The System II (Yes with irony)

First trade of the week triggered after London open ... long for now ...

Good morning.
Hope you´re still in the longie,.. looks like a runner. ....good trading.

That's right, the trade still going 'cos adjusted target, but ready for the next shot as well ...

Guys,
I am not going to make any more replies to this guy bcz he just simply don't get it and its a waste of my time and others.

I want to elaborate a bit to you guys about the benefit of our way of trading here and the rest..

The benefit of trading febs system II w/Irony vs others, longer time frame following long trends and etc..
first of all its all about pereference..
5m charts is noise, true.. but what it does it gets you in the trend to be a lot earlier than longer time frames.. it gets you in before its dead.. a lot of solid 80-100 pips trends that you can easiely get in and bank a bunch verses 1hr time frame and above that very trend is either just shaping up or its has already died and you endup getting toped off.. so the end result,
1hr chart:
a) need much bigger account and much bigger sl/tp.
b) you may never even get on the trend for quiet some time.. less signals.
c) if you do enter premature a bit you most likley will get toped off.. need much more patience to pass hurdels results in bigger losses.

5m chart:
a) smaler sl.
b) you get it in the trend to be, as early as possible.
c) your able to get the full ride if it countinues and endup with mega bucks, or if its short lived, a typical swing (30-50 pips) you still endup with $$.. your in the driversit bcz of you early entery.

I don't know about you guys but i feel i will be getting the benefits of both world with the 5m chart.. however there is a backfire..

the backfires are the: fakeouts and very short lived swings (less than 30pips).
to fight this.. thats when feb has come in and in many post masterfully helped us in the most reall and honest way to handel such hurdle.. his emphisis are: use expectancy (trade must go your way in a reasonable timetable, speed and rhythm.. detecting H/L's L/H's, forcing the market to show its reall hand and not to be decieved to early.. spreading the load wisley and use the 1:1 or less RR, so you could take more chances often without getting hurt on one or two unseccessful trade and coming out ahead on your long term bottomline.. except losing as part of your agenda bcz you will lose in this market regardless.. keeping your expectations incheck out of each entery, enteries are no more than just simply testing the market to see if that swing will develop into a full swing or a runner.
now i know you will say this is not cut and dry set rules.. i understand that and i respected.. but i got news for you.. like feb says, in such enviroment(market) that anything can and will happen at anytime you can not put a squre box around it.. so, its best for us to stick with most recent price action as an a indicator by testing the water when high probabitlity enteries are spoted and keeping it simple by useing the IF and Then analogie.

Guys.. feb's way of seeing the market in its true word has changed me as a trader and has turned me into a very profitable earner.. this shit seems easy to me right now that you won't believe it, and its becoming boring, I am still learning and adupting, but more importantly what i have grasped it's a life long skill and as long as there is a market i will make money without a doubt.. and there are many others who like myself followed the thread religiously, dedicated themselves and really grasped the idea are also very successful..
now some of us who like myself feel fortunate would like to give back and make others learn and taste the success and be on there way to financial freedom.. I could just be a regular guy like a silent watchers and have more time and consentration to my own trading and not care.. so what i preach and my live trades are for heping and teaching purposes and nothing more or less, period.
from now on if i see there is interest enough from you guys then i will make myself available to help out in anyway i can and do live trades upon your requests.
sorry for the long post.

Good luck everyone.

Thanks FX, may be a long post, but also long on sense.

Additionally, yours and DX's charts have really posted the way.

With the EU ranging as it has been for the last few hours, what do you reckon is best? Take each break and accept the losses to be first on the bus or sit on your hands, wait for a clean breakout followed by a pullback to give a classic 1-2-3 entry?

Or does it really come down to personal attitude to risk and what you're comfortable with?

Cheers.

nice trading! just to understand is there a reason why the first trade of the day was not the trade initiated by the 07.05 GMT candle which broke the lows of 1.4150-1.4151 by more than 2 pips?

hi fxachilies and all, i could not have said this better. (my english is a bit poor)i trade the m5 EURUSD more than 4 years tried all setups and most of all indicators i could find. I dont say that this setups do not work, no its almost up to the trader if a setup works for him or not. Point is: you realy dont need al this sofisticated stoff, simple PA, Highs and Lows and waiting waiting waiting thats all u need

Yes, I totally agree with you on every point of your last post,
especially that it's just a wast of time on replays to ignorants,
who putting they two cents without reading and understanding this thread;
on another hand is hard not to respond to some false pretenders or other idiots.
This "system" works for me excellently and I'll be always grateful to Feb for sharing his knowledge and experience with us.
Good "naked" trading to all.

anthony500,
... actually it was down 5 pips; this 1.4150 level established about Wellington close,
because of the morning small rally after Sydney open, and then price action within a narrow range
I wasn't considering any shorts, at least until I'll see some convincing movement down:
a full swing to downside 30-40 pips or more and then a kind of continuation of this move.
I didn't wont to enter into false break-out, and was ready to miss the possible trade; there is always a next one to go for it.

... short at the moment, but not truly convinced if this is going to be a successful trade ...

its attitude.. spreading the load and comfortleve is super important as well. two ways you can handel such low volume ranging market.. one, you can sit on your hands and not to trade until you see a breakout and try to get on the ride in later stages if oppourtunity is given by choosing that style you must obay to not get involved in the middel of the first breakout and cut in the middle of fire as feb says, you must expect the missed oppoutunity due to being more conservative and just watch.. two, you can decide to trade each break bcz you don't want to miss any oppourtunites, by choosing this style you must also obey the following aswell.. a) you must have been coped with excapting losses.. b) you must take every break.. bcz each one has the chance to be the one reall breakout that your looking for.. 3) most important of all, you must use the best trade expectancy (resonable time table, speed, rhythm).

what i do personaly is the second way.. why? 1) i don't want to miss any opportunities bcz when i do it leads me to get in the ride late.. so i know myself and my own attitude.. 2) with each entery i want to put to work my trading skill as to how i trade manage it .. useing the best expectancy for each uniqe situation so eventually i get to see and experince every or most market moves and my reaction to it.. its like a game to me.

I hope it helps.

Hi,
I could only trade the NY session due to lack of time and I just finished my trading hrs about an hour ago and this is my chart for the day.
the reason i am displaying my chart is to a contiunes reply to davidb's question about ranging market and so fort..
as you guys see i had five trades in a 50pips top to bottom ranging maket and was able to not lose any money and even make some but more importantly being available for each ride if it was destain to be the runner that i was looking for and come out ahead without it..
so, a live example of taking each break and still make money in such low volatility with correct or better use of expecancy skill.. but just imagine howmuch you can make when market really let lose..
enteries:blue shapes/ exits: yellow shapes
http://static.forexfactory.com/forex...attach/gif.gif

hey guys,
fx & dare thanks for ur chrats & constant input into helping everyone on this thread, i m truly grateful, i have just come back from holidays, so from now on i will be here listening & trying to help out as well.keep up the great work
andrew

Thanks FX and Dare,

I appreciate your constant input here, FX re your chart of trades for today, I note your stops must have been over say 20 pips on several pips had gone into profit. Interested to know how you decide to move your stop if price comes back to loss after it has moved into profit by say more than 10 to 20 pips.


Also as an aside for fx and dare I notice you both use fxpro mt4, i am looking to change my broker and like the look of them how would you rate them?

Thanks and keep up the great posting guys

G'day Ian,
Re: FxPro it's generally OK, but occasionally I have some problems with the platform, especially during important news data announcements and busy trading about that time;
it takes sometimes little bit to long for the orders to became accepted, comparing to other brokers.
Also 'cos they haven't got the office in Australia it takes definitively to long for money transfers (over a week and on couple occasions nearly two weeks)
I'm very happy with my other broker: GFT and they platform DealBook360, which I'm using for everything else except EUR/USD scalping.
If you looking to change your broker and prefer to continue using MetaTrader4, consider someone who has office locally, try this link: http://www.gomarketsaus.com/home
I'm moving my account from FxPro to GO Markets very soon.

G'day to all,
... EUR/USD is a little crazy at the moment, relatively big moves in both direction, but one of two entries will trigger eventually ...

Sure does, your answer and the following post with the chart give good clarity.

Thanks, D.

... short was very short-lived, exit with a loss of few pips, now long on fractal reversal, S/L & T/P little bigger 'cos of ATR ...

I am with you on this bro.. lets see how the long fractal breakout will shape out..

http://static.forexfactory.com/forex...attach/gif.gif