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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)

  • #241
  • Apr 17, 2008 3:32am Apr 17, 2008 3:32am
Feb, again i have to thank you for this System. I have the feeling, i'm on the righ way

for targed i took yesterdays top, 19 pips gain
Nice and easy trade
Attached Image
  • #242
  • Apr 17, 2008 6:15am Apr 17, 2008 6:15am
Quoting MJurban
Feb, again i have to thank you for this System. I have the feeling, i'm on the righ way

for targed i took yesterdays top, 19 pips gain
Nice and easy trade
glad I could help
Peace
  • #243
  • Apr 17, 2008 6:17am Apr 17, 2008 6:17am
Quoting feb2865
Seems like the market wants to break higher

Notice it failed to go lower down at the bottom
Nice charts Feb2865, keep it up...
  • #244
  • Apr 17, 2008 7:31am Apr 17, 2008 7:31am
Quoting Aad
Nice charts Feb2865, keep it up...

thanks
Peace
  • #245
  • Apr 17, 2008 9:27am Apr 17, 2008 9:27am
Feb,

Can you clarify something for me? When is a swing a "fresh" swing? Here is what I faced this morning @around 7am est .... an upswing on the Gbp/uds that started at around 8:45gmt with a few short pullbacks followed by some choppy action. So I ask myself... if I see a new swing of over 20 pips within the major upswing going back to 8:45gmt, will it have enough momentum or should I wait for a significant change of direction (downswing)?

Thanks

Look at this chart:
Attached Image (click to enlarge)
Click to Enlarge Name: chart1.gif Size: 28 KB
Unus pro omnibus, omnes pro uno
  • #246
  • Apr 17, 2008 9:54am Apr 17, 2008 9:54am
Quoting moneda
Feb,

Can you clarify something for me? When is a swing a "fresh" swing? Here is what I faced this morning @around 7am est .... an upswing on the Gbp/uds that started at around 8:45gmt with a few short pullbacks followed by some choppy action. So I ask myself... if I see a new swing of over 20 pips within the major upswing going back to 8:45gmt, will it have enough momentum or should I wait for a significant change of direction (downswing)?

Thanks

Look at this chart:
A fresh wing is the first one after the session is open. Doesn't matter what market you trade.


Don't trade momentum. Just trade the move.
Peace
  • #247
  • Apr 17, 2008 9:55am Apr 17, 2008 9:55am
The only way you will qualify a swing is when the pullback is developing. You could get away with a 20 ticks move but in my experience is just noise. Remember, you're trading off 5 minutes charts and there will be noise.
Peace
  • #248
  • Apr 17, 2008 10:19am Apr 17, 2008 10:19am
I believe I mentioned this before somewhere in this thread

Don't jump the gun if you see just 1 bar/candle on the pullback. Wait at least 2 bars to start placing your orders.

This is a high -probability trade

The beauty of this strategy is that in many times you will be saved form the chop. If the market is retracing and goes the other way, then go ahead an look the other way. Dance with the market.

Place your stop a couple of ticks top/bottom of the pullback and trail your stop

If the markets don't meet the conditions for your trade - simply don't trade.

Just look at my last charts...form yesterday

I was ready to pull the trigger down, but I was able to detect the chop monster, while the moving average's were giving you all kinds of signals...I am right???


what happened on the rest of the session??

be the judge
Peace
  • #249
  • Edited 12:47pm Apr 17, 2008 12:33pm | Edited 12:47pm
Feb,

Thanks for the explanation... I am struggling a bit identifying the swing/pullback live...easier when it has already taken place.

One more question....if a pullback of two or more closed candles takes place and price breaks out of it and goes above the previous high/low (our entry point) should we wait for a closed candle? Okay, one more...sorry...I am trying to purge my mind of old stuff.... Did I understand you correctly to say that swings that are less than 30 pips are better left alone?

Much appreciated
Unus pro omnibus, omnes pro uno
  • #250
  • Apr 17, 2008 1:30pm Apr 17, 2008 1:30pm
Quoting moneda
Feb,

Thanks for the explanation... I am struggling a bit identifying the swing/pullback live...easier when it has already taken place.

One more question....if a pullback of two or more closed candles takes place and price breaks out of it and goes above the previous high/low (our entry point) should we wait for a closed candle? Okay, one more...sorry...I am trying to purge my mind of old stuff.... Did I understand you correctly to say that swings that are less than 30 pips are better left alone?



Much appreciated
No waiting. you need to have a order (limit) already in place, IF you see the market moving toward the original swing.

gotta be there before it happens
Peace
  • #251
  • Apr 18, 2008 6:58am Apr 18, 2008 6:58am
Quoting skyline
You're welcome Feb !
And 'grats for your great +21 pips trade

Cheers,
Skyline
Skyline,

I forgot to mention that your trailstop ea is working like a charm. Thank you for sharing

Unus pro omnibus, omnes pro uno
  • #252
  • Apr 18, 2008 7:05am Apr 18, 2008 7:05am
Hello to everyone,

Is anybody interested in posting your charts from trades you have made? I would prefer e/u and the g/u but anything would be educational. I don't want this thread to fizzle out.... Feb will be there for us if we participate.


Thanks.


Here is one that I made this morning...please give me feedback...like they say ...your mind should work like a parachute....only when it opens...
Attached Image (click to enlarge)
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Unus pro omnibus, omnes pro uno
  • #253
  • Apr 18, 2008 7:08am Apr 18, 2008 7:08am
Nice trade moneda!!!\\

I will post a chart very soon

still wakin' up here LOL!!!
Peace
  • #254
  • Apr 18, 2008 7:18am Apr 18, 2008 7:18am
Quoting moneda
Skyline,

I forgot to mention that your trailstop ea is working like a charm. Thank you for sharing

I'm glad it could help to manage your trade
I'm working on a new v3 where I show the open/close hour for each market as you can see in the screenshot , let me know if it could be useful

Rgs,
Skyline
Attached Image (click to enlarge)
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  • #255
  • Apr 18, 2008 7:30am Apr 18, 2008 7:30am
This is my actual setup (triggered just while I'm writing), let's see if it will go lower
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.jpg Size: 126 KB
  • #256
  • Apr 18, 2008 7:31am Apr 18, 2008 7:31am
Hello,

Feb.....thank you for the encouragement (interesting word= in-courage-mind) or something like that

Skyline....Yes, I would like that very much...

did you notice in my chart that I am using the I-ParamonWorkTime indi to do what you are offering to share? A bit primitive ... I have one period from 8gmt to 8:05gmt(london) and one from12gmt to 12:05gmt (US).

Have to go now....have a great day
Unus pro omnibus, omnes pro uno
  • #257
  • Apr 18, 2008 7:34am Apr 18, 2008 7:34am
Quoting moneda
Hello,

Feb.....thank you for the encouragement (interesting word= in-courage-mind) or something like that

Skyline....Yes, I would like that very much...

did you notice in my chart that I am using the I-ParamonWorkTime indi to do what you are offering to share? A bit primitive ... I have one period from 8gmt to 8:05gmt(london) and one from12gmt to 12:05gmt (US).

Have to go now....have a great day
Yes Moned sometimes I used too the i-ParamountWorkTime but I prefer to see some lines with description, it's more clear to read the chart for me
  • #258
  • Apr 18, 2008 7:39am Apr 18, 2008 7:39am
It's option expiration day

the hedge funds are dumping stock big time

a down day probably

I shorted since 5:00 AM...still short EUR/USD
Peace
  • #259
  • Apr 18, 2008 7:40am Apr 18, 2008 7:40am
Sorry...since 4:00 AM
Peace
  • #260
  • Apr 18, 2008 7:46am Apr 18, 2008 7:46am
Quoting feb2865
Sorry...since 4:00 AM
Yes Feb it's impossible to not make money today I can see clearly 3 possible short entries on EURUSD since today's london open, great system Feb !
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