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The Captains Chest - Naked Trading & Other Stuff
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Author:  Kruspe [ Fri Apr 05, 2013 3:06 pm ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
There are still the same patterns. Just look at any chart and you will probably see it. As our master CJ said "Once you "see", you can not unsee." I´ve never realized how many info I could find in a simple chart without indicators.
Author:  Kruspe [ Fri Apr 05, 2013 4:59 pm ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
Another one trade on EurUsd today. Sell from 1.3030, I made also some comments on chart. ;)
Author:  oconnor365 [ Fri Apr 05, 2013 7:18 pm ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
Kruspe wrote:There are still the same patterns. Just look at any chart and you will probably see it. As our master CJ said "Once you "see", you can not unsee." I´ve never realized how many info I could find in a simple chart without indicators.
Hi Kruspe...great chart on eur/gbp and very clear 'm' and 'w'....My query would be at what stage do you enter the trade?.. Like , how do you ascertain that the second leg up of the 'm' aint going to hit the existing high?...same with the low of the 'w' ?

cheers
T
Author:  Kruspe [ Fri Apr 05, 2013 8:28 pm ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
Hi oconnor365,

when you think that W/M is forming, you can change timeframe to 5M and watch how price reacts in that level. You should wait to some confirmation that the price level is strong and price is tending to reverse. Look at my screen, how price reacts when the second leg of M starts to form. Red arrow could be good place to enter into short. Long trade is not so clear. It could be the second, or third blue candle after that low. But it is not only about price. You have to consider more things (ADR, area where W/M is forming, what markets are opened.. etc.). Average daily range (10 days) for Eur/Gbp is about 55 pips. In that case was range over 80 pips, so you could suppose that there shouldn´t be endeavor to push the price lower.

Why usually price goes back from high or low to the range ? They have to accumulate as many possitions as they can and lock them before midnight (because of swaps, etc..) ;)

I hope it is more clear now.
Author:  seanyd [ Fri Apr 05, 2013 9:26 pm ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
Can I post an Indicator that I found very interesting its called the T S R signal line ,

I know this is naked trading but for people like me that are not to sure if this is an entry or not ,

I think this could be an extra confirmation.

Image

I have 2 on my chart Red on period 79 and method 3
and the green one set to 60 and 3

don`t know if i`m allowed to post this or not

please delete if so but I thought this might help :)
Author:  kwanann [ Sat Apr 06, 2013 12:56 am ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
Had a fantastic week, next week will be trying to adapt CJ trading to a H4 or D1 trading pattern so that i do not need to spend so much time on the charts.

I believe it should be possible though it could be the case that my DD will be quite high.

Just wondering if anyone is trading off the higher TF charts rather than the 15m and 1H. I remember someone mentioning that H4 is biased thats why its better to trade off 1H, would it be the case for D1 as well?
Author:  xrismak [ Sat Apr 06, 2013 6:20 am ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
kwanann wrote:Had a fantastic week, next week will be trying to adapt CJ trading to a H4 or D1 trading pattern so that i do not need to spend so much time on the charts.

I believe it should be possible though it could be the case that my DD will be quite high.

Just wondering if anyone is trading off the higher TF charts rather than the 15m and 1H. I remember someone mentioning that H4 is biased thats why its better to trade off 1H, would it be the case for D1 as well?

Kwannan,

I sometimes use the 10.5 for confirmation on the Higher timeframe, mainly H4 for the Pivots but for some Reason I failed to do that yesterday hence this Trade.

Have a Peek at what I got wrong. That should have been a Buy/Long trade as opposed to the Sell/Short Trade I had Executed. The rare first time I got it totally wrong in 7 days of Trading Naked.

Many Thanks,

xrismak ;)
Author:  kwanann [ Sat Apr 06, 2013 6:54 am ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
xrismak wrote:
kwanann wrote:Had a fantastic week, next week will be trying to adapt CJ trading to a H4 or D1 trading pattern so that i do not need to spend so much time on the charts.

I believe it should be possible though it could be the case that my DD will be quite high.

Just wondering if anyone is trading off the higher TF charts rather than the 15m and 1H. I remember someone mentioning that H4 is biased thats why its better to trade off 1H, would it be the case for D1 as well?

Kwannan,

I sometimes use the 10.5 for confirmation on the Higher timeframe, mainly H4 for the Pivots but for some Reason I failed to do that yesterday hence this Trade.

Have a Peek at what I got wrong. That should have been a Buy/Long trade as opposed to the Sell/Short Trade I had Executed. The rare first time I got it totally wrong in 7 days of Trading Naked.
Many Thanks,

xrismak ;)
Oh man, I was hoping you cleared your shorts before you went to sleep, else it would have gone really bad. Actually one thing good about cj naked trading is the SL. I know where to put to limit the potential damage whereas with 10.4, the 240ma can be quite far away. With such a smal SL, my r:r ratio is much better. Will probably try demo next week till I get a real feel of this
Author:  Pueo [ Sat Apr 06, 2013 7:17 am ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
seanyd wrote:
Technical indicators are not needed or wanted here. CJ doesn't need any indicators to make boatloads of money. If it helps keep you out of trouble then use it, however if you really learn the materials here then I don't think you'll care about any indicator.
Yeah I think you are right I am really trying hard to get this but I am having trouble counting the 3 levels

and getting in at the wrong time .

I use this only for confirmation after I think i`m at the right level.
The levels are good to know but don't make or break the method in my opinion. I think you can still trade this successfully without caring about the "3" levels at all. One of the ways is to simply find M's that happen at previous highs or W's that happen at previous lows (on 4h is easiest).

I recommend you open your Empty4 to a 4 hour chart and then unclick autoscroll (properties) and press home til you go way back in time, then press F12 and go bar by bar. Watch what happens as price makes an M at a previous high, a W at a previous low. You can build your confidence this way and get a feel for which M/W patterns are higher probability.
Author:  seanyd [ Sat Apr 06, 2013 9:33 am ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
Pueo wrote: The levels are good to know but don't make or break the method in my opinion. I think you can still trade this successfully without caring about the "3" levels at all. One of the ways is to simply find M's that happen at previous highs or W's that happen at previous lows (on 4h is easiest).

I recommend you open your Empty4 to a 4 hour chart and then unclick autoscroll (properties) and press home til you go way back in time, then press F12 and go bar by bar. Watch what happens as price makes an M at a previous high, a W at a previous low. You can build your confidence this way and get a feel for which M/W patterns are higher probability.
Thanks Pueo thats another piece of the puzzle I was missing the previous high or low,

so on the 4h I look for previous high or low then a pin bar or rrt forming , do I only look for w or m on the

15min or can I look for these on the 4h as well

thanks again
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