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The System (Irony included)

  • #1,081
  • Aug 4, 2009 9:25am Aug 4, 2009 9:25am
Longer time frames, you pretty much wait until you get an oposite signal. You can trail your stop and everything. You need to excise patience and just wait for the market to do it's thing as opposed to fast trading. Use ligther load and relax. The system I is pretty much based on fractals.

If you're using a long/short term aproach, I suggest to pay close attention to your load(s) Try to go ligther on the long term and heavier on short term. Remember , all it matters in the bottom line at the end.

hope it helps.
Peace
  • #1,082
  • Aug 4, 2009 11:12pm Aug 4, 2009 11:12pm
Quoting feb2865
Longer time frames, you pretty much wait until you get an opposite signal. You can trail your stop and everything. You need to excise patience and just wait for the market to do it's thing as opposed to fast trading. Use lighter load and relax. The system I is pretty much based on fractals.
If you're using a long/short term approach, I suggest to pay close attention to your load(s) Try to go lighter on the long term and heavier on short term. Remember , all it matters in the bottom line at the end.
hope it helps.
Yes, thank you Feb,
The above comments helps me to stay on a right track, because it's all I'm doing in regards to the long term trades
# Using smaller load (only 2, scalping 10)
and any type of trades
# I've learned to be patient (before trade and during trade)
# Following fractals and paying attention to H/L, H/H, L/L and L/H
# Achieved very relaxed state of mind with a grate comfort regardless of the outcome (there is totally no pressure at all)
Basically I can say, that in last year following yours instructions, I've become much better trader and had more success,
then in all my combine trading years together (10-years, started trading in 1998)
OK, it wasn't so intense and frequent as the last year, but still it's a bit of time and quite a number of trades.
Anyway, thank you again and hope to see you posting more often,
it would be fantastic if you could show some of yours recent trades with a comments about decisions, market observations, etc.
Kind Regards,
Darek
  • #1,083
  • Aug 5, 2009 6:07am Aug 5, 2009 6:07am
Quoting DareXau
Yes, thank you Feb,
The above comments helps me to stay on a right track, because it's all I'm doing in regards to the long term trades
# Using smaller load (only 2, scalping 10)
and any type of trades
# I've learned to be patient (before trade and during trade)
# Following fractals and paying attention to H/L, H/H, L/L and L/H
# Achieved very relaxed state of mind with a grate comfort regardless of the outcome (there is totally no pressure at all)
Basically I can say, that in last year following yours instructions, I've become much better...

Remember this - Long time "frame" trading is more an investment style than anything. You must dance the song of the market and play accordingly. Trades are few and far away. The making money process is slooow but steady. In my humble opinion, despite all the turmoil, EUR/USD is a very stable instrument for investing.

You know, it's all a matter of preference. Some people think that there's only one(1) way to make money in this business and that's wrong. Actually, I have a lot of fun (yes I trade for fun, this is why I am not inetrested in writting a book or do private mentoring.) diversifying my positions.

I am not posting as much ,'cause I went back to my full-fledge trading. I am doing little coaching to some of the guys on the pits and it keeps me quite busy lately. But I check this site from time to time . I will post some charts very soon.

You guys are doing a terrific job on the threads. I feel grateful for that.

Keep on truckin'

Good Karma
Peace
  • #1,084
  • Aug 8, 2009 8:19am Aug 8, 2009 8:19am
Quoting feb2865
Remember this - Long time "frame" trading is more an investment style than anything...
You guys are doing a terrific job on the threads. I feel grateful for that.
Keep on truckin'
Good Karma
Feb, thank you for a quick reply and good words regarding the activities on the threads;
... but, it's a pleasure to participate in good work which you started and continue to follow, always ready to assist and help.
About a long time-frames and investment, that's the essence of the successful approach.
Yes, ... without this simple view many traders are basically lost.
Lucky for my, I do understand this now, but had to learned in a hard way, ... time ago.
I look forward to see some of yours charts and comments,
in a mean time, I wish you a lot of good fun and even more of good health.
Darek
  • #1,085
  • Aug 13, 2009 2:44am Aug 13, 2009 2:44am
Hi *,

Today we'll probably end up with a reversal bar on the daily chart. Although the retracement was kind of deep, I think the trend is stable.

This is probably obvious to you guys. I'm just seeking confirmation from the community ;-)

Have a nice day, everyone!

Regards,
beam
  • #1,086
  • Aug 14, 2009 1:47am Aug 14, 2009 1:47am
Quoting beam
I'm just seeking confirmation from the community ;-)
Yesterday really did produce a reversal bar, so I took the trade this morning at 1.4272 with a TSL starting at 1.4086.

Thoughts on this, anyone?
  • #1,087
  • Aug 14, 2009 2:21am Aug 14, 2009 2:21am
Hi,
im also long in EU from yesterday but but today i dont see a signal to go long
Maqybee it depends on the broker u using, i dont see a reversal bar on daily

Edit: excuse me , now i see whats ure reversal bar. I took the long cause of the doji and inside bar the day before
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  • #1,088
  • Aug 14, 2009 12:29pm Aug 14, 2009 12:29pm
Quoting MJurban
I took the long cause of the doji and inside bar the day before
I'm following you on the inside bar formation, but what's doji? I can take a wild guess at Dow Jones Index, but then again, I'm maybe making a complete fool out of myself

At what price did you enter? And what did the chart look like at the time?

Anyway, I'm not especially happy with my own entry. Last night (CET) I decided that I would place a limit order to buy at exactly 1.4254 (in the middle of the reversal bar), but this morning I got afraid to miss the train and entered at 1.4272. But I will let the trade handle itself. Today has been pretty quiet, since it's friday, I guess... My TSL is now at 1.4122 (started at 1.4086).

Still not sure 'bout my entry strategy. Having a day job and all, I need to decide without being able to monitor sell rallies on lower time frames.

Have a nice weekend! And hope you can bare with me and my sometimes stupid questions and posts.

Regards,
beam
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  • #1,089
  • Aug 15, 2009 5:42am Aug 15, 2009 5:42am
Quoting beam
I'm following you on the inside bar formation, but what's doji? I can take a wild guess at Dow Jones Index, but then again, I'm maybe making a complete fool out of myself

At what price did you enter? And what did the chart look like at the time?

Anyway, I'm not especially happy with my own entry. Last night (CET) I decided that I would place a limit order to buy at exactly 1.4254 (in the middle of the reversal bar), but this morning I got afraid to miss the train and entered at 1.4272. But I will let the trade handle itself. Today...
This is was a doji.

My entry was from the H1 Chart the next day. I usually dont post entries here in the Thread cause i do not exactly follw the System I rules.

I mostly trade System-II for short term kind of scalping, but i let same smaller Position stay for a long term investment trade. For this i use different Brokers , like yesterday i tookk small shorttrades from the important 1.4300 level and still holding my log positions.

As i like the idee of tradintg without any Indicators and im also very much interesting in trading the h1-h4-D1 Charts i will read the Thread again and try to put some trades up here according to the System I rules next week.
c u
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  • #1,090
  • Aug 15, 2009 12:18pm Aug 15, 2009 12:18pm
Quoting MJurban
This is was a doji.
Quoting MJurban
As i like the idee of tradintg without any Indicators and im also very much interesting in trading the h1-h4-D1 Charts i will read the Thread again and try to put some trades up here according to the System I rules next week.
c u
Thanks for the explanation of doji. Of course I should have done a little research of my own before asking. Sorry 'bout that.

And yeah, it would be great if you posted some of your trades.

beam
  • #1,091
  • Aug 17, 2009 10:07pm Aug 17, 2009 10:07pm
as long as the ascending Trendline is not broken, i see EU still long on daily and weekly.
Short term, there is reatracement and there is still room to the 1.4000 area.
But i can be totaly wrong cause i m a short term scalper who tries to learn how to trade the longer Time Frame charts like H4, daily and weekly
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  • #1,092
  • Edited 9:14am Aug 18, 2009 6:28am | Edited 9:14am
Quoting MJurban
as long as the ascending Trendline is not broken, i see EU still long on daily and weekly.
Short term, there is reatracement and there is still room to the 1.4000 area.
But i can be totaly wrong cause i m a short term scalper who tries to learn how to trade the longer Time Frame charts like H4, daily and weekly
Hi MJurban & beam
Firstly, don't pay attention to the "buy" on this chart 'cos it's from 5min/scalping,
but anyway that could be a good entry for inside a range trade - just noticed...
Yes, the E/U are acting a little funny for last few weeks, but any ranging has to come to the end eventually.
I hope it's not far a way, once the holiday season will be over, we may see a nice break-out to the up-side,
of course if this pair is going to continue that up-trend ... if not, then there is a level of 1.3800-1.3750 to be broken.
I'm more convinced about the price going up, pass 1.4400 and shooting higher, rather then heading south, but everything is possible.
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  • #1,093
  • Aug 18, 2009 2:37pm Aug 18, 2009 2:37pm
Quoting DareXau
I hope it's not far a way, once the holiday season will be over, we may see a nice break-out to the up-side,
of course if this pair is going to continue that up-trend ... if not, then there is a level of 1.3800-1.3750 to be broken.
I'm more convinced about the price going up, pass 1.4400 and shooting higher, rather then heading south, but everything is possible.
Yeah, who knows. We maybe should look for another market until then?

Regards,
beam
  • #1,094
  • Aug 19, 2009 8:15pm Aug 19, 2009 8:15pm
eurusd still in the retracement channel.
A test of the trendline would be nice and would give us a point 3 for a 1-2-3 formation.
Without the point 3, a break of the channel to the upper and a continguation of the long trend is possible
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  • #1,095
  • Aug 19, 2009 11:42pm Aug 19, 2009 11:42pm
FYI

Way ahead of time(August)......December is usually a crazy month.

Pile up some cash now if you're not willing to play with the storm.

Just a Reminder!!!
Peace
  • #1,096
  • Aug 24, 2009 11:28pm Aug 24, 2009 11:28pm
Quoting feb2865
FYI

Way ahead of time(August)......December is usually a crazy month.

Pile up some cash now if you're not willing to play with the storm.

Just a Reminder!!!
Thanks Feb!

And yeah, it's time to get bored.
  • #1,097
  • Sep 7, 2009 3:15am Sep 7, 2009 3:15am
Quoting beam
And yeah, it would be great if you posted some of your trades.

beam
im still not able to trade the system I. i always fall back to the m5 charts take profit from the m5 charts like System II. Im realy not ready for the Sytem I. no confidence in the longer move. its a shame i dont know how to handle this
  • #1,098
  • Sep 7, 2009 8:30am Sep 7, 2009 8:30am
Quoting MJurban
im still not able to trade the system I. i always fall back to the m5 charts take profit from the m5 charts like System II. Im realy not ready for the Sytem I. no confidence in the longer move. its a shame i dont know how to handle this
If you're trading EURUSD with System I, it's a good time to stay on the sidelines for a while, like Feb said a couple of posts ago. There's no real trend on the daily charts these days.

While waiting for a good trend, I trade with Jacko on the 4h and it's working out just fine. (My new trading journal reflects my own, just started, daily trading which is at -280 pips)
  • #1,099
  • Sep 8, 2009 12:14am Sep 8, 2009 12:14am
Quoting beam
If you're trading EURUSD with System I, it's a good time to stay on the sidelines for a while, like Feb said a couple of posts ago. There's no real trend on the daily charts these days.
yes, hard time , waiting for a break thru the tops. Maybee another test of the low TL before she can break?
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  • #1,100
  • Sep 8, 2009 3:39pm Sep 8, 2009 3:39pm
Today, the market hit 1.45+. If the next retracement isn't too deep I'm considering to enter long again.

The market broke the short term range on the up side and is also near the supporting bottom line of the current channel. If I got it right...

I seek feedback on the above. Feb? Anyone?

beam
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