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The System (Irony included) 1,175 replies

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The System II (Yes with irony)

  • #2,381
  • Jun 4, 2009 3:11pm Jun 4, 2009 3:11pm
Quoting feb2865
Thanks.
You're not looking to play the formation but what's going on at the line.

The breakout after the fact.

The continuation after the pullback.[/quote]



ok as if I understood correctly.. still pull the trigger based on pre planed setups formation (order 2-3ticks) but stay extra alert once the trade is on and use your niftiest trade managment on early stage of the trade for fakeouts sakes.. or.. once the breakout has occured analyze it then pull the trigger?

Thanks for your time.
  • #2,382
  • Jun 4, 2009 3:35pm Jun 4, 2009 3:35pm
Great thread here, still reading through it, thanks to Feb for this and System I.

I have a question, I will only be able to trade the system for the last 3 hours of New York session (Im in the UK). Is this enough time to make some trades with this system? I plan to trade Euro. Im going to print off 5 min charts for that time period for the last year or two and study them along with this thread..

Thanks again Feb for sharing your wisdom.
Economists have forecast 9 out of the last 5 recessions
  • #2,383
  • Jun 4, 2009 3:43pm Jun 4, 2009 3:43pm
Hi Feb,

In your reply to Lawl you said

"I don't recommend the system II for longer timeframes due the following."

Would you recommend the System I for shorter timeframes? ......The reason I ask (irony included) is that I have been experimenting with that concept.... Give me your perspective.

Thanks and may your health continue to improve.
Unus pro omnibus, omnes pro uno
  • #2,384
  • Jun 4, 2009 3:48pm Jun 4, 2009 3:48pm
Quoting markmm
Great thread here, still reading through it, thanks to Feb for this and System I.

I have a question, I will only be able to trade the system for the last 3 hours of New York session (Im in the UK). Is this enough time to make some trades with this system? I plan to trade Euro. Im going to print off 5 min charts for that time period for the last year or two and study them along with this thread..

Thanks again Feb for sharing your wisdom.
Hello Markmm,

Usually low volatility during those hours. I wish I lived in London.. would love to trade the hours between 2am-6am est.

Welcome and good luck
Unus pro omnibus, omnes pro uno
  • #2,385
  • Jun 4, 2009 4:08pm Jun 4, 2009 4:08pm
Quoting fxachilies
You're not looking to play the formation but what's going on at the line.

The breakout after the fact.

The continuation after the pullback.


ok as if I understood correctly.. still pull the trigger based on pre planed setups formation (order 2-3ticks) but stay extra alert once the trade is on and use your niftiest trade managment on early stage of the trade for fakeouts sakes.. or.. once the breakout has occured analyze it then pull the trigger?

Thanks for your time.[/quote]

Yes...formations are just to keep your heads up..

I personally won't be too focuses on that, other than 123 which is very common..
Peace
  • #2,386
  • Jun 4, 2009 4:18pm Jun 4, 2009 4:18pm
Quoting fxachilies
These are the setups that i keep in mind when i am trading the 5min chart.. and as soon as i see them i place my order and go for the kill.. let me know what you guys think... #1 is the bread and butter and the rest is bulid around that to not miss oppourtunities.

cheers.


http://www.forexfactory.com/images/attach/gif.gif
Thanks Achilies! Your posts are always helpful to me!

Cheers


And of course you too Feb haha
  • #2,387
  • Jun 4, 2009 4:24pm Jun 4, 2009 4:24pm
Quoting moneda
Hi Feb,

In your reply to Lawl you said

"I don't recommend the system II for longer timeframes due the following."

Would you recommend the System I for shorter timeframes? ......The reason I ask (irony included) is that I have been experimenting with that concept.... Give me your perspective.

Thanks and may your health continue to improve.

ahhh..might work but the noise will kill you eventually.

Accumulation of data is not enough to justify a trend on shorter time frames.

Thanks for your wishes buddy!!

My experience is: everything bellow 1 day is noise.

And

sometimes you even have to go further to get a perspective (1 week timeframe)
It's a lot easier to trade big . You just need the dough$$$$$ to make it happen.
Peace
  • #2,388
  • Jun 4, 2009 4:25pm Jun 4, 2009 4:25pm
Quoting moneda
Hello Markmm,

Usually low volatility during those hours. I wish I lived in London.. would love to trade the hours between 2am-6am est.

Welcome and good luck
Well its till during a major session, it seems to die completely around USA close till Asian open. Im sure looking at all the majors I would get a few trades?
Economists have forecast 9 out of the last 5 recessions
  • #2,389
  • Jun 4, 2009 9:41pm Jun 4, 2009 9:41pm
Quoting MJurban
lawl,
u had no answer by now. The way i see it, its more the TF like 4h and daily and insted of a breakout like system II u wacht out for retracement to the Trendline and follow the PA as soon as possible and as long as the trend last.
im also very interisting in teh system I cause i want to trade from bigger TFs like at least H1, better H4 or daily
Thas what Feb says on post #2: i tink thats the core to the system
Thanks for the answer. I think I understand. System II is different because you dont have to identify the trend just a swing and you buy on the continuation after the pullback instead of the pullback itself
  • #2,390
  • Jun 4, 2009 10:12pm Jun 4, 2009 10:12pm
Quoting feb2865
Thinking outside the box - when trading becomes an art.This is something I can't teach.


..... Actually the NY opening could be artificially crafted. That's a good point Dare!
Thank you feb, ... but unfortunately this time that entry turned into small loss, which doesn't stop me at all from testing the market (this is a great lesson I'm learning from your knowledge and experience)
Next two long entries and a short after that easily covered previous loss. But, what is more important then the pips is actually the satisfaction of reading the market.
  • #2,391
  • Jun 5, 2009 12:35am Jun 5, 2009 12:35am
Quoting moneda
Hello Markmm,

Usually low volatility during those hours. I wish I lived in London.. would love to trade the hours between 2am-6am est.

Welcome and good luck
G'day moneda,
So, it looks like I'm lucky living "down under" it gives me the opportunity to follow a market from opening in Wellington till midday of New York session.
  • #2,392
  • Jun 5, 2009 1:48am Jun 5, 2009 1:48am
got this one going right at the edge of london open..

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  • #2,393
  • Jun 5, 2009 2:03am Jun 5, 2009 2:03am
just exited this damn trade at breakeven.. following febs advise as to paying attention to whats happening around the line upon triggered time.. lots of wick candels and at moment showing weak euro demand.. i wait for the next one.
  • #2,394
  • Jun 5, 2009 2:40am Jun 5, 2009 2:40am
now going short off the break of fractal and slight H/L notion..


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  • #2,395
  • Jun 5, 2009 3:04am Jun 5, 2009 3:04am
G'day fxachilies,
I see we doing the same ...
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  • #2,396
  • Jun 5, 2009 3:25am Jun 5, 2009 3:25am
Quoting DareXau
G'day fxachilies,
I see we doing the same ...
nice job.. dancing with the market.. my most favorite dance partner.. lol.. I closed it for nice little profit.. as i choosed to take quick profit due to low volitility before nfp announcment.

cheers.
  • #2,397
  • Jun 5, 2009 4:01am Jun 5, 2009 4:01am
Quoting DareXau
G'day moneda,
So, it looks like I'm lucky living "down under" it gives me the opportunity to follow a market from opening in Wellington till midday of New York session.
DareXau,

Yes, you are mate! (Just trying to sound like an Aussie )

Good luck to you
Unus pro omnibus, omnes pro uno
  • #2,398
  • Jun 5, 2009 4:02am Jun 5, 2009 4:02am
looking at this to go short..



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  • #2,399
  • Jun 5, 2009 4:12am Jun 5, 2009 4:12am
Quoting moneda
DareXau,

Yes, you are mate! (Just trying to sound like an Aussie )

Good luck to you
Thanks and all the best with the trading.
  • #2,400
  • Jun 5, 2009 4:30am Jun 5, 2009 4:30am
This market today is going nuts, maybe we should play within the ranges instead of the break-outs?
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