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

The System (Irony included) 1,175 replies

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The System II (Yes with irony)

  • #981
  • Mar 9, 2009 1:41pm Mar 9, 2009 1:41pm
Thanks ace

Now I am in a full recovery mode, according to doctors. . I feell really grateful. Life is good.. I'll be around more often.
Peace
  • #982
  • Mar 9, 2009 1:42pm Mar 9, 2009 1:42pm
Hi Feb,
I am here and watching everything closley, but i am alittle confused with some of these levels. the one between the new development, i dont get that one, if you could explain i apperciate greatly.
  • #983
  • Mar 9, 2009 1:55pm Mar 9, 2009 1:55pm
fxachilies.

Look at the choppy area - not a clear winner.

A level is formed after a move - a clear one. In my view the level coming from London session stands. In order (my opinion) for a level to be valid, has for form V shape - fractal. If not, you'll get chopiness.

Look at the last two arrows.
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Peace
  • #984
  • Mar 9, 2009 2:21pm Mar 9, 2009 2:21pm
Feb,
Thanks for the explanation. is it valid to trade if the london session level was broken for long?
  • #985
  • Mar 9, 2009 2:27pm Mar 9, 2009 2:27pm
Quoting fxachilies
Feb,
Thanks for the explanation. is it valid to trade if the london session level was broken for long?
If you're talking about the choppy area - yes. But remember, you had a previous long. Just remember - we don't know the outcome of the trade. Anything can happen. Just make sure you have plan A, B ,C and if posible D. Don't let the market drag you down. You call the shots, not the market.

If it happens that you fall into choppyland - it's pertty much a judgment call. I (very subjective, from a scalper's point of view) will probably bail out.
Peace
  • #986
  • Mar 9, 2009 2:32pm Mar 9, 2009 2:32pm
a level was broken.
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Peace
  • #987
  • Mar 9, 2009 2:45pm Mar 9, 2009 2:45pm
A drop - and level holding on the dowside.
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Peace
  • #988
  • Mar 9, 2009 3:06pm Mar 9, 2009 3:06pm
In the last development , here's how you should play that out.

"If the market breaks that level, then I'll be short and my stop loss will be at the last swing candle/bar"

Target/scale out, exit etc. will be at the next level.


BUT


"If the market stop my trade (or I bail out), Then I'll be looking to go long with a traget/scale out/exit etc. at the next level" My stop will be at the last swing candle/bar.

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Peace
  • #989
  • Mar 9, 2009 3:35pm Mar 9, 2009 3:35pm
Feb,
thanks for answer i appericated greatly. I am used to reading the market with indicators such as macd and bollinger band, now i am taking your advise to the heart and trading naked like your style, i appoligize for any not so advance questions i will get the hang of i am a quick learner.

Thanks.
  • #990
  • Mar 9, 2009 4:08pm Mar 9, 2009 4:08pm
Quoting fxachilies
Feb,
thanks for answer i appericated greatly. I am used to reading the market with indicators such as macd and bollinger band, now i am taking your advise to the heart and trading naked like your style, i appoligize for any not so advance questions i will get the hang of i am a quick learner.

Thanks.
no problem - always happy to help!
Peace
  • #991
  • Mar 9, 2009 5:09pm Mar 9, 2009 5:09pm
PHP Code
Looks like level of participation in this thread is low. Anyway, I'll be around if anyone has questions..
HI FEB, FIRST OF ALL, GOOD TO KNOW THAT YOUR HEALTH IS GOING WELL, AND A FASTER RECOVERY TO YOU, I LOVE THIS THREAT AND ALL THE ONES THAT YOU MADE, I TRADE NAKED THANKS TO YOU, AND SORRY IF I DONīT PARTICIPATE AS I SHOULD CAUSE I HAVE A FULL TIME JOB... KEEP POSTING AS LONG YOUR HEALTH ALLOWS, AND I AM SURE MANY PEOPLE APPRECIATE AS I DO... BTW WILL TRY TO BE A BIT MORE ACTIVE IF I HAVE TIME THANKS...
  • #992
  • Mar 9, 2009 8:18pm Mar 9, 2009 8:18pm
i took this short before going to sleep.its on demoaccount cause i was to tired to babysit the trade.
this is 1:1 R/R, but watching the trade, a trailing SL would be better:

1. SL to B/E 1,2610
2. SL to 1.2600 the so called sweetpoint
3. SL to 2,2580 the next sweetpoint
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  • #993
  • Mar 9, 2009 8:26pm Mar 9, 2009 8:26pm
Quoting MJurban
i took this short before going to sleep.its on demoaccount cause i was to tired to babysit the trade.
this is 1:1 R/R, but watching the trade, a trailing SL would be better:

1. SL to B/E 1,2610
2. SL to 1.2600 the so called sweetpoint
3. SL to 2,2580 the next sweetpoint
That sounds like a plan. Please, be careful not to confuse it with the all-so venerable sweetpoints 00 - 25 - 50 -etc - Hocus Pocus in my opinion.
Peace
  • #994
  • Mar 9, 2009 8:45pm Mar 9, 2009 8:45pm
Quoting feb2865
That sounds like a plan. Please, be careful not to confuse it with the all-so venerable sweetpoints 00 - 25 - 50 -etc - Hocus Pocus in my opinion.
ure right , one realy dont need those points cause if they are important, they would be automaticly market by the highs and lows - the fractals -

what do u think about formations like here in the pic the 1-2-3 Low .

And in generel, is it helpfull to watch candle formations like hammers and stars?
The candle formation at the bottom line gives a much earlier etry then the 1-2-3 formation
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  • #995
  • Mar 9, 2009 8:50pm Mar 9, 2009 8:50pm
Hi,

I'm new and I really like this system, how do you know if a pullback is actually just a pullback and not going to be a reversal? If the pullback is more than 50%, do you sit back and wait and see? Do you get in on the next candle going in your direction after 40 - 50%? And finally do you always trail your stop? I find that on the 5 minute TF, that a trailing stop of 20 pips isn't worth it when the pair only fluctuates about 100 pips a day anyways, maybe set a target of 30 to 40 pips with a TS, or just go for the same amount of pips that the first swing gace us?

Anyway, this thread is facinating, and I wish we had a site that we could chat while trading.
Please Feb, keep up the good work and glad to see that you are alright. I actually was filled with sadness when I was reading this thread, about how ill you became, I read it to my family and my wife became quite sad also, our prayers go out to you. Get well soon!

Cheers!
  • #996
  • Mar 9, 2009 9:20pm Mar 9, 2009 9:20pm
Quoting bpenbert
Hi,

I'm new and I really like this system, how do you know if a pullback is actually just a pullback and not going to be a reversal? If the pullback is more than 50%, do you sit back and wait and see? Do you get in on the next candle going in your direction after 40 - 50%? And finally do you always trail your stop? I find that on the 5 minute TF, that a trailing stop of 20 pips isn't worth it when the pair only fluctuates about 100 pips a day anyways, maybe set a target of 30 to 40 pips with a TS, or just go for the same amount of pips that the...
Thanks my friend.

The pullback is just a guide. The most important thing is how you're going to play your trade at the breakout. If you read the last part of this thread, somehow, I am pulling myself off the original post (s) as I am more interested in teach traders how to read the market. I thought about opening up a new thread but I decided to keep this one as I am not that far from the original idea.

I also made the mistake of bringing up my mentality of a hyper - high frecuency trader. That's why I am so agressive with stops. I believe for this slow (for me) time frames, we should give the stops some room.

Here's a good guide for trade management that applies very good to this "system" Please look at post #974.
Peace
  • #997
  • Mar 9, 2009 9:25pm Mar 9, 2009 9:25pm
Quoting MJurban
ure right , one realy dont need those points cause if they are important, they would be automaticly market by the highs and lows - the fractals -

what do u think about formations like here in the pic the 1-2-3 Low .

And in generel, is it helpfull to watch candle formations like hammers and stars?
The candle formation at the bottom line gives a much earlier etry then the 1-2-3 formation
Trading on 1-2-3 formation is completely valid. Or you can play both sides of the breakout. Remember, there's not just one way to skin the cat.
Peace
  • #998
  • Mar 9, 2009 9:27pm Mar 9, 2009 9:27pm
Quoting bpenbert
Hi,

I'm new and I really like this system, how do you know if a pullback is actually just a pullback and not going to be a reversal? If the pullback is more than 50%, do you sit back and wait and see? Do you get in on the next candle going in your direction after 40 - 50%? And finally do you always trail your stop? I find that on the 5 minute TF, that a trailing stop of 20 pips isn't worth it when the pair only fluctuates about 100 pips a day anyways, maybe set a target of 30 to 40 pips with a TS, or just go for the same amount of pips that the...
I sincerely appreciate your concern. Please put me in line on your meditations/prayers and good karma to you and your family.
Peace
  • #999
  • Mar 9, 2009 9:41pm Mar 9, 2009 9:41pm
Quoting MJurban
ure right , one realy dont need those points cause if they are important, they would be automaticly market by the highs and lows - the fractals -

what do u think about formations like here in the pic the 1-2-3 Low .

And in generel, is it helpfull to watch candle formations like hammers and stars?
The candle formation at the bottom line gives a much earlier etry then the 1-2-3 formation
I am sorry, didn't reply to your post completely.

I don't beleive in candle formations. I have candles on the charts because they look pretty. But that's my own--super biased opinion.
Peace
  • #1,000
  • Mar 9, 2009 9:59pm Mar 9, 2009 9:59pm
This is probably the most important chart of the day. I promise, I will let you guys be tonigth, LOL
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Peace
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