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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)

  • #1,881
  • May 8, 2009 7:15am May 8, 2009 7:15am
broke the sell line, my expectancy is for a large drop like the one on wed. so no TP, just a 20 pip trailing SL.
  • #1,882
  • May 8, 2009 7:16am May 8, 2009 7:16am
Quoting AceOfTrades
broke the sell line, my expectancy is for a large drop like the one on wed. so no TP, just a 20 pip trailing SL.

what are you talking about? GBPUSD?
  • #1,883
  • May 8, 2009 7:17am May 8, 2009 7:17am
I believe I mentioned this before, if I did, my apologies.

Wild swing on news are normally artificial. A lot of traders are placing orders in various markets, thus creating a big "wave" altogether. In spot forex, that move is crafted by the banks...Is their game. This is why the broker pushes their spreads fast n' high, 'cause banks are refusing to honor those swings.

Don't blame it on the messenger.......blame it on the source.

But (always a "but" in everything huh!?)

Somebody has to take the other side of the swing...don't you think??

Like I said before, not an exact science...more like an art...it works pretty often..
Peace
  • #1,884
  • May 8, 2009 7:19am May 8, 2009 7:19am
Quoting matte
what are you talking about? GBPUSD?
nah EURUSD

I find it less erratic and more "predicable" sure GBP has larger swings which can give more pips but it also requires larger SL's. It also has a lower spread
  • #1,885
  • May 8, 2009 7:33am May 8, 2009 7:33am
Feb,

Nice to see you back on the saddle!

Your observation is looking goooood!

Take care,
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Unus pro omnibus, omnes pro uno
  • #1,886
  • May 8, 2009 7:35am May 8, 2009 7:35am
trailing stop got hit at +3 pips, re entered sell stop 3 pips below retracement.
  • #1,887
  • May 8, 2009 7:40am May 8, 2009 7:40am
Quoting moneda
Feb,

Nice to see you back on the saddle!

Your observation is looking goooood!

Take care,
Thank you moneda!!

I was just looking...hopefully I'll be back to full trading on Monday.

To all of you guys, keep the good work. I wish you all the best!!

Good Karma and blessings to all of you...!!

I'll stick around for a little more.
Peace
  • #1,888
  • May 8, 2009 8:00am May 8, 2009 8:00am
Quoting feb2865
Thank you moneda!!

I was just looking...hopefully I'll be back to full trading on Monday.

To all of you guys, keep the good work. I wish you all the best!!

Good Karma and blessings to all of you...!!

I'll stick around for a little more.
Feb:

good to see around - thanks for all your invaluable input. Blessings and good health to you.

- Ming
  • #1,889
  • May 8, 2009 8:13am May 8, 2009 8:13am
hi
first, sorry for my english.

may i do same on 4h chart?
And:
thank you feb for open my eyes (billive for others to).
Others:
you are doing graet job that keep this thread alive!
  • #1,890
  • May 8, 2009 8:40am May 8, 2009 8:40am
Hello,

The swing did not materialized...no sweat...don't force a trade.... let the market show you the way... as Feb would say.."be a predator not the prey".


Good luck to all and have a great weekend
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Unus pro omnibus, omnes pro uno
  • #1,891
  • May 8, 2009 8:44am May 8, 2009 8:44am
Quoting bphone
hi
first, sorry for my english.

may i do same on 4h chart?
And:
thank you feb for open my eyes (billive for others to).
Others:
you are doing graet job that keep this thread alive!
I won't recommend this style of trading on 4hr charts. It's another trade management..another animal.

Well, guys have a nice weekend...see ya on monday hopefully

Good Karma!.
Peace
  • #1,892
  • May 8, 2009 9:46am May 8, 2009 9:46am
Hello everyone I am new to this thread and I read the first 32ish pages and I took a lot of notes

Could someone fill me in on anything I might have missed? So far I really like the trading style!!!


Cheers!!


Edit* I will use what I learned so far on monday and I will post results with pics and stuff.
  • #1,893
  • May 10, 2009 7:23pm May 10, 2009 7:23pm
Feb, welcome back! I sincerely hope you have a speedy recovery.

You said a couple of times something about testing the market. I would like to know, if you can elaborate more about it. In fact I know you’re scalper. But if there’s a way you can go deep into that testing phase. Of course, without compromising anything you would like to keep proprietary.


Thanks.
  • #1,894
  • May 10, 2009 11:31pm May 10, 2009 11:31pm
fxachilies,

Welcome man...i thought people are taking rest today.

-myFx-
-happyTrading-myFx.
  • #1,895
  • May 10, 2009 11:38pm May 10, 2009 11:38pm
Quoting wp3vv
Feb, welcome back! I sincerely hope you have a speedy recovery.

You said a couple of times something about testing the market. I would like to know, if you can elaborate more about it. In fact I know you’re scalper. But if there’s a way you can go deep into that testing phase. Of course, without compromising anything you would like to keep proprietary.


Thanks.
Hi W,
I suggest you read the whole thread or flip through it and you will find all your answers.

Good luck.
  • #1,896
  • May 10, 2009 11:39pm May 10, 2009 11:39pm
Quoting myfx
fxachilies,

Welcome man...i thought people are taking rest today.

-myFx-

not me man, I am a forexholic... lol
  • #1,897
  • May 11, 2009 12:02am May 11, 2009 12:02am
Hi Guys!

Let's see what the market will give us today...

Good trades to ALL!!!
  • #1,898
  • May 11, 2009 12:21am May 11, 2009 12:21am
I think it's set up on E/U
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  • #1,899
  • May 11, 2009 12:24am May 11, 2009 12:24am
e/u setup,

http://www.forexfactory.com/images/attach/gif.gif
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  • #1,900
  • May 11, 2009 12:26am May 11, 2009 12:26am
im also waiting for that one, just hovering above it
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