The Captains Chest - Naked Trading & Other Stuff

[CCCGAMING]

cccgaming, sorry which pair and tf is that?

Its EURUSD m15

[kwanann]

Here's my version. Seems to be at L3, RRT on M15 does not matter, its RRT on the H1 and above the matters.

They will be torturing the buys for a while, NY session so reversal could be in play.

Me, i'm not so bothered. They took 4 days to get enough volume to move out from 1.31 to 1.32. Previous high has already been broken so they will want to get those buy stops to release their buys first before moving price any higher. Perhaps price will ding dong for 2 days or so then move up (based on news events on ff)

[banteka]

A perfect day in Naked Trading?

[kwanann]

banteka,

u r almost there

[kwanann]

Taking a GBPUSD short. I hope the fox doesn´t bite newcomers.

yes im short also... coz i saw and 3 level of pushes on m15...

Erm.. there is typically 2 times where stop hunts happen, at the changeover from asian to LON and from LON to NY..

what u r trading is the stop hunt.. so u TP at the 3rd candle..

Typically go short when u see the 2nd leg of the M, and go long when u see the second leg of the W.. u can do the first leg if u know what u r doing...

[Ingot54]

I am now 200 pages in to this thread and it has been a real eye opener.

I would like to ask a question to you all if thats ok. If not I'm asking anyway

The problem I have is time. I have a normal job that involves working the uk session. Whilst i am in the office Empty4 is a no go as our data is monitored. I do get to work the odd day from home so chart watching can be done a little.

I suppose what I'm trying to ask is does anyone have these difficulties and trade this system successfully? I can look at my phone whilst in the office but as everyone will know its not great and cant really track spread widening too well.

I suppose another question would be how much time do you need to trade this successfully. Open question I know but I'm sure some of you can probably survive on very little after good experience.
Gareth

Gareth . I don't have to tell you that your first priority is to your job ... but I will

Don't put the cart before the horse. be patient. You may not be able to learn this stuff in one week, but you will surely make a huge dent in it in a month or two. And because the human brain can only take in so much at one time, you are better to reserve your learning time for when you can do so in a guilt-free ... risk-free environment.

By all means print out the .pdf and read it during breaks at work if you can learn that way. But if I may offer advice - be fair to your boss and yourself, and kick back at home with a glass of something, and focus on this where you will have an undisturbed session.

Believe me, your family will not be happy if you come home with a pink slip. And you will miss nothing by allowing the UK session to pass you by. The US session is equally as active - if not more so, and you have the added advantage of not having to look over your shoulder. After all it is none of your workmates business that you trade, and the peace of mind is priceless.

Use your job while you have it to build your trading bank.
Use your time at home for your learning.

This information will give you the keys to the executive washroom.
Take your time ... the hot towels and the spa baths will still be there when you are ready

[kwanann]

So, CCGAMING and Banteka think we are in level 3, but kwanann thinks is level 2, because he reset to 1 after the second W. Is that right?

Not just that.. remember patterns on the M15 will go into the H1 and H4.

Now look at EU H1 and H4, is that a M or is that a stop hunt.

This is very important. If you are trading a stop hunt, always be on the lookout for the reversal point.

Both stop hunts and levels can be 3 candles on the M15 aka the 3 pushes, so if u get it wrong, u will end up finding that you are trading the stop hunt and not the real move. Not say you won't get green pips, but trading stop hunts means you have to be looking at the screen all the time. i seriously hate that so i rather trade the real move, which takes longer to develop and i can sleep in peace knowing it wont go that far wrong

anyway last post for me today. going to leave my trades on the table and check back in about 4 hours time, now is lunch time for the traders anyway so nothing much is gonna happen

Happy trading guys!

PS if u are still shorting GU, there's still time to close it.. don't let mr fox take away ur money

K

[kwanann]

Gareth,

I suppose what I'm trying to ask is does anyone have these difficulties and trade this system successfully? I can look at my phone whilst in the office but as everyone will know its not great and cant really track spread widening too well.

Oh really? I make a decent amount trading purely off the ipad. That said, try not to trade during office hours or when you are stressed. Take it easy. U tend to make mistakes when u cannot concentrate

I suppose another question would be how much time do you need to trade this successfully. Open question I know but I'm sure some of you can probably survive on very little after good experience.

It all depends on u.. each one is different

K

[lilac]

All EUR GBP and AUD against USD look like they are pinning and making an M, and USD against CHF and CAD seem to be reversing too, but I don't know? It looks like they are into something...

Did you notice the move in gold and silver pairs, started at night? It smells fishy... Will they dump it right away as usual, or is this a real up move? Are they already done with their gold sell off?

[banteka]

All EUR GBP and AUD against USD look like they are pinning and making an M, and USD against CHF and CAD seem to be reversing too, but I don't know? It looks like they are into something...

Did you notice the move in gold and silver pairs, started at night? It smells fishy... Will they dump it right away as usual, or is this a real up move? Are they already done with their gold sell off?

yes saw that too. lets see what captain jack is gonna say...

CJ is watching our movements. After all these months, I think it is time for us to demonstrate our learnings. I think we should act by ourselves, without CJ's approval. Be in mind that trading is 20% method and 80% psychology.
CJ has put a very powerful weapon in our hands. But without our mind, it won't work.
So let's start working without CJ...It'll be better for us.
Please, CJ, do not bother. It's not my intention. I hope my words be understood.