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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)

  • #3,101
  • Jul 29, 2009 10:28am Jul 29, 2009 10:28am
i'm out for today , been a good day and took a lot of trades, missed the bearish run between 12h and 14h here local time but still positive for the day !
see you guys tomorrow
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  • #3,102
  • Jul 29, 2009 10:53am Jul 29, 2009 10:53am
Hi,
I'm sorry for not posting today, but had problems with FxPro again, which forced me to use the other platform,
unfortunately DealBook360 hasn't got the options to save a screen as (btm. gif. jpg.) picture
so, transforming a screen-shot to such formats is long process ...
I've noticed that you have been busy ... me too, trading all day long, but the outcome ... very profitable.
... six winning trades and one break even, zero pips loss ... I'm more than happy.
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  • #3,103
  • Jul 29, 2009 10:55am Jul 29, 2009 10:55am
Quoting fxachilies
ok guys this looks pretty bad at moment.. right? and in the past i would lose myself and exit at the bottom. now different story.. when i get invlove with such trades first of all I know what kind of risk I am taking and secondly I expect such opposite move and thirdly I am even ready to lose money when my hard sl is hit..
I wait for the market to show his reall hand.. price must break the L/L.....

FX,

do you still move your initial stop as price moves in your favor or are you waiting for the price to give you some indication of its intention and/or a new fractal?

thanks

boz
  • #3,104
  • Jul 29, 2009 2:07pm Jul 29, 2009 2:07pm
Quoting andrewb7
great charts & explanations paul, very much appreciated
thanks
Hi Andrew,

Glad you found them useful. Some mistakes there as you have seen, but maybe other readers of this thread can also learn from them as well as me.

I will post today`s trades shortly.
Survive and Preserve
  • #3,105
  • Jul 29, 2009 2:16pm Jul 29, 2009 2:16pm
Quoting fxachilies
guess what.. short now..

http://static.forexfactory.com/forex...attach/gif.gif
Hey Fx, Nice trading - controlling the loss and switching directions like that is really inspiring .
Survive and Preserve
  • #3,106
  • Jul 29, 2009 2:51pm Jul 29, 2009 2:51pm
Here are the trades I took today.

Trade 1 - Short 1.4154 TP 1.4134 I think I controlled this one Ok excepting the major error of leaving pips on the table due to fact there were a couple of lows in place overnight which I assumed would hold price back. Wrong assumption, hopefully lesson learnt.

Trade 2 - Long 1.4176 head fake cost me -16 pips

Trade 3 - Switched to the other side and shorted at 1.4155 - was trying to hold for the next move down but price didn`t want to break so closed for +20

Trade 4 - Long trade after nice HL setup - some movement in trade but closed for +1

Trade 5- Short trade 1.4123 - Held through the round number area and was rewarded by a further break. Took 60 pips in total.

Thanks to all for your charts and comments earlier today.
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Survive and Preserve
  • #3,107
  • Jul 29, 2009 2:54pm Jul 29, 2009 2:54pm
Quoting DareXau
Hi,
but the outcome ... very profitable.
... six winning trades and one break even, zero pips loss ... I'm more than happy.
Hey Dare

Nice trading !
Survive and Preserve
  • #3,108
  • Jul 29, 2009 4:30pm Jul 29, 2009 4:30pm
Quoting boz5
FX,

do you still move your initial stop as price moves in your favor or are you waiting for the price to give you some indication of its intention and/or a new fractal?

thanks

boz

mostly fractals.. specialy when is less volitility working in a shorter frame.. Its also my discreation and intution.. but more importantly my sl's are away from noise, i dont let it get hit often.. I had one that got hit today but it was for less than 25pips..
  • #3,109
  • Edited 6:38pm Jul 29, 2009 6:37pm | Edited 6:38pm
Hey guys,

Respect. Good trading to all. Being quick... but i trade the asian session alot for work and though id post my last 2 trade. Target blue line.

Cmon you filthy slapper.

PS - this is the aussie... same principles when she moves though.
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"If it bleeds ... we can kill it"
  • #3,110
  • Edited 7:05pm Jul 29, 2009 6:54pm | Edited 7:05pm
Note that the blue line is my TP for both positions. Therefore my average will show me about 21 pips. Stop to 8163 makes my overall risk zero now, with a 21 pip target on double my initial trade size. Minter.


UPDATE
Taken out @ 60... no harm done.
"If it bleeds ... we can kill it"
  • #3,111
  • Edited 7:14pm Jul 29, 2009 7:11pm | Edited 7:14pm
Now in the EURUSD...

in @ 31.

TP @ 50
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"If it bleeds ... we can kill it"
  • #3,112
  • Jul 29, 2009 9:18pm Jul 29, 2009 9:18pm
Quoting Ari Gold
Now in the EURUSD...

in @ 31.

TP @ 50

Ari,

would you mind explaining your thoughts as to why you took this trade? just curious what your thinking was.

thanks

boz
  • #3,113
  • Jul 30, 2009 12:28am Jul 30, 2009 12:28am
Hey boz,

I probably shouldnt have posted that because it looks like i havnt really followed along the same rules as all other trades. Not a clear swing there.

What i have done is seen a fairly clear level running through there (didnt have the level on my chart... just observed it) which shouldnt be part of the decision making process anyway.

Then i saw it broken down, pull back, and put in the highlighted fractal (again didnt have these on may charts at the time... just putting it there so you see what was going on in my head)

When price reversed hard off the lows, i just looked for a logical swing high/fractal to use as a decision making point. That is, where do i want the market to take me in. That was the level i picked. I went to market cos i cant leave stops that close with the platform i deal on, but yeah... you get the jist.

Sorry if i was off topic by posting that.

Cheers,
M
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"If it bleeds ... we can kill it"
  • #3,114
  • Edited 2:04am Jul 30, 2009 1:33am | Edited 2:04am
G'day to everyone,
First scalping trade for today and already going side-ways,
well it's definitely not gonna be as easy as yesterday ...
OK, I should not complain, target achieved ... getting ready for next shot
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  • #3,115
  • Jul 30, 2009 1:54am Jul 30, 2009 1:54am
DareXau,
I've missed this entry
Every moment in the market is unique.
  • #3,116
  • Jul 30, 2009 1:59am Jul 30, 2009 1:59am
DareXau,

You got your 21 pip. Nice shot
Every moment in the market is unique.
  • #3,117
  • Edited 2:51am Jul 30, 2009 2:12am | Edited 2:51am
... maybe the next shot in brackets ...
well, looks like big players are opting for stronger dollar, for me that's OK too, ... wherever are some pips
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  • #3,118
  • Jul 30, 2009 2:42am Jul 30, 2009 2:42am
Quoting DareXau
... maybe the next shot in brackets ...
Hi Dare are you in short at 1.4058 now and if so where is your stop ? is it around 1.4181?

Cheers
  • #3,119
  • Jul 30, 2009 2:44am Jul 30, 2009 2:44am
sorry mean stop at 1.4081
  • #3,120
  • Jul 30, 2009 2:44am Jul 30, 2009 2:44am
Good morning to everyone....
This was my first trade for today....
It finished with a 19 pips gain
Do you think it was ok the fractal reversal?, or maybe too many risky?
Blue: entry
Green: TP
Red: SL

P.D... Thanks very much Dare for your PM anwser
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