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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)

  • #601
  • Nov 12, 2008 3:19am Nov 12, 2008 3:19am
I don't know if could be of some help, but I developed a little indicator to be used with Feb's trading system. Basically it should be used with bars charts (no candlestick) and it will paint each bar with one of this color (adjustable) :

1) purple bar : means current bar has higher high and higher low than previous one (on the left)
2) coral bar : means current bar has lower high and lower low than previous one (on the left)
3) yellow bar : means current bar isn't in any of case 1) nor 2) thus it's an inside bar or an outside bar related to previous candle (on the left).

In this way I think it's more easy to spot visually the swing/pullback/entry

In attachment you will find too the template with Bars Trend v1

Hope it helps

Cheers,
Skyline
Attached Image (click to enlarge)
Click to Enlarge Name: febexample.jpg Size: 103 KB
Attached File(s)
File Type: tpl barstrend template.tpl   1 KB | 911 downloads
File Type: ex4 BarsTrend v1.ex4   4 KB | 1,149 downloads
  • #602
  • Edited 4:29am Nov 12, 2008 4:09am | Edited 4:29am
My current setup triggered right now at 1.2525 , sl and trailstop is 30 pips....

Edit : stopped out with -25 pips loss
Attached Image (click to enlarge)
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  • #603
  • Nov 12, 2008 4:31am Nov 12, 2008 4:31am
ciao skyline
grazie per l'indicatore
i had the same entry and 30 pip trailing stop . and it hit stop loss . with this method or i am so unlucky . or i am missing something , the ratio of wining trades is very low .
  • #604
  • Nov 12, 2008 4:41am Nov 12, 2008 4:41am
Quoting imad
ciao skyline
grazie per l'indicatore
i had the same entry and 30 pip trailing stop . and it hit stop loss . with this method or i am so unlucky . or i am missing something , the ratio of wining trades is very low .
Prego Imad
As Feb said using a trailingstop our win/loss ratio will lower, but this is not so important to be profitable in the long run , infact he was able to close a month in profit even with a 28% win ratio , so we have to be patient , forget losses and focus on next setup

ciao ciao
Skyline
  • #605
  • Nov 12, 2008 4:59am Nov 12, 2008 4:59am
Another nice geppy trade, good for 200+ pips so far.

I also took the EU short, my stop is at 2560 and has not hit yet

Not looking good for this one though. There is a pinbar on the 4hr so it could still move down.

Up 340 pips so far today, not a bad system
Attached Image
  • #606
  • Nov 12, 2008 5:07am Nov 12, 2008 5:07am
Quoting NuckingFuts
Another nice geppy trade, good for 200+ pips so far.

I also took the EU short, my stop is at 2560 and has not hit yet

Not looking good for this one though. There is a pinbar on the 4hr so it could still move down.

Up 340 pips so far today, not a bad system
Great trade NF !
  • #607
  • Nov 12, 2008 5:20am Nov 12, 2008 5:20am
Quoting imad
ciao skyline
grazie per l'indicatore
i had the same entry and 30 pip trailing stop . and it hit stop loss . with this method or i am so unlucky . or i am missing something , the ratio of wining trades is very low .
IMO the EU trade was not an A+++ trade (still took it though). The initial move down was 100 pips which is a decent move for this baby. It could be losing the steam it needs to push lower. By the looks of things we're now forming a falling wedge.

I prefer to use the price action for setting stops, instead of the 20-30 pip hard stop. Placing a stop above the high of the pull back means the set-up must invalidate (i.e. make a higher high) before you're stopped out.

Just do what Feb says and adjust your position size to allow for the larger stop in these cases.

A better set-up was my geppy trade. It was not quite A+++ IMO as the price didn't make a lower low. It had however broken the trend line of the prior up move (see my chart)

I see we've now moved lower, closed my EU short for +10 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: feb_geppy3.png Size: 3 KB
  • #608
  • Nov 12, 2008 5:39am Nov 12, 2008 5:39am
Quoting skyline
Great trade NF !
Thanks mate

This system is excellent, maybe because it's so similar to my own

I find if you wait for the best set-ups, the win ratio is well over 50%.

I see the EU trade would've had a better entry around 1.2589.

If I can add to Feb's recommendations for the pullback (at least 2-3 bars from memory), I would also add that a period of consolidation is just as good, if not better.
Attached Image (click to enlarge)
Click to Enlarge Name: feb_eu2.png Size: 4 KB
  • #609
  • Nov 12, 2008 5:51am Nov 12, 2008 5:51am
Guys

I'm really glad this thread is alive and kicking. Last time I spoke with feb's on the phone I mentioned about this thread. He's very happy for you guys. I am going to visit him over this weekend to have a better assessment on his condition.

I'll keep you guys posted.

Cheers.
  • #610
  • Nov 12, 2008 5:52am Nov 12, 2008 5:52am
Quoting imad
ciao skyline
grazie per l'indicatore
i had the same entry and 30 pip trailing stop . and it hit stop loss . with this method or i am so unlucky . or i am missing something , the ratio of wining trades is very low .
just my personal preference, if i get a swing too large or a pull back too deep, i will be extra careful. be selective. dont trade every top and bottom. 1st swing of the session normally is safer.

30 pips should be okay for eurusd. choose what pair you are trading. for the time being, avoid yen pair or gbpusd. if you get use to it, maybe then you can look into other things.

cheers

p/s: nomoretoxic, keep posting news
I am bored..
  • #611
  • Nov 12, 2008 5:54am Nov 12, 2008 5:54am
Quoting NuckingFuts
Thanks mate

This system is excellent, maybe because it's so similar to my own

I find if you wait for the best set-ups, the win ratio is well over 50%.

I see the EU trade would've had a better entry around 1.2589.

If I can add to Feb's recommendations for the pullback (at least 2-3 bars from memory), I would also add that a period of consolidation is just as good, if not better.
Yes absolutely , I see too that trade but I wasn't able to enter it before because I was driving my car from home to office
  • #612
  • Nov 12, 2008 6:03am Nov 12, 2008 6:03am
Quoting nomoretoxic
Guys

I'm really glad this thread is alive and kicking. Last time I spoke with feb's on the phone I mentioned about this thread. He's very happy for you guys. I am going to visit him over this weekend to have a better assessment on his condition.

I'll keep you guys posted.

Cheers.
Thanks nomore.

I wish Feb all the best and hope he has a quick recovery.

I can't believe his system has been an improvement of my own method.

You'll have to tell him great minds think alike

My mind is not so great though
  • #613
  • Nov 12, 2008 6:05am Nov 12, 2008 6:05am
NF, 200++ pips are excellent
I am bored..
  • #614
  • Nov 12, 2008 6:07am Nov 12, 2008 6:07am
Quoting G33maroon
just my personal preference, if i get a swing too large or a pull back too deep, i will be extra careful. be selective. dont trade every top and bottom. 1st swing of the session normally is safer.

30 pips should be okay for eurusd. choose what pair you are trading. for the time being, avoid yen pair or gbpusd. if you get use to it, maybe then you can look into other things.

cheers

p/s: nomoretoxic, keep posting news
Yes, on the EU especially.

I like to get in after the first swing (generally the 2nd move or 3rd wave for EW'ers).

Geppy is great to trade, you just need plenty of patience pills and let the set-ups prove you wrong (or right!!).

EDIT: But yes, not a pair to learn the ropes on that's for sure!!
  • #615
  • Nov 12, 2008 6:15am Nov 12, 2008 6:15am
Quoting G33maroon
NF, 200++ pips are excellent
Cheers mate

Stopped out at +230.

Early night for me, will be back for the Aussie/Asian session

G'nite all, and a good morning/afternoon/evening to you all not in Oz land!

Yes, I'm from Australia
  • #616
  • Edited 6:39am Nov 12, 2008 6:21am | Edited 6:39am
hehe i just entered this one. not a great one. let see how it goes

EDIT: Lose! hehe
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I am bored..
  • #617
  • Nov 13, 2008 4:39am Nov 13, 2008 4:39am
Hi FEB & Everyone,

This is really a great system that FEB has shared with everyone. In all years of trading this has got to be the best & it is clutter free. Over the years I have given up on most indicators as they never really worked for me with the exception of RSI. That is not to say they want work for someone else.

I have just finished reading the thread & will put the system in use next week. Currently using a method for med-longer term trades, but this is really appealing to me.

Skyline.....nice Bar Trends indicator that compliments the system. I sent
you a PM, but it seems my PM capabilities are not working @ the moment. When time allows let me know if your did respond. Thanks.

FEB...if you are following along while getting well......Thanks for sharing a great system & I wish you a speedy recovery.

Out for now.....best of trades to all & a good day.

____________

AceTrader
  • #618
  • Nov 14, 2008 12:12am Nov 14, 2008 12:12am
Quoting panos69
Hi.
Feb had serious health problems and i havent heard of him a long time now.
He also hasnt answered the PM i sent him.
Lets all hope he is allright
His systems are all a trader needs to know in my humble opinion...
Real diamonds in the forum.
i still trade the 5min breakout in conjuction with pivot points especially when the longer time frames are in consolidation
I'm sorry to hear about this, I hope Feb continues to get better.

By the way folks it's time to give this thread a rating so vote...
  • #619
  • Nov 14, 2008 6:26am Nov 14, 2008 6:26am
Quoting Aad
I'm sorry to hear about this, I hope Feb continues to get better.

By the way folks it's time to give this thread a rating so vote...

You are right, 5 star from me
  • #620
  • Nov 15, 2008 6:56am Nov 15, 2008 6:56am
I give this thread a FIVE STAR vote. I know FEB is having health problems, but what has happened to all those good traders that had posted their ideas & views......"LETS NOT LET FEB DOWN WHILE HE IS RECOVERING".

As stated in my previous post I will give this method a go next week, but from reviewing some charts this seems to be a spot on system. Concise & clutter free on the chart.

I'm not much for posting charts, but I'll try.

Low tech kind of guy.

I have traded for many years & FEB's system is @ the top of my list for offering the new trader a clear system on how to trade. Other good sources that come to mind are the Jacko's & James 16 threads & there are others, but these stand out.

My current method is similar to Jacko's & has some of James16 mixed in using trendlines, pivots, fibs & a dose of Murrey Math for medium to longer term trades. But, the bottom line is what is PRICE DOING IN RELATION TO ALL OF THESE TOOLS?

I will be using the FEB SYSTEM for shorter term trades while I'm being bored with the longer term trades............... I don't really mind the screen time.

Those that are currently using FEBS SYSTEM, keep the thread going as there has been much valuable info posted so far & it would be ashame to let it end.

FEB.....I wish you a speedy recovery.

Best trades to all.

________________________
AceTrader



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