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We all need pivots to win..yes or not? 13 replies

The System (Irony included) 1,175 replies

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The System II (Yes with irony)

  • #81
  • Apr 10, 2008 11:12am Apr 10, 2008 11:12am
Quoting panos69
hi feb
i learnt a lot from your first system.excellent job you do...
i believe you reentered at the same price because the first time it broke you gained 11 pips and stopped out at -9 pips.
so you assumed that the next break would be more powerful.
you are definitely close but let me elaborate

Higher/highs - lower lows...that's a key ingredient in order to read the markets


the market "failed" to move higher...oh yeah I got stopped
so I tell the charts ( yes I talk to the markets) "are you're going to move up...huh???" "show me your higher highs mother !@#$$$$% LOL

" oh so you're acting sissy....oh is that what you want??? so you just fooled me into moving higher???

I am going to getcha down"


You don't have to talk to the charts...it's just my style LOL

Peace
Peace
  • #82
  • Apr 10, 2008 11:15am Apr 10, 2008 11:15am
Quoting mfsloane
It made a lower high and then turned down again.

Great thread.

Thanks,
Mike
there you go

That's what I am talking about

Peace
Peace
  • #83
  • Apr 10, 2008 11:19am Apr 10, 2008 11:19am
you can scale out a position if you want

I am not a fan of scaling out but some people do it...no big deal..

Just be sure that scaling out increases your risk and minimizes your profit.

The whole idea of scaling out in my humble opinion is to look for a runner.

Peace
Peace
  • #84
  • Apr 10, 2008 11:25am Apr 10, 2008 11:25am
downtrend=lower lows +lower highs
uptrend=higher highs +higher lows
if in a downtrend the pullback doesnt form a higher high + higher low most of the times the downtrend will continue...
thanks
  • #85
  • Apr 10, 2008 11:32am Apr 10, 2008 11:32am
This is a trade on E-mini S&P (ES)

Just one side note on the charts

the rest it's up to you to analyze

Still ll riddin' the trade by the way

Peace
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Peace
  • #86
  • Apr 10, 2008 11:32am Apr 10, 2008 11:32am
Quoting panos69
downtrend=lower lows +lower highs
uptrend=higher highs +higher lows
if in a downtrend the pullback doesnt form a higher high + higher low most of the times the downtrend will continue...
thanks
there you go

that's the idea

Peace
Peace
  • #87
  • Apr 10, 2008 11:44am Apr 10, 2008 11:44am
A side not about the last charts

This not how I trade ES. I use this method today as I felt it is appropriate for you guys to see another market. It works really good, but is not my style on indices. All my trades are live trades..I don't demo trades

Peace
Peace
  • #88
  • Apr 10, 2008 11:58am Apr 10, 2008 11:58am
Hello Dear Feb2865, thanks a lot for your great insight through this thread. Very interesting and enlightening.

Is is a current live trade I am in on the Euro 5min spot forex

Please give me criticism if you see my reasoning not appropriate.

Reason for the trade is Euro is making lower high and lower low and the swing is more than 40 pips before the pullback.

As soon as the price has gone below the extreme low of my swing, I was in.

I am still in and loosing for the moment but want to see if market will make higher high before deciding on the exit.

I think we need to give the market some space to run. Anyway risk is tightly controlled according to my risk parameter which no more loosing than 1-2% on any trade

Sincerely

Shreem
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  • #89
  • Apr 10, 2008 12:13pm Apr 10, 2008 12:13pm
Quoting Contango
Hi Feb, thanks for starting this thread. I appreciate you wanting to share your knowlege with us.

I have a question regarding initial swing movement.
You say you look for roughly a 30-40 pip movement to signal the start of a swing then wait for a retracement, well what if that initial swing movement was say 100 pips + (like we have just had on the EURUSD). Would this in any way effect your expectation of a continuation of the movement after the swing high was broken?


thanks in advance,

Contango.
i just came in , thanks Feb for sharing your knowledge

Contango, for me, what i dit see and trade, we had 2 nice retracements in eurusd this morning.
Dit i get something wrong? please tell me if so.
I dit a couple of nice trade today using this strategie. I closed all of the trades to early but there was no looser at all
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  • #90
  • Apr 10, 2008 12:14pm Apr 10, 2008 12:14pm
Shreem

you just made a great observation

based on your charts, there's something I should tell you guys about the markets

swings/trends has pullbacks and corrections

in essence it's just about the same...some guru's argue that corrections are deeper that pullbacks etc...It's irrelevant in my opinion

when the move /swing/trend etc. has been going for quite some time now....it's due for a correction.

Corrections can lead to reversals.

My suggestion is to try to take the first swing of your session, either London, New York, Sidney or Asian...doesn't matter..In my opinion when sessions overlap is where you have the best chance.

Take note of this post......

Peace
Peace
  • #91
  • Apr 10, 2008 12:25pm Apr 10, 2008 12:25pm
Ok here's another situation

don't make the "rule of 20" a hard and fast rule. I mentioned this before.

make sure your stop-loss is away from the noise, especially if you're trailing 1 tick at the time like me.

Peace
Peace
  • #92
  • Apr 10, 2008 1:13pm Apr 10, 2008 1:13pm
Feb,

Much appreciation for sharing you hard earned skills.. My mt4 platform with interbank does not allow a trail stop to be activated initially........ So if I want to put a 20 pip trail stop, I first need to place a stop loss of 20 and once the trade goes in my favor 21+pips, the pip by pip trail stop is activated... What do you think of this situation? If there are others using Interbank please correct me if I am wrong.


Thanks
Unus pro omnibus, omnes pro uno
  • #93
  • Apr 10, 2008 1:18pm Apr 10, 2008 1:18pm
Feb -

What kind of charlatan dribble are you going on about?

Please see attached chart, I think something is wrong with it?

Good to see another thread.

You new guys listen up, he knows what he talking about.

Chris
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  • #94
  • Apr 10, 2008 1:21pm Apr 10, 2008 1:21pm
Quoting moneda
Feb,

Much appreciation for sharing you hard earned skills.. My mt4 platform with interbank does not allow a trail stop to be activated initially........ So if I want to put a 20 pip trail stop, I first need to place a stop loss of 20 and once the trade goes in my favor 21+pips, the pip by pip trail stop is activated... What do you think of this situation? If there are others using Interbank please correct me if I am wrong.


Thanks
hey Moneda

I don't have any experience with mt4. I am so sorry I can't help!!


Peace
Peace
  • #95
  • Apr 10, 2008 1:22pm Apr 10, 2008 1:22pm
Quoting clockwork71
Feb -

What kind of charlatan dribble are you going on about?

Please see attached chart, I think something is wrong with it?

Good to see another thread.

You new guys listen up, he knows what he talking about.

Chris

hahahaha...good to see U around my friend

by the way, how's the baby???

Peace
Peace
  • #96
  • Apr 10, 2008 2:08pm Apr 10, 2008 2:08pm
Hi Feb and all others,

i would say thank you for the good work, i'm reading the irony thread and also the thread from FTI. I like these styles of short timing pipping :-)

Keep up the good work!

Regards from Mallorca
  • #97
  • Apr 10, 2008 2:10pm Apr 10, 2008 2:10pm
Quoting feb2865

the market "failed" to move higher...oh yeah I got stopped
so I tell the charts ( yes I talk to the markets) "are you're going to move up...huh???" "show me your higher highs mother !@#$$$$% LOL

" oh so you're acting sissy....oh is that what you want??? so you just fooled me into moving higher???

I am going to getcha down"


You don't have to talk to the charts...it's just my style LOL

Peace
Great!

I talk to the market too... guess I'm doing at least something like you, Feb!

My wife thinks now I need a psychiatrist ... Naked AND screaming to the PC! (At this time I guess she just forgot I'm a doctor )

Hahaha, just kidding

Still had no time to try this system (on demo, of course, hey I'm a mortal...) As soon as I can try it I come back with the feedback

Wish you the best!


PS: Forgot to say... I just caught a nice move (live trading!) on USD/CHF with you System I (the inverted "V", but don't tell anyone, cause it was on 4H timeframe ... saw the pattern, pulled the trigger... Thanks!)
Many share my views with me. But I don't share them with them...
  • #98
  • Apr 10, 2008 2:24pm Apr 10, 2008 2:24pm
Quoting HouseTrader
Great!

I talk to the market too... guess I'm doing at least something like you, Feb!

My wife thinks now I need a psychiatrist ... Naked AND screaming to the PC! (At this time I guess she just forgot I'm a doctor )

Hahaha, just kidding

Still had no time to try this system (on demo, of course, hey I'm a mortal...) As soon as I can try it I come back with the feedback

Wish you the best!


PS: Forgot to say... I just caught a nice move (live trading!) on USD/CHF with you System I (the inverted "V", but don't tell anyone, cause it was on 4H timeframe ... saw the pattern, pulled the trigger... Thanks!)
hahahaha..yes that's our lil secret

Thanks for the wishes

if you have any doubt don't hesitate to ask...I'll do my best to help

Peace
Peace
  • #99
  • Apr 10, 2008 3:40pm Apr 10, 2008 3:40pm
being going through your educative post and it seems to be making sense.
i don't know if you have come across this e-book ICWR (impulse corrective wave retracement ) your system reminds me of it and it looks great, though haven't really tried it out thoroughly but on paper might work. got to try it out because of the way you have thrown more light to the system.
  • #100
  • Apr 10, 2008 3:47pm Apr 10, 2008 3:47pm
Quoting feb2865
Here's a trade I just finished like 10-15 minutes ago

notice that I did a re-entry

can anybody tell me why I decide to re-enter at the same spot ??? same price ??

by the way I am using currency futures. The feed it's not the same, but the swings are somehow similar to the spot.

Peace
Hi Feb,

Looks like price re-tested this area 3 times and on the 4th try finally broke below the re-entry line. The multiple re-tests show it's a strong support area and once broken it should go down to the next support area.
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