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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)

  • #2,241
  • May 28, 2009 11:20am May 28, 2009 11:20am
Quoting feb2865
Fxachilles

here: http://www.forexfactory.com/showthre...ng#post2728125

Post #1961

I am not a big fan of scaling out. I do scale out sometimes depending on how many lots I'm trading. You can opt to scale out x amount of lots when the market reach x amount of pips. Then let the rest run.

Scaling out is a valid strategy only if you plan ahead. You should know beforehand how many lots to trade, where exactly you're going to skin the cat, and what to do with the rest of the corpse.

Something like......

Hi feb,
thanks for the reply.. I know all about scaling out and like yourself i am not a big fan of it as matter fact i dont like it at all.
I was looking more for a trading philosophy of kind that i explained in my last post to you.. I mentioned three options there and was looking for your imput or sugestion on them.

I appreciated anyways.
  • #2,242
  • May 28, 2009 5:27pm May 28, 2009 5:27pm
Quoting fxachilies
ok, red line is break of most recent H/H or in other cases break of L/L.. I personaly test the market at thouse points to make sure not missing a run.

as feb always says, system II is a blue print and work frame.. nothing is a set on stone rule.
....
This explain the chart ,
glad for ur respond, thank's

As always after a thing happened,
my wise guy come up.
When I look back to the chart,
I found a failure entry on short.
and then a reverse abc forming (lime line).

Fx, before ur entry at the break of HH,
there was a short opp.
Short entry I surely will missed ,
cause it's never crossed the bottom swing line.
But the abc next abc form

Do you think,
we better use this for a test and assumed the failure of short ?
As I know,
Feb clearly mention
...
If you get stopped, simply look at the other side
...

Mulyadi
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  • #2,243
  • Edited 11:35pm May 28, 2009 8:13pm | Edited 11:35pm
[quote=fxachilies;2763101]
Quoting DareXau

I trade 10 full lost all times.. i don't know what are you exactly sugesting..

Thanks anyways.
G'day fxachilies,
I have been suggesting scaling out the trade, but as you said later on in your next post:
"... I know all about scaling out and I am not a big fan of it as matter of fact, I don't like it at all..."
Sorry mate, but I don't know about any other options, for me it works fine and gives me a comfort to keep testing the market for any runners after each break-out (most times it becomes a free ride anyway);
but as feb is pointing out its very important:
..."if you get stopped before the market reaching your initial target, you're losing all the dough. So please be sure that your risk goes in accordance with your initial stop..."
I have mentioned earlier about money management and one simple thing which is helping me to asses the risk is "forex calculator"; please find attached file.
All the best with the trading.

PS

Please, don't get me wrong. I'm not about lecturing anyone; we are all learning from experience and knowledge of feb.
... and also other traders.
Right now I'm trying to adopt the Trader-V method into 5 min. time frame, but its to much noise, so for that reason I started to play with the higher time frame
(30 min. & 1 hr.) as the set-up chart and 5 min. as the trigger chart.
http://www.forexfactory.com/showthre...79#post1704779
Attached File(s)
File Type: xls ForexCalculator.xls   35 KB | 632 downloads
  • #2,244
  • May 28, 2009 8:16pm May 28, 2009 8:16pm
uj swing down tf5.....
Patience is the keyword here...
  • #2,245
  • May 29, 2009 2:26am May 29, 2009 2:26am
going bracket.. sell order on the bottom and buy order on the top.. my guess is short will prevail.. lets see


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  • #2,246
  • May 29, 2009 2:40am May 29, 2009 2:40am
Hi Fxahilies! A little time earlier I did try to sell E/U on reversal (break of fractal)... loss trade... on the chart... Did I right (technic)?
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  • #2,247
  • May 29, 2009 3:56am May 29, 2009 3:56am
Quoting dim4ik42
Hi Fxahilies! A little time earlier I did try to sell E/U on reversal (break of fractal)... loss trade... on the chart... Did I right (technic)?

yes its correct.. I took the same trade and endup with loss aswell.. no biggie.. now for the exit i used the next bull candel as my designate exit point.. look at the chart..
If in a situation that i do not get a designated candel to go by with and its a straight fast run against my postion then i normally lose a little more perhaps my hard sl to be hit (about 25-35 pips) which is the most i will ever giveup on a trade.

as you all know i am persuing ways to maximiz profit and it comes at a cost of leaving money on the table and losses sometimes.. so keep in mind that some of the things i do (exit wise) is still a working process but my results are only getting better.. when i feel total confident about it I let you guys know if is requested.


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  • #2,248
  • May 29, 2009 5:59am May 29, 2009 5:59am
Hi dim,
How is E/U going today for you?
  • #2,249
  • May 29, 2009 6:36am May 29, 2009 6:36am
Hello to all,

If you are using Oanda as your broker I have some good news..... They have as of today Trailing Stops!

Good luck to all
Unus pro omnibus, omnes pro uno
  • #2,250
  • May 29, 2009 6:54am May 29, 2009 6:54am
shorted of the fractal break...

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  • #2,251
  • May 29, 2009 7:06am May 29, 2009 7:06am
Quoting moneda
Hello to all,

If you are using Oanda as your broker I have some good news..... They have as of today Trailing Stops!

Good luck to all

That is good news!!

Thanks Mon!
Peace
  • #2,252
  • May 29, 2009 7:12am May 29, 2009 7:12am
I hope I am wrong in the following coment:

There's lack of people on the floor(s) - smells like this will bring a choppy day accross the board. Be aware, just in case.

As I said, I hope the market prove me wrong and those bears come a rescue me LOL!!!
Peace
  • #2,253
  • May 29, 2009 7:13am May 29, 2009 7:13am
Quoting DareXau
Hi dim,
How is E/U going today for you?

Lol... Thanks, - GOOD!!!!! For me it was 2 solid runners... The third I did not trade...
  • #2,254
  • May 29, 2009 7:14am May 29, 2009 7:14am
Quoting fxachilies
shorted of the fractal break...

http://www.forexfactory.com/images/attach/gif.gif
I'm with you, after all day going up is time for reversal with the start of NY session.
  • #2,255
  • May 29, 2009 7:26am May 29, 2009 7:26am
Short setup
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  • #2,256
  • May 29, 2009 8:11am May 29, 2009 8:11am
Quoting DareXau
I'm with you, after all day going up is time for reversal with the start of NY session.

i got lucky with this one.. i had to get something done and couldn't babysit it so left my tp at only 15pips.. now that just retuned had hit my tp just bearly before runup.. But if did not have done so i would have exited the trade of the break of yellow chopp line ending up breakeven.

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  • #2,257
  • May 29, 2009 8:20am May 29, 2009 8:20am
Is anyone going to sell the eur/usd?
  • #2,258
  • May 29, 2009 8:25am May 29, 2009 8:25am
Quoting fxachilies
i got lucky with this one.. i had to get something done and couldn't babysit it so left my tp at only 15pips.. now that just retuned had hit my tp just bearly before runup.. But if did not have done so i would have exited the trade of the break of yellow chopp line ending up breakeven.

http://www.forexfactory.com/images/attach/gif.gif
I ended-up with zero loss and zero profit, after moving my s/l to break even market did another U-tern.
  • #2,259
  • May 29, 2009 8:28am May 29, 2009 8:28am
This double top looks very nice for another short on E/U
  • #2,260
  • May 29, 2009 8:36am May 29, 2009 8:36am
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