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Re: 10.4 A Complete System (./viewtopic.php?f=38&t=1481&p=43941#p43941)

mrelectron wrote:
Trade from this morning.

[img]
audjpyh4‐a.png
[/img]

Comments welcome

EDIT: I should have set my TP to the low of the current bar (around 94.44) as there is
support going back to the middle of last week. Does that make sense to any
experienced traders out there?

It's a nice trade but there was some AU news released Sunday that caused AU to weaken.... I think I
would let em run until AO swings back to green per Bob's writings. However, any trade with green
pips is better than one with red ones!

CJ

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Re: 10.4 A Complete System (./viewtopic.php?f=38&t=1481&p=43945#p43945)

mrelectron wrote:
<snip>
... AU news released Sunday that caused AU to weaken
</snip>

Thanks CJ, which news are you referring to?

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(./download/file.php?
id=16470&mode=view/3‐4‐2013 2‐25‐50 AM.png)

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Re: 10.4 A Complete System (./viewtopic.php?f=38&t=1481&p=44176#p44176)

I've attached a chart of the EURGBP 10.4 trade that people are considering entering. Here are the
rules as I understand them from Bob:

1. For BUY entry, current price must be above the 240MA line
2. Either of the RSI or Stoch indicator, whichever one you choose to use, must have bottomed or
"flattened" at the low end of the scale
3. When these 2 conditions are met, place a BUY STOP at the nearest support, resistance or pivot
level ABOVE the current price. SL is set at the 240MA level
4. AO condition is not used when setting pending orders, it is used to exit the trade when the bar
changes color. You are in a live long trade, AO color changes from green to orange, exit the long
trade

1. For a SELL entry, current price must be below the 240MA line
2. Either the RSI or Stoch indicator, whichever one you choose to use, must have topped out or
"flattened" at the high end of the scale
3. When these 2 conditions are met, place a SELL STOP at the nearest support, resistance or pivot
level BELOW the current price. SL is set at the 240MA level
4. AO condition is not used when setting pending orders, it is used to exit the trade when the bar
changes color. You are in a live short trade, AO color changes from orange to green, exit the short
trade

I will be starting a thread in the Manual Trades are soon where I will be posting information of price
action trading. I post this chart without Bobs template applied to show you what you are not seeing
when you look only at the lines on a chart. There is a reason price reached each of these levels....do
you know why and for what reason? Each letter represents a very specific action. Actions that are
repeated over and over again. Learn these, apply them to Bobs system or others and you will be
make better trading decisions.
CJ

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(./download/file.php?
id=16567&mode=view/3‐4‐2013 7‐04‐28 PM.png)

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The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?

f=59&t=1572&p=44184#p44184)
I'm going to start a thread here in hopes of providing some insight into trading without systems,
indicators or EA's. Most of you have heard many people talking about trading price. Most of you
probably are still wondering what the hell they are talking about when they say....Trade
price....WTF? This is how I trade and just possibly, the light might turn on for some people and they
will begin to actually "see" price as it really is. I'm not going to get into candlestick patterns as they
are covered by many experts in the field. What I will be talking about is price action and price
patterns ‐ it's what you see on your screen when it's "naked", void of anything that clouds your view.
Perhaps, if you follow along, you will understand better, why price moves the way it does. Price is
"alive" in a manner of speaking. I treat it as a hunter would his prey. Learning it's habits, and it does
have habits that repeat over and over, makes all the difference between bringing home a trophy
buck, putting meat on your table or going hungry another day.

When I look at all the systems, EA's, indicators and a the latest bells and whistles that people use to
make their trades, I can't help but compare those people to "trappers". They are setting a
trap....maybe the fox will show up and get caught, but more than likely, the sly little devil will
backtrack on you and slink away. I'm not saying "trapping" is a bad method for hunting, I'm just saying
all the conditions have to be right for the prey to get caught. This is why ALL EA's and systems work
some of the time, but none them work all off the time. When the conditions are correct, the EA or
system's trap will spring and you got a yourself another pelt. Sometimes, the trap is sprung but fails
to catch the prey and sometimes, the trap never springs. Your success as a "trapper" depends on a
mechanical trap, left to it's own means. Let's not forget that the fox is a cunning creature and he
will learn your trapping ways. He learns to survive by adapting to your ways.Trappers who can't
adapt to the changing ways of the fox, will not last long in the forex wilderness.

On the other hand, the hunter takes more of an active roll in "the hunt". He doesn't just set a box
and come back and check it 4 days later. He spends days in the prey's habitat, learning all he can of
his adversary. He actively tracks his prey, looking for sign along the way. Learning when and where it
feeds, and what it eats and if the prey is large enough, finding the remains of a "trapper" or two
along the way. Soon enough though, the hunter tracks the fox right into his den, where the fox lives
and is most comfortable. Before it knows it, the fox is skinned and the hunter bags another trophy.

Price moves with direction "and" intent. Too many people try to trade direction only and have not a
clue as to the intent of price. Price moves for a set, determined reason. Make no mistake here, price
does not move on it's own. Price is driven or piloted by somebody or some thing. It is driven with
intent. The direction of price is the easy part, it's intent is something entirely different.

Most if not all of the orders placed by every member here and in all the bucket shops across the
world, never see the forex market. They are handled in house, by your brokers. The brokers have
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some influence over price and what happens to your trades. ECN brokers have the widest spread
swings on the planet, blaming liquidity when a 60pip spike takes out your trade. . Staying with a
fixed spread broker gives some protection from these guys but you pay a little more for each trade.
In my trading, I use no stops for 99% of my trades. I trade by the seat of my pants and actively
manage all of my trades If you are serious about trading these markets, sign up for trade rebates
with one of the places on the net that offer them. I receive a 4 digit deposit each month from my
provider as I make a great deal of trades across my accounts.

As the predator, I choose to take the fox in his den along with all his little babies. Learn some
additional skill sets and your trading will improve greatly over time. Enter this thread with an open
mind and leave all your "window clutter" and preconceived notions, ideas and beliefs of the forex
market on the doorstep. You're not in Kansas anymore, Toto.

Enjoy the ride!

CJ

I would highly recommend that you pay a visit to Nanningbobs HGI forum. He teaches a manual
trading method that works, provides guidelines for stacking trades and his HGI indicator works
extremely well without cluttering up your screen and obscuring your view of price. His teachings will
prevent or limit your entries into bad trades if you are trying to learn the naked trading methods, as
well as provide many trade opportunities along the way. .

nanningbob @ HGI (http://www.stevehopwoodforex.com/phpBB3/viewtopic.php?p=105044)

Craig Stoltz at FXAW was gracious enough to compile my BARF Your Way To Profits thread. You can
find the 500+ page PDF here: BARF Your Way To Profits
(https://docs.google.com/file/d/0Bz8Fi4IbaW8bU19fWlRfU25pa0U/edit?usp=sharing)

I've added a couple daily data indicators for visual reference in the RAR file....and placed Mike's
session indicator here as well.

Added Pueo's GMT +0 template

Added StratMans mini chart indicator

Link to Barron's PDF summary of this thread:

https://www.dropbox.com/sh/dxgt5h2fh6mc ... n=10122712
(https://www.dropbox.com/sh/dxgt5h2fh6mc9hs/pR1B0Y1MAF?n=10122712)

Added link to Fahedska's PDF summary of the thread and charts

Fahedska's PDF Summary (https://goo.gl/PXbfKC)
StratmanMiniCharts.zip (./download/file.php?id=17978)
Stratmans mini chart indicator for viewing multiple time frame charts on 1 chart ‐ Thanks to
Lifesys(Paul)!
(448.01 KiB) Downloaded 2093 times
15z.zip (./download/file.php?id=17881)
Pueo's template for GMT+0 brokers
(190.84 KiB) Downloaded 2230 times
Daily_Visuals.rar (./download/file.php?id=17760)
Daily visual indicators
(18.07 KiB) Downloaded 2722 times
Auto_Sessions_v_1.7.IBFX.mq4 (./download/file.php?id=17753)
Mike's session indicator
(9.06 KiB) Downloaded 1925 times

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Re: The Captains Chest ‐ Naked Trading & Other Stuff

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=44185#p44185)
I've been reading Bob's 10.4 Complete System thread and EURGBP has presented a possible trade
setup that fits the system. Here is a chart showing EURGBP without any templates or "dirt" to cloud
view of what lies under the glass of your computer screens. PRICE!

Here you see what you don't see when looking at lines, indicators, dashboards and alert boxes.
PRICE!

A very important event just occurred, actually comprised by a series of related events, on this pair. I
have labeled all the "events' for ease of discussion. Looking at the naked chart, what do you see and
what do you think is happening or just happened here. Let the discussions begin....the only dumb or
stupid questions are the ones not asked.

CJ

(./download/file.php?
id=16569&mode=view/3‐4‐2013 7‐04‐28 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=44307#p44307)
If you were going to war, would you buy your guns and ammo from your enemy? Easy answer ‐ NO!
Unfortunately, in the forex wars, that's exactly what we have to do. The very terminals we use and
the tools provided with them are given to us by the brokers, whose money we are trying to take.
They set on the other side of the glass and they "see" everything we do. They know our habits and
nature much better than we know theirs, or even our own. They know all the "tricks" in the book.
They know all the tools we use and they use those very tools against us.

How many times has a level or pivot point been broken, or a MA line crossed, with an order being
placed, only to see price reverse and head the other way? The fox knows where every level or line is
better than we. Most of these "markers" are used to set buy or sell stops, and TP or SL levels.

A lot of people have heard of "stop hunts" but do they know what they are? Some people think it's a
broker sniping their stops. It's not, although some brokers have been know to spike a spread to clear
them in house. This type of activity has slowed from what it used to be. Has anybody heard of Steve
Mauro? Pretty famous guy in forex who teaches high priced seminars of a subject called the Market
Maker Method. Makes a lot of money doing so.

In the EURGBP chart, what you are seeing in the end of an extended move and the beginning of the
next move. All of the letters on the chart indicate what happens in between, and yes, there's a
"stop hunt" there. The bulls and bears have no control of what has happened here and will happen
time and time again, across all time frames. Price has been driven in many directions, to specific
levels with intent. The rate of change in price is a factor in this process as well. It has been driven

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by that "some one or some thing", likely the Fox, to each point for reason. Trader mentality is the
reason this process occurs over and over again. after all, traders are creatures of habit, set in their
ways.

I'm going to take an early entry into the direction I "think" price will move. I fully expect every trade
I enter to provide me with a profit. It doesn't always happen, but that's my mentality. When I see
"pins" like these, many times I will take entry into a trade I'm considering. I've set a stop here, for
visual purposes, just below the pins. Most of the time, I'll add 10‐15 pips above or below the pin. If
I'm right, I've just entered into a high R:R value trade. If I'm wrong, I've got a very small loss. The
"pins" are not the only reason for entry, but they are one of the "tracks" the fox leaves. Notice also
that a bear pennant "appears" to be forming. This pennant formation, gives me notice of a possible
false move lower before a break higher. The fox lives on deception. Let's see what happens with it.

I'll begin discussing the lettered areas in the next coupe posts.

CJ

(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=44475#p44475)

mjws00 wrote:

Captain Jack wrote:

CJ

Heh. I love it, CJ. You are playing "a level deeper" as we'd say in Poker. I can do this
chart in orderflow perspective as well. Thought you were going for straight up price
action. :) As you said it is much much harder to do in real time. But we can easily see
trapped bulls, bears, and the frustration the market makers have caused in the past.
Reading intent is another game.

Hope you stick around, I promise you'll have at the very least one sponge. Hurry up
already ;) You may be able to tell this dimension excites the hell out of me. Reminds
me of trading lvl2 on the nasdaq.

Thanks again for sharing your wisdom.

Mike

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Love Texas Hold'em and used LvlII on NASDAQ when I day traded back in the good old days. Now
forex catches my eye.

Sorry if I caught ya off guard with the price action wording. Like I say, Al Brooks and places like Your
Trading Coach can do a great job on the specifics from a professional stand point. I'm a mix of
psychology, patterns, habits, traits, ticks and tricks of price and a very different way of looking at
the forex market and what makes price do what it does. It's really hard to explain, especially when I
start showing you "price projections". Sometimes I feel like a modern day hunter, who uses a game
camera to show him the foxes feeding time and location. Then all I have to do is show up on time. ;)

I've been a member here for a long time. Just haven't been very active. Can't promise I'll be regular,
but I'm here for the moment.

I'll be putting up a series of charts explaining what I see happening on the chart. In the mean time,
chew on this one. Just an idea I have.....

CJ

(./download/file.php?
id=16672&mode=view/3‐4‐2013 7‐04‐28 PMtpm.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=44508#p44508)
Here's some of my thoughts on the action from "A" through "C" on the EURGBP pair..... BTW, .8755 is
an area of interest for me here on this long trade....

CJ

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(./download/file.php?
id=16689&mode=view/3‐5‐2013 10‐05‐08 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=44543#p44543)

erikskenne wrote:
Thanks Commander

What I see first is the yellow line which is some kind of middle line from were prize
stretch out from and snap back to, dealing range maybe, then I see that lines as
former support becomes resistance are very important to pay attention to. Also wait
to set yr order until after news release. Just my newbie 2cent

I didn't forget your post as I was saving it for later reply...delivered now.

Yes, the yellow line tends to stand out and grab your attention. I mentioned earlier that price is
always moving, returning to previous levels and that it is drawn to some areas and levels more
frequently than others. Round numbers, sweet spots, pivots, support & resistance, fibo and gann
numbers. Everything we use as tools of the trade as well as some I've missed. Areas that we seek out
in our search for profits. Areas to begin and end trades. In other words, all of the areas that both
bulls and bears frequent together. We've all heard it, "the bulls and bears are fighting it out here"
yada yada... But in reality, it's not the bulls and the bears who control price, it's the fox or the shark
or any number of larger predators who are also attracted to these "areas of interest" that price
seems so drawn to. Remember also that I say price is driven to a point with intent.

My question to you is, do bulls and bears create these areas of interest with their tools of trade, or
are these areas created by something else, to draw the bulls and bears together in a small area?

Hunters, who are predators, will sometimes use sound, corn, feed, meat, scent, dogs, other
hunters, and numerous other methods to draw their prey to them. Sometimes, herding it into a
smaller, confined area. Once the prey is within easy reach, it's an easy kill. Once trapped in a
confined area, it's like shooting fish in a barrel.

Consider the question posed above again and think on this. Is price drawn to these "areas of
interest" because of some tool we use, or because a numerical ratio says it is, or is price driven to
these areas to trap bulls and bears into a feeding zone for the sharks, wolves, jackals and fox that
"hunt" the same areas we do? Are the tools and indicators not the "bait" the fox uses to trap the
bulls and bears? Trapping them in a confined area where confusion, pain and panic set it in?

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Take a look at this chart. Notice the tick volume as this "event" unfolds.

In my opinion, the yellow line and all lines like it are the "bait" that draws the most number of
traders, both bulls and bears, into a killing zone. Most will leave it with lighter accounts.

You can make a lot of money in these areas when you recognize the sign. This is a 4hr chart and
time moves slow. Traders are not focused on the broad picture, but tend to have "tunnel vision".
Their focus is tight and narrow. Also note the "pins" that appear at a lot of the turning point ‐ the
tracks of the fox. When these occur on the lower time frames, scalpers get their asses handed to
them do to the speed of the swings. Again, this is a "dirty" pattern with seeds of deception sown in. .
They usually don't worry about covering it as much in the lower time frame but in the higher ones,
you have more time to analyze it.

CJ

(./download/file.php?
id=16703&mode=view/3‐6‐2013 1‐23‐55 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=44565#p44565)

mjws00 wrote:
Just For Fun Captain. A quick analysis with no Meta. I took the pivots off for clutters
sake.

A ‐ RSI way OB, Outside Band, Pinbar, Pivot there. Sell.

B ‐ Exit at Band, RSI OS, Pivot there. Buy
C ‐ Lower High, Top of Band, RSI Less strength, Pivot, Sell
D ‐ RSI OS, Pivot, Momentum into Band, Buy
E ‐ RSI, Band, Pivot, Sell
F ‐ Same, Double top as well.
G ‐ Same ‐ but weekend. Depends on trader.
H ‐ Looking to Reverse, Fill gap? Punish stuck bulls, I'm not a gap trader in forex, like
em elsewhere.
I ‐ Band trade, RSI not pegged slightly less downward pressure, but price has
plummeted. Bears weakening
J,K Meandering.

We don't really get sucked into the traps set by the market makers at all. Though not
nearly as fun or sophisticated in our analysis. If I was flying naked on a 15minute
chart scalping, they would chop me up in here.

Too off topic? What do you think?

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Mike

Nothing's off topic here Mike. :)

As it's presented, it looks great, but do you trade it that way and were those trades completed? If
you did, it's not per 10.4 rules. When you add the lines back in, that picture changes quiet a bit with
smaller gains and BE trades.

I've mentioned in Bob's thread that he has a well designed system that makes it easy for people to
learn to trade. I've expanded on the fact that Bob says that people tend to rely on "helpers" to find
trades as opposed to learning why conditions exist for taking a trade.

I've been a member here for years and I consider a lot of the users here more experienced than the
every day Joe who hits the pirate sites everyday, downloading all the systems and EA's he or she can
get their hands on. Looking for the "grail", spending all their time, on stuff that does not work, when
they should be learning the basics of trading. But everybody has a different skill set as well as
experience and no matter how you lay out the rules for the posted chart, people will lose money
using it. Not everybody, but some will. That's evident in all the threads where there is a given rule
set, that every trader uses, but not all the traders end with the same results.

I've said early in this thread that I don't advocate people dropping everything they know and joining
me on a naked chart, only to consider what is going on behind the scenes.

I posted this move on a 4hr chart so it would be easy to see. It happened over a period of a month.
The same pattern repeats over all the time frames, and it's on the lower time frames that the
trapping becomes a critical element of the move as you don't have time to react. Not everybody
trades the H4 or D1 time frames, I live on them and play on the lower ones.

The sooner you recognize this pattern, the sooner you would learn when to take earlier entry into
the trades on a 10.4 template, when to stay in them longer and when to shorten your SL to 10‐15
pips.

All I promise if a look into a very radical way of trading and a view from the other side of the glass.
Here's the chart with the lines added....your trade results won't be near the same. You may just
want to use Bob's 5.1MA, chuck all the rest and swing trade it. Whadda you think?

What works for each individual is what is important.

CJ

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(./download/file.php?
id=16715&mode=view/3‐6‐2013 3‐46‐02 AM.png)

(./download/file.php?
id=16712&mode=view/3‐6‐2013 2‐46‐18 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=44573#p44573)
Something to keep an eye on over the upcoming days Mike.

All indicators are still lagging price and will always be behind. There is nothing that can predict the
future path of price. But if there was, it might look something like this.... :shock:

CJ

(./download/file.php?
id=16717&mode=view/3‐6‐2013 4‐02‐48 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=44611#p44611)

Aus67 wrote:

Captain Jack wrote:

Aus67 wrote:

Captain Jack wrote:

Hi CJ
Great thread!
Just browsing through some charts looking for similar events to
what you describe...Although I am not sure of what all the
letters are yet, is the attached 4h usdcad chart displaying the
same kind of event at 1.025?

cheers
Daryl

CJ

In the 15min chart are we still looking at the same pattern on the 4h? which is about
a 350 pip range.
I cant really see much...are we looking for the same pattern?

Here's the USDCAD on both the 15M 30M time frames....same pattern as the 4H on USDCAD and
EURGBP...

CJ

(./download/file.php?
id=16733&mode=view/3‐6‐2013 6‐11‐46 AM.png)

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(./download/file.php?
id=16732&mode=view/3‐6‐2013 6‐08‐29 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=44829#p44829)
Here's chart with some examples of the "railroad tracks" and the "pins" formed at the top and
bottom. If i can get entry in the pins, I'll set a SL of 10‐20 pips above or below the high or low of the
pin. If I'm a little late on entry, I'll set SL at the the pin level. This is one of the few times I set the
stop.

If you look back in the chart history, you probably find many "areas of interest' in the past that
relate to these reversal areas. Remember, the fox like to pull the bulls and bears together so he
looks for common ground.

CJ

(./download/file.php?
id=16808&mode=view/3‐6‐2013 7‐43‐21 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=44844#p44844)

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?

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I've spent enough time in the charts that it's almost automatic for me. You can always drop down
and check the lower time frames if it helps you. There are repetitive patterns in the lower time
frames that occur when the tracks form. You will see the track pattern on all time frames. On a 4H
chart, the first pin bar forms.... while watching the 2nd 4H candle, as soon as I see a pin, and I'm
looking for a trade entry, I place the trade. Pins form fairly quickly since it's a reversal, price pull
back from the extreme to stick the stops that were probably triggered there. A pin high, on top
usually triggers buy stops and when price pulls back, those who hold those trades are stuck. When it
pins low, or the bottom of a candle, its usually trigger sell stops and stick the shorts.

Nobody can tell you when to do it. You have to spend time watching them form and practice trading
it on a demo account. Once they form, price very seldom breaches them and you are in a high value
R:R trade.

When trading these on the D1 you have a lot of time to consider the trade. Here's a past example of
an old live trade I posted on another site. The anchor trade is in the pins and the pyramid trades
are below. The SL for the anchor trade was the top of the red box around the pins.

The only way to learn is to practice.

CJ

(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=44854#p44854)

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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

(./download/file.php?
id=16825&mode=view/3‐6‐2013 10‐21‐02 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=44858#p44858)

garyfritz 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?

That's what I wondered too! By the time you see the RRtrax, the opportunity to enter
"in the pins" is long gone. If you enter up "in the pins" of the first bar, it could just as
easily keep moving in that direction and never FORM the RRtrax.

f451 wrote:
Here's where it gets interesting ‐ if you have buy or sell a LOT.... how exactly
to do you that without pushing the price against your trades? This is where the
foxes and the stop hunts come back in to the picture... you have to induce
someone else to take the other side of your position, so you need to make it
look like taking that other side is an attractive deal... say when price pushes
down below an established support, or the low of the day ‐ just long enough
to induce enough traders to sell ‐ where you as the fox with the big position to
establish are busy buy, buy buying, in full knowledge that price is gonna be
coming back up once those desperate retail sellers are exhausted.

I understand the idea behind this, but I never understood how you could do it. So you
push the price down to induce people to sell ‐‐ well pushing the price down there

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TAKES a lot of selling. So you have to get pretty short in order to push the price to
where you want to buy. Then I would expect buying would push it UP just as fast as
the selling pushed it down, so at the end don't you end up buying back the shorts you
used to push it down, you're about flat, and the price ends up back where you
started?

Take a look at this chart Gary, this is how they form...it's a counter trend scalp on the H4 time
frame.

The thing about this is that when price is pushed to a point, enticing people in, they get stuck with
the trade when price turns quickly and goes against them They will not close for a small loss and as
price moves away, their loss increases. Same when it reaches the other end. What ends up
happening is a group of trades in locked into a position. Price will not go above the longs nor go
below the shorts. neither can get out without a loss. There will be a period of accumulation, where
price stays in a small range, but not exceeding the previous high. This is the Asian session, when the
high and low of the day are established. There will be a point where the spread between the high
and low widens. A lot of people set these new H and L's as the Asian breakout. After this, the
market maker will begin the stop hunt, price moves a lot more and quicker, by now, all the earlier
buyers and sellers are out, most with losses. Price will move high and trigger buy stops, locking
people into positions, quickly reverse to new lows, forcing the buyers hand to dump or enter DD and
triggering sell stops....price will retreat again locking the new shorts in as price runs away from
them.... price will not go above or below the points the stops were taken. This is the stop hunt.
Price tends to form a wedge or triangle as it whips back and forth, each time, staying between the H
and L's, but not breeching the. Longs and shorts are either stuck or out, while the institution
accumulates it's position.

Take a look at the chart.

John

(./download/file.php?
id=16828&mode=view/3‐6‐2013 10‐21‐02 PM.png)

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(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=44866#p44866)

garyfritz wrote:

Captain Jack wrote:

Take a look at this chart Gary, this is how they form...it's a counter trend scalp
on the H4 time frame.

What about the places I circled in red? The pins formed there, and price didn't
reverse. (OK on the first one it reversed a little for one candle, but it didn't reverse
like your examples. Would you have entered there? Would you have tightened up
stops and gotten out early when it didn't work like you expected?)

Fox.gif

It seems to me that you must already KNOW **where** you expect it to reverse. Then
you use the pins as a confirmation that "yes, it's going to reverse NOW." The pins by
themselves aren't a reliable indicator.

So how do you know **where** to look for them?

Good questions Gary. You have to remember in this situation, I "know" what the whole move, from
one end to the other is. When I look for the pins, I look for major turning points. It's why I look at
every chart on my brokers platform. They don't come along every 30 minutes. I look for something
that will provide a nice move, say 100‐200 pips or more. That's why at FXAW, I always looked for the
signals with the highest pip values. I'm not really interested in scalping the smaller inter trend or
counter trend moves, but will take the larger retraces on the major moves. Each of those areas you
circled could provide a scalper a profit. Options if you take something like that is to move your SL to
BE+2 as soon as you are in profit. Look at the D1 time frame...you will see some nice trades across
the board on setups like those.

You can drop to the 15M, 1H or any other time frame and see them as well if you like those periods.

Where do you look for them? Look on one of your 10.4 templates. They are full of them. Most would
put you into a 10.4 trade a full level or more before you would normally enter. By taking the smaller

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SL at the pin level, instead of the MA240, your entry lot would be much larger for the same risk. You
made a picture perfect trade there, look at that trade again. The pins will form at the major
turning points. Use whatever tool you want to help you locate them. I don't post this in Bob's thread
as he teaches his method and I don't want to impose a different set of rules, to confuse people. I've
done this enough, I just trust the pins. FXAW is filled with my charts showing the 1st trade in the
pins. Even if you are a bit late, you can still take entry lower in the candle and still use the pin
extremes for SL. Your risk remains the same, but your R:R value will be a bit lower. When you look at
the 10.4 temp, remember the pins are designed to trip buy or sell stops. Check where they appear
on the pivot levels we all use.

Fire a demo account up and toss trades up when you see them...watch the magic! ;)

Oh, one more point on the red circles...the longer the 1st candle that pins, the better the chance of
getting profit on the second if you are scalping. Not worth it on the shorter candles, unless it
happens at major area of interest.

John

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=44872#p44872)
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

(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=44893#p44893)

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.
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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
The attachment GPBUSD.JPG is no longer available

Yes..... easy as that. 8‐)

CJ

(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=44903#p44903)

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
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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

(./download/file.php?
id=16849&mode=view/3‐7‐2013 3‐04‐09 AM.png)

(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=45039#p45039)
Could be pinning....

CJ
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(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=45058#p45058)

ewinner wrote:
Hi Mike, how about this one?

Mark

The attachment ej.gif is no longer available

Looks like a 3 push high....sell it here as it's pinning

CJ

(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=45062#p45062)
Another look....

CJ

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(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=45075#p45075)

Gertje wrote:
When to close your 'anchor‐trade'?
Reversed RR‐track?

Where do you add trades?

Specific distance between?
[Mid]Pivots like 10.4?

I have no hard rules Gertje....it depends on each trade, how much profit is involved, what type of
retrace is coming up, location in a pattern....lots of different variables. Sometimes I go the distance
with them like this EURNZD trade.....

Adding trades are the same. Sometimes I will close a trade in profit and enter a new one at the
current price if I'm building equity or short on margin. I will post some old charts of live trades I have
taken as I used to post a lot of them as I made them.

You could adapt this to the 10.4 system and the pins would work well there, giving you early entry
instead waiting a level or so. With a larger entry order at the same risk, using a smaller SL, your 1st
level trade R:R ratios will sky rocket. Many trades only go one level or so and this can make a big
difference in profit attained.

John

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(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=45078#p45078)

Captain Jack wrote:

ewinner wrote:
Hi Mike, how about this one?

Mark

ej.gif

Looks like a 3 push high....sell it here as it's pinning

CJ

Took the SL off here for now as price will pin higher during the stop hunt at the top of the 2nd D1
candle. Will close out this trade when in profit and wait for higher high

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=45093#p45093)

Aus67 wrote:
Oh Dear

Looks like the brokers know when one is trading to CJ's method....I have to say that I
have not had this occur on this supposedly reputable aussie broker!

I am sure there is a reasonable reason this happened :lol: :lol: :lol:

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euroYen 15m demo account

requote.JPG

They don't want you stepping on their tail!

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=45098#p45098)
The patterns remain the same across all time frames.....EURGBP M1

CJ

(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=45130#p45130)

mjws00 wrote:
I took this one for fun when the 4hr pin was setting up. I have been waiting to get out
at BE and ride the next move down as per CJ's advice. My entry is terrible. Just an
afterthought to learn with entered from my phone. It is teaching me ;)

That pin and your post had me smilin for a second. They started trapping bears
shortly after that pin. Price never returned to give them a chance. There is a nice
zone coming up where we could turn. Maybe below 125.00, maybe with a burst to
stick bulls on a false breakout above 125.22. Heck they could line something up with
the daily. At that point they will have tortured me sufficiently to teach me a lesson.

The truth remains that there are many weak bulls who haven't had their resolve
tested yet. The fox is coming for them. It just needs to burn us dumbasses who took it
short early first. I'm playing this loose and small. And I ain't posting a loss to screw up
my perfect week.

I'll take posting a green arrow over a trade with a poor ill thought out entry every
time. Fact remains I would have taken that pin all day long. It was placed there to
suck us in. The fox knows we are stuck there. I should have stuck with my first notion

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of lack of knowledge of the fox's intent here, and waited for further confluence and
direction. These foxy bastards are good teachers.

Someone will steal from these weak bull mofos, just a matter of time. Couldn't pay
me to get long here beyond a scalp, so I will take my beating like a man. They can
move this one back in a blink during franky or London. But we could stall through NFP
or they could use that to put the serious pressure on the stuck shorts. But it seems
unlikely. Asia will run it down to the 60's but leave us pinbar pricks stuck until Franky
or London set a direction.

Good one to learn from regardless. I'm doin homework as well, but here I am waiting.

Mike

Not good idea to enter trades in the gap between NY and Asian session or during the Asian session.
They use the Asian session to establish the new High and Low of the day ‐ HOD/LOD... Price is kept
in a narrow range, 25‐50 pips most of the time. It varies with each pair. Spreads widen and if you
enter a trade here, you already stuck. Towards the end of the session, price will move 25‐50 pips
above or below the HOD/LOD during the stop hunt. This stop hunt forms certain patterns, like "M"
an "W"'s or "Railroad tracks" ‐ RRT. RRT's are actually compressed "M" and "W" candle patterns and
should be entered on the 2nd leg or second candle of the RRT. That's why I lifted my stop as the HOD
hasn't been established yet.

Best thing to do is watch price on the 15M time frame...like what's happening on EURGBP now....
heating up a bit....

If you can, demo trade the EURGBP on the 5M time frame over the next few hours...watch what
they do and how you trade based on their actions....good practice cause you're gonna see these
moves across all time frames.

CJ

CJ

(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=45136#p45136)

mjws00 wrote:

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LOL. Yeah. It was a complete rookie error. Told ewinner I would wait. Second guessed
when you showed that pretty little 3 push into the pinbar forming. (Error). It set up
pretty enough, I would still be short (Just another trade).... the difference is I would
have taken a BE+ stop instead of sitting around with my thumb up my butt. Thought I
would be out at BE+ with ya, but it never got there.

Dumb move, sized appropriately small. It will give me a reason to stay up and study
tonight. Should have been on demo, but I learn better with skin in the game. Even if
it's small.

Do you find the "Asian consolidation" theory still to be valid? It seems with Yen and
commodity currencies moving that I see a lot of movement these days during asia.
Very few fake, and break opposite days. If it is still legit, I'll watch it more. Market
making remains constant.

Mike

My bad on the early entry but I did say the 2nd D1 bar would pin higher during the stop hunt... ;)

Lesson's being given on the 5M EURGBP right now...worth a watch...learn it and you can scalp hell
here! LOL

CJ

(./download/file.php?
id=16943&mode=view/3‐8‐2013 12‐30‐49 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=45138#p45138)
EURJPY just broke lower.....watch it on the 5M for a lesson!

CJ

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(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=45295#p45295)

Geges wrote:

BritShrtHair wrote:
think we just saw the pin on EURJPY ?

I'm loving this

Some things never go out of style! :D

CJ

(./download/file.php?
id=16983&mode=view/3‐8‐2013 1‐12‐14 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=45361#p45361)

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Captain Jack wrote:

Something to keep an eye on over the upcoming days Mike.

All indicators are still lagging price and will always be behind. There is nothing that
can predict the future path of price. But if there was, it might look something like
this.... :shock:

CJ

The fox isn't the only predator in the forex forest....

CJ

(./download/file.php?
id=16998&mode=view/3‐8‐2013 9‐43‐56 PM.png)

(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=45366#p45366)

eltax100 wrote:
Hi Mike 3 legs?

Did you see the "M" and "W"'s? This is a H4 chart....look at it on a D1 or weekly

CJ

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(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=45367#p45367)

Geges wrote:

BritShrtHair wrote:
think we just saw the pin on EURJPY ?

I'm loving this

I'm loving this! Like that song you can't get out of your head.....

If it goes down like this, an "M" will form if they didn't trap enough longs....

If they got what they wanted at the top, the the "W" brings them down....where they will collect
shorts at the bottom and run another leg up....

I can see this walking down the line to the 112.50 ‐ 113.50 area, then a run to higher highs...140's at
some time maybe....months away or years maybe for those 140's

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=45473#p45473)

mjws00 wrote:
EURJPY has played out a little more. Here is a pretty picture.

This is a good example of the beginning of a "stop hunt".

The 1st box represents the Asian session and the is when the HOD/LOD is reset. The intent of price
here is to drift in a small range, trapping traders. Price spread will begin to widen and possibly
trigger breakout stops. Note the "bump" in price at the end of the previous NY session. This is
designed to trick people into adding to trades, going with current sentiment (LONG). Price is
dropped, trapping those traders.

As the Asian session ends, price begins to move with "false intent", usually in the direction with
largest sentiment ‐ trend biased traders. Once price has moved 25‐50 pips beyond the Asian range,
the "stop hunt" begins where both bulls and bears are slaughtered. At the end of the "stop hunt",
price will move with intent, in the "true trend" direction, at the direction of the fox.

I use the term "fox" because it is an animal of intelligence and cunning. It is not the bulls, the bears
or even your brokers who create these manipulated price moves. They are the work of the "market
maker" or "dealer", who work for the banks. It is their job to take money from your pockets. This
industry has no regulation, If this type of activity occurred in Las Vegas, Wall Street or Nasdaq, they
would go to prison\ for doing it. Any person who does not recognize these facts is a fool soon to be
parted from their money. Your task is not to profit by trading as you know it, it is to learn their
methods and piggy back their trades. Only by trading in the direction of price, with the intent of the
fox will you make consistent and substantial gains.

You learn by watching these professionals ply their trade, you watch their actions, their every move.
You do not watch all the things that cover their tracks, that is what then want you to do.

If you are dedicated enough to learn these ways, you will be able to trade larger lot sizes, with
confidence and make more in profit from a 20 pip move than a 300 pip move. Your goal is to make
money, not pips. I can generate as much money from 50 pips as 20,000 pips. I have done it to prove
the fact. By being selective and taking these types of trades, your accuracy will skyrocket. Using
these methods, I have scalped 127 winners from 132 trades, in a live, verified account. I have taken

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237 winning trades out of 266, on medium duration time spans on another live account. Do I take
large risks in doing so? Some people think so but they compare what I do to their trading style. This
is my style and my risk of ruin is almost non existent.

Can you trade like me and achieve the same results ‐ no. Don't even try it. Can I teach you to trade
like me ‐ no again. You are not me. What you can do is apply what I do to your trading and improve
on your methods. Make sure you trade with the fox. Place your trades with him and not against him.
He always wins.

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=45486#p45486)

hannele wrote:

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Hi CJ,

Could you post many charts as examples please, since I still can not get FXAW site (
waiting for my membership confirmation). That would keep me busy over the weekend
and visual is always easier to crasp and Im keen as mustard to fully understand this
one. If you have time, otherwise I just hang and wait for FXAW.
Cheers,
hannele

(./download/file.php?
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(./download/file.php?
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(./download/file.php?
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(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=45487#p45487)

hannele wrote:
Hi CJ,

Could you post many charts as examples please, since I still can not get FXAW site (
waiting for my membership confirmation). That would keep me busy over the weekend
and visual is always easier to crasp and Im keen as mustard to fully understand this
one. If you have time, otherwise I just hang and wait for FXAW.

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Cheers,
hannele

(./download/file.php?
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(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=45506#p45506)

xrismak wrote:
The attachment Have a Look 1.png is no longer available

spotdespot wrote:
I'm a bit like pips400 ‐ still looking through a dirty screen. I keep thinking I am
grasping bits of it but I am struggling to separate what I am seeing from other
explanations for the actions. For example I have been looking at WMD's stuff
on FF ‐ Trading With Deadly Accuracy I think it's called. It's naked trading so
hopefully not too far off target for the thread. I keep seeing his "hook"
structure retests of "breakout" areas everywhere ‐ and the reasoning for the
retests is different from CJ's for example but the result is the same.

Also re. trendlines ‐ I think they can be very useful. Again the above thread
opened my eyes a little as once you move away from the rigid preconceptions
of how trendlines should be drawn you can start making some interesting
discoveries. For example ‐ the trendlines drawn below I would not have
drawn previously but I have quite a bit of faith in them in that there will be
some reaction. These particular trendlines were drawn on the weekly chart
from around October 2011 ‐ yet look at the reaction to them now on an H4
chart. In my mind I would be looking for confluence of
trendlines/S/R/Sup/Dem for potential reversal points but I would like to tie
them in with CJ's ideas if I could get my head around them :shock: then
maybe, in time, move on to the other side of the glass and get rid of all the
"noise" :lol:

EDIT: Just seen posts since I started writing this. Mike ‐ what is an "M"? I know

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an M as simply price following that shape but you referred to a double M with
a higher high that I couldn't see for the life of me and I certainly struggle to
see how we predict one on the EJ M15 chart?

Cheers,
Dave.

Spotdespot,

Are we seeing Similar Stuff in different Formats, I might be wrong but I just want to
be sure that I am catching on to the Concept slowly Peeps.

Happy trading Y'all,

xrismak. ;)

Seeing this?

CJ

(./download/file.php?
id=17048&mode=view/3‐10‐2013 1‐31‐37 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=45507#p45507)

xrismak wrote:

Captain Jack wrote:

Jason wrote:

Captain Jack wrote:

Jason wrote:

mjws00 wrote:
CJ

I don't doubt that stop hunting happens often. I

have seen market manipulation all of February and
I was right almost everyday too! :D

Stop hunting is just part of it. It's how they build a position, exit a position,
get traders out of their positions and change direction at times.

Price is always moving, up and down. It has to for them to take profits. Price
must step back to go forward as well as step forward to go back. Getting a
heads on when they change the trend, and they can change it at anytime is
key to improving trading as well. The candle patterns help to identify these
tracks when they leave them. They can try to hide them with deception, but
they can't eliminate them. They are right in front of us but it's up to us to
"see" them. Most people don't because they are looking elsewhere.

CJ

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CJ,
was just trying out your Little Snagit Gizmo, I love it.... I am going to try to use it to
Draw my Trendlines and Built a few roof tops, more like learning to BARF my way to
loads of Profits, :) now let me get back to the Important biz of Learning from you.

Warm Regards,
xrismak ;)

I really like Snagit for the screen caps and editing. So easy to use, works for me!

Here's a roof top for ya!

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=45558#p45558)

BritShrtHair wrote:
CJ, what to say about USDCHF Daily?

There has been a pin over the last resistance.

I'm tempted to go short with SL above that last pin.
Or is there something that tells you to hold on?
(I'm also thinking: isn't this too obvious ?)

Thank you!

My feeling is that if you go short here, you've taken the bait. Your SL at pin high will be taken during
the stop hunt, if not before. A 2nd H4 candle will print and it will probably pin higher. Shorts and
longs are trapped now, as they always are at the end of the day, week, month, etc. When the
market opens, there will be a gap, taking out stops before those trapped even have a chance to do
anything.

During the Asian session, price will drift up and down in a narrow range, resetting the initial
HOD/LOD. Near the London open, price will exceed the range, both higher and lower. This is the
clue that the stop hunt is about to start. Price will begin to move a lot, both ways, enticing traders
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into incorrect positions, stops will be taken out and positions closed at losses. Once this process
completes, the next move takes place. I look for price to end lower going into NY session or reverse
lower during the NY session. This is based on the 15M chart. What takes place on the lower time
frame will also take place on the higher, but over a longer period of time, so the 15M move will give
clue to the longer, more drawn out 4H move to come. So if you are looking to short, wait for a
higher price.

Just an old man's opinion so don't bet the house on it. ;)

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=45563#p45563)

Gertje wrote:

Captain Jack wrote:

xrismak wrote:
[attachment=5]
CJ

Hi CJ,

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What do the M's and W's tell you?

"M" and "W"'s are the expanded view of a RRT formation. When you see a RRT formation of a higher
time frame, drop to a lower and you will see the "M" or "W" formation on the lower time frame.
They are reversal patterns and can be traded profitably.

Entry points are taken on the 2nd leg of each. When looking at these on the charts, they tend to
flow from "M" into "W" or "W" into "M", it's how the work the trends and extract their profits. Straight
line moves, which occur give little time for profit taking. The "M" and "W" patterns are the pull backs
and re‐traces in the market. "W" indicates a rise in price, "M" indicates a drop in price.

CJ

(./download/file.php?
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(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=45602#p45602)

mjws00 wrote:

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Cool. Looked like CJ was making sense of it. But not having access to fxaw... i was
completely lost. Thanks for the clarification.

He is reference is to a method of trading I put forth at FXAW. It is based on Tom Bulkowski's Bump
and Run Reversal formation that is used in the equity markets. I adapted it's use to forex and it is a
highly profitable method of trading.

In essence, price will be rising on a trend, volume will be normal or low. Volume will pickup and
price will rise quickly, forming a "bump" It is a price/volume exhaustion model, that finds reversals in
trend.

(./download/file.php?
id=17088&mode=view/3‐10‐2013 3‐59‐18 PM.png)

I call the pattern a Bump and Run Formation, BARF and the thread at FXAW was titled, "BARF your
way to profits".

EURJPY has presented a BARF, the entry was the 1st time price retraced and broke the trend line.
Price has since retraced to the original entry point, giving a 2nd chance for entry.

CJ

(./download/file.php?
id=17089&mode=view/3‐10‐2013 1‐46‐13 AM.png)

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Re: 10.4 A Complete System

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Re: 10.4 A Complete System (./viewtopic.php?f=38&t=1481&p=45634#p45634)

nanningbob wrote:
10.4 TRADERS ignore this post but for Trader Jack I think this would be a quality Pin
bar trade, if I understand your system properly. Then again maybe I dont.

That pin bar is one of the signs I follow Bob. I've been short in the pair. Many times, you will see
price penetrate a level or pivot with a pin. This is the market maker tripping stops and enticing
traders to take positions there. Many times they are false positions. The pin you refer to is where
LONGS were trapped into there positions Friday, while SHORTS could have had their stops triggered,
taking them out of a trade before it drops.

It's one of many repeat tricks they use every day. Price will range during Asian, then exit the range.
Once price climbs or falls 25‐50 pips beyond the range, as established in Asian session, a stop hunt
will take place. The true direction of price will emerge after the stop hunt...Many times, price will
rise for 2 days as it has here, then reverse on the third day...possibly during NY if not sooner.

You can watch this action on a 15m chart. I expect price to approach the pin high or exceed it a bit,
due to spread widening, before the fall. I will set my stop 10‐15 pips above the finale high pin after
it has formed. Until then, it is a mental stop 25‐50 pips above current high of the white pin.

I could have closed several trades Friday but chose to hold along with several others. I'm sure that
the pins are above a pivot for all pairs. If you can't tell by now, I like to "pin" my orders. R:R value
gets crazy high there. ;)

CJ

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(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=45689#p45689)

nanningbob wrote:

Captain Jack wrote:

mjws00 wrote:
Cool. Looked like CJ was making sense of it. But not having access
to fxaw... i was completely lost. Thanks for the clarification.

He is reference is to a method of trading I put forth at FXAW. It is based on

Tom Bulkowski's Bump and Run Reversal formation that is used in the equity
markets. I adapted it's use to forex and it is a highly profitable method of
trading.

In essence, price will be rising on a trend, volume will be normal or low.

Volume will pickup and price will rise quickly, forming a "bump" It is a
price/volume exhaustion model, that finds reversals in trend.

3‐10‐2013 3‐59‐18 PM.png

I call the pattern a Bump and Run Formation, BARF and the thread at FXAW
was titled, "BARF your way to profits".

EURJPY has presented a BARF, the entry was the 1st time price retraced and
broke the trend line. Price has since retraced to the original entry point,
giving a 2nd chance for entry.

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CJ

Love your thread, hope to be caught up by tonight, on page 18 now. Question are
there a range of degrees for these runs that are fairly standard. I have seen them and
wanted to test them at some time in my life but never got around to it. So is there a
theory that runs will be 30% but when they reach 33 or so look for the 40%+ run or
anything like that?

Thanks for the kind words, Bob.

Here's Tom's site:

http://thepatternsite.com/barrt.html (http://thepatternsite.com/barrt.html)

I believe he developed the pattern in the equities market. I adapted it to the forex market and it
works well. I'll get into this a little deeper as soon as I have time. It's a massive thread at FXAW.
There are some basic rules to follow, concerning volume, and tick volume can be used. The problem
with tick volume is that it is so dependent on each broker platform.

Stockcharts also does a nice presentation of the formation here:

http://stockcharts.com/school/doku.php?
id=chart_school:chart_analysis:chart_patterns:bump_and_run_reversal
(http://stockcharts.com/school/doku.php?
id=chart_school:chart_analysis:chart_patterns:bump_and_run_reversal)

The trend line angles are close to the same, however, they "dirty" the patterns in the forex market
to make them harder to see. They still repeat and it's a great method for longer time frame trading.
I've used this to catch many great runs in pair like GBPJPY and GBPNZD. It's one of my favorite
patterns to use with pyramiding of orders.

There is an example of one of these formations on the EURJPY chart posted a few pages back. Safe
entry is taken when the highest high is tested, the test fails and price retreats and breaks the bump
trend line. Early entry can be take in the "pins" of the highest high, with vary small SL, 15‐20 pips,
and R:R values of 10‐15+ and higher.

On the EURJPY chart, price has retraced back to the entry point. I will be looking for entry this
morning, perhaps early NY session.

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=45846#p45846)

pips400 wrote:
Hi CJ and Mike, we're looking at the EURJPY pair for a BARF entry, I just have a couple
of questions. I'm also running with Bob's 10.4 system here so this would be counter
trend, (which I have no problem with in the right setup). My questions are regarding
stop loss and entries. The attached pic shows two possible places for SL, which one (if
any) would you take, either 1 at the previous swing high, or 2 at the most recent, and

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secondly, with the 10.4 system we would wait for entry at the WP, but it would be a
much higher RR if entry was taken sooner. So if entering sooner, what would be your
signal to do so?

Many thanks,

Pips400

The attachment barf‐eurjpy.jpg is no longer available

The early entry here is according to the Railroad track pattern at the highest high. It is the reversal
signal. When entry is taken there, set SL 10‐15 pips above the HH.

BARF has set rules for entry per this chart. If you look at a longer time frame, D1, you will see that
there is a larger BARF pattern there, which would have provided hundreds of pips in return. Price is
currently back at the original entry point of the D1 BARF, confluence with the H4 BARF.

CJ

(./download/file.php?
id=17158&mode=view/3‐11‐2013 12‐16‐02 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=45848#p45848)

mrelectron wrote:
Hi:

I was just looking at these 3 pairs CADJPY, CHFJPY, EURJPY on a 4H chart and they are
all remarkably similar in appearance and also have the RRT pattern.

Is there anything in this with regards to fox prints.

3‐SIMILAR‐PAIRS.png

Thanks
Mark

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The fox has taken the day off here....JPY is being "held"..movement in the crosses, but for the most
part flat. There is news due out later for the Yen....I expect the action in Asian and later....until
then, it's just chop.

I do expect these pairs to drop when the action picks up, but it's just a guess.

If you compress compress the chart a bit, you will also see a basic 3 push to the high, where the
longs are trapped and consolidation is taking place for later action. This si also called "testing
patience". The Fox wants you to make a mistake as he keeps you waiting.

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=45873#p45873)

xrismak wrote:
11‐03‐2013 17‐04‐23 EURJPY.png

mjws00 wrote:

Mike

mjws00,

Yes you got it Right, the EURJPY and NZDJPY both tested the WMR1, I am closing my
Positions and reverting to the BARF because I expect a Drop anytime Soon., I have a
Feeling that if we use both the BARF and NB10.4 systems together and also Study the
PINS re: CJ :D we will be singing with the PIPs all the time.

Happy Trading Y'all,

xrismak ;)

Winner winner, chicken dinner! Bank 'em, thank 'em and move to the next! :mrgreen:

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=45887#p45887)

xrismak wrote:

Captain Jack wrote:

xrismak wrote:
11‐03‐2013 17‐04‐23 EURJPY.png

mjws00 wrote:

Mike

mjws00,

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Yes you got it Right, the EURJPY and NZDJPY both tested the
WMR1, I am closing my Positions and reverting to the BARF because
I expect a Drop anytime Soon., I have a Feeling that if we use both
the BARF and NB10.4 systems together and also Study the PINS re:
CJ :D we will be singing with the PIPs all the time.

Happy Trading Y'all,

xrismak ;)

Winner winner, chicken dinner! Bank 'em, thank 'em and move to the next!
:mrgreen

CJ

CJ,
hahahahahahahahahaha :) , I love this thread, it Opens eyes to things we don't see
with Indicators, and if One can sometimes trade without Indicators then one becomes
deceptively good at outsmarting those Criminals, Nanningbob does well with his Clear
and Coincise Explanations, Indicators and Templates and You Cap it with trading
Naked, what more does One want to become Successful except Practice and Patience.

You Guys Just make me Feel Brand new.

Appreciations,
xrismak ;)

Bob has a great system. One of the biggest problems that people have, from novice traders to old
timers, is capital preservation. Most don't have the funds to trade the way they do and bust out
quickly, trying to make a killing. In the forex war, your money is your ammunition. It's no different
than chips in a poker game. Bob offers a conservative way to trade, protecting your funds and
entering a trade when it is moving in your favor. Follow his plan and you will profit as well as protect
your funds. Trade to trade another day.

Bob's plan is also great because a more advanced trader can use it, apply what he knows and take a
more aggressive approach to trading. This person may take an earlier entry into the same trades
that a more conservative person will enter into later. Safety is built in for the novice. The advanced
trader may be able to manage his own safety level. Risk does not increase, but profits can. Until the
less experienced trader gains confidence and knowledge, his capital is safe.

I for one would not like to see Bob change his basic 10.4 plan to make it more aggressive. There is
an advanced area for trading 10.4 in ways not put forth in the basic thread. This is where people
could use what tricks are learned here as well as other methods, like Mike uses, and increase profit
without increasing risk or reducing it further. Not everybody understands basic 10.4 let alone adding
something like what goes on in here.

When you start banking those green pips on a regular basis, your whole outlook on forex takes on a
new look. It's a bright, sun‐shinny day!

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=45927#p45927)
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nanningbob wrote:

Captain Jack wrote:

xrismak wrote:

Captain Jack wrote:

xrismak wrote:
11‐03‐2013 17‐04‐23 EURJPY.png

mjws00 wrote:

Mike

mjws00,

Yes you got it Right, the EURJPY and NZDJPY both

tested the WMR1, I am closing my Positions and
reverting to the BARF because I expect a Drop
anytime Soon., I have a Feeling that if we use both
the BARF and NB10.4 systems together and also
Study the PINS re: CJ :D we will be singing with
the PIPs all the time.

Happy Trading Y'all,

xrismak ;)

Winner winner, chicken dinner! Bank 'em, thank 'em and move
to the next! :mrgreen

CJ

CJ

I agree we learn to compliment each other rather than look at each other as
rivals. I love to CT trade but I learned from trying to teach all three basic
trading methods from 10.0 that I cant. However, other traders have now
picked up the slack and I dont have to do that. The CT traders post their ideas
and have their threads and I canstay with the basics. Captain Jack is teaching
a way to compliment so traders can see things other than dips and rallies and
that is good.

You're right Bob. The only competition we face is from those who seek to liberate us from our hard
earned money. I'm not talking just about the brokers, dealers and the lot of them. This market is
filled with people who can't trade themselves, but will toss out one system and EA after another,
prying the money from our hands, to satisfy their own greed.

There is no "perfect" system, EA or manual way to trade. We all need to find what works for us, on
an individual basis. That is where the sharing of ideas and info plays a big role. We can take ideas
and concepts from each other, apply it to our own trading methods and style and hopefully improve
them as we go.

I've already stated that nobody can trade as I do. There is so much that goes through my mind when
considering a trade, it would be impossible to put the process to paper. To say, "this is what you
need to do, and only this will work for you" is out of the question. But to say, "hey, take a look at this
and see how you can use and apply it to your system" may make a huge difference in a traders
development.

When we take profit from the market, it is such a small piece that it amounts to nothing. A drop in
the ocean compared to the size of the market. There is plenty of profit for all in this business. We
just need to learn to take it out and not provide it to others.

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Set realistic goals and use the power of compounding to build your account. Trade within your
means so you can trade another day if today did not go your way. Not all of them go my way nor will
they yours. There is always another trade to be taken right after the one that just finished and they
can be placed at any time of the day.

I have a feeling Bob, that your CT skills are going to improve in a short time. I'm all about swing
trading. Read the sign of the fox and you'll be swinging soon!

CJ

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Re: 10.4 A Complete System (./viewtopic.php?f=38&t=1481&p=45949#p45949)

nanningbob wrote:
NU trade laguerre no signal but crossing back over the pivot line is. Trader Jack would
say look at that possible pin bar.

This is one I've been 'swing trading today Bob. I'm currently short....

This is Asian session. I expect price to range here until London. You will probably get another bar
with a pin high later tonight, that will give better entry. This will cause your indicators to rise
further over time.

Those pins or wicks are what I look for. Especially when they pierce levels and pivots to trigger the
stops and pending orders that are at those levels.

CJ

(./download/file.php?
id=17192&mode=view/3‐11‐2013 6‐31‐41 PM.png)

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Re: 10.4 A Complete System (./viewtopic.php?f=38&t=1481&p=45953#p45953)

Captain Jack wrote:

nanningbob wrote:
NU trade laguerre no signal but crossing back over the pivot line is. Trader
Jack would say look at that possible pin bar.

This is one I've been 'swing trading today Bob. I'm currently short....

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This is Asian session. I expect price to range here until London. You will probably get
another bar with a pin high later tonight, that will give better entry. This will cause
your indicators to rise further over time.

Those pins or wicks are what I look for. Especially when they pierce levels and pivots
to trigger the stops and pending orders that are at those levels.

CJ

When looking at those pins Bob, expand your chart out a take a look at the candle patterns that
form as well. I've been trading the "W" pattern all day.

The pins coincide with the levels on the 10.4 template.

CJ

(./download/file.php?
id=17195&mode=view/3‐11‐2013 6‐52‐28 PM.png)

(./download/file.php?
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f=59&t=1572&p=45957#p45957)

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Spread widening at close today. This is how they hit stops in those pins and why some of your orders
never close or seem to close before you intend them to. Tricks, tricks and more tricks....

CJ

(./download/file.php?
id=17197&mode=view/3‐11‐2013 5‐01‐56 PM.png)

(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=45979#p45979)

Angat wrote:
Hi CJ, thanks for all your trading tips so far, they have really opened my eyes. If you
could post a couple of trades setups as and when they happen, I'm sure that will assist
me and others in what to look for. (I don't care about the quick buck, I just want to be
consistently profitable).

Cheers

I just threw this one on here, it's just a tad late but what do you see? After reading the thread...tell
me what you see. Why did I take the order?

CJ

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(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=45990#p45990)

Angat wrote:

Captain Jack wrote:

Angat wrote:
Hi CJ, thanks for all your trading tips so far, they have really
opened my eyes. If you could post a couple of trades setups as and
when they happen, I'm sure that will assist me and others in what
to look for. (I don't care about the quick buck, I just want to be
consistently profitable).

Cheers

I just threw this one on here, it's just a tad late but what do you see? After
reading the thread...tell me what you see. Why did I take the order?

CJ

a "W" :D

They can be at angles right, as in both bottoms on a gradient?

"W" indicates a BUY on the 2nd leg up...that trade has past.... ;)

CJ

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(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=46003#p46003)
What I saw to make me want to put a trade on here....

CJ

(./download/file.php?
id=17214&mode=view/3‐11‐2013 7‐57‐18 PM.png)

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(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=46006#p46006)

Angat wrote:
Great thanks, so the first "W" failed, however would we have traded it and perhaps
stopped out? or is there something to say the ignore this one.

Perhaps the second leg needed to be the same height as the first? (w/o the pin)

I'm not sure why you are saying the "W" failed....I took several trades based on the "W"....

(./download/file.php?
id=17215&mode=view/3‐11‐2013 8‐41‐36 PM.png)

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=46095#p46095)

erikskenne wrote:
Hi CJ

Does this qualified me as a minor fox, not with out help of course, :D

Been out for a bit...just got back. I was getting worried on the Yen crosses for a bit as it looked like
the previous high was going to be taken. As long as the previous high holds, your trade is good as are
a lot of mine.

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They "spread" a pin up above the old pin high, but this does not invalidate the trade. What is
important here is how long they held the level at the high and didn't pass it. This "normally"
indicates buying the dip and going long....it's "dipping" now....but a dip and rise could lead to a nice
reverse and drop into the NY session. A new high invalidates this trade and we should exit.

CJ

(./download/file.php?
id=17248&mode=view/3‐12‐2013 3‐27‐04 AM.jpg)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=46593#p46593)
Something to monitor, longer term......

CJ

(./download/file.php?
id=17403&mode=view/3‐11‐2013 11‐26‐20 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=46597#p46597)
Here's an older chart that Garyfritz and I were discussing a few months back....price just broke
lower at the point indicated on the chart....sell the rallies on the way down....after it hits bottom
near the indicated point, buy it all the way back up.....

Like the AUDNZD chart, something to monitor going forward....

One more to come....

John
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(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=46599#p46599)
Here's a chart I posted at Forex Factory about 8‐9 months ago....the 2nd chart is an update, the "?"
indicated the current pullback to come.......

Once again, something to watch over the many coming months.... ;)

CJ

(./download/file.php?
id=17408&mode=view/3‐3‐2013 2‐42‐22 PM.png)

(./download/file.php?
id=17407&mode=view/3‐3‐2013 2‐34‐46 PMm.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=46615#p46615)

Pueo wrote:
Am I on the right track here? looking for a W..

Not sure you are going to get that "W"...you just had a 3 push low...RRT reversal up, price will pull
back into the range for Asian...look for stop hunt later. This is a Level 1 drop of a possible 3 day
down cycle...you could have 2 more drops... I would watch for a drop in the London again tonight
and see if it plays out....

The "W" would have come at the very low and if you look at that on the 5M tf, you will probably see
a "W" where the RRT's are located. Don't get confused on the time frames...."W" and "M"'s presented
on the higher time frames offer better trades out of those patterns. They will appear on the lower,
but unless you are an experienced scalper, it's tough to make consistent profits due to the price
range involved and the way they spread price on the bid/ask.

CJ

(./download/file.php?
id=17414&mode=view/3‐13‐2013 2‐26‐40 PM.jpg)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=46621#p46621)

Pueo wrote:
Are these valid W's?

capture13.jpg

Yes....there is also another "M" higher up in the pattern.... nice trade setups with a lot of pips in
each...

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=46631#p46631)

Aus67 wrote:
Hi CJ
For me, a difficult aspect of learning to trade naked (not literally) :shock: is the lack
of sexy indicators that fill my brain with price expectations.
Even though you have taught this expectation 'will be wrong' and my account, like
many, will prove that is is wrong, the indicator is something for us to visually grab on
to.

Naked trading as you teach it, does resonate with me and I know that if I, in time,
can learn to trade this way it will be profitable. I know it is early days for me trading
this way but I am still sensing a 'void' of information on the screen.

I have attached the AUDJPY 15min chart with what I think will happen to price in the
next day or so. My projection is only based on my level of knowledge of 'the fox' and
her tactics, so will most likely be way off the mark. If so, I hope you can say no it
wont do that because of this!!

I find myself looking at a chart and thinking 'what now'?? What will the fox do now and
where will I jump in?? and not really having a clue.

Is this the normal 'learning curve' for naked trading? or am I just unwittingly dim! :lol:

Thanks again for an amazing thread!

Daryl

audjpy.jpg

Do not try to project price....you are a trader, not a mind reader. Your job is to identify the tracks of
the fox and follow....otherwise you are just another trapper, trying to guess where he's going to
show next....

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=46655#p46655)

Aus67 wrote:

Captain Jack wrote:

Aus67 wrote:

Captain Jack wrote:

What I saw to make me want to put a trade on here....

CJ

Hi CJ
If you have a second could you briefly explain what is meant by the
terms 'trapping volume'?
and 'continuation'

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cheers
Daryl

I'll go back and check on the continuation....but "trapping volume" is sticking

the largest amount of contracts or positions. When they spike it low and get a
lot of people looking to short, they pull price back above them. Then they will
drop it again, only not as low as before, enticing more shorts, but not letting
the others out of their positions. Price is still above then. They will do this and
trap a large volume of shorts, then move price away from them....forcing
them to sell at a loss.

Draw a descending trend line and you will see that after a short rise, they
dropped price quickly ‐ one candle. If you draw the descending trend line, you
will see it was near the point of drop. They were trying to say the down trend
was still in effect. Continuation of the down trend so they could get some
more shorts before moving price away from them again.

CJ

Thank you, Oh my God, I didn't realise the fox was such a nasty beast!
Attached is the GBpAud 1Hour chart... Is this another example of trapping short
volume? with a rise to follow?
GbpAud.JPG

Looks that way...series of pins to the low, each one higher that the last....if they get enough volume
there, up it goes.

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=46693#p46693)

lhDT wrote:
My H4 closes in 3 minutes. A couple of Pin alerts.
For a learning process, which one are the good ones ?

The USDCHF probably won't hit the limit order....they already stuck SHORTS there....

EURNZD is extended consolidation after the large down move....trapping a ton of volume
here.....while holding the LOW....

EURUSD as well as the others..."W" and "M"'s all over....all trade possibilities....

CJ

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(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=46703#p46703)

Aus67 wrote:
Just shorted GBPCAD ....putting it out there for comments.
Hopefully someone will point out any errors!

gbpcadpin.JPG

Oh dear! I think I have been out‐foxed :shock:

On the H1, if that's a 3 level high, what comes next?

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=46705#p46705)

Angat wrote:
A perfect setup: accumulation, basic manipulation and profit release..

This is example of a straight away move...they spiked price low...1st leg of the "W" but didn't spike a
2nd leg....no 2nd leg means straight away move...away from trapped volume....

CJ

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(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=46721#p46721)

Angat wrote:
I see on the daily for GBPCHF a W formation. Probably be a good time to go long for
300 points if I had the patience to hold it for that long I'm not sure.

What else do you see? How about a head and should pattern?

What were we just talking about several posts back...on why GBPCHF didn't pull back and ran
straight up instead?

Patterns repeat from the smallest to the highest....same pattern you looked at earlier....

The spiked price down once, formed 1st leg of the "W"....the did not spike the 2nd leg down because
they have enough SHORT volume trapped now and do not want to release it. It's a straight away
trade that's designed to bust out the SHORTS in margin trouble....

When you see this, you BUY. They can still spike a bar down, so your SL is 10 pips past the lowest
low, but they have to move a ton of contracts to do this.... As price moves away, pull your stop up.

CJ

(./download/file.php?
id=17433&mode=view/3‐13‐2013 6‐42‐04 PM.jpg)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=46733#p46733)

f451 wrote:

mjws00 wrote:

Angat wrote:
So my next question is what happens if there is an accumulation
phase after accumulation phase in one direction but no stop run to
indicate how we trade the profit release? I think what the MMs
might be doing here is setting the NY reversal up so the reversal
itself is quick and sharp...CJ ‐ would this make sense or am I
totally wrong?

In leg 1 of the weekly shift. So after they have thrown the brakes on the
weekly cycle and chopped it up. Once they pull away from the new high or
low. Often they skip the stop run back in that direction. They have so much
money trapped at the new high or low, that it is in their best interest to just
turn up the heat, not send it closer and risk losing some fresh meat. They turn
the heat up slowly on their boiling frog so he doesn't jump out of the pot.

Watch the second leg, and backtest. Many many times there is continuation
there. So... they throw what looks to be a FAKE.. all the Frankie/London
open "clever" traders fade it like they have successfully the last 3 days, they
get stuck holding the bag, and the market runs through them.

This is the leg that pays breakout traders. It is the straightaway. It screwed me
over 100 times manually backtesting, but it isn't that hard to spot.

Mike

More detail on how you spot that rare straightaway, would, for us slow learners, be
*most* illuminating :)

Price spikes down once to the low, but fails to form the "W"...price spikes once high but fails to form
the "M"....this is after the Asian session when the range has been set.....NO STOP HUNT

Failed "W" ‐ straight away up.....failed "M" ‐ straight away down.....

Sometimes they will blow the range box out to cover this....and what looks like a stop hunt but it's
not.....

The fox is sly and deception is his nature...

CJ

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(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=46736#p46736)

Jason wrote:

Captain Jack wrote:

hodgires wrote:
Hi CJ, thanks for starting this wonder thread and sharing your
trading style.

I am still a struggling trader, and i have come to see that besides

having a good point of entry and exit(as your showing us), the one
thing the majority of loosing traders do not understand is the
money management aspect of trading. In light of this, can u show
us a bit of your money management technique, as i think this part
of trading determines 70% of any traders success rate. I think it
would be the iceing on the cake for us newbies, it will be a great
benefit if we can learn from how you manage your trades as well.
Many thanks.

hodgires

To put it bluntly....NO! Sorry...

I've already said don't even think about trading as I do. You can't do it. I don't
trade like the majority or traders so I don't use the procedures they use. I'm
not teaching anybody to trade as I do. You need to learn basic money
management, lot sizing and risk. I don't teach or pretend to teach that.

I am a super aggressive trader who will not hesitate to max out my margin. I
am as unorthodox in my money management as I am in my trading beliefs and
I will let my broker close trades for me.

It will not work for anybody but me.

CJ

Does risk management determine 70% of your own trading success CJ?

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Having a good idea of where price is going and in what time frame determines success. Risk is either
reduced or increased based on this fact. My risk is minimal and I trade without stops so how would
you determine my risk?

According to this, I would have to lose 171 consecutive trades to lose 40% of my account....my risk is
minimal.

(./download/file.php?
id=17438&mode=view/3‐13‐2013 7‐35‐36 PM.jpg)

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=46743#p46743)
I should be doing my homework instead of getting caught up on posting....late on this a bit but still
made $$$....

What am I looking for on the BUYS?

A quick pull back into the Asian range and out... nothing more.....at least that's what I hope for.
Where's my risk...just below the lowest pin...

CJ

(./download/file.php?
id=17441&mode=view/3‐13‐2013 7‐50‐18 PM.jpg)

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(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=46756#p46756)
Oh...forgot another NZD "news" trade..... ;)

Here's the closed trade as well as the new SHORT.....Broker took my STOP out here....SL actual high
was 17 pips below my SL....they blew the spread out, and took my stop.....

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=46771#p46771)

Aus67 wrote:

Captain Jack wrote:

Aus67 wrote:
Just shorted GBPCAD ....putting it out there for comments.
Hopefully someone will point out any errors!

gbpcadpin.JPG

Oh dear! I think I have been out‐foxed :shock:

On the H1, if that's a 3 level high, what comes next?

CJ

Price exhaustion, so traders will start to place shorts. The fox will allow shorts then
hunt the price higher to take short stops and at the same time entice more longs,
before pulling price back down ??

..junior fox answer! :?

Not exhaustion, that's at the top....this isn't the top....it's a stop hunt, which hits the stops high and
low....just went.... they hit em high and low...should see a new high soon....hit the stops high then
low and pull it back to range

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=46772#p46772)

Captain Jack wrote:

Aus67 wrote:

Captain Jack wrote:

Aus67 wrote:
Just shorted GBPCAD ....putting it out there for comments.
Hopefully someone will point out any errors!

The attachment gbpcadpin.JPG is no longer available

Oh dear! I think I have been out‐foxed :shock:

On the H1, if that's a 3 level high, what comes next?

CJ

Price exhaustion, so traders will start to place shorts. The fox will allow shorts
then hunt the price higher to take short stops and at the same time entice
more longs, before pulling price back down ??

..junior fox answer! :?

Not exhaustion, that's at the top....this isn't the top....it's a stop hunt, which hits the
stops high and low....just went.... they hit em high and low...should see a new high
soon....hit the stops high then low and pull it back to range

CJ

The fox isn't always active....he tends to set out the 2nd level of a rise or fall....he is very active in
step 1 and step 3. How can you tell? Tick volume!

Take a look at the chart, where is the fox doing his deeds? The 2nd level is usually in the control of
traders who are reacting the what the fox has done in the previous step or level.

Level's 1 and 3 belong to the fox....level 2 is the traders....the tick volume shows this with increased
volume in level or step 1 and 3. Levels 1 and 3 are usually larger in movement than level 2.

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=46799#p46799)

Jason wrote:
When you want to enter the top of a stop hunt with an M top forming and there is
some possibility that it might push higher, where is your usual recommended jumping
in point? Thanks :)

I trade as close to the top (edge) as I can enter....it's a 3 level drop, exit on 3....if you miss it, you
get a 2nd chance on the 2nd leg of the "W"....

CJ

(./download/file.php?
id=17461&mode=view/3‐14‐2013 12‐16‐33 AM.jpg)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=46801#p46801)
I missed the drop in USDJPY while I was posting earlier but I still caught the straight away move back
up off the bottom for a few....anybody else see it? No stop hunt, spike down and no 2nd leg to for a
"W".... easy pips....

CJ

(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47051#p47051)

Pueo wrote:
Captain, this looks like a great short to me, am I missing anything?
capture14.jpg

Yes, the pin above the previous days high was a nice tell.....

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47067#p47067)

monty wrote:
There seems to be a W forming on E/G,on 15m as well as 1h tf.

Am I wright that one could take it long.

I'll refer you back to this chart that I posted back a week ago...

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It looks like EURGBP is about ready to move higher....

It made a nice pin to the low here so I look for it to return to the previous high, retrace a bit then
move to new highs....

This is on the 4H chart so it's an extended move....

CJ

(./download/file.php?
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(./download/file.php?
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(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47081#p47081)

themaxx wrote:

Angat wrote:

Jemook wrote:
An M is un upside down W and a W is an upside down M. I hope
this helps ;)

I get that Jemook, but when you have a M formation going straight into a W
formation going back into another M formation going back into another W
formation its hard to see are you trading the M or the W right now...

I understand to go back to the higher TF and that will help but CJ was saying
that moves happen in 3 (excl stop hunt move). CJ, Can you touch upon this a
little more? Is it always 3? Never 4?

Cheers

In my opinion the second down leg of your W is wrong. I'd have drawn it like this:
tri‐sexualmove.jpg

That's what I was thinking but to little info in that pic to determine anything....

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47095#p47095)

lhDT wrote:
I just shorted the cable pin on h1.
Got two nice bearish M15 candles with almost no wick confirming sellers are back on
track after a strong push up.
Comments welcome.

PS : Hope it is good, I've just read that in the Al Brooks book :)

You could get a little more to the top again, but not much....take a look at it on the H4...nice long
stick and wick....also on the D1....they are in confluence....this leads to stronger moves...

This is where the cycle comes in....GBPUSD has had several days of rising price....this could be the
start of a new 3 day cycle, maybe a weekly reversal....if it is, then there could be an extended drop,
over several days....

Notice how the patterns repeat on the higher time frames....this is where you take the longer term
moves from....

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I'll be stacking orders on this one for weeks! Nice catch Lio! ;)

CJ

(./download/file.php?
id=17532&mode=view/3‐14‐2013 2‐32‐00 PM.jpg)

(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47097#p47097)

Pueo wrote:
This one's been working out nice, got in by the pivot.

The attachment capture18.jpg is no longer available

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Closed as a nice pin on my eurnzd short

The attachment capture19.jpg is no longer available

Sorry I wasn't around to catch this one earlier....but take a look at Lio's post on GBPUSD....he is dead
on!

CJ

(./download/file.php?
id=17533&mode=view/3‐14‐2013 1‐35‐55 PM.jpg)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47105#p47105)

Kruspe wrote:
I took today one GU trade... I attach it here. Could you CJ (or anybody) pls comment
it. :)

The only thing you are going to find on the 5M time frame is pain and suffering....stay on the 15M...

CJ

(./download/file.php?
id=17539&mode=view/3‐14‐2013 3‐07‐46 PM.jpg)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47117#p47117)
What's on my plate..... love me some 4H and D1....

CJ

(./download/file.php?
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(./download/file.php?
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(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47121#p47121)
I have a large plate.... ;)

I'd like for you to take a look at the AUDNZD chart I posted earlier with the projections on it....

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47132#p47132)

Pueo wrote:
CJ, I didn't close my eurnzd short as I was aiming for the adr low and gap close. Do
you think the trade is still good? Thanks for sharing your lunch menu.

Consider and then you decide....

CJ

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(./download/file.php?
id=17566&mode=view/3‐14‐2013 4‐38‐21 PM.jpg)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47135#p47135)
Here's a good one to consider from both sides of the glass....

Notice how they keep validating the fibo levels but the bar for price itself is always moving lower.
This is creating a "false" S/R level. Longs will set buy stops above the false level. The next time up,
those orders will be sitting in an artificially created zone, ABOVE the true price zone. It will be easy
for them to trigger stops at that level again, putting LONGS in a very disadvantaged area.

SHORTS are no better as their stops are inflated as well and the return will see price spread beyond
them and stop them out for increased losses as the pins are used for stops...

Thoughts?

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47149#p47149)
Consider this....it's not our job to "predict" price....we follow price, BUT we can take a close look at
price and consider the possibilities....

Can I say that I'm 100% sure this will happen? No, but it has the potential to happen. No harm in
being prepared in case it does....

You should have a plan for every trade. An entry target, an exit target, stop loss if you use them and
to be able to adapt to what happens along the way. There is no EA or utility out there that can think
like the box on your shoulders.

CJ

(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47159#p47159)
Quick little trade targeting 40pips.....

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Added a SELL limit above the 40 pip TP....SL is noted....lets see how this plays to the London....

CJ

(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47181#p47181)

f451 wrote:
and here is me taking NU a swing before CJ
3‐14‐2013 3‐49‐03 PM‐SK.jpg

You catch it right, you can usually count on 50 pips easy....off the bottom....or 50% from the high to
the low....Fox likes fibo's....

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47198#p47198)

Pueo wrote:
So, I'm hearing that the risk to reward ratio for this trade doesn't put it in the most
desirable categories..

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Trades are there for the taking....should have got in earlier and for more but there's beer money for
the weekend! ;)

CJ

(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47206#p47206)
Stops hit high and low on USDJPY ‐ might be a mover tonight....

CJ

(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47218#p47218)
Set of RRT to the low but not a lower low....

CJ

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(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47240#p47240)
Hit the stops high on USDJPY again....range extension should begin....

CJ

(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47244#p47244)
Range being extended on EURGBP....scalped out of my earlier trades....hope to get in lower again....

CJ

(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47247#p47247)
CHF looks like it's being "held" on some....for the time being...

CJ

(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47287#p47287)

Pueo wrote:
Thanks for the info. That makes a lot of sense to just trade the 15m when it's the
busiest volume time of day and then leave the rest to d/4/1 trades.

I found a barf!

capture9.jpg

I'll get into this a little more as I have time...it doesn't meet the requirements although it looks like
one....

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47289#p47289)
EURBGP range extended....pin to the low...spread past last low....

CJ

(./download/file.php?
id=17598&mode=view/3‐15‐2013 3‐38‐19 AM.jpg)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47347#p47347)

swisscheese wrote:

Captain Jack wrote:

Anybody watching EURNZD?

CJ

CJ

This Level was good for a few Short‐Trades with very low Risk/tight SL.
Maybe it ist still a good Short Level...

Now I'm Long here as the Low prints are pushing higher.

Edi

Unless I'm mistaken, this was the stop hunt.....

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47376#p47376)
Take a look at EURCHF....

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47387#p47387)
USDCHF 3rd leg down to the low...another NY setup possibility.....

CJ

(./download/file.php?
id=17621&mode=view/3‐15‐2013 7‐06‐35 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47390#p47390)
I'll bite on the 2nd leg....

CJ

(./download/file.php?
id=17624&mode=view/3‐15‐2013 7‐19‐22 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47393#p47393)

swisscheese wrote:
AUDCAD looks heavy

1. a Break
2. a retest of the broeken level
3. then Enter short, not like me (alreade short)

Edi

I caught this one up on the "M" pattern.....holding on to it for awhile....

Actually, with NY coming, I'm taking it off the table... will reconsider later...might get a bounce
here...

Looking to reverse and go long into NY....upon 2nd look....

Couple more looking like NY material

CJ

(./download/file.php?
id=17629&mode=view/3‐15‐2013 7‐35‐23 AM.png)

(./download/file.php?
id=17628&mode=view/3‐15‐2013 7‐35‐45 AM.png)

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(./download/file.php?
id=17627&mode=view/3‐15‐2013 7‐28‐59 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47463#p47463)
Hey Lio....this one's for you! :mrgreen:

Scalping the pin.....

(./download/file.php?
id=17641&mode=view/3‐15‐2013 9‐03‐29 AM.png)

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47488#p47488)

lhDT wrote:

Captain Jack wrote:

Hey Lio....this one's for you! :mrgreen:

Scalping the pin.....

3‐15‐2013 9‐03‐29 AM.png

CJ

Grrr nice :)
I got spiked on E/N ended with SL hit then it reversed. This with some others losses
ruined my weekly profits (using 10.4).
Need to learn avoiding sl with your method.

We need to remember that when a new session starts, they hit the stops, high and low....to lock
traders in positions for the oncoming session. Take a look at the pin high and pin low on a lot of the
charts....it happens on every session change....
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CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47506#p47506)
Long list is open orders...short list are booked trades.....

I hope you guys and gals got some of them....it's hard to post every chart when trading....

The 4H charts I posted are also open....

Need a nap before the close....

CJ

(./download/file.php?
id=17650&mode=view/3‐15‐2013 11‐32‐46 AM.png)

(./download/file.php?
id=17649&mode=view/3‐15‐2013 11‐32‐09 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47517#p47517)
Stacked and Jacked, Lio! :mrgreen:

I see 2 legs down with the 3rd started...looking for pins to close out before the pull back into the
close...

CJ

(./download/file.php?
id=17678&mode=view/3‐15‐2013 12‐22‐45 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47525#p47525)

SWG123 wrote:
Anyone barfing on GU?

gu 130315.gif

I have it short but for other reasons. Have you noticed how they have "dirtied" up the candle
patterns? Those used to be so easy to see...now it's pins and runs all over that require
"interpretation"... very few clean patterns anymore....

Nice find though! :D

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47532#p47532)

mjws00 wrote:
I think that EURNZD chart is one of the prettiest I've ever seen.

Everything on my much smaller board was green. I am flat for the weekend. Almost
left everything to run. But we all know I'll be there to hit the trigger Monday. And I
LIKE MONEY in my acct.

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Now I can play on this thread and study in peace. ;) AND The NAP was good Too!

Mike

Missed the nap here...early to bed tonight....I mean this evening lol....

Glad to hear your green going forward, that's where we all want to be.

A lot of these are starting a new 3 day cycle so I'll probably carry over the weekend...it they hit
right, I won't have to pay triple the freaking swap Wednesday! :evil:

On 2nd thought, went ahead and booked a bunch of those...."W" forming on the lower ends....

Took a few orders going the other way, into the close. Will hold for the gap on Monday...

CJ

(./download/file.php?
id=17677&mode=view/3‐15‐2013 12‐57‐17 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47611#p47611)

Captain Jack wrote:

mjws00 wrote:
I think that EURNZD chart is one of the prettiest I've ever seen.

Everything on my much smaller board was green. I am flat for the weekend.
Almost left everything to run. But we all know I'll be there to hit the trigger
Monday. And I LIKE MONEY in my acct.

Now I can play on this thread and study in peace. ;) AND The NAP was good
Too!

Mike

Missed the nap here...early to bed tonight....I mean this evening lol....

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Glad to hear your green going forward, that's where we all want to be.

A lot of these are starting a new 3 day cycle so I'll probably carry over the
weekend...it they hit right, I won't have to pay triple the freaking swap Wednesday!
:evil:

On 2nd thought, went ahead and booked a bunch of those...."W" forming on the lower
ends....

Took a few orders going the other way, into the close. Will hold for the gap on
Monday...

CJ

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

(./download/file.php?
id=17679&mode=view/3‐15‐2013 12‐57‐17 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47614#p47614)

xrismak wrote:
15‐03‐2013 01‐07‐07 I am Taking Pendings this to the Wire the Fox can do
Whatever.png

Captain Jack wrote:

Range being extended on EURGBP....scalped out of my earlier trades....hope
to get in lower again....

CJ

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El Comandante CJ,

I Set the Trap for the Fox right in Front of it's House and Waited Patiently .......
Guess what it took the Bait and I am Skinning the Fox Alive...... Thank you Very Much
for Showing us the WAY......

I just Love this System.

Happy Trading Y'all,

xrismak. ;)

Spring is coming and everything is looking green! Nice work! :mrgreen:

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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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47615#p47615)

xrismak wrote:

xrismak wrote:
15‐03‐2013 01‐07‐07 I am Taking Pendings this to the Wire the Fox can do
Whatever.png

Captain Jack wrote:

Range being extended on EURGBP....scalped out of my earlier
trades....hope to get in lower again....

CJ

El Comandante CJ,

I Set the Trap for the Fox right in Front of it's House and Waited Patiently
....... Guess what it took the Bait and I am Skinning the Fox Alive...... Thank
you Very Much for Showing us the WAY......

I just Love this System.

Happy Trading Y'all,

xrismak. ;)

The Fox is in Big Trouble... it's my Turn to recoup all my Money from way back over
the Years of Not knowing what to do and I am going to Have Loads of Fun doing that...

Happt Trading Y'all ,

xrismak. ;)

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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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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47672#p47672)

mrelectron wrote:
<snip>
Yesterdays move had 3 levels of rise....
see post by CJ at: http://www.stevehopwoodforex.com/phpBB3/viewtopic.php?
p=47294#p47294 (http://www.stevehopwoodforex.com/phpBB3/viewtopic.php?p=47294#p47294)
<snip>

Sorry to keep dragging you back in time, I just want to make sure I'm understanding
this stuff.

The attachment p0060‐47294.png is no longer available

Do the lines I have drawn on the piccy reflect the 3 levels of rise you are talking
about ?

This does....

CJ

(./download/file.php?
id=17696&mode=view/3‐16‐2013 10‐05‐24 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47675#p47675)

mrelectron wrote:

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<snip>
Yesterdays move had 3 levels of rise....
see post by CJ at: http://www.stevehopwoodforex.com/phpBB3/viewtopic.php?
p=47294#p47294 (http://www.stevehopwoodforex.com/phpBB3/viewtopic.php?p=47294#p47294)
<snip>

Sorry to keep dragging you back in time, I just want to make sure I'm understanding
this stuff.

The attachment p0060‐47294.png is no longer available

Do the lines I have drawn on the piccy reflect the 3 levels of rise you are talking
about ?

How about this on a higher time frame? Would these be possible outcomes at the top? A possible "M"
pattern, or just back into a range with choppy action?

That's a level 3 high....basically 3 days or rising prices..... we could have a reversal this coming
week...all possibilities that should be considered when you look at this pair...

We can watch this going forward....and trade it accordingly.

CJ

(./download/file.php?
id=17698&mode=view/3‐16‐2013 10‐12‐04 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47679#p47679)

Captain Jack wrote:

mrelectron wrote:
<snip>
Yesterdays move had 3 levels of rise....
see post by CJ at:
http://www.stevehopwoodforex.com/phpBB3/viewtopic.php?
p=47294#p47294 (http://www.stevehopwoodforex.com/phpBB3/viewtopic.php?
p=47294#p47294)
<snip>

http://www.stevehopwoodforex.com/phpBB3/search.php?st=0&sk=t&sd=d&sr=posts&author=&att_sr=att&author_id=629 94/208
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Sorry to keep dragging you back in time, I just want to make sure I'm
understanding this stuff.

The attachment p0060‐47294.png is no longer available

Do the lines I have drawn on the piccy reflect the 3 levels of rise you are
talking about ?

How about this on a higher time frame? Would these be possible outcomes at the top?
A possible "M" pattern, or just back into a range with choppy action?

That's a level 3 high....basically 3 days or rising prices..... we could have a reversal

this coming week...all possibilities that should be considered when you look at this
pair...

We can watch this going forward....and trade it accordingly.

CJ

How about this Lio? Looking familiar? Will they "dirty" it up a bit on the "LH" side like the did the
front side with the sideways movement??

Keep an open mind and look at what they are telling us.

CJ

(./download/file.php?
id=17699&mode=view/3‐16‐2013 10‐26‐30 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47683#p47683)

lhDT wrote:
Let me try to summarize a bit. This is a mix between CJ method & Steve Mauro. Used
on M15.

1. Grab the asian range. Generally between 15 to 50 pips. This is the accumulation
phase on low volumes.
2. Around London open, mark the asian hi/low range.

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3. Wait for the asian breakout, no matter if it is to the upside or downside, you don't
care :)
4. After 30 to 90min, mark the LOD/HOD (low of the day, high of the day).
5. Price will retrace a bit, now look for "M" or "W" patterns.
6. Enter short at the top, long at the bottom at the second retest. Look also for
patterns like pin's, rrt, hanging man, etc in the M & W zones.
7. If all is ok you should be in profit.
8. Breakout traders are trapped in their breakout thing. They are now hoping the
price will go at least at their entry price to exit at BE ... but price is now ranging,
they are stuck ...
9. One hour after, the trend will resume and the price will be begin to drift in your
direction forcing breakout trader to close their order, this will also accelerate the
move.

Be careful between London & NY close, there should be a pullback if the range was
big. This keeps a bit a the volume and money for the next day.
So, take your short position from the HOD and long position from the LOD after a M or
W pattern. Stoploss should be above the highs or lows (give enough room to avoid
getting trapped by broker spread widening)

If the price sky rocket to the upside or downside & you don't see a pullback nor a M or
W after the breakout, too bad for that one. Go hunting on another pair =)

Well done Lio. Your write up might make it easier for others to see this on the 15M time frame. I'll
add a couple things.

Ideal Asian session is 40‐50 pips. This is usually dependent on the volatility of the pair. Some may
range 25‐30...but look for around 40 pip range.

After the range is set, the next thing they do is expand the range. This is what trips the breakout
trades.

After this range expansion, price should move 25‐50 pips above or below the Asian range, this is
where the stop hunt occurs. The stop hunt takes out the breakout traders. This move to the stop
hunt may happen over 3 candles or 3 "pushes". This is where some confusion comes in. The 3 push
move to the stop hunt is different than the 3 pushes of the actual move itself.

Once the stop hunt is complete, look for the "W", "M" or straight away moves. These moves may
have 3 levels up or down.

Trades over...look for another.

You can have a 3 day cycle of either rising or falling price. After this 3 day cycle completes, you may
have a reversal into another 3 day cycle.

Many times, price will reverse in or near the NY session. This is the last session of the day and week.
When price is rising, it must reverse and drop for them to take their profit. When price is falling, it
must reverse and rise for them to take their profit.

These observations apply to the 15M time frame.

HOWEVER, these same patterns apply to higher time frames. Learn them and use them as a guide
for price direction as well as longer term trades.

You might not want to set in front of the computer and wait for these trades to hit on the 15M time
frame. That's fine. Look for them on the 1H, 4H and D1 time frames. They are there and you can
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take low maintenance, long term trades based on these patterns.

Take a look at the chart Lio used as an example....it's a 15M chart. Compare it to the one I add here.

A light should have just come on for you!

CJ

(./download/file.php?
id=17704&mode=view/3‐16‐2013 10‐53‐28 AM.png)

(./download/file.php?
id=17703&mode=view/3‐16‐2013 9‐33‐09 AM.png)

(./download/file.php?
id=17701&mode=view/3‐16‐2013 9‐54‐33 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47848#p47848)

Pueo wrote:
It's so great to finally get my head straight on so many parts of trading all at once!!
I've been learning from Steve Mauro as well and the lightbulbs are really coming on.
:D Finally, after 5 years of struggling, now its time to have some fun. I like his song,
"the world's your candy shop, don't trade until they hit the stops".

I'm really happy with how I've got my template & I thought I'd share it with anyone
who's interested. The time zones are all arranged for Cowboy IBFX. For simplicity I
recommend just get a Cowboy IBFX demo and then you don't have to change anything.
Thanks to Mike for the Auto Sessions!

You'll notice the dark green consolidation boxes, this is set for "euro sized" pairs, you
would need to change it from 28 to around 50‐60 for big movers like g/j. I find those
boxes helpful to identify the asian consolidation zone. Sometimes the time box does
the job, other times the cz box is great. Credits to fxhard at ff for his cz indicator.

capture10.jpg

Looking good Pueo and thanks for sharing your setup with us.

I've got a veritable library of hardback, softback, ebooks, dvd's and training materials here, that I
have accumulated over the years. My iPad is full of reading material...too bad those didn't come out
earlier, would have saved some space! Some of the better stuff is by Martin Cole, Steve Nisson, and
Tom Bulkowski. David Elliot, of WallStreet Teachers, who passed recently was of great help when I
traded equities.

Steve Mauro's stuff was always out of my price range while I was 'educating" myself. I've always
wondered if it was worth it. Have you attended his seminars Pueo? I believe he also has a monthly
service you sign up for. Perhaps one day, I'll get a chance to attend one of his presentations. I'd be
interested in hearing what his thoughts are as I have seen some of his promotional material. Looks
interesting but I believe he stays to the 15M time frame only.

I'm glad the "lights" are starting to shine for you, maybe we can get a few more bulbs turned on here
at Steve's place.

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47854#p47854)

monkeh wrote:
Jack,

if you dont mind and when ever you'd have a spare minute, do you think you could
post up unsuccessful trades you've taken? with some commentaries behind it?
i think it would help a lot to all beginners to know that the thinking and set up was
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valid, but it just didnt play out, instead of just pulling hairs off and giving up because
of it :]]
thanking you!

When I get some time, I'll dig some up....might help....

Actually, we were following a larger "M" pattern on the EURNZD pair the other day. I took a LONG
trade up to the pin area and closed it for a profit. I set a SELL limit order, priced moved to within a
pip or triggering the SELL and backed away. I entered a SELL order as close to my limit order as
possible.

Price dropped away and trade was entering profit when price reversed, stopped my SHORT out and
moved higher. Would consider this trade over and "failed" ‐ took a small loss....

BUT, when price moved 25‐35 pips higher and pinned, I entered a new position....which proved valid
and added orders as price dropped away....

This is one way they mix up a pattern to get people out of their trades...it turned out well, but it
did get me out of my original position...

CJ

(./download/file.php?
id=17776&mode=view/3‐17‐2013 2‐47‐10 PM.png)

(./download/file.php?
id=17774&mode=view/3‐17‐2013 2‐11‐04 PM.png)

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(./download/file.php?
id=17773&mode=view/3‐17‐2013 2‐16‐21 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47876#p47876)
Looks like they are taking advantage of the "news" to move some currencies already....moves in
EURUSD, USDCHF, EURJPY, EURGBP etc to name a few....could be the break lower that drops
EURJPY down towards 112‐113.....over the coming days....or just "gap action"....

CJ

(./download/file.php?
id=17782&mode=view/3‐17‐2013 4‐15‐53 PM.png)

(./download/file.php?
id=17781&mode=view/3‐17‐2013 4‐12‐24 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff

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Re: The Captains Chest - Naked Trading & Other Stuff
by pips400 » Sun Mar 17, 2013 10:56 am

I've been quiet for a while, getting my head around all of this, and then last
night I found myself on the other side of the screen, and wow, makes me wonder
why I never saw it before, it all seems so clear and obvious now, I don't think I'll
ever look at a price chart the same way ever again. I've come too far now,
there's no turning back.

When you're doing a large jigsaw you get a piece and it looks like it's supposed to
fit in a particular place, and so you make the fit, only to find out later that
actually it fits somewhere else. And then, sometimes when you get one correct
piece in place, it leads to many others fitting into place because you just needed
that key piece. 

In a former career, I was an accountant with my own business, and if there's a

core accounting principle it's that for every debit there's a credit and vice versa
otherwise the books don't balance. Well the same principle applies here in
Forex. For every transaction there's always another side, so if someone's buying,
someone's selling, and if someone's selling then someone's buying. Nothing new
here, and we've read it all before, but then it clicked into place. If the fox want
to sell, then he need buyers, and if the fox wants to buy he need sellers. So how
does he do this - he manipulates the market to create "bias" or pressure for retail
traders to take the opposite direction direction, it's as simple as that. So this is
in accummulation phase, and then the stop hunt. There are two things that need
to happen here. First if fox has been going long, when he's accummulated
enough "unrealised" profit, he needs to bank that profit, by offloading his
positions and sell what he has. So on one side of the equation, fox is selling, that
means he's going to create buying pressure/bias in the market for retail traders
to buy. During this phase you'll get the false breaks above, pinbars etc anything
to entice buyers into the market, so that the fox can close out his position, so
fox just need to trap enough traders going long. Secondly, when foxy wants to
play again, he'll manipulated the markets once more, go through the stop hunt to
entice traders into the opposite of where he is going to take price. 
That was a huge piece of the jigsaw that just fell into place for me last night.
And then another piece fitted immediately after - market cycles go in threes (a
generalisation, but enough of an edge here). So we're looking for the
accummulation/manipulation/stop hunt phase first. Then there will typically be
three moves either up or down with pullbacks/rallies in between. On a larger
time frame, this will typically happen over a week, with three or possibly four
days movement, and a day or two days back into the range, as fox offloads his
position and setsup for the next run. To validate a move, there should be enough
pips approximating the ADR, otherwise it may not be a valid move. This gives us
the heads up on which way the fox is going to go next. After the three moves,
we're expecting accummulation again so beware at this stage and wait. All of
this happens on an intra day cycle as well, which is where we'll drop down to the
15min (or even 5min charts). Where as a generalisation we're expecting 3 moves.
Typically the asian session will be accummulation, setting the high and low so
far, but then fox is going to want to play, and so will begin to break out during
London session, which is where we're looking for his tracks, the Ms and Ws,
double tops/bottoms etc. But remember fox purpose here is to create
selling/buying bias the opposite way he wants to go because the balance
equation must hold, even the fox can't change basic mathematics. So once we
know which way fox is going to go, we can tag along and follow his lead. 

On the intra day, we can also look at the higher/weekly cycle to give us a clue as
to which way this is going to go. For instance, if we've only had the first leg on
the daily run, then after the asian session we're expecting the second leg in the
same direction as the first. So if that was long, I'd expect to see stop hunting
going short around the franky/london open, before heading long again. 

And the final piece for me was reversals. If during any session, we've already had
the three phases for the entire run, and ADR is reached (approximate), then I
could be looking for a reverse. For instance, if during London, all three phases
complete say going long, I'm looking for a definate reversal around the NY open,
although it can happen later (or sooner).
So CJ/Mike how does that sound? I new to this, so hope I'm not too far off the
scent here. It feels right to me, and I think I'm ready to strip my charts naked.
What do you think?

Pips400

EDIT: I forgot to mention. During the stop hunt and say there's a large pinbar
dropping south, this will do two things. One - it will trigger sellers, playing
breakout strategies, ema strategies etc, and two (which is the missing bit I
needed), when a long position is stopped out, at that point he is forced to sell to
close out his buy. So either way whether it's new shorts or stopped out longs, the
overall effect for the fox is the same - more sellers so he can go long. - He's a
crafty devil   Put it another way, when your new long gets stopped out you've
been robbed by the fox at that price. Youre position is sold to close you out, and
he's buying, exactly the way he wants, on his terms, at his price. No wonder CJ
doesn't use a SL, why give the fox anything unless you have to 
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47881#p47881)
Price is starting to back fill a bit but there's going to be a lot of busted accounts come market
open....the fox has struck hard today!

CJ

(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=47897#p47897)

Angat wrote:
Do we expect GBPUSD to fall around 30 pips or so before it rises as part of the
corrective move within a corrective move?

We were looking for the GBPUSD to rise back into consolidation....it looks like it's there....

CJ

(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=48042#p48042)
Going to give this one a go...not a good night for patterns.... maybe NY will be better....

CJ
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(./download/file.php?
id=17839&mode=view/3‐18‐2013 8‐19‐10 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=48048#p48048)
Giving EURJPY a SHORT look here off the "M" 2nd leg....should have probably held off for a higher
pin.....

CJ

(./download/file.php?
id=17841&mode=view/3‐18‐2013 8‐34‐43 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=48181#p48181)

monkeh wrote:

lhDT wrote:
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..

Monkeh, the 3 leg moves usually start with an "M" at the top and end with a "W" at the bottom....
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You will see them transitions from one to another, BUT the ones we need to look for are on level 3,
up or down....these provide the better moves.

A lot of trades taken on Monday here were not very good patterns. I took a couple based on a few
pins that were piss poor.

The best trades were off the pins low, on the gap drops. A lot of the pairs have recovered most if
not all the loss during the gap. Several gaps have been filled already as well....

When they run price like this, and use "news" as an excuse, price tends to return to the prevailing
trend as it was before the "news" event.

I've attached one of Kruspe's charts as it illustrates the "M" and "W"...Kruspe is dead on. We need to
look for a "W" to form, below the Asian range in this case, to trigger short stops and pick up orders
before it goes higher. If we were looking for a level 3 rise, we would look for a well defined "M" at
the top, which trips the BUY stops.... these patterns will have some long pins as this is how they
spread the price out, triggers stops, but not triggering TP levels...

Nice work on the charts Kruspe, it shows good level recognition...just look for the level 3 formations
and trade them...you will make money.

CJ

(./download/file.php?
id=17864&mode=view/3‐18‐2013 8‐54‐41 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=48183#p48183)

lhDT wrote:
Would love to get your insights on that AU long trade. I got a M & a W :‐)

Lio, take a look at the higher time frames....looks good for a scalp...AUDUSD has been on a steady
rise, but H4 is showing some clues.... there's a lot of pins up top there....plus there is previous
structure to the left... I'd look for some consolidation here, and look for a bigger "M" to possibly
form.

CJ

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(./download/file.php?
id=17865&mode=view/3‐18‐2013 9‐14‐35 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=48184#p48184)

Mescalitofx wrote:
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

You need to look for price to go higher, Gerry, and form the "M"....then look for the drop.....

CJ

(./download/file.php?
id=17866&mode=view/3‐18‐2013 9‐22‐21 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=48194#p48194)
Monkeh, here's one of those "M"'s that transition into a "W"....higher time frame....

CJ
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(./download/file.php?
id=17868&mode=view/3‐19‐2013 12‐31‐13 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=48195#p48195)
Looks like Level 3 on GBPCAD....look for the topping patterns.....

CJ

(./download/file.php?
id=17870&mode=view/3‐19‐2013 12‐46‐10 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=48197#p48197)
EURAUD looks to be trapping volume low....

CJ

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(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=48198#p48198)

f451 wrote:
It helps me to imagine a few scenarios for what might happen at each significant area
‐ there are always a few possibilities and one should at least have the long or short
reaction from the area in mind ‐ the point is to recognise the patterns (M, W, stop
hunt at hi/lo/adr/around a significant level such as fib, trendline, pivot, widening of
the asian range) as they form and trade them... you can go to higher timeframes and
try to figure out the cycle to help narrow down the possible scenarios. I find it helps
to have thought through a few of them so you can adapt to what happens...

The attachment possibilities.png is no longer available

The attachment possibilities2.png is no longer available

The attachment possibilities3.png is no longer available

Not a bad idea at all....when you are staring at the lower level time frames, you will begin to
"imagine" patterns instead of seeing patterns. That's why it's better not to trade the Asian where
moves tend to be smaller. You want the volatility in range that you get near the top and bottoms,
where they are spreading price, creating long pins and tripping stops to load their bag for the return
trip.

CJ

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(./download/file.php?
id=17874&mode=view/3‐19‐2013 1‐02‐18 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=48201#p48201)
Looks like a Level 3 may be forming on NZDUSD....

Note how they added a stop hunt in the "W" at the bottom to "dirty" the pattern a bit... I can would
almost bet that some mistook the "W" as an "M" with the added stop hunt to bugger it up... :twisted:

CJ

(./download/file.php?
id=17876&mode=view/3‐19‐2013 1‐39‐33 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=48209#p48209)
Going for a scalp on this one....10 pip stop... "straight away" trades will sometimes form at this
level...

CJ

(./download/file.php?
id=17887&mode=view/3‐19‐2013 3‐34‐33 AM.png)

(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=48236#p48236)
Need some sleep....back in a few hours....

CJ

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(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=48333#p48333)

Aus67 wrote:
guys CADJPY weekly
Thoughts on whether this a big M forming? after what to me looks like a 3 push high,
with some exhaustion.

It seems clearer on the daily and 4H, with price being sold off at this level in the
past.
Thoughts anyone?
The attachment cadjpyw.JPG is no longer available

It's always a good idea to look at the other time frames....higher give the big picture, lower the
details...looking good here for lower prices ahead....

CJ

(./download/file.php?
id=17922&mode=view/3‐19‐2013 1‐47‐37 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=48349#p48349)

xrismak wrote:
The attachment 19‐03‐2013 18‐39‐13 Love this 1.png is no longer available

Captain Jack wrote:

Angat wrote:
Hey CJ any good signals that you can share pls. Pls keep them
coming I need to get used to finding better quality setups. I think
thats one of my problems.

W on AUDJPY to pull back into range? What you think?

It's getting close to the time of day when the prices will be pulling back into
the range....50pip or 50% re‐tracements of the moves are not uncommon....

It's best for you to find the signals otherwise this just becomes another "signal
service" thread....and that won't happen... ;)

CJ

El Capitaine,

Yahooozeee..... Love trading like this every day.

Happy Trading Y'all,

xrismak ;)

Well done! :mrgreen:

cmicsfee.gif (188.66 KiB) Viewed 287 times

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=48437#p48437)

Mescalitofx wrote:

F0rMaT wrote:
possible 'W' forming here on the cad/jpy ?

higher probability lower, that is the 1st pushdown, at least 2‐3 pushes down normally

I agree Gerry.... looks like an "M" after a 3 level rise. Price has returned to fill the gap, as was
discussed earlier in the thread, and has basically completed a stop hunt before it's next move...

Price finished the day in consolidation so that should make it Level 3 complete with a Peak High.
Level 3's tend to lead into straight away price moves after consolidation....watch for this...

I don't understand how anybody can read the previous 100+ pages and think that this thread is "only"
about "W" and "M" patterns. :roll:

CJ

(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=48446#p48446)

lhDT wrote:
Would love to get your insights on that AU long trade. I got a M & a W :‐)

Compare this pattern with the current pattern printed by CADJPY Lio.....look familiar?

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=48448#p48448)
GBPUSD has been held the past few days.....movement is seen in some of the crosses.... there was a
question some pages back concerning the drop in the EURO and the lack of movement in the
Pound...here's the "holding pattern"....chopping for days now....

CJ

(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=48461#p48461)
I find it interesting that silver is being "held" while gold has risen lately....not sure what to make of it
but I'm going to take a "speculative" position in silver here....

CJ

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(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=48476#p48476)

Mescalitofx wrote:
I got stopped out at BE + 2 for the small up move on GBPJPY.

Question4
Any way to stay longer in the trade. i want to increase my R:R ratio.(counting 3 drops
when u know the 3rises?) i chicken out too soon.

This goes a little deeper on holding positions Gerry....Using GBPJPY as an example, it has an ADR of
176.5. Lets say you determine that GBPJPY has formed a peak high and is beginning a new 3 day
cycle, so you take a short position and set your stop loss....

Using ADR of 176.5 x 3, for the 3 day cycle, you have the possibility of this pair moving 529.5 pips on
a 3 day drop....There are many options on how to do it, but lets say you have added orders and
price is dropping. At the 1st retrace level, you can close your positions and take new ones at the
end of the retrace or you can wait for the retrace to end and add orders higher, after the retrace.
Bring your SL down to the peak of the retrace. If price drops, you can add orders to the next
retrace, close or hold. Move stops down again and begin adding more orders....at some point , you
will get a nice reversal signal where you close them all out.

I tend to close my orders at the retrace point, book the profit and add new orders when the retrace
is over. Helps to keep my equity rising and margin levels a bit safer.

This is one way of building those positions into a big payday.

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Each pair will have it's own ADR to use in computations. Some small, other larger...

This is an example over several days on the higher time frame, but you can use it on the 15M time
frame using daily ADR on the same manner. This is based on entry at the LOD or HOD, where you
have the full ADR to work with.

CJ

(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=48478#p48478)

Aus67 wrote:

Captain Jack wrote:

AUDCAD on the Level 3 watch list...looking for a new peak high....

CJ

Dumbe question on the way!!

What time frame are you referring to? Daily??...I left my glasses home and I cant put
my fingers on the 3 pushes!!

:oops:

Levels refer to the weekly cycle and the 3 day cycle. Level 3 is where new peak highs or peak lows
form and reversals occur. You can view them on whichever time frame you can see them best. The
count starts from the last peak high or peak low....

CJ

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(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=48513#p48513)

mjws00 wrote:

Captain Jack wrote:

This is one way of building those positions into a big payday.

Each pair will have it's own ADR to use in computations. Some small, other
larger...

This is an example over several days on the higher time frame, but you can
use it on the 15M time frame using daily ADR on the same manner. This is
based on entry at the LOD or HOD, where you have the full ADR to work with.

CJ

Thanks for this. I can't believe I didn't think to apply this to other 3 wave cycles. On
whatever timeframe. Getting out at/near ADR is like breathing to me... this little
gem is an FU moment. Doh. :shock: :roll: :mrgreen:

Sometimes the simplest things smack you right upside the head. Or maybe I just woke
up and my sense of humor is especially twisted. Whatever the case, more free beer
on me.

So what is the deal on EUR pairs EJ EG, both either have perfect straightaways goin or
they reverse pretty soon. Foxy got it goin on tonight.

No need to find 20 trades on 29 pair, find the one pair with a great signal and take 20 trades off of
it...the idea is to trade to make money, not to just make trades. :mrgreen:

Most gaps have filled....and the hold has been lifted off the Pound....a little news does wonders to
get the fox out of his hole and running.... :mrgreen:

Each time you have one of those "face palm" moments, your bank account is going to thank you! ;)

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=48517#p48517)

Lifesys wrote:
John
This thread is a great addition to SH forum & stretches well beyond what I have been
endeavouring to achieve with PA.
Watching multiple TimeFrames has been mentioned a few times ‐ an excellent way to
do this, without huge or multiple monitors is with StratmanMinicharts. I can see 4‐5
additional charts on one main chart or up to 20 small charts on 1. You can set other
TF's or even other pairs together.
2013‐03‐20_200126.png

NOTE: Need to install Stratman font to view correctly (included with manual).
May be useful to others. Thanks for your great insight & support.
Paul

Hi Paul,

I'm glad people are finding the information of some use and I'm glad to be able to contribute here.
I've been a lurker for a long time and never really had the time to do it before.

I'll post the indi on the 1st page with the others. I've used it in the past and it's a great add for those
wishing to be able to multiple time frames on one chart.

Thanks and feel free to add anything to the conversation that you think might help us along with out
fox hunts. ;)

John

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=48520#p48520)

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I hope you guys and gals are getting some of this.... :mrgreen:

CJ

(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=48536#p48536)
If you want to trade these swings, aim for the pins on the tops and bottoms...set SL 5‐10 pips above
or below the high or low pin and keep swinging....

CJ

(./download/file.php?
id=17982&mode=view/3‐20‐2013 6‐29‐27 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=48537#p48537)

mjws00 wrote:
Mmm. Mmm good. I took the slower EG train. Done with GU yet or just gonna ride?

I had little fox babies for breakfast today..... :twisted:

50pips....50pips.....50pips.....50pips..... :mrgreen:

CJ

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(./download/file.php?id=17984&mode=view/3‐20‐2013 5‐42‐
49 AM.png)
Composite....chopped out all the cancelled pendings....

(./download/file.php?
id=17983&mode=view/3‐20‐2013 5‐59‐21 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=48538#p48538)
Might not get the full 50 on these sets'....will be watching for the bottom turn....

CJ

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(./download/file.php?
id=17985&mode=view/3‐20‐2013 6‐43‐05 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=48574#p48574)
Caught a lot of the "meat" for this move...a few pending orders still set....heading for a nap....this is
going to move back and forth for a some time yet....

I lied...still baggin' em! :mrgreen: :mrgreen:

CJ

(./download/file.php?
id=18001&mode=view/3‐20‐2013 9‐01‐42 AM.png)

(./download/file.php?
id=17999&mode=view/3‐20‐2013 8‐57‐23 AM.png)

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(./download/file.php?
id=17998&mode=view/3‐20‐2013 8‐40‐32 AM.png)
another composit with canceled orders cut

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=48734#p48734)

Lifesys wrote:
This thread is not about indicator use but some (we can call them charts guides) are
useful ;‐)
ie ADR is helpful so some time ago modified MagnifiedMarketPrice to include ‐
CandleEndTime, DayRange, MonthRange, ADR, AWR, Swap, NetCurrentPositions in
pips, %P/L & lots.
Also if ShowTargets = true; then preset %ADR SL & TP target can be displayed as well
as NetAv. pip distance of any active SL or TP. [Corner can be changed as usual.]
I find this useful to decide possible target range etc.
A.png
B.png

Looks like a good "helper" than can eliminate the need for separate calculators and the need to take
your eyes off the charts to look for info elsewhere...thanks!

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=48745#p48745)
Any questions on price manipulation during "news" events? Who caught these? Anybody? You all know
I did as I posted several pages of trades on GBP pairs...I can post several more pages showing that
many more trades, but you get the point.

The fox trades 10's of thousands of contracts at every pip in moves like this...when he's done and
books his profits...he leaves price right where he started.... I stacked my orders right along with his,
all day today. It was a good day! :mrgreen:

AUD had a nice spike...anybody short it? I did! 8‐)

When you understand what the fox is doing during these spikes, they quit being "scary" things and
turn into opportunities for large profits....wait for the pins and travel with the fox...

CJ

(./download/file.php?
id=18043&mode=view/3‐20‐2013 10‐24‐12 PM.png)

(./download/file.php?
id=18042&mode=view/3‐20‐2013 10‐33‐56 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=48772#p48772)
AUDNZD for consideration....

CJ

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(./download/file.php?
id=18054&mode=view/3‐21‐2013 1‐50‐49 AM.png)

(./download/file.php?
id=18053&mode=view/3‐21‐2013 1‐52‐08 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=48775#p48775)
USDCAD....

CJ

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(./download/file.php?
id=18057&mode=view/3‐21‐2013 1‐59‐41 AM.png)

(./download/file.php?
id=18056&mode=view/3‐21‐2013 1‐56‐33 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=48777#p48777)
AUDCAD...talked about this one heading towards the Level 3 high....nice "M" with pins up high....

CJ

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(./download/file.php?
id=18059&mode=view/3‐21‐2013 2‐01‐15 AM.png)

(./download/file.php?
id=18058&mode=view/3‐21‐2013 2‐02‐41 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=48778#p48778)
NZDJPY...."W" to an "M"...pins up high....

CJ

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(./download/file.php?
id=18060&mode=view/3‐21‐2013 2‐07‐22 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=48782#p48782)
EURGBP....new peak low....

CJ

(./download/file.php?
id=18061&mode=view/3‐21‐2013 2‐13‐38 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=48817#p48817)
Looks like it's gonna be another one of those days....yesterday was a Pound kinda of day...today, it's
starting out like a EUR day...

GBP "news" due as well in 30min....

CJ

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(./download/file.php?
id=18070&mode=view/3‐21‐2013 5‐01‐00 AM.png)

(./download/file.php?
id=18068&mode=view/3‐21‐2013 4‐44‐00 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=48821#p48821)
Chalk up the "RED" to operator error....I really need to rename my scripts as the BUY and SELL sit
next to each other in the window....costly mistakes....still making them.... :cry:

CJ

(./download/file.php?
id=18074&mode=view/3‐21‐2013 5‐19‐25 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=48827#p48827)
Keep an eye on EURCHF and EURCAD...if price returns to the lower level, forms the 2nd leg of the
"W", the trade should run for a couple days...I'll be LONG both pair....

CJ

(./download/file.php?
id=18075&mode=view/3‐21‐2013 5‐38‐01 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=48843#p48843)

Captain Jack wrote:

Keep an eye on EURCHF and EURCAD...if price returns to the lower level, forms the
2nd leg of the "W", the trade should run for a couple days...I'll be LONG both pair....

CJ

Ordering those shoes here...LONG EURUSD, EURCHF, EURCAD and "W"'s appear to be printing on
several other EUR pair....

Looking for more than 50 pips on these trades....

CJ

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(./download/file.php?
id=18083&mode=view/3‐21‐2013 6‐46‐13 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=48852#p48852)

casapips wrote:

Captain Jack wrote:

casapips wrote:

Captain Jack wrote:

EURGBP....new peak low....

CJ

Mon Capitaine,

It looks like level 3 is not reached yet?

Many thanks CJ..

I believe the stop hunt in this pair, due to the GBP move yesterday, clouds or
dirties the pattern in this pair. It is responsible to the correction yesterday.
The peak low may have just been reached...

CJ

I think I posted a chart a few pages back that had a stop hunt hidden in the "W"
pattern...

No large news stop hunts today....out for a few hours....

EURCHF and EURUSD!

CJ

I was thinking about stop hunt too as the root cause..

Merci

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(./download/file.php?
id=18088&mode=view/3‐21‐2013 7‐15‐52 AM.png)

(./download/file.php?
id=18087&mode=view/3‐21‐2013 7‐16‐26 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=49077#p49077)

johnsund wrote:
Hi CJ ‐ here is a snap of the H4 NZDJPY. Have 5 pins to the high, which would indicate
a down move is coming. But, only 3 levels of rise. So we would anticipate another
level of rise, correct? Also, if the current 5 candles were after a 3rd leg is formed,
where would you enter? At the break of the lowest wick in the group or some other
point.

Took some time off today....yes, the pins indicate downward pressure....here's an update...

There was a stop hunt that took place and a long downward pin formed. This indicates another up
leg, possibly to test the previous high....it the 3 level completes, a large "M" is forming....this could
be the sign for a nice break lower off the peak high.....we need to watch for the old highs to hold or
break. If the old high is held, then price should drop. If a new high is established, price may continue
upwards...

CJ
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(./download/file.php?
id=18170&mode=view/3‐21‐2013 9‐25‐51 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=49092#p49092)
Taking a position on USDJPY off the low pin.... it may test it later....

CJ

(./download/file.php?
id=18172&mode=view/3‐21‐2013 11‐51‐45 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=49094#p49094)
Keep an eye on NZDUSD....could be forming a nice "M" at the high as well a RRT formation on D1...

NZDCHF following the same pattern....

CJ

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(./download/file.php?
id=18176&mode=view/3‐21‐2013 11‐58‐47 PM.png)

(./download/file.php?
id=18175&mode=view/3‐21‐2013 11‐58‐11 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=49096#p49096)
Nice "M" up high, drop into consolidation...watch for a straight away move down or a stop hunt then
drop....might get a 3 push drop then pull back of 50% into consolidation at NY close Friday....

CJ

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(./download/file.php?
id=18179&mode=view/3‐22‐2013 12‐10‐26 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=49098#p49098)
GBPAUD looks like it has completed 3 levels of drop on the D1...H4 setting up nice for a run higher...

CJ

(./download/file.php?
id=18182&mode=view/3‐22‐2013 12‐19‐02 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=49106#p49106)

Lara wrote:
Hi CJ,

Managed to read the GBP USD moves correctly on Wednesday and made some good
trades following Foxy up and down. I was looking for the stop hunts right after the
Asian session and they played out as you have often shown on this thread. What I am
still battling with, however, is the "straight away" moves after the Asian session. If
you look at GBP USD yesterday, there seemed to be no stop‐hunt for shorts and there
was a 98 pip climb which lasted into the middle of London.

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Of course I could have waited and traded the shorts from the middle of London, but
my question ‐ are there any clues that Foxy gives for the "straight away" moves?

Thanks again for all your insight.

Lara

Be sure to look at the higher time frames for the level counts....it was in consolidation after a level
1 rise, off the peak low. This is where straight away trades will occur most often...

Price rose from the low, fell into consolidation and did have a stop hunt....on the 1H it's clearly
visible...

On the 15M, they gave subtle clues when during they brought price off the low of the range and held
it high...it did not go back to the low once it shifted high. Price left the box high, and volume picked
up at the same time....

Don't get locked into one time frame. ;)

CJ

(./download/file.php?
id=18189&mode=view/3‐22‐2013 1‐59‐20 AM.png)

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(./download/file.php?
id=18188&mode=view/3‐22‐2013 2‐02‐18 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=49126#p49126)
Nice pattern....EURCAD...... off the low...

CJ

(./download/file.php?
id=18201&mode=view/3‐22‐2013 3‐11‐55 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=49134#p49134)

swisscheese wrote:

Captain Jack wrote:

swisscheese wrote:

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swisscheese wrote:

Captain Jack wrote:

Captain Jack wrote:

Taking a position on USDJPY off the low
pin.... it may test it later....

CJ

USDJPY testing yesterdays low.....

CJ

I expect a move lower on the Yen‐Pairs

Nice Reversals (15 TF) are forming on the Yen‐Pairs.

50 pips would make me happy! :)

CJ

The Jen‐Pairs look heavy...

I take the short way.
Edi

You can take it short after I get my 50 back to the 50... :D

Good luck to us!

CJ

(./download/file.php?
id=18211&mode=view/3‐22‐2013 3‐31‐21 AM.png)

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(./download/file.php?
id=18208&mode=view/3‐22‐2013 3‐25‐00 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=49159#p49159)

swisscheese wrote:
YEN‐Pairs
On the 60TF the Candles are forming Pinbar to the upper side.

I'm seeing them to the bottom of the candles Edi....??? :?:

The D1 could be forming RRT's :?:

CJ

(./download/file.php?
id=18226&mode=view/3‐22‐2013 4‐04‐46 AM.png)

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(./download/file.php?
id=18225&mode=view/3‐22‐2013 3‐59‐39 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=49173#p49173)

mobthehop wrote:
CJ,

first off ‐ thanks for your continued posting of charts ‐ very helpful....

You can take it short after I get my 50 back to the 50... :D

Good luck to us!

Let's say the first 5 pending orders have been converted to buys, then the UJ
reverses... Sorry I do not mean to pour oil on the flames, just saw the UJ drop!!!

1. Do you set your open orders to BE when the next pending is converted?
2. Do you close all on reversal, if yes, when? or
3. Do you let them go into DD till your initial SL (first order minus 10‐15 pips?) is
hit...

Would you pls consider to attach the following indicator to your "training charts":
‐ it places an arrow for every order entry
‐ it shows where all orders were closed
‐ shows pips profit / loss per order (might not work correctly on all Metals, etc as I
have not added the proper PipFactor conversion yet)
‐ it shows breakeven line (if some orders in loss, others in profit)
‐ after close of orders it prints total pip profit / loss at bottom of screen

This was coded by blubb over at kreslik a long time ago....

Cheers & thanks for taking the time to answer my questions..

Mop

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I don't think the indicator is going to work too well with the number of trades that I place....and I
really don't want to look at all of that.... :lol:

CJ

(./download/file.php?
id=18230&mode=view/3‐22‐2013 4‐44‐59 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=49203#p49203)
Anybody following this one....GBPNZD.... watch for a stop hunt then a drop....:D

CJ

(./download/file.php?
id=18242&mode=view/3‐22‐2013 12‐10‐26 AM.png)

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(./download/file.php?
id=18241&mode=view/3‐22‐2013 5‐27‐47 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=49208#p49208)

eltax100 wrote:
Hi CJ and all

Does anyone have a script to close all orders and pendings on 1 chart ???

Amazing teaching thanks

Try these.....

CJ
Scripts.rar (./download/file.php?id=18244)
(29.71 KiB) Downloaded 153 times

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=49232#p49232)
Stops hit low then high....looking to take the return trip here....

CJ

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(./download/file.php?
id=18252&mode=view/3‐22‐2013 6‐47‐37 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=49252#p49252)
So far, so good....EUR pairs are coming home...still holding those orders from yesterday....

You don't have to or need to trade this way....I've said it before that you the idea is to make money.
You can make the same amount of money by trading a smaller number of currency pairs, but trading
a larger lot size. Too many people get hung up on pips. I can earn as much on 10 pips as I can 10000
pips.

It is far easier to trade a couple pair, get familiar with them and trade larger lot sizes. Less to worry
about, less to tend to and take care of.

I do this to make a point and don't always trade this way. As a matter of fact, I very seldom trade
this way. ;)

The patterns are the same. It doesn't matter what pair, or what time frame. The patterns are what
is important. Once you learn those, all the hard work is done.

Find one pair at the right level, right cycle and right pattern and hammer the hell out of it.

I won't be doing this next week. Gonna slow it down and size it up. 8‐)

CJ

(./download/file.php?
id=18268&mode=view/3‐22‐2013 7‐37‐30 AM.png)
Closed out a few manually

(./download/file.php?
id=18266&mode=view/3‐22‐2013 7‐32‐09 AM.png)

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(./download/file.php?
id=18263&mode=view/3‐22‐2013 7‐16‐13 AM.png)

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id=18262&mode=view/3‐22‐2013 7‐15‐54 AM.png)

(./download/file.php?
id=18261&mode=view/3‐22‐2013 7‐15‐43 AM.png)

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(./download/file.php?
id=18260&mode=view/3‐22‐2013 7‐15‐09 AM.png)

(./download/file.php?
id=18259&mode=view/3‐22‐2013 7‐14‐35 AM.png)

(./download/file.php?
id=18258&mode=view/3‐22‐2013 7‐14‐07 AM.png)

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(./download/file.php?
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(./download/file.php?
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(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=49262#p49262)
I hope Snowman doesn't mind, I stole a chart he posted in Bob's thread:

Perfect example of the fox at work and the reaction of the retail trader. Multiply this 10's of
thousands of times and you start to understand....stuck in the pins and going the wrong
way.....notice the entry on the 3rd push lower out of the range...convinced this trader to go
short....

The lights should be getting brighter.... :idea:

CJ

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(./download/file.php?
id=18270&mode=view/3‐22‐2013 7‐52‐32 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=49271#p49271)

stevelacoste wrote:
Hi Captain can you tell me your reasons for going long on EUR NZD

Thanks Steve

It has everything we have been talking about in the thread... 3 level drop to a new peak low..."W"
formation at the low...pins to the low...RRT formations....correct pattern formation on the 15M,
drop out of the range, form a "W", pin to the low that doesn't take out the old low....all the signs are
there....we just have to read them. Look at the chart I posted of EURCAD with the "nice
pattern"...it's the same....

CJ

(./download/file.php?
id=18278&mode=view/3‐22‐2013 8‐06‐31 AM.png)

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(./download/file.php?
id=18277&mode=view/3‐22‐2013 8‐10‐07 AM.png)

3‐22‐2013 8‐08‐03 AM.png (4.29 KiB) Viewed 152 times

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=49305#p49305)

swisscheese wrote:
JEN Pairs again heavy

You did close those UJ shorts didn't you ? ;)

CJ

(./download/file.php?
id=18297&mode=view/3‐22‐2013 10‐08‐57 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=49306#p49306)
The wolf eats well today! :twisted:

CJ

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(./download/file.php?
id=18301&mode=view/3‐22‐2013 10‐15‐43 AM.png)
Cleaned the board

(./download/file.php?
id=18298&mode=view/3‐22‐2013 10‐13‐11 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=49313#p49313)
That's it for me....time for a nap. Closed out everything but a few trades in the AUD pairs that
should payoff into the pullback....

It's been a good day and a great week! Hope everybody has a great weekend! :mrgreen:

CJ

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(./download/file.php?
id=18307&mode=view/3‐22‐2013 10‐22‐43 AM.png)

(./download/file.php?
id=18306&mode=view/3‐22‐2013 10‐23‐11 AM.png)

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(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=49402#p49402)

Lara wrote:
Its been a GREAT week for me. Just waiting to ride with foxy back down into NY
consolidation on the GU and I'm done.

THANK YOU again CJ for leading us all out of the fog :D

Have a great weekend ‐ you deserve to get that moonshine out of the freezer now
:lol:

Lara

That's good to hear Lara! Always nice to see people making a profit in this business. What we take is
but a small drop in the massive forex market. Taking a few hundred or thousands of dollars a day,
pales in comparison to the trillions that change hands and the profit they take from those
transactions.

My pullback trades paid off well as the fox crawled right into my bed as I slept. I've got some AU
trades that didn't close out so I'll have to see how they do come Monday. Gap should go in my favor
but spread will determine if they close on their own when the market opens.

Now, it's time to 'shine! 8‐)

CJ

(./download/file.php?
id=18329&mode=view/3‐22‐2013 5‐25‐01 PM.png)

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Re: PFGBEST accounts ‐ LIQUIDATION ONLY ‐ NFA Problems!

(./viewtopic.php?f=6&t=687&p=49420#p49420)
The IRS has ruled that losses from PFGBest qualify for "safe harbor" treatment and can be deducted
as "losses due to theft".

the PFGBest scheme qualifies as a “specified fraudulent arrangement” within the meaning of
Revenue Procedure 2009‐20. Thus, investors who otherwise meet the requirements of Revenue
Procedure 2009‐20 may use the safe harbor, following the procedures as set forth in that revenue
procedure.

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You can read more at the CCC website....

http://commoditycustomercoalition.org/?p=2558 (http://commoditycustomercoalition.org/?p=2558)

I've also attached the IRS pdf document with needed forms.

John
SAFE_harbor.pdf (./download/file.php?id=18331)
(47.72 KiB) Downloaded 11 times

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Re: Learning through my mistakes (./viewtopic.php?

f=59&t=1572&p=49508#p49508)

ernest02 wrote:
Hi Everybody!
I have been lurking on this thread feeling not ready to participate, because I see
myself as scarcely qualified to be the gun carrier of the junior fox hunters, but when I
see how the Captain of the Hunt slays the foxes (he surely is the King of Traders!) I
got excited and decided yesterday to start testing these theories on demo trading and
see if I can eventually see some light. One of my first attempts attached herewith was
unsuccessful and I want to learn from my mistakes. My own opinion why this trade was
unsuccessful is based on one or more of the following reasons ‐ and I would really
appreciate some feedback from anyone:
1. There were only two pushes ‐ I should have waited for a third ‐ although I
thought that the beautiful M that formed was enough signal to enter (bit late
because I was waiting for confirmation)
2. When I saw no stop hunting or long pin below the support line (drawn on the
chart) before the turn in a bullish direction, I thought it was safe to hang on to
the trade, because the fox had no plan to trap any bears
3. Was the setup and entry OK and this is just one of those normal situations when
the trade went wrong ‐ which can be expected to happen 10‐20% of the time?
4. Is it more conservative to wait for the break of the previous leg's swing low (the
support line on the chart) before entry or does this just waste pips?

Thank you CJ for your generosity in sharing your experience with us. You are just the
most amazing trader.

Ernest

There's already been some good explanations and I can tell that this stuff is making sense to a lot of
people here. That's good to see. I'll add a couple charts and my comments as well.

We were looking at this and I had it on my watch list as well. First of all, we did not get a well
formed "M"....the 2nd leg did not reach the high of the first leg and there were no long pins, where
the fox is trying to stick the longs up high. This is the area where spread widens in the bid ask as this
occurs but we can't see that on the chart either. It's the spread widening that helps create the long
pins.

As pointed out, we only had 2 pushes higher from the last peak low. It helps to look on the higher
time frame charts to see the levels.

On the 1H chart, you can clearly see the majority of the pins are to the low side...as well as the "W"
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formation...had the "M" formed, it should look more like the blue dashed lines....where the 2nd leg
tests the high of the 1st leg, with longer pins on top....

On the 15M chart, you can see the range, an extension above the range, but no extension lower...by
not extending lower, the fox keeps the shorts trapped from the range, not giving them a chance to
get out at a lower price than their entrance. He already has what he needs and doesn't pin it
low...the small "W" also forms indicating higher price....

Level 3 could go higher, but it is forming....we need to keep this pair on the watch list, look for the
peak high to form and give reversal patterns. After the peak high forms, a period of consolidation
will follow....this is where the next move will originate.

CJ

(./download/file.php?
id=18394&mode=view/3‐23‐2013 10‐47‐40 AM.png)

(./download/file.php?
id=18393&mode=view/3‐23‐2013 10‐54‐55 AM.png)

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(./download/file.php?
id=18392&mode=view/3‐23‐2013 11‐05‐45 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=49511#p49511)

fire580 wrote:
Thank You to everyone who has been contributing here and of course especially CJ
.....You Guys Rock.

Could someone tell me if on a "M" the second swing needs to go above the first or not?

And on a "W" if if the second swing goes below the first or not?

Thank You

Sometimes they do...they need to sell trend continuation to trap traders so it "may" pin higher.

Sometimes it doesn't if they have already trapped a bunch of contracts on the 1st legs, especially if
the 1st leg has a large, quick price swing...

Each pattern has to be assessed on it's own merits. Many times, you will get a second "M" or "W",
that will form after consolidation. These should not form above the last "M" high or last "W" low...

Somebody got raped by the broker, not the fox on the chart below. Note the 40 pip difference in the
low prices here. My guess is that somebody had a nice LONG position established and set their hard
stop just below the pins...the broker spread the bid ask and took the stops before the rise in price.
Instead of a nice gain, this trader took a loss on his order. This is the primary reason I don't use
stops, especially with an ECN broker.

I've been using some stops with the scripts I've used this past week, because I can't manage the
shear number of orders manually, but when I'm trading large lot sizes, I won't use a stop.

CJ

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(./download/file.php?
id=18396&mode=view/3‐23‐2013 11‐26‐41 AM.png)

(./download/file.php?
id=18395&mode=view/3‐23‐2013 11‐31‐55 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=49515#p49515)

Lifesys wrote:
re ScaledInPendingTrades with risk based volume.
CJ
You have inspired me, as a mathematician & grateful learning trader, I jigged a
Scaling trade Script (from tigpips FF) to suit the style we are honing. At a price on a
chart, drop a series of scaled‐in Pending Orders at preset intervals with SL & TP.
Added features incl fixed(yellow), logarithmic(blue) or linearly(magenta) reducing
Vol. for any number of child pending trades. SL & TP can be same price or relative to
each trade start.
ScaleVolume.gif

Best feature for learners (like me) is option that Total Volume of series be %Account
Risk based, so each trade is auto calculated relative to total RiskPercent, enabling
safer scaling of pending orders whilst we build.
I find this increases confidence to drop a series on the chart. If pending trades do not
fire (some missed last night) invoking ScalingScriptCloseALL can close All(Yes) or
delete PendingOnly(No) trades with corresponding MagicNumber on that sheet.
Strongly advise 'ReadMe' first, if new to scaling. Guide notes attached.
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May be useful to others & a way of saying thanks as we work toward our 'green' chart
history ;‐)

I'm sure that this will come in handy for a lot of traders. Thanks for taking the time to put it
together for all of us. ;)

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=49523#p49523)

ernest02 wrote:
Thank you SO MUCH Pips400, Angat and especially the Captain himself who gave such
thorough explanations as well as support to my post of an unsuccessful trade. It really
warms the heart that there are people that take some of their precious time to assist
beginners like me. One day I hope to also be able to be in a position to do the same
and help other people.
Captain you were right when you said that there were no widening of the spread at
the top of the formation. I especially looked for that and the spread stayed the same.
Guys you really rock! I thank you!

Ernest.

If you have any questions concerning spread widening at the top or bottom, or don't know what it is,
just open an order box and watch. You can see the bid and ask prices here, as they form 2 lines.
They tend to follow each other closely, but when they widen, you will see these lines "spread" apart.

The red arrow indicates the spread between the bid and ask prices....this is where you can see the
spread widen or if you have a spread indicator and know your pairs normal spread, you will see it
widen there.

CJ

(./download/file.php?
id=18403&mode=view/3‐23‐2013 1‐21‐14 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=49544#p49544)

xrismak wrote:

Captain Jack wrote:

ernest02 wrote:
Thank you SO MUCH Pips400, Angat and especially the Captain
himself who gave such thorough explanations as well as support to
my post of an unsuccessful trade. It really warms the heart that
there are people that take some of their precious time to assist
beginners like me. One day I hope to also be able to be in a
position to do the same and help other people.
Captain you were right when you said that there were no widening
of the spread at the top of the formation. I especially looked for
that and the spread stayed the same.
Guys you really rock! I thank you!

Ernest.

If you have any questions concerning spread widening at the top or bottom, or
don't know what it is, just open an order box and watch. You can see the bid
and ask prices here, as they form 2 lines. They tend to follow each other
closely, but when they widen, you will see these lines "spread" apart.

The red arrow indicates the spread between the bid and ask prices....this is
where you can see the spread widen or if you have a spread indicator and
know your pairs normal spread, you will see it widen there.

CJ

El Capitaine CJ,

Thanks for your Earlier Inspiring note of Advice with regards to my Trades, I have
noticed one thing with regards to your Comments on the Broker's Spreads and that's
why if you Notice I have Circled the Top Right hand Corner of the Displayed Chart I
Posted, I am only interested in eyeballing that corner when I trade on the lower time
frames such as the M15 as the Chart gives me the Spead on top, and Below the Candle
time, so I am I correct to imply that the Spread and the candle time as in remaining
time left for a Candle to close and a New Candle to form go hand in hand when
Deciding to Enter or Exit a Trade ????
I have also Adopted a New Style :idea: this is from my Observation of some of the
Charts you posted in the Past that when Going in Short in any Trade you always have
one trade Right on top with a SL then further a little way down from the first Short
Trade you then Establish further Sell or Short Trades assuming your Huntch is Right
about the Position of things refferencing that Trade. I have also Noticed the Same
thing and Style when you Initiate Opposite Trades as in Going Long or Doing Buy
Trades.

One final thiing amongst the many Questions I have for you is on the SNAGGIt software
how do you imput text , I can Draw Cirles and draw W's and M's But adding text to my
illustration is a Problem, what or which icon do I click to enable me Add text to what I
illustrate using this Piece of Software :!:

Many Thanks,
xrismak ;)

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Yes, it is the time to candle close. When the fox is at play, many times he will wait and do his deeds
on the "backside" of the candle, not wanting to show his hand too soon.

The trades you speak of are limit trades that are triggered in case of a quick retrace or spike after I
have placed the sell or buy order and stop orders. I enter trades early at times, like the USDJPY
trade Friday and the limit trades will catch a 25‐50 pip move opposite my trades. I don't use this
script very often when trading.

If you look at the GBPNZD chart I posted, there was a limit that nearly triggered on that set of
trades.

To add text with Snagit, click the "A" on the drawing tools menu and create a text box on your
chart...enter your text inside it.

CJ

(./download/file.php?
id=18416&mode=view/3‐23‐2013 3‐44‐10 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=49545#p49545)

lvdfx888 wrote:

Captain Jack wrote:

That's it for me....time for a nap. Closed out everything but a few trades in
the AUD pairs that should payoff into the pullback....

It's been a good day and a great week! Hope everybody has a great weekend!
:mrgreen:

CJ

Hi Captain,

You're superman! Thank you for sharing your knowledge and for your time & patient.
Still struggling to find & follow Foxy traces... Looking forward to learn more and more
from the great master.

Saw your UJ buy trades around 8:30‐9. I was in this trade as well, would like to know
if you sold when it reversed at around 10:40, and if you bought at around 12:00 when

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it started to swing back up.

Thanks
Ron

Hi Ron,

You can see in the statements the exact time the trades closed and I did enter a set of short trades
that came in and closed out during the pullback Friday. They are on the last statement page I
posted.

I have no current position in UJ at this time.

Here's chart that should help you see it...

CJ

(./download/file.php?
id=18422&mode=view/3‐23‐2013 4‐38‐24 PM.png)

(./download/file.php?
id=18421&mode=view/3‐23‐2013 4‐05‐24 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=49554#p49554)

hannele wrote:
El Capitain,

could you please explain three day cycle for me? I am looking for example NDUSD.

hannele

Here you go...

CJ

(./download/file.php?
id=18423&mode=view/3‐23‐2013 4‐59‐39 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=49564#p49564)
If you are having trouble seeing the levels, try switching your charts to "line" from candle. You will
need the candles to see the pins, but switching to a line chart can sometimes help locate the levels.

CJ

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(./download/file.php?
id=18439&mode=view/3‐23‐2013 8‐03‐02 PM.png)

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Re: 10.4 A Complete System (./viewtopic.php?f=38&t=1481&p=49577#p49577)

nanningbob wrote:
This 4H chart will show the rallies more clearly and that affects the indi and the info
it gives. The slope or angle will change and be less accurate. The higher the TF the
more accurate the lower the TF the less accurate. Learning the strength and
weaknesses of an indi will help your trading. The CSS on a daily will give you an
accurate showing of the slope over a period of time as compared to other currency
pairs. The dips and rallies in a trend will not affect it like it does on 4H charts and
lower. However, it will report the change of direction and the slowing down or
speeding up of the angle of trend. That is the valuable info you need to make trading
decisions.

I was just looking at this chart while doing some homework Bob. Take a look at the weekly time
frame as it provides some clues or additional pieces to the puzzle.

Price has been making higher highs and higher lows off the bottom. An inverse head and shoulders
has completed and price has risen above the neckline.

The previous low has been tested, but a new low was not established. There was a pin that
penetrated the previous low, giving inclination to a false break lower. however, price pulled back
from the pin low, leaving a nice clue for the coming week. It's in the red circle. ;)

The candle formation seen on the chart will also appear in between the railroad track candle
pattern. The Doji is supposed to represent indecision but in reality, it represents deception and
allows the market maker an extra week to sell trend continuation to short biased traders, while
accumulating orders before moving price higher, away from them.

A candle with another long wick or pin down could form this week, but my inclination is towards
higher prices in this pair. It is on my watch list this week.

CJ

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(./download/file.php?
id=18447&mode=view/3‐23‐2013 9‐34‐39 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=49580#p49580)
I was reading Bob's thread and saw he made a post on a pair that I have on my watch list for this
coming week. This is a weekly chart, and it gives some clues as to the longer term direction of
EURAUD....

CJ

(./download/file.php?
id=18448&mode=view/3‐23‐2013 9‐34‐39 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=49586#p49586)

lvdfx888 wrote:
Hi CJ

On H4, AUDUSD may form an M. But I see 4 levels instead of 3. Please comment on the
chart what I have done wrong here.

Thank you
Ron.

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Sometimes it helps to look at the picture from a different perspective...consider the following
charts...

You have assigned a level to a stop hunt at the 3 position....stop hunts don't count as levels...

Notice how the levels form...expect a peak in price on level 3 and then consolidation.....price tends
to "chop" at the top or bottom....

CJ

(./download/file.php?
id=18455&mode=view/3‐24‐2013 12‐57‐25 AM.png)

(./download/file.php?
id=18454&mode=view/3‐24‐2013 12‐56‐51 AM.png)

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(./download/file.php?
id=18453&mode=view/3‐24‐2013 12‐56‐19 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=49587#p49587)

mobthehop wrote:
CJ,

I still have problems to visualize the three day cycle and three push up / down on
charts...

In your example (marked peak low) the first candle is actually a red candle on D1 tf ‐
why is this the start of three day up ?

Thks for your patience

Mop

Captain Jack wrote:

hannele wrote:
could you please explain three day cycle for me? I am looking for
example NDUSD.
hannele

Here you go...

CJ

What time frame are you looking for trades upon and why are you looking for the cycle on the D1
chart?

A single D1 candle is comprised or 24‐1H candles, 48‐30M candles or 96‐15M candles.....

I stated earlier the 3 day cycle coincides with the 15M time frame.....and that on the higher time
frames, the 3 legs up or down are longer than 3 days....

If you look at the daily periods on the chart I marked, you will clearly see on day one, price ended

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the day higher, than it began the day. On day 2, price closed higher than it opened, and on day 3 it
did the same. On my charts, I see 3 green D1 candles???

There are no red D1 candles on the days I marked up??? 20‐21‐22

I'm not sure what you are looking at Mop?

Tell me what I'm missing??

CJ

(./download/file.php?
id=18457&mode=view/3‐23‐2013 4‐59‐39 PM.png)

(./download/file.php?
id=18456&mode=view/3‐24‐2013 1‐22‐49 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=49596#p49596)

xrismak wrote:
Roof Tops !.png

lvdfx888 wrote:
Hi CJ

On H4, AUDUSD may form an M. But I see 4 levels instead of 3. Please

comment on the chart what I have done wrong here.

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Thank you
Ron.

Ivdfx888,

I see Roof Tops, CJ what would you say as I might be Wrong with my Visuals.

Cheers,

xrismak ;)

If you are referring to BARF's....NO.

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=49629#p49629)

fok wrote:

Captain Jack wrote:

mobthehop wrote:
CJ,

Interesting, but little confusing.

Brokers with gmt+2/3 have no daily Sunday candles, most of us

recommended this because the daily charts will have 5 candles a
week. For example Cowboy Go Markets AU does do so, BUT then
the daily candle 20.03.2013 is a bear candle (marked with a white
arrow). (GlobalPrime will be in the future a gmt +2/3 broker, Jem
please correct me if I am wrong).

Brokers with gmt+0 have! Sunday candles (I don’t like these Sunday
candles), and the daily candle 20.03.2013 is a bull candle.

The attachment 2.png is no longer available

The attachment 1.png is no longer available

The attachment 4.png is no longer available

The attachment 3.png is no longer available

I prefer a gmt+2/3 broker with correct 5 daily candles a week.

fok

:D

Let me make one thing perfectly clear. When looking for levels or counting levels, I am not talking
about the color of a candle. I have stated that the 3 day cycle is 3 days of rising or falling price, that

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begins from a peak LOW or a peak HIGH. Nowhere do I say to check the color of a daily candle or any
other candles to determine the levels or counts.

What can be more simple than drawing a line from the low to the close of the day to see if price
rose that day?

What can be more simple than drawing a line from the peak high to the close of the day to see if
price fell?

In the NZDUSD example, did price rise from the PEAK low on the 20th? YES! It is the PEAK low and
that is level 1. Don't try to add a bunch of stuff like GMT and candle color to something as simple as
3 days of rising or falling price, from the peak high or peak low.

When it comes down to it, as stated, I prefer a broker whose D1 candle closes at 5PM est to coincide
with NY close and who doesn't use a Sunday candle. BUT, it doesn't matter in the counts because you
begin from the peak low or peak high. Does it rise from the LOW, or does it fall from the HIGH.

Nowhere in this thread is broker time mentioned. Asian, London and NY all operate the same, every
day. Nowhere in this thread is candle color mentioned.

How do you determine peak low or peak high? Seems pretty simple...if price goes lower, then it's not
the peak low now is it? If price goes higher, then it's not the peak high is it?

The candles can all be peppermint sticks and you can still determine if price rose or fell from it's
PEAK LOW or PEAK HIGH.

If somebody does not understand this, I'm sorry, I can't "make" you see this. Open your minds up and
forget all the BS that you've been told about this market.

CJ

(./download/file.php?
id=18485&mode=view/3‐24‐2013 10‐09‐02 AM.png)

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(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=49631#p49631)

Amit wrote:
HI Captain. Thanks for the thread . Read thru all of it today. Could you clarify GCAD
on which level it is cos it has such wide variations that I cant figure it out. My chart
posted.

GBPCAD is full of stop hunts....they can't be counted as levels....they use them to keep traders from
riding the trend higher...shaking them out along the way....

CJ

(./download/file.php?
id=18486&mode=view/3‐24‐2013 10‐44‐26 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=49634#p49634)

lvdfx888 wrote:

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Hi CJ,

Sorry to bother you again. I would like to draw some lessons on my GJ trade on Friday,
please kindly give me some guidance:

GJ chart below shows 2 long wicks (red) which looked like a good setup for level 3
push, then a pull back in NY session. But after trade was entered but price went
south. Luckily the trade was recovered after the long RRT was formed later and price
come back.

1. Did I read the chart correctly ?

2. Price went below L2 low, would the 3 level push is still valid as price seems
heading to L3 ?
3. Is there situations where 3 level push cannot complete and reset ?

Thank you for your patient.

Ron

Your level and count appear right, but you are trading on the 1H time frame. The patterns are still
the same. Price was in a range....the a 3 candle push dropped below the range into a stop hunt, this
is the pattern. You just got in early.

I entered my UJ trade at the same point on the 15M time frame, price continued lower on it as well
and I took additional entry at the bottom of the stop hunt, closed it at the top of the stop hunt and
rode price back down into the range with another set of orders.

You need to work on identifying the stop hunts, when they hit the stops low then high in this case.
Sometimes they hit them high then low. Depends on the pair and the trend.

Some pair tend to have more pins than others and are harder to trade. NZDUSD is another one with
lots of pins...

CJ

(./download/file.php?
id=18491&mode=view/3‐24‐2013 11‐10‐00 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=49638#p49638)

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nicoacademia wrote:
Hi Captain Jack
really must say thank you for putting in all your effort into posting n updating and
clarifying for us all.
i'm greatly appreciative of all your work.
i love how you sling out all your orders. "if i'm right i'm right all the way" style. :)

i've done my homework. learn by doing. and just want to clarify just one thing that
bugs me.
i know the 3 pushes will not always be perfect. but the fox will always have to push
his book.

1)how would you handle the missing count in the middle of last week on the EJ 1H
pair?
it did do a nice W. with a small stop hunt after the pins cluster.

2)looking at the way the EJ ended the week. is that counted as 1 push up(although
they pinned it both ways=stop hunt). meaning the peak low(and also cracked week
low) was made?

thanks for teaching us to tag the foxes trail :)

The attachment 130322 ej weekend.png is no longer available

Your chart looks good....and you will not always get 3 levels up or down. How to handle it is to trade
the "W" and the 2 pins to the low give you the clues. The 2 pins down are where the shorts are
trapped and you want to be long there....

Yes, EJ should be at level 1 consolidation and you should not trade short out of this formation....do
not trade back towards the peak low if the fox heads that way...wait for his turn and pin your order
to his a$$! Think of this every time you see those pins.

CJ

(./download/file.php?
id=18495&mode=view/3‐24‐2013 11‐56‐08 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=49646#p49646)

Lifesys wrote:
Yes, sorry CJ, I would have to agree with Fok on the D1 candle for the 20th March
NZDUSD. The strong rise was clearly on the 21st, starting with hour 1 and not the last
2 hours of the 20th by true Forex week.
This again shows the severe weakness in the GMT system. In this case it completely
distorts D1 candles to show 3 rises 20th, 21, & 22 when there were only 2, 21st &
22nd.
You can't really use D1 or H4 candles as being decisively Up or Down when H1 candles
are moved from one day to another by GMT (non‐NYClose or Forex open) brokers.
This should not affect trading if M15/H1 is used but people just have to get used to
the fact that H4 & D1 will be different.
march20‐D1.gif
march20‐H1.gif

You folks are more than welcome to do your level counts any way you want. By my count, day one of
the price rise from the peak low began on the 20th...it's what I base my trades on. You guys are
more than welcome to base yours on your observations of candle color based on any given brokers
time shift. Don't ask me to validate your choices based on your rules. I don't trade based on your
rules and you will find that I will break most of them. You have asked me why I chose the levels I did
and you have received the answer.

It is rules of this very type that the market makers use against you and other traders. You are also
welcome to continue to trade by those rules should you choose to do so. It's your account, you are
responsible for it.

I don't offer trade signals nor trade recommendations. I offer an alternative way of looking at this
market and my ideas for trading it. Those are not open for change and there are no rigid absolutes
in my methods. I am a trader, not an analyst, and least of all not a "cookie cutter purist" or I would
still be doing the same old BS that still doesn't work.

If I sound pissed, it's because I am. I'm trying to tell you that you are trading in a rigged market. It's
rigged against you from the start. You don't stand a chance! Everything you know is a lie, yet you
seek to perpetrate that lie by insisting on what you know to be correct. Tell a lie enough and it
becomes the truth. People of this planet would still believe the earth was flat if they had the
mindset of forex traders. I captain my own ship. If you are afraid to sail your ship to the ends of the
flat forex world and look into the abyss, then stay at home with your flat beliefs. There's no place
here for them.

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=49689#p49689)
Taking a shot on double top, 2 sets of pins high and possible 2nd leg of the "M"....

CJ

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(./download/file.php?
id=18515&mode=view/3‐24‐2013 8‐54‐17 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=49716#p49716)
Took a small position on EURJPY based on ADR range, near the top and 155 pip move in the Asian
....looking for some pullback....

CJ

(./download/file.php?
id=18527&mode=view/3‐24‐2013 10‐07‐02 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=49728#p49728)

nicoacademia wrote:

Angat wrote:
USDCHF to rise to complete the big W ?

good call.

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06/11/2016 stevehopwoodforex.com • Search

as what steve nison would say "crack and snap"

and what a crack.

another piecing of a mosaic with usd strength.

130325 uchf.png

I got some of the spike in AUDCHF at the same time....

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=49733#p49733)

Angat wrote:

Captain Jack wrote:

nicoacademia wrote:

Angat wrote:
USDCHF to rise to complete the big W ?

good call.
as what steve nison would say "crack and snap"
and what a crack.

another piecing of a mosaic with usd strength.

130325 uchf.png

I got some of the spike in AUDCHF at the same time....

CJ

Both pairs seems bearish to me. I'm not sure if USDCHF will complete the big W in this
case and may head south. What you rekon CJ?

Just scalping some news spikes here and looking for them to pull back towards center...

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=50059#p50059)

f451 wrote:
CJ,

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06/11/2016 stevehopwoodforex.com • Search

Would you mind running through what steps you take in doing your chart homework to
create your daily watchlist?

cheers
Simon

It's fairly easy...I start with the D1, H4 and H1 time frames, looking for level 1 or level 3's in the
bigger cycles. I do this for every pair. Then I'll drop down into the 15M and look for the correct setup
to enter.

Look for pairs that are at the Hi or Lo of yesterday/today, near the extremes of the ADR. You want
to trade the "edges" in on each setup, not the centers out. I'm a lazy and sloppy trader at times and
when I'm confident of of a pairs direction, I'll take an early entry during and not wait for the
optimum setup. Too many people try for the "perfect" setup. as long as I can grad a nice piece of a
move, I'm happy. It's about making money and it works for me.

Here's one that looks good for a possible drop so I'll keep my stops just above the high and may allow
it to move 25 pips or so past...if they don't get the orders they want, they will bump it a bit further
to add to their positions...sometimes you see that "M" at the top but then it pops up 25 pips or so
past it...

GBPCHF...looking for the pullback....if it "pops" I'll add on...

CJ

(./download/file.php?
id=18676&mode=view/3‐25‐2013 8‐12‐30 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=50061#p50061)
Here's another one that's had a large move off the news yesterday....looking for them to bring it
back to book some profit, perhaps a 50% retrace....Looking to add on a drop near the indicated
location....

CJ

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(./download/file.php?
id=18677&mode=view/3‐25‐2013 8‐26‐53 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=50062#p50062)
Another one I'll be watching..."X" marks the spot....

CJ

(./download/file.php?
id=18678&mode=view/3‐25‐2013 8‐32‐08 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=50063#p50063)
GBPJPY.....looks like a candidate.....

CJ

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(./download/file.php?
id=18679&mode=view/3‐25‐2013 8‐37‐48 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=50065#p50065)
Look familiar?

CJ

(./download/file.php?
id=18680&mode=view/3‐25‐2013 8‐45‐50 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=50066#p50066)
Another....take a look at some of these on the H4 and D1 time frames as well....

CJ

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(./download/file.php?
id=18681&mode=view/3‐25‐2013 8‐49‐14 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=50068#p50068)
USDCHF.... everybody should watch these play out later, I'm in some as I may not be around later...

CJ

(./download/file.php?
id=18682&mode=view/3‐25‐2013 8‐53‐14 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=50087#p50087)

xrismak wrote:
End of Story 1.png
Started From Here on Friday 1.png

Captain Jack wrote:

Keep an eye out for stop hunts between 9‐9:30am....session change over
time....I'll be out for a bit....

NZDUSD, USDCAD, EURAUD, AUDUSD, AUDNZD, AUDCAD, AUDJPY...watch list....

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CJ

El Capitaine CJ,

Like I told you earlier this Morning, the Posts are Coming, It's been a while since I
made Money So fast and this Easy, this kind of feels like a Good Dream.... but it's Real
Money and
Started From Here on Friday 1.png

it's on a Live Account. :D

Thank you so Very much.

xrismak. ;)

Good trading! It's always best when it's on a live account and not demo....On to the next trade!
:mrgreen:

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=50090#p50090)

Amit wrote:
Hi Captain,

I am not able to understand why ( tho I see the setup) one would look for GCAD longs
here since , isnt it , just a level one drop on h1 so far ?.. So why are we looking at a
contra trade?

had posted this a few hrs back also alongwith chart. If you could please clarify

thanks

Captain Jack wrote:

Others in the "watch"....AUDJPY, AUDCAD, CADJPY, EURCHF, EURCHF, EURJPY,
GBPCAD, GBPAUD, USDCAD, NZDUSD....like I said, a lot of good looking sets
tonight....

CJ

Don't get stuck on one time frame....when you can't see something on one time frame, look to
another...

CJ

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(./download/file.php?
id=18688&mode=view/3‐25‐2013 10‐44‐59 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=50132#p50132)
Taking a shot on very high R:R trade here..... AUDCHF

CJ

(./download/file.php?
id=18695&mode=view/3‐26‐2013 3‐30‐07 AM.png)

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(./download/file.php?
id=18694&mode=view/3‐26‐2013 3‐31‐06 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=50135#p50135)
Looks like the stop hunt is over on this pair....AUDUSD.....

CJ

(./download/file.php?
id=18698&mode=view/3‐26‐2013 3‐37‐04 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=50162#p50162)
Not too shabby if I do say so myself.... :lol:

CJ

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(./download/file.php?
id=18707&mode=view/3‐26‐2013 5‐28‐45 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=50165#p50165)
My crapT4 is down...going to have to do some work on the POS....back in a bit....

CJ

(./download/file.php?
id=18710&mode=view/3‐26‐2013 3‐50‐06 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=50174#p50174)
GBPAUD....

CJ

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(./download/file.php?
id=18712&mode=view/3‐26‐2013 6‐30‐36 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=50625#p50625)

mjws00 wrote:
This pic is why I haven't jumped in front of the train. But I don't usually predict too
far out. I am good to go long or short on any given day. Feels to me like this runs a
little lower on EUR weakness and low liquidity before it turns. They can still get more
WEAK shorts on board to burn.

Mike

My thoughts on EJ...created back in January......

CJ

(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
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followNev wrote:

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AUD/USD m15

Went short yesterday at the first sign of a Double topping 'M' pattern. Closed the
trade when going to bed as price had not closed below the neck line. When I woke up,
noticed that price had moved lower, retraced to form a new Swing high and was on its
way back down again.
Now I am in profit again, though the stop is at BE, i'll await a new swing high before
moving my stop again.
The key was to bank some profits but also to take the Double top 'M'. Now even if I get
stopped out at BE, i'll have taken some money off the table. Ideally, when there is
divergence on the CCI , i may close some of the current position and re‐enter short at
the next signal. We'll see.!!

http://content.screencast.com/users/fol ... igzag2.gif

(http://content.screencast.com/users/followNev/folders/SHFF/media/d4b801d6‐6e6d‐4ed0‐831d‐
78e5e0a898e4/audusd_m_zigzag2.gif)

Here's a couple other ways to take entry into the "M" formation.

Look for the RRT pattern on top of the 2nd leg....entry as marked on the large "M" as well as the
smaller...

Another way I'll look to enter is by drawing a line from the low of the 1st leg, to the bottom of the
"V" section of the "M"...when price breaks this line, on the 2nd leg, take entry....

These will get you in a little higher than the "technical" entry point....

CJ

(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=50635#p50635)

Mescalitofx wrote:
good morning

i took a sell trade on GBPJPY yesterday, closed it out with a small loss, when i went
to sleep it dropped lower ..... i am very confused at the moment as i was expecting a
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HIGHER UP leg to complete the 3 rise up on higher TF.

Question for CJ: when do u decide to pull the plug when the map is not like u
planned. do u trade lower timeframe to cover losses or drawdown when u enter
Higher timeframe.

I see EURCAD

on the third level low.

gonna take a buy here. will post later the image

eurcad27‐mars‐3dailydown cycle.PNG

and on 15min chart we also have 3 levels

eurcad27‐mars.PNG

I'm not sure about your GJ trade Gerry, a chart would help us to see.....

There is no easy answer for how long to hold on the higher time frame...on the 15M, if you enter a
trade during London, 2‐3hrs should give you a good indication of a correct move. Time slows on the
higher time frames...

Take note of the tick volume on the EC charts you posted...you are entering trades before price
reaches the exhaustion point. When tick volume drops off, the price move is ending and
consolidation is beginning....

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=50638#p50638)

websie wrote:
I have this on USDJPY daily, am I correct in thinking it is forming an M, I am not very
good at this yet so hopefully I am now on the right track

Oh, I don't know, could be....what do you see on these 2 charts?

CJ

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(./download/file.php?
id=18874&mode=view/3‐27‐2013 8‐24‐27 PM.png)

(./download/file.php?
id=18873&mode=view/3‐27‐2013 8‐25‐33 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=50640#p50640)

mobthehop wrote:
CJ,

1. Results for last couple of days attached

a. disregard profit on March 20 which was left‐over from a previous longer term entry
b. loss March 22 ‐ got the three push count wrong and pulled the plug..... dumb!
c. I am trading with pipstep 20 at 0.2 lots & limit myself (more or less) to AU, NU, EG,
EU, GU, AJ, EJ, GJ, UJ for a long while but could never achieve consistent
profitability as my entries were all over the place...

2. Have attached 2 charts ‐ are the respective push counts correct, or are
intermediate pushes that terminate at similar level not counted as a separate push?

3. I enter / trade off H1 and H4 for the "usual suspects" but still have issues to
determine when a move is over, probably as I still cant get the push count right.
Meanwhile switched to M15 / H1....

2. Is the present PA on AJ or CJ (0800 EDT) to be considered a stop hunt? or reversal?

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My hit rate has improved considerably after digesting your approach ‐ thank you very
much!

Mop

There' some good results there but why do you want to trade AJ and CJ when there are easier pairs
to trade right now....both are chopping all over the place, which happens at tops or bottoms, level 3
or Level 1's....

AJ is trapping volume in a wedge....who knows which way it breaks...find a pair that has better
patterns, you don't need to trade chop.

If you trade this stuff, look for the "W" and "M"'s

CJ

(./download/file.php?
id=18877&mode=view/3‐27‐2013 8‐35‐36 PM.png)

(./download/file.php?
id=18875&mode=view/3‐27‐2013 8‐32‐11 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=50644#p50644)

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nicoacademia wrote:
Hi Captain, whenever you see this.

amazing stuff. they've really held it in this range.

sellers at 94.40 area.
yet collecting sellers on spikes down only to bring it up.

your thoughts?

i'm really thankful for being at the right location in the big macro picture.
worst case scenario is they go test the real big Ben pin.93.85 area and below.

no doubt the double weaker US data helped to form this triple top.

Thanks Cap.

130326 usdjpy us session.png

Yes...trapping volume low while holding the level....broke higher for a nice gain, then pulled back
into the range and consolidation....

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=50650#p50650)

Mescalitofx wrote:
:geek:

hehe, ok here we go Placed a new BUY trade eurcad. lets see if it finally will revers
after reaching level3. fall.

CJ refering the GBPJPY, i am confused. and that is exactly where the Fox wants us. i
dont see it trough the mist. let see if u can clear it up.

Possible this is just a congestion zone forming a wedge....

Don't get stuck in one time frame....take a look at the bigger picture....

CJ

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(./download/file.php?
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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=50657#p50657)

nicoacademia wrote:
thanks captain for your wisdoms and insights.
yesterday was tough for me as i didn't react to what was on my screen. too much gains
took my eye off the ball.(like a football team)

your insights help point me back to the right direction. focused on the ball.

hopped onto the EA trade. your timely words on volume exhausting.

i had studied VSA with those so‐and‐sos but your explanation is alot clearer functional
and precise.

130328 EA.png

VSA has it's own terminology and theory but I don't follow it's teachings....

The volume indicator is somewhat misleading in forex. In equities, it is the number of shares trading
hands. In forex, it represents price ticks. What's a price tick? Nothing more than an upward or
downward movement in price. Transactions. It takes transactions to create price ticks.

When "tick volume" is low, there are few transactions taking place and price is relatively stable. In
order for price to move large distances, it takes a large amount of transactions taking place, causing
large numbers of price ticks.

When the fox wants to play, increasing tick volume indicates he's in the hen house. The larger the
number of price ticks, the more he can move price. When this tick volume dries up, the fox has left
the building and price will settle and consolidate.

It is said that the fox steps up and controls the 1st and 3rd pushes in the 3 day cycles. It is said he is
absent during the 2nd push, leaving the retail traders and hedge funds to move price in this leg.

Tick volume is useful in the sense it allows us to see when price is hitting that point of exhaustion,
where the tick volume can no longer support further movement. Use it wisely.

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CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=50659#p50659)
Actives.....

Watch list: EURCAD, EURNZD, Yen pairs...., EURGBP.....

CJ

(./download/file.php?
id=18890&mode=view/3‐27‐2013 11‐17‐22 PM.png)

(./download/file.php?
id=18889&mode=view/3‐27‐2013 11‐08‐50 PM.png)

(./download/file.php?
id=18888&mode=view/3‐27‐2013 11‐08‐18 PM.png)

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(./download/file.php?
id=18887&mode=view/3‐27‐2013 11‐07‐24 PM.png)

(./download/file.php?
id=18886&mode=view/3‐27‐2013 11‐07‐00 PM.png)

(./download/file.php?
id=18885&mode=view/3‐27‐2013 11‐06‐46 PM.png)

(./download/file.php?
id=18884&mode=view/3‐27‐2013 11‐09‐57 PM.png)

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(./download/file.php?
id=18883&mode=view/3‐27‐2013 11‐10‐38 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=50695#p50695)

swisscheese wrote:

Captain Jack wrote:

Actives.....

Watch list: EURCAD, EURNZD, Yen pairs...., EURGBP.....

CJ

Hi all
Back from a little Businesstrip

CJ have a look at my Entry... :lol:

almost the same level.

Cheers
Edi

Edi?

I missed the pins...but got enough of the move....

CJ

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(./download/file.php?
id=18899&mode=view/3‐28‐2013 4‐46‐25 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=50701#p50701)

nicoacademia wrote:
same same but different.

130328 ej.png

Nice "M".... :mrgreen:

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=50704#p50704)
Out for a few hours...

CJ

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(./download/file.php?
id=18903&mode=view/3‐28‐2013 5‐31‐36 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=50721#p50721)

swisscheese wrote:

Captain Jack wrote:

Out for a few hours...

CJ

Dear CJ

This is exploiting of a Curreny‐Pair! 8‐)

Foxology 101 :mrgreen:

CJ

(./download/file.php?
id=18909&mode=view/3‐28‐2013 7‐50‐51 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=50794#p50794)

lhDT wrote:
CJ, could you please explain your EURAUD trade on the chart ?
Did you bought at support then added at new high & every bullish close above the
high ?
I don't really get it, don't see a W or a M or a candle pattern ...

Thx a gazillion :)

I see a "W" that went right into an "M"...I also saw a level 3 low here and was looking for a rise...I
see a Low, a Lower Low and then a Higher low...the higher low is tested and held....

I bought off the "W" and sold the 2nd leg of the "M" down, then bought the rise after the low was
held...

CJ

(./download/file.php?
id=18938&mode=view/3‐28‐2013 1‐37‐55 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=50812#p50812)

Amit wrote:
Shorting as the price keeps rising against you ( in today's case) , not strictly
Martingale I know , but nevertheless requiring deep enough pockets is what I meant :)
. Just like what the commercials do .

retireme wrote:
You might want to read up what Martingale is Amit... :?

Amit wrote:

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06/11/2016 stevehopwoodforex.com • Search
HI CJ,

The GCHF sell today on m15 that you posted. Isnt this kinda
martingale stuff ? Though am sure you're probably not doubling it
with every rise . Takes deep pockets to do that... :)

Captain Jack wrote:

swisscheese wrote:

Captain Jack wrote:

Out for a few hours...

CJ

Dear CJ

This is exploiting of a Curreny‐Pair! 8‐)

Foxology 101 :mrgreen:

CJ

It's no different than this set of trades a week or so ago...look familiar? ;) I have a good feel for
where price is going to go. Am I 100% right? No...but I'm right enough of the time that it's very
profitable. :mrgreen:

CJ

(./download/file.php?
id=18941&mode=view/3‐28‐2013 2‐55‐23 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=50832#p50832)

nicoacademia wrote:
actually one of the reasons why i joined the fxaw forum was to read up more on your
posts Captain.

and this one is gold.(of the many)

120319 1‐46‐42 PM.png

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and from today's haul i'm learning even more :)

thanks so much again. :twisted:
i went to the gym. so when the markets reversed. that was it for me.
o wells.

You would be surprised how many people can not figure out what that chart is showing...even to this
day! 8‐)

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=50838#p50838)

nicoacademia wrote:

Captain Jack wrote:

nicoacademia wrote:
actually one of the reasons why i joined the fxaw forum was to
read up more on your posts Captain.

and this one is gold.(of the many)

120319 1‐46‐42 PM.png

and from today's haul i'm learning even more :)

thanks so much again. :twisted:
i went to the gym. so when the markets reversed. that was it for
me.
o wells.

You would be surprised how many people can not figure out what that chart is
showing...even to this day! 8‐)

CJ

for real? i think they think beyond what they see.

but im seeing what you've marked out all over every pair on the 1H's. 1H being easiest
to see that U in the volume. and then seeing whether price is a inverted U for
weakness or a U or flat priceline for strength/accumulation.

really awesome.

learning alot.(n im guessing u use entropy on the larger TFs >4H back then to
highlight stuff too)

it's been a rough end to the week to me. but more to learn n practice seeing and
understanding from your work is a bright light for me. :idea:

edit:you're so visual too Captain. i love the way you explain your concepts. it nails
what needs to be nailed! n makes actioning upon it so clear n direct.

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Entropy is no longer incorporated into my trading. I will continue to monitor it's development and
will be looking forward to seeing the 'trade bot" in action.

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=50847#p50847)

nicoacademia wrote:

Captain Jack wrote:

Kruspe wrote:
Yop, you´re absolutely right. This consolidation zones are still
"black boxes" for me and I try to learn, how to recognize some sign
which could tell me what´s in the box and how I could profit from
it. What is breakout, what is false breakout etc.. I believe it´s
only matter of time. Thanks again CJ

Finding those boxes is finding the levels. Once you locate the levels, you have
good idea as to where price is going to go, once it leaves the level. That's the
key....

CJ

is this box of consolidation referring to the "accumulation" phase in this material you
teased them with?

consol ‐> stop hunt ‐> drive/profit

120324 captain jack(learn this pattern).png

Yes, the consolidation phase or box is where they are accumulating orders for the next
phase....does that pattern from over a year ago look familiar?? 8‐)

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=50885#p50885)

bluedog23 wrote:
Hello CJ,

At times I find it difficult to identify "pushes". In the attached chart is the drop down
into the large consolidation zone considered push 1? Or is push 1 the drop out of the
consolidation zone.

I am a relatively new trader to FX and only trading live for a few weeks. I am happy
to say that I am up substantially since going live and following your thread. I

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appreciate the knowledge you are sharing. I have quickly arrived at the point that it
drives me nuts if a chart has indicators posted on it. Thought you might get a laugh
out of that.

Thanks,

Ray

I would think that you have to go back to the last highest high before you begin your count. If that's
the case, we should be at level 3 low. If we are, you can expect to see a test of the low, but the
previous low should hold and price could rise from that point, to give us a level 1 rise off the peak
low.

Take a look on the D1 as well, you see that they have held price at this level for a day to pick up
contracts. Look for the next D1 candle to pin low, but not lower than the previous D1 candle. A
break and close below the previous low indicates another level down.

The 3rd level down was hit when the the Low formed...the orange circle indicates the day that
price was held at this level to allow accumulation to take place, during the extra day.

Glad to here you are starting out on the right foot and doing well as a new trader. :)

CJ

(./download/file.php?
id=18964&mode=view/3‐28‐2013 9‐30‐37 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=51027#p51027)

nicoacademia wrote:
something seeing now on the GU

130329 gu.png

I see price setting up for level 2 consolidation and you getting locked into the range...setting up for
a gap move on Monday....

Since this is a level 2 rise, the gap "may" be to the lower side Monday, before rising to level 3....

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In your count, you have marked the stop hunt as level 2. You can't have 2 levels of rise on 1 day,
which you have done with levels 1 and 2.

You will need the gap down Monday to exit this trade if it plays out that way....otherwise it may go
against you....

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=51035#p51035)
Spread widening on the last pin....GBPUSD....

CJ

3‐29‐2013 1‐10‐12 PM.png (10.01 KiB) Viewed 183 times

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=51036#p51036)
Spread widening to the low side...this is what happens when they create the pins....

CJ

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3‐29‐2013 1‐15‐54 PM.png (9.31 KiB) Viewed 185 times

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=51059#p51059)
[

Angat wrote:
Hey CJ, did you ever feel you understood what was going on one week and felt a bit
clueless the next?

Yes...it's like counting the black dots..... :twisted:

image002.jpg (13.33 KiB) Viewed 305 times

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=51094#p51094)

bluedog23 wrote:
gbpaud daily.gif

Here's an example of what Captain Jack has taught us about how they widen the
spreads and create the pin bars. The spread widened to about 8‐9 pips as the last H1
bar of the day formed. It came back to a 4‐6 pip range by the end of the bar.

It's also interesting that the low of the last bar did not reach the low of the bar at
06:00 (yellow line) keeping the shorts locked in their positions. They can spend the
weekend hoping that the pair tanks on Monday putting them in the money.

Thanks CJ, I see things that went right over my head before. I place trades now with
so much more confidence. I realize that I might not always be right, but I am right
most of the time.

Hope everyone enjoys the holiday weekend.

Good example. Watch this happen when they are spiking price during a news event. You will see it
widen at the extreme and come back in line when they are ready to move price the other way...

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=51097#p51097)

eltax100 wrote:
WOW look at the spread can anyone beat this ?????

There's a lot more going on here on this chart that we haven't gotten into yet. We've touched on the
spread widening but mostly in relation to the pins and hitting stops.

Look at the current status of your short trades here. Even though the candle is well below your
entry, your trades show you are in the red (‐36 and ‐34 pips). If you are "candle watching", see this
and close out your orders, then you've just given your money away.

This is how people in margin trouble are forced into closeouts.....

This is how stops are triggered, putting people into bad trades but not allowing TP orders to
close....

If you saw this candle in real time and decided to place an order....look at where a BUY and a SELL
order would have been filled here....

What you see isn't always what you get....that's why I talk about spread widening. It happens on all
brokers, but not to this extent. It is has less of an effect on fixed spread brokers than on ECN type
brokers.

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So what else is going on here? Fox tracks everywhere when you know what to look for. So much so,
you might even find some fox droppings here...maybe a big old pile of them....

I talk about not using indicators because they don't work in the manner most think they do. 3 of the
big ones are moving averages, pivot levels and fibo levels. Who hasn't used, or still uses moving
averages? Same questions for the fibo and pivot levels. If you use them, as intended, know they will
work when the fox allows them to work. Don't feel bad as you have a lot of company, like the 95% of
other traders who lose money in these markets. It's designed that way. If you use them in the way
the fox does, congratulations...you are probably in the 5% of the people who make money in this
market.

Everybody understands that price creates these levels and that price has tendencies to return to
these levels. We all know this. What we all don't know and understand is that it is the fox who
controls price to create and validate these same levels and lines. I've touched on this before.

Support and demand areas, pivot levels, fibo levels are created as "meeting places" for the bulls and
bears to gather, in order to generate the transactions that are required to move price and generate
profits for the fox. That is the sole purpose price returns to these levels.

Back to the chart....I've not done this ahead of time, but if you were to throw some common moving
averages, S/R levels, pivots or fibos on the chart, you will begin to see what is happening. When
price is brought to a specific area, such as happens during Asian range, support and demand levels
are being created or validated. It happens right in front of our eyes yet people seem to be amazed
that price returns to these levels. They trade these levels based on their perceptions of them and
not the reality of them. It's like the black dot illusion. Even though there is nothing but white dots in
front of our eyes, we still "see" the black ones, therefore they have to be there.

This chart is a 15M chart....look at the last 4 candles...can you tell what just happened? Go ahead
and toss some MA's on, you know you want to. ;) Use some common ones, 5, 14, 21, 34, 50, 100,
200...or any from the hot systems out there....what do you see??

Switch to the 1H chart and look again....what do you see?

You have to understand that a picture is being painted right in front of you and that this same
picture is spread over all the time frames. We will stick to the 15M and 1H for now....what do you
see?

Notice also that price has dropped to and possibly just exceeded the last lowest candle....something
we have covered many times here....pinning to the same low or high....but this isn't a pin...but may
end up as a long set of RRT's, possibly with a star formation thrown in....

CJ

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(./download/file.php?
id=19039&mode=view/3‐29‐2013 9‐55‐24 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=51113#p51113)

nicoacademia wrote:

Captain Jack wrote:

nicoacademia wrote:
something seeing now on the GU

The attachment 130329 gu.png is no longer available

I see price setting up for level 2 consolidation and you getting locked into the
range...setting up for a gap move on Monday....

Since this is a level 2 rise, the gap "may" be to the lower side Monday, before
rising to level 3....

In your count, you have marked the stop hunt as level 2. You can't have 2
levels of rise on 1 day, which you have done with levels 1 and 2.

You will need the gap down Monday to exit this trade if it plays out that
way....otherwise it may go against you....

CJ

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thanks so much Captain for this. deep inside i know i don't really know how to count
levels.

are there anymore characteristics you have observed we should look out for in
counting the level of pushes?

‐2 levels can't rise in the same day

‐stop hunts are not levels

i've attached AJ for this last week and in that rise up. i was not able to count the 3rd
push before they sank it. do you know where i missed it?

The attachment 130330 aj.png is no longer available

You won't always get 3 clean up or down legs. If they did it that way, we could all read it like a
book...sometimes they throw in the stop hunts, sometimes it will rise of fall and extra level or 2. It
may come up short a level or two. It all depends on where the money is for them.

CJ

(./download/file.php?
id=19047&mode=view/3‐29‐2013 11‐56‐09 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=51166#p51166)

nicoacademia wrote:

Captain Jack wrote:

nicoacademia wrote:

thanks for replying Captain.

understood. it's like trying to finesse a Formula 1 car through the

corners. not everything will be the same(steering angle, tyre grip,
track conditions, etc) and to deal with it in real time.

i guess i have to keep on seeing n counting to get a grip with it.

thanks for posting the levels n the way you see it/count it.

training my eyes to see as you see.

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There's another stop hunt in the 1st level as well....see the RRT up into the
RRT down, in the drop? That's a stop hunt on a lower time frame chart...so
they added a stop hunt in each level....

CJ

130330 aj stophuntpush.png

Captain, referring to this stophunt highlighted by the box off the first push out right?

On the left side of the box....

CJ

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=51168#p51168)

bassramy wrote:
Just a follow up, notice the spread and the candles on the Chart.

Alpari has done this stuff in the past...I would suggest a different broker....

Here's an old chart of NZDCHF that has 60 pip spikes all the way up this trend....No other broker
feed had that at the time....

CJ

(./download/file.php?
id=19064&mode=view/3‐30‐2013 10‐12‐10 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=51195#p51195)

lhDT wrote:

Captain Jack wrote:

lhDT wrote:
Last week was good but this one nope. In fact I'm always a bit
afraid of buying to lows & selling he highs ... afraid of more follow
trough.

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Example : I Spot a good "W", I want to go long at the "\/\_" leg
and then it suddenly drop more and SL is hit ...

Post some charts where the trades failed Lio, it will help to analyze what
went wrong....
CJ

Thanks CJ, here is one on cable.

1. I saw a "W" but my bias was to the downside on cable so I decided to go short at the
"V" from the "W", my target was to lock at the bottom to see what is going on
(honnestly I was expecting a break to the downside).
2. Doesn't do what it should do ... so I re‐shorted at a new high. Trade was in profit
and I could exit both for a BE but my bias was still fixed to the downside.
3.I saw a big spike late in the day, so I decide to short again around a new high
retest. Was end of day so chances were to a retrace ...

Unfortunately nope, nothing worked and I existed with a 1% loss overall.

When reviewing bad trades after the week, the errors we made are always crystal
clear ... unfortunately this isn't happening when you hit the button in a live market.
I think my biggest mistake here was to enter on the "V" instead of waiting the
complete W formation (which never happened btw).

CJ, Please comment :)

PS : Reviewing bad trades in "public" is a kind of a therapy :) Everyone should do that

!

Yes, unfortunately, this isn't the way to trade the "W" and "M" formations....

You should have determined what level or step in the cycle the pair was currently trading in. This
gives you an idea of where price will go, either up or down in the cycle.

GBPUSD had just completed its drop and formed a peak low...this should tell you the pair bias is
long, not short. All the pins are to the low and shorts are trapped there. You just happened to
become a short who got trapped at a higher level because you will still thinking short...

Price rose from the low and consolidated....it then broke higher, where the stop hunt began. Look at
the 3 "momentum" candles that drove price to the bottom of what you label as the 1st leg of the
"W"...these are the 3 pushes lower that convince you that price is going south. The pin here is the
clue to go long....

When shorts are trapped, there is no reason to lower price again and give them a chance to exit...

There is another stop hunt at the point you label 3...they hit the stops high and then low, this is a
clue to add to your long...you buy the stop hunt on the way up and sell them on the way down... I
think I mentioned that before in the thread.

Look at past levels and notice how they use the stop hunts in between the levels...they are always
there...

Thanks for posting the chart and your trades Lio. It helps to see where we go wrong and why we go
wrong at those places. We can all benefit from these trade reviews.
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CJ

(./download/file.php?
id=19074&mode=view/3‐30‐2013 1‐11‐52 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=51211#p51211)

pips400 wrote:

Captain Jack wrote:

BritShrtHair wrote:
Trying to catch up on this great thread.
Luckily we have a long Easter weekend ahead of us.

CJ, what makes you decide the blue rectangle is not level 2 ?
Thank you.

It's a stop hunt in the 3 level rise from 1 to 2...

CJ

Hi CJ, can you clarify for me the fox strategy in during a stop hunt in the middle of a
3 phase run. If in this example there's a pin high this is allowing entries going long in
the same direction as the fox which isn't what the fox wants, and I'm guessing it's not
offloading because the fox hasnt finished yet, so the only thing I can think off is
making some quick kills along the way because price also drops to the downside
possibly enough to stop out the new bulls and pick up some bears along the way?

Thanks

Pips400

He does it to shake out weak longs and bait in short biased bears. The trend has been down for
several days...confusion is used along with quick price changes in a series of false moves, to
accomplish the task...

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CJ

(./download/file.php?
id=19079&mode=view/3‐30‐2013 6‐21‐54 PM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=51280#p51280)
I thought everybody might enjoy an Easter egg hunt today....the "egg" is price....can you find it?? :lol:

Happy Easter everybody!

CJ

(./download/file.php?
id=19112&mode=view/3‐31‐2013 11‐12‐11 AM.png)

(./download/file.php?
id=19111&mode=view/3‐31‐2013 11‐13‐54 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=51446#p51446)
GBPUSD ‐ we were looking for the rise....

CJ

(./download/file.php?
id=19176&mode=view/4‐1‐2013 10‐54‐24 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=51452#p51452)

hodgires wrote:
Good day, Captain... sometimes, it is very difficult to see if a stop run is in place or
if a leg is being drawn...in this chart would you consider this a stop run or the first
leg of of the "W" being drawn? Thanks you.

Rich

Hard to tell on this one Rich. 15M shows long bias due to the pins, but H4 shows consolidation with a
lower low in this H4 candle...I see no trade....

CJ

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(./download/file.php?
id=19182&mode=view/4‐1‐2013 11‐12‐13 AM.png)

(./download/file.php?
id=19181&mode=view/4‐1‐2013 11‐09‐41 AM.png)

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Re: The Captains Chest ‐ Naked Trading & Other Stuff (./viewtopic.php?
f=59&t=1572&p=51462#p51462)

lhDT wrote:
NZDUSD long on the "W". Comments welcome :)

I had an order here as well, but was away from the PC when NZDJPY pinned low...

CJ

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