the much larger target of EURJPY, it's looks like its going to fall down to 60 but this will take years.

Just my opinion.

rambo06 · Post by **rambo06** » Wed May 25, 2016 9:37 am

Angat,

Check out the EJ daily chart circa 7/8/15, you may see the roadmap you seek

Post by **waza** » Wed May 25, 2016 9:39 am

CJ how's your Boy getting on at trading is he like a chip of the old block?

Captain Jack · Post by **Captain Jack** » Wed May 25, 2016 10:23 am

waza » Wed May 25, 2016 5:20 am wrote:CJ I know you always say patterns repeat but you're just on another level when you look at the charts, i'm in AWE with it. just amazing.

I've covered so much stuff in this thread it would probably have been better to separate out into individual threads. People try to assemble all of the info into a "trading system", which it is not. It is how I see the market and how I trade it.

3-5 day cycles are one aspect but the repetitive patterns, "M & W", candle pins and human patterns of the fox & traders, apply here as well...

Price mapping deals with how the candles form, to create the chart. The maturation of the patterns from the tick chart all the way up to the largest time frame charts, fractal nature of charts and their "predictive" qualities. Patterns are "born" on the tick chart and mature through each time frame, presenting the most mature chart on the highest time frame. Smaller time frames have more noise while higher time frames are more defined and less noisy. For example, if you trade D1 periods and want a clue as to where price is going, look to the 30m, H1 and H4 charts... the D1 pattern has already been printed on each, albeit with more noise and distortion, but its there. Now look at the D1 chart for EJ and compare it to what I just posted for the monthly price map...the monthly pattern has already been printed on the D1...it's not hard but the lower you drop in time periods, the more distortion there will be, but the patterns are there. I been saying this over and over and people just make it hard as hell compared to how simple it really is...

Areas of interest, supply demand areas, whatever you want to call them... who forms them and why traders are enticed into these areas...

Adaptation... understand that as traders become more aware of what this market is and how deception, lies and manipulation play a part in it, they become more profitable. They begin to learn the habits and the patterns...BUT, the patterns change and you must adapt to the changes... Example - stop hunts during news events... old pattern was the old "whipsaw", not they just usually run it straight away...

Those are just a few that could have their own threads and there is plenty more. The point is, pick something and learn it, all of it, like the 3-5day cycles, before you move on to other things... too many people want to jam all this into one "system", which it is not... most of all, CHART TIME! CHART TIME! AND MORE CHART TIME!

This is easy but it isn't easy.... "same, same but different"...

You get into trouble "mixing" pieces of info, from related, but not really related sections of info, and no progress is made, frustration sets in and traders lose money. It's a lot like jamming your chart full of useless indicators...

I made the mistake of trying to trade a 20k account during what I thought would be a period of time that I could devote time to trading. I thought my wife's health had improved to a point that I could spend the time needed in the trading chair. I was wrong. When you have 80-90 FULL lots in play, on a 20k live account, that's what is needed. Instead of trading cycles and structure, I drew a quick 15m price map up, based on a 5m chart, and had little to no chart time before doing so. I told people not to go below the 15m time frame as only pain is located there and, even though I have done this many times in the past, successfully, I failed this time. Result - lost most of that 20k... not that big a deal for me, but it was for a friend who was trying to rebuild his account, that only had 500 in it... he was going to mirror my trades and lost a good deal of it, due to my mistakes. I had actually made 3 maps up for that night, the other 2 were near perfect but I chose to trade the one that wasn't... works that way sometimes. I had stacked my trades, built my position and all that was left was to wait for the payoff... but the payoff didn't happen.. the map I created was of a similar "trap pattern" that looked the same as the correct one, but had a different outcome at the top.... Had I collected the payoff on those positions, that account would have been over 200k that night... Yes, 20k to 200k in less than 48hrs... but no, not that night.

There's days I have some time and visit charts, trying to stay current, but I'm still not trading seriously for now and won't be until I can devote the time needed. Sound advice for others as well...

-CJ-

Captain Jack · Post by **Captain Jack** » Wed May 25, 2016 10:38 am

waza » Wed May 25, 2016 5:39 am wrote:CJ how's your Boy getting on at trading is he like a chip of the old block?

My son does not trade as he does not have the time to devote to trading as needed. We had several discussions and the difference between making a living or making a life and what was needed for both. I did not want my son to spend his time making a living as I did. When I worked in the coal mines, as a supervisor, my work weeks were 70hr+ weeks, with almost 3hrs of travel time each day. I was on call 24/7 for my job. That was my life. That's what was expected of us when we took those jobs. Coal mines run 24/7, 365 days a year. You were expected to be there to take care of your area of responsibility. Peoples lives depended on that.

My son is teaching at the local university, and does what he loves... dances, performs internationally and teaches others his craft. He is making a life for himself and has traveled and performed in both North and South America, Europe and South Africa. This is his passion and I'm proud and happy for him.

My son is the fourth person down the list:

http://www.tapdogs.com/the-pound

-CJ-

Captain Jack · Post by **Captain Jack** » Wed May 25, 2016 11:12 am

Today's lesson...you're welcome.

Patterns repeat, 3-5 day cycles are present, as always and human's follow the same path... there's so much more here...

-CJ-

My trade:

2016-05-25_6-59-592 (2).jpg

How's it going to end? just like this... it's already been printed...

2016-05-25_6-59-592 (1).jpg

Post by **waza** » Wed May 25, 2016 11:20 am

No wonder your proud of your son , he's doing excellent for himself, he must love his job, infact when it's like that it's not looked at as a job( in my eyes) it's more of a life ambition and dreams and they're more important.

And thanks again for your wisdom.

ncoyte · Post by **ncoyte** » Wed May 25, 2016 12:04 pm

Captain Jack » Wed May 25, 2016 10:38 am wrote:
waza » Wed May 25, 2016 5:39 am wrote:CJ how's your Boy getting on at trading is he like a chip of the old block?
My son does not trade as he does not have the time to devote to trading as needed. We had several discussions and the difference between making a living or making a life and what was needed for both. I did not want my son to spend his time making a living as I did. When I worked in the coal mines, as a supervisor, my work weeks were 70hr+ weeks, with almost 3hrs of travel time each day. I was on call 24/7 for my job. That was my life. That's what was expected of us when we took those jobs. Coal mines run 24/7, 365 days a year. You were expected to be there to take care of your area of responsibility. Peoples lives depended on that.

My son is teaching at the local university, and does what he loves... dances, performs internationally and teaches others his craft. He is making a life for himself and has traveled and performed in both North and South America, Europe and South Africa. This is his passion and I'm proud and happy for him.

My son is the fourth person down the list:

http://www.tapdogs.com/the-pound

-CJ-

You are a great dad, Captain. Wishing you many years ahead to see your great grand kids.

Captain Jack · Post by **Captain Jack** » Wed May 25, 2016 12:27 pm

ncoyte » Wed May 25, 2016 8:04 am wrote:
Captain Jack » Wed May 25, 2016 10:38 am wrote:
waza » Wed May 25, 2016 5:39 am wrote:CJ how's your Boy getting on at trading is he like a chip of the old block?
My son does not trade as he does not have the time to devote to trading as needed. We had several discussions and the difference between making a living or making a life and what was needed for both. I did not want my son to spend his time making a living as I did. When I worked in the coal mines, as a supervisor, my work weeks were 70hr+ weeks, with almost 3hrs of travel time each day. I was on call 24/7 for my job. That was my life. That's what was expected of us when we took those jobs. Coal mines run 24/7, 365 days a year. You were expected to be there to take care of your area of responsibility. Peoples lives depended on that.

My son is teaching at the local university, and does what he loves... dances, performs internationally and teaches others his craft. He is making a life for himself and has traveled and performed in both North and South America, Europe and South Africa. This is his passion and I'm proud and happy for him.

My son is the fourth person down the list:

http://www.tapdogs.com/the-pound

-CJ-

You are a great dad, Captain. Wishing you many years ahead to see your great grand kids.

Thank you

-CJ-