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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)

  • #2,841
  • Edited 5:26am Jul 21, 2009 4:56am | Edited 5:26am
... Yes, I didn't believe in successful short, ... not yet, ... long again off-it-goes ...
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  • #2,842
  • Jul 21, 2009 5:41am Jul 21, 2009 5:41am
countinuation of my communication with market..
market say i broke the recent price high.. i said ok you might win i will see how strong is it and i might let you hit the hard sl on very top.. but then price broke low and i exited for a loss of 5pips.
conclusion:
I took my shot.. market gave me hell with all kinds of looks and decieve (its his nature and does it all the time.. its no news to me anymore) and I come out with a little hurt.. the winner of the contest its meeeeeee in the long run.

I hope it helped.
  • #2,843
  • Jul 21, 2009 5:58am Jul 21, 2009 5:58am
Hmm, if price breaks new 123 high I will buy 1/2 position (long already),
if SL hit I´ll wait a little bit for a little bit more momentum....
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  • #2,844
  • Jul 21, 2009 6:35am Jul 21, 2009 6:35am
Hi Guys,

Can I add my voice of support to the great quality of posts that are continuing in this thread. Rather than identify you all by name, you know who you all are.

I am sure there are many people like me, who generally lurk in the background, and just read and read. But you guys have kept this thread as pure to Febs original ideas.

I have been reading this thread for a good few weeks now, and I too began to test this in demo yesterday - probably not the best time. But as many of you say, it is a long term game
Just for today, do not worry...
  • #2,845
  • Jul 21, 2009 6:37am Jul 21, 2009 6:37am
Hi Fx,

I read a few days or weeks ago, that although you have had losing days, you have not had a losing week, is that still the case?
Just for today, do not worry...
  • #2,846
  • Jul 21, 2009 6:40am Jul 21, 2009 6:40am
Firstly,

Thanks to all who are posting their charts, I am aware that alot of effort is involved.

@Dare, In respect to the other charts here, I am having trouble reading your charts clearly. (It could be my system, even when I copy and paste into a word document I cannot see the detail clearly) - If I am the only one with this problem, then please ignore this post and I will remove it later in the day... and thanks for all your input
Just for today, do not worry...
  • #2,847
  • Edited 7:04am Jul 21, 2009 6:47am | Edited 7:04am
julias, it's a bit risky, that type of money management during current conditions;
This would be a nice break-out of the compressed consolidation if not happening to down-side,
I reckon some "market makers" just staffed-up the initial directions ...
faxfxfx, I know my charts aren't crystal clear, 'cos background color has reduced contrast to be more gentle for my eyes (long hours in front of the screen)
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  • #2,848
  • Jul 21, 2009 7:57am Jul 21, 2009 7:57am
Quoting faxfxfx
Hi Fx,

I read a few days or weeks ago, that although you have had losing days, you have not had a losing week, is that still the case?

yes thats still the case and it has only got better.. i have'nt even had a losing day in a long time..
  • #2,849
  • Jul 21, 2009 8:08am Jul 21, 2009 8:08am
Quoting DareXau
julias, it's a bit risky, that type of money management during current conditions;
This would be a nice break-out of the compressed consolidation if not happening to down-side,
I reckon some "market makers" just staffed-up the initial directions ...
faxfxfx, I know my charts aren't crystal clear, 'cos background color has reduced contrast to be more gentle for my eyes (long hours in front of the screen)
Well I give this one a try.If price breaks the 1.4250
Level, we could get some more ....maybe close to 1.4300
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  • #2,850
  • Jul 21, 2009 8:10am Jul 21, 2009 8:10am
are u on the ride?.. i hope so.. anything can happen at anytime and every break could be the one..

http://static.forexfactory.com/forex...attach/gif.gif
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  • #2,851
  • Jul 21, 2009 8:23am Jul 21, 2009 8:23am
you got a choise now.. you can bank 20 and be happy with that or you can risk and wait for the PB and then the breakout for bigger gain..

I simply won't give out to the market as quick as he wants me to.. I am in the driversit as i am getting free ride.. I will not lose in this trade for sure the only thing i am risking is money on the table for now.. lets see how this shapes up, stay tuned..

http://static.forexfactory.com/forex...attach/gif.gif
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  • #2,852
  • Jul 21, 2009 8:33am Jul 21, 2009 8:33am
... what the hell, I've partially missed good runner, set the order with regular S/L & T/P (20/21) and instead babysitting the trade I've been watching Tour de France.
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  • #2,853
  • Jul 21, 2009 8:33am Jul 21, 2009 8:33am
Hey I´m on the train and banked 2/3 of my position with 38 pips profit(..and I needed it)
The rest I will let go to the longer timeframe target at around 1.4320..
and sl to BE. hope you dont mind my H4 Chart
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  • #2,854
  • Jul 21, 2009 8:38am Jul 21, 2009 8:38am
if price convincingly breaks the fractal line i take my little profit and then wait for the next oppourtunity.. if price gets around H/H and acts funny I will bank bigger profit and then look for reentery.. but i hope none of these two scenario happens and I get bullish shoot up for another 30pips..



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  • #2,855
  • Jul 21, 2009 8:47am Jul 21, 2009 8:47am
Quoting julias
Hey I´m on the train and banked 2/3 of my position with 38 pips profit(..and I needed it)
The rest I will let go to the longer timeframe target at around 1.4320..
and sl to BE. hope you dont mind my H4 Chart

julias,
its cool this time (4hr chart) but we really try to stay away from other charts as it side tracks people (febs emphisis), we do everything in one chart.. we are the master of one chart and thats the 5m.
I have been watching you and paying attention to your charts.. your doing a great job and improving rapidly..

cheers.
  • #2,856
  • Jul 21, 2009 8:54am Jul 21, 2009 8:54am
fractal broke and i exited for solid $1500 profit.. staying with the game plan..

now looking to see if a 1-2-3 short setup will shape up.. i hope its not one of those straight no hiccup bearish shoot..
  • #2,857
  • Jul 21, 2009 9:20am Jul 21, 2009 9:20am
Quoting julias
Hey I´m on the train and banked 2/3 of my position with 38 pips profit(..and I needed it)
The rest I will let go to the longer timeframe target at around 1.4320..
and sl to BE. hope you dont mind my H4 Chart
julias, when scalping try to forget about other time-frames and set-ups,
... OK, the daily range is sometimes useful, the same as major support/resistance,
but generally it doesn't come to play at exact levels on 5 min. T/F
from my experience, looking for some kind of confirmation on different T/F rather
than concentrating on 5 min. is leading to confusion and misreading of current price action.
For this reason, I'm using separate platforms to different trading methods;
FxPro - scalping EUR/USD and GFT DealBook360 - other 27 major pairs of daily/4H
  • #2,858
  • Jul 21, 2009 9:25am Jul 21, 2009 9:25am
Quoting fxachilies
fractal broke and i exited for solid $1500 profit.. staying with the game plan..

now looking to see if a 1-2-3 short setup will shape up.. i hope its not one of those straight no hiccup bearish shoot..
Hi FX, can you tell me what number of losts you are trading to get that profit on this trade? and what you money management is with regards to % risk you use. Sorry is this seems a bit cheeky, but many people say different % to risk on a trade and since I know you are successful and have been trading for a long while I woul be interested to know how you deal with this side of things.

Thanks
  • #2,859
  • Jul 21, 2009 9:25am Jul 21, 2009 9:25am
Sorry meant lots
  • #2,860
  • Jul 21, 2009 9:52am Jul 21, 2009 9:52am
guys you are right, it not good to mix up with any other TF here.
My full credit to your really consistent and consequent work here.
cheers ...(EU is really funny today.....)
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