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The Captains Chest - Naked Trading & Other Stuff
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Author:  Captain Jack [ Thu Mar 07, 2013 5:26 am ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
USDCHF is "pinning" on the D1, in a major area of interest. I would have liked to have seen a taller pin on the first candle and I'm going to hold my stop until the 2nd candle takes form. It is very possible here, that the 2nd will pin higher, and if it does, I will take a 2nd entry there, and then use the high of the 2nd pin for the SL. Early and plenty of time.... In this situation, I'll use the past major high as a mental stop.

CJ
Author:  Aus67 [ Thu Mar 07, 2013 5:35 am ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
Captain Jack wrote:
Jason wrote:When you see the railroad tracks, it has already happened. How do you enter near the top and risk only 15 pips? Is it by looking for railroad tracks on the m15?
Here ya go Jason - this would be a counter trend scalp on the H4...entry right in the pins with SL set right on top of the high pin. You can see my entry and SL at the bottom set of pins. Live setup!

CJ
Hi CJ
Just out of curiosity is your fxcm platform set to GMT? my broker (for the moment) is gmt +2. Although I see the pattern on my chart, it is a tad different, but is this something that you may feel is critical. Ie having a broker running on gmt?

Daryl
Author:  Captain Jack [ Thu Mar 07, 2013 5:52 am ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
Aus67 wrote:
Captain Jack wrote:
Jason wrote:When you see the railroad tracks, it has already happened. How do you enter near the top and risk only 15 pips? Is it by looking for railroad tracks on the m15?
Here ya go Jason - this would be a counter trend scalp on the H4...entry right in the pins with SL set right on top of the high pin. You can see my entry and SL at the bottom set of pins. Live setup!

CJ
Hi CJ
Just out of curiosity is your fxcm platform set to GMT? my broker (for the moment) is gmt +2. Although I see the pattern on my chart, it is a tad different, but is this something that you may feel is critical. Ie having a broker running on gmt?

Daryl
Yes, they are set at GMT. I really pay no attention to the broker time...I have 7 - Empty4 platforms open as well as TradeStation... if you like, you can always get a demo on a GMT broker and check it compared to the GMT+2. I trade them all the same.

CJ
Author:  Jason [ Thu Mar 07, 2013 6:19 am ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
Thanks for answering my previous questions CJ.

I have several more questions :). I can't yet see how to fit your model, i.e. accumulation, spread widen, stop hunt, accumulation, then head fake, from the market maker's bread and butter chart, to other times and pairs.

When trading the 4h chart, do you have to see a period of accumulation before deciding to pick an area of interest and trade?

Why do market makers accumulate positions before the stop hunt?

Why does the spread widen then come back down before the rise up to the stop hunt, i.e. on the market maker's bread and butter chart?

What is a head fake and what is its purpose?

On the first reversal in early Feb (EURGBP), how could we have picked that high as an area of interest?

Are your demo accounts on myfxbook experiments or how you actually trade?

Sorry, so many questions! A really fascinating topic :)
Author:  Aus67 [ Thu Mar 07, 2013 6:23 am ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
Captain Jack wrote:USDCHF is "pinning" on the D1, in a major area of interest. I would have liked to have seen a taller pin on the first candle and I'm going to hold my stop until the 2nd candle takes form. It is very possible here, that the 2nd will pin higher, and if it does, I will take a 2nd entry there, and then use the high of the 2nd pin for the SL. Early and plenty of time.... In this situation, I'll use the past major high as a mental stop.

CJ
Hi CJ
Attached is the 4H and Daily gbpusd...i am thinking that this may be an area of interest for the fox to start hammering shorts and longs. It looks like the low of the day was pushed to hit the previous stops and to load up the short train and now possibly heading up to inflict pain on the shorts.??

On the daily chart do you feel this is the pin forming? it seems to have a long push down and now might head up.

Thanks for your great insight. I have forked out many $1000's attending trading seminars and have never received anything this good! Thank you!
Daryl
GPBUSD.JPG
Author:  mjws00 [ Thu Mar 07, 2013 6:47 am ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
I got my junior foxy glasses on, CJ. I am running charts like a mofo trying to get in their heads. What do you see at the labels. I have a feeling I am seeing what they want me to, but getting closer. Hard right is the obvious magic. Am I looking in the right spots?

I still get lost taking pinbars in realtime, without some kind of SR, trendline or something to guide me. It is really easy to take these early and get faked out. If I go just with my feel for price I do better. I do have serious time logged watching these build out from the 5s chart, and relating those microstructures to the higher timeframes. But just reading the pattern, gets me crushed unless I limit my hunting to certain areas.

Is it best to just pop down a few timeframes to finetune? Sounds like you see these without that.

Wonderful insight so far. Thanks. (Brooks is kicking my butt, holy anal retentive hell.)

Mike
Author:  Captain Jack [ Thu Mar 07, 2013 7:19 am ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
Aus67 wrote:
Captain Jack wrote:USDCHF is "pinning" on the D1, in a major area of interest. I would have liked to have seen a taller pin on the first candle and I'm going to hold my stop until the 2nd candle takes form. It is very possible here, that the 2nd will pin higher, and if it does, I will take a 2nd entry there, and then use the high of the 2nd pin for the SL. Early and plenty of time.... In this situation, I'll use the past major high as a mental stop.

CJ
Hi CJ
Attached is the 4H and Daily gbpusd...i am thinking that this may be an area of interest for the fox to start hammering shorts and longs. It looks like the low of the day was pushed to hit the previous stops and to load up the short train and now possibly heading up to inflict pain on the shorts.??

On the daily chart do you feel this is the pin forming? it seems to have a long push down and now might head up.

Thanks for your great insight. I have forked out many $1000's attending trading seminars and have never received anything this good! Thank you!
Daryl
GPBUSD.JPG
Yes..... easy as that. 8-)

CJ
Author:  Captain Jack [ Thu Mar 07, 2013 8:13 am ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
mjws00 wrote:I got my junior foxy glasses on, CJ. I am running charts like a mofo trying to get in their heads. What do you see at the labels. I have a feeling I am seeing what they want me to, but getting closer. Hard right is the obvious magic. Am I looking in the right spots?

I still get lost taking pinbars in realtime, without some kind of SR, trendline or something to guide me. It is really easy to take these early and get faked out. If I go just with my feel for price I do better. I do have serious time logged watching these build out from the 5s chart, and relating those microstructures to the higher timeframes. But just reading the pattern, gets me crushed unless I limit my hunting to certain areas.

Is it best to just pop down a few timeframes to finetune? Sounds like you see these without that.

Wonderful insight so far. Thanks. (Brooks is kicking my butt, holy anal retentive hell.)

Mike
You running a trade sim or something....lol

Here's a current pic.... actually 2 of them. 4H and the same info compressed to the weekly chart....

CJ
Author:  Captain Jack [ Thu Mar 07, 2013 8:15 am ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
Jason wrote:GPB might go down in a few hours? Rates decision day.
Could be...or it could push higher and support the charts....

CJ
Author:  Captain Jack [ Thu Mar 07, 2013 8:17 am ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
allisonmagic wrote:
Captain Jack wrote:
Jason wrote:When you see the railroad tracks, it has already happened. How do you enter near the top and risk only 15 pips? Is it by looking for railroad tracks on the m15?
Here ya go Jason - this would be a counter trend scalp on the H4...entry right in the pins with SL set right on top of the high pin. You can see my entry and SL at the bottom set of pins. Live setup!

CJ

so you are trading reversals
I trade anything I see on the chart. I didn't trade that 4H scalp as I'm laying on longs....I posted it to show you how they look when they are forming.

CJ
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