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The System II (Yes with irony)

  • #3,361
  • Aug 5, 2009 3:06am Aug 5, 2009 3:06am
Quoting fxachilies
example of a new a fractal on the recent swing.. (gray line)..

and now my sl is right below it.. and my tp wider..

jp,
now my rr ratio is even less than 1:1..

http://cloud.forexfactory.com/images/attach/gif.gif
Thanks for sharing your views
Really helpful
Appreciate Fx
  • #3,362
  • Aug 5, 2009 3:07am Aug 5, 2009 3:07am
Quoting jplo
So, sometimes you get less than 1:1 RR, but theoretically safer because you are giving more room to the trade to unfold setting your stop far from the heat....
You said you rarely let your stop be hitted, but how do you difference between giving room to the trade and when you have to cut out the trade because it is going wrong?... Is it about your expectancy skills?
Thanks for helping

yes you hit right on nail.. it's expectancy skill and intuition.. which it develops over time by your screen time devotion and many many reall practise trades.. not some set on stone clear cut rules.. it dont work that way bcz we are in a constant changing enviroment and you can not put a square box around it as our great mentor tought me so..

dont worry.. just trust.. stick with the game plan.. risk wisley till you get the hang of things.. then success will follow..
  • #3,363
  • Aug 5, 2009 3:12am Aug 5, 2009 3:12am
hey fx , weill u close this trade b4 news in 20 minutes of keep it open & maybe have finger ready to close?
andrew
Survive & Preserve
  • #3,364
  • Aug 5, 2009 3:21am Aug 5, 2009 3:21am
Quoting andrewb7
hey fx , weill u close this trade b4 news in 20 minutes of keep it open & maybe have finger ready to close?
andrew

no I only pay attention to majors.. but i play a tigher stops.
news are 50/50.. so if i am getting a less than 1:1 rr or getting a free ride.. I let it be and make maga bucks 50% of times.. its outside the box thinking thou.. not recomended for everyone.
  • #3,365
  • Aug 5, 2009 3:24am Aug 5, 2009 3:24am
thanks fx
Survive & Preserve
  • #3,366
  • Aug 5, 2009 3:38am Aug 5, 2009 3:38am
now my sl above entery, pretty much getting a free ride.. i like these type of situations.. specialy when there is a upcoming news.. if it goes in my favor I can get a extra 20-80 who knows.. nothing for nothing there is a good chance i can bank my normal 25pip.. or still let it ride till fractals reversal its been broken..
it about putting yourself in the best deal possible.. now i got the market by its balls.. the worst thing that can happen to me is breakeven.. but we all know price will go on a run sooner or later.. there is always runners.. are you in it? thats the bottom line.. you got to be in it to win it..

http://cloud.forexfactory.com/images/attach/gif.gif
Attached Image (click to enlarge)
Click to Enlarge Name: 133.gif Size: 28 KB
  • #3,367
  • Aug 5, 2009 3:45am Aug 5, 2009 3:45am
I am the only one who get killed today on fake entries?

Just make another 20 pips loss on eur/usd
  • #3,368
  • Aug 5, 2009 3:47am Aug 5, 2009 3:47am
Quoting zoreli
I am the only one who get killed today on fake entries?

Just make another 20 pips loss on eur/usd
Post your charts.
  • #3,369
  • Aug 5, 2009 3:51am Aug 5, 2009 3:51am
yeah i ended up b/e on the trade , i thought it may have taken off but alas it didnt
Survive & Preserve
  • #3,370
  • Aug 5, 2009 3:52am Aug 5, 2009 3:52am
ok my sl hit at breakeven.. no harm no foul.. just leaving some money on the table.. its fine by me.. bcz more than often this way of trading leads me to big bucks.. been there done that manytimes..
now looking for the next ride.. it seems price has no direction at the moment its like a cat in the head lights..
taking a break.. see u in a bit..
  • #3,371
  • Aug 5, 2009 3:56am Aug 5, 2009 3:56am
Quoting zoreli
I am the only one who get killed today on fake entries?

Just make another 20 pips loss on eur/usd
ya, post your chart when i come back in a bit we will see whats up..
BUT..
dont forget losing is part of this game.. make losing part of your agenda.. now lick your wounds, shake it off and get ready for next one..
  • #3,372
  • Aug 5, 2009 4:06am Aug 5, 2009 4:06am
Quoting -jo-
Post your charts.
Hi -jo-

Will do on my next entry...

Thanks
  • #3,373
  • Aug 5, 2009 4:14am Aug 5, 2009 4:14am
G'day to all,
... it looks to me, like a yesterday never finished, still in the same shitty range of choppy monster ...
  • #3,374
  • Aug 5, 2009 4:33am Aug 5, 2009 4:33am
I guess we can all take a nap till 14:15 CET.
  • #3,375
  • Aug 5, 2009 4:40am Aug 5, 2009 4:40am
... for a moment the price action was showing more of positive move to up-side and even some momentum,
but again it was very short lived, making only false promises,
... just enough to make me to increase my profit target to the top of this channel
Attached Image (click to enlarge)
Click to Enlarge Name: eur usd.jpg Size: 104 KB
  • #3,376
  • Aug 5, 2009 4:50am Aug 5, 2009 4:50am
This is usd/jpy chart. If the price cross the red line, I would go long here..If this valid setup? My stop loss would be on 96.12...

Anyone can comment this possible entry?

Regards, Zoreli
Attached Image
  • #3,377
  • Aug 5, 2009 4:53am Aug 5, 2009 4:53am
Quoting fxachilies
ya, post your chart when i come back in a bit we will see whats up..
BUT..
dont forget losing is part of this game.. make losing part of your agenda.. now lick your wounds, shake it off and get ready for next one..
Hi fxachilies

I am not forgeting this, but for the moment, I have more losses on my agenda thatn anything else... :-(

Hopefully your and other people help here will help me to overcame this problem.

Thanks, Zoreli
  • #3,378
  • Aug 5, 2009 4:59am Aug 5, 2009 4:59am
Quoting zoreli
This is usd/jpy chart. If the price cross the red line, I would go long here..If this valid setup? My stop loss would be on 96.12...

Anyone can comment this possible entry?

Regards, Zoreli
Your stop should be below the last low, so in the 95,04 area. This setup looks ok, just ok to me, I would probably not trade it (but I am also not used to USD/JPY). Stick to one pair first, here in this thread, we are trading EUR/USD only. It will give you enough setups per day. Take one step at a time.
  • #3,379
  • Aug 5, 2009 5:08am Aug 5, 2009 5:08am
Hi -jo-

Thanks for your advices. I will stick to eur/usd...
  • #3,380
  • Aug 5, 2009 5:24am Aug 5, 2009 5:24am
Quoting DareXau
... for a moment the price action was showing more of positive move to up-side and even some momentum,
but again it was very short lived, making only false promises,
... just enough to make me to increase my profit target to the top of this channel
Are you still holding that trade? It's been already 2,5 hours. I know that the price did not make lower lows, but also no higher highs. Would you consider exiting now, since it is taking so long, or, waiting for lower lows?
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