The Captains Chest - Naked Trading & Other Stuff

[mtl]

We see what they do :

I would not put money on that map... this pair goes higher but not now on the H4....it goes lower 1st....

-CJ-

CJ very interesting, what I have spelled more explore map

[ckim05]

I can't tell you how great it is to see the members here posting so many nice trades. Yes, this is how it's done and yes, it's that easy. Stay focused, be patient and take what's given to you. You can always enter a trade again, in the same cycle and there is ALWAYS another trade being set up. It takes them time to complete their cycles and this time allows you to locate the cycle and join them when they move price.

Those who move price can do so at any time they wish. They can turn it on a dime, and even go against a known cycle, only to turn it again and return to the intended path. This is what causes the higher variance in the lower time frame patterns. They do this to cover their tracks, they do it to take advantage of current situations and they do it to sell a lie and trap people into the wrong trades. They can shake you out of a good position into a bad one and leave you stranded. I would suggest that once you have trades well into profit, that you protect those trades and profit from these short term tactics. Lock your profit or protect the trade by moving your SL so that it a sudden spike appears, it doesn't turn a winning trade into a loser. Your goal is to make profit on every trade. In today's crazy world, you never know when a rumor or event will pop up and when it does, the Fox will be there to take advantage of it. Don't let his advantage be your trade profit.

-CJ-

Thank you CJ... This has been my biggest issue trading... be well into profit because I see what the H4 cycle is at, only to get buggered out by short term spikes and/or become jittery and question my level counts.... I especially like the comment;

"You can always enter a trade again, in the same cycle and there is ALWAYS another trade being set up."

Thanks always CJ.

[dydynamic]

I'm buying GBPUSD, looks like the fox has been cornered and ready to be skinned by the hunters...

[rewand]

We see what they do :

I would not put money on that map... this pair goes higher but not now on the H4....it goes lower 1st....

-CJ-

I did buy into the AUDUSD pair this morning at 0.7610. I played with H1 source pattern for H4. My original target was 0.7682 but it is end of the week so I am closing the trade but I hope I got this sourcing thing right and it is not just accident that the trade went on as expected. The pair showed strength the whole (European) day. It does have to go down, but maybe there was some room for the longs today : )

[Zaleske]

I did buy into the AUDUSD pair this morning at 0.7610. I played with H1 source pattern for H4. My original target was 0.7682 but it is end of the week so I am closing the trade but I hope I got this sourcing thing right and it is not just accident that the trade went on as expected. The pair showed strength the whole (European) day. It does have to go down, but maybe there was some room for the longs today : )

There is no accident. If you turned out a profit you did good. Maps are very useful but you have to be very careful, keep in mind the basics of retail trader trapping as they are laid out in the thread. Never be too rigid on targets or expectations, reassess where you might be in the pattern at all times, and if at some point you're not sure, or happy with what you have or whatever, GTFO and take the day off.

[Captain Jack]

We see what they do :

I would not put money on that map... this pair goes higher but not now on the H4....it goes lower 1st....

-CJ-

I did buy into the AUDUSD pair this morning at 0.7610. I played with H1 source pattern for H4. My original target was 0.7682 but it is end of the week so I am closing the trade but I hope I got this sourcing thing right and it is not just accident that the trade went on as expected. The pair showed strength the whole (European) day. It does have to go down, but maybe there was some room for the longs today : )

As long as you understand the limits of your source pattern and trade accordingly you should be ok.

As I see it, there will be no new higher high for some time to come. AUDUSD is forming it's H, HH, and this is the test, or LH. It's Friday and AU has a bank holiday on Sunday with several RED news items on the list for late Monday. I would be looking to short here BUT price will return to the same area and possibly a bit higher before there is a rather steep drop. So from here, it's down, up and a rather steep downward move after that....

The return of price to this level or slightly higher is the trap they will set before the drop....

-CJ-

[woodlands]

There is no accident. If you turned out a profit you did good. Maps are very useful but you have to be very careful, keep in mind the basics of retail trader trapping as they are laid out in the thread. Never be too rigid on targets or expectations, reassess where you might be in the pattern at all times, and if at some point you're not sure, or happy with what you have or whatever, GTFO and take the day off.

Very true in a few words only, sums up my trading faults
'If in doubt get out'
Thanks Zaleske

[Zaleske]

There is no accident. If you turned out a profit you did good. Maps are very useful but you have to be very careful, keep in mind the basics of retail trader trapping as they are laid out in the thread. Never be too rigid on targets or expectations, reassess where you might be in the pattern at all times, and if at some point you're not sure, or happy with what you have or whatever, GTFO and take the day off.

Very true in a few words only, sums up my trading faults
'If in doubt get out'
Thanks Zaleske

No problem, I'm still struggling too. We are humans

[Captain Jack]

There a several pairs that are in the extended Level 3 completion mode of the very high time frame charts... this is why you see so much indecision within the pairs. Level 3 tends to be an extended, drawn out affair with a lot of chop and indecision. Anytime you have large moves, the pair will have to pause and gather fuel for the next move...

But be that as it may, the cycles are still the same....but they still try to cover the tracks. Note the Level 2 drop.... and the stop hunt...

If you don't know the cycles well, then you should be looking for the Level 3 setups. Why? Because the cycles all end and start at Level 3. A lot of the time frames are in sync so it should be easier for you to enter the trade in the right direction.

-CJ-

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[Captain Jack]

Look familiar? It should.....

-CJ-

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