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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)

  • #1,541
  • Apr 28, 2009 9:59am Apr 28, 2009 9:59am
Thank you for the reply, but I thought that, a big move like that would show momentum and hence, it should've been a pretty good entry. Maybe it is my stop location, maybe I shouldn't be so adament on the 20 pip SL. Anyway, I'm glad that I got stopped 'cause it is going the other way now.
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  • #1,542
  • Apr 28, 2009 10:04am Apr 28, 2009 10:04am
Quoting bpenbert
Thank you for the reply, but I thought that, a big move like that would show momentum and hence, it should've been a pretty good entry. Maybe it is my stop location, maybe I shouldn't be so adament on the 20 pip SL. Anyway, I'm glad that I got stopped 'cause it is going the other way now.
Also, there was USD related news that spiked all the USD crosses.
  • #1,543
  • Apr 28, 2009 10:12am Apr 28, 2009 10:12am
Hey hakga,
How do you get colours to the candelstick on oanda platform.
  • #1,544
  • Apr 28, 2009 10:18am Apr 28, 2009 10:18am
Quoting hakga
My charts for today: +17 pips in total
Hakga,
I'm trying to understand how and when to flip the swing high/low and change from looking for short to looking for long. I think this could be one of the key elements in successfully using this method.

For instance, in E/$, after those failed trades, there were four candles that starting moving down (before your swing low of the +50 trade).

Why did you not have a swing high at 13020 and swing low at 12964 and why were you not looking for short at the break of that swing low?

Thanks
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  • #1,545
  • Apr 28, 2009 10:19am Apr 28, 2009 10:19am
Quoting tane11
Hey hakga,
How do you get colours to the candelstick on oanda platform.
Hi tane11,

Just click on the candlesticks and there should be a menu with Rising Color and Falling Color. Hover your cursor over either and you'll get a futher menu with colour options.

Hope that helps
  • #1,546
  • Apr 28, 2009 10:25am Apr 28, 2009 10:25am
Quoting hakga
Hi tane11,

Just click on the candlesticks and there should be a menu with Rising Color and Falling Color. Hover your cursor over either and you'll get a futher menu with colour options.

Hope that helps
thanks,it wasn't that hard.
  • #1,547
  • Apr 28, 2009 10:36am Apr 28, 2009 10:36am
Hello Traders,
I am so happy to see so many active people, posting charts and helping eachother, keep up the good work everyone.
I had a soccer final match today, we won the championship, now I am extra pumped to make some money.
If you guys need anything I am here.


Good trading to all.
  • #1,548
  • Apr 28, 2009 10:43am Apr 28, 2009 10:43am
Quoting denverdude
Hakga,
I'm trying to understand how and when to flip the swing high/low and change from looking for short to looking for long. I think this could be one of the key elements in successfully using this method.


Thanks
there are a lot of answers to this question like
HigherHighs - HigherLows for long and
LowerHighs - LowerLows for shorts
also Trendline conecting the highs and the lows

but Feb told us in his System for EURUSD
if there is a swingmove of 30-40 pips we expect more in this direction, we wait for a retrace about 50% and then wait for an entry
  • #1,549
  • Apr 28, 2009 10:46am Apr 28, 2009 10:46am
Quoting fxachilies
Hello Traders,
I am so happy to see so many active people, posting charts and helping eachother, keep up the good work everyone.
I had a soccer final match today, we won the championship, now I am extra pumped to make some money.
If you guys need anything I am here.


Good trading to all.
I was thinking at the same thing about the thread, nice to see it alive, and you did a good job on helping the process!

I'm still taking trades using this method, I will post some chart in the coming days and try to help as well for what I can, keep it up.
  • #1,550
  • Apr 28, 2009 10:46am Apr 28, 2009 10:46am
G/U setup, just remeber that it is a 74 point swing, risk of reversal is higher than normall, pull the trigger but stay alert,

http://www.forexfactory.com/images/attach/gif.gif
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  • #1,551
  • Apr 28, 2009 10:51am Apr 28, 2009 10:51am
Quoting cesare76fx
I was thinking at the same thing about the thread, nice to see it alive, and you did a good job on helping the process!

I'm still taking trades using this method, I will post some chart in the coming days and try to help as well for what I can, keep it up.

Great to see you and MJ back posting.
Welcome back.
  • #1,552
  • Apr 28, 2009 10:53am Apr 28, 2009 10:53am
Quoting denverdude
Hakga,
I'm trying to understand how and when to flip the swing high/low and change from looking for short to looking for long. I think this could be one of the key elements in successfully using this method.

For instance, in E/$, after those failed trades, there were four candles that starting moving down (before your swing low of the +50 trade).

Why did you not have a swing high at 13020 and swing low at 12964 and why were you not looking for short at the break of that swing low?

Thanks
Hey denverdude,

I was waiting for a break of the low, but that scenario never happened. Instead we had a qualified swing up of 30+ pips, so it meant we could look for longs.

Using the key words "if then", my thought process at the time was: if this 30+ pip swing pulls back less than 50%, then I will be long on a break. If the long fails, then I'll bail out and look the other way. Or if it pulls back more than 50%, then I'll look for a break of the low.

Hope that helps.
  • #1,553
  • Apr 28, 2009 10:55am Apr 28, 2009 10:55am
Quoting fxachilies
Hello Traders,
I am so happy to see so many active people, posting charts and helping eachother, keep up the good work everyone.
I had a soccer final match today, we won the championship, now I am extra pumped to make some money.
If you guys need anything I am here.


Good trading to all.
Congrats fxachilies!
  • #1,554
  • Apr 28, 2009 11:22am Apr 28, 2009 11:22am
Thanks hakga, nice job with your trades today.

I let my tp to be hit for a 25 pips profit around my target 1 on G/U. I normally look for more gain and keep trailing it, but since i took this trade off of a 74point swing It is wise to bank the profit there, what do you think? feed backs are welcomed.
  • #1,555
  • Apr 28, 2009 11:25am Apr 28, 2009 11:25am
Hi Achilles,

I took that G/U trade and got 32 pips.
  • #1,556
  • Apr 28, 2009 11:46am Apr 28, 2009 11:46am
Quoting fxachilies
Thanks hakga, nice job with your trades today.

I let my tp to be hit for a 25 pips profit around my target 1 on G/U. I normally look for more gain and keep trailing it, but since i took this trade off of a 74point swing It is wise to bank the profit there, what do you think? feed backs are welcomed.
Good trade, I missed the bus. Best to be conservative since the swing was not fresh - can always get on again if it sets up.
  • #1,557
  • Apr 28, 2009 11:59am Apr 28, 2009 11:59am
ok guys, now you see we are in the possible reversal on G/U, the reall pullback is happening now verses the small one bar pullback, that is why it is so important to wait for the fractal 1 to be broken first then wait for the PB, now if the PB does not happen you can go ahead and test the market on the break of fractal 2 so you dont miss the bus.

This is a patteren that i have been paying attention on for some time. I been trading it and It has been working for me I hope it will for you too.

http://www.forexfactory.com/images/attach/gif.gif
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  • #1,558
  • Apr 28, 2009 12:14pm Apr 28, 2009 12:14pm
Hi Fxachilles,

Can you explain trading fractals, this is something that I am missing in my trades. I can't seem to stay on track.
I thought that we wait for about a minimum 40 pip swing, once we have identified a swing, then we look for a pullback of between 40 to 60% of the swing. Then once we identified the pullback, we wait for it to cross the start of our swing, and enter with a 2-3 pip buffer. Then let it ride.
Where I need help, is on how many bars or candles make the swing too long or too short of a time frame, ex: 3 hours to form a swing and 2 hours to form pullback, this I would think would not make for a typical trade, neither would a one bar 50 pip swing and a 2 bar pullback make a good trade also (As I experienced today).

What in your opinion makes a text book trade, for our swing trading?

Can you please ellaborate on your fractal trading?

Cheers!
  • #1,559
  • Apr 28, 2009 12:18pm Apr 28, 2009 12:18pm
Who can tell me what might be in the making?

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  • #1,560
  • Apr 28, 2009 12:20pm Apr 28, 2009 12:20pm
Going down?
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