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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)

  • #2,521
  • Jun 25, 2009 2:24am Jun 25, 2009 2:24am
im shorting this now, as per my chart view, let see how it goes
  • #2,522
  • Edited 3:46am Jun 25, 2009 3:11am | Edited 3:46am
Quoting ernest
im shorting this now, as per my chart view, let see how it goes
OK ... by now you should be in some profit on the short entry, ... I continue to play in the brackets ...
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  • #2,523
  • Jun 25, 2009 6:47am Jun 25, 2009 6:47am
well it end up with negative, im moving my sl to recent lh, and turn out market reverse, just want to give my self position to catch a runner, may be im doing this wrong, shud i go for 20/20 rule ??
  • #2,524
  • Jun 25, 2009 7:20am Jun 25, 2009 7:20am
Quoting ernest
well it end up with negative, im moving my sl to recent lh, and turn out market reverse, just want to give my self position to catch a runner, may be im doing this wrong, shud i go for 20/20 rule ??
... runners don't happened to often, better not to count on them, steady pips over many trades should give you good profit anyway.
Yesterdays big moves was kind of exception from the normal.
If you keep T/P open to catch big move, than S/L should be as the buffer to protect your winning position.
  • #2,525
  • Jun 25, 2009 10:33am Jun 25, 2009 10:33am
Quoting DareXau
... runners don't happened to often, better not to count on them, steady pips over many trades should give you good profit anyway.
Yesterdays big moves was kind of exception from the normal.
If you keep T/P open to catch big move, than S/L should be as the buffer to protect your winning position.
ahh i forget that part, the most important thing is to make consisten trade, tq
  • #2,526
  • Jun 25, 2009 9:50pm Jun 25, 2009 9:50pm
Quoting ernest
ahh i forget that part, the most important thing is to make consisten trade, tq
... that's it, you got it; if you look on the charts of fxachilies , mine or others, you should see,that we totally don't care about market going up or down;
for as long as is making swings and break-outs we are happy to jump in and out trying to earn as much as market got to offer at the moment ...
  • #2,527
  • Jun 26, 2009 4:42am Jun 26, 2009 4:42am
going long on this trade.. lets see what happens..


http://www.forexfactory.com/images/attach/gif.gif
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  • #2,528
  • Jun 26, 2009 4:50am Jun 26, 2009 4:50am
hi fxachilles,
i was too watching the setup, but declined because it was beyond 50%. i know that you use 61.8% also and i guess that you took the trade because of the sharp up move. i also that feb teaches us that we should not patronize the 50% line.

my question: in your experience does the 61.8 line is just as reliable as 50. do you generally give any indication to how the close of the candle is positioned (below the line)?

or you simply combine the line with the signs the market is giving such as this sharp move?

thank you
  • #2,529
  • Jun 26, 2009 4:55am Jun 26, 2009 4:55am
ok boys tp just got triggered for a nice profit.. don't ask me why i exited.. I had my reasons.. but it looks like a good one to trail..

Good trading.
  • #2,530
  • Jun 26, 2009 5:13am Jun 26, 2009 5:13am
Quoting mihaig78
hi fxachilles,
i was too watching the setup, but declined because it was beyond 50%. i know that you use 61.8% also and i guess that you took the trade because of the sharp up move. i also that feb teaches us that we should not patronize the 50% line.

my question: in your experience does the 61.8 line is just as reliable as 50. do you generally give any indication to how the close of the candle is positioned (below the line)?

or you simply combine the line with the signs the market is giving such as this sharp move?

thank you
Hi mihaig,
Its been for sometime that i do not play with the fibs, I only watch for L/H and H/L.
sharp moves only looks like a sharp move in the hindsight.. so i did not base my entery on that.. I simply took the trade bcz it was a 1-2-3 setup.. wanted to see if the swing will fully develop.. in this case it did.. if it wouldn't have i would have bailed out with a modest loss and then look for the next one.. scenario rings a bell .

I hope I answered your question.

Good luck.
  • #2,531
  • Jun 26, 2009 5:16am Jun 26, 2009 5:16am
great answer thank you once again.
  • #2,532
  • Jun 26, 2009 5:24am Jun 26, 2009 5:24am
i have finished reading the thread a second time. attached is a collection of posts for putting it all together i hope it helps.
Attached File(s)
File Type: doc feb.doc   192 KB | 759 downloads
  • #2,533
  • Jun 26, 2009 5:29am Jun 26, 2009 5:29am
in for the long trade again.. lets see what happens..

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  • #2,534
  • Jun 26, 2009 5:39am Jun 26, 2009 5:39am
just exited for a very little loss.. my exit decision is solely based on my intution (expactancy.. speed & rhythm).. won't count me out to reenter thou..
  • #2,535
  • Jun 26, 2009 8:39am Jun 26, 2009 8:39am
Quoting mihaig78
i have finished reading the thread a second time. attached is a collection of posts for putting it all together i hope it helps.
Thanks mihaig! Great work.
  • #2,536
  • Jun 26, 2009 8:23pm Jun 26, 2009 8:23pm
Hi Guys,

Thanks for thread this is a good system I've been demo with this system for a while so I have some question about trade management.
what do you do if you are winning trade about 5 pips then it starts to go down 4-3-2-1-0? Are you taking profit 1 pip or BE or let it goes down to sl level? sometime this system have a very big sl level

By the way I hope Feb are doing well.

Thanks

pete
  • #2,537
  • Jun 26, 2009 8:42pm Jun 26, 2009 8:42pm
Quoting mihaig78
i have finished reading the thread a second time. attached is a collection of posts for putting it all together i hope it helps.
Thanks for document That was great. feb always has very good comments( to the point)

Thanks

pete
  • #2,538
  • Jun 27, 2009 1:35pm Jun 27, 2009 1:35pm
Quoting pete.alfa
Hi Guys,

Thanks for thread this is a good system I've been demo with this system for a while so I have some question about trade management.
what do you do if you are winning trade about 5 pips then it starts to go down 4-3-2-1-0? Are you taking profit 1 pip or BE or let it goes down to sl level? sometime this system have a very big sl level

By the way I hope Feb are doing well.

Thanks

pete
Pete,
There is no set rules in regards to trade managment.. it all comes down to your feel for the market and eventually your intution.. which it gets developed by endless screen time and many many trade/expectancy practices. The answer to your question is been answered in several posts by feb through out the thread, one that come in my mind is post #2053.. I highly recommend for you to read that.

I hope it helps.
  • #2,539
  • Edited 8:40pm Jun 28, 2009 8:27pm | Edited 8:40pm
Quoting fxachilies
Pete,
There is no set rules in regards to trade managment.. it all comes down to your feel for the market and eventually your intution.. which it gets developed by endless screen time and many many trade/expectancy practices. The answer to your question is been answered in several posts by feb through out the thread, one that come in my mind is post #2053.. I highly recommend for you to read that.

I hope it helps.
Thanks fxchillies,

I will read post 2053 & feb.doc from maihaig and also your posts too.
By the way may I ask - Are you fulltime trader?
I would like to learn from you.
thanks,

pete
  • #2,540
  • Jun 29, 2009 12:45am Jun 29, 2009 12:45am
Getting ready for a new week of washing, rinsing and repeating Good practice to all.

Fxachilles, do you still use trailing stop behind the last bar? You also mentioned some while ago analysis of the 4th minute of the candle. Is that something you still use?

Feb, i hope you are alright. I haven't seen you around here for some time.
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