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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)

  • #1,401
  • Apr 22, 2009 1:28am Apr 22, 2009 1:28am
E/U setup, as we just started to get some momentum swings, pullback looking ok, My orders are set, lets see what happens.


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  • #1,402
  • Apr 22, 2009 1:33am Apr 22, 2009 1:33am
Quoting dim4ik42
First time I got stop at -11 ( Trade expectancy) at this set up (I can't predict the market), and then I got the runner and did stop my trade with + 19 pips.

shake it off, it's not a problem, get ready for the next bus, there is always a next one.
  • #1,403
  • Apr 22, 2009 1:37am Apr 22, 2009 1:37am
Quoting fxachilies
shake it off, it's not a problem, get ready for the next bus, there is always a next one.

I am sorry dim, I misread your post, I thought you did not bank 19 and lost 11 insted....lol my appologie, need more coffee.
Great job on G/U trade.
  • #1,404
  • Apr 22, 2009 1:48am Apr 22, 2009 1:48am
Quoting fxachilies
shake it off, it's not a problem, get ready for the next bus, there is always a next one.

So, Fxahilies! Did I this time right (I mean trade expectancy)? I did enter the market. When it did revers - I did exit with -11 (bcz I can't predict what will be next), and then, when I saw that the market goes back my way I re-establish my position at the same Buy price. It was a runner this time and I got + 19.

My question is about TRADE MANAGEMENT.

I realized that Trade Management is one of the most important things of trader's job. This is that help us to be above bottom line, and be consistent.

What I do these days - I learn how to manage my trades. That I do.


Thanks for answer!

  • #1,405
  • Apr 22, 2009 2:00am Apr 22, 2009 2:00am
Quoting dim4ik42
So, Fxahilies! Did I this time right (I mean trade expectancy)? I did enter the market. When it did revers - I did exit with -11 (bcz I can't predict what will be next), and then, when I saw that the market goes back my way I re-establish my position at the same Buy price. It was a runner this time and I got + 19.

My question is about TRADE MANAGEMENT.

I realized that Trade Management is one of the most important things of trader's job. This is that help us to be above bottom line, and be consistent.

...

it is perfectly done, congrats.
The only thing i want to point out is: on G/U you want to make sure there is atleast a 30pips swing perferably a 40pips swing so there is enough momenum to get atleast your quick 20 and be in the winning situation.
(on my chart shows the first swing of G/U its only 27 pips, maybe its different on yours)
But again with the right mind frame of expectancy you can get away with mistakes or jumping the gun and end up with a very little loss.

great job over all your in the right track.
  • #1,406
  • Apr 22, 2009 2:13am Apr 22, 2009 2:13am
Fxahilies!

Here is my morning chart with 37 swing on G/U

I can be wrong. Show me my mistake, please. For me it is very importment!

I'm just a pupil.
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  • #1,407
  • Apr 22, 2009 2:30am Apr 22, 2009 2:30am
Quoting dim4ik42
Fxahilies!

Here is my morning chart with 37 swing on G/U

I can be wrong. Show me my mistake, please. For me it is very importment!

I'm just a pupil.

ok I see what you have done, this is how i would draw my lines and trade off from there

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  • #1,408
  • Apr 22, 2009 2:30am Apr 22, 2009 2:30am
Quoting dim4ik42
Fxahilies!

Here is my morning chart with 37 swing on G/U

I can be wrong. Show me my mistake, please. For me it is very importment!

I'm just a pupil.
Hi Dim,

What price did u enter long ?
May the pips be with me !!!
  • #1,409
  • Edited 2:59am Apr 22, 2009 2:44am | Edited 2:59am
Quoting ahlude
Hi Dim,

What price did u enter long ?
Hi Ahlude! I did enter on G/U long at 1.4652. One time, then another time. Twice. First time -11, second +19

Sorry! This price is ASK. I mean Bid (on chart) + ASK (for buy, My is 4) and + 3 pips Enter.
Bid it was 1.4648
  • #1,410
  • Apr 22, 2009 3:14am Apr 22, 2009 3:14am
Fxahilies!

Here are my thoughts at the chart. This is how I saw the picture.

Please tell me where I'm wrong. I repeat it's importment for me!

Thanks for answer!!!
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  • #1,411
  • Apr 22, 2009 3:17am Apr 22, 2009 3:17am
And another chart with that set up on G/U...

This is what I saw then.
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  • #1,412
  • Apr 22, 2009 3:23am Apr 22, 2009 3:23am
Quoting dim4ik42
Fxahilies!

Here are my thoughts at the chart. This is how I saw the picture.

Please tell me where I'm wrong. I repeat it's importment for me!

Thanks for answer!!!

now its much clearer, no mistakes. good job on getting back in the trade more imortantly losing only 11 on the other, well done.
  • #1,413
  • Apr 22, 2009 3:46am Apr 22, 2009 3:46am
Hey Fxachilies,

Do you use a set profit target on your trades, or do you let them ride and close them at your discretion? If yes do you set the TP when you place your pending orders?

Thanks
Stay on the PIPest side of life!
  • #1,414
  • Apr 22, 2009 4:03am Apr 22, 2009 4:03am
Quoting PIPer
Hey Fxachilies,

Do you use a set profit target on your trades, or do you let them ride and close them at your discretion? If yes do you set the TP when you place your pending orders?

Thanks

No i do not have set profit target, but I do place sl and tp when I set my order, then I move them in my discreation. the target lines that you see on my fib chart is just a guide not a set in stone rule.
  • #1,415
  • Apr 23, 2009 12:56am Apr 23, 2009 12:56am
Hi Guys,
It's getting pretty quite around here again... Alright I admit I was not much active and did not do much posting yesterday, I was alittle busy with other stuff and did not trade much, BUT its a new day and I am ready to take on the market trade live, get excited this is the best besiness in the whole wide world and you are in the best thread, so who is joining me??? lets see a show of hands..... lets do this boys.

Already cut one runner on G/U, banked 62pips.
  • #1,416
  • Apr 23, 2009 1:13am Apr 23, 2009 1:13am
Quoting fxachilies
Hi Guys,
It's getting pretty quite around here again... Alright I admit I was not much active and did not do much posting yesterday, I was alittle busy with other stuff and did not trade much, BUT its a new day and I am ready to take on the market trade live, get excited this is the best besiness in the whole wide world and you are in the best thread, so who is joining me??? lets see a show of hands..... lets do this boys.

Already cut one runner on G/U, banked 62pips.
FX,

Congrats on the G/U runner - missed that one, but I'm now looking the other way ... sell stop at 1.4543 - how about you?

Thanks for your help
  • #1,417
  • Apr 23, 2009 1:13am Apr 23, 2009 1:13am
The other way,
as H/L has been created, now 1) I wait for a the fractal to be broken by that I should see a much stronger swing aswell with more momentum, 2) wait for a solid pullback.


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  • #1,418
  • Apr 23, 2009 1:23am Apr 23, 2009 1:23am
Quoting fxachilies
The other way,
as H/L has been created, now 1) I wait for a the fractal to be broken by that I should see a much stronger swing aswell with more momentum, 2) wait for a solid pullback.


http://www.forexfactory.com/images/attach/gif.gif
Lower highs, but not an ideal set-up anymore, now what?
  • #1,419
  • Apr 23, 2009 1:35am Apr 23, 2009 1:35am
Quoting ming0168
FX,

Congrats on the G/U runner - missed that one, but I'm now looking the other way ... sell stop at 1.4543 - how about you?

Thanks for your help

Ming,
On my last chart I explained how i would trade this situation. the reason is (and its only my opinion) when i see a such a previous strong move then for the confirmation I need to see the most recent fractol (in the chart) to be broken and then trade off the pullback. sure sometimes you will miss the move but we dont know the feautre. Like feb says, Market communicates to you, when the communication is not clear Its better to left it alone and stay put for the next bus, bcz there is always one coming up next.
Meanwhile I still have a order set on top for further gain.

I hope it helps.
  • #1,420
  • Apr 23, 2009 1:39am Apr 23, 2009 1:39am
Hi fx and other feb followers,

here's a set-up on eu I was looking at but now I'm not sure that its taken so long to continue.

Ayone's thoughts would be appreciated


edit, its taken me a while to add the chart, sorry...

cheers and happy trading

obviously i still haven't got the chart thing right, i'll keep trying
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