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The Captains Chest - Naked Trading & Other Stuff
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Author:  kwanann [ Mon Aug 12, 2013 10:46 pm ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
pips400 wrote:
banteka wrote: I agree with you both. Stop Hunt to the south at this moment. Reversal in about 2 hours to the north in the LONDON session. Reversal to the south in NY session.
Maybe before going SHORT, I enter LONG during the LONDON session. Then, around the NY opening, close LONG and open SHORT.

The same in GBP/USD
I'm also thinking about a quick long if I see a good setup, before they take price above asian high.
Mised out on this one. Been Wandering thru the charts of recent and I realized that for l1 straightaway e.g eu, you won't typically see it hit Asian high again, usually it will go down since the mm has already set the direction, the herd usually just follows, previous peak high bla bla bla points to a short setup.

In another 8 hours or so I will probably be on the look out for reversal or exhaustion patterns forming, but it needs to be below yesterday lows before that can happen

But first lets book some bluff profits to reward myself :lol:

Seems closed trades don't show the swap. This is the main reason why I ignore swap. If I catch the right direction, swap costs are insignificant to the amount of pips I earn. What's 85c to a 80$ trade
Author:  kwanann [ Tue Aug 13, 2013 1:02 am ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
Not bad trading, up 40% in 10 days, with one trading day of 20% losses, lets see if i can triple the amount in a month.

i still probably fall in the category of exiting early (L2 rather than L3)

What made the difference is the choice of setups as well as removing some preconceptions that i had
  • Swap and spread will be ignored from now onwards. If a trade setup is good, take it, swap and spread are just business costs. Take the AU trade that i had, $120 profit and i paid $2 in swap, thats like 2% of my profit, its insignificant.
  • Correctly identifying the setup, the best setup would be to take a trade in the reverse direction of L3, which typically has choppy behavior, mapping correctly the 3 day cycle, reversal, trapping volume etc helps to arrow down which setup has the best ROI, L1 trades works well too
  • Removing bias. Market makers are there to take your money off you, and they will typically punish the side that has more contracts first. If everything adds up on the M15 to sell, you sell, doesnt matter if the H4 trend is long. Of course a small R:R ratio helps as well.
  • Mark the charts and keep those markings, these images you see are my actual charts, the day hi and low doesnt really matter to me, the ADR does slightly since there is a limit on how much the MM can move price. SMBCP.. well just there for fun now, no real use for it, except maybe to monitor the spread, so yeah my charts are pretty much naked
  • MOST importantly, BELIEVE in your analysis. In yesterday's setup, there was countless times i wanted to give up and just TP because price had retraced. If i were to do that, i would only have gotten 50pips instead 200pips. If you are wrong, just pick up the pieces, find out where you went wrong and get on with life :D
Self enforced no trade day for me today, only paper trading. This is because with a 20% gain or loss, i'm prone to wasting these money with stupid setups

Good luck trading guys! May the pips be with you
Author:  xrismak [ Tue Aug 13, 2013 1:52 pm ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
kwanann wrote:M on eu. Turn around in au. Mm are back in the house

Kwannan D Barbarian,


Looking Good on the Dollar/Swiss and Waiting for the Third Push...... up..... for today's trades.....


Happy Trading Y'all,

xrismak ;)
Author:  zentauro67 [ Tue Aug 13, 2013 2:15 pm ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
What happened to the cable? No news coming, everybody shorting the baby and...
Imagen 001.jpg
Author:  Ingot54 [ Tue Aug 13, 2013 2:24 pm ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
zentauro67 wrote:What happened to the cable? No news coming, everybody shorting the baby and...
MM's excuse to hunt stops ... little else. If you look at the USD news, consensus was for more inventory than they actually found, so it was "good" for the US economy. Doesn't explain why the GBP was bought against the USD, while the EUR was sold at that same moment.

This was purely a play on clearing accounts at the news opportunity, nothing more.
Author:  kwanann [ Tue Aug 13, 2013 2:30 pm ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
Nice one xrismak, you got it right at the pins! Those waitresses at whatever restaurant u going tonight are gonna have a nice fat tip!

Well 3pish, 3 level, day 3 is more or less complete, now we should be looking at ny reversal

So.. If I had left my trades on the table, I would have been looking at an additional 2k pips, especially from the usdjpy.

Like mike says, really brings. Smile to my face when I see those mm in action. They have been relatively gentle on eu and uc. Look at what is happening with gu.. Wow!
Author:  kwanann [ Tue Aug 13, 2013 2:33 pm ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
zentauro67 wrote:What happened to the cable? No news coming, everybody shorting the baby and...
Imagen 001.jpg
Hmm.. If you were to look a eurgbp.. It would have given hints to such an action.. One more push down, meaning eur must go down, gbp must go up
Author:  kwanann [ Tue Aug 13, 2013 2:35 pm ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
Pedigree wrote:
kwanann wrote:Not bad trading, up 40% in 10 days, with one trading day of 20% losses, lets see if i can triple the amount in a month.

i still probably fall in the category of exiting early (L2 rather than L3)

What made the difference is the choice of setups as well as removing some preconceptions that i had.......
Sounds to me like 3 great questions are being answered:

What's working?
What's not?
What's next?

Keep it going......it's usually the precursor to great progress.
Here's wishing you the best.
Thanks pedigree, improvements were made because I managed to find the answers to the questions I posted prior. Won't be sharing them though cos its a journey everyone must undertake on their own. Once you get there.. Haha well my trades shall speak for themselves :D
Author:  Pedigree [ Tue Aug 13, 2013 3:05 pm ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
kwanann wrote:
zentauro67 wrote:What happened to the cable? No news coming, everybody shorting the baby and...
Imagen 001.jpg
Hmm.. If you were to look a eurgbp.. It would have given hints to such an action.. One more push down, meaning eur must go down, gbp must go up
Quite correct!
Author:  Pedigree [ Tue Aug 13, 2013 3:18 pm ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
kwanann wrote:
Pedigree wrote:
kwanann wrote:Not bad trading, up 40% in 10 days, with one trading day of 20% losses, lets see if i can triple the amount in a month.

i still probably fall in the category of exiting early (L2 rather than L3)

What made the difference is the choice of setups as well as removing some preconceptions that i had.......
Sounds to me like 3 great questions are being answered:

What's working?
What's not?
What's next?

Keep it going......it's usually the precursor to great progress.
Here's wishing you the best.
Thanks pedigree, improvements were made because I managed to find the answers to the questions I posted prior. Won't be sharing them though cos its a journey everyone must undertake on their own. Once you get there.. Haha well my trades shall speak for themselves :D
We are all at different locations and although we share a common destination, the instructions from one's satnav will probably not serve the other anyway.

But for me, I have received loads of help from various sources and will not hesitate to give the same whenever it is necessary.
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