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We all need pivots to win..yes or not? 13 replies

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The System II (Yes with irony)

  • #2,601
  • Jul 7, 2009 8:41am Jul 7, 2009 8:41am
Quoting DareXau
Yes, I did sell; the order trigged some time shortly after Tokyo closed.
Re: other part of your question; give me a little time to dig-up in some of the recent trades (daily time-frame) to explain the reasoning behind entry/exit
Maybe it will be better to post it in SYSTEM I ... so, two different set-ups stay separeted as they are for now.
Thanks DareXau I'm looking at system I too. thanks again

pete
  • #2,602
  • Jul 7, 2009 8:44am Jul 7, 2009 8:44am
'cos you getting-up in a States so late, you missed on all the fun ...
  • #2,603
  • Jul 7, 2009 8:48am Jul 7, 2009 8:48am
Quoting DareXau
Hi Onga,
...that's already next stop ... the driver of this bus must be on some drugs ... or maybe just in a hurry ...
Hi DareXau,
nice to talk to you here...

I didn't right understand this last trade...
As far as I've understand this "System II", shouldn't the trade be like this?
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  • #2,604
  • Jul 7, 2009 8:48am Jul 7, 2009 8:48am
... no worries mate, ... joining a party?
  • #2,605
  • Jul 7, 2009 9:03am Jul 7, 2009 9:03am
Quoting jplo
Hi DareXau,
nice to talk to you here...
I didn't right understand this last trade...
As far as I've understand this "System II", shouldn't the trade be like this?
G'day jplo, nice to see you here,
Yes, the set-up you showing is perfectly correct, ... if you starting live-trade from NY open,
but 'cos I've been to this party since Sydney open, my entry was based on reversal of the swing (very typical type of entry) happens a lot.
  • #2,606
  • Jul 7, 2009 9:10am Jul 7, 2009 9:10am
Quoting DareXau
G'day jplo, nice to see you here,
Yes, the set-up you showing is perfectly correct, ... if you starting live-trade from NY open,
but 'cos I've been to this party since Sydney open, my entry was based on reversal of the swing (very typical type of entry) happens a lot.
Thanks for the explanation, but I thought it was about waiting for a 40 pips move in any direction and waiting for a pullback and for the continuation....

I also read that first moves after the open time (London, New York or whichever) were good moves, but are you trading a movement from Sydney till now....?
  • #2,607
  • Jul 7, 2009 9:30am Jul 7, 2009 9:30am
Quoting jplo
Thanks for the explanation, but I thought it was about waiting for a 40 pips move in any direction and waiting for a pullback and for the continuation....
I also read that first moves after the open time (London, New York or whichever) were good moves, but are you trading a movement from Sydney till now....?
Yes, that long, ... frankly it was waist of time ... two or three entry with promising start, but ended-up on B/E
fortunately the situation changed, so the day looks very sunny (despite it's night and a winter)
  • #2,608
  • Jul 7, 2009 9:35am Jul 7, 2009 9:35am
Quoting jplo
Thanks for the explanation, but I thought it was about waiting for a 40 pips move in any direction and waiting for a pullback and for the continuation....

I also read that first moves after the open time (London, New York or whichever) were good moves, but are you trading a movement from Sydney till now....?
hey hey hey dont use exact numbers trading is NOT an exact science, feb will tell you not to use a solid 40 pip swing. Only use is as a "crutch" and when you are ready you will no longer need crutches.
  • #2,609
  • Jul 7, 2009 10:03am Jul 7, 2009 10:03am
Hi Ogna,
Yes, I know that trading it is not a ecxact cience, so... only as crutches...

Can any of you tell me if this two pictures could be the trades for today, begining on London sesion and the posible potencial next one on pic 2 if Entry was hitted?
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  • #2,610
  • Jul 7, 2009 10:12am Jul 7, 2009 10:12am
I reckon all the fun is over for today, ... price now returned to area where started in the morning (NY-close/Kiwi-open)
so ... zero gains for someone trading of the daily time-frame,
... but somehow the scalpers are celebrating about 120 - 150 pips in a pocket.
Trade closed with 10 pips loss, ... could be easily @ B/E or in little profit, but I have to go.
See you tomorrow.
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  • #2,611
  • Jul 7, 2009 11:37am Jul 7, 2009 11:37am
Quoting jplo
Hi Ogna,
Yes, I know that trading it is not a ecxact cience, so... only as crutches...

Can any of you tell me if this two pictures could be the trades for today, begining on London sesion and the posible potencial next one on pic 2 if Entry was hitted?
This looks good all your charts look good to me I don't know about you but I took the trade and made 20 pips. You seem to get the idea. 1 thing, make sure the entry is a few pips away from the high or low.
  • #2,612
  • Jul 7, 2009 1:08pm Jul 7, 2009 1:08pm
Quoting Ogna
This looks good all your charts look good to me I don't know about you but I took the trade and made 20 pips. You seem to get the idea. 1 thing, make sure the entry is a few pips away from the high or low.
Hi again Ogna,
I took the entry too, and I've taken 39 pips of it... More or less 1/1 Stop/Target...

Ok, I know about give it 2 or 3 pips away from high/low...

One question, Do you really take any direccion movement?
I meant, is it OK to take movements up and down within the same session?....

Thanks for your help.....
  • #2,613
  • Jul 7, 2009 3:54pm Jul 7, 2009 3:54pm
Quoting jplo
Hi again Ogna,
I took the entry too, and I've taken 39 pips of it... More or less 1/1 Stop/Target...

Ok, I know about give it 2 or 3 pips away from high/low...

One question, Do you really take any direccion movement?
I meant, is it OK to take movements up and down within the same session?....

Thanks for your help.....
I dont care which direction it is so long as it is a good setup
  • #2,614
  • Jul 7, 2009 9:56pm Jul 7, 2009 9:56pm
Quoting DareXau
... no worries mate, ... joining a party?
Hi DareXau, Sure I'll join the partyHope to have some fun here

Cheers
  • #2,615
  • Jul 7, 2009 10:25pm Jul 7, 2009 10:25pm
Quoting Ogna
I dont care which direction it is so long as it is a good setup
Hi DareXau & Ogna,

I would be appreciated if you can post Good setup & specially bad set up charts ( if you guys have a chance). Becoz I've got mixed signals some day good (happy like mad) some day bad I think I need a fine tune.
By the way I do simulator test I havn't got much time to do real time test.

But anyway I will do Daily TF on real time.

Thanks,

pete
  • #2,616
  • Jul 8, 2009 12:49am Jul 8, 2009 12:49am
Quoting pete.alfa
Hi DareXau & Ogna,
I would be appreciated if you can post Good setup & specially bad set up charts ( if you guys have a chance). Becks I've got mixed signals some day good (happy like mad) some day bad I think I need a fine tune.
But anyway I will do Daily TF on real time.
Thanks,
pete
G'day pete,
Forex is like roller-caster, goes up and down all the time, actually not only forex, but a whole trading in general;
it doesn't matter if you dealing with equities, options, warrants, commodities, indices, currencies, bonds, etc. ... just name it.
This constant swinging creates the opportunities to profit from it ..., but also it is a way to loose it ... instead.
That's something which isn't easy to handle, especially from emotional perspective.
I know, ... it's bloody easy to say: "stay cool" - but it's much harder to do it, than say it.
I reckon, Feb was pointing about it somewhere in the thread, ... that cold and calculated approach to trading
and resilience to stress are coming with a "screen-time" / "floor-time" - basically experience.
I definitely remember: ... when winning don't get to excited .../... when loosing just get-up and give another shot ...
I've got this engraved on both sides of my forehead, ... you may do it as well, ... actually everyone involved with the trading, ... lets make it compulsory.
Regarding good/bed set-ups, ... well all our charts we posting are live-trades, it's hard to judge if they good or not at the time,
but when I have some spare time, than I'm going back to analyze them again from a distant and different perspective.
Good trading to all.
  • #2,617
  • Jul 8, 2009 3:04am Jul 8, 2009 3:04am
do u guy is taking this trade
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  • #2,618
  • Jul 8, 2009 3:16am Jul 8, 2009 3:16am
Quoting calvk81
do u guy is taking this trade
Good morning....

For me looks better the other way around
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  • #2,619
  • Jul 8, 2009 3:27am Jul 8, 2009 3:27am
Sorry to interrupt
As in my reading ... System II is so simple right? I quoted from the earlier post:

  1. 5Min Chart : wait for the market to have a 30-40 ticks swing at any direction
  2. Wait for a retracement
  3. set 2 horizontal lines - 1 at the beginning of the swing and 1 at the last swing high/low
  4. if the market resumes the swing, place a limit order 2-3 ticks above/ below the last swing
  5. your order gets filled. Now it's pretty much up to the market

Are those all for the rules?

Thanks for this nice thread

  • #2,620
  • Jul 8, 2009 3:38am Jul 8, 2009 3:38am
Quoting pete.alfa
Hi DareXau & Ogna,

I would be appreciated if you can post Good setup & specially bad set up charts ( if you guys have a chance). Becoz I've got mixed signals some day good (happy like mad) some day bad I think I need a fine tune.
By the way I do simulator test I havn't got much time to do real time test.

But anyway I will do Daily TF on real time.

Thanks,

pete
i show u a typical trade setup, u can call it bad cause its not a winner.
The swing was from 1.2621 to 1.2576 - 45 pips that OK for and entry
The retrace was 22 pips = less 50% also inline with the rules

Ener short 4 pips below swinglow at 1.2570 sl = 1.2598 tp = 1.2550
so what happend?
TP was not reached, this happens very often
Now its up to you how to end this trade,
- take the whole stoploss or trail the SL to give u a smaller loss.
- close the trade with little profit as soon as u see price can not make a lower low but makes higher lows insted.

Or, what i do mostly set the SL to B/E and wait for the next one.
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