The System II (Yes with irony) | Page 111 | Forex Factory

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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)

  • #2,201
  • May 25, 2009 9:20pm May 25, 2009 9:20pm
Hey everyone,
I am starting my first live trading day tomorrow
So I will be posting charts and I will be following that charts posted here too, keep it up!

Cheers
  • #2,202
  • May 26, 2009 6:23am May 26, 2009 6:23am
hey guys, i am still getting through this thread currently @ pg 90
i just wanted to thank feb for starting it & fxachilies for contniuing it.
i hope feb continues to post.keep up the great work guys this threads is to good to fade out.
andrew
Survive & Preserve
  • #2,203
  • May 26, 2009 6:57am May 26, 2009 6:57am
Hi everyone,
I currently got this one going on..

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  • #2,204
  • May 26, 2009 7:09am May 26, 2009 7:09am
Quoting fxachilies
Hi everyone,
I currently got this one going on..

http://www.forexfactory.com/images/attach/gif.gif
trade managment..
sl moved up higher to 7pips..

http://www.forexfactory.com/images/attach/gif.gif
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  • #2,205
  • May 26, 2009 7:28am May 26, 2009 7:28am
Quoting fxachilies
trade managment..
sl moved up higher to 7pips..

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

ok guys this is what i do to maximize my profit..
if price crosses point B.. then i move my sl to 5pips under point A.. then let it run until next bump (fractal).

http://www.forexfactory.com/images/attach/gif.gif
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  • #2,206
  • May 26, 2009 7:31am May 26, 2009 7:31am
Quoting fxachilies
ok guys this is what i do to maximize my profit..
if price crosses point B.. then i move my sl to 5pips under point A.. then let it run until next bump (fractal).

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

ok as i was typing the last post priced moved up so is my sl and my fractal gray line is drawn.. I will keep trailing this as i am 26 pips into profit at this moment.

http://www.forexfactory.com/images/attach/gif.gif
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  • #2,207
  • May 26, 2009 7:38am May 26, 2009 7:38am
some of you might say hey just take the profit now.. BUT, if i do that i will never end up making 69point out of a 100pips runner.. taking maximum advantage is the key to be successful in this method in my experince.

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  • #2,208
  • May 26, 2009 7:46am May 26, 2009 7:46am
ok guys i just exited this trade for a 19 pips profit for a sole reason that i am tired and so far ahead today that this profit just took me over 150+ for the day.. three times above my daily goal.. I need to get off the screen.
tip if you are in this trade do not exit til where my last sl was.. it looks promising i would have trailed it to death.

see you guys tomorrow.. I hope this was a help to you.
  • #2,209
  • May 26, 2009 7:59am May 26, 2009 7:59am
Quoting fxachilies
ok guys i just exited this trade for a 19 pips profit for a sole reason that i am tired and so far ahead today that this profit just took me over 150+ for the day.. three times above my daily goal.. I need to get off the screen.
tip if you are in this trade do not exit til where my last sl was.. it looks promising i would have trailed it to death.

see you guys tomorrow.. I hope this was a help to you.
150+ pips!!! wow..... please keep posting charts you are really doing well for yourself and you seem to totally understand this stuff haha.

Cheers
  • #2,210
  • May 27, 2009 2:50am May 27, 2009 2:50am
Quoting fxachilies
This place is turning into ghost city again.. despite the dataless day this was a pretty good day for our way of trading, nice controled volatility.. 3 solid runners.. hope to see you guys tomorrow.

cheers.

My todays chart trades.

http://www.forexfactory.com/images/attach/gif.gif
Hi Fxahilis!!!

If I correctly have understood - white lines on your charts it is those places, on which you enter for trade on reversals. On breaks of fractals. Correctly?

Thanks!!!
  • #2,211
  • May 27, 2009 4:55am May 27, 2009 4:55am
currently got this one going on.. my first trade of the day.. lets see if it would develop into a good one..

http://www.forexfactory.com/images/attach/gif.gif
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  • #2,212
  • May 27, 2009 4:59am May 27, 2009 4:59am
Quoting dim4ik42
Hi Fxahilis!!!

If I correctly have understood - white lines on your charts it is those places, on which you enter for trade on reversals. On breaks of fractals. Correctly?

Thanks!!!

I use the white lines as an alert of possible market direction reversal and my last exit option if I have not bailed out already and I so also use it sometimes for enterance as you mentioned above.

cheers.
  • #2,213
  • May 27, 2009 7:07am May 27, 2009 7:07am
G'day,
90 pips on the way down, getting ready for reversal as yesterday; maybe another 100 pips runner up.
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  • #2,214
  • May 27, 2009 8:32am May 27, 2009 8:32am
... as yesterday; +70 pips and going, I love it!!!
  • #2,215
  • May 27, 2009 11:34am May 27, 2009 11:34am
Guys.

It is good when everything goes your way. But you need to keep focused on your target. As I mentioned many times before, the bottom line is all that matters. You're just building positive equity out of 5 minutes charts. That equity is with a long-term goal. If you trade with your tail between your legs sweating every 5 pips, you're not going to make it on this business. This style of trading is long and cold. You make a kill, load up, and look at the crosshair for the next victim


Just a lil reality check here.

I've been asked many times about timeframes. This style of trading is not suited for everyone. You need to find out what's more comfortable for you. Look in my posts here on this thread. I explained how this timeframes stuff works. Trading anything below 1 hr is somehow stressful and could be frustrating.

I repeat, all that matters is your bottom line. Keep your eyes on the target!!

Thanks
Peace
  • #2,216
  • May 27, 2009 5:44pm May 27, 2009 5:44pm
Quoting feb2865
Guys.

It is good when everything goes your way. But you need to keep focused on your target. As I mentioned many times before, the bottom line is all that matters. You're just building positive equity out of 5 minutes charts. That equity is with a long-term goal. If you trade with your tail between your legs sweating every 5 pips, you're not going to make it on this business. This style of trading is long and cold. You make a kill, load up, and look at the crosshair for the next victim


Just a lil reality check here.

I've been asked many...
Hi feb,
I am a bit puzzled and confused about couple of lines in this post.
what should we do exactly? if you may break it down to a level that i can understand.
as for me I have made up my mind on five minute chart and its my comfortable zone with conscious of that it is frustrating and stressfull.

you say: You're just building positive equity out of 5 minutes charts.
is that a bad thing or good thing? right or wrong?

That equity is with a long-term goal. Keep your eyes on the target!!
building equity little by little out of 5m chart on daily bases, isn't that what we should do to lead to a eventual positive bottomline? is there any other target besides that?

If you trade with your tail between your legs sweating every 5 pips, you're not going to make it on this business.
I am not sure about the specifics that your exactly talking about? you mean.. take quick profit and look for the next one? or give room to take full advantage of possible run? or am i just completley missing the point here?

I am sorry if i come out looking blunt or just misunderstood this whole post, i just have to get a clear picture and some guideness sometimes.

I apperciate all your help.
  • #2,217
  • May 28, 2009 12:07am May 28, 2009 12:07am
Quoting feb2865
Guys.
...
business. This style of trading is long and cold. You make a kill, load up, and look at the crosshair for the next victim
..

....
Feb,
Do you remember time you need to successfully trade irony II ?
I'm still here, absorbing and practicing what I've got from this thread.

This what I learnt from you, this system won't work if
1. You can't make a cut loss decission if price moved against ur favour.
2. You won't / avoid to catch the runner
3. You won't reverse ur trade after it made reverse abc

points above are things you won't spoon fed,
It's hard, when u used to trade using indicator, no other clues to make decision
haha, lol

Mulyadi
  • #2,218
  • May 28, 2009 12:26am May 28, 2009 12:26am
I'm long at 1.3828, is this a runner ?

Attached Image
  • #2,219
  • May 28, 2009 1:53am May 28, 2009 1:53am
Hi Guys,
looking at this to be triggered short.. my sl is more than what i would like to be but it needs to be away from the noise.. if the trade is on and it goes in my favor some then i'll will adjusted by 10pips.. let see what happens.. keep in mind also that we are right at the edge of london open..

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  • #2,220
  • May 28, 2009 2:24am May 28, 2009 2:24am
Quoting fxachilies
Hi Guys,
looking at this to be triggered short.. my sl is more than what i would like to be but it needs to be away from the noise.. if the trade is on and it goes in my favor some then i'll will adjusted by 10pips.. let see what happens.. keep in mind also that we are right at the edge of london open..

http://www.forexfactory.com/images/attach/gif.gif
Hi Fxahilies! This move was great at G/U... E/U didn't want to do the sane thing... lol...
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