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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: | Reaper [ Wed Mar 13, 2013 9:20 pm ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
does the second high in the M formation need to be lower or equal to the previous high? Or can it be higher and the pattern still hold? |
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| Author: | Captain Jack [ Wed Mar 13, 2013 9:22 pm ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
Don't look to close...there's a lot of counter trend scalps that I stuck myself with back early in the account. I lost power here for 10hrs and missed the entire London session, where those would have paid off. Some were never closed or tended and a lot of the losses come from this bunch of trades. There's some real stinkers in there too, like when some moron clicked the wrong button for sell or buy and got the wrong side of his trade. not much to do about those but eat em when you find them again. CJ |
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| Author: | Reaper [ Wed Mar 13, 2013 9:26 pm ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
I see on the daily for GBPCHF a W formation. Probably be a good time to go long for 300 points if I had the patience to hold it for that long I'm not sure. |
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| Author: | sat79 [ Wed Mar 13, 2013 9:43 pm ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
Hello Pueo... What ADR and High/Low indys you are using? Can you share or throw link from where to find? I have try to find but havn't find anything what I like yet... |
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| Author: | Captain Jack [ Wed Mar 13, 2013 9:58 pm ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
The USDCHF probably won't hit the limit order....they already stuck SHORTS there.... EURNZD is extended consolidation after the large down move....trapping a ton of volume here.....while holding the LOW.... EURUSD as well as the others..."W" and "M"'s all over....all trade possibilities.... CJ |
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| Author: | hodgires [ Wed Mar 13, 2013 10:00 pm ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
Hi CJ, thanks for starting this wonder thread and sharing your trading style. I am still a struggling trader, and i have come to see that besides having a good point of entry and exit(as your showing us), the one thing the majority of loosing traders do not understand is the money management aspect of trading. In light of this, can u show us a bit of your money management technique, as i think this part of trading determines 70% of any traders success rate. I think it would be the iceing on the cake for us newbies, it will be a great benefit if we can learn from how you manage your trades as well. Many thanks. hodgires |
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| Author: | Captain Jack [ Wed Mar 13, 2013 10:09 pm ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
Pretty well spot on Mike....looks like you are the substitute teacher when I go fishing! CJ |
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| Author: | Captain Jack [ Wed Mar 13, 2013 10:12 pm ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
Step back and take a look at the bigger picture....where are you in the weekly cycle? This plays a major role in what happens next...on the chart though, price will rise into consolidation here from the "W"... CJ |
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| Author: | Captain Jack [ Wed Mar 13, 2013 10:14 pm ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
15M for trade entry and exit and 1H for scans to see the weekly cycle.... CJ |
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| Author: | Captain Jack [ Wed Mar 13, 2013 10:17 pm ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
Enjoy! http://www.youtube.com/watch?v=LEu0p00f3YI CJ |
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