The System II (Yes with irony)

I close half and 3/4 on futures...1/4 still going and I have a short still running on E/U...full lots no scaling out.....the floor (NYSE) just crushed the bulls big time...unbelievable...

Experience.....a repetitive pattern. "You have to be there if opportunity knocks"

Many years of doing the same....eventually you get the hang of it.....Nothing mysterious or hidden. Just practice. This can't be taught in a forex crash course.

News are definitely an artificial wave across the board. It's artificial 'cause traders and institutions are pushing many markets at once. Markets they don't normally trade. When the dust settles, somebody has to take the other side of the swing. This is where I trade. The "locals" of every market will push the market to the other side, trying to catch a contrarian move, for quick profits, thus creating a wave.

This is what I do in a nutshell, of course there's some tricks I can't tell 'cause I really don't know how to put it on writing.

is this behavior a sure thing? no..... but, more often than not it will happen.

hope it helps.

Long E/U for a quick scalp. 9:01 AM

E/U OUT + 12 ...9:08 AM

All orders liquidated ....

Im having trouble setting stops and knowing how to spot retracements.... what if it trades sideways for a while is this a retracement?

Hello everyone,

Here is a trade I'm taking on a demo account and I think I finally understand this...

Constructive criticism is allowed lol

White line is buy and red is stop and yellow is limit.

Does this look ok?

Cheers,

Ogna.

You have the trade right. I think based on the noise the stop is a lil' too tight You're betting on a big long candle and that is probably an artificial move. It's 7:45 PM EST and lack of liquidity could kill your trade easily.

Check on this thread the preferred times to trade.

We're here to help, no problem.

Haha yeah I got stopped out.... how do you usually determine how tight or "loose" your stop should be? (I am paper trading so it does not matter that I lose lol)



By artificial you mean cause by news?
So basically news candles are not good for this style?


Edit* Here is another chart, I decided to try again same pair just my entry is higher. What do you think?

Also sometimes I see the price retrace around 30-50% of the move and I don't know if I should have my entry after the recent high/low because I will miss a lot of the swing :\

Thanks for your help Feb

Hello everyone!!!!!!

I'm looking at this set up on E/U...

So, Boys! Who wants to trade today??? Why everyone only are waiting for something-something??????

Let's do it!!! Come on! We need to practice our technic...

So, does anyone see some set ups? Do you have any questions? I do. I have many quastions, so I'll trade and ask everyone!!!

E/U makes triangle now... Will see at what direction will it go...

i'm short on E/U set up.
short at 1.3674

I'm not in this trade (market didn't hit my order), but I think it's time to exit... BUT... it is just my opinion...

stopped

I see set up on E/U

ok i'm with you. let's see if it comes back upwards

Focus is on BoE inflation report, until that's out, I expect a very choppy session:

The pound is under pressure ahead of the 09:30GMT Quarterly BoE Inflation Report release and ensuing press conference from BoE Governor Mervyn King, with cable having just tested buy interest at 1.5245. Further demand is noted at 1.5200. Buy stops above 1.5200 were tripped 24 hours ago, en route to a pre-UK MP and trade data high of 1.5228. There is also a 1.5200 option expiry today ( More). 1.5201 was yesterday"s pullback low from a post-UK jobs data high of 1.5331.

dim:
looking for short at 96.10 E/J, do you?

I do not trade this par... Only E/U, G/U, Usd/Chf at other pars my spread is more than 5 pips

ok...they're all sideways or on a weak trend uff...
where are the beautifoul trends?
cable has started, maybe we will see a nice trend today. i hope

haven't started trading yet and i dont think i will as the last 2 days have taught me to recognize when to sit out. looks like this is one of those times.