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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)

  • #1,801
  • May 6, 2009 1:07am May 6, 2009 1:07am
lick your wounds, stand up and keep moving or the next guy will roll you over!!!

And don't spend much time licking your wounds, the market won't care for ya!!
Thank you Feb

nice setup is shaping up on G/U, my orders are set.

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  • #1,802
  • May 6, 2009 2:21am May 6, 2009 2:21am
lost money on my first one with g/u, currently in this one with e/u.. just moved the stop alittle higher as the market moved some in my favor, lets see where it will take me... maybe a runner.. who knows.

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  • #1,803
  • May 6, 2009 2:32am May 6, 2009 2:32am
im in the same one looks like its failing but will put in another order above this retracement if it does.
  • #1,804
  • May 6, 2009 2:38am May 6, 2009 2:38am
Quoting AceOfTrades
im in the same one looks like its failing but will put in another order above this retracement if it does.

thats right Ace, i got out at breakeven buy order is inplace.
  • #1,805
  • May 6, 2009 2:45am May 6, 2009 2:45am
got out at break even too, looks like there is strong resistance based on the last candle's tail.
  • #1,806
  • May 6, 2009 2:59am May 6, 2009 2:59am
Just deleted my buy order, likely put it back after the 0900 Euro news has gone through.
Too tired to argue. Too old to care.
  • #1,807
  • May 6, 2009 3:06am May 6, 2009 3:06am
any reason why some of you trade GU and EU at the same time? both have a reasonable correlation, aren't you just double exposing yourselves to the same price movement?
  • #1,808
  • Edited 3:46am May 6, 2009 3:31am | Edited 3:46am
Quoting feb2865
I am watching you guys. Still feel a lil' woozy but it's all part of the package. St. Peter kicked me out from the pearly gates....Again.




i m so pleased to hear from you. thanks for the helping words.

my setup this morning , as usualy i closed very early with 13 pips profit.
I dont know if it would be better to hold longer waiting for at least 20 pips. I had a lot of B/E Trdaes lately when moving SL to B/E after 10 pips

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  • #1,809
  • May 6, 2009 3:36am May 6, 2009 3:36am
Quoting MJurban
i closed very early with 13 pips gain.
I dont know if it would be bettert to hold longer waiting for at least 20 pips. I had a lot of B/E Trdaes lately when moving SL to B/E after 10 pips
MJ; I took the same trade, came out at BE, I envy your 13 pips.
Too tired to argue. Too old to care.
  • #1,810
  • May 6, 2009 3:40am May 6, 2009 3:40am
Two entries on this g/u set up. First a loser for -14 pips. Re-entered at same price as lower low not made, exit for +40pips.
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  • #1,811
  • May 6, 2009 3:41am May 6, 2009 3:41am
Quoting MJurban
i m so pleased to hear from you. thanks for the helping words.

my setup this morning , as usualy i closed very early with 13 pips profit.
I dont know if it would be better to hold longer waiting for at least 20 pips. I had a lot of B/E Trdaes lately when moving SL to B/E after 10 pips
I got out -6pips on this one.
  • #1,812
  • May 6, 2009 4:04am May 6, 2009 4:04am
Quoting hakga
Two entries on this g/u set up. First a loser for -14 pips. Re-entered at same price as lower low not made, exit for +40pips.
nice trading,
What do u think about trading the GU with SystwemII? Is it okj for u.
I have the feeling the GU is much faster and more volatile then EU. The moves are longer and spikes are more .
Yesterday i had 2 trades GU -15 and +21 but i think i was a bit lucky
  • #1,813
  • May 6, 2009 4:30am May 6, 2009 4:30am
Quoting MJurban
nice trading,
What do u think about trading the GU with SystwemII? Is it okj for u.
I have the feeling the GU is much faster and more volatile then EU. The moves are longer and spikes are more .
Yesterday i had 2 trades GU -15 and +21 but i think i was a bit lucky
Thaks MJurban

I've only traded system II for a couple weeks so can't really draw firm conclusions. The only difference I can see so far is with g/u, stops are wider and need to be given more room for it to breathe, so I don't trail stops quite as aggressively and use a smaller load with wider targets. But I've also had more success with g/u - maybe that's to do with how volatile it is.
  • #1,814
  • May 6, 2009 4:34am May 6, 2009 4:34am
Quoting AceOfTrades
any reason why some of you trade GU and EU at the same time? both have a reasonable correlation, aren't you just double exposing yourselves to the same price movement?
Ace,

A good point. The gbp/usd spread is usually three times higher than the eur/usd. One more thing...the euro sometimes makes a move prior to the London Open, because of Germany's market opening an hour earlier, especially after major economic news releases. Personally I only trade the eur/usd but some people prefer a more edgy pair like the gbp/usd. Feb only traded the eur/usd with this system.

Good luck
Unus pro omnibus, omnes pro uno
  • #1,815
  • May 6, 2009 4:51am May 6, 2009 4:51am
Feb - nice to hear you're on the road to recovery...take it easy.
  • #1,816
  • May 6, 2009 6:33am May 6, 2009 6:33am
Ok guys in regards to G/U trading,
Moneda is right about feb, he only likes to trade the e/u due to more stable volitility verses more volitile G/U. and out first choice should be e/u, and I myself from now on will only post (charts or comments) in regards to e/u.
why I trade g/u? Its a matter of preference and tolerance, when i trade G/U I know that it is a different animal so I risk accordingly.
I treat it as same as E/U when it comes to exit, use the same expectancy mentality, don't give a dime away, if it spikes and hits my sl, big deal, I try to renter if 2nd chance is given or wait for the next ride and so on... what I am very found of G/U is that, most of the time when order is triggered it goes to profit much quicker and chances of getting a quick positive pips are higher or atleast put you in a better position faster (atleast in my experience)... the key for sucess with g/u, as i found out throgh my own pain is to not let the spikey losses effect you in a negative way for rest of your trading day.
About correlation, sometimes they are sometimes there not, so I don't pay attention or worry about it too much, I see a nice setup I pull the trigger regardless of what the other one is doing. I have setup my mind on treating these two separatly and not base my decision on the correlation of the two.

Anyways thats how i go about it.
  • #1,817
  • May 6, 2009 8:25am May 6, 2009 8:25am
Hi guys,

I read this whole thread yesterday and am testing the "System II" on demo on the EUR/USD. I haven't been much of a short term trader recently so I still don't know if it will fit me...but that's why I test different ideas.

One or two questions for you that have been following this longer:

1. From what I read one method of entering/exiting is the Stop/Take profit at 20 pips each way. Then how do you get the runners > 20 pips? Do you move your Take profit manually?

2. Do you always trail with 10 pips as an alternative to the 20/20 rule?

Thanks,
Rubin.
  • #1,818
  • May 6, 2009 8:28am May 6, 2009 8:28am
i asked somethig similar.
1-you enter the trade with SL=TP=20 pips! that's all for the first option.
2-you enter the trade with a 15/20 pips trailing stop, and the exit from the trade will come by itself! that's all for the second and last option.
am i been clear?
  • #1,819
  • May 6, 2009 8:53am May 6, 2009 8:53am
Quoting gorubin
Hi guys,

I read this whole thread yesterday and am testing the "System II" on demo on the EUR/USD. I haven't been much of a short term trader recently so I still don't know if it will fit me...but that's why I test different ideas.

One or two questions for you that have been following this longer:

1. From what I read one method of entering/exiting is the Stop/Take profit at 20 pips each way. Then how do you get the runners > 20 pips? Do you move your Take profit manually?

2. Do you always trail with 10 pips as an alternative to the 20/20...

welcome to the thread,
I suggest read post 1324 (the red parts )
  • #1,820
  • May 6, 2009 9:31am May 6, 2009 9:31am
Well I hope you guys took advantage of this beautiful runner.. NY session came through again, now a possible turn around.
everyone so quiet...
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