The System II (Yes with irony)

I also caught that trade.
Nicely done ... 20 pips out

testing the market on this short setup...


http://www.forexfactory.com/images/attach/gif.gif

Yes, the short looks more probable option, but I'm keeping both possibilities open ...

Well done! i took the same setup but get out a bit to early at 55...... only 9 pips for me :/

Yes, ... trading this ranging market is difficult, you never sure what step will be next ...
is it better to take profit now (couple pips shay of target) or perhaps wait for little longer ...
This time it paid of to be patient, but next time ... I may be less lucky ...

... next short just kick in ...

got this one but exit to quickly, just manage to get 1 pips

ok guys,
I am not able to babysit my trades at this time as i got construction going on at my house.. I would have trail this to death.. overall i manged to get 30 pips as my tp was triggered when i was away from screen.. but go ahead and look at my chart explanation.. if the fractal and paying attention to H/L and L/H sits well for you this is how you should have mangaged this trade.. as you see you could have trail this without much of risk and pretty much would have a free ride so far.. it requires a bit of patience and not have much problem with leaving money on the table sometimes.. more than often price will turn and go your way and thats how you catch runners.
overall great job everyone.. any questions let me know.. I be checking my screen in 20 min.
http://www.forexfactory.com/images/attach/gif.gif

Me too. I got a positive trade want to report here and miss a trade to take ... my baby was crying a lot. I lost all my concentration
By the way, I look at the current chart. If I have this setup, do you think it is okay if there is a pause in the middle of the quick trend?
Any consideration for this?
Thanks.

I am at long EURUSD now.
I hope it's still fine. After I opened the trade, I just knew that there is big resistance ahead. I think I should be more carefull next time

My break on EURUSD is still not doing well.
EU is ranging now and my trade is -11 pip
Comon ... break UP please

Ok, that's it. I close by +5 pips
EURUSD finally manage to go up and give me some profit. Lucky for me.
and beside, its already 2 am here. So sleepy.
Good nite everyone ...

It's over a month since EUR/USD are moving sideways in the range of about 150-250 pips per day;
This "system" isn't design to trade in such condition, but surprisingly I'm managing to make good profit,
so, I wonder what it will be, when it breaks-out of the consolidation and keep going in one direction.
... Mega profit perhaps ...

Thanks for the referal form Hectors site, I have read all this thread and can see the sense behind this method,

Can I ask is this your main bread and butter for short term trading now, as from the thread it seems you are active every day with this method.

Also do you or anyone else trade this method on G/U as well as E/U? if so how do you find it works for G/U.

Cheers Kiwiian

I have also noticed if you wait for entry until candle closes then often price has moved a long way towards target. do you enter on candle close or are most of you entering as soon as the entry price is hit?, I recall Feb saying something about waiting for candle/bar closure before entering - but so much on this thread I am not sure now.

Appreciate your thoughts

cheers

@DareXau, ...that was reeally cold-blooded to trade to the top and back down the hole ride. you profit from this hole senseless move. I suppose you must have had a really big smile on your face after closing the second trade.congrats!
I just made my shy trades....

Kiwiian,
No need to wait for candel to close.. keep it simple and dont fall into too much of details it will lead to second guessing and missed oppurtunity.. spot a setup, set your orders 2-3 ticks above/below plus spread and your on your way.. once you are in, do your best to practise expectancy that has been stressed so much in this thread by feb and myself.. that is your key to success in the way of trading.
(expectancy= trade must go your way in reasonable time, speed and rhythm).

good luck.

For new guys of this thread that just getting the hang of this way of trading, I want to point out a example that came out today and keep you aware of it.. 1-2-3 setup is our bread and butter, but once you get a good feel for that and as your screen time gaining you'll start to see other oppourtunites.. today DX demonstrated a trade that it was based on fractal breakout (blue shape).. him and I and some of the older guys of thread are experienced enough to take such trades and trade manage it well.. taking such trade requires exceptional trade mangament with dicsipline being its core and closing a trade with small loss would not be a problem and won't effect your confident so you'll have the courage to do it again and again.. this develops with long hours of screen time devotion to know how to handel such entery when things go wrong as to when to exit.. so my suggestion is to newbies, at first stick to 1-2-3 setup and get really good at that and become profitable.. you'll get plenty of oppourtunity with just that setup belive me, atleast 3 solid one today so far (gray shapes).. then as your skills improves you can move to get to other setups such as this one.. then you can really score big consistently even on daily bases.. BUT you got to take one step out of time and build a solid zero ground foundation to be successfull for longtime in this market.
By the way when i say market you know what i'm reffering to?.. our goal is to be the master of one time frame and that is the one and only 5m chart.. yes baby nice and simple.

Get on the bus .. good luck

http://www.forexfactory.com/images/attach/gif.gif

i am on this trade, let see how pip will go

G'day Ian,
Sorry, I wasn't able to answer earlier, because trading today become so intense, I have to babysit them almost constantly.
Yes, it's my bread and butter or rather should I say a croissant with ham and chess and fresh avocado for breakfast then a lobster for lunch.
I didn't try scalping the "cable", but can imagine it would be very similar experience.