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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)

  • #221
  • Apr 16, 2008 8:28am Apr 16, 2008 8:28am
Quoting MJurban
im waiting to go long on the fgbl
good call
Peace
  • #222
  • Apr 16, 2008 8:32am Apr 16, 2008 8:32am
Quoting MJurban
im waiting to go long on the fgbl
is that an European contract??

excuse my ignorance

what charts are you using???
Peace
  • #223
  • Apr 16, 2008 8:42am Apr 16, 2008 8:42am
Quoting feb2865
is that an European contract??

excuse my ignorance

what charts are you using???
yes , but reatrcement is quite deep now, more then 63% not so good anymore
I dit some backtesting last weekend, normaly the bund has nice and staedy swings.
  • #224
  • Apr 16, 2008 8:45am Apr 16, 2008 8:45am
Quoting MJurban
yes , but reatrcement is quite deep now, more then 63% not so good anymore
I dit some backtesting last weekend, normaly the bund has nice and staedy swings.

Yeah, many times a deep pullback makes the follow thru a weak one. I suggest then look to the short side just in case
Peace
  • #225
  • Edited 8:57am Apr 16, 2008 8:54am | Edited 8:57am
i should have taken this one. Its the mini Dow Jones, is it the YM ?
I hve this Brokeraccount just a couple of days and haven not backtestet the mini dow jones cause it has 3 pips spread. But it looks good right now, what do you think?

The good think with this broker, you can have very small units, like 1 pips (tick) is 0,63 euro
very good to learn and using a real account with real money
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  • #226
  • Apr 16, 2008 9:06am Apr 16, 2008 9:06am
Quoting MJurban
i should have taken this one. Its the mini Dow Jones, is it the YM ?
I hve this Brokeraccount just a couple of days and haven not backtestet the mini dow jones cause it has 3 pips spread. But it looks good right now, what do you think?

The good think with this broker, you can have very small units, like 1 pips (tick) is 0,63 euro
very good to learn and using a real account with real money
be careful with YM

slippage is very common. Swings are kinda large sometimes and makes it difficult to place your risk. Last time I trade it, I had 4 points slippage with only 2 contracts.

what broker are you using if you don't mind asking??
Peace
  • #227
  • Apr 16, 2008 9:26am Apr 16, 2008 9:26am
we had an uptrend form London session, then a cpi report which apparently shaked the market but not too much. I noticed a small failure around 9:00 AM EST and then a series of lower highs afterwards. Then we had a pullback which is somehow deep in my opinion and seems to be that the market is willing to go lower.

Volume in futures has been very light this morning I assume for the spot should be the same. That puts the market in a slow move in my opinion. Still I have a resting order below the fib line...2 ticks...let's see what happens.
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Peace
  • #228
  • Apr 16, 2008 9:28am Apr 16, 2008 9:28am
Quoting feb2865
be careful with YM

slippage is very common. Swings are kinda large sometimes and makes it difficult to place your risk. Last time I trade it, I had 4 points slippage with only 2 contracts.

what broker are you using if you don't mind asking??
the broker is ABN marketindex, it uses the oanda plattform, but u cannot use thie broker in usa cause he has CFD's , CFD's not allowed in usa

i dit this trade but with wrong take profit,
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  • #229
  • Apr 16, 2008 9:36am Apr 16, 2008 9:36am
Quoting MJurban
the broker is ABN marketindex, it uses the oanda plattform, but u cannot use thie broker in usa cause he has CFD's , CFD's not allowed in usa

i dit this trade but with wrong take profit,

ouch!!!!!

what was your target on that trade??
Peace
  • #230
  • Apr 16, 2008 9:41am Apr 16, 2008 9:41am
I am closing out my short resting order

That long candle doesn't make sense to me

smells like we're getting the chop monster ahead
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Peace
  • #231
  • Apr 16, 2008 9:42am Apr 16, 2008 9:42am
Quoting feb2865
ouch!!!!!

what was your target on that trade??
default is 15 pips, i forgot to adjust it when i placed the trade.
its not easy to describe, but when i opend the order window, price was not that high i waited for the break, clicked the order and wantedt to move the target limit in teh righ place. One can do this on directly on the chart. But market was too quick for me. By the way , it reached 537
  • #232
  • Apr 16, 2008 9:45am Apr 16, 2008 9:45am
Quoting MJurban
default is 15 pips, i forgot to adjust it when i placed the trade.
its not easy to describe, but when i opend the order window, price was not that high i waited for the break, clicked the order and wantedt to move the target limit in teh righ place. One can do this on directly on the chart. But market was too quick for me. By the way , it reached 537
can you have a pre-set stop-limit on these charts??
Peace
  • #233
  • Apr 16, 2008 9:50am Apr 16, 2008 9:50am
Quoting feb2865
I am closing out my short resting order

That long candle doesn't make sense to me

smells like we're getting the chop monster ahead

Intersting term, can you explain a little more what a chop monster is?
  • #234
  • Apr 16, 2008 9:50am Apr 16, 2008 9:50am
Quoting feb2865
can you have a pre-set stop-limit on these charts??
no you have this user Preferences window
But if the order is active, you see red line for stop and green line for target. you can very easy drag and drop this lines up or down
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  • #235
  • Apr 16, 2008 9:55am Apr 16, 2008 9:55am
Seems like the market wants to break higher

Notice it failed to go lower down at the bottom
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Peace
  • #236
  • Apr 16, 2008 10:03am Apr 16, 2008 10:03am
Quoting jedsman
Intersting term, can you explain a little more what a chop monster is?

It's something I invented LOL...ok here we go

as you notice I had a resting order 2 ticks bellow the fib line. The swing was good and I had a pullback, kinda deep but I was willing to trade it anyways.

Then at the next chart, there's a long bull candle that screwed the whole downward move. The tendency was to go lower and now we have this candle...out of place.

When that happens, more often than not is and indicative of lack of direction, therefore the chop monster lies ahead. No one is willing to take control of the market

Basic rules on supply and demand applies.
Peace
  • #237
  • Apr 16, 2008 10:07am Apr 16, 2008 10:07am
Here it is....the chop monster


in the flesh
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Peace
  • #238
  • Apr 16, 2008 10:14am Apr 16, 2008 10:14am
Quoting feb2865
Yeah, many times a deep pullback makes the follow thru a weak one. I suggest then look to the short side just in case
u was so very right , i forgot to watch the bund with all this posting, it fell down 40 pips within 3 m5 candles.
If the bund drops, i dont think eurusd will raise much more
  • #239
  • Apr 16, 2008 11:06am Apr 16, 2008 11:06am
Quoting MJurban
u was so very right , i forgot to watch the bund with all this posting, it fell down 40 pips within 3 m5 candles.
If the bund drops, i dont think eurusd will raise much more

I heard there's a strong correlation between the two. I never follow the bund.
Peace
  • #240
  • Apr 16, 2008 11:38am Apr 16, 2008 11:38am
i just open this order GBP/JPY and when i opened it turned the other way LOL
i am hoping to turn back up!
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