The Captains Chest - Naked Trading & Other Stuff

[hannele]

something weird has apeared on my chart, it's a 15 template from CJ and this arrow has appeared on the GJ M15 saying SSBO Sell 2015-10-7 20.15 190.086. Not a clue what that is. does anyone know?

Hi
SSBO is a box break out system. I think CJ looked into different methodologies before arriving fox hunting, as we all have done. You can check it out at FF.
Do you mind posting that template here please
cheers
hannele

[hannele]

Sorry Websie,

I got it in my collection so no need to post it... too early into morning, my brain (whats left of it...) is not working...

cheers
h

[Occam]

learning, trying, learning, trying... almost getting it...

Great trade ace, you're very close, soon you will be sticking your entry right in that wick or on the candle close! That's exactly the type of setup in the right location that you want to be looking for I reckon.

Here's my H1 level count for that trade on the AU. Not sure if they are right or not as I was uncertain about whether my last level 1 (aqua) is correct (I start a new count after making a level 3 and 3 pushes up - not sure if that's right, still learning) but it means my new level 1 is the same as the last level 3. It doesn't look quite right but I'd gone with it for the moment. It may mean my level 2 is really level 1 but I keep that in mind.

20150711_0926 AU H1.jpg

Anyway PA had made a level and then was retesting the old level 2 at top of M15/M30 range (I've showed M30 just to show more candles but I would be using M15). Level 3 hasn't been retested which often happens as level 3 is often an area of consolidation so its a great spot for short if we get an M. And we do with a great wick on the second leg of a nice big M. So you can enter on the close of the pin or try to get in even higher in the pin because of the location and the wick on the first leg for better R:R.

20150711_0926 AU M30.jpg

And if my level count is out and level 2 is really level 1 etc then it's still a great place to go short, trading at the edges.

Well done ace!

[BenSD]

something weird has apeared on my chart, it's a 15 template from CJ and this arrow has appeared on the GJ M15 saying SSBO Sell 2015-10-7 20.15 190.086. Not a clue what that is. does anyone know?

Hello Occam, sympathy and other pros of the CJs naked system why i was reading through the thread from page one i found somethings that were challenging to me which makes me one to think that some page has been taken off the thread. i read CJ say something about 10.4 template on page 8, post 1, paragraph 3, line 1 to 4, the attached is a screen shot from the page and now wesbie is saying something about 10.2. Please what is template 10.4 and 10.2, and secondly do i have to watch 'Steve marous' market maker method to understand the Asian session n what CJ is teaching, will it help?
thanks for your assistance.

[BenSD]

It happens at different times on each time frame. Look at the lower time frames and 2-D1 candles hold 96-15M candles....look at the action on the H1, H4...the patterns are the same across all time frames and the lower one may give you a clue as to where you are in the pattern.

CJ

this quote is from page 12. Please what does CJ mean when he said "the patterns are the same across all time frames and the lower one may give you a clue as to where you are in the pattern."
What pattern is CJ refering to is it the M n W pattern or the push pattern?

[Occam]

something weird has apeared on my chart, it's a 15 template from CJ and this arrow has appeared on the GJ M15 saying SSBO Sell 2015-10-7 20.15 190.086. Not a clue what that is. does anyone know?

Hello Occam, sympathy and other pros of the CJs naked system why i was reading through the thread from page one i found somethings that were challenging to me which makes me one to think that some page has been taken off the thread. i read CJ say something about 10.4 template on page 8, post 1, paragraph 3, line 1 to 4, the attached is a screen shot from the page and now wesbie is saying something about 10.2. Please what is template 10.4 and 10.2, and secondly do i have to watch 'Steve marous' market maker method to understand the Asian session n what CJ is teaching, will it help?
thanks for your assistance.

Hi Ben

I'm not sure but I believe that CJ is referring to one of Nanningbob's old templates and system called 10.4, and CJ was showing how you can get an earlier entry by using M/W's. Nanningbob has since brought all his systems together with the HGI indicator he recently released. I had a quick look at HGI but I'm not using it, too many indis for me but it is a magnificent piece of work and works very well for Bob and others. Though I wouldn't be trying to use the HGI and trade naked charts at the same time because then by definition the charts are not naked and I think you'll just end up getting confused. Naked and HGI are two different trading methods.

I haven't watched Steve Marou's videos so I can't comment on them but I don't think you need them to understand CJ's Asian session teaching. His basic premise is to avoid trading the Asian session itself but use it's high and lows to see the London breakout, wait for M/W to form at HOD/LOD and then enter to trade with the true trend - pages 69 - 71 have a good discussion on it. I guess the only caveat is that if you see good movement in Asian session and get a good quality ABC or M/W with good pins at a good location then it's got a better chance of giving some decent pips, I've seen sympathy take M/Ws and ADP take ABC setups during Asia. Cheers

[Occam]

It happens at different times on each time frame. Look at the lower time frames and 2-D1 candles hold 96-15M candles....look at the action on the H1, H4...the patterns are the same across all time frames and the lower one may give you a clue as to where you are in the pattern.

CJ

this quote is from page 12. Please what does CJ mean when he said "the patterns are the same across all time frames and the lower one may give you a clue as to where you are in the pattern."
What pattern is CJ refering to is it the M n W pattern or the push pattern?

Hey Ben

He's referring to both. When you see 3 pushes on the H4, each push on H1 is usually a level (containing it's own 3 pushes). And each push on the H1 chart is usually a level on the M15. If you took the timeframe label off a chart you find they all essentially look the same and you can label pushes and levels using the same process. It's like a fractal of a fern leaf or pine cone, it's the same thing repeated over and over just at a different size.

In addition a railroad tracks pin on H1 (ie 2 candles with pins on the high) is usually an M pattern (containing up to 8 candles) on M15. So the M15 can help you get in on the second bar of the H1 RRT setup.

[BenSD]

Hi Ben

I'm not sure but I believe that CJ is referring to one of Nanningbob's old templates and system called 10.4, and CJ was showing how you can get an earlier entry by using M/W's. Nanningbob has since brought all his systems together with the HGI indicator he recently released. I had a quick look at HGI but I'm not using it, too many indis for me but it is a magnificent piece of work and works very well for Bob and others. Though I wouldn't be trying to use the HGI and trade naked charts at the same time because then by definition the charts are not naked and I think you'll just end up getting confused. Naked and HGI are two different trading methods.

I haven't watched Steve Marou's videos so I can't comment on them but I don't think you need them to understand CJ's Asian session teaching. His basic premise is to avoid trading the Asian session itself but use it's high and lows to see the London breakout, wait for M/W to form at HOD/LOD and then enter to trade with the true trend - pages 69 - 71 have a good discussion on it. I guess the only caveat is that if you see good movement in Asian session and get a good quality ABC or M/W with good pins at a good location then it's got a better chance of giving some decent pips, I've seen sympathy take M/Ws and ADP take ABC setups during Asia. Cheers

Thanks once again Sir Occam you and others have been helpful please keep the good work. As the saying goes one good turn deserve another may God Reward us all. tomorrow it may b my turn to be off great help to upcoming newbies.

[Occam]

I thought I would give an example of why I keep rereading CJ's PDF and the 'aha' moment I had this weekend. I promise to stop flogging this hobby horse of mine after this post!

Below is the 3rd chart in the PDF (from page 5). I'm sure you all remember it. There's a lot going on here, but I missed something that becomes obvious once you see it, something that might help with counting pushes and M's.

20150712_0904 Chart 3 page 5.jpg

Below is the same chart with the white text deleted and I've added a few comments myself.

20150712_0828 - Foxy is in the henhouse - Pushes and Lame Ms.jpg

I can honestly say that I do not remember seeing the big red arrow with the words “3 push high” before in my previous readings of the PDF, in fact before this weekend I would have sworn they were not there! I obviously got lost in the comments and didn't look properly at the chart. This chart shows a lot about 3 pushes before consolidation/reversal being a guide, not set in stone.

You can easily see the 3 pushes to the top of the big red arrow, so we are looking for shorts. We then get an M at push 3 BUT look, there are no decent pins in the M. It's a lame M. Foxy isn't leaving any tracks yet. So it's possible/probable there might be another push, so we should just wait and see what happens and wait for foxy to appear.

We get another strong push that watching live you might call push 4, which turns into a stop hunt given it's immediate reversal. And then we get a nice big M forming just above our 3rd push. Foxy is officially in the hen house. Get short on that second leg!

So we have a great example of counting pushes and using M's, and it's on the 5th page. And I haven't appreciated it until now!

The reason why this was an 'aha' moment for me this week was that I traded one of those lame M's without decent pins at what I thought was push 3, with predictable results.

And just to back this up there is another example on page 102 where CJ was explaining why someone's short trade failed. The main reason was that they entered at push 2, but also they traded a lame M – the second leg failed to reach the high with no long pins as CJ points out. 'Aha' again yesterday. Can't unsee that now.
HTF

20150712_0858 Lame M higher TF.jpg

LTF

20150712_0859 Lame M lower TF.jpg

I read all this before but I hadn't “seen” it until experiencing it during trading (at the time I worked out that my failed trade was due to a lame M). Rereading the PDF it now becomes 'aha' obvious and stands out. Now I've “seen” it I can't unsee it.

Hope that helps somebody. Ok, enough from me, I'll stop flogging my “keep re-reading the PDF” hobbyhorse now! Cheers.

[websie]

GBPAUD H1, I entered a little early, whilst mr fox was playing SH, still I am "reasonably" happy with this trade, I think!

Edit: was early, 1 push out but got there in the end. Learning and thinking every day