The Captains Chest - Naked Trading & Other Stuff

[swisscheese]

USDCAD
I think we have the opportunity to Enter again on Fridays "Short-Levels".

Cheers Edi

Next try

[Durante]

If you look at all those charts, notice where price has moved in relation to the moves it made last week.... When the fox is selling it up, the public is long and he is short....price has to drop price for him to book profits...When the fox is selling it down to the public, he is long and needs to bring price up to book profits....MANY PROFITS WERE JUST BOOKED....

CJ

I wondering why the euro fell out of bed and the pound hasn't moved much.. I'm interested to hear your perspective CJ.

Hi pueo

If I may offer an angle on this... In short, the drop was made in EU and not GU to handle the cross. If you take a look at the three pairs on the daily, you can see that over the last say 2 and a half months GU has gone down hard whilst EU didn't. It went up some and then came back, meanwhile EURGBP moved up a fair bit and then went into the type of holding pattern that I think CJ has been trying to show us. The players use the majors in this way to move the crosses. It looks to me like EURGBP has found a top and GU has bottomed out and my guess is that GU will be pushed up now over the next couple of months in order to drop eurgbp again. Does that make any sense? I hope it answers your question, in part at least

[lhDT]

Arf, can't access the forum when I'm at the office (load balancing et changing IP every 5 sec). Anyway.

Here is my EJ long since this morning.
All working good, currently at +66 +120 & +14.
H4 wil close on 4 min and Doji style, means indecision ... don't like that. I will probably close half.

[Reaper]

Right so here's how I royally messed up today.

I made a whopping 350 pips spread over 40 trades around 85-90% success rate this morning (london open to ny open). I basically doubled my account balance on my live micro account.

I then placed a few short trades on the yen pairs that we giving a potential M patterns at around ny open. Made some pips as they went down some and then I become overly confident and I started adding positions of increasing micro lots sizes. Guess what, Mr fox decides he wants more contracts and sends them up. At this point I thought it was a small retrace and I could ride it out, I then run out of free margin and had to close 2/3 of my trades ( I had alot open lol).

So I lost my profits on the day and half my initial account. However, I'm not that disappointed as micro accounts are the place to live and learn and if I can repeat the success I had this morning then im golden. And if they are some better setups like on friday then even better.

Things I need to be aware of (this might help you too):

1. Do not add multiple positions I cant support with my allocated free margin. As I'm using mental stops, I need to trade smaller or have more margin.

2. Do not forget about the NY open range. Mr Fox can and will try tricks at this time as well as the open of the london session.

3. Do not become overly confident, overly ambitious, and overly greedy.

4. Dont forget about the cycles on the larger TF i.e. 4h/daily. Cycles can verify the pattern and direction.

5. Have more of a bias to trade patterns in the direction of the gap and be very wary about trading in the opposite direction.

6. Get a good nights rest!

[lhDT]

Would love to get your insights on that AU long trade. I got a M & a W

[Mescalitofx]

i didnt exit on the spike down touching the TL(leadin), as it seems the first push down and i dont find a "W" that it would jump up already on lower TF.

edit... what do i see: foxy going to GAP to trick people and take those shorts Stoplosses out.
/\/ forming of the M

[monkeh]

Would love to get your insights on that AU long trade. I got a M & a W

ok, im dying to know if we can consider 2 Leg of M as 1st for W and vice-verca..

[Kruspe]

I would like to see something like this on Eur/Gbp, 3 days down cycle, some consolidation phase.. but it´s only my possible scenario.. fox could change it quickly without asking me

[f451]

Would love to get your insights on that AU long trade. I got a M & a W

ok, im dying to know if we can consider 2 Leg of M as 1st for W and vice-verca..

If that happens you're in a trading range - where you'd be buying the low and selling the high. You really want to see a move after an M or W - hence the 3 day cycles, or 3 pushes if intraday.

[Kruspe]

This one looks also like a good setup, a little bit higher tf.. but looks promising