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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)

  • #541
  • Apr 26, 2008 3:50am Apr 26, 2008 3:50am
thank you feb .
Very good post, i always had the feeling i should leave the trade as soon as it turns against me but there are the books where it is written: stay to your plan and take the stoploss.
I think spezial in forex eurusd lot of traders sell a new High as a strategy.
Thats what stops a breakout over the top after 10 or 15 pips if there is no further demand fom the market.

This does not happens so often if the swing its the first of the eurosession and the swing is nicely formed with candles up up up ... 30 - 40 pips, a nice retracement not more then 50% , mostly it is exact 50% .
have a nice weekend all
  • #542
  • Apr 26, 2008 4:26am Apr 26, 2008 4:26am
Quoting morton82
Well, i am in this trade already several mins ago. Lets see if this is a winner or loser. SL = 20pips at 1.5609. Entry at 1.5589.
hi is there anyone out there can help me with this pro.
from the chart i view thats not an entry for feb method cause the trend never retrace at all am i right with that?
unless u r trading with the breakout system then thats seems ok for me.am i right
another thing how much do i need for the trend to run before it retrace and gif me an entry point how many pips
i hope i make myself clear with this.thanks
  • #543
  • Apr 26, 2008 12:41pm Apr 26, 2008 12:41pm
Quoting stan88
hi is there anyone out there can help me with this pro.
from the chart i view thats not an entry for feb method cause the trend never retrace at all am i right with that?
unless u r trading with the breakout system then thats seems ok for me.am i right
another thing how much do i need for the trend to run before it retrace and gif me an entry point how many pips
i hope i make myself clear with this.thanks
on post #501 Moneda made a good summary ..

Post #22 talks about the swings and how do we qualify them
Peace
  • #544
  • Apr 27, 2008 4:08pm Apr 27, 2008 4:08pm
Interesting post Feb2865, I usually try to use a 50pip stop loss and Jacko's Anti-Hedging strategy but the works best when following the major trend...
  • #545
  • Apr 28, 2008 2:50pm Apr 28, 2008 2:50pm
Guys

we gather every day at the trading room. Some of the guys are ther earlier...I assume during london session and beyond. I trade New York session ony so I' am always around 7:30 - 8:00 AM EST.

Still if you have any questiosn, don't hesitate to ask here.
Peace
  • #546
  • Apr 29, 2008 5:48am Apr 29, 2008 5:48am
Feb, how do we get access to that room?
I have installed the software and made an account, but still cannot enter.
Is it a private room?
Persistence will get it. Consistency will keep it.
  • #547
  • Apr 29, 2008 5:50am Apr 29, 2008 5:50am
Quoting Reas
Feb, how do we get access to that room?
I have installed the software and made an account, but still cannot enter.
Is it a private room?
It's under Community rooms, listed as SystemII.

I check it out every now and then. Nice to see traders helping traders.
  • #548
  • Apr 29, 2008 12:01pm Apr 29, 2008 12:01pm
Feb or whomever....Do you generally favor closing out your trades at the 21 pip TP or to let them run and just be stopped with this method....in general.

Thanks
  • #549
  • Apr 29, 2008 12:58pm Apr 29, 2008 12:58pm
Quoting Dave59
Feb or whomever....Do you generally favor closing out your trades at the 21 pip TP or to let them run and just be stopped with this method....in general.

Thanks

You could either scale out some @ 21 and let the rest run. Or simple all out @ 21. Just remember that if you're scaling out the risk of loss is increased proportionally.

I personally don't scale out...just a personal preference..I rather trail my stop and let the market do whatever..
Peace
  • #550
  • May 5, 2008 5:23am May 5, 2008 5:23am
im still working on the close , i dont realy know whats best strategy.

i find that closing a trade is much more difficult than to enter in a trade.
Maybe today is not a good tradingday caus of UK bankholiday, the spread on eurusd at oanda is 2 pips insted of 1.

The 2 shorts i took this morning was because of a new high, almost 1.5500 (5499 at oanda)
The 1. short i closed with 6 pip when price reached the supportzone 5475-5478. At least this one looks OK on the chart

The 2. short broke down 8 pips but i waited till a green candle gave warning, the short could be at the end.
I dont know, better to take let say 5 or 6 pips , or wait for close signal and have 1 or none pip ?
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  • #551
  • May 5, 2008 8:29am May 5, 2008 8:29am
i shurely had longs too on eurusd, same story with the exit
The 1. and 2. Trade was OK but the 3. i closed to early, afraid to lose anather trade ? i dont know but i will be more concentrated the next time
The 4. trade was almost perfect exit.
Attached Images
  • #552
  • May 5, 2008 10:54am May 5, 2008 10:54am
Quoting MJurban
i shurely had longs too on eurusd, same story with the exit
The 1. and 2. Trade was OK but the 3. i closed to early, afraid to lose anather trade ? i dont know but i will be more concentrated the next time
The 4. trade was almost perfect exit.

1. never change rules, NEVER (just MM)
2. swings wasn't greater than 35 pips
3. i would enter only in 1 st trade, but looking on your charts i would have -4 pips.so?? deal with losses.

look for A+ trades with high probability.
i added picture for better understanding. if any questions , just ask.
I believe this system could give 10% per week. after 2 strikes i'm out. same as Feb

sorry my english

P.s. forex IS boring
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  • #553
  • May 5, 2008 11:54am May 5, 2008 11:54am
Quoting sphinx
look for A+ trades with high probability.
i added picture for better understanding. if any questions , just ask.
I believe this system could give 10% per week. after 2 strikes i'm out. same as Feb

sorry my english

P.s. forex IS boring
hi sphinx,
what do you mean by A+ trades?
  • #554
  • May 5, 2008 1:27pm May 5, 2008 1:27pm
Quoting MJurban
hi sphinx,
what do you mean by A+ trades?
1. when sessions overlap
2. pullback about 1/4 or 1/3 from swing (deeper the pullback lower the possibility)

just read out carefully one more time this tread from page 1 to 10.

i'll try to post some posts tomorrow
kind regards
  • #555
  • May 12, 2008 9:38am May 12, 2008 9:38am
Here is a trade I placed on a demo today. In at the red checkmark, out at the yellow checkmark. Thanks for the great thread Feb. The exit was also a double top from earlier in the day.
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  • #556
  • May 12, 2008 9:09pm May 12, 2008 9:09pm
Quoting davema
Here is a trade I placed on a demo today. In at the red checkmark, out at the yellow checkmark. Thanks for the great thread Feb. The exit was also a double top from earlier in the day.
no problem

Always happy to help


Listen guys - we're always on tradingrooms.com/tradingrooms/community trading rooms/System II. I personally sign in every morning around 8:00 AM EST Some of the guys are on by London session

I still peek around here in case you have questions..
Peace
  • #557
  • May 16, 2008 11:26am May 16, 2008 11:26am
Hi Feb,
I'm glad to see your still around, i was reading the original thread (system 1) and noticed nobody had posted in there for awhile,
Then i noticed this thread and have been trying to catch up.
  • #558
  • May 16, 2008 12:57pm May 16, 2008 12:57pm
Hello

System 1 is more like a long-term, position trading style of trading. Here is more fast and hard. It's all up to the trader. I have the tendency of let threads die as I beleive everyone has no more questions/concerns. But I still lurke around. I get plenty of PM's as well.

You could also reach me at tradingrooms.com comunitytrading/system II every morning around 8:00 AM EST.

Still if anyone have any doubts or corcerns etc. feel free to post here..I'll do my best to help.
Peace
  • #559
  • May 24, 2008 5:29am May 24, 2008 5:29am
Hello,

If you want to practice Feb's approach this trade simulator will speed up the learning curve without risking your $$$.... it is different than plain backtesting in that you will be watching price action as if it was live and you can control the speed of it. Only for MT4. The link below will have everything you need. Good downtime training tool.

See you Tuesday.

http://www.forexfactory.com/showthread.php?t=70742
Unus pro omnibus, omnes pro uno
  • #560
  • May 24, 2008 11:16am May 24, 2008 11:16am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Cheers moneda...

I'm doing this already, but it's good to have a reminder for those who are unaware of the flexibility of MT4.

Although, I've been looking back at EUR/USD on 5-min. Only goes back to 4th December 2007 on NorthFinance. I've set max bars in history etc as high as I can. But this is it. Do other MT4 brokers go back further than this?


Magnus
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