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The System II (Yes with irony)

  • #681
  • Edited 10:48am Dec 10, 2008 9:40am | Edited 10:48am
first trade, like clockwork...+23 pips

always a bad omen for me when I do well right out of the chute. Now I'll spend a long time trying to do it again!!! Cause I'm the master of irreproduceable results!

PS THANKS!
Attached Image (click to enlarge)
Click to Enlarge Name: stopped2.gif Size: 16 KB
Isolate yourself from the herd
  • #682
  • Dec 11, 2008 5:59am Dec 11, 2008 5:59am
Quoting forexweasel
first trade, like clockwork...+23 pips

always a bad omen for me when I do well right out of the chute. Now I'll spend a long time trying to do it again!!! Cause I'm the master of irreproduceable results!

PS THANKS!
I know what you mean. When I started trading using this style, my first loss was after a week, and let me tell you, I was happy!! It's weird, but I felt no safe by not experiencing at least a loss, you might loose the habit and become overconfident, which is no good.
  • #683
  • Dec 11, 2008 6:02am Dec 11, 2008 6:02am
Quoting acetrader
I am slowly closing out trading for the yr, but there have been some nice opportunities with the E/$ over the last 4-5 days. Anyone still catching these?

Choppy, but still nice trades within these chops for short term gains.

Best Trades To All.
Hi Acetrader, yes I did
Has not been easy, swing broken by 10,15pips followed by retrace of 61%.... but overall in profit, which is what makes the difference
  • #684
  • Dec 11, 2008 5:31pm Dec 11, 2008 5:31pm
cesare76FX,

I hope you were on board for that ride UP over the last 30 hrs on the E/$. What a nice wave up. I had been long, but when it started chopping & the consolidated I closed out with a small gain. I was in doubt so I got out.
Whats the saying for that "My BAD".

Based on my entry I would have been up over 600 pips on a 2 lot trade.
The really sad part is a trader friend had advised me to lock in gains & trail the move, but I didn't heed his advise & he want tell be how much he made, but I feel he made big.

Win some, lose some. I closed that trade with a nice 36 pips gain.

I hope you captured all of that nice move.

______________________________
  • #685
  • Dec 12, 2008 4:08am Dec 12, 2008 4:08am
Quoting acetrader
cesare76FX,

I hope you were on board for that ride UP over the last 30 hrs on the E/$....

Hi Acetrader, what a few days... I did more or less like you, 45 "shy" pips, which are always great, even if it was a 400pips move, we caught 10%? great!

Today even better, 5min set-up un E/U, trailing stop of 10/15pips manually, and +57pips!!

Here is a chart of my today's trade, I apologize if the text is Italian (..ish), as the chart was meant to go somewhere else, although, it is easy to understand
Attached Image (click to enlarge)
Click to Enlarge Name: chart1.gif Size: 13 KB
  • #686
  • Dec 12, 2008 4:18am Dec 12, 2008 4:18am
Quoting cesare76fx
Hi Acetrader, what a few days... I did more or less like you, 45 "shy" pips, which are always great, even if it was a 400pips move, we caught 10%? great!

Today even better, 5min set-up un E/U, trailing stop of 10/15pips manually, and +57pips!!

Here is a chart of my today's trade, I apologize if the text is Italian (..ish), as the chart was meant to go somewhere else, although, it is easy to understand
Ottimo trade Cesare !

ciao ciao
Skyline
  • #687
  • Dec 12, 2008 4:23am Dec 12, 2008 4:23am
Quoting skyline
Ottimo trade Cesare !

ciao ciao
Skyline
Grazie
  • #688
  • Dec 12, 2008 6:17pm Dec 12, 2008 6:17pm
ceasre76fx

Nice trade for sure. I am out until Jan 09, but will watch from the sideline. I missed my last great trade for year yesterday, but did gain a few anyway.

This is a great system for sure.

Have a great weekend & good trades next week.

Peace To All.
  • #689
  • Dec 14, 2008 6:02am Dec 14, 2008 6:02am
Hello Fellow Traders

As we wait for Feb's return I extracted from his posts bits and pieces of short yet useful information from his years of experience.


I hope that this info enhances your trading.
Attached File(s)
File Type: doc Feb2865.doc   32 KB | 1,149 downloads
Unus pro omnibus, omnes pro uno
  • #690
  • Dec 14, 2008 5:19pm Dec 14, 2008 5:19pm
Hey Feb-

Glad to see you back man! Happy holidays to you and I see you have gathered another nice following as well.

For those of you who are reading this stuff for the first time I encourage you to listen to what is being said in this thread and ask questions as you need to but please please please do not try to over complicate things or bastardize what Feb is attempting to show you here. Make the minor tweaks you need to make it your own system so it fits your personality and trading style but what he is showing you here is all that is needed to become a profitable trader.

Cheers,
Vick
Nothing is impossible, with a willing mind!
  • #691
  • Dec 15, 2008 5:51am Dec 15, 2008 5:51am
Hi Feb,

I have read your entire thread now and I can see lots of traders are doing well with it. I'm looking forward to trading it too.

I have used this type system before and it does work well. I got away from it some time ago because the method I was using required a certain amount of discretion. Yours seems to be more straightforward.

I had intended to move on to this type trading, but got sidetracked again by trying another new and improved indicator. So here I am again, looking to trade PA. I don't want to slam indicators here, because I do believe they have their place. And at times I have done very well with them, but not consistently.

As you mentioned in the beginning, your system is not new, but it works and it is simple and easy. What else can you ask for?

I will see how it works for me.

Thanks for taking the time to help all of us learn.

Please take care of your health, it's your most valuable asset.

Dave
  • #692
  • Dec 15, 2008 6:02am Dec 15, 2008 6:02am
Quoting Trader_V
Hey Feb-

Glad to see you back man! Happy holidays to you and I see you have gathered another nice following as well.

For those of you who are reading this stuff for the first time I encourage you to listen to what is being said in this thread and ask questions as you need to but please please please do not try to over complicate things or bastardize what Feb is attempting to show you here. Make the minor tweaks you need to make it your own system so it fits your personality and trading style but what he is showing you here is all that is needed...
Hi Vick.
I have read the way you trade the 4hr charts (The System).My swing trading system is something in between yours and Feb's.
Do you still trade the same way?
PS:its been a long time since the last time you posted here.hope everything is fine
  • #693
  • Dec 15, 2008 6:28am Dec 15, 2008 6:28am
Hi Dave-

I hope you don't mind me responding to this but I know that a lot of traders have been down the road that you are traveling and please take this for what it is which is a little constructive criticism and some of my own personal experience.

I agree when you say thta indicators have their place. Some folks use indicators in a system which they trade and do very well. But as it has been mentioned this thread is not about indicators but more along how to trade without relying on them. But what makes an indicator based system or any system for that matter successful for any one trader is discipline and consitencey.

And the way to build on that discipline and consitency is through confidence. Having the confidence to know that the system you are trading with will make you profitable in the long run (the perverbial marathon vs sprint mentality). You may have losing days and maybe even losing weeks, but it's the months that will add up and show you the big picture of how you are doing with your trading style.

So my suggestion to you and to anyone who has not yet developed that discipline and consitency is to stick with one system, learn it and practice it until you know it inside and out. Sure you may have to make your own litle minor tweaks to it to make it your own but stick with it. You're gonna have losing trades but don't let that be a reason for you to jump to another system. Give a system the benefit of the doubt before moving on to something new.

Again this is just my insight please don't take it as preaching but rather just a little helpful information

All the best,
Vick

Quoting PistolDave
Hi Feb,

I have read your entire thread now and I can see lots of traders are doing well with it. I'm looking forward to trading it too.

I have used this type system before and it does work well. I got away from it some time ago because the method I was using required a certain amount of discretion. Yours seems to be more straightforward.

I had intended to move on to this type trading, but got sidetracked again by trying another new and improved indicator. So here I am again, looking to trade PA. I don't want to slam indicators here, because...
Nothing is impossible, with a willing mind!
  • #694
  • Dec 15, 2008 6:33am Dec 15, 2008 6:33am
Quoting panos69
Hi Vick.
I have read the way you trade the 4hr charts (The System).My swing trading system is something in between yours and Feb's.
Do you still trade the same way?
PS:its been a long time since the last time you posted here.hope everything is fine
Hi Panos,

Glad to hear you have found your rythym in the markets with your own swing trading flavor

My trading is pretty much the same with only a few minor tweaks. I don't want to start dscussing that info here though unless Feb gives the goahead. It's right inline with all the information presented here but this is Febs thread and I don't want to become an invader of sorts

I have been around and lurking most of the time but didn't see many places worthy of posting if you know what I mean. But I will try to be a little more active moving forward. I may actually have something to contribute at some time

Vick
Nothing is impossible, with a willing mind!
  • #695
  • Dec 15, 2008 7:02am Dec 15, 2008 7:02am
Quoting Trader_V
Hi Dave-

I hope you don't mind me responding to this but I know that a lot of traders have been down the road that you are traveling and please take this for what it is which is a little constructive criticism and some of my own personal experience.

I agree when you say thta indicators have their place. Some folks use indicators in a system which they trade and do very well. But as it has been mentioned this thread is not about indicators but more along how to trade without relying on them. But what makes an indicator based system or any system...
Thanks Vick,

The suggestions you make here are very wise, and I am going down that long hard road to confidence and consistency.
I've gotta say it is taking a bit longer than I expected, tho.

Have a profitable day,
Dave
  • #696
  • Dec 15, 2008 7:36am Dec 15, 2008 7:36am
Pistol Dave,

Welcome aboard Dave. You are not alone on the well traveled road of indicators as we have all traveled it before. Let me just say you can do WITHOUT THEM. I must have looked @ over 400 over the last 20 yrs & NONE ever suited me, but that is not to say they want work for others.

Stick to what FEB is sharing as it is much simpler trading without all those lines. Give PIRCE ACTION a chance & you'll see.

Just my views & nothing more. Only trying to help.

Good Trades
  • #697
  • Dec 15, 2008 7:58am Dec 15, 2008 7:58am
Quoting Trader_V
Hi Panos,

Glad to hear you have found your rythym in the markets with your own swing trading flavor

My trading is pretty much the same with only a few minor tweaks. I don't want to start dscussing that info here though unless Feb gives the goahead. It's right inline with all the information presented here but this is Febs thread and I don't want to become an invader of sorts

I have been around and lurking most of the time but didn't see many places worthy of posting if you know what I mean. But I will try to be a little more active moving...
Thanks Vick.i agree with you.Feb rules here
  • #698
  • Dec 15, 2008 8:14am Dec 15, 2008 8:14am
Hello Fellow Traders,


Here is a fresh swing/pullback and continuation just like Feb likes them.


Have a great day.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 13 KB
Unus pro omnibus, omnes pro uno
  • #699
  • Dec 15, 2008 8:30am Dec 15, 2008 8:30am
Quoting moneda
Hello Fellow Traders

As we wait for Feb's return I extracted from his posts bits and pieces of short yet useful information from his years of experience.


I hope that this info enhances your trading.
Hi cubano .Nice job.
Hope trading treats you well
  • #700
  • Dec 15, 2008 9:20am Dec 15, 2008 9:20am
Quoting panos69
Hi cubano .Nice job.
Hope trading treats you well

Hey Panos,

It has been a while..... trading treating me well? trading Forex is like putting your head in a bucket full of pirahnas...all you need to do is learn how to consistently put your head in the bucket and take it out before you head is chewed off!..... Timing is a biggie. How are you doing? We are all looking forward to Feb's healthy return.

Presently I am focusing on the eur/usd pair. The NY session is bullish today... I picked up a few but presently I am sitting on my hands.... this swing has been going on for a while so I am hesistant to jump in again..waiting for a significant retrace or a new swing the other way.



Hasta la vista
Unus pro omnibus, omnes pro uno
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