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The Captains Chest - Naked Trading & Other Stuff
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Author:  xrismak [ Mon Mar 11, 2013 5:48 pm ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
Captain Jack wrote:
xrismak wrote:
11-03-2013 17-04-23 EURJPY.png
mjws00 wrote:
Mike
mjws00,

Yes you got it Right, the EURJPY and NZDJPY both tested the WMR1, I am closing my Positions and reverting to the BARF because I expect a Drop anytime Soon., I have a Feeling that if we use both the BARF and NB10.4 systems together and also Study the PINS re: CJ :D we will be singing with the PIPs all the time.

Happy Trading Y'all,
xrismak ;)
Winner winner, chicken dinner! Bank 'em, thank 'em and move to the next! :mrgreen

CJ
CJ,
hahahahahahahahahaha :) , I love this thread, it Opens eyes to things we don't see with Indicators, and if One can sometimes trade without Indicators then one becomes deceptively good at outsmarting those Criminals, Nanningbob does well with his Clear and Coincise Explanations, Indicators and Templates and You Cap it with trading Naked, what more does One want to become Successful except Practice and Patience.

You Guys Just make me Feel Brand new.

Appreciations,
xrismak ;)
Author:  Captain Jack [ Mon Mar 11, 2013 6:02 pm ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
nanningbob wrote:Now look at those pin bars and see what they did. Interesting. Hope I am catching on. If I am getting this right I see a 2nd visit to an area is a nice place to go with it. :)
One thing I want to be sure that everybody understands about these pins. Most times, when they print, they are the result of spread widening. They increase the distance between the bid and ask by 5-8 pips or more. The effect of this is to trip stop loss and buy or sell stops, putting people into bad trades, or causing a loss. When they do this, your TP or SL orders will not be hit as a result of the wide spread. This is important here because so many people use pending orders and stop loss or trailing orders.

This is the same thing that happens at the end of the day. If you want to see it in action, load up a broker who is offering an ECN feed, open an order box near right before 5PM est and watch the bid ask price as the day ends. These are the market makers hitting the stops. I have seen 60 pip spreads when they do this.

Since I place and manage all of my orders, I use market order for entry and exit and very seldom set a stop. I actively manage my trades and do not give them a chance to take an order from me or put me into an order going the wrong way.

CJ
Author:  Captain Jack [ Mon Mar 11, 2013 6:25 pm ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
xrismak wrote:
Captain Jack wrote:
xrismak wrote:
11-03-2013 17-04-23 EURJPY.png
mjws00 wrote:
Mike
mjws00,

Yes you got it Right, the EURJPY and NZDJPY both tested the WMR1, I am closing my Positions and reverting to the BARF because I expect a Drop anytime Soon., I have a Feeling that if we use both the BARF and NB10.4 systems together and also Study the PINS re: CJ :D we will be singing with the PIPs all the time.

Happy Trading Y'all,
xrismak ;)
Winner winner, chicken dinner! Bank 'em, thank 'em and move to the next! :mrgreen

CJ
CJ,
hahahahahahahahahaha :) , I love this thread, it Opens eyes to things we don't see with Indicators, and if One can sometimes trade without Indicators then one becomes deceptively good at outsmarting those Criminals, Nanningbob does well with his Clear and Coincise Explanations, Indicators and Templates and You Cap it with trading Naked, what more does One want to become Successful except Practice and Patience.

You Guys Just make me Feel Brand new.

Appreciations,
xrismak ;)
Bob has a great system. One of the biggest problems that people have, from novice traders to old timers, is capital preservation. Most don't have the funds to trade the way they do and bust out quickly, trying to make a killing. In the forex war, your money is your ammunition. It's no different than chips in a poker game. Bob offers a conservative way to trade, protecting your funds and entering a trade when it is moving in your favor. Follow his plan and you will profit as well as protect your funds. Trade to trade another day.

Bob's plan is also great because a more advanced trader can use it, apply what he knows and take a more aggressive approach to trading. This person may take an earlier entry into the same trades that a more conservative person will enter into later. Safety is built in for the novice. The advanced trader may be able to manage his own safety level. Risk does not increase, but profits can. Until the less experienced trader gains confidence and knowledge, his capital is safe.

I for one would not like to see Bob change his basic 10.4 plan to make it more aggressive. There is an advanced area for trading 10.4 in ways not put forth in the basic thread. This is where people could use what tricks are learned here as well as other methods, like Mike uses, and increase profit without increasing risk or reducing it further. Not everybody understands basic 10.4 let alone adding something like what goes on in here.

When you start banking those green pips on a regular basis, your whole outlook on forex takes on a new look. It's a bright, sun-shinny day!

CJ
Author:  Captain Jack [ Mon Mar 11, 2013 7:26 pm ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
It's about 3:30pm est, look for price bump up or down near the close to lock traders into their trades for the Asian session. Those looking to take profit should do so during this little bump...watch for the pins.

CJ
Author:  Aus67 [ Mon Mar 11, 2013 7:38 pm ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
Captain Jack wrote:
mrelectron wrote:Hi:

I was just looking at these 3 pairs CADJPY, CHFJPY, EURJPY on a 4H chart and they are all remarkably similar in appearance and also have the RRT pattern.

Is there anything in this with regards to fox prints.
3-SIMILAR-PAIRS.png
Thanks
Mark
The fox has taken the day off here....JPY is being "held"..

CJ
...That is because he is reading this thread...and doesn't know what to do next! :lol:
Author:  mjws00 [ Mon Mar 11, 2013 8:14 pm ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
Aus67 wrote:
Captain Jack wrote:
mrelectron wrote:Hi:

I was just looking at these 3 pairs CADJPY, CHFJPY, EURJPY on a 4H chart and they are all remarkably similar in appearance and also have the RRT pattern.

Is there anything in this with regards to fox prints.
3-SIMILAR-PAIRS.png
Thanks
Mark
The fox has taken the day off here....JPY is being "held"..

CJ
...That is because he is reading this thread...and doesn't know what to do next! :lol:
Heh. I actually find myself thinking. "Kill the lights, hit delete. Don't let him know we know." I have never ever thought that way. It is strange. :shock:

Thankfully fear and greed remains somewhat constant, and there are enough external forces it will be hard for them to get tricky trappy and adapt instantly. It is really hilarious to find yourself thinking "Just give me 1 more year. Don't you dare stop cheating now."

:twisted: :twisted: :mrgreen:
Author:  nanningbob [ Mon Mar 11, 2013 9:30 pm ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
Captain Jack wrote:
xrismak wrote:
Captain Jack wrote:
xrismak wrote:
11-03-2013 17-04-23 EURJPY.png
mjws00 wrote:
Mike
mjws00,

Yes you got it Right, the EURJPY and NZDJPY both tested the WMR1, I am closing my Positions and reverting to the BARF because I expect a Drop anytime Soon., I have a Feeling that if we use both the BARF and NB10.4 systems together and also Study the PINS re: CJ :D we will be singing with the PIPs all the time.

Happy Trading Y'all,
xrismak ;)
Winner winner, chicken dinner! Bank 'em, thank 'em and move to the next! :mrgreen

CJ
CJ,
hahahahahahahahahaha :) , I love this thread, it Opens eyes to things we don't see with Indicators, and if One can sometimes trade without Indicators then one becomes deceptively good at outsmarting those Criminals, Nanningbob does well with his Clear and Coincise Explanations, Indicators and Templates and You Cap it with trading Naked, what more does One want to become Successful except Practice and Patience.

You Guys Just make me Feel Brand new.

Appreciations,
xrismak ;)
Bob has a great system. One of the biggest problems that people have, from novice traders to old timers, is capital preservation. Most don't have the funds to trade the way they do and bust out quickly, trying to make a killing. In the forex war, your money is your ammunition. It's no different than chips in a poker game. Bob offers a conservative way to trade, protecting your funds and entering a trade when it is moving in your favor. Follow his plan and you will profit as well as protect your funds. Trade to trade another day.

Bob's plan is also great because a more advanced trader can use it, apply what he knows and take a more aggressive approach to trading. This person may take an earlier entry into the same trades that a more conservative person will enter into later. Safety is built in for the novice. The advanced trader may be able to manage his own safety level. Risk does not increase, but profits can. Until the less experienced trader gains confidence and knowledge, his capital is safe.

I for one would not like to see Bob change his basic 10.4 plan to make it more aggressive. There is an advanced area for trading 10.4 in ways not put forth in the basic thread. This is where people could use what tricks are learned here as well as other methods, like Mike uses, and increase profit without increasing risk or reducing it further. Not everybody understands basic 10.4 let alone adding something like what goes on in here.

When you start banking those green pips on a regular basis, your whole outlook on forex takes on a new look. It's a bright, sun-shinny day!

CJ
I agree, we learn to compliment each other rather than look at each other as rivals. I love to CT trade but I learned from trying to teach all three basic trading methods from 10.0 that I cant. However, other traders have now picked up the slack and I dont have to do that. The CT traders post their ideas and have their threads and I canstay with the basics. Captain Jack is teaching a way to compliment so traders can see things other than dips and rallies and that is good.
Author:  nanningbob [ Mon Mar 11, 2013 9:44 pm ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
Here is 10.4 with a naked screen. The 240 line lights up the way and you know where your bigger profit moves will be. Most professional traders use one or two favorite indis and trade. You take Jack's teaching add one indi and you are set to go with selling rallies in a DT. If you want to add CT trading along with rallies in your DT here is your coach. My lines and indi help with entrances, exits and multiple positions but you can do the 240 and the rest can be naked. This will help you with changes in the major trend without ever reading a paper or news story. So you can trade both ways and properly read the market. Once you understand the complimenting of the systems you are well on your way to becoming a complete trader. Your confidence will soar and then you will look at making some serious money in this business.

You can add extra profits to your trade by having a tighter SL placed above the gray areas and enter off of the bounces in a DT instead of waiting for a cross of a S/R line. Choose your poison as we say. If you want to play multiple levels you still can but that adds more lines to your screen. Either way once you see the compliment and thanks to Trader Jack for showing this, you can multiply your profits. So have fun guys you are entering the realm of the successful professional trader.

Advice dont quit your day jobs yet and have your wife leaving you in 3 months. :)
Author:  Captain Jack [ Mon Mar 11, 2013 9:51 pm ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
nanningbob wrote:
Captain Jack wrote:
xrismak wrote:
Captain Jack wrote:
xrismak wrote:
11-03-2013 17-04-23 EURJPY.png
mjws00 wrote:
Mike
mjws00,

Yes you got it Right, the EURJPY and NZDJPY both tested the WMR1, I am closing my Positions and reverting to the BARF because I expect a Drop anytime Soon., I have a Feeling that if we use both the BARF and NB10.4 systems together and also Study the PINS re: CJ :D we will be singing with the PIPs all the time.

Happy Trading Y'all,
xrismak ;)
Winner winner, chicken dinner! Bank 'em, thank 'em and move to the next! :mrgreen

CJ


CJ
I agree we learn to compliment each other rather than look at each other as rivals. I love to CT trade but I learned from trying to teach all three basic trading methods from 10.0 that I cant. However, other traders have now picked up the slack and I dont have to do that. The CT traders post their ideas and have their threads and I canstay with the basics. Captain Jack is teaching a way to compliment so traders can see things other than dips and rallies and that is good.
You're right Bob. The only competition we face is from those who seek to liberate us from our hard earned money. I'm not talking just about the brokers, dealers and the lot of them. This market is filled with people who can't trade themselves, but will toss out one system and EA after another, prying the money from our hands, to satisfy their own greed.

There is no "perfect" system, EA or manual way to trade. We all need to find what works for us, on an individual basis. That is where the sharing of ideas and info plays a big role. We can take ideas and concepts from each other, apply it to our own trading methods and style and hopefully improve them as we go.

I've already stated that nobody can trade as I do. There is so much that goes through my mind when considering a trade, it would be impossible to put the process to paper. To say, "this is what you need to do, and only this will work for you" is out of the question. But to say, "hey, take a look at this and see how you can use and apply it to your system" may make a huge difference in a traders development.

When we take profit from the market, it is such a small piece that it amounts to nothing. A drop in the ocean compared to the size of the market. There is plenty of profit for all in this business. We just need to learn to take it out and not provide it to others.

Set realistic goals and use the power of compounding to build your account. Trade within your means so you can trade another day if today did not go your way. Not all of them go my way nor will they yours. There is always another trade to be taken right after the one that just finished and they can be placed at any time of the day.

I have a feeling Bob, that your CT skills are going to improve in a short time. I'm all about swing trading. Read the sign of the fox and you'll be swinging soon!

CJ
Author:  Captain Jack [ Mon Mar 11, 2013 10:05 pm ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
nanningbob wrote:Here is 10.4 with a naked screen. The 240 line lights up the way and you know where your bigger profit moves will be. Most professional traders use one or two favorite indis and trade. You take Jack's teaching add one indi and you are set to go with selling rallies in a DT. If you want to add CT trading along with rallies in your DT here is your coach. My lines and indi help with entrances, exits and multiple positions but you can do the 240 and the rest can be naked. This will help you with changes in the major trend without ever reading a paper or news story. So you can trade both ways and properly read the market. Once you understand the complimenting of the systems you are well on your way to becoming a complete trader. Your confidence will soar and then you will look at making some serious money in this business.

You can add extra profits to your trade by having a tighter SL placed above the gray areas and enter off of the bounces in a DT instead of waiting for a cross of a S/R line. Choose your poison as we say. If you want to play multiple levels you still can but that adds more lines to your screen. Either way once you see the compliment and thanks to Trader Jack for showing this, you can multiply your profits. So have fun guys you are entering the realm of the successful professional trader.

Advice dont quit your day jobs yet and have your wife leaving you in 3 months. :)
Good post Bob.

When you set the tight SL here, you have the option of taking a larger entry lot at the same risk, or by by keeping your same lot size, reducing your risk to a minimal number. You really can't imagine what increasing the initial lot size and reducing your SL can mean. The risk is the same, but the rewards are so much greater and the setups are very high probability.

A trade with a large entry lot, moving it the right direction gives you a lot of options going forward.

CJ
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