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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)

  • #3,261
  • Aug 3, 2009 10:39pm Aug 3, 2009 10:39pm
Quoting Ogna
Hey, I just realized that I can find entries very well but my real problem is closing a positive trade lol
any tips? im allways scared of missing a runner
Yes, there's one very good.
Just forget about runners and possibility of the runners for some time.
Stick only to the standard entry of 1-2-3 set-up with 1:1 risk/reward ratio;
build your account and confidence, in the same time your level of reading the price action will improve as well as the expectancy,
after a couple or few months you may move on to more advance stage,
but don't rush, 'cos that's a common mistake the beginners are facing.
Take one step at the time ... without jumping.
  • #3,262
  • Aug 3, 2009 11:18pm Aug 3, 2009 11:18pm
Hi guys,
I could not trade yesterday due to minor injury.. what? lol.. ya.. forex injury.. its called not being able to push any botton.. lol.. sunday night I tried to played some tennis after a long while and I tought I am still 22.. pulled shoulder when I tired one of sampar's sizzer kicks stun.. i actually could not move the mouse around nor push any botton.. unbeliveble.. lol.. it's a bit better today..

what a awsome bullish run yesterday and it looks like everyone got a piece of that.. great job.

I am so happy to hear from Feb and knowing that he is all well.. great to hear from you again my friend and great to know that you are following the thread and watching over our shoulder.. its a blessing.

Moneda,
great job with the expectancy post.. simple and profound.. great follow through comments and suggestions from DX aswell.. it should be a great help to our newbies and everyone else..
If I may add a quick note.. no one has or can master this fully.. expectancy its an a art.. and your best chance as to getting better and increasing your success odds, as my fellow colleagues already mentioned to you is, to stick with one method.. with one time frame and with one currency (E/U).. learn the behaviour and the price action on that particular currency and become expert in that with, practise practise and some more practise.. good luck.

Ok, lets make some money today..
  • #3,263
  • Aug 3, 2009 11:29pm Aug 3, 2009 11:29pm
ok.. I got in this short trade a little while ago.. lets see how it will shape up.. I have a feeling if it drops it will drop biggggggg.. but its just a feeling nothing more and I been wrong before more than I have been right..


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  • #3,264
  • Aug 4, 2009 1:26am Aug 4, 2009 1:26am
expectancy practise.. analaysing the market for myself and act accordingly.. you see my sl moving lower as price going in my favor giving me a better R:R ratio..

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  • #3,265
  • Aug 4, 2009 1:28am Aug 4, 2009 1:28am
Morning guys and good trading

I have a question about position sizing. How do you set your position size? do you go by the 20/21 rule and set position accordingly (knowing that using expectancy your hard sl will rarely be hit) or do you adjust position by the size of the pullback?

Thank you.
  • #3,266
  • Aug 4, 2009 1:30am Aug 4, 2009 1:30am
Quoting DareXau
The swing and pull-back was greater than average that time
so, obviously the initial stop-loss had to be more than a standard 20 pips,
This determined a target level within or little above 1:1 risk/reward ratio.
Personally, I don't like trailing stops (not using them at all) so, stop-loss moved manually,
after next level of Higher-Lows was achieved (fractal low)
Most of the time, I'm moving my S/L this way as described above,
when trade is progressing in favor and target is greater then a standard;
but, when entry is based on typical 20/21 I'm usually...
Good day to all of you...
Thank you very much for your continuous help Dare,
Do you set your stop anytime due to your 300% ATR(24)? or simple under the retracement low/high?
When you use a standar 20/21 pips?
  • #3,267
  • Aug 4, 2009 1:31am Aug 4, 2009 1:31am
guess what.. long now.. reason for entery? double wammy.. nothing more than the classic BB entery and fractal break this time..

lost only 8pips on the short trade..

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  • #3,268
  • Aug 4, 2009 1:39am Aug 4, 2009 1:39am
Quoting fxachilies
expectancy practise.. analaysing the market for myself and act accordingly.. you see my sl moving lower as price going in my favor giving me a better R:R ratio..
Good to see you trading live again , and even better when you point out your thinking process when you are reading price action in real time.....
Great learning tool for us from you and Dare as well....
  • #3,269
  • Aug 4, 2009 1:40am Aug 4, 2009 1:40am
Quoting mihaig78
Morning guys and good trading

I have a question about position sizing. How do you set your position size? do you go by the 20/21 rule and set position accordingly (knowing that using expectancy your hard sl will rarely be hit) or do you adjust position by the size of the pullback?

Thank you.
Mihaig,
My position size has nothing do with what market does or what my market perception is or etc.. its a way for me to detach myself from the money part of this game..
I set the size in the beggining of each month for each one of my account and I stay with it no matter what.. and the load is never more than 3-5% of my account ever.
  • #3,270
  • Aug 4, 2009 1:41am Aug 4, 2009 1:41am
yeah i am on the same trade fx

andrew
Survive & Preserve
  • #3,271
  • Aug 4, 2009 1:51am Aug 4, 2009 1:51am
chart explanation.. if you are on the ride set the sl accordingly.. your on a free ride now.. nice place to be...

nice job being on board Andrewb7..


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  • #3,272
  • Aug 4, 2009 1:53am Aug 4, 2009 1:53am
Quoting jplo
Good day to all of you...
Thank you very much for your continuous help Dare,
Do you set your stop anytime due to your 300% ATR(24)? or simple under the retracement low/high?
When you use a standard 20/21 pips?
Mostly, I'm using a standard entry 20/21, but if swings are greater than average, ... my entry changes accordingly, the same as stop-loss and target.
300% ATR(24) or low of the pull-back, ... depends on the current price action and bloody expectancy.
  • #3,273
  • Aug 4, 2009 1:54am Aug 4, 2009 1:54am
Quoting DareXau
Mostly, I'm using a standard entry 20/21, but if swings are greater than average, ... my entry changes accordingly, the same as stop-loss and target.
300% ATR(24) or low of the pull-back, ... depends on the current price action and bloody expectancy.
  • #3,274
  • Aug 4, 2009 1:59am Aug 4, 2009 1:59am
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  • #3,275
  • Aug 4, 2009 2:10am Aug 4, 2009 2:10am
ok.. its more than hiccup.. ahhhhhhhhh lets all cry together.. we're not psychics to take profit on the very top right? so taking 10pips in the middle its not gonna make us rich.. so you still wait for the price to show his reall hand.. and I know that London just open, big deal I don't care about that stuff.. it could have easily countinued in out favor for extra 40pips and make us mega bucks..
  • #3,276
  • Aug 4, 2009 2:22am Aug 4, 2009 2:22am
ok.. so two trades for me so far one -8 and second -3.. I could have easily taken profit out of each for more than 10pips if I really wanted too.. but thats not the way it will lead me to success that i want it, as how I have experienced it.. its a matter of preferance.. if you like to scalp little here and there fine you might get ahead on your bottomline by some if your really good.. but if you really want to make it big you got to bank minium of 21 pips and better, around 30 and definantly pursue runners..

waiting for the next ride.. lets see what the brits got in store for us..

i did not feel comfortable to take this fractal break in hand.. its just me and my intution..
  • #3,277
  • Aug 4, 2009 2:30am Aug 4, 2009 2:30am
i ended up getting the 21pips i was going for just, but otherwise it would have been the minus 3pips which would have been ok as well.
andrew
Survive & Preserve
  • #3,278
  • Aug 4, 2009 2:35am Aug 4, 2009 2:35am
Quoting andrewb7
i ended up getting the 21pips i was going for just, but otherwise it would have been the minus 3pips which would have been ok as well.
andrew

nice job my man.. thats a good profit.. now cross your legs open a cold one and wait for the next ride..
  • #3,279
  • Aug 4, 2009 2:37am Aug 4, 2009 2:37am
sounds like a plan
cheers
Survive & Preserve
  • #3,280
  • Aug 4, 2009 2:38am Aug 4, 2009 2:38am
ok now in as I feel more comfortable with shallow BB entery.. lets see what happens..

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