The System II (Yes with irony)

hey everyone, im back some of you might remember me...
I have been trying other systems, lets just say they didnt work I shouldnt have live traded them lol.

So i decided to back to this system.

I will be posting my entries and would appreciate all the help i could get to become profitable

Cheers

Hey Jo,

Great post, chart is very clear for me.

Hi Ogna,

I would suggest reading this thread again and looking at the posts of some of the very experienced guys very closely, who use this method.. Also if possible simply follow the live or almost live trades as they come in, people are very generously posting and commenting in real time. Then keep yourself out of the pressure cooker by playing demo until you master the techniques, this will help confidence and build trust in the method.

Hope this helps

Hi Anthony,

Good trading, can you expound a little on "exepectancy skills", how are you deciding to hold and let run or simply take the standard 21 pips ?

Hi

Here are my trades for today, excepting the first trade early on no real issues.

Have a good weekend.

Hi Onga,
I'm glad to see you again.
Sorry to hear that you made some loses when trying other staff, but ...
... all systems works, it's you yourself how to make them work, so stick to one system and try to make it works for you.
Of course, we're gonna try to help you 'cos this thread is about a support.
Have a good week-end in meantime.

Thanks for the welcoming

I will try to stick to this system lol. I will start posting monday

Cheers!

Hi fellows,
Sorry for not posting the last two days of the week.. I was concentrating on my own trading.. at the same time watching you guys as the fractal issue got heat up .. its not a secret to see that everyone is becoming so obsessed with FRACTALs.. FRACATLs..FRACTALs
I feel responsible for either bringing up the fractals trading or persuing it in this thread.. but as feb mentioned awhile ago when he was around that, "its time to move this ship forward" .. so, I decided to bring my fractal charts trades into play more often.. BUT.. i also have elaborate in many posts that everyone should know there place.. if you are newbie or midterm (as moneda also touched on this a few pages ago), you need to take one step out of time and become profitable with our bread and butter.. which is two things and they are the key to your success in this way of trading:
1) 1-2-3 setup, in the 5m timeframe.
2) expectancy skill, in the 5m timeframe.

expectancy, is what makes you a consistent trader.. it keeps your head above the water at first, then as you sharpen up this skill it will start to make you more money.. we can not lose focus on that.. (as i feel whats happening in current fase of our thread).
Don't get me wrong here now.. high probability enteries are important and thats why we got the 1-2-3 setups.. you can get plenty of opportunity with just that and make plenty of money.. (buy that jack nickeslons damn Laker sit)

Now, the other high probability entery we got is the fractal..
If you guys recall in some of my old post I have mentioned that I myself use the fractal breakouts only in the case of when I really have to.. meaning if price is running away from me without giving me a chance to get on the ride so i use makets last (most recent) bottoms or tops to get on the ride with expectation that price can turn on me at anytime with a PB and i will be cut in the middle of fire maybe.. then I may have to eat a rather big loss and not become all fucked up for the rest of my trading day.. throwing coffee cups at the wall and etc.. what!! you never done that.. I have.. and I am sure some of you have to.. so quit the bullshit..see yourself not in such pictures before thinking fractal breakouts.. 1-2-3 punch is hard enough already.. fractals breakout enteries it's a riskier trading style and requires supreme confidence and excellent expectancy skill and more importantly copeing with the bigger loss than regular 1-2-3 punch.. can you do it? sure you can.. but master one and become profitable at that, then move on to the next step so you have worked the ground work properly that can lead to success.. thats all I am tring to say as a humble advise from your little brother.

now in my post 2867 I explained what fractal entery really is (please review).. and guys try to keep it simple..

Jo.. has displayed a post about fractal on friday..
he offers three figures.. figure 2&3 as to fracatls enteries.. the second one is not a fractal.. there is not a such a thing as a mini fractal.. if it is, its definantly not a high probability entery.. its a good way to get cut in the middle of fire.
The third figure is a fractal entery.. thats it.. keep it simple .

but what you guys really need to pay attention to is febs simple comments.. always keep the basics that feb has stress in the past in back of your mind.. such simple comment as:

"ENTERIES ARE A WAY TO JUST TEST THE MARKET, HAVE NO MORE EXPECTATIONS THAN THAT."

"IF AND THEN."

"HIS SURFFER ANALOGIES."

AND ETC.. READ THE THREAD AGAIN AND AGAIN AND AGAIN.. YOU'LL KNOW WHAT I MEAN.. it's worth a million $$ of goods..

if you guys truly want to know what brought me success, was nothing more than comments such as these from him.. thats what drew me to this thread and this way of trading.. pure, simple and well defined honest to the point comments with some blue prints to follow.. not so much of fancy stuff with sea of details or some magical system..

fractal enetries.. 1-2-3 enteries.. other high probability enteries.. fine there great but they are not as nearly as important as your expectancy skill. if you take away anything from this thread its that not only for currency but all other markets and businesses.

I want to mentioned something that i have held myself back manytimes from saying it, but i feel its neccessary at this point and I might get some heat or questions from you guys.. hey, what the hell I am only trying to help.. however I don't recommend for anyone to do this, i don't even myself do this nearly as often.. its just a way to get my point across..
"you can just randomly enter the market and come out ahead.. if expectancy skill is up to the par."

its outside the box.. its attitude.. but its true. I have tried it with big time money on the line to just prove things to myself. Now just imagine how good your results can be when you add high probability entery to the mix, only if you don't fall too much into details.. that was exactly my problem at first with this way of trading and with this gutsy experiment I was soon able to release myself from detail oriented mindset and keep things simple.. everything started to turnaround (like a fakeout that turns back in your favor and gives you a 30pip tp as a result of a bit of patience)..

Anyways, sorry for the long post.. i feel it was neccessary.

By the way I miss my friend feb greatly and its my great wish that he is well and healthy wherever he is.. as matter of fact I would like everyone to toast a cold one this weekend to our mentor health and well being.. cheers....

see you all Monday.

ok guys, I had some spear time on my sunday so decided to elaborate on our hot subject the Fractal enteries.

My purpose of using fractal enteries as you all should know by now is when i don't get my bread and butter entery (1-2-3 setup.. from now on I call it the BB entrery).. so, which ever one that comes into picture first I take action on it.. with knowing and excepting the fact that fractal enteries are riskier and requires more tollarant and etcetera..
now watch the friday chart.. great examples..
you see four possible enteries not counting the countiuations (just the ones that catching the wave at the first opportunity)
now the entery #2 is example of getting on the ride as early as possible based on high probable BB entery before fractal entery(gray shape).. now watch the entery #4 is a example of getting on the ride as early as possible based on high probable fractal entery before BB entery (gray shape)..
so the point is getting on the bus as early as possible based on some high probable simple structure.. which ever one that comes into picture first.. whether is the break of markets last swings tops or bottoms (fractal) or our simple BB entery.
all this said it just half the battle or even less.. then we got to work and put our expectancy skill to work which will make or break you as a trader..

in effort to clear some confusion.. the gray shape big box is just a simple example of what fractal really is: when you got a bullish swing in hand.. each time that market takes a dip and then contitues bullish.. the bottom of dip is your fractal.. when price turns bearsh and breaks the most recent one of those fractal that indicates a possible price change of direction.. your possible fracta enteris are not the yellow fractals.. they are markets point of price continuation..

I hope it helps..
http://static.forexfactory.com/forex...attach/gif.gif

Could someone refer me to a post the explains expectancy?

Thanks for clarifying a little bit more from your experience....
For sure as you said, the "bread and butter" in this threat and for us that begin to follow it is 1-2-3 setups, and expetancy skills....

How could we define expectancy?

Maybe as an inside feeling that you get, after being in front of a huge number of market situations and behaviours, that quickly alerts you that something is wrong or right only by watching price action and candles closes after your entry....?

Thanks (experienced big dogs here)for all your help to newbies and to the whole threat health........

Hi to all

I just finish with reading this great thread. From tomorrow, I will start to read it all over again.

Thanks to Feb for creating this thread and for sharing his knowledge and experience.

I am involved with forex about 1.5 years now, and I read many books, watch videos, seminars....but nothing can be compared with this thread.

This man share his knowledge with us, and he ask nothing in return. I can't see many people to help others without asking something in return those days.

Feb, my hat is off...

Also, thanks to all of you who post your charts, explain and share your knowledge with rest of us.

I will start to implement this strategy on my demo account and we will see how the results will be. Due the 9-5 job I will post my trades at evening, and I will ask for your suggestions or help. Hopefully it will help me to become profitable trader.

Regards, Zoreli

Hello,

Expectancy as define in the dictionary is the looking forward to a probable experience or appearance. Now translate that into Forex trading and we are dealing with "probabilities".... so how do we sharpen our expectancy skills? Very simply put practice...practice...practice. But you can practice inefficiently or you can practice in a way that your skills as a trader grow. One of the first requirements of efficient practice is knowing yourself which requires the capacity to think, evaluate and adjust using your brain and emotions. We come from different backgrounds and abilities. Our goals and definition of success comes in many colors. Our financial capacity also plays a realistic picture on what we can initially earn. All these things are the foundations of our work in developing the discretion that it takes to be successful in this business. Okay, so this process is not linear by any means, you are working simultaneously at different levels with all the challenges facing you as a trader. As far as the nuts and bolts of trading I can tell you from experience that sticking to one method/approach/currency pair goes a long way to simplifying things. Feb recommended the eur/usd for its low spread and price action. Another practical thing that you can do is risk management...the only way you can survive and eventually be a profitable trader is that you make more $$ than you loose, not on an everyday basis but in the long term. If you are a beginner or someone like me who is not in a position to make "the big bucks" yet you can use a broker like Oanda where you can trade for pennies per pip and treat each trade as if you were trading several lots per trade. Newcomers...please start small, many of us have lost thousands learning the hard way. By the way I don't subscribe to demo trading... imo it has the tendency to create the illusion that you are "there"... nothing takes the place of feeling the pain of loosing real $$$.

Okay, I will stop now, you probably have heard this before but I know that it takes several knocks over the head for these simple things to penetrate. Feb gave us a simple approach and in his absence you have Fxachilies and DareXau whose mentoring is a great example of unconditional generosity.

I wish all of us much success!

G'day,
... moneda, very good post regarding the expectancy, I do agree with you completely on this subject;
and personally would like to underline a few very important things which are constructing my expectancy when using Feb's "system"
# stick to one pair EUR/USD - gives plenty of the opportunities to to be in trade (short or long) with low spread
# every pair has slightly different behavior, so learning about one pair is easier and more effective
# build the expectancy based on one time-frame - each T/F has different speed and rhythm, which are changing with a time of the open/close sessions
# at first, (when gaining experience) avoid trading during important (red) newses; mark them on your chart and just observe the market reaction.
# demoing or paper-trading - is equal to bullshitting yourself, you simply can't learn without exposure to real money;
# expectancy is not a wishful thinking or predicting of future, ... it's a process of understanding the market, which never will be complete.
Good trading to all.

... it's my first trade of today and I'm glad to start this late 'cos market was not doing much, except initial jump and fall around Sydney/Tokyo open ...

Hi DareXau

I am watching same trade, just my buy stop is on 1.4238...let's see how it will work. My stop loss will be on 1.4217

Can't post my charts, since I am in the office now...

Regards, Zoreli

I am overhere guys!!
I read this thread occasionally. I just have nothing else to add on.
Keep the good work!!

If you have any questions for me, don't hesitate to ask....

Thanks for your support.

Good Karma!

G'day Feb,
I'm happy to see you, it's been awhile since you posted here or in the other threads.
I hope you are getting better.

... OK, first trade closed on target, ... I'm ready for next shot ...
... wow, that was quick ...

I am with you Dare