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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)

  • #1,901
  • May 11, 2009 2:45am May 11, 2009 2:45am
I'm out -14 , will re entry if touch 00 again
  • #1,902
  • May 11, 2009 2:45am May 11, 2009 2:45am
-7
  • #1,903
  • May 11, 2009 2:47am May 11, 2009 2:47am
-10...
  • #1,904
  • May 11, 2009 2:51am May 11, 2009 2:51am
guess what new setup, keep pluging

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  • #1,905
  • May 11, 2009 2:54am May 11, 2009 2:54am
guys ive been keeping data of these trades, its only a weeks worth but it shows that the winning trades rarely retrace more than 7 pips and usually dont even retrace after the order is triggered so it pays to have tight stops i think. ie. move SLs from 14 to 7 is halving your losses.
  • #1,906
  • May 11, 2009 2:59am May 11, 2009 2:59am
Quoting AceOfTrades
guys ive been keeping data of these trades, its only a weeks worth but it shows that the winning trades rarely retrace more than 7 pips and usually dont even retrace after the order is triggered so it pays to have tight stops i think. ie. move SLs from 14 to 7 is halving your losses.

Good obversation Ace, but guys remember don't make anything a hard core rule.
  • #1,907
  • May 11, 2009 3:09am May 11, 2009 3:09am
Its been also my experience that great moves after trigger time, usually don't have hickups, its a straight 20-30 pips gains. but hey like feb said the other day.. market is a bitch.
what i do most time, I get out with a small loss then fearlessly renter... by doing so 1. I cover my ass from possible big loss by price reverse, 2. don't allow the market to fool me by acting sissy, result in missing the ride.
  • #1,908
  • May 11, 2009 3:53am May 11, 2009 3:53am
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.
Thanks for your good wishes.

I was thinking last night about your question and you might be referring to post #495. Low hit ratio. I've been asked this , several times , privately. I understand your inquiry.

Low hit ratio goes hand in hand as I "test" the market many times. If you see my "trading sheet" you could label my trading as a "failure", of course, just looking at the # of losing vs. winning trades and not looking at the end of the P&L..

As I have many people interested on this subject, I will move it out of here, into a new thread. By no reason I will invalidate any of the threads I have already open, this new thread will address specifically this "test" thingy.

Stay tuned.
Peace
  • #1,909
  • May 11, 2009 4:17am May 11, 2009 4:17am
choppy day, -7 +5 -7
  • #1,910
  • May 11, 2009 4:23am May 11, 2009 4:23am
Quoting AceOfTrades
choppy day, -7 +5 -7
Shake it off and keep running, soldier. You're not done yet.
Peace
  • #1,911
  • May 11, 2009 5:04am May 11, 2009 5:04am
took another -7, if my 1.3569 sell stop fails i think ill wait and see if the yankees can bring some nicer price action when NY opens.
  • #1,912
  • May 11, 2009 6:15am May 11, 2009 6:15am
-14, -20, 0, -18, -20
Is this normal ?
I took all the trade with the arrow sign below.
My hard stop is -20.


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  • #1,913
  • May 11, 2009 6:26am May 11, 2009 6:26am
Quoting Musanto
-14, -20, 0, -18, -20
Is this normal ?
I took all the trade with the arrow sign below.
My hard stop is -20.


Attachment
why your hard stop is 20??
Peace
  • #1,914
  • May 11, 2009 6:31am May 11, 2009 6:31am
The rule is 20 pip profit and 20 pip stop loss.
As you said rule 20/20 worked,
If this is gave a big winning percentage,
why I cannot use stop loss 20 pips ?
That's how I think

Mulyadi
  • #1,915
  • May 11, 2009 6:45am May 11, 2009 6:45am
Quoting Musanto
The rule is 20 pip profit and 20 pip stop loss.
As you said rule 20/20 worked,
If this is gave a big winning percentage,
why I cannot use stop loss 20 pips ?
That's how I think

Mulyadi
please read post #91.

Actually I remember later down the road I was moving myself away from that "rule"

http://www.forexfactory.com/showthre...le#post1945964
Peace
  • #1,916
  • May 11, 2009 6:47am May 11, 2009 6:47am
Quoting Musanto
The rule is 20 pip profit and 20 pip stop loss.
As you said rule 20/20 worked,
If this is gave a big winning percentage,
why I cannot use stop loss 20 pips ?
That's how I think

Mulyadi
It once work , now it don't. It might work again, it might not work again. Nothing work forever. The System II , yes with irony
  • #1,917
  • Edited 7:00am May 11, 2009 6:50am | Edited 7:00am
Hello,

The chop monster is alive and well today...so far...stay alert and use proper $$ management for your particular situation. The 20 pip stop loss is to be used as a safety net in case of a sudden big spike... is a passive way of dealing with risk. It is important to gauge price action once you enter your trade...... if the trade feels sour to you get out and wait for a better situation... as Feb says "wash and rinse".

Good luck to all
Unus pro omnibus, omnes pro uno
  • #1,918
  • May 11, 2009 6:50am May 11, 2009 6:50am
are these two good set up?
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  • #1,919
  • May 11, 2009 7:16am May 11, 2009 7:16am
Hello,

I just thought of this analogy while I sit on my hands... (Feb please set me straight if you think that I've lost it!) Think of yourself as a hound dog.... candlesticks are like footprints in this vast forest... they show you the direction that your prey has taken but that can change at any moment..... The chop monster is like a bunch of footprints that lead to nowhere until they take a direction again.

ruff...rufff...ruff..!
Unus pro omnibus, omnes pro uno
  • #1,920
  • May 11, 2009 7:25am May 11, 2009 7:25am
Quoting moneda
Hello,

I just thought of this analogy while I sit on my hands... (Feb please set me straight if you think that I've lost it!) Think of yourself as a hound dog.... candlesticks are like footprints in this vast forest... they show you the direction that your prey has taken but that can change at any moment..... The chop monster is like a bunch of footprints that lead to nowhere until they take a direction again.

ruff...rufff...ruff..!
Couldn't say better myself brother!!!
Peace
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