The System II (Yes with irony) | Page 140 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

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

The System (Irony included) 1,175 replies

Attachments: The System II (Yes with irony)
Exit Attachments

The System II (Yes with irony)

  • #2,781
  • Jul 17, 2009 8:18am Jul 17, 2009 8:18am
Quoting fxachilies
going the other way.. I hope you are to in this long ride..
wow guys, thats really about being fast in the brain, haha
"going the other way" .. for me I was still thinking,.. aah what a shame that this shorttrade didnt tank....
But now it makes click, when I read your lines.
Attached Image
  • #2,782
  • Jul 17, 2009 8:28am Jul 17, 2009 8:28am
... very nice and totally out-of blue ride, now I'm square with the b***ch with 20 pips in my favor ...
Attached Image (click to enlarge)
Click to Enlarge Name: eur usd.jpg Size: 92 KB
  • #2,783
  • Jul 17, 2009 8:28am Jul 17, 2009 8:28am
as you guys see now price has stoped.. deciving part has began... will you pass? lets see..


http://www.forexfactory.com/images/attach/gif.gif
Attached Image (click to enlarge)
Click to Enlarge Name: 131.gif Size: 29 KB
  • #2,784
  • Jul 17, 2009 8:31am Jul 17, 2009 8:31am
Quoting DareXau
... very nice and totally out-of blue ride, now I'm square with the b***ch with 20 pips in my favor ...
lol i can´t belive it, very nice.
  • #2,785
  • Jul 17, 2009 8:36am Jul 17, 2009 8:36am
Julias,
taking this trade as early and timley as i took its a result of paying attention to the most recent price action (whats happening now.. i explained that to you in my early post) and simply spoting a 1-2-3 setup.. practise it and you will be able to catch these waves often..
  • #2,786
  • Jul 17, 2009 8:43am Jul 17, 2009 8:43am
now i will pay very close attention when price returns around the breakout line on top..


http://www.forexfactory.com/images/attach/gif.gif
Attached Image (click to enlarge)
Click to Enlarge Name: 131.gif Size: 32 KB
  • #2,787
  • Jul 17, 2009 8:45am Jul 17, 2009 8:45am
Quoting fxachilies
Julias,
taking this trade as early and timley as i took its a result of paying attention to the most recent price action (whats happening now.. i explained that to you in my early post) and simply spoting a 1-2-3 setup.. practise it and you will be able to catch these waves often..
...I start to understand more and more thank you. And thanks guys for this
"almost live" sessions, cause its all easy to get in the hindsight, but
on live price action it needs really practise, even if one may think this is easy.
I just remember a quote from Feb, .."trading is easy and difficult."
  • #2,788
  • Jul 17, 2009 8:56am Jul 17, 2009 8:56am
Quoting julias
...I start to understand more and more thank you. And thanks guys for this
"almost live" sessions, cause its all easy to get in the hindsight, but
on live price action it needs really practise, even if one may think this is easy.
I just remember a quote from Feb, .."trading is easy and difficult."
julias,
... it's only the matter of screen-time, if you don't have indicators to grab your attention,
it becomes natural and easy to read the price and know what's cooking ...
  • #2,789
  • Jul 17, 2009 9:02am Jul 17, 2009 9:02am
ok now we are witnessing a price stall, one failure on top and one on the bottom at the moment.. I personally took profit around this area for a good $2400.. and look for the next one specially if it breaks short..
  • #2,790
  • Jul 17, 2009 9:11am Jul 17, 2009 9:11am
I'm already short, little premature, but to late to change ...
... now simply have to wait and watch ...
Attached Image (click to enlarge)
Click to Enlarge Name: eur usd.jpg Size: 98 KB
  • #2,791
  • Jul 17, 2009 9:57am Jul 17, 2009 9:57am
I hate to be a negative nancy but I seriously wonder if anyone following this method makes any money consistently. This is NOT reading price action but rather taking very minor breakouts in a time frame that has a lot of noise. Make no mistake about it, the big players don't care about the 5 min chart and they are not trading breakouts, at least not in the way this method suggests.

The "smart money" is in reading the supply and demand in the big picture - the larger time frames. Smart money is basing their decisions on major support and resistance and not in the meaningless fluctuations going on in the 5 minute chart. Trading Feb's method is a good way to get "chopped" around and ultimately lose money in the long run.
  • #2,792
  • Jul 17, 2009 10:05am Jul 17, 2009 10:05am
...seems like this is not my day, (if price hits my sl again), but I´m still on this sad longtrade....maybe its time to shut down since its friday afternoon and we could see just some profits takings before the weekend .....
Attached Image (click to enlarge)
Click to Enlarge Name: eu-5_03.png Size: 22 KB
  • #2,793
  • Jul 17, 2009 10:57am Jul 17, 2009 10:57am
Quoting TheExit
I hate to be a negative nancy but I seriously wonder if anyone following this method makes any money consistently. This is NOT reading price action but rather taking very minor breakouts in a time frame that has a lot of noise. Make no mistake about it, the big players don't care about the 5 min chart and they are not trading breakouts, at least not in the way this method suggests.

The "smart money" is in reading the supply and demand in the big picture - the larger time frames. Smart money is basing their decisions on major support and resistance...
.. thats always kind of the same discussion, My basic trading- method is
based on H1 and H4 Charts, and for me its also an experiment if this
could work, since trading the longer time frames lets you a lot of "free time".

And nobody said this is anything but noise, but I would not say that
things happening in this short timeframe are explicit different from longer time frames.

What is true, you have a lot of false signal, fakeouts, .... and things change much faster, but i see the same on the hourly on the EU at the moment. Actually there is no trading possibility for me at the moment on the EU (longer TF), caus we are just moving sideways,.. chopping around.

Personally I dont care if the money that moves the price comes from centralbanks,
Institutions, is smart or not, I just try to follow the money and whats the difference between the two Charts I attached ?? One is the hourly, one is the M5 ??
Whats the difference between a fakeout on the hourly and the M5 ? I dont know...
the question is what I do, when I´m trapped in an false/fake signal. You´ll have the same problems on longer timeframes.

Only thing you could say, don´t trade EU at the moment, because trading in range is stupid. or price reading is not working, if theres no clear bias on a currency, what is on the EU at the moment.....

Good luck
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu_m5_04.gif Size: 18 KB
Click to Enlarge Name: eu_h1.gif Size: 20 KB
  • #2,794
  • Jul 17, 2009 11:02am Jul 17, 2009 11:02am
I'm still in the same trade, only because haven't been stopped-out earlier by 1 pip;
it's definitely taking to long for the expectancy, but this is my last trade for today or rather the week;
so, another few candles and ... I'll be off ... no matter what.
See you guys next time and have a good week-end.
  • #2,795
  • Jul 17, 2009 11:11am Jul 17, 2009 11:11am
Me too, I will also close the trade now, it moved to break even now.
nice weekend.....and thanks for support
Attached Image (click to enlarge)
Click to Enlarge Name: EU_M5_06.png Size: 28 KB
  • #2,796
  • Jul 17, 2009 11:14am Jul 17, 2009 11:14am
Quoting TheExit
I hate to be a negative nancy but I seriously wonder if anyone following this method makes any money consistently. This is NOT reading price action but rather taking very minor breakouts in a time frame that has a lot of noise. Make no mistake about it, the big players don't care about the 5 min chart and they are not trading breakouts, at least not in the way this method suggests.

The "smart money" is in reading the supply and demand in the big picture - the larger time frames. Smart money is basing their decisions on major support and resistance...

ok nancy.. ya try to read what big players do and watch them dick you around anyhow they want and have your wide sl to be hit left and right in the longer time frame, ya you make a lot of sense..
smart money is on myself and my developed skill, thats it.. smart money is on myself on how i should see the market not some system or method or strategy or crutch or your suggenstion as to what big players do to tell me what to do..
you wanna know about consistency.. 650k in two weeks (and thats half speed) and no losing week for past 6 mo.. dose that do it for you..
I don't mind negativity but tell us something that we dont know or show us some results.. don't make a fool out yourself by just flapping out your mouth and diffinatly i do not apperciated you disrespecting our mentor.. flip through the thread and learn, seriously.. and witness howmany times I and feb have done live trades and made a killing, but more importantly taught people what we preach in reall time.. what do you do.. just mention couple of big words.. thats all you got?
just stay the hell out of our thread.. I can't stand guys like you.. I highly warn you to not come back with any comments, I have the authority to remove you from the thread if not FF.. we do not need this here.
  • #2,797
  • Jul 17, 2009 11:32am Jul 17, 2009 11:32am
Thanks mate for quick response to this dick-head.
  • #2,798
  • Jul 17, 2009 12:21pm Jul 17, 2009 12:21pm
Quoting fxachilies
ok nancy.. ya try to read what big players do and watch them dick you around anyhow they want and have your wide sl to be hit left and right in the longer time frame, ya you make a lot of sense.....
Relax. I never had any intentions of starting a war with my post. You clearly took it as an attack, which it was not. For that, I am sorry.

If you have found a way to make this method work then good for you. I believe that most methods can provide money to a good, experienced trader. I was just trying to give newbie traders reading this thread an honest opinion from an experienced trader (myself). Experienced traders will be buying at support and selling at resistance. Buying breakouts is a losing game in the long run.

By the way, telling me that you have not had a losing week in the past 6 months does not impress me. I have been a professional full time trader for over 6 years. 6 months is not the long run.

Happy trading to you all.
  • #2,799
  • Jul 17, 2009 3:21pm Jul 17, 2009 3:21pm
Quoting TheExit
Relax. I never had any intentions of starting a war with my post. You clearly took it as an attack, which it was not. For that, I am sorry.

If you have found a way to make this method work then good for you. I believe that most methods can provide money to a good, experienced trader. I was just trying to give newbie traders reading this thread an honest opinion from an experienced trader (myself). Experienced traders will be buying at support and selling at resistance. Buying breakouts is a losing game in the long run.

By the way, telling...

I know exactly whom you were talking to and thats what concerned me.. our newbies are in good hands and I don't want someone to come in and throws comments that dont make whole lot of sense and side track them.. you have not read the whole thread, if you had you would not have ever made such posts and i am not going to go through details.
there are a lot of full time traders that dont make crap.. so your six years of experience and being a full time trader don't mean thing.. you certainly don't possess forum etiquette that allow yourself to come a cross as how you did and making comments about our mentor.. feb is one of the most recognized guys around forums and got 18 years of floor experience as a trader in chicago pit under his belt.. he helps fellow traders out of his good will period.
so now you can understand why i took it as i did.. I don't tolerate any disrespact toward him and thats the least we can do for the man.. he has helped so many of us out of his own good heart with nothing in return.. myself and others have modeled ourselves after him to learn to give back and maybe be as generous as he has been in helping others in his absens due to illness.
you brag about being a full time trader for six years.. I bet you can not display 6 live reall time trades to prove your success.. and i bet you have not helped 6 people in the forex arean to become better traders.. if you have thats what you should be proud of.. rest its just numbers bro.
end of discussion.

good luck to you man.
  • #2,800
  • Jul 17, 2009 3:51pm Jul 17, 2009 3:51pm
Quoting fxachilies
I know exactly whom you were talking to and thats what concerned me.. our newbies are in good hands and I don't want someone to come in and throws comments that dont make whole lot of sense and side track them.. you have not read the whole thread, if you had you would not have ever made such posts and i am not going to go through details.
there are a lot of full time traders that dont make crap.. so your six years of experience and being a full time trader don't mean thing.. you certainly don't possess forum etiquette that allow yourself to come...

Forum etiquette? Seriously? I was simply voicing my opinion, something that is allowed on forums. Hell, that's all that is on a trading forum. lol

I know of no one who trades full time for 6 years and is not profitable unless they are fortunate to have inherited wealth (which I can assure you I do not). I have nothing to prove to you. I really don't care what you believe.

From your responses to me, you seem to be a young guy with a temper. Last advice: in the future you should listen to what people have to say rather than immediately jumping to conclusions and making accusations. It's not healthy and you may find out that you have more to learn about the markets.

Sorry for hijacking your thread. I am done here. Peace!
2 traders viewing now