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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)

  • #2,681
  • Edited 6:29am Jul 10, 2009 6:03am | Edited 6:29am
Quoting jplo
Hi guyz...
Do you add to wining positions or always close a trade before the next one?...
I've added a new position and trail stop loss to BE on the first one.....
I did it only on my Demo account...
What is your experience about that?
Yes, I've been trying this option, but it's really difficult when market is moving fast, ... total opposite to situation right now,
most of the times there isn't enough time to analyze properly and decide about adding to already open trade,
because your initial T/P is getting hit or your trailing S/L is getting hit; and you already looking for a fresh entry.
On another hand, when scalping I'm using 10 lots for entry, so it gives enough profit on good trades anyway.
Of course, ... on longer time-frames which are more relaxed I'm considering this very often and doing so as well.
Especially when entering trade with a small lot and this trade is nicely going your way.
  • #2,682
  • Jul 10, 2009 7:05am Jul 10, 2009 7:05am
Hi everyone,
I am glad to see the thread alive many thanks to DX, doing a great job. I am currently a little busy with some construction work at my house.. I be joining you guys soon and trade full time.

Good trading to all.
  • #2,683
  • Jul 10, 2009 7:34am Jul 10, 2009 7:34am
It's good to see you again,
hurry up with yours constructions jobs, we need you here ... a.s.a.p.
  • #2,684
  • Jul 10, 2009 10:21am Jul 10, 2009 10:21am
hello this system is not useful at all, first u ureself backtest than tell in thread.
  • #2,685
  • Jul 10, 2009 11:04am Jul 10, 2009 11:04am
Quoting shailu75
hello this system is not useful at all, first u ureself backtest than tell in thread.
This is very interesting observation, you making.
Can you, please share with us, yours back-testing results.
It may greatly improve the "system" with your help of course.
Thank you in advance. Hope to see you more often.
  • #2,686
  • Jul 10, 2009 11:34am Jul 10, 2009 11:34am
hey guys, call me lazy because i dont want to read 180 pages, but is there summary of that thread??? (maybe from the other "the system" thread, too??

regards
Per aspera ad astra!
  • #2,687
  • Jul 10, 2009 1:46pm Jul 10, 2009 1:46pm
Quoting laphoenix
hey guys, call me lazy because i dont want to read 180 pages, but is there summary of that thread??? (maybe from the other "the system" thread, too??

regards
Hi Lazy, post 689 (page 46) post 2532 (page 169) both contain summaries of Feb's wisdom and will give you a flavour of the method.

But, if you then decide that this is for you, please invest the time to read the whole thread. The trade examples and the discusion around them will really add to your understanding of the method.

The time spent translates to dollars on your bottom line - trust me.

Good luck - David
Too tired to argue. Too old to care.
  • #2,688
  • Jul 10, 2009 4:22pm Jul 10, 2009 4:22pm
Guys,
Pay close attention to the name of the thread!!! it says: system with irony. this is a not a system or a strategy or a method or whatever a fuck else that is out there.. (I don't mean to be harsh but sometimes you got to and excuse me in advance).. all you got to do is to read the first a few lines of febs first post.. he says, he is going to show us a simple way to read the market NAKED. the mission of this thread is to train your eyes to read the market without crutches.. couple of horizontal lines in effort to spot swings, pullbacks, reversals, H/L, L/H .
enteries are a way to test the market.. no more expections than that.. exits, sl, tp's are up to you to figure out for yourslef.. (practise expectancy).. you'll improve with time.. its no over night sucess.. its takes time and requires all kinds of dedication.
Some people are lazy to read the whole thread, I must say to you, you'll better off to work with a crutching systems.. bcz this is hard work.. and to the guy who says this a useless system.. you must have got your answer from the opening of my post, incase you have not got it yet here it is again.. THIS IS NOT A DAMN SYSTEM.
Anyways, it felt neccessary for me to point this out to some people.

Good trading to all.
  • #2,689
  • Edited 6:27pm Jul 10, 2009 6:15pm | Edited 6:27pm
... aren't you getting the irony and true meaning of my comment to this guy ?
... in a plain English this translates to: f***off and stick your nose into your curry dish you moron.
Sorry, maybe it's to Australian with mixture of Polish sense of humor, but can't help it.
  • #2,690
  • Jul 10, 2009 9:42pm Jul 10, 2009 9:42pm
Quoting shailu75
hello this system is not useful at all, first u ureself backtest than tell in thread.
Do you think by backtesting you'll know that a system is profitable? I have loads of system that show good result in backtest. But once it is run in forward, they're all mess up.
System II ... whatever ... a system or not ... is just an idea to help you take the market. Like fxachilies said, it is used to train your eyes to read the market naked. Then, how you manage your profit or loss, its up to you.
Compare to EA, EA will manage everything automatically. But if thing goes wrong, it will be done automatically too.

Have a nice weekend
  • #2,691
  • Jul 12, 2009 9:56pm Jul 12, 2009 9:56pm
The guy who said this was bad, is a fail, and will loose a lot of money due to ignorance.
  • #2,692
  • Jul 13, 2009 2:21am Jul 13, 2009 2:21am
The first trade of today triggered with London open, ... see how it goes ...
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  • #2,693
  • Jul 13, 2009 3:17am Jul 13, 2009 3:17am
... another quick buy, based on positive momentum ...
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  • #2,694
  • Jul 13, 2009 3:22am Jul 13, 2009 3:22am
Quoting DareXau
The first trade of today triggered with London open, ... see how it goes ...
Perfect DareXau ! I had the same entry but price moved veery slow motion
in the beginning, so I started to loose balls and scaled out too early.

How do you deal with this, if price moves so slow, specially when London opens I would expect more power, do you micromanage your trade and
what would be a sign for you to close the trade before targets ?
Thanks, .....I suppose I´m too chicken sometimes.... cheers julias
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  • #2,695
  • Jul 13, 2009 4:24am Jul 13, 2009 4:24am
Hi julias,
It's really hard to answer to your question, basically because each trade is slightly different,
it mostly depends on recent price behavior and kind of expectancy;
I cannot explain this exactly, it's something in the overall price movement ... you accept that or you don't and act accordingly.
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  • #2,696
  • Jul 13, 2009 4:28am Jul 13, 2009 4:28am
Hi everyone,
I came in to get a couple of quick trades but it looks like we got ourselves a choop monster at moment which might continue till yankees open due to lack of announcments.. but hey who knows runner might be on the way ..lol
  • #2,697
  • Jul 13, 2009 4:45am Jul 13, 2009 4:45am
Quoting fxachilies
Hi everyone,
I came in to get a couple of quick trades but it looks like we got ourselves a choop monster at moment which might continue till yankees open due to lack of announcments.. but hey who knows runner might be on the way ..lol
We all love good runners, but trading the choppy monster is a fun too,
if you remove a stress of course, it becomes very educating exercise ...
  • #2,698
  • Jul 13, 2009 5:14am Jul 13, 2009 5:14am
Quoting julias
Perfect DareXau ! I had the same entry but price moved veery slow motion
in the beginning, so I started to loose balls and scaled out too early.

How do you deal with this, if price moves so slow, specially when London opens I would expect more power, do you micromanage your trade and
what would be a sign for you to close the trade before targets ?
Thanks, .....I suppose I´m too chicken sometimes.... cheers julias

Julias,
as DX mentioned it is hard to give an answer to your question because it eventully has a lot to do with traders intuition and market feel which it develops over time.. but here is my two cent.. try to keep your expectation incheck when you enter a trader.. enteries are a way to test the market to see what happens its nothing more than that.. remove yourself from predicting.. predictions are useless specially in the short time frame such as 5m.. how fast, how slow, or whatever price dose is out of our control, at anytime anything can happen.. however, constructively what you can do is to frist of all know your R:R and your risk comfort based on how you predetermine on spreading the load for the day.. secondly, you look for H/L or L/H.. this is when you talk to the market and force him to show his reall hand.. this way you will not be decieved too quickly by the market, it comes with a risk of giving up some more pips here and there but odds of probability is on your side and you'll come out ahead on your bottomline.. it requires sound money mangament and patience.

I hope it helps.
  • #2,699
  • Jul 13, 2009 5:23am Jul 13, 2009 5:23am
Quoting DareXau
We all love good runners, but trading the choppy monster is a fun too,
if you remove a stress of course, it becomes very educating exercise ...

ofcourse i will take my shot of the break of either side, but i won't get cut in the middle of it if thats what you mean..

http://www.forexfactory.com/images/attach/gif.gif
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  • #2,700
  • Jul 13, 2009 5:49am Jul 13, 2009 5:49am
@DareXau & fxachilies

thanks guys for sharing your experience. Ya I think
its a lot about experience, specially if you watch pricemovements
for a long time you get a feeling on how the bias is and what
might happen.
And the confidence to know that if you loose this trade, the next
trade is waiting...



see my next trade, still too shy, also when the trade is already in profit
I should be more patient and poker for more profit.
(specially in this one, when price is about to break the daily high...!!
this could have been a nice runner for the daily range...damn !!

but I´ll improve this thing....cheers
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