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The Jail Break System

  • #8,201
  • Mar 12, 2020 12:47pm Mar 12, 2020 12:47pm
Quoting Northumbrian
Hello TraderRON I'm still in a short with EURGBP and had another DD of about 17% but is now starting to head south I know you talked about TP of .86600 a few days ago so I'm not sure if you are still in this 'nice short trade'? I know ECB were talking about the possibility of interest rate cuts. Also now that USA are keeping out of the Schengen Area, this could have detrimental economic implications to Euro? I am sure MM's will use all this to their own benefit. Regards, N
Hi Northumbrian,

Sorry for the late reply.. was on the call.

Yes I’m still with short EURGBP at now target has change to 0.87100 instead of 0.86600. Because I have re-enter again and change my target.
10% buy 10% sell 80% waiting
  • #8,202
  • Mar 12, 2020 12:54pm Mar 12, 2020 12:54pm
Short CADJPY target achieved at 77.000.

Long GBPNZD target achieved at 2.05600.
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10% buy 10% sell 80% waiting
  • #8,203
  • Mar 12, 2020 12:57pm Mar 12, 2020 12:57pm
Quoting Sorel
{quote} Took profit at 105.07. UJ struggled to break 106 so i preferred closing.
Well done Sorel.
10% buy 10% sell 80% waiting
  • #8,204
  • Mar 12, 2020 1:03pm Mar 12, 2020 1:03pm
Quoting TraderR0N
Hey guys, When trading long for most JPY pairs. Just got to be more patience. Range is huge and just let it run to the extreme.. soon will surprise all..
Here.

Is JPY cross pairs heading north?
10% buy 10% sell 80% waiting
  • #8,205
  • Mar 12, 2020 1:16pm Mar 12, 2020 1:16pm
Quoting Sorel
{quote} Took profit at 105.07. UJ struggled to break 106 so i preferred closing.
Very nice trade.

Keep this up and you'll want to trade 24 hours a day, ha ha.
Patience, let the trade come to you.
  • #8,206
  • Mar 12, 2020 1:20pm Mar 12, 2020 1:20pm
GBP/USD 4 hour update.

At last we have a retracement.

I'm looking for the pair to turn around at 1.27600 and head back south.

Buyer beware.
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Patience, let the trade come to you.
  • #8,207
  • Mar 12, 2020 1:25pm Mar 12, 2020 1:25pm
Quoting PokerChip
{quote} Very nice trade. Keep this up and you'll want to trade 24 hours a day, ha ha.
haha well your method makes trading a lot more enjoyable for me, that's for sure
  • #8,208
  • Mar 12, 2020 1:49pm Mar 12, 2020 1:49pm
Quoting Sorel
{quote} haha well your method makes trading a lot more enjoyable for me, that's for sure
That's why I started this little thread, was to help traders help themselves.

The jail break system will work if a trader can find a pair that has price action of the levels.

Not all pairs will trade in levels. I have about 8-10 pairs that I can usually count on to be in these levels.

Right now I really like the way the GBP pairs are trading right now.
Patience, let the trade come to you.
  • #8,209
  • Mar 12, 2020 1:55pm Mar 12, 2020 1:55pm
Hopefully we can see some stocks recovering soon next week and could then see JPY pairs heading north soon.

Remember Trump wouldn’t want stocks to crash or dip lower and wants a weaker dollar.

Won’t be surprise to see US - China trade war talks resume back. It was been hold back due to the Covid-19.
10% buy 10% sell 80% waiting
  • #8,210
  • Mar 12, 2020 2:03pm Mar 12, 2020 2:03pm
Quoting PokerChip
{quote} That's why I started this little thread, was to help traders help themselves. The jail break system will work if a trader can find a pair that has price action of the levels. Not all pairs will trade in levels. I have about 8-10 pairs that I can usually count on to be in these levels. Right now I really like the way the GBP pairs are trading right now.
Is that why you don't trade AC ? I thought this was a textbook reversal - level 1 cycle but have you noticed that usually this pair does not respect these levels ? Just asking because I trade commodity pairs quite often.
  • #8,211
  • Mar 12, 2020 2:10pm Mar 12, 2020 2:10pm
Getting late here.

Good night everyone.
10% buy 10% sell 80% waiting
  • #8,212
  • Mar 12, 2020 2:21pm Mar 12, 2020 2:21pm
I have bought again USDJPY at 105.370.
Target at 106.000.
10% buy 10% sell 80% waiting
  • #8,213
  • Mar 12, 2020 2:36pm Mar 12, 2020 2:36pm
Pop in for awhile.

Sold EURAUD, EURCAD and GBPAUD.

Bought GBPUSD.

As for USDCAD most probably will dip down at FOMC as mention... just wait..

Please trade at your own comfort risk.
My risk and yours could be different.
10% buy 10% sell 80% waiting
  • #8,214
  • Mar 12, 2020 2:41pm Mar 12, 2020 2:41pm
Quoting Sorel
{quote} Is that why you don't trade AC ? I thought this was a textbook reversal - level 1 cycle but have you noticed that usually this pair does not respect these levels ? Just asking because I trade commodity pairs quite often.
That's the reason I don't trade this pair.

I think the levels aren't respected and true because the market maker has traders trapped.

And they'll always go for the trapped traders breakfast, lunch, and dinner.

I some of these account managers on these pairs are insane.

When I look at any chart I see just the opposite of the chart.

I'm always leary of a reversal at any point.

Using the daily chart for the direction and 4 hour chart my entry has helped a lot for not getting stuck in a trade so much.

At this point I'm beginning change my style and raise my lot size and going for shorter moves 10-20 pips.

I still like to only make 3-4 trades per day, it helps me sleep better.

I can't stress this enough, get you're margin as high as you can get it.

And I mean crazy high.

This is you're insurance policy against being whip sawed by these crazy account managers.

If you have a high enough margin they can't touch you.
Patience, let the trade come to you.
  • #8,215
  • Mar 12, 2020 2:42pm Mar 12, 2020 2:42pm
Quoting TraderR0N
Getting late here. Good night everyone.

Good night Trader Ron
Patience, let the trade come to you.
  • #8,216
  • Mar 12, 2020 2:42pm Mar 12, 2020 2:42pm
Quoting PokerChip
{quote} That's the reason I don't trade this pair. I think the levels aren't true because the market maker has traders trapped. And they'll always go for the trapped traders breakfast, lunch, and dinner. I some of these account managers on these pairs are insane. When I look at any chart I see just the opposite of the chart. I'm always leary of a reversal at any point. Using the daily chart for the direction and 4 hour chart my entry has helped a lot for not getting stuck in a trade so much. At this point I'm beginning change my style and raise...

10% buy 10% sell 80% waiting
  • #8,217
  • Mar 12, 2020 2:59pm Mar 12, 2020 2:59pm
Quoting PokerChip
{quote} That's the reason I don't trade this pair. I think the levels aren't respected and true because the market maker has traders trapped. And they'll always go for the trapped traders breakfast, lunch, and dinner. I some of these account managers on these pairs are insane. When I look at any chart I see just the opposite of the chart. I'm always leary of a reversal at any point. Using the daily chart for the direction and 4 hour chart my entry has helped a lot for not getting stuck in a trade so much. At this point I'm beginning change my style...

PC so let me ask you. How would you trade 10 000,- account in matter of money management?
Whether you think you can, or you think you can't,you're right. H.F.
  • #8,218
  • Mar 12, 2020 3:08pm Mar 12, 2020 3:08pm
What a joke S&P500 just plunge down another 10%.

Just wow.....

surprise all sooooon. Wait for it.
10% buy 10% sell 80% waiting
  • #8,219
  • Mar 12, 2020 3:12pm Mar 12, 2020 3:12pm
Quoting PokerChip
{quote} That's the reason I don't trade this pair. I think the levels aren't respected and true because the market maker has traders trapped. And they'll always go for the trapped traders breakfast, lunch, and dinner. I some of these account managers on these pairs are insane. When I look at any chart I see just the opposite of the chart. I'm always leary of a reversal at any point. Using the daily chart for the direction and 4 hour chart my entry has helped a lot for not getting stuck in a trade so much. At this point I'm beginning change my style...
Thanks for the clarification. I will focus on more "disciplined" pairs then. Agree on the margin. Took a 20% hit on that crazy spike Sunday because of too much leverage.
  • #8,220
  • Mar 12, 2020 3:24pm Mar 12, 2020 3:24pm
Quoting PokerChip
{quote} That's the reason I don't trade this pair. I think the levels aren't respected and true because the market maker has traders trapped. And they'll always go for the trapped traders breakfast, lunch, and dinner. I some of these account managers on these pairs are insane. When I look at any chart I see just the opposite of the chart. I'm always leary of a reversal at any point. Using the daily chart for the direction and 4 hour chart my entry has helped a lot for not getting stuck in a trade so much. At this point I'm beginning change my style...
Hi PC, i found you thread and try to learn about you technic, this is really good, by the way i'm beginner who loss much money on forex and tey to find a good technic to recoup all my losses

If you dont mind can you tell me what Moving average do you using?
And what your favorite pairs
I'm still learning on forex, hope can make recoup as you did

PS: sorry if my english not really good cause it's not my first languange

Regard from Indonesia
Never stop learning
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