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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)

  • #3,781
  • Aug 18, 2009 10:11pm Aug 18, 2009 10:11pm
Quoting andrewb7
hey pipzone & dare
i am re reading the thread again , & compiling the important pages to re read in summary, so let me know if i can help
andrew
Sure you can, ... as Obama says ...
  • #3,782
  • Aug 18, 2009 11:58pm Aug 18, 2009 11:58pm
[quote=DareXau;2966292]Hey Guys, I've just read something in MarketClub, which is perfect to this thread.
It's perhaps a little bit too long, but so accurate, that I have to share with you.

When successful traders put on a trade, they do it with a “let’s see” attitude.
They have fully accepted the risk that this trade may not work. Or the next one. Or the next.
They don’t look at it as “being wrong”. They are not handcuffed by the fear nor are they ready to celebrate if the trade wins.
It is business as usual. Their success on the micro level is if they followed their plan..win or lose.
Losing…being wrong…and doing it properly is a skill that must be ingrained in every trader.
You will have the losses. A multiple of times.
How you deal with that shows your maturity as a trader. You have nothing to prove.

DX,
I enjoyed this article verymuch.. Thank you for your constant great contribution and care for the thread and all of us.. your my broooo..
Its a well fit to our thread and to overall successful trading career in general that should be followed by all of us otherwise would not stand a chance.
I took out the the key important part of this article that strike me which is the backbone of what we do here and its been preached by our great mentor since the begining through out the thread and everyone should pay close attention to it, "lets see" attitude.. and so on.. (read above)

Thank you once again..
  • #3,783
  • Aug 19, 2009 12:07am Aug 19, 2009 12:07am
i am long based on this FCR breakout.. as you see big ass bearish candel coming against me.. is it a hiccup? or a reversal? who knows..
I have spreaded the load wisely.. RR in my favor.. it reamins to see..
lets see what happens..

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  • #3,784
  • Aug 19, 2009 12:29am Aug 19, 2009 12:29am
at this point things obviously did not go as I planed so I am thinking exit.. you see i moved my sl away from heat to give it room if price gets anywhere close to my entery so i can exit for less damage and keeping my head above the water..

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  • #3,785
  • Aug 19, 2009 12:39am Aug 19, 2009 12:39am
well sl hit for 27 large.. maybe I made a mistake by moving my sl.. but its a wash.. bcz most time price retraces to around B/E then it countinues back.. that way I exit my losing trade for less damage and then get on the ride with its new direction... but when it stings you like this with straight move with zero hiccup it leaves you kind of paralized.. its all part of the game..
  • #3,786
  • Aug 19, 2009 1:52am Aug 19, 2009 1:52am
is anybody in this nice bearish swing? I missed it due to my toomuch involments of my long trade and as result I lost the chance to get on this ride.. my mistake.. it happens.. but its so darn painfull to watch a golden opportunity pass by.. lol
  • #3,787
  • Aug 19, 2009 2:28am Aug 19, 2009 2:28am
I was in that nice ride, but got out too early...
Every moment in the market is unique.
  • #3,788
  • Aug 19, 2009 3:43am Aug 19, 2009 3:43am
Long at 1.4108
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Survive and Preserve
  • #3,789
  • Aug 19, 2009 4:29am Aug 19, 2009 4:29am
hi guys i am new to this system just getting to grips with it but i dont understand why u are long eur/usd? as it never made the 30 points for the swing and also it has not borken out of the swing high of the retracement are you using this system or another apologies if i am all wrong on this and best of luck with the trade
cheers
pocrel
  • #3,790
  • Aug 19, 2009 5:18am Aug 19, 2009 5:18am
Valid points and I am going to pay for my mess up.

Quoting pocrel
hi guys i am new to this system just getting to grips with it but i dont understand why u are long eur/usd? as it never made the 30 points for the swing and also it has not borken out of the swing high of the retracement are you using this system or another apologies if i am all wrong on this and best of luck with the trade
cheers
pocrel
Survive and Preserve
  • #3,791
  • Aug 19, 2009 5:37am Aug 19, 2009 5:37am
enox and pocrel,
enox's entery is valid.. but its of the bracket breakout..
don't beat up yourself over a entery but rather focus on the way you actually manage that trade and practise your expectancy..
overall great courage to take action..
  • #3,792
  • Aug 19, 2009 5:57am Aug 19, 2009 5:57am
I take my risk on the trade, if it goes against me then so be it, I have position sized to take the risk and not feel bad.

Wont go broke on one trade.
Quoting fxachilies
enox and pocrel,
enox's entery is valid.. but its of the bracket breakout..
don't beat up yourself over a entery but rather focus on the way you actually manage that trade and practise your expectancy..
overall great courage to take action..
Survive and Preserve
  • #3,793
  • Aug 19, 2009 6:07am Aug 19, 2009 6:07am
Moved SL to .4105

At 1:1 R:R but target is set to 2:1, leaving it to see if target is hit.

Quoting en0x
I take my risk on the trade, if it goes against me then so be it, I have position sized to take the risk and not feel bad.

Wont go broke on one trade.
Survive and Preserve
  • #3,794
  • Aug 19, 2009 6:16am Aug 19, 2009 6:16am
CLosed out for 2:1. Planned the trade, traded the plan.

Just a hint for anyone who watched this trade, I was 1 pip away from being stopped out but I purposly put my stop below the "support" formed around the 1.4095 mark. It was only 1 plus spread away but enabled me to put things in my favour. I felt that if I saw that point then so did the other traders. If that broke that was when I would confirm to myself the trade was wrong.

Even though it touched that point a few times, I didnt move the stop until I was within 1:1 (if it got there) that was the plan. That is how I traded it and this time it paid off. Now to get some loses for tonight.

Hope that made any sense to very newbie traders.

Quoting en0x
Moved SL to .4105

At 1:1 R:R but target is set to 2:1, leaving it to see if target is hit.
Survive and Preserve
  • #3,795
  • Aug 19, 2009 6:22am Aug 19, 2009 6:22am
I was paid for my patience +21pip
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Every moment in the market is unique.
  • #3,796
  • Aug 19, 2009 6:27am Aug 19, 2009 6:27am
Lets rinse and repeat

Quoting pipzone
I was paid for my patience +21pip
Attachment
Survive and Preserve
  • #3,797
  • Aug 19, 2009 6:42am Aug 19, 2009 6:42am
Long @ .4133 , SL .4116, Target profit 1.4150

Now the trade is in the hands of the big traders, out my control now.
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Survive and Preserve
  • #3,798
  • Aug 19, 2009 7:13am Aug 19, 2009 7:13am
Stopped out but shorted on FCR.

Quoting en0x
Long @ .4133 , SL .4116, Target profit 1.4150

Now the trade is in the hands of the big traders, out my control now.
Survive and Preserve
  • #3,799
  • Aug 19, 2009 7:19am Aug 19, 2009 7:19am
i think trading all the breaks as fakes could be easier
  • #3,800
  • Aug 19, 2009 7:20am Aug 19, 2009 7:20am
You might be half right.
quote=FOURX;2967805]i think trading all the breaks as fakes could be easier[/quote]
Survive and Preserve
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