The Captains Chest - Naked Trading & Other Stuff

[Captain Jack]

For daily chart in GBPUSD, seems that level 1 rise is forming and now may be in the accumulating long stage. Any buddies concur?

Sounds about right...so we should be looking for price to rise when it leaves the accumulation phase....something like a low stop hunt or a "W" formation....If there is no visible stop hunt below the Asian range Monday, then look for a straight away rise....

CJ

[Captain Jack]

As for the other things you've brought up Steve, I'd say you are starting to see this market for what is really is. When you do, it's like getting hit with that sledge hammer right between the eyes

Last week was good but this one nope. In fact I'm always a bit afraid of buying to lows & selling he highs ... afraid of more follow trough.
Example : I Spot a good "W", I want to go long at the "\/\_" leg and then it suddenly drop more and SL is hit ...[/quote]

Post some charts where the trades failed Lio, it will help to analyze what went wrong....

CJ

[Captain Jack]

thanks for replying Captain.

understood. it's like trying to finesse a Formula 1 car through the corners. not everything will be the same(steering angle, tyre grip, track conditions, etc) and to deal with it in real time.

i guess i have to keep on seeing n counting to get a grip with it.

thanks for posting the levels n the way you see it/count it.

training my eyes to see as you see.

There's another stop hunt in the 1st level as well....see the RRT up into the RRT down, in the drop? That's a stop hunt on a lower time frame chart...so they added a stop hunt in each level....

CJ

130330 aj stophuntpush.png

Captain, referring to this stophunt highlighted by the box off the first push out right?

On the left side of the box....

CJ

[Captain Jack]

Just a follow up, notice the spread and the candles on the Chart.

Alpari has done this stuff in the past...I would suggest a different broker....

Here's an old chart of NZDCHF that has 60 pip spikes all the way up this trend....No other broker feed had that at the time....

CJ

[totty23]

Anyway, my first question, I understand a brokers forex t&s only reflects their transactions (except tradestation i think) but what would you say to watching the futures equivalent, say 6e for eu?
Reading the thread it establishes i think that retail is a pretty insignificant portion of the total, following on it would seem that any large trades might inidcate those other than retail, yes?
Watching 6e t&s can i think flag the big money manipulation sometimes....or it could be just how i want to imagine it!!!!!! i have it set at 19 so i see everything 20 and above come thru, lower thru Asia.

[totty23]

Captain, the railroad tracks, you don't think a confirmation candle is an advisable entry, a third or fourth candle which confirms there is supply/demand to get on board?

[Captain Jack]

Anyway, my first question, I understand a brokers forex t&s only reflects their transactions (except tradestation i think) but what would you say to watching the futures equivalent, say 6e for eu?
Reading the thread it establishes i think that retail is a pretty insignificant portion of the total, following on it would seem that any large trades might inidcate those other than retail, yes?
Watching 6e t&s can i think flag the big money manipulation sometimes....or it could be just how i want to imagine it!!!!!! i have it set at 19 so i see everything 20 and above come thru, lower thru Asia.

It might offer possibilities but since I don't trade futures, I have no basis for offering an opinion here.

CJ

[Captain Jack]

Captain, the railroad tracks, you don't think a confirmation candle is an advisable entry, a third or fourth candle which confirms there is supply/demand to get on board?

My tendencies are to enter trades early in the process...these are mine and may not be suitable for everybody else. If you require those types of confirmations, then by all means use them.

Some will enter when the RRT has formed and the 3rd candle closes lower....I will enter on top of the RRT if I am confident that is the high...if I'm wrong, and a new high is hit, I am closed out for a very small loss....

CJ

[SteveHopwood]

Whilst this is not a broker discussion thread, it is their behaviour that creates the need to combat it, and thus this thread.

I have listened to the webinar linked here by mop and CJ - it has some interesting insights and offers a possible route forward for US traders. I have briefly summarised the contents at http://www.stevehopwoodforex.com/phpBB3 ... 173#p51173 Scroll up three or four posts after that to find a link to the whole webinar.

This is terrific top-up info that expands on what CJ has already taught us; please do follow this up.

[nicoacademia]

thanks for replying Captain.

understood. it's like trying to finesse a Formula 1 car through the corners. not everything will be the same(steering angle, tyre grip, track conditions, etc) and to deal with it in real time.

i guess i have to keep on seeing n counting to get a grip with it.

thanks for posting the levels n the way you see it/count it.

training my eyes to see as you see.

There's another stop hunt in the 1st level as well....see the RRT up into the RRT down, in the drop? That's a stop hunt on a lower time frame chart...so they added a stop hunt in each level....

CJ

130330 aj stophuntpush.png

Captain, referring to this stophunt highlighted by the box off the first push out right?

On the left side of the box....

CJ

this one?

130330 aj stophuntpush2.png