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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)

  • #1,141
  • Mar 18, 2009 5:49pm Mar 18, 2009 5:49pm
Hi Feb,

I wish I'd heard about the news thing, that got me big time, I had my account at 106K, and got margined out and lost 55K. I thought that I was bullet proof and just let price decline (E/U and A/U) and of course they went the other way big time. It is an extremely hard lesson to learn, but I will now ALWAYS USE STOPS!
My question is; where do you get your news and when do you stop trading? I'm wondering since you avoid these major moves and I always seem to hit them, or they seem to hit me.

One last question do you use fractals in your systemII?

PS: How is your health?

Cheers!
  • #1,142
  • Mar 18, 2009 6:34pm Mar 18, 2009 6:34pm
Sorry guys, I just took the day off. I didn't like what I saw this morning on the market and I had a pile of personal stuff to do. I finally got to drive my truck and oh boy! so much stuff behind it's unbelievable!

About fractals - just take the one you can see a well defined V-Formation. The fractals are the one's who actually form the levels. Don't consider any hiccup a fractal .Don't dwell into this all-so-deep definitions and systems outhere. The info you'll find on the net is mostly useless, very much biased.

Go to my journal and take note on the levels I put every morning. Use that as a guide.
Peace
  • #1,143
  • Mar 18, 2009 6:39pm Mar 18, 2009 6:39pm
Quoting bpenbert
Hi Feb,

I wish I'd heard about the news thing, that got me big time, I had my account at 106K, and got margined out and lost 55K. I thought that I was bullet proof and just let price decline (E/U and A/U) and of course they went the other way big time. It is an extremely hard lesson to learn, but I will now ALWAYS USE STOPS!
My question is; where do you get your news and when do you stop trading? I'm wondering since you avoid these major moves and I always seem to hit them, or they seem to hit me.

One last question do you use fractals in your...
I use econoday calendar. As to when do I stop trading, I think that comes from all screw-ups I had in 28 years LOL. You just get a "feel" of what's going on.

My health is improving. I still use a cane but at least the doc let me drive. Thanks for asking my friend!
Peace
  • #1,144
  • Mar 19, 2009 6:38am Mar 19, 2009 6:38am
Early morning London session trading.
good one i had with G/U, textbook break of H.H swing
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  • #1,145
  • Mar 19, 2009 6:42am Mar 19, 2009 6:42am
currently have this one going on
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  • #1,146
  • Mar 20, 2009 7:23pm Mar 20, 2009 7:23pm
Hi feb2865
Like so many others I am very thankful that you have shared your views and insights with those of us that are interested in developing our own skills in interpreting what we see directly on the charts instead of following squiggly lines telling us what happened before.
Removing all indicators has given me a feeling of liberation.
Your plain simple approach when explaining your thoughts, with no gobbldy-gook nonsence, is a breath of fresh air(Irony always enjoyed).

I have read and re-read both systems 1 & 11, drawn lots of lines determining SR levels and am starting to feel quite comfortable with how I see them forming. I hope you and the other regular contributors don’t mind if I post a question or two when I have something worth asking. I assure you I’ll try and formulate it correctly

Happy Trading mm3934
  • #1,147
  • Mar 23, 2009 4:23am Mar 23, 2009 4:23am
Support break. Enter 1 pip below break candle. Closed 50% on next Support +20 pips, rest 50% trailed with 20 pips, position closed on +22 pips.
I hope I'm doing it according to feb's system, don't want to cofuse anybody, still learn to trade. I only added fibo with 0/50/100 levels from previous day's low to high and 1 more pink line - is today open price. The levels also act as support resistance pretty often. No more indicators.
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  • #1,148
  • Mar 23, 2009 6:17am Mar 23, 2009 6:17am
this is how i traded this morning, 5 tp's 20 pip each, 1:1 risk. nice and simple.
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  • #1,149
  • Mar 23, 2009 10:04am Mar 23, 2009 10:04am
Quoting fxachilies
this is how i traded this morning, 5 tp's 20 pip each, 1:1 risk. nice and simple.
http://www.forexfactory.com/images/attach/gif.gif
Congratulations on your trades .
I am a recent feb convert , have read it all and see you use a trade EA I
assume . Is that the one by Skyline or another ? Would you mind posting
what settings you use and how start it . I have it in my experts folder but
not having any joy getting it to work . Thanks
  • #1,150
  • Mar 23, 2009 12:44pm Mar 23, 2009 12:44pm
Quoting glass
Congratulations on your trades .
I am a recent feb convert , have read it all and see you use a trade EA I
assume . Is that the one by Skyline or another ? Would you mind posting
what settings you use and how start it . I have it in my experts folder but
not having any joy getting it to work . Thanks
hello my friend,
I dont use a EA and i dont like it. all my trades are manually done and i babysit them with a tight trade managment, I'll try very hard to secure my 20 pip profit but give it chance to get more unless it jepordizes my 20.
  • #1,151
  • Mar 23, 2009 9:36pm Mar 23, 2009 9:36pm
Quoting fxachilies
this is how i traded this morning, 5 tp's 20 pip each, 1:1 risk. nice and simple.
http://www.forexfactory.com/images/attach/gif.gif
fxachilies:

Great trades - one question: r u looking for a minimum range of pips before establishing support / resistance lines? Thanks
  • #1,152
  • Mar 24, 2009 3:41am Mar 24, 2009 3:41am
Quoting ming0168
fxachilies:

Great trades - one question: r u looking for a minimum range of pips before establishing support / resistance lines? Thanks
Hi Ming,
I do not care about sup/res lines or round numbers or any of that, I keep it simple like feb, when market makes a move i spot a qualified swing then spot a qualified pullback then pull the trigger then babysit it with a very tight trade management and keep a 20/20 rule on back of my head. I trail stop manually and only trade eur/usd and gbp/usd verses before that i traded all majors. In yesterdays case I was luck to secure atleast the 20 pip profit nice and clean, most days are a fight and i secure only 5 or 7 pip or negative 10 pip but it takes one runner or one great day to bring you to 20 pip average per trade or more.

Good trading.
  • #1,153
  • Mar 24, 2009 3:46am Mar 24, 2009 3:46am
This is a trade i have currently, looking good so far.
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  • #1,154
  • Mar 24, 2009 4:17am Mar 24, 2009 4:17am
guys,
i just bailed out of that trade with 25 pip profit, I do not like that long tail, secured 20+.
  • #1,155
  • Mar 24, 2009 4:25am Mar 24, 2009 4:25am
Ming,
Read this,
Febs words post 1079



Make your life easy!

"If the market closes above/below this level, then I'll be short/long.
My stop-loss will be at (x) level , which is the last swing high/low and my level of risk is acceptable. If not, then I will adjust my load . After x amount of pips, I will trail my stop to B/E(plus the landlord's fee) and I will try to shoot for anything greater than my initial risk"


"If I get stopped/bail out etc, then I'll be looking at the other way (long/short). My stop-loss will be at (x) level , which is the last swing high/low and my level of risk is acceptable. If not, then I will adjust my load . After x amount of pips, I will trail my stop to B/E(plus the landlord's fee) and I will try to shoot for anything greater than my initial risk"


ALL IN ONE CHART.

  • #1,156
  • Mar 24, 2009 12:08pm Mar 24, 2009 12:08pm
I have managed to pickup a few pips today as Price has flowed back & forth between 3500 & 3580 for the last several hrs. Today has offered those quick in & out trades. Not much of a trend, but bouncing between support & resistance does offer some opportunities. I'm out for the day.

Good Trades To All.
__________________________
  • #1,157
  • Mar 25, 2009 9:28am Mar 25, 2009 9:28am
Quoting fxachilies
hello my friend,
I dont use a EA and i dont like it. all my trades are manually done and i babysit them with a tight trade managment, I'll try very hard to secure my 20 pip profit but give it chance to get more unless it jepordizes my 20.
Okay thanks , must be that nice little clock/time indi on your charts I`m
looking at . Which one is that ?
Cheers -
  • #1,158
  • Mar 26, 2009 2:33am Mar 26, 2009 2:33am

i have a question, if the best swing is in the beginig of the session ( when the market is range bouncing), wich time range (est time) do i supose to see before the opening of the session of US and the Asian session to?

  • #1,159
  • Mar 26, 2009 3:47am Mar 26, 2009 3:47am
i had this 2 trades in the morning before breakfast.
Waiting for the close of tha candle is something new for me, i usually jumped into the trade after breaking thru the line. Sometimes the close is far away from the Level Line but thats the price to pay for more safty entries
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  • #1,160
  • Mar 26, 2009 6:02am Mar 26, 2009 6:02am
Quoting irastorza

i have a question, if the best swing is in the beginig of the session ( when the market is range bouncing), wich time range (est time) do i supose to see before the opening of the session of US and the Asian session to?

Irastorza,

I will try to answer your ?..... The reason why the start of US session or the London is preferable is that the influx of monies by the big players will usually create the volatility needed to start a new higher highs or lower lows swing. So if you observe price action you will see the momentum pick up, a rise or drop in price creating a swing, a pullback and a breakout of the previous high or low if the move is strong enough. That is what you are looking for with Feb's approach. No guarantees that it will happen but if you have read this thread you will find the mental and tactical approach that Feb has shared with us.

Good luck
Unus pro omnibus, omnes pro uno
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