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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)

  • #1,121
  • Mar 17, 2009 5:35am Mar 17, 2009 5:35am
Quoting MJurban
thank you for answer, i already was expecting somthing simular.

The 1. Trade early that morning, i think it was a good one,
the 2. right after breackfast , i closed early before SL , dit not like the wicks on the candles.
I will wait for better PA movements
Nice job MJ with the trade and bailout i did the same thing, did not like the wicks candels and exited with +4 pip profit something that i used to never do before. Thanks to Feb for teaching the trade managment.
  • #1,122
  • Mar 17, 2009 5:39am Mar 17, 2009 5:39am
Quoting acetrader
FXachilies,

Nice textbook trade. Thats what I like about The System II....the get in, get it & get out approach it offers. Thanks for the charts you post.
No problem my friend, thats exactly what i like about system II also, and I love how you put it by get in, get it & get out.
  • #1,123
  • Mar 17, 2009 5:49am Mar 17, 2009 5:49am
another good one
http://www.forexfactory.com/images/attach/gif.gif
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  • #1,124
  • Mar 17, 2009 5:58am Mar 17, 2009 5:58am
I got stoped at 3 pip loss but I had the chance to get a easy 20+pip
3/20 I like it.
  • #1,125
  • Mar 17, 2009 6:48am Mar 17, 2009 6:48am
Making 20 pips the other way.
simple trade mangment learned from Feb saved me from losing big insted gaining consisten pips. live examples.
http://www.forexfactory.com/images/attach/gif.gif
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  • #1,126
  • Mar 17, 2009 7:08am Mar 17, 2009 7:08am
one more 20pip tp
http://www.forexfactory.com/images/attach/gif.gif
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  • #1,127
  • Mar 17, 2009 7:26am Mar 17, 2009 7:26am
Quoting fxachilies
one more 20pip tp
http://www.forexfactory.com/images/attach/gif.gif
fxachilies, as I understood your entries was right after the break of the level? what about feb's rule, that we should wait for candle close, when can we ignore the rule and when not?
  • #1,128
  • Mar 17, 2009 9:06am Mar 17, 2009 9:06am
Quoting fxachilies
one more 20pip tp
http://www.forexfactory.com/images/attach/gif.gif
nice trades http://www.forexfactory.com/images/icons/icon14.gif
  • #1,129
  • Mar 17, 2009 9:09am Mar 17, 2009 9:09am
Quoting pwrlexus
fxachilies, as I understood your entries was right after the break of the level? what about feb's rule, that we should wait for candle close, when can we ignore the rule and when not?
we should ask Feb about this, maybee 2 setups. The old and first SystemII entry we entered when break done some pips like 2 or 3 pips

read this, old swing type entry
http://www.forexfactory.com/showpost...9&postcount=28
  • #1,130
  • Mar 17, 2009 10:31am Mar 17, 2009 10:31am
Quoting pwrlexus
fxachilies, as I understood your entries was right after the break of the level? what about feb's rule, that we should wait for candle close, when can we ignore the rule and when not?
Sorry guys i was gone for awhile,
this trade is based on system II, which we enter with 2-3 pips cross of the horizontal line (H.H) or (L.L).
  • #1,131
  • Mar 17, 2009 11:37am Mar 17, 2009 11:37am
Guys

All you do in trading is taking a chance based on possible outcomes. Some people are confused in trading the breakout or the bounce. It's all up to you.

You can be simply a breakout trader. That's fine and profitable.

You can be a contrarian trader. If you have your R:R in check, although looks risky, in reality is not.

Or you can trade both sides of the coin.

Sometimes, the market blasts off a level, leaving you in the dust. That's alright. There will be another bus. Make sure the market show his hands before placing a trade. Some people like to be the first in line to make a move. I do that for scalping and it works but that's another animal. In a slower time frame(5 minutes), sometimes could play against you. If you still wanna go that route, then I advice to have your finger ready for the trigger. Also be prepared for a sudden volatility against your position.

The trick is to minimize risk all the way. Fake outs are impossible to handle. The only way is let the market make his move. Just wait for the bar to close.


Here's a chart of a fake out. Look at the circled area.
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Peace
  • #1,132
  • Mar 17, 2009 1:46pm Mar 17, 2009 1:46pm
Don't dwell too much about this all-so venerable definition of support and resistance on the market has to test x amount of times to be valid blah blah blah crap!.

Although in theory is true, the market will do whatever. I look at a formation called fractals.

Fractals is another generic term that guru's don't get finally into agreement(like many of their stuff). As I am a practical guy, suffice to know that levels (created by fractals) are simply changes on sentiment based on hindsight. Then we use this information as a reference for the future. Looks like V- formations.
Yes the market could test an area many times. Just don't fall into creating a new hidden cult on that.

Check the circled areas on the charts, please.

Thanks
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Peace
  • #1,133
  • Mar 18, 2009 1:31am Mar 18, 2009 1:31am
Thank you for advice.

For this discussion, I will not use the more traditional way of drawing S/R ("... has to text x amount of times...").

Please see attached chart where I have drawn 10 red arrows to show where I think are fractals. Could you confirm whether I am correct? If I further apply the condition that the fractal should ba a 'sharp V formation', then probably only arrows 1, 2, 9 & 10 qualify to be called fractal. Is my understanding correct?

Regards.

Quoting feb2865
Don't dwell too much about this all-so venerable definition of support and resistance on the market has to test x amount of times to be valid blah blah blah crap!.

Although in theory is true, the market will do whatever. I look at a formation called fractals.

Fractals is another generic term that guru's don't get finally into agreement(like many of their stuff). As I am a practical guy, suffice to know that levels (created by fractals) are simply changes on sentiment based on hindsight. Then we use this information as a reference...
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  • #1,134
  • Edited 5:17am Mar 18, 2009 5:07am | Edited 5:17am
1. -9 pips on false break.
2. 50% +14pips, 50% + 5pips after bounce.
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  • #1,135
  • Mar 18, 2009 5:36am Mar 18, 2009 5:36am
Everyone,

I see fractals are coming into the mix now & I'll admit I'm not very farmiliar with how they work except for the basic decription I have read, so maybe one more skilled in the use of them can expand on how they can be of benefit. In the meantime I'm trading the System II using only S&R Levels & how PRICE ACTION REACTS around these levels. Nothing more, NO Indicators. Since I discovered FEB & The System II, I have had much more success than I did previously in my trading as this system cuts thru all the BS you typically see with most Systems or Methods & gives the trader a clear, concise no indicators needed approach to trading in the short term.
Having said that I would like to have a clearer understanding how FRACTALS
might be of benefit to the SYSTEM II. Always willing to learn, but am skeptical of adding more to a mix that is already done & works great.

_____________________________
  • #1,136
  • Mar 18, 2009 12:34pm Mar 18, 2009 12:34pm
I'm out for now, but my 5M chart showing resistance forming @ the 3130 level. Will it hold? Who knows. Any views from the members?
  • #1,137
  • Mar 18, 2009 12:43pm Mar 18, 2009 12:43pm
Quoting acetrader
I'm out for now, but my 5M chart showing resistance forming @ the 3130 level. Will it hold? Who knows. Any views from the members?
Hi Ace,
break or hold either way can't touch it until 1/2 past announcment in my view.
  • #1,138
  • Mar 18, 2009 1:00pm Mar 18, 2009 1:00pm
FXachilies,

That my view as well. Standing by on the side.
  • #1,139
  • Mar 18, 2009 1:20pm Mar 18, 2009 1:20pm
Oh my god, i told you guys its gonna be long for 150 pip in less then a second.... lol unbelivable
  • #1,140
  • Mar 18, 2009 2:07pm Mar 18, 2009 2:07pm
Well 3130 for sure DID NOT HOLD. Took off like a run away train. It paid to heed FEB'S warning to stay out.
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