Ramblings of a Mad Man

[Reaper]

Still focusing entries on the 1hour TF.

Updated Exit Conditions:

1. Initial SL has been hit. (20-35pips)
2. TP has been hit. (1xADR)
3. Close out morning trades by 13:00, and afternoon trades by 20:00
4. Counter trend reversal pattern on 15mins.

Not sure if a 20 EMA is needed to keep me in the trade as I have a time limit on them. However I do need a systematic way to move my SL nevertheless. The last swing high/swing low might be a better more dynamic placement plan.

Gona test things out like this next week.

[marts321]

Yep, levels and lead-in lines can be tricky to determine. We can only use the information the fox gives to us.

I've been using fibs in my past trading, and have noticed price can stick to these very well on certain pairs. I think CJ mentioned them in an earlier post too; that the foxes likes them. In some situations I think they are useful in determining TP levels and generally spotting the reversal levels. Stops will usually just go 10 pips beyond recent High/Low (if using stops). Also I think partial exits might be effective. I actually had some of the best trades I ever seen this week (on demo) thanks to CJ's methods, but a lot of profit back because didn't book it early enough. Excited for these new findings though, very grateful for this forum.

I am only a baby on this thread, got lots of practicing and reading to do yet, but am seeing how our captain has provided some incredible weaponry here..

eurusddaily.png

eurusdh1.png

gbpchfdaily.png

gbpchfm15.png

[intcust]

I have read your post. I suffer from the get out early problem for a long time. What I have done is just set a target and let it ride. I have a method for doing that I could share but risk to reward is very important. CJ touches on this in one of his early post showing how the same risk can get larger returns if the sl is close and the target stays the same. So what I would suggest is trying for a 2 - 4 rate of return. RR makes me think of railroad track reversal so I will use RoR. Moving to breakeven at some point is imparitive what point is the problem I commend you on your trading and enjoy the tread. But to worry about over 100 percent in one week is sad. You should be commended. If I am doing the math correctly you star with say 100 dollars and end up with 200 to me that is 100 percent. If that is the case don't worry just trade it.

[Reaper]

Yep, levels and lead-in lines can be tricky to determine. We can only use the information the fox gives to us.

I've been using fibs in my past trading, and have noticed price can stick to these very well on certain pairs. I think CJ mentioned them in an earlier post too; that the foxes likes them. In some situations I think they are useful in determining TP levels and generally spotting the reversal levels. Stops will usually just go 10 pips beyond recent High/Low (if using stops). Also I think partial exits might be effective. I actually had some of the best trades I ever seen this week (on demo) thanks to CJ's methods, but a lot of profit back because didn't book it early enough. Excited for these new findings though, very grateful for this forum.

I am only a baby on this thread, got lots of practicing and reading to do yet, but am seeing how our captain has provided some incredible weaponry here..

eurusddaily.png

eurusdh1.png

gbpchfdaily.png

gbpchfm15.png

No, your absolutely right, I didnt want to mention it as CJ talks alot about naked trading. Seeing price for price but when you understand what price is doing then you can put stuff back onto your chart.

For instance I use weekly/monthly pivots and 200 ema at the very least right now. I only use these to see where the fox is going to do his tricks. It gives extra confirmation. You don't really need it, you could just wait till an M or W shows up and trade it however I'm finding identification of these zones really do help. I dont use daily pivots as they are not as strong as weekly/monthly pivots.

I thought about fibs also. Most people who are not in the know trade fibs retracements and extensions. This is the wrong way to trade (for me anyway). Fibs are useful to see zones where the fox is going to manipulate the market. I wouldn't use intra day fibs, I would stick to major weekly/monthly highs and lows to draw them and I have tried drawing them and they do work but I haven't standardised a process for drawing them.

Which high? Which low? How many do I use? How far back do I go?

I have tried drawing 5 or 6 on my chart, just the most obvious ones. There then becomes a trade-off. You get to see more likely manipulation zones but then your chart starts to become quite action packed, which isnt exactly naked trading anymore.

[Reaper]

I have read your post. I suffer from the get out early problem for a long time. What I have done is just set a target and let it ride. I have a method for doing that I could share but risk to reward is very important. CJ touches on this in one of his early post showing how the same risk can get larger returns if the sl is close and the target stays the same. So what I would suggest is trying for a 2 - 4 rate of return. RR makes me think of railroad track reversal so I will use RoR. Moving to breakeven at some point is imparitive what point is the problem I commend you on your trading and enjoy the tread. But to worry about over 100 percent in one week is sad. You should be commended. If I am doing the math correctly you star with say 100 dollars and end up with 200 to me that is 100 percent. If that is the case don't worry just trade it.

Thanks, I'm just working on technique at the moment. It seems entries are the easiest part of this system. Trade management and exits are the hard part - I'm still working on that. It does seem identification of the manipulation zones using pivots, fibs, lead-ins lines, or other key levels are the answer for likely TP and better SL placements.

[Reaper]

There is also something else I'm researching right now. CJ touches upon this but doesnt really explain it properly. Price tends to mirror itself. We have seen price create a W within an M and then that M is part of a larger W, which is actually part of a larger M. If you get half way through this complete pattern you could predict price until the symmetry is complete. This I think is how you can predict manipulation and really milk the fox.

There is also vertical and horizontal mirroring as I like to call it but won't go into this just yet.

[intcust]

I have seen quite a few times were a M turns into a W and a W turns into a M any idea on how to predict these? Cannot really figure out were to get in or out of these. I took a long yesterday hunting about 20 pips. It was a classic w bu I got in on the wrong leg of the w so I had a draw down before it hit. Had I seen the w set up I could have gotten in about 8 to 10 pips better and still kept my same stop and I don't even think it would have gone more than a couple pips down. It seems that the best are when 5min - 1 hour are all the same pattern m or w then just get in the pin on the last leg and go. Are you still doing 20-30 pip sl not just going a few pips past the pin. Please let me know.

[Reaper]

I have seen quite a few times were a M turns into a W and a W turns into a M any idea on how to predict these? Cannot really figure out were to get in or out of these. I took a long yesterday hunting about 20 pips. It was a classic w bu I got in on the wrong leg of the w so I had a draw down before it hit. Had I seen the w set up I could have gotten in about 8 to 10 pips better and still kept my same stop and I don't even think it would have gone more than a couple pips down. It seems that the best are when 5min - 1 hour are all the same pattern m or w then just get in the pin on the last leg and go. Are you still doing 20-30 pip sl not just going a few pips past the pin. Please let me know.

I'm still using 20-30 pips SL and aiming for 2-3 x ADR. You cannot just trade Ms and Ws patterns. To make CJ naked trading work you have to understand the levels. The levels are the nuts and bolts of the strategy. I think if you understand them, then Ms and Ms turning into Ws etc will makes sense as where this price action is happening (at what level) gives a lot of useful information.

[Reaper]

What I have realised is that even if someone tells you how to trade, without real experience, day in day out practical experience, you can still fail. Trading CJ's way for a month isnt going to cut it unless you were a profitable trader already. However I'm totally alright spending the next year or more if in the long run I get there or even close to there. Even though the principles sound easy and looking at charts retrospectively make sense, I guess I just need to keep at it so things click in real time.

[Reaper]

Just to update my old thread, this is what's been happening with me.

Angat, I have seen you follow CJ thread since the beginning, I am really curious how's your trading result after all this years, making a fortune? anyway glad to see u back

Hey, thanks man! I'm not sure if I'm back fully. I started an online business last year so I stop trading.

Well, before I stopped I did a lot of research into a couple of famous traders and made an amazing set of discoveries. I'm now convinced to be a million dollar trader you need to know 6 different concepts. Half of those are kindly given to us on a platter by Captain Jack in this thread. There are a couple other things that I have spent months researching last year that are now essential to my trading. They complete the picture so to speak.

The final piece of the puzzle for me personally is patience and discipline. This is stopping me from going from "somewhat profitable" to "high-flier". One of my mistakes back then is that I used to trade the lower timeframes. This did not help me develop patience and discipline at all. There is a lot of noise. Some people can handle it. I know I can't. I now think you absolutely need to learn the correct principles on the higher timeframes properly for months on end then drill down to the lower TFs only if you want. Beginners usually start the other way round and I feel its not good idea at all.

So now I have more time, I'm going to stick on the 2H/4H/1D timeframes. Trades can take hours to set up, can run for days even weeks and can make hundreds of pips. I'm hoping this new trading schedule will instil patience to wait for new trades to form, to wait while the trade goes against you temporarily and to wait till the move is finished, as in "let it run till it's done!".

There were times last year and the year before where I thought I knew what I was doing one week and the then the next I felt a bit lost. I can say now I get it, there is a holy grail but it's not an indicator, its a combination of about 5-6 different essential principles.

Not sure if CJ still reads this thread, if you do mate, thank you again!