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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)

  • #1,201
  • Apr 13, 2009 12:05pm Apr 13, 2009 12:05pm
Quoting RachIII
Hi FxAchilies,


Could you elaborate on your money management approch?

By exemple if you have a loss in a trade do you modifie the weight on the next trade?

Do you used like Feb the trailing Stop?

Thanks for your answer.
My managment is what I learned from Feb. I stop trail but i do it manually I am more hands on, I babysit my trade.
I do not take trades that is giving me more that 1:1RR to begin with.
I never ever try to ravange my loss on the next trade or even next day, each trade is for itself.
I try to stay aggrassive with my stops to cut lossers as short as possible on the winning side i try to not leave profit on the table and secure my inital 20-30 pips and go for more from there.
It all start to click in more and more for me with practise, practise and practise. I hope i answered your question.

Good trading to all.
  • #1,202
  • Apr 13, 2009 12:07pm Apr 13, 2009 12:07pm
Quoting bexterlone
thanks a lot 4 ur comments fx...appreaciate it
Anytime my friend.
  • #1,203
  • Apr 13, 2009 4:12pm Apr 13, 2009 4:12pm
Thank you very much for your answer.
  • #1,204
  • Apr 14, 2009 1:51am Apr 14, 2009 1:51am
Quoting fxachilies
Anytime my friend.

fxachilies! Tell me please another importment thing. Help me please to understand better trade management. Not money management but Trade Management. It's the last thing for me that I don't clear understand.

1. Initial stop-loss may to be at first above/below pullback. Right?

2. Then if the price is going in my favor but I'm not in trade yet (I mean for me price has to go at least 7 pips up for BUY), so if the price has gone 6 pips in my favor do I have to trail stop-loss for 6 pips up? Or I have to trail my stop-loss only when I am in trade now? But then price went 7 pips for that time... (???)

3. How have I to expose my take profit? Do I have to expose it for 20 pips from broken resistant line? But then my TP will me 8 pips(for BUY). Or I have to expose it for 20 pips from my trigger, and then it will be 27 pips from broken resistant line (for BUY).

These things don't allow me to trade surely. Hope YOU'll have time to answer my question. It will made my life empty of stress.

Thank you!

Good luck to all!!!
  • #1,205
  • Apr 14, 2009 2:05am Apr 14, 2009 2:05am
I have this trade going on right now, I hope you guys are in it too.
http://static.forexfactory.com/forex...attach/gif.gif
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  • #1,206
  • Apr 14, 2009 2:12am Apr 14, 2009 2:12am
I wait for this one...
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  • #1,207
  • Apr 14, 2009 2:26am Apr 14, 2009 2:26am
Quoting dim4ik42
fxachilies! Tell me please another importment thing. Help me please to understand better trade management. Not money management but Trade Management. It's the last thing for me that I don't clear understand.

1. Initial stop-loss may to be at first above/below pullback. Right?

2. Then if the price is going in my favor but I'm not in trade yet (I mean for me price has to go at least 7 pips up for BUY), so if the price has gone 6 pips in my favor do I have to trail stop-loss for 6 pips up? Or I have to trail my stop-loss only when I am...
Hi Dim,
Your right about the inital stop loss goes right above or below pullback. Your RR should be 1:1.
about stop trail Feb has explainnded very well in numerous posts but the way i do it when price moves in my favore i just simpley move my stops highr to whatever point that makes sense to lower my risk, still have to give the market room.
I highly suggest eveyone to read post 851 and you will understand how important it is to use stoptrail for this system to benefit both side ( profit and loss).
Dont let anything stop you from trading, lower your risks and keep trading until you get the hang of it, there are no sure thing in this business no perfect thing, with more practise and screen time will improve all conserns, you will figure it out for yourself and create your own style of money/trade mangment, bcz it is a very personal matter and only you can know whats your tolreance.
read the tread some more.

Let me know if anything is unclear still.
  • #1,208
  • Apr 14, 2009 2:34am Apr 14, 2009 2:34am
Quoting fxachilies
I have this trade going on right now, I hope you guys are in it too.
http://static.forexfactory.com/forex...attach/gif.gif

yep,..i managed to pocket +16 pips
-happyTrading-myFx.
  • #1,209
  • Apr 14, 2009 2:40am Apr 14, 2009 2:40am
G/U possible setup
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  • #1,210
  • Apr 14, 2009 2:47am Apr 14, 2009 2:47am
Quoting fxachilies
Hi Dim,
Your right about the inital stop loss goes right above or below pullback. Your RR should be 1:1.
about stop trail Feb has explainnded very well in numerous posts but the way i do it when price moves in my favore i just simpley move my stops highr to whatever point that makes sense to lower my risk, still have to give the market room.
I highly suggest eveyone to read post 851 and you will understand how important it is to use stoptrail for this system to benefit both side ( profit and loss).
Dont let anything stop you from trading, lower...

Thank you!!! I'm very-very thanksfull to YOU!!! I have bought G/U too.
  • #1,211
  • Apr 14, 2009 2:54am Apr 14, 2009 2:54am
WOW!!! I got 16 pips on G/U!!!
  • #1,212
  • Apr 14, 2009 2:58am Apr 14, 2009 2:58am
Price has moved on my favore as u see i moved my stop higher with enough room, now my risk is 3:1 keeping odds in my favore if i get stoped big deal i lose 14 pips there is plenty of other opportunity. one my first trade on E/U i lost 5pips but i gave myself a chance to make atleast 20 pips.
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  • #1,213
  • Apr 14, 2009 3:43am Apr 14, 2009 3:43am
guess what boy lost another 14 pips down 20 pips for the day so far.
But keep coming back at it, its a battle.. lol, I'll take all opportunity given
Possible set up on G/U.
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  • #1,214
  • Apr 14, 2009 3:53am Apr 14, 2009 3:53am
Quoting fxachilies
Dave,
All your concerns are respectable and valid I used to have them all aswell, BUT it all changed for me once i really belived that 1. You can not predict this markets next coming up minute, 2. Losing should be part of my agenda, 3. This is a game of probability.
It sounds like a rerun but If you truly absurb it and dedicate yourself and really act on it, then, it will wipe out all the concerns that you just mentioned above..... etc etc
very good post, fxachilies, very instructive.

I can see target lines on your charts set with the Fib tool. Are you using these and what %ages have you set them to?
  • #1,215
  • Apr 14, 2009 4:18am Apr 14, 2009 4:18am
Quoting Royston
very good post, fxachilies, very instructive.

I can see target lines on your charts set with the Fib tool. Are you using these and what %ages have you set them to?
They are at 50%, I only use them to give me some kind of idea on banking profit, they are not set on stone rule bcz my reall target and the securit on winning in this system is to catch a runner.
  • #1,216
  • Apr 14, 2009 5:47am Apr 14, 2009 5:47am
Is this a valid st up on E/U Or we have to wait for a new session???
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  • #1,217
  • Apr 14, 2009 5:52am Apr 14, 2009 5:52am
It's been a tough day to make money but the beauty is that on a direction less day such as this (london session up to now) with right trade managment your not losing much money.
I have this setp going on right now on E/U, nice solid swing, pullback looks good so far, lets see what happens.
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  • #1,218
  • Apr 14, 2009 6:01am Apr 14, 2009 6:01am
Quoting dim4ik42
Is this a valid st up on E/U Or we have to wait for a new session???

It is valid and perfectly setup, nice job. hopefully this will be our runner in this session.

I have to run some earns I maybe be back for NY session otherwise see you all tomorrow.

Good luck and good trading to all.
  • #1,219
  • Apr 14, 2009 6:06am Apr 14, 2009 6:06am

if

then


Two words you MUST incorporate in your trading. We already know markets are living objects to a certain degree.


"If the market reach xxx price/level, then I'll be Long/Short"

but

"If the market fail to go my way, then I''ll bail out"


and


"if after bailing out, the market goes the other way"

"then I'll go long/short at xxx price/level.

"After xx trades, if the market is not giving out, I quit for the day"

Risking 2% per trade is wrong. You need to know ahead how many trades you'll be placing and how you're spreading the risk among the trades. Look for at least 1:1 R/R .

It is good to play defensive. But ultimately you're a player and you're goal is to make this thing work.


__________________
Peace
  • #1,220
  • Apr 14, 2009 6:19am Apr 14, 2009 6:19am
Fxachilies! And what are you doing when we're waiting for the news? Today there will be 4 news for usd... in one our. Do we have to wait and not to trade directly this time?

Thank you!
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