Anyone wanna short ?
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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: | blazej [ Thu Mar 06, 2014 10:25 am ] |
| Post subject: | The Captains Chest - Naked Trading & Other Stuff |
Hello IhDT, what do you mean by relying on candles and time of the day? Do you trade on m15 during london and new york? how do You pick your trades? based on candle pattern? please enlighten me if You may. I would be very grateful. Greetings, Blazej |
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| Author: | kwanann [ Thu Mar 06, 2014 12:28 pm ] |
| Post subject: | The Captains Chest - Naked Trading & Other Stuff |
I believe everyone has their own adaption of naked trading, so while the general principles are there, each implementation and use is as different as you are from me. The trading tf matters of course, and lower tf helps you to learn faster. Just be careful of anything below m5 since the whiplash there are quite big. You can play the m15 and swing trade both ways, or you can do the h1 and take your own sweet time. My suggestion is to choose a tf you are comfortable with and then spend time looking at the different pairs and charts, a naked chart works best but you are free to put in aids that you feel will help you End of the day, the main thing is to enjoy the experience (and try not to lose too much.. ) |
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| Author: | botrak [ Thu Mar 06, 2014 4:38 pm ] |
| Post subject: | The Captains Chest - Naked Trading & Other Stuff |
Anyone wanna short ? |
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| Author: | kwanann [ Thu Mar 06, 2014 4:49 pm ] |
| Post subject: | The Captains Chest - Naked Trading & Other Stuff |
i rather go long... [Edit] and here is the reason why... |
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| Author: | renxozuken [ Fri Mar 07, 2014 2:22 am ] |
| Post subject: | The Captains Chest - Naked Trading & Other Stuff |
Kwan, Can briefly explain your chart ? Thanks. Much appreciated. |
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| Author: | lhDT [ Fri Mar 07, 2014 8:56 am ] |
| Post subject: | The Captains Chest - Naked Trading & Other Stuff |
Eu plans for me today. I think we can easly see a nice stophunt near the 1.39 mark during/pre NFP data. As we're in the 3rd leg + end of the week, this thing needs to retrace a bit ahead of the week-end to close near the weekly open. Of course this is purely hypothetical, I will see how price reacts in the [zone] and if it blows, I will simply pass that EU trade.  |
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| Author: | kwanann [ Fri Mar 07, 2014 12:38 pm ] |
| Post subject: | The Captains Chest - Naked Trading & Other Stuff |
@renxozuken Sorry that a multi TF drawing, basically 1 and 2 is the 3 pushes/3 days thing which sets the direction for the "trend" to be long since there are 2 main thrusts on the H1, there should be one more thrust to come. However there is accumulation over the next few days to get everyone on the wrong track (short). On 5th march, the tracks started appearing that they are going long, ie 5th march, level 1. on the 6th march, away they go, L2 Now we are onto the 7th march, what do you think will happen (yeah i know, it happened..) |
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| Author: | ciliano [ Fri Mar 07, 2014 7:16 pm ] |
| Post subject: | The Captains Chest - Naked Trading & Other Stuff |
I think the m15 may only be decent trading during London Session and early NY session (only my opinion). I can't really pay attention during those hours, so I focus on the d1 and h4 now. Using support and resistance has helped me understand what CJ is saying more. Usually the rests and resets in between these three pushes will take place at existing S/R levels. If not, it will create new ones that you can reference later. On the D1 at certain areas, it is fairly simple to predict where price is going so you can use the lower TF level to get a good entry and exit for your higher TF longer term trade. Also, I have been trading unsuccessfully for three years and using price action for a full year unsuccessfully. In just the last few weeks I have become far more confident in what I am doing and understand what is happening on the chart in front of my face. It may just take a time investment as well as study. |
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| Author: | zentauro67 [ Sat Mar 08, 2014 4:29 am ] |
| Post subject: | The Captains Chest - Naked Trading & Other Stuff |
Take a look. This is AUDNZD monthly chart. Still some room for the drop but a big reversal could happen in the next weeks. I´ll be watching for a clear W formation in the 4H chart. |
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| Author: | ianp [ Sat Mar 08, 2014 7:18 am ] |
| Post subject: | The Captains Chest - Naked Trading & Other Stuff |
How about EurUsd nice looking pin in the right place ? |
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So back to topic, do You put support and resistance on d1 and then trade the signal on m15 combined with stacking like CJ. Thank You for reply.