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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: | rosst [ Fri Mar 15, 2013 9:43 pm ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
Interesting webinar about criminals/brokers http://www.craigharrisforex.com/webinar ... a-oropeza/ |
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| Author: | lhDT [ Fri Mar 15, 2013 9:48 pm ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
A must read "Beat the Forex Dealer" by A.Silvani - http://www.beattheforexdealer.com/. It explains how brokers do their things to kick you out of a trade and ... much more. No systems, no strategies, no price action, just broker facts ! Aside Al Brooks series, this one is a must. PS : Doesn't apply for GP, I hope  |
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| Author: | fire580 [ Fri Mar 15, 2013 10:24 pm ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
Account still pending at FXAW anyone else having this problem been seven days. |
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| Author: | Captain Jack [ Sat Mar 16, 2013 2:05 am ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
Nice Lio. I see several orders there....looks like you are getting the idea of stacking them when price moves in desired direction!. If this is the start of a new 3 day cycle, we could see 2 more days of downward pressure... you have the option of holding to the the next peak low, closing on reversal candles or closing each day as price pulls back into the ranging session and taking new entry when the pattern presents again.... When stacking, I look to the pause in each leg down, as places to add or close positions....many times after a level 3 high or low, there will be 3 legs of price drop or climb... the "M" or "W" may present itself as a reversal pattern when the series is complete. Nice catch!  John |
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| Author: | Captain Jack [ Sat Mar 16, 2013 2:09 am ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
Take note of the "W" that was forming here...sign of pullback into the range near the end of the session (day), and week....look for price to bump up during the "gap" on Sunday/Monday. The gap is really not a gap, just a period of time where most don't have access to the market and price is manipulated. This sets up the Asian ranging session, where I will look to take further SHORT entry. Price may rise during London, present the "M" pattern then reverse into the NY session.... CJ |
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| Author: | Captain Jack [ Sat Mar 16, 2013 2:24 am ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
Sounds great Mike. It's always better to offset a loss this way instead of letting it go and "wishing" for it to return to the positive side. Why leave it in negative float when you can apply the tied up equity to an new order, with better chance for profit. While taking losses are a bad thing....not taking them is even worse. When you see a "straight" away move, you can be sure that there are many negative float positions at that point and the quick, straight move away by price hammers those holders with instant, magnified loss as well as pressing their margin to the limit and beyond. While I don't use the indicators, you all are welcome to post what you use, along with the knowledge you gain here, if you think it can be of benefit to others. CJ |
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| Author: | Captain Jack [ Sat Mar 16, 2013 2:28 am ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
Spring is coming and everything is looking green! Nice work! 50pips at a time is all it takes.... just remember, price swings both ways....you can always reverse into the range and milk a few more.... CJ |
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| Author: | Captain Jack [ Sat Mar 16, 2013 2:30 am ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
This pair may see an extended run up in price, to the last swing high....long term trades may be in order. Continue to buy the dips on the way up.... reverse it back when given correct sign.... CJ |
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| Author: | mobthehop [ Sat Mar 16, 2013 3:30 am ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
CJ, I am busy reading / digesting your old BARF thread over at FXAW while following your ideas over here.... 1. Would it be ok to ask some questions here as you are not active over there anymore? 2. Based on the charts / insights you shared here so far, I never see any consideration of volume at exhaustion / your entry . I know that volume is a bit iffy for FX but have you abandoned this consideration completely? 3. You might have mentioned it before and I overlooked that post (in which case I apologize for the repeated question), but what TZ is your broker's server on? Cheers & thanks for so generously sharing! |
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| Author: | Captain Jack [ Sat Mar 16, 2013 4:21 am ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
The ideas presented here in this thread are different. Volume plays no part as we are looking for specific pattern and behavior. BARF is based on a price volume relationship where volume is falling as price is rising....at price's peak high, falling volume can no longer support it's rise. Price changes direction. I use multiple brokers and they their time zones vary. Some are GMT, some GMT+2, some GMT+5 think....I like to be able to scan the charts on each as they present different. CJ |
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AND The NAP was good Too!