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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)

  • #161
  • Apr 11, 2008 1:09pm Apr 11, 2008 1:09pm
This is for you guys to have something to think about during the weekend

Nothing is for certain in the markets...or I should say on this life.

The smart choice will always be to minimize the risk and look for a high probability.

I've use to teach before...like private mentoring..and many of the traders that comes along were so blurred and blinded on indicators, lines fibo's etc.

I always tried so hard to teach them how to read the market. I succeeded sometimes..sometimes not.

Reading the market is not price action...I mean..common' that's another foolishness I've been listening lately.....like "oh I am better than you because I read price action and you,re not" that's a bunch of crap in my opinion.


Price is just a tool for entry and exit...that's it

Again, don't worship anything you put on the charts...learn how to read the swings...the market is telling you something...

Some traders I knew when I was a teacher...were trading like a hen running away from a rooster...have you ever see that???

The hen runs like crazy and you see the rooster running behind...oh boy it's hilarious !!!!!!


sooner or later, the rooster goes on top...and the poor hen has no choice but to get down and let the rooster do it's thing.

They don't want to lose! ..they "optimize" their "systems" so it can be "adapted to current market conditions"

yea right...stop been a fool!!! you will have to pay the landlord like any of us!!!

trade relax. Take your time. If there's nothing outhere, don't force the trade.

If you lose, get up, shake yourself and keep walking

If you win....don't get excited...the war is not over you don't have it made yet buddy!!!

I want you to feel bored of trading...very much like working inside a government's office but without the chit-chat.
Peace
  • #162
  • Apr 11, 2008 1:25pm Apr 11, 2008 1:25pm
So you are saying that to be successful in forex is not to be excited about making money. I guess once you are past that then you can focus on becoming the best at what you do without caring about the money, like you are now Feb.

Me and FX have only known eachother for a short while, buy i'm only young and still have plenty left in the tank. I know the road is long and i look forward to the days when i can take a consistent profit from her. But, Feb, should i look forward to these moments or is that making the situation too happy for me? Should i loath FX and think of it as more of a challenge to beat it rather than wanting a sh!t load of cash from her?

Hmmmmmm???
The customer is always right!
  • #163
  • Apr 11, 2008 1:33pm Apr 11, 2008 1:33pm
Quoting Pipfox
So you are saying that to be successful in forex is not to be excited about making money. I guess once you are past that then you can focus on becoming the best at what you do without caring about the money, like you are now Feb.

Me and FX have only known eachother for a short while, buy i'm only young and still have plenty left in the tank. I know the road is long and i look forward to the days when i can take a consistent profit from her. But, Feb, should i look forward to these moments or is that making the situation too happy for me? Should i loath FX and think of it as more of a challenge to beat it rather than wanting a sh!t load of cash from her?

Hmmmmmm???
ok I might pop a bubble here...but here we go

You win...one time...yeah...of course you get excited...it's normal.

Then...let's say..you win a second time....a third time

now you feel like in top of the world...yeah baby

but.......you lose 1


"it's cool" you say

but....you lose again...oh ..what's going on???

then...lets say you win 1 time...things are leveling..right???


but then you lose again......now this feb crap doesn't work...I have to run back to the big mac and RSI


Remember, this is a race...not a sprint
Peace
  • #164
  • Apr 11, 2008 1:47pm Apr 11, 2008 1:47pm
Do you think the EUR/USD is telling us something after a choppy day??
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Peace
  • #165
  • Apr 11, 2008 1:51pm Apr 11, 2008 1:51pm
this is a lil hint to see if anyone can get it
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Peace
  • #166
  • Apr 11, 2008 1:54pm Apr 11, 2008 1:54pm
let's have a lil' fun here
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Peace
  • #167
  • Apr 11, 2008 1:56pm Apr 11, 2008 1:56pm
Quoting feb2865
let's have a lil' fun here

http://www.abload.de/img/myintent925.jpg
  • #168
  • Apr 11, 2008 1:57pm Apr 11, 2008 1:57pm
the last hint
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Peace
  • #169
  • Apr 11, 2008 1:58pm Apr 11, 2008 1:58pm
  • #170
  • Apr 11, 2008 1:59pm Apr 11, 2008 1:59pm
Quoting Waterflame
http://www.abload.de/img/myintent925.jpg
well...finally....hahahahahaha

Excellent job!!!!
Peace
  • #171
  • Apr 11, 2008 2:35pm Apr 11, 2008 2:35pm
feb,

glad to see ya back at it. I really liked your original thread and it taught me a lot in terms of looking for those V-fractal confirmations and waiting to get in on a trade for a better price, outstanding stuff.

In terms of this thread it looks to me as if it is just a simple break-out trade in the direction of the trend. I love these types of trades.

I have been trading the 15M/5M exclusively lately with this method you are describing but I will not enter in the "fake-out" zone which is your preferred point of entry (been burned too many times on the false break-out). I will always enter before it hits the entry point because a lot of the times it is just a penetration then reversal before it actually breaks and runs. After the swing hi and lo points have been determined I watch really closely what happens in between the 62 and 38 fib levels and wait for the price to continue outside of these areas before I enter a position.

I have attached a copy of your previous chart with an edit on it as to where I would have entered a short position. I will get in early and set my stop loss accordingly. If it breaks and runs, great. If it doesn't, I'm still in profit from my early entry if I have to exit at the break-out zone.

Thanks again for returning to the threads.
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trading naked.......
  • #172
  • Apr 11, 2008 2:53pm Apr 11, 2008 2:53pm
Quoting piphitman
feb,

glad to see ya back at it. I really liked your original thread and it taught me a lot in terms of looking for those V-fractal confirmations and waiting to get in on a trade for a better price, outstanding stuff.

In terms of this thread it looks to me as if it is just a simple break-out trade in the direction of the trend. I love these types of trades.

I have been trading the 15M/5M exclusively lately with this method you are describing but I will not enter in the "fake-out" zone which is your preferred point of entry (been burned too many times on the false break-out). I will always enter before it hits the entry point because a lot of the times it is just a penetration then reversal before it actually breaks and runs. After the swing hi and lo points have been determined I watch really closely what happens in between the 62 and 38 fib levels and wait for the price to continue outside of these areas before I enter a position.

I have attached a copy of your previous chart with an edit on it as to where I would have entered a short position. I will get in early and set my stop loss accordingly. If it breaks and runs, great. If it doesn't, I'm still in profit from my early entry if I have to exit at the break-out zone.

Thanks again for returning to the threads.
Thanks a lot!! welcome to the thread

I personally don't advocate Fibonacci as I've been burned long time ago many times with the so famous 61/50 retrracement. I found out thru the years that a trade 2-3 ticks at the top/bottom of the leg, has given me far better results. Like anything is this business, you're going to get burned form time to time, you know that. But I am basing my results from many years of forward-testing.

Also, I have more time (during normal circumstances of course) to evaluate many things before the trade occurs. Like for instance, how far/deep is the pullback, how many cars I should trade, etc. Actually on that trade, I got burned and then I came back and made some dough.

You input is always welcome
Peace
  • #173
  • Apr 11, 2008 3:06pm Apr 11, 2008 3:06pm
here is another example of when I got into the trade "early", in this scenario there was a very nice gradual and very clean price action leading up towards the breakout zone, price just stepped up at each fib level like a ladder but that is not to say that once it got to the breakout zone that it could have decided that it was going to become a double top resistance area and start heading in the other direction. By getting in early I would have been at BE on the worst case scenario.

http://www.forexfactory.com/showpost...&postcount=715
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trading naked.......
  • #174
  • Apr 11, 2008 4:36pm Apr 11, 2008 4:36pm
Simple and effective!
I don't say
  • #175
  • Apr 11, 2008 4:52pm Apr 11, 2008 4:52pm
Quoting feb2865
Look at this chart

tell me....I mean...don't lie to me...if you don't know...please say it


do you need any "indicator" to tell you this market is choppy??

Peace
Hi Feb,

Most people can tell if a market is choppy after the fact. The real issue for many traders is determining you are in a choppy market in real time at the right hand side of the chart. I do agree with you , you don't need many indicators on your charts. Price action used in conjunction with support and resistance lines works very well.
  • #176
  • Apr 12, 2008 1:44am Apr 12, 2008 1:44am
Quoting G33maroon
Feb,

A beatiful thread and a noble one . my hat is off. I wish i understand the simplicity of trading many years back so that i wont need to learn it the hard way.

best regards.
I WILL SECOND THAT GREAT JOB Feb ... i been working with indicators for so long some times they work and most of the times the get you killed

i have been trading naked charts for 4-5 months now almost like you the only differences i use 15min and 1hr charts (just feel more comfe with longer TF)
WHERE were YOU 6YEARS AGO TO POST THIS THREAD YOU WILL HAVE SAVED ME ALOT OF MONEY LOL

GREAT JOB!!!!!!!!!!!
  • #177
  • Apr 14, 2008 3:55am Apr 14, 2008 3:55am
already 108 pips long swing, should one go for more or better not?
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  • #178
  • Apr 14, 2008 4:11am Apr 14, 2008 4:11am
I pick up this trade, fell short of the 20 TP by a point.....

In at 157.38
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  • #179
  • Apr 14, 2008 4:17am Apr 14, 2008 4:17am
sorry, better pic
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  • #180
  • Edited 6:35am Apr 14, 2008 6:27am | Edited 6:35am
i had to do somethig, so i cuold not trade. But looking at M15 Chart EURUSD gives clear trend setup

i wonder if its Ok if one schitches the TF from m5 to h1 if it looks better in the higher TF?
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