The Captains Chest - Naked Trading & Other Stuff

[Captain Jack]

HI CJ,

The GCHF sell today on m15 that you posted. Isnt this kinda martingale stuff ? Though am sure you're probably not doubling it with every rise . Takes deep pockets to do that...

Out for a few hours...

CJ

Dear CJ

This is exploiting of a Curreny-Pair!

Foxology 101

CJ

Not really....As I've stated many times over, I tend to enter my trades early when I'm trading multiple pair. As for the GBPCHF trades, there is no increase or decrease in size of each order. Each is of the same size. While I don't have unlimited capital, I do not trade "under capitalized". I will also build trades based on higher time frames, which will require more breathing room.

If you notice the earlier posted trades, as well as the EURAUD trades today, I will trade the turns and ride them to the next, as I have done with other trades in the thread. There is little or no draw down with these trades.

Some of my trades will involve draw down while many won't.

You profit in a short sale by being able to buy the currency back at a lower price than you sold it. Mission accomplished. It's what a market maker does all day every day.

CJ

[themaxx]

CJ, could you please explain your EURAUD trade on the chart ?
Did you bought at support then added at new high & every bullish close above the high ?
I don't really get it, don't see a W or a M or a candle pattern ...

Thx a gazillion

Trapping volume???

[Captain Jack]

CJ, could you please explain your EURAUD trade on the chart ?
Did you bought at support then added at new high & every bullish close above the high ?
I don't really get it, don't see a W or a M or a candle pattern ...

Thx a gazillion

I see a "W" that went right into an "M"...I also saw a level 3 low here and was looking for a rise...I see a Low, a Lower Low and then a Higher low...the higher low is tested and held....

I bought off the "W" and sold the 2nd leg of the "M" down, then bought the rise after the low was held...

CJ

[Captain Jack]

CJ, could you please explain your EURAUD trade on the chart ?
Did you bought at support then added at new high & every bullish close above the high ?
I don't really get it, don't see a W or a M or a candle pattern ...

Thx a gazillion

Trapping volume???

Yes...pins to the low...that don't go below the previous lows....

CJ

[Captain Jack]

CJ, could you please explain your EURAUD trade on the chart ?
Did you bought at support then added at new high & every bullish close above the high ?
I don't really get it, don't see a W or a M or a candle pattern ...

Thx a gazillion

I see a "W" that went right into an "M"...I also saw a level 3 low here and was looking for a rise...I see a Low, a Lower Low and then a Higher low...the higher low is tested and held....

I bought off the "W" and sold the 2nd leg of the "M" down, then bought the rise after the low was held...

CJ

Thx ! Hard to spot

Worth looking for!

CJ

[Amit]

Shorting as the price keeps rising against you ( in today's case) , not strictly Martingale I know , but nevertheless requiring deep enough pockets is what I meant . Just like what the commercials do .

You might want to read up what Martingale is Amit...

HI CJ,

The GCHF sell today on m15 that you posted. Isnt this kinda martingale stuff ? Though am sure you're probably not doubling it with every rise . Takes deep pockets to do that...

Out for a few hours...

CJ

Dear CJ

This is exploiting of a Curreny-Pair!

Foxology 101

CJ

[Captain Jack]

Shorting as the price keeps rising against you ( in today's case) , not strictly Martingale I know , but nevertheless requiring deep enough pockets is what I meant . Just like what the commercials do .

You might want to read up what Martingale is Amit...

HI CJ,

The GCHF sell today on m15 that you posted. Isnt this kinda martingale stuff ? Though am sure you're probably not doubling it with every rise . Takes deep pockets to do that...

Out for a few hours...

CJ

Dear CJ

This is exploiting of a Curreny-Pair!

Foxology 101

CJ

It's no different than this set of trades a week or so ago...look familiar? I have a good feel for where price is going to go. Am I 100% right? No...but I'm right enough of the time that it's very profitable.

CJ

[dextroze]

Captain, whats the indi for the multiple position open in pips?

[xrismak]

CJ, could you please explain your EURAUD trade on the chart ?
Did you bought at support then added at new high & every bullish close above the high ?
I don't really get it, don't see a W or a M or a candle pattern ...

Thx a gazillion

I see a "W" that went right into an "M"...I also saw a level 3 low here and was looking for a rise...I see a Low, a Lower Low and then a Higher low...the higher low is tested and held....

I bought off the "W" and sold the 2nd leg of the "M" down, then bought the rise after the low was held...

CJ

El Capitaine CJ,

It just keeps getting Better with Time like an Old Soul Music LP, thank you very much.....
I am not as Good as you @ NAKED trading but I will get there some day, I will take what I have learnt from Your Good self so far and be Happy.

Happy Trading Y'all

xrismak

[Captain Jack]

Captain, whats the indi for the multiple position open in pips?

It's called !sm_bcpt and you can get it here :

http://www.forexfactory.com/showthread. ... ost5355831

CJ