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

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The System II (Yes with irony)

  • #361
  • Apr 21, 2008 11:48am Apr 21, 2008 11:48am
Great advice, i have been in the habit of trading fixed stops and progress has been slow. The trailing stops on a 5min TF will quicken the equity pace and make the curve much smoother

Feb, what time of day do you tend to cease taking 5min setups on GU, EU, UCHF?
  • #362
  • Apr 21, 2008 11:56am Apr 21, 2008 11:56am
Quoting ChowClown
Great advice, i have been in the habit of trading fixed stops and progress has been slow. The trailing stops on a 5min TF will quicken the equity pace and make the curve much smoother

Feb, what time of day do you tend to cease taking 5min setups on GU, EU, UCHF?

Chow

I've been only trading E/U on New York session....I trade currency futures and I am looking forward to trade spot forex in order to take advantage on the crosses like GPB/JPY etc.

London session is king in forex. But I have seen nice setups in Asia/Sidney session as well for yen pairs/crosses.
Peace
  • #363
  • Apr 21, 2008 12:04pm Apr 21, 2008 12:04pm
Quoting feb2865
In that particular trade I assume with all respect to moneda, that his limit order didn't get hit so he pick the short side
hmm, so it was actually a long trade and no regular short trade, is that right?
  • #364
  • Apr 21, 2008 12:11pm Apr 21, 2008 12:11pm
Looking for a loser...yes I want for the trade to be a loser

sounds weird isnt??

I have to go for a moment will leave my setups in place

let's see what happens


PD: I made a mistake on the date of the charts..supposed to be 4-21-2008...I guess when you pass 15 years old anything it's possible...LOL
Attached Image (click to enlarge)
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Peace
  • #365
  • Apr 21, 2008 12:12pm Apr 21, 2008 12:12pm
Quoting Wallboroff
hmm, so it was actually a long trade and no regular short trade, is that right?

Yep I assume his long limit order didn't get hit so the natural thing is to look for the other side
Peace
  • #366
  • Apr 21, 2008 12:16pm Apr 21, 2008 12:16pm
Quoting feb2865
Yep I assume his long limit order didn't get hit so the natural thing is to look for the other side
ahhh, alright. thanks for the reply.
  • #367
  • Apr 21, 2008 12:22pm Apr 21, 2008 12:22pm
Quoting feb2865
Looking for a loser...yes I want for the trade to be a loser

sounds weird isnt??

I have to go for a moment will leave my setups in place

let's see what happens


PD: I made a mistake on the date of the charts..supposed to be 4-21-2008...I guess when you pass 15 years old anything it's possible...LOL
...i'm in short EU too...wish i'd taken the cable short though! lol.
  • #368
  • Apr 21, 2008 12:23pm Apr 21, 2008 12:23pm
me too, good luck !
{Promotion Removed}
  • #369
  • Edited 12:42pm Apr 21, 2008 12:29pm | Edited 12:42pm
Quoting feb2865
Looking for a loser...yes I want for the trade to be a loser

sounds weird isnt??

I have to go for a moment will leave my setups in place

let's see what happens


PD: I made a mistake on the date of the charts..supposed to be 4-21-2008...I guess when you pass 15 years old anything it's possible...LOL


i was in too!!! thanks feb! i just took 18.4 pips... traders feeling
i must agree - london session is king
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  • #370
  • Apr 21, 2008 2:06pm Apr 21, 2008 2:06pm
Quoting feb2865
Walboroff

I know moneda will tell you what he did

Just for you records. please leave 2-3 ticks distance on your limit order, form the last swing high . This is in order to avoid as much as possible, double tops and bottoms.

In that particular trade I assume with all respect to moneda, that his limit order didn't get hit so he pick the short side
W. & Feb,

Just got back....I see that W. made it even easier for me to explain my trade...I'll let you guys take a peek at the labyrinth of my mind...

Feb has said in previous post that the best time to catch a swing is at the beginning of a session(NY) so this morning I detected a strong upswing of about 60 pips that started @ around 10:50gmt(6:50am est) however, I was not sure if it was more of a pullback from the major downswing that started @ the London Open(120 pips). Based on that info I decided that the up moves were pullback to that major downswing so that is why I put in the fib on the last long pullback and went short at the breakout of the low (0.0 fib). I really hope that regardless of whether anyone else agrees with my logic, that you now understand my thinking.

Anyway, thanks for forcing me to analyse my entry...it is very educational as long as one is willing to be honest with oneself...
Unus pro omnibus, omnes pro uno
  • #371
  • Apr 21, 2008 3:45pm Apr 21, 2008 3:45pm
Hi feb, excellent way of trading!

I have a question abt the TS you use.

Let's say you are short GU at 1.9868 with stop at 1.9908 (SL 40 pips).
Will you trade the SL pip by pip when it goes in your direction, say it goes to 1.9848 and reverses on you, then you will get stopped out at 1.9888?

Thank's in advance,

PC
Less is more...
  • #372
  • Apr 21, 2008 4:52pm Apr 21, 2008 4:52pm
Tante Grazie a Lei, Skyline. Really nice little EA.
  • #373
  • Apr 21, 2008 5:45pm Apr 21, 2008 5:45pm
Quoting pipcruiser
Hi feb, excellent way of trading!

I have a question abt the TS you use.

Let's say you are short GU at 1.9868 with stop at 1.9908 (SL 40 pips).
Will you trade the SL pip by pip when it goes in your direction, say it goes to 1.9848 and reverses on you, then you will get stopped out at 1.9888?

Thank's in advance,

PC
I'll do it pip by pip
Peace
  • #374
  • Apr 22, 2008 12:06am Apr 22, 2008 12:06am
Quoting feb2865
Looking for a loser...yes I want for the trade to be a loser

sounds weird isnt??

I have to go for a moment will leave my setups in place

let's see what happens


PD: I made a mistake on the date of the charts..supposed to be 4-21-2008...I guess when you pass 15 years old anything it's possible...LOL
Feb, the trade has been a loser like you have said. think the market retrace somewhere near the london close. anyway, i saw several people following you doing this. so care to explain why & what this post for?

regards.

p/s:not to doubt your credibility, its a honest question out of curiousity.
I am bored..
  • #375
  • Apr 22, 2008 12:26am Apr 22, 2008 12:26am
Quoting moneda
W. & Feb,

Just got back....I see that W. made it even easier for me to explain my trade...I'll let you guys take a peek at the labyrinth of my mind...

Feb has said in previous post that the best time to catch a swing is at the beginning of a session(NY) so this morning I detected a strong upswing of about 60 pips that started @ around 10:50gmt(6:50am est) however, I was not sure if it was more of a pullback from the major downswing that started @ the London Open(120 pips). Based on that info I decided that the up moves were pullback to that major downswing so that is why I put in the fib on the last long pullback and went short at the breakout of the low (0.0 fib). I really hope that regardless of whether anyone else agrees with my logic, that you now understand my thinking.

Anyway, thanks for forcing me to analyse my entry...it is very educational as long as one is willing to be honest with oneself...
thanks moneda. now everything starts to make sense.

iŽll be happy to see more of those charts to get a better understanding of trading without indicators.
  • #376
  • Edited 1:48am Apr 22, 2008 1:23am | Edited 1:48am
...GU and EU moving through their 'big ben' sequence atm...watching and waiting for them to break.

Edit: 20 taken on GU.
  • #377
  • Apr 22, 2008 1:48am Apr 22, 2008 1:48am
Sorry for asking this abvious question to most of you guys here. I rarely use EA in my trading but this skyline EA for trailing stop look very interesting to use. I already install it and have the face already.But can sky or anyone else explain this EA . Once the order activated, then the SL=trail stop=25pips and TP=1000pips for all pairs that have order activated?

Again, sorry for this dumb question.
  • #378
  • Apr 22, 2008 4:21am Apr 22, 2008 4:21am
Hi Guys, I just started trading this system recently, and am very pleased with the results. I am happy that this is so simple, and happy how fast profits usually come in. This morning I earned 50 pips without much effort, and very quickly, and that was with incredibly low risk, and I didn't take to much profit. I am still testing things out, but I think I really love this system.

1) It's simple
2) It's consistent
3) It's fast(profits)
4) So many oppurtunities
5) Did I mention it was simple

It may sound weird, but trading with this system is actually kind of fun, as opposed to other systems relying on indicators, this one requires thinking, but it isn't just that, it's just very rewarding when you make pips with this system, but the irony is its so simple....

Once I start formal forward testing I will post results, or charts.

P.S. I do use one indicator, it is called Fibonacci Pivots, it just lays out SL/R levels, it is very reliable, and with a little more practise I will most likely aim for these targets and see how well they work.

Thank You
TheLegace
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #379
  • Apr 22, 2008 4:30am Apr 22, 2008 4:30am
can you show us your trade for today with a picture?

and maybe some comments why you took that one.

thanks
  • #380
  • Apr 22, 2008 5:18am Apr 22, 2008 5:18am
...it's been a good morning so far across GU, EU and UCHF...i'm currently eyeing a short on EU (5min), if the last swing low breaks.
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