The System II (Yes with irony)

i started the day with this one.
The move from the bottom was < 30 pips but with 2 swings.
i think its ok to take a trade like this but with same profit as the retrace was.
I closed this one with 12 pips profit

Hi everyone,
Got in on this e/u setup, lets see what happens

http://www.forexfactory.com/images/attach/gif.gif

long 1.3413, 20 pips trailing stop
ok fxachilies?

its fine.

Possible entery,
http://www.forexfactory.com/images/attach/gif.gif

Looking at the same - what you say cancels this set-up? As of this writing price retraced quite a bit ... Thanks

I wouldn't cancel anything until i see: 1.over 61% retrace, 2.the pullback turns into a swing itself.

FX: Did you get in - I took -11 on it; on to the next set-up

Todays market so far is putting a number on me. witnessing fakeout city. 5 trades so far four of them losers, but guess what, only for -36.(I know feb mentioned about not counting pips, but I do not like to reveal my load for the whole forum.. lets just say its not little).
Expectancy is what keeping me in the game, before with only two losses I would be down zillions. now, with only one runner I can be back in positive.
so.. I can end up with 30% w ratio and still keep my head above the water and more... I like that.
This attribute, is a result of... learning the craft of expectancy, accepting losses and moving on.
atleast thats the way i see it.

Good trading to all.

i think its cause of the NFP today, i have had some trouble today also, but i also have a 7pip SL and my TPs vary between 15 and 40 depending on the nearest pivot point so i can also sustain many losses .

Hello to all,

I would strongly suggest that you sit on your hands until the smoke clears after the major news release from US in about seven minutes...... unless you are into the excitement and possible gains or horrific loss.... in that case Best of Luck to you.

its best to sit tight until NY open and trade of yankee's direction... lol

I am going to short on G/U at 5044

i also seee this set up. i'll follow you

Something to think about ......

More than "buy on x and sell on z" let the market show it's hands. Learn how to read it.

The market is a bitch we all know that. Sometimes it lies but when we get it, oh yeah!!! we get it good.

already short on that one, i figure the rise was an irrational news based jump which should eventually be rectified by the "rational" market.

the great feb is back and making us money already.
thanks.


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Am new to this board, but just wanted to say thanks to Feb for the insights he's given in this thread already.