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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)

  • #3,281
  • Aug 4, 2009 2:42am Aug 4, 2009 2:42am
now my intution and experince come into play as how price is reacting around the old level lines.. don't like that wick candel fakeout.. so exited the trade for -1
  • #3,282
  • Aug 4, 2009 2:42am Aug 4, 2009 2:42am
Quoting fxachilies
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..

http://cloud.forexfactory.com/images/attach/gif.gif

Hi All,

Surely this is the absolute skill of this method, and is shown in the example by fx above - namely, control any loss that you take - as is the case here - and then switch immediately to the other side, when the signal comes in.

Great to see you doing this Real time fx. Thanks
Survive and Preserve
  • #3,283
  • Aug 4, 2009 2:47am Aug 4, 2009 2:47am
ok taking a break.. not a good session money wise.. but great learning and experince gaining.. "worth a million dollars of goods" as johny cash put it in one of his songs..

be back in hour or two.. later fellows..
  • #3,284
  • Aug 4, 2009 2:48am Aug 4, 2009 2:48am
Quoting PaulLangham
Hi All,

Surely this is the absolute skill of this method, and is shown in the example by fx above - namely, control any loss that you take - as is the case here - and then switch immediately to the other side, when the signal comes in.

Great to see you doing this Real time fx. Thanks

no problem my friends.. anytime
  • #3,285
  • Edited 3:32am Aug 4, 2009 2:57am | Edited 3:32am
Good morning all,

let's see how that goes...

...adjusted SL to be below the last low

...what a sweat

...adjusted SL to new low, let's see if it breaks the last high

...exit with a loss, did not like the behavior at double zeros
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: exit.png Size: 16 KB
  • #3,286
  • Aug 4, 2009 3:17am Aug 4, 2009 3:17am
Quoting feb2865
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,
If you'll be around, I've got a question which relates more to longer time-frame
so, I posted it in the old thread "The System (Irony included)"
Thank you.
  • #3,287
  • Aug 4, 2009 3:24am Aug 4, 2009 3:24am
G'day to all,
... first trade, same as yours -jo-
so far is not going well, but has room and time for improvement ...
Attached Image (click to enlarge)
Click to Enlarge Name: eur usd.gif Size: 28 KB
  • #3,288
  • Aug 4, 2009 3:33am Aug 4, 2009 3:33am
Quoting DareXau
G'day to all,
... first trade, same as yours -jo-
so far is not going well, but has room and time for improvement ...
me =

  • #3,289
  • Aug 4, 2009 3:35am Aug 4, 2009 3:35am
Quoting -jo-
me =
... did you exit already, eating big loss?
  • #3,290
  • Aug 4, 2009 3:38am Aug 4, 2009 3:38am
Quoting DareXau
... did you exit already, eating big loss?
Not that big, about 4-5 pips. Look here: http://www.forexfactory.com/showpost...postcount=3285

The EUR/USD travelled only about 47 pips so far, so, compared to the last days there is still plenty room to move above/below current highs/lows, BUT, on the other hand we had 3 up days, now maybe the price needs to rest... who knows?

You are still in the trade because it failed to make lower lows? Me stupid ... It's hard for me to handle such big and long (time) pullbacks, not so good for my stomach. I need more detachment!
  • #3,291
  • Aug 4, 2009 3:50am Aug 4, 2009 3:50am
Quoting DareXau
G'day to all,
... first trade, same as yours -jo-
so far is not going well, but has room and time for improvement ...
TIME! A very important part of trading. How do you determine how much time you will give to your trade? Right now we are inside a chop monster, price is not really going anywhere, so how do you determine the time component in your trading?
  • #3,292
  • Aug 4, 2009 3:58am Aug 4, 2009 3:58am
Quoting -jo-
Not that big, about 4,x pips. Look here: http://www.forexfactory.com/showpost...postcount=3285

The EUR/USD travelled only about 47 pips so far, so, compared to the last days there is still plenty room to move above/below current highs/lows, BUT, on the other hand we had 3 up days, now maybe the price needs to rest... who knows?
... well, 00's or 000's are just a number, ... same as any other and the price has to move around them all the time.
I don't think that market distinguish the difference between the numbers,
it's only some traders, who are making kind of magic from this ...
re: 3 days UP, well ... that's good, but 3 weeks UP will be better ... that happens too ...
  • #3,293
  • Aug 4, 2009 4:00am Aug 4, 2009 4:00am
I can't make my mind...to trail the stop or to move the stop loss manually. Trying both, and I will see what will work better for me.

My biggest problem is to cut the looser short. I am hoping and waiting....chicken

Exiting the trade is the name of the game. I guess that someone who know to manage the exit from the trade well, can enter in the trade with the coin flip, and still be profitable.

I am reading the whole thread again, also practicing on my demo account, hoping that I will see any improvement any time soon.

Thanks to all of you who are posting your trades, it really helps to rest of us.

Regards, Zoreli
  • #3,294
  • Aug 4, 2009 4:13am Aug 4, 2009 4:13am
Quoting DareXau
... well, 00's or 000's are just a number, ... same as any other and the price has to move around them all the time.
I don't think that market distinguish the difference between the numbers,
it's only some traders, who are making kind of magic from this ...
re: 3 days UP, well ... that's good, but 3 weeks UP will be better ... that happens too ...
Thanks for your comment. Could you also write something about the time you give a trade to develop?
  • #3,295
  • Aug 4, 2009 4:30am Aug 4, 2009 4:30am
Quoting -jo-
TIME! A very important part of trading. How do you determine how much time you will give to your trade? Right now we are inside a chop monster, price is not really going anywhere, so how do you determine the time component in your trading?
... choppy monster indeed, in very narrow range as well ...
TIME ... I reckon, that maybe a good idea is to take a break, wait for NY open and see what's going on than ...
Trade closed on target, ... but new one ... not sure
Attached Image (click to enlarge)
Click to Enlarge Name: eur usd.gif Size: 29 KB
  • #3,296
  • Aug 4, 2009 4:34am Aug 4, 2009 4:34am
Hi,

double top and double buttom. Where to go?
Every moment in the market is unique.
  • #3,297
  • Aug 4, 2009 4:48am Aug 4, 2009 4:48am
Quoting DareXau
... choppy monster indeed, in very narrow range as well ...
TIME ... I reckon, that maybe a good idea is to take a break, wait for NY open and see what's going on than ...
Trade closed on target, ... but new one ... not sure
DareXau, I think I did not state my question clearly, so I try again:

When entering a trade, how do you determine how much time you will give that trade to develop? We entered a trade at the same price, and you gave the trade time to develop, but based on what?
  • #3,298
  • Aug 4, 2009 4:50am Aug 4, 2009 4:50am
Quoting -jo-
That is not Feb style... but you can trade inside the monster:
I know, ... the problem is I've never done this when scalping, maybe always has to be that first time
... but the range is to narrow, ... maybe reduce a stop/target to 10/11 ...
  • #3,299
  • Aug 4, 2009 4:51am Aug 4, 2009 4:51am
Quoting -jo-
That is not Feb style... but you can trade inside the monster:
I'am drinking coffee and waiting... That monster scares me
Every moment in the market is unique.
  • #3,300
  • Aug 4, 2009 4:55am Aug 4, 2009 4:55am
Guys, I deleted that post because it was not Feb style and I do not want to disrespect Feb, mix up methods in this thread and confuse people.

(DareXau, the range is almost 50 pips! That is not narrow for me. When you pick the top/bottom you can easily set your SL to 5-10 pips, TP in the middle, or on the other side of the channel.)
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