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The System II (Yes with irony)

  • #961
  • Mar 8, 2009 8:35am Mar 8, 2009 8:35am
Quoting TradeStar
BTW, Belated B'Day wishes, Feb (assuming my interpretation of your user name is correct ).

TS
rigth on!!
Peace
  • #962
  • Edited 9:45am Mar 9, 2009 9:35am | Edited 9:45am
Quoting feb2865
Watching PA around the levels - that's a true definition of price action.

As I mentioned in one of my post - you just need a couple of horizontal lines to trade. You know, I prefer to know what I'm doing instead of relying on and indicator with an on/off switch.

Islander, this is a solid post. Please come around at anytime and give us your thoughts.
hello feb,

great posts, i like it very much and i try to follow ure advices.
Thats the way i would like to trade but its very hard for me to do.
( i,m in profit after all, thats not the problem but the profits are very smal cause i close trades wáy way to early like a chicken)

My big problem is not the entry but the exit of a trade. The more profits i made that day, the more i'm afraid to give it back to the market and thats what makes me very unhappy and keeps me from taking new trades. (exuse my bad english i think u understand what im talking about).
Can you just explain or give some tips about exits, stoploss, when do you diside to leave a trade cause i does not suits ure plan?

Edit , put a pic
i m short in this trade, its against the trend, what can i acpect as profit, what ist the stoploss how much room for the trade?
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  • #963
  • Mar 9, 2009 10:08am Mar 9, 2009 10:08am
If you went short against the grin. I would look at the following levels for an exit play.

Please see the charts.
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Peace
  • #964
  • Mar 9, 2009 10:36am Mar 9, 2009 10:36am
Quoting feb2865
If you went short against the grin. I would look at the following levels for an exit play.

Please see the charts.
thx for answer,

i closed this last trade with 5 pips profit cause it was up to 8 pips and i dont want it to turn to a looser. Maybee that was wrong cause on H1 its a good place for a short its 50% reatracement from the last down swing.
Now i wait for the next fractal or failure
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  • #965
  • Mar 9, 2009 11:14am Mar 9, 2009 11:14am
I see volume drying up pretty much across the board - be careful. Bulls migth take over.
Peace
  • #966
  • Mar 9, 2009 11:24am Mar 9, 2009 11:24am
Here's a chart with levels coming from London Session.

Please take a closer look on the arrows.
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Peace
  • #967
  • Mar 9, 2009 11:31am Mar 9, 2009 11:31am
Here's a trading "system" based on the last charts.

Pay close attention at the elipse.

I am not done yet.
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Peace
  • #968
  • Mar 9, 2009 11:37am Mar 9, 2009 11:37am
Oh yeah baby...we got stopped...

what do we do know??? call Batman or Robin???which one??
Peace
  • #969
  • Mar 9, 2009 11:40am Mar 9, 2009 11:40am
I forgot the charts LOL!

Remember, we're still looking to go long. Just imagine anthing after the elipse hasn't happened yet.
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Peace
  • #970
  • Mar 9, 2009 11:48am Mar 9, 2009 11:48am
Quoting feb2865
I see volume drying up pretty much across the board - be careful. Bulls migth take over.
i took this short and closed with 17 pips. To early? Should one better trail the SL. The PA looks like crab at the moment.

Is thats what u teaching here Feb or is it against it?
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  • #971
  • Mar 9, 2009 11:48am Mar 9, 2009 11:48am
Now the rest a matter of simple obervation on the levels.
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Peace
  • #972
  • Mar 9, 2009 11:51am Mar 9, 2009 11:51am
Quoting MJurban
i took this short and closed with 17 pips. To early? Should one better trail the SL. The PA looks like crab at the moment.

Is thats what u teaching here Feb or is it against it?
I made an observation based on futures. But there's no need to go farther beyond the charts. I tend to look at futures but is just my thing, not necessary for trading the spot.
Peace
  • #973
  • Mar 9, 2009 11:52am Mar 9, 2009 11:52am
Quoting MJurban
i took this short and closed with 17 pips. To early? Should one better trail the SL. The PA looks like crab at the moment.

Is thats what u teaching here Feb or is it against it?
It was a nice trade MJ - trading against the grin is valid.
Peace
  • #974
  • Mar 9, 2009 11:57am Mar 9, 2009 11:57am
MJ

you can trail your stop at x distance form the levels. Then move it to B/E after x amount of pips.

Like, for instance, you have a stop loss of 20 pips. The distance from entry to the level is 40 pips . You can trail your stop @ breakeven + spread when the market has moved 20 pips. Then you have a free ride all the way to 40 pips . 2:1 R/R sweet ride. This is just an example, of course not all trades are going to be smooth, you know.
Peace
  • #975
  • Mar 9, 2009 12:16pm Mar 9, 2009 12:16pm
A level will hold or fail. You job is to be prepared for both - remember - "if" and "then".

Look at the charts.
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Peace
  • #976
  • Mar 9, 2009 12:23pm Mar 9, 2009 12:23pm
Feb.

I know you have mentioned somewhere that you look at the futures to trade stocks in the past. It is advisable to look at Futures volume to trade cash?

Thanks.
  • #977
  • Mar 9, 2009 12:57pm Mar 9, 2009 12:57pm
New Dvelpoment.
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Peace
  • #978
  • Mar 9, 2009 1:13pm Mar 9, 2009 1:13pm
Quoting wp3vv
Feb.

I know you have mentioned somewhere that you look at the futures to trade stocks in the past. It is advisable to look at Futures volume to trade cash?

Thanks.
short answer - no.
Peace
  • #979
  • Mar 9, 2009 1:17pm Mar 9, 2009 1:17pm
Looks like level of participation in this thread is low. Anyway, I'll be around if anyone has questions..

Happy Trading.
Peace
  • #980
  • Mar 9, 2009 1:30pm Mar 9, 2009 1:30pm
Hi FEB,

It is good to see your back @ it full steam ahead. I really enjoy your charts.
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