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We all need pivots to win..yes or not? 13 replies

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The System II (Yes with irony)

  • #4,001
  • Aug 25, 2009 2:39am Aug 25, 2009 2:39am
Mrng Legends,

I had to pass on this mornings trading session ... had some stuff to take care of. Don't think I missed too much as mkt clear is still choppy.

I think most of this week will probably be the same. Thank God this is the last week in August ).

FX,

Buddy I loved the way you explained yesterday's charts.

* Take the ride from the beginning
* Ride it (with retracements) give it room to breathe
* Watch for continuation and follow through in price action
* If it goes your way keep a going
* If stalls or fails to break the continuation levels then play #1 and bank that P&L
* Then watch for bracket (most likely consolidation after a move)
* Always play expectancy when in a trade

Cheers
  • #4,002
  • Aug 25, 2009 2:45am Aug 25, 2009 2:45am
FX

Can I ask why you chose to enter on the 2nd chart rather than the first one?
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  • #4,003
  • Aug 25, 2009 2:50am Aug 25, 2009 2:50am
Quoting DesertFX
Mrng Legends,

I had to pass on this mornings trading session ... had some stuff to take care of. Don't think I missed too much as mkt clear is still choppy.

I think most of this week will probably be the same. Thank God this is the last week in August ).

FX,

Buddy I loved the way you explained yesterday's charts.

* Take the ride from the beginning
* Ride it (with retracements) give it room to breathe
* Watch for continuation and follow through in price action
* If it goes your way keep a going
* If stalls or fails to break the continuation...
damn you just made sound a lot simpler.. lol
thats it baby.. keep it simple.. its goes back to IF and THEN and expectancy..

thanks for the make clear steps..
  • #4,004
  • Aug 25, 2009 2:51am Aug 25, 2009 2:51am
Quoting DesertFX
FX

Can I ask why you chose to enter on the 2nd chart rather than the first one?
Also where would you re-entry be buddy? same level 83?
  • #4,005
  • Aug 25, 2009 2:55am Aug 25, 2009 2:55am
Quoting DesertFX
FX

Can I ask why you chose to enter on the 2nd chart rather than the first one?
i entered on the first one FCR..
  • #4,006
  • Aug 25, 2009 2:57am Aug 25, 2009 2:57am
Quoting fxachilies
i entered on the first one FCR..
I never closed the first entery.. but if i would have yes i would reenter at above 83
  • #4,007
  • Aug 25, 2009 2:58am Aug 25, 2009 2:58am
Quoting fxachilies
i entered on the first one FCR..

Understood Cheers Monsieur ... and I guess because stop so close ... expectancy here risk reward is to let it ride and see how it goes.
  • #4,008
  • Aug 25, 2009 3:02am Aug 25, 2009 3:02am
FX,

By the way when you say 50 lots ... do you mean 50 x 100,000? i.e. 5 mio usd notional?

I ask because I use DB too, and was wondering if I should use CitiFX Pro ... they have a retail platform too and will soon be up and running in London. What do you think of the DB spreads?

DFX
  • #4,009
  • Aug 25, 2009 3:02am Aug 25, 2009 3:02am
for some reason I can not post charts..
just be aware that price bounce here is bcz of the two top resistant.. be patience and play #2.. if it acts funny around the hurdel resistant for the second attempt then bank max profit..

I got figure this problem out..
  • #4,010
  • Aug 25, 2009 3:14am Aug 25, 2009 3:14am
guys i just exited as price failed to push higher and major bounce of that resistant on top..
  • #4,011
  • Aug 25, 2009 3:33am Aug 25, 2009 3:33am
Hi All,

Also can't post charts, two trades so far:


Short 1.4268 cloed for -10

Then took the first FCR 1.4279 and closed for +21

Will post charts later when I can.
Survive and Preserve
  • #4,012
  • Aug 25, 2009 3:55am Aug 25, 2009 3:55am
Guys.. friendly suggestion..please no one take it in the wrong way..
please stop asking me about brokers or my account or lot size or etc.. its irrelavent to what we do here..
alittle about me and lets put it all to rest..
I got early into mortgage business in my youth as a loan officer.. broke all kinds of records (closed 32 loans in one month..avg closing ratio of 15 deals for 3yrs)..then ran a big time brokerage house.. then opened my own mortgage/investment company and made a lot of money.. sold it cheap when things start to go downhill with the crises (my best business decision ever).. so i got a lot of spear money in my forex account.. and i am a matta fricking risk taker.. its been my motto earlie on (my dad never agreed.. he always thought i will endup in the streets.. but now he loves me..lol).. i was blessed and has worked out greatly for me.. my motto does not take away anything as to that, I am a super hard worker.. mixing it up with deligence and some intellgence has got me to where i am today..
for time being forex trading with this style that I was lucky enough to meet up with febs thread, and to trust and dedicate myself, now is my passion.. running a million dollar company just out of my laptop with confidence and helping others to be able to do the same thing.. good place to be in life.. as I said i have been blessed and god bless all of you..

lets get back to trading and focus on the week of learning..
  • #4,013
  • Aug 25, 2009 4:00am Aug 25, 2009 4:00am
short on fcr.. lets see how it will shape up.. sl away from the heat for the time being.. could also place it above 4298..

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  • #4,014
  • Aug 25, 2009 4:07am Aug 25, 2009 4:07am
it wouldn't be a swing with a bit of feakout..
it wouldn't be a profit with a bit of feakout..
it wouldn't be a great life with a bit of a twist and turns..
  • #4,015
  • Aug 25, 2009 4:11am Aug 25, 2009 4:11am
FX ... sorry bro didnt mean to ask about brokers and size etc ... was more so to understand how one can progress and ideally which broker is best in terms of spread and user friendliness.

I appreciate your candid and open feedback as always, this is why I find trading such a unique industry and invigorating. Much more open and honest attitude.
  • #4,016
  • Aug 25, 2009 4:26am Aug 25, 2009 4:26am
Quoting DesertFX
FX ... sorry bro didnt mean to ask about brokers and size etc ... was more so to understand how one can progress and ideally which broker is best in terms of spread and user friendliness.

I appreciate your candid and open feedback as always, this is why I find trading such a unique industry and invigorating. Much more open and honest attitude.

no sweat my friend..
all brokers have flaws, advantages and disadvantages.. its about what you prefer.. to me for my major accont its important that my money is safe/insured and my stops are guarantee.. rest i can bear with.. but DB by far is my most favorite..
I also got fxpro & union.. i never have more than 100k-150K and i use high leverage on that (200:1) i think it even offers up to 500:1.. its nuts.. I like the spread 0.8.. stops are not guranteed 100% and they could disaprear I guess..lol.. its in cyprus go figure..lol.. kidding aside i have visited the facilitie as i was vacationing there and they looked solid..
  • #4,017
  • Aug 25, 2009 4:30am Aug 25, 2009 4:30am
got stung with this upward move.. and did not take a shot long.. double bubu.. back to breakeven for the day..
  • #4,018
  • Aug 25, 2009 4:30am Aug 25, 2009 4:30am
Seems like a very large EURUSD order going through in the interbank market.
  • #4,019
  • Aug 25, 2009 4:32am Aug 25, 2009 4:32am
Quoting fxachilies
no sweat my friend..
all brokers have flaws, advantages and disadvantages.. its about what you prefer.. to me for my major accont its important that my money is safe/insured and my stops are guarantee.. rest i can bear with.. but DB by far is my most favorite..
I also got fxpro & union.. i never have more than 100k-150K and i use high leverage on that (200:1) i think it even offers up to 500:1.. its nuts.. I like the spread 0.8.. stops are not guranteed 100% and they could disaprear I guess..lol.. its in cyprus go figure..lol.. kidding aside i...

Wow you make my risk appetite look like nothing hahahaha
  • #4,020
  • Aug 25, 2009 4:43am Aug 25, 2009 4:43am
Hello everyone,
Im looking for a fractical to form on. maybe we can make some pips here
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