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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)

  • #3,041
  • Jul 28, 2009 3:35am Jul 28, 2009 3:35am
guys if your on this feakout trade still its exit time around the level..

playing #2 option in my 3031post.
  • #3,042
  • Jul 28, 2009 3:59am Jul 28, 2009 3:59am
got one trade going right now.
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  • #3,043
  • Jul 28, 2009 4:02am Jul 28, 2009 4:02am
fxachilies: Post 3031 is highest valuable information you´re givin us.
very concrete guidance of how to trade ....thanks

I´m short ; break of fractal and lower lows / highs....
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  • #3,044
  • Edited 4:39am Jul 28, 2009 4:04am | Edited 4:39am
... after about three hours of ranging euro moved to down-side
lets see how it develops ...
Well, development rather shitty ... 10 pips in red ...
Ready for next dance ...
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  • #3,045
  • Jul 28, 2009 4:54am Jul 28, 2009 4:54am
Quoting DareXau
Well, development rather shitty ... 10 pips in red ...
Ready for next dance ...
I had to eat the full load 17 pips in red.
Would be interesting for me: when did you exit? already point A in my chart
or did you wait for point B ??

Cheers
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  • #3,046
  • Jul 28, 2009 4:55am Jul 28, 2009 4:55am
Hello to everybody
New to this forum and very interesting. Following indicators drives me crazy.... The way You trade is most probably the easiest one, no indicators and just price action.
I see that Mr FxAchilies has two Moving Averges on His chart. I wonder why and what are the settings and how to read them. Also how You define resistance and Support in such a small time frame.
Sorry but I am still trying to learn so please a little patience.
Tanks
  • #3,047
  • Jul 28, 2009 5:06am Jul 28, 2009 5:06am
Quoting julias
I had to eat the full load 17 pips in red.
Would be interesting for me: when did you exit? already point A in my chart
or did you wait for point B ??
Cheers
at point A, I didn't like very much this first green candle and exit on the next one ...
  • #3,048
  • Jul 28, 2009 5:25am Jul 28, 2009 5:25am
Quoting ruffyn
Hello to everybody
New to this forum and very interesting. Following indicators drives me crazy.... The way You trade is most probably the easiest one, no indicators and just price action.
I see that Mr FxAchilies has two Moving Averges on His chart. I wonder why and what are the settings and how to read them. Also how You define resistance and Support in such a small time frame.
Sorry but I am still trying to learn so please a little patience.
Tanks

do not pay any attention to the two moving avg's at all.. it's just there for looks.. it has nothing to do with the way i trade.. i trade as naked as it could get..

I advise you to read the whole thread.. otherwise it would be really hard for you to follow what we do here..
  • #3,049
  • Edited 6:01am Jul 28, 2009 5:48am | Edited 6:01am
Quoting DareXau
at point A, I didn't like very much this first green candle and exit on the next one ...
thanks, good to know...

@ruffyn: I agree, if you are really interrested: read as much as you can, it takes time, and practise, practice, .........
here are just some explanations from me as a "newcomer"...

We don´t really care of Support/Resistance because actually 5 min timeframe is noise.
(There are some users, who pay attention to higher S/R Levels, like the 1.4300 Level we´re banging against during these days,)
But the initiators of this thread do not pay attention to these levels cause you never know when or if these levels get a breakout.
The Idea is to catch the move as early as possible and every breakout of the 5min can develop to the move that you dont want to miss.
So you just pay attention to the most recent price action.

But if your trade is triggert there is an aspect of observing someting
that can be considered as a level of support/resistance (like seen in my chart.)
If this "S/R line" is respected you´ll lean back and just smile, but if price
does not, its maybe youre first signal of warning. But you won´t close the trade for this. maybe you just get little bit more of a pullback.everything that follows is your expectancy of this trade then
and you can read very much about this in this thread how to act according to this topic....cheers

edit: one little thing that seems very important to me: you will not be able to trade like the old dogs here rigt away; its an art of price reading ; In other words: possibly you will start and generate losses. ..like me, ...but it gets better from week to week , its almost profitable right now for me. "this is not a sprint but a marathon."
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  • #3,050
  • Jul 28, 2009 5:58am Jul 28, 2009 5:58am
Quoting DareXau
... Euro is definitely not comfortable above 1.4300 area ... maybe not ready yet ...
DareX,

That has been a strong resistance level since the beginning of June..... of course one still deals with what the market is telling you atm but I prefer to keep significant levels in the back of my mind as I manage my trades. Feb never said that higher timeframes resistances(daily +) are meaningless.

We will see what happens....
Unus pro omnibus, omnes pro uno
  • #3,051
  • Jul 28, 2009 6:27am Jul 28, 2009 6:27am
for whatever the hell is the reason I can not pullup charts..
I am on this short trade at 4258.. lets see what happens..
  • #3,052
  • Jul 28, 2009 6:31am Jul 28, 2009 6:31am
...same shortentry...
  • #3,053
  • Jul 28, 2009 6:34am Jul 28, 2009 6:34am
me too but its a bit choppy isn't it??
  • #3,054
  • Jul 28, 2009 6:39am Jul 28, 2009 6:39am
Quoting Kiwiian1
me too but its a bit choppy isn't it??
personally, I would not give anymore room like my sl at the moment...
but thats just my personall expectaion of this trade..
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  • #3,055
  • Jul 28, 2009 6:46am Jul 28, 2009 6:46am
guys relaxxxx..lol..
pips don't come as easy all the time.. this one so far looks pretty damn good.. but guess what.. retracement is coming up at some point, you better be ready for it.. otherwise take your little profit now and be happy with that style of scalping.. but if your looking to take it to the next level and endup with runners or profits over 30+ you got to be patience and not to worry if sometimes you leave money on the table..
  • #3,056
  • Jul 28, 2009 6:50am Jul 28, 2009 6:50am
Quoting fxachilies
guys relaxxxx..lol..
pips don't come as easy all the time.. this one so far looks pretty damn good.. but guess what.. retracement is coming up at some point, you better be ready for it.. otherwise take your little profit now and be happy with that style of scalping.. but if your looking to take it to the next level and endup with runners or profits over 30+ you got to be patience and not to worry if sometimes you leave money on the table..
this is what I love to hear from you , you are absolutely right
me:
  • #3,057
  • Jul 28, 2009 6:58am Jul 28, 2009 6:58am
yes thanks FX,

I got out with 23.8 pips, probably a bit too early at 1.4235, a bit early I realise but hey im still pretty happy with that.
  • #3,058
  • Jul 28, 2009 7:03am Jul 28, 2009 7:03am
Quoting julias
this is what I love to hear from you , you are absolutely right
me:

don't tell me if you have bailed out already...lol
  • #3,059
  • Jul 28, 2009 7:04am Jul 28, 2009 7:04am
Quoting fxachilies
guys relaxxxx..lol..
pips don't come as easy all the time.. this one so far looks pretty damn good.. but guess what.. retracement is coming up at some point, you better be ready for it.. otherwise take your little profit now and be happy with that style of scalping.. but if your looking to take it to the next level and endup with runners or profits over 30+ you got to be patience and not to worry if sometimes you leave money on the table..
Fxachilies,

Right on!
Unus pro omnibus, omnes pro uno
  • #3,060
  • Jul 28, 2009 7:05am Jul 28, 2009 7:05am
Quoting Kiwiian1
yes thanks FX,

I got out with 23.8 pips, probably a bit too early at 1.4235, a bit early I realise but hey im still pretty happy with that.

nice job kiwiian.. just make sure your losses are never more than this amount either.. otherwise you will have problem with your bottomline..
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