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The System II (Yes with irony)

  • #2,821
  • Jul 21, 2009 2:44am Jul 21, 2009 2:44am
fx and d,
have you already entered on a long trade based on break of fractal (making it a more "advanced trade") or are you still waiting the break of swing high as per our 1-2-3 setup?

i understand the logic behind reversal/fractal trades, i am curious how you placed your order.

thanks
  • #2,822
  • Jul 21, 2009 2:44am Jul 21, 2009 2:44am
Good morning everyone,

fxachilies, thanks very much for your very helpful explanations. really helps me.
I also took the "fake-short" with a little bit unfortunate sl,....no big deal.
Long did not trigger yet, but will follow, if....
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  • #2,823
  • Jul 21, 2009 2:46am Jul 21, 2009 2:46am
also ... on the short side, the swing was less than 30 pips - how i measured it, although a good 1-2-3 setup, and i did not enter. do you still take that into account?
  • #2,824
  • Jul 21, 2009 2:49am Jul 21, 2009 2:49am
... one upsetting moment just passed out and the price is correcting itself to the up-movement ...
  • #2,825
  • Jul 21, 2009 2:59am Jul 21, 2009 2:59am
Quoting mihaig78
fx and d,
have you already entered on a long trade based on break of fractal (making it a more "advanced trade") or are you still waiting the break of swing high as per our 1-2-3 setup?

i understand the logic behind reversal/fractal trades, i am curious how you placed your order.

thanks

I am long based on fractal breakout and i place orders same as others..

for those of you that are not in this trade you can still get on the ride with the 1-2-3 punch..
  • #2,826
  • Jul 21, 2009 3:00am Jul 21, 2009 3:00am
Quoting mihaig78
fx and d,
have you already entered on a long trade based on break of fractal (making it a more "advanced trade") or are you still waiting the break of swing high as per our 1-2-3 setup?
i understand the logic behind reversal/fractal trades, i am curious how you placed your order.
thanks
... the chart explains,
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  • #2,827
  • Jul 21, 2009 3:06am Jul 21, 2009 3:06am
d and fx, thanks for the explanations.

d, what made you stick with the trade when the bottom of the first reversal was taken out - your manual exit point was lower than previous low (candle at 08:20 gmt). was it because it was within your risk tolerance/parameters or there was another more obvious point for exiting which i don't understand.
  • #2,828
  • Jul 21, 2009 3:11am Jul 21, 2009 3:11am
hey guys,
i see both the short trade & now the long trade but the swings werent more than 30 pips, do u guys consider that, i know there r no hard & fast rules but ur thoughts would be good
cheers
andrew
Survive & Preserve
  • #2,829
  • Jul 21, 2009 3:16am Jul 21, 2009 3:16am
... a bit stressful waiting for T/P to be hit, but it paid-off ...
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  • #2,830
  • Jul 21, 2009 3:21am Jul 21, 2009 3:21am
Quoting andrewb7
hey guys,
i see both the short trade & now the long trade but the swings werent more than 30 pips, do u guys consider that, i know there r no hard & fast rules but ur thoughts would be good
cheers
andrew

andrew,
awhile ago feb said he only used the 30-40 pips swings validation for some kind of frame work for newbies and now its time for us to just simply look for price to make H/L or L/H and go from there..
  • #2,831
  • Jul 21, 2009 3:31am Jul 21, 2009 3:31am
Quoting andrewb7
hey guys,
i see both the short trade & now the long trade but the swings werent more than 30 pips, do u guys consider that, i know there r no hard & fast rules but ur thoughts would be good
cheers
andrew
Hi andrew, maybe it helps if you read post 2811 what fxachilies explained yesterday. Its about joining the party as early as possible. For example today,
..the average daily range over the last days is about 110 pips, and we,ve only done around 40 pips range this morning, so if you want to catch little bit more of a move, it can pay off to enter the market quite early, before the first big move is done.
BUT this is an aggressive way of trading this methodology, you will not be able to avoid losses, cause price is much more noisy in this range.
So its your decicion, if you want to wait for "safer" entries or try more aggressivly to look for the first real move of the day...

hope fx agrees with this, cause I´m only newbie..
  • #2,832
  • Jul 21, 2009 3:36am Jul 21, 2009 3:36am
Quoting mihaig78
d and fx, thanks for the explanations.
d, what made you stick with the trade when the bottom of the first reversal was taken out - your manual exit point was lower than previous low (candle at 08:20 gmt). was it because it was within your risk tolerance/parameters or there was another more obvious point for exiting which i don't understand.
... as marked on the chart a low when in trade was higher then Lower/Lows and it was only about a half way from my allowed stop-loss,
anyway if the price possibly moved again to that level or in worse case moved lower,
I was ready to exit with a loss of 11-14 pips, but not allowing S/L to be hit.
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  • #2,833
  • Jul 21, 2009 3:42am Jul 21, 2009 3:42am
Quoting julias
Hi andrew, maybe it helps if you read post 2811 what fxachilies explained yesterday. Its about joining the party as early as possible. For example today,
..the average daily range over the last days is about 110 pips, and we,ve only done around 40 pips range this morning, so if you want to catch little bit more of a move, it can pay off to enter the market quite early, before the first big move is done.
BUT this is an aggressive way of trading this methodology, you will not be able to avoid losses, cause price is much more noisy in this range.
So...
well said my friend.
its definantly important to pay attention to the daily range, for example yesterday my 5trades during NY session was all done in the 50pip range.. so in such case you can not wait for the 40pips swings to enter, you will get toped/bottom picked.. with screen time and more practise you will be able to see these oppourtunities much quicker in any type of volitility.. its time to detect H/L and L/H.. take you shot.. go to work and practise expectancy.. then $$$$$$$$$$$ will follow.. nice and simple.

cheers..... i am enjoying a cold one at the moment specially after that nice ride with extra $2000 in my account.
  • #2,834
  • Jul 21, 2009 3:48am Jul 21, 2009 3:48am
I am.. but i am also prepared to lose money if it does not happen and breaks the fractal white line.. but hey odds of probability is on my side.. think about it..

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  • #2,835
  • Jul 21, 2009 3:59am Jul 21, 2009 3:59am
thanks fx & julias for ur responses
andrew
Survive & Preserve
  • #2,836
  • Jul 21, 2009 4:06am Jul 21, 2009 4:06am
... after recent strong and quick move up, it should stay sideways for a while,
I'm not surprised it's all happening now somewhere in the middle of last swing,
some compression of the price would be nice too, before any take-off ...
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  • #2,837
  • Jul 21, 2009 4:18am Jul 21, 2009 4:18am
ok we're in.. lets practise our expectancy for best exit possible.. you see where my semi hard sl is and my tp.. stay tuned..


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  • #2,838
  • Jul 21, 2009 4:29am Jul 21, 2009 4:29am
ok guys the differents between I and my buddy DX is that i do not predict markets next move I have completly removed myself from that long time ago.. i see a setup anywhere on the chart, after or before any occurance dont matter, i just simply take the trade and go to work and rely on my expectancy skill.. I hate to miss opportunites and i know anything can happen at anytime meaning price could breakout at anytime so i can not pick and choose.. but eveyone is got find his own style at the end and what works with his comfort level and risk tolerance.

cheers.
  • #2,839
  • Jul 21, 2009 4:38am Jul 21, 2009 4:38am
using expectancy to your advantage..
as you see i moved my sl above H/H.. now i will watch the price around the white line and wait and wont be decieved and make quick exit for the break of fractal white line.. but now things have not obvoiusly gone as i planned so i am thinking exit.. so i wait for the price to pullback a bit and exit for much smaller loss and wait for the next oppourtunity.. the only way i stay with this trade is if i get a bearish high speed price run.. so watching it like a hawk at this point and time... and if my hard sl is hit big deal.. as feb says lets all sit and cry buah buah buah.. lol
  • #2,840
  • Jul 21, 2009 4:50am Jul 21, 2009 4:50am
my communication with the market at this point..
he says i am turning and going bulish.. I say fine lets see if you can break the the fractal.. he says ok now i broke the fractal and i am countinuing to go up.. i say ok lets see how strong is you bullish fractal break.. he dont say much bcz it was not so strong.. i say now lets if you can break the high point of your recent bullish run? to be seen..
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