The Captains Chest - Naked Trading & Other Stuff

[intcust]

just sold e j playing the range game. target around 138.52 then will buy it if it bounces there. Trouble with this trade is that I really can't stack to close to take profit. If it breaks down then I can add positions. But 20 pips down 20 pips up and one is really near the 50 pip point.

[dockrue]

Are there any other USA traders in this sub forum that can recommend a US broker to use? I've enjoyed doubling a demo account with this method but the leverage is 1:200 so I need to practice on a 1:50 account here in the US.

Thanks,
Brad

[intcust]

dockrue

Oanda or Mb trading are a couple

[intcust]

closed the e j sell and opened a buy got around 16 pips on sell

[djhenry1981]

closed the e j sell and opened a buy got around 16 pips on sell

You're not always wrong

[intcust]

the buy closed out for about 10 pips. Well that is 30 pips in the asian not bad.

[intcust]

oh 30 I did stack for a few pips on the sell so it ended up around 30 pips

[HannesJoubert]

Okay, I'm trying here, so please deliver your comments, and if I have it wrong, please deliver them within an hour so that I can cancel the pendings

Attached are two charts (GU), one daily, one 15m of the trade that I have taken in anticipation (yes, entry may be a bit late). I have taken this trade and placed the pendings based on the fact that we have NFP today, and the tracks left by the Fox as I see them on the charts attached.

What you think? Correct or incorrect, correct interpretation & foolish to take the trades? Or just plane scary?

Just take note that it took me the whole morning of looking at PA on the 15m and then flipping back to the D1 to see. I kept getting differing ideas (long or short), but then I realised that I can go long in the midst of a down trend (i.e. counter trend). I think that the reason it took me so long is that I do not really have confidence in reading the charts yet...

So, fire away, and lets hope that I manage to get something out of the markets today, and that it's not a hiding..

Other than that, enjoy your weekend...

H

[HannesJoubert]

Well, I go the initial direction (Stop hunt?) correct and managed to gain a small profit. The bearish pins did convince me to enter short though...let's see...

[botrak]

Is it BARF? USDCAD D1

Just banked some pips. Thanks CJ.