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The System II (Yes with irony)

  • #2,081
  • May 15, 2009 5:23am May 15, 2009 5:23am
currently got this one going on, will ride it to see how far it allows me to


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  • #2,082
  • May 15, 2009 5:26am May 15, 2009 5:26am
Quoting fxachilies
currently got this one going on, will ride it to see how far it allows me to


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trailing stop, sl at 3554 now
  • #2,083
  • May 15, 2009 5:30am May 15, 2009 5:30am
woah, SL got smashed to bits by a raging bull.
  • #2,084
  • May 15, 2009 5:43am May 15, 2009 5:43am
-4 ... now in this case my renter will not be at the same entery point.. it be at the end of last bearish candel or looking the other way.
  • #2,085
  • May 15, 2009 5:48am May 15, 2009 5:48am
now i am looking at higher low to setup a long entery.
  • #2,086
  • May 15, 2009 5:49am May 15, 2009 5:49am
I said yet that after that Feb did tell us "observe the speed on the candles! Momentum!" - I started to do this...

So my question is - Do I right understand, that on E/U Momentum did change from bearish to bullish? So it means that it is possible the move to up... Or???
Or I did understand something wrong...

It looks for me that If I have long position, but momentum changes (in real time and I see it on screen) from bullish to bearish - I have to hit the panic bottom... (it's time to hit panic bottom)...

In general are my thoughts right???
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  • #2,087
  • May 15, 2009 5:50am May 15, 2009 5:50am
Quoting AceOfTrades
woah, SL got smashed to bits by a raging bull.

it sure did budd.. lets see if it be start of a bull run.. if it is be sure to be on the ride... ya baby...
  • #2,088
  • May 15, 2009 6:00am May 15, 2009 6:00am
Quoting dim4ik42
I said yet that after that Feb did tell us "observe the speed on the candles! Momentum!" - I started to do this...

So my question is - Do I right understand, that on E/U Momentum did change from bearish to bullish? So it means that it is possible the move to up... Or???
Or I did understand something wrong...

It looks for me that If I have long position, but momentum changes (in real time and I see it on screen) from bullish to bearish - I have to hit the panic bottom... (it's time to hit panic bottom)...

In general are my thoughts right???...

you need to see a H/L for this momentum change to be confirmed or have higher probability, then get into a long trade on the breakout.
otherwise if you get into the trade right after that long bull candel, yes i would use panic botton if its turning on me.. thats why I personally wait for higher low.
  • #2,089
  • May 15, 2009 6:04am May 15, 2009 6:04am
Hello,

It has been my experience with eud/usd that a drop in volatility occurs frequently (not a prediction) for an hour or two before NY session. This bring about sharp spikes, choppiness etc. that can take you out. According to Feb the best time to catch a swing is at the beginning of a session. Just something to keep in mind.

Good luck
Unus pro omnibus, omnes pro uno
  • #2,090
  • May 15, 2009 6:06am May 15, 2009 6:06am
Quoting moneda
Hello,

It has been my experience with eud/usd that a drop in volatility occurs frequently (not a prediction) for an hour or two before NY session. This bring about sharp spikes, choppiness etc. that can take you out. According to Feb the best time to catch a swing is at the beginning of a session. Just something to keep in mind.

Good luck
Thanks for the insight
  • #2,091
  • May 15, 2009 6:14am May 15, 2009 6:14am
higher low is spoted.. my orders are set.. lets see what happens.
I personally see it this way.. i rather not get cut in the fire.. we will get feb's perspective on this.
the way feb trades these situations are in a advance level.. I think you need a superior read on the market along with a much superior discipline to go along with it and a different trade mangment.. I have not master that yet.. I guess we can learn more from him on the losers thread in these regards.

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  • #2,092
  • May 15, 2009 6:28am May 15, 2009 6:28am
Quoting moneda
Hello,

It has been my experience with eud/usd that a drop in volatility occurs frequently (not a prediction) for an hour or two before NY session. This bring about sharp spikes, choppiness etc. that can take you out. According to Feb the best time to catch a swing is at the beginning of a session. Just something to keep in mind.

Good luck
Moneda,
I don't want you to take this in the wrong way or anything, its just my personal thinking..
key word "frequently", I will not let frequent occurance stop me from missing a wave... losing ratio is a workedout deal for me... catching the wave anywhere, anytime on the chart is my job and thats all i care about... it avoids me to second guess. remember the surfer analogy by feb.
  • #2,093
  • May 15, 2009 6:29am May 15, 2009 6:29am
Quoting fxachilies
you need to see a H/L for this momentum change to be confirmed or have higher probability, then get into a long trade on the breakout.
otherwise if you get into the trade right after that long bull candel, yes i would use panic botton if its turning on me.. thats why I personally wait for higher low.
Thanks, Fxahilies!...

My question is about MOMENTUM in general...

"If the market retraces back to 50% and I see (real time of course) momentum developing against my position. I am out.
It's all about how fast/slow the market is moving against you."


This are words of Feb... I did find them in the thread... post 898...
So... I want to clear it for me... What means "momentum developing against my position"? Does it mean that the candle against me is moving more faster than candles in my way?... Or the candel against me is bigger? (taller)...

 1) How fast is coming against your position.
2) How fast is moving on your side.
3) Is the market stalling???... I wonder what's going on???......

- is it the same theme???
I want just to clarify for me this question... I think it's very important for me... (Something that doesn't allow to sleep me)


Sorry for so long questions..... I am realy very thanksfull to you for your answers...
You help me always so good!!!!!







  • #2,094
  • May 15, 2009 6:46am May 15, 2009 6:46am
Quoting dim4ik42
Thanks, Fxahilies!...

My question is about MOMENTUM in general...

"If the market retraces back to 50% and I see (real time of course) momentum developing against my position. I am out.
It's all about how fast/slow the market is moving against you."


[size=2]This are words of Feb... I did find them in the thread... post 898...
[size=2][font=&quot]So... I want to clear it for me... What means...

I dont know what other wording can be used to explain this... feb is here himself hope fully he has time to get back to you on this.
  • #2,095
  • Edited 7:00am May 15, 2009 6:48am | Edited 7:00am
Quoting fxachilies
Moneda,
I don't want you to take this in the wrong way or anything, its just my personal thinking..
key word "frequently", I will not let frequent occurance stop me from missing a wave... losing ratio is a workedout deal for me... catching the wave anywhere, anytime on the chart is my job and thats all i care about... it avoids me to second guess. remember the surfer analogy by feb.
Fxachilies,

I understand and appreciate your views... my comment does not take away from getting on the bus. There are times when the market is telling you something that can affect your risk management. Let us not forget that sometimes sitting on your hands is a winning proposition. I can not tell anyone when a continuation of a swing is a winner but I do believe that there are things to consider (at that is when the art of trading comes in) with each swing. For example, are you going to take a continuation of a swing right before a major news release? Let us not confuse fearlessness with overtrading although I do believe that if you apply good risk management we will learn and prosper eventually regardless of style.

Thanks
Unus pro omnibus, omnes pro uno
  • #2,096
  • Edited 7:31am May 15, 2009 7:02am | Edited 7:31am
Quoting dim4ik42
Thanks, Fxahilies!...

My question is about MOMENTUM in general...

"If the market retraces back to 50% and I see (real time of course) momentum developing against my position. I am out.
It's all about how fast/slow the market is moving against you."

[font=&quot][size=2]
[size=3]This are words of...
momentum = speed.

Not necessarily on one candle could be the whole market, generally speaking.

On what moneda said, US announcements, especially @8:30 makes the market stalls, sometimes even way back on London Session. Need to be careful on that.

Dim, on my post about momentum, the idea is for you guys to have a better assessment about the market's intentions. Not to be trading on your toes. Hope you know what I mean. If your setup is there, it's your duty to trade. If is no there. stay put.

Guys' you need to know something about me and I'll say this with all respect. I don't spoon fed traders. I won't tell you buy x and sell z. You need to interpret and adapt. Of course, if you get stuck, like dim just did, don't hold yourself and ask ok?? but as I said, you need to do the walkin'....

Markets are based on interpretation...and we all are speculators..

Training wheels coming off...
Peace
  • #2,097
  • May 15, 2009 7:04am May 15, 2009 7:04am
Quoting moneda
Fxachilies,

I understand and appreciate your views... my comment does not take away from getting on the bus. There are times when the market is telling you something that can affect your risk management. Let us not forget that sometimes sitting on your hands is a winning proposition. I can not tell anyone when a continuation of a swing is a winner but I do believe that there are things to consider (at that is when the art of trading comes in) with each swing. Let us not confuse fearlessness with overtrading although I do believe that if you apply...
Moneda,
I apperciate your comments.
my views again, to be successful with febs system II style.. you got to be fearless only if you can apply the good risk/trade managment. You need to have to have good mash of this two combo or you will have a difficult time.
feb, enlighten us...lol
  • #2,098
  • May 15, 2009 7:17am May 15, 2009 7:17am
Quoting fxachilies
Moneda,
I apperciate your comments.
my views again, to be successful with febs system II style.. you got to be fearless only if you can apply the good risk/trade managment. You need to have to have good mash of this two combo or you will have a difficult time.
feb, enlighten us...lol
Fxachilies,

My friend I am not disagreeing with you...there is room for style and interpretation with any approach you take. With all due respect to my mentor Feb, there is no such thing as a system to trade... Feb has given us tools to use in a systematic way to help us get started not to be confused with a mechanical way to trade. In the long run once you throw "the training wheels" each of us has to develop their style based on this approach or any other of your liking.

Good luck to all.
Unus pro omnibus, omnes pro uno
  • #2,099
  • May 15, 2009 7:21am May 15, 2009 7:21am
Guys.

Overtrading is another generic word. I f you see me trading, I put a lot of trades in 1 day. They key is how to manage the load. If you use a load based on z amount of pips , then you'll be in trouble. The load has to be based your equity, moreover on how much you're comfortable to risk on that trade.

Doing this, you minimize the emotional impact and the bankroll keeps in healthy state.

If your risk is located @ 25 pips...adjust your load accordingly...if is 10 pips, adjust the load accordingly.... always keep an eye on the load and you'll be trading with more assurance.

Hope it helps.
Peace
  • #2,100
  • May 15, 2009 7:33am May 15, 2009 7:33am
Quoting feb2865
Guys.

Overtrading is another generic word. I f you see me trading, I put a lot of trades in 1 day. They key is how to manage the load. If you use a load based on z amount of pips , then you'll be in trouble. The load has to be based your equity, moreover on how much you're comfortable to risk on that trade.

Doing this, you minimize the emotional impact and the bankroll keeps in healthy state.

If your risk is located @ 25 pips...adjust your load accordingly...if is 10 pips, adjust the load accordingly.......
Feb,

Sorry for the generic word your explanation is helpful. My main point is that we all have the tendency to try to wear someone else's thinking cap and turn an investigative process into a dogmatic one.

Thanks,
Unus pro omnibus, omnes pro uno
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