The System II (Yes with irony)

[quote=rockya1;2804231]Hello everyone,

i read this thread alot and am still in a fase of testing Feb's system. I see some of you have made the system work for you. For the rest of us, we will get there.

I have come accross one interesting read. It is based on stock trading but it can also be used with forex trading. Maybe some of us can get a litle click out of this to help us upgrade our trading data base.

Whish all of you a good trading!!


"10 Steps to Professional Day Trading" ...

... as you mention at the beginning of your post, you are in a stage of testing Feb's system II, wish you good luck with this,
but my suggestion is simple: don't paper-trade for to long, it is more effective to learn by trading live using a mini/micro-lots;
and secondly, but probably much more important is to stay focused on one and only the one system, without making any changes to it or trying to implement some variations or additions.
Beauty of Feb's strategy is a simplicity and effectiveness, which leads to profitable and stress free trading.
All the best.

Hello DareXau

I am testing it on live account but as you said I am using very small load (a few euros). It is more stressful to loose a few cents on live account than on demo account.
I trade forex for about a year and in the mean time a have tried a lot of systems. Sometimes it was profitable(sometimes even a few 100% per day or two) but then you get a few losing strikes and you put your account in half.
I have learned that using smaller stops and smaller load can give your account a better chance for survival.
I have reloaded my account several times (a few hundred euros).

My point is this(in my head): If you dont have a system that is consistent in making profit you are gona lose your money on your account. When i wiped my account I reloaded again and again and again.

When I started reading FEB's threads I got the feeling that I can get out of the storm and start making money.

I got rid of almost all indicators on my chart.
I use setups of SYSTEM II.
I use 20/20 rule with auto trailing stop.
I read this thread a lot and see what makes money for you guys.

In the future a want to see on this thread post like:
Man I got it!! I finaly make more than I lose.
My new BMW is not so far anymore!!
I can cut my bosses tie and dont have to listen to him anymore!!
I FEEL FREE!!!!!!!!!!!!!!!!!!!!

Best trading to all

HI to all,

I have read two jokes that made me laugh and they are talking of our business.

1) How can you make $1000000 in a stock market??
Start with two!


2) A friend askes a broker:
F:How can you sleep at night while all this recesion is going on?
B:Ooooooooo I sleep like a baby!
F: How is that posible?
B: I cry all night and shit my pijamas twice during!

... some time last week, I noticed on daily T/F a nice head & shoulders pattern about to forming, so I did put a stop sell order accordingly,
that order trigged last night, ... and ... it's bloody annoying, not because the price is going against that trade at the moment, not at all
(S/L are in place as well as other sell orders in case of sudden selling pressure and price acceleration) but annoying is to see this daily order on the 5 min. T/F,
because it distracts my view of the chart and I know it reflects on the rest of my trading. Anyway, another long just triggered, let see how it goes.
So, learning never stops.

... the last long entry was very short lived ...

Is it better to set stop loss just below pullback and trail it?

Or is it best to have at least 1:1 risk reward ratio and stop loss accordingly?


Thank you for the answers

For me, if the risk/reward is less than 1:1, I don't enter such trade (personally prefer 1:1.5 or 1:2)
S/L below a pullback is sometimes expensive,but this can be adjusted by the load.
Additionally I'm always looking for recent ATR and speed of the candle/bar,
as well as any proximity to related news or starting/ending of the overlapping sessions.

Ok, I lost money and I am trying to make it back but in the process I am only loosing more is it a bad idea to increase the lots?
I want to make that money back :

market revenge... bad idea. If you are losing money with any trading style, my advice is DECREASE the lots until you are more consistant with your gains. Remember that it takes time to learn how to be successful with feb's "system."

Take more positive attitude, ... as ... the money you are losing is only a small "school fee", which you have to pay for learning to became a profitable trader in some time.

Haha this is a good attitude Thanks for your consoling!

... euro/dollar are very much in ''yo-yo'' mood, which is almost fun to trade it ...

... last trade eventually close on T/P target, but it was just 2 pips away from hitting S/L

http://img197.imageshack.us/img197/1839/bobb.pnghey, can you let me know if this entry looks good? gbp/usd

... I reckon it's a bit over-reaction to slightly not to good news, but anyway it's nice and easy pips.

Does anyone on this thread have msn messenger?

No, ... why?

just wondering haha

Feb, I was told that "pro" traders never trade timeframes less than 1hour what do you have to say to this?

I'd be really interested to learn your approach to setting the TP. Do you have a rule set you follow or is it based on your experience of the market?

Thanks,

D.