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| The Captains Chest - Naked Trading & Other Stuff https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=1572 |
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| Author: | seanyd [ Fri Apr 26, 2013 4:30 pm ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
Thanks very much for your insight , I am studying the tick chart now as I write I can see the patterns over and over but do not understand the scaling changes will continue , Thanks again |
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| Author: | Captain Jack [ Fri Apr 26, 2013 5:29 pm ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
Steve has created a sub forum under this one where you may post anything that you feel may add to what is contained within the thread. It was created so that anybody can add anything to what I have posted, without bringing indicators or other things into the main thread. It's located here: http://www.stevehopwoodforex.com/phpBB3 ... m.php?f=60 Welcome aboard and looking forward to your input. CJ |
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| Author: | Captain Jack [ Fri Apr 26, 2013 5:33 pm ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
I'm not sure I fully understand your question, but if you are trading on the 15M, then you use the high or low of the day. If it's on the D1, then you use the high or low of the week to calculate 3xADR for a 3 level rise or fall. It's always from the high or low of the day or week. CJ |
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| Author: | Captain Jack [ Fri Apr 26, 2013 5:35 pm ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
Not enough time to get into why it's not a BARF.....read this as to the requirements: http://stockcharts.com/school/doku.php? ... un_reversa Looks more like a level 2 down.... CJ |
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| Author: | Captain Jack [ Fri Apr 26, 2013 5:46 pm ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
Watch the tick chart during a slow period..... between NY close and Asian open or when the markets open on Sunday/Monday.... During a slow period, the chart is not as detailed and has fewer ticks....creating a large pattern, but it is less detailed. When there is high liquidity, during NY or London, the tick chart is very detailed, but the scaling changes to show you less of the pattern, but it is more detailed... It's like looking at a D1 chart when the tick volume is slow.....and a M1 chart when the volume is heavy..... Low tick volume - big picture, less detail... High tick volume - small picture, more detail....like zooming in on the big picture.... Find a pattern on the tick chart and you will find it across all time frames at different points in time....they will present themselves on the M1 first and work their way to the largest time frames.... CJ |
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| Author: | Captain Jack [ Fri Apr 26, 2013 5:53 pm ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
Yes...you are getting the hang of it.... the 15M is just the larger moves broken down to be traded over a shorter period. Since the patterns repeat, if there are 3 pushes on the 15M, then there will be 3 on the 30M, 3 on the 1H, 3 on the 4H and so on.... it can not be otherwise since it's the lower candle that form the higher candles.... CJ |
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| Author: | Captain Jack [ Fri Apr 26, 2013 5:55 pm ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
I touched on limit orders as a way to scale into the trades....using a script to place multiple orders inline with expected price direction when a trade setup is found....many examples are posted. CJ |
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| Author: | Captain Jack [ Fri Apr 26, 2013 5:57 pm ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
BTW, take a few screenshots of the tick chart window and in slow times, look through the different time frames on the pair you took it from.... CJ |
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| Author: | Reaper [ Fri Apr 26, 2013 6:22 pm ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
Is there a finite number of patterns and potentially you could become familar with them all? Or is that a stretch? |
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| Author: | Reaper [ Fri Apr 26, 2013 6:33 pm ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
So the best thing i.e. less riskiest thing is to trade in the direction of the larger cycle. So if you know a fresh 4H cycle is starting upwards, you can either try and ride the whole cycle which would include some range/retrace days or try and find the 1H cycle (usually 3 day) cycle within the whole move. Level 2 is the longest and this could be spread over 3 days.. I'm I on track or going off another tangent? lol |
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