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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)

  • #2,981
  • Edited 5:43am Jul 27, 2009 5:30am | Edited 5:43am
Quoting moneda
Fxachilies,

Same here... the fakeout was there. If I may make a general statement.... it has been my experience with the eur/usd that price action during the 6am-7am est hour "tends" to slow down and get choppy.

..on the other hand price had a real chance to tank down,one hour ago, and was bitching around, so I agree with fx .....I want to force price to show me his real face..
hey guys ...I really start to have fun with this trading...


hmm TP too early, but next time... aahh my next learning level will be, be more arrogant and let the profits run
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  • #2,982
  • Jul 27, 2009 5:42am Jul 27, 2009 5:42am
Quoting julias
..on the other hand price had a real chance to tank down,one hour ago, and was bitching around, so I agree with fx .....I want to force price to show me his real face..
hey guys ...I really start to have fun with this trading...


hmm TP too early, but next time...

yep I got my tp at 4288.. this area is two days agos high.. so most likly price will show reactions.. and more importantly it gives me a good enough profit to bank.. then i can take some sleep then get ready for yankessss..

and I am glad to hear you say your havaing fun bcz thats what this is all about.. $$ will follow..
  • #2,983
  • Jul 27, 2009 5:48am Jul 27, 2009 5:48am
Quoting fxachilies
yep I got my tp at 4288.. this area is two days agos high.. so most likly price will show reactions.. and more importantly it gives me a good enough profit to bank.. then i can take some sleep then get ready for yankessss..

and I am glad to hear you say your havaing fun bcz thats what this is all about.. $$ will follow..
hey fx you definately deserve your sleep now, again thanks a lot for your
assisting here, its a fantastic thread and have fun with the yankeessss!!
  • #2,984
  • Jul 27, 2009 5:50am Jul 27, 2009 5:50am
here we go tp hit for 28.. i got to get some sleep.. see you all 30min before NY open..
great job you all.. nice of everyone to get involve.. it only makes us better as a whole, I learn from you guys as you learn from me and others..

cheers.
  • #2,985
  • Jul 27, 2009 6:05am Jul 27, 2009 6:05am
Quoting DareXau
I checked again, it was 1.4257 (1.42570 - five digit) spread 8 at the time, which is 0.8 pip, max. price 1.42561
so, it was really very close, much closer then it looks on the chart.
What's your broker spread?
hey dare gft is broker spread is 2 pips
andrew
Survive & Preserve
  • #2,986
  • Jul 27, 2009 6:18am Jul 27, 2009 6:18am
Quoting andrewb7
hey dare gft is broker spread is 2 pips
andrew
GFT is a good broker, I like very much they platform DealBook360
I'm using them as well, but not for scalping 'cos of the spread (no discount)
  • #2,987
  • Jul 27, 2009 6:21am Jul 27, 2009 6:21am
Quoting DareXau
GFT is a good broker, I like very much they platform DealBook360
I'm using them as well, but not for scalping 'cos of the spread (no discount)
can u suggest any other one dare
cheers
andrew
Survive & Preserve
  • #2,988
  • Edited 6:34am Jul 27, 2009 6:23am | Edited 6:34am
Quoting moneda
Good morning to all,

Just finished reading today's postings....some good stuff on trade management! Newbies, read and learn to apply the essence of what is being shared but "think for yourselves" and apply it to your particular situation. One thing that we all need to develop is the mentality of a great shooter... take for example Kobe Bryant of the Lakers.... if he shoots and misses, no problem...furgut abou it! or like Feb would say "wash and rinse"

Looking at eur/usd atm... waiting for the break of the high for London.
Hey Moneda, I remember your posts and youīve been one of the first poster in this thread I think as well. Do you still practice this methodology and "shoot" like fx and D, who master it very successful ?
Thanks and nice to hear from you....

ATR: one of the few rules for my personal style in this trading is, that I will not look for more swings in the direction of the intraday trend, if the daily range is done already, as it is for now. Av Daily Range of the last 7 days was 123 Pips and we already made 124 today. (But this is just my personal restriction to this, cause there are of course days when the range is larger, but chances are....
...but no restriction to the other way of course !!)
edit: of course excepion is when a real rally starts !!!
  • #2,989
  • Jul 27, 2009 6:30am Jul 27, 2009 6:30am
Quoting andrewb7
can u suggest any other one dare
cheers
andrew
... ah ... you're Aussie as well, I'm currently with fxpro, but about to switch to some local broker, most probably it will be Go Markets.
  • #2,990
  • Jul 27, 2009 6:32am Jul 27, 2009 6:32am
Quoting DareXau
... ah ... you're Aussie as well, I'm currently with fxpro, but about to switch to some local broker, most probably it will be Go Markets.
yeah live on the gold coast
i will have a look at both those thanks mate
Survive & Preserve
  • #2,991
  • Edited 6:53am Jul 27, 2009 6:36am | Edited 6:53am
I'm wondering if there is someone still in this trade, or just myself ...
... that wasn't for long time anyway, adjusted S/L got a punch which knock-off the trade.
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  • #2,992
  • Edited 7:19am Jul 27, 2009 6:43am | Edited 7:19am
Quoting DareXau
I'm wondering if there is someone still in this trade, or just myself ...
D, are there any conditions you would sell portions of your lots, like in this case sell half position on this third failure at the top, or do you always take profit /exit with the the hole load ??

"... that wasn't for long time anyway, adjusted S/L got a punch which knock-off the trade."
sorry for this very ugly move !

------

...I still donīt know, if this is the best way to do it, I take some profits, when price
makes a nice move for me, but maybe I cut/limit my profits this way and should wait ....
profit 4 Units with 7 Pips 1 Unit B/E....
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  • #2,993
  • Jul 27, 2009 7:18am Jul 27, 2009 7:18am
Quoting julias
D, are there any conditions you would sell portions of your lots, like in this case sell half position on this third failure at the top, or do you always take profit /exit with the the hole load ??
Yes, I did, but not any more ...
When I started using Feb's "system" then after initial successful 2-3 months I've been trying all or most of the ways "how to skin a cat"
eventually got to conclusion, that simplest is the best, so I did cut to minimum any tactical movements and sophisticated elements.
  • #2,994
  • Jul 27, 2009 7:21am Jul 27, 2009 7:21am
Quoting DareXau
Yes, I did, but not any more ...
When I started using Feb's "system" then after initial successful 2-3 months I've been trying all or most of the ways "how to skin a cat"
eventually got to conclusion, that simplest is the best, so I did cut to minimum any tactical movements and sophisticated elements.
thanks Dare, good advice, I will try to simlify as well.
  • #2,995
  • Jul 27, 2009 7:31am Jul 27, 2009 7:31am
Hi Dare,

Most informative what you are posting and FX, can you tell me you are using this system for your bread and butter right? and the longer term stuff through LFL website with different broker.
  • #2,996
  • Jul 27, 2009 7:36am Jul 27, 2009 7:36am
Quoting julias
...I still donīt know, if this is the best way to do it, I take some profits, when price
makes a nice move for me, but maybe I cut/limit my profits this way and should wait ....
profit 4 Units with 7 Pips 1 Unit B/E....
are you short on the fractal reversal? ... it may be a bit risky ...
New York open is very deceiving more then often ...
  • #2,997
  • Jul 27, 2009 7:39am Jul 27, 2009 7:39am
Quoting Kiwiian1
Hi Dare,

Most informative what you are posting and FX, can you tell me you are using this system for your bread and butter right? and the longer term stuff through LFL website with different broker.
Yes, that's correct, but I don't consider myself as full-time trader, not yet ...
  • #2,998
  • Jul 27, 2009 7:43am Jul 27, 2009 7:43am
Quoting DareXau
are you short on the fractal reversal? ... it may be a bit risky ...
New York open is very deceiving more then often ...
ok, thank you, also good advice for me.
I was short, but closed after 7 pips ...
  • #2,999
  • Jul 27, 2009 7:45am Jul 27, 2009 7:45am
Quoting DareXau
are you short on the fractal reversal? ... it may be a bit risky ...
New York open is very deceiving more then often ...
Do you trade just before NY open or you avoid it for a moment?
  • #3,000
  • Jul 27, 2009 7:56am Jul 27, 2009 7:56am
Quoting julias
ok, thank you, also good advice for me.
I was short, but closed after 7 pips ...
... maybe there are some chances to get 20 pips, I don't know,
but I know for sure, that NY open is fading the move, ... this shit is happening to often.
For that reason I've canceled my pending short and moved long to lower level.
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