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The System II (Yes with irony)

  • #4,061
  • Aug 25, 2009 3:49pm Aug 25, 2009 3:49pm
Hi All,

Here are today`s trades which number some six in total, I made a few errors like a late entry but still made a profit.

Notably the second trade I took a later FCR rather than the earlier one which would have made me more and made it faster .

Thanks for the commentary FX, very much appreciated.

Any comments welcome, see you all tomorrow.
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Survive and Preserve
  • #4,062
  • Aug 25, 2009 3:56pm Aug 25, 2009 3:56pm
Quoting fxachilies
DFX
you are a little toomuch hung up on details.. paying too much attention to details and other factors other than pure price action in 5m timeframe will lead you to missed opportunities.. analysis paralysis.. predictions and extra expectations are out the window.. simply put, each break could be the one.. we take almost all of them in here.. can't pick and choose toomuch.. you will endup getting all the nasty fakeouts and no runners.. its a fact.. I been there done that..
enteries are a way to test the market.. IF and THEN.. we spread the load...

Hey dude...

Enjoyed hearing your story. I think I speak for everyone when I say that shit is inspiring. Your make-up sounds very similar to mine (which is encouraging for me). Most people shake there heads at me and wonder why I take suck huge risks sometimes. Hmmm... its worked so far... career wise... trading wise i have been a loose cannon in the past though!

At 19/20 i dropped out of engineering and spunked a 20k loan in the ASX options market (after some initial windfall gains ... of course) then managed to weasel my way into a stockbroking job off the back of that knowledge / experience... then again weaseled my way into a job as an FX dealer then a professional FX trader (had to move to a new country for it though). Now manage all risk for one of the biggest Australasian fx brokers now. I feel like i've squeezed 10 years of stress into 2 years now at 23... but trading profitably is becoming second nature now - and hopefully making some good wedge personally is just around the corner.

All your help/encouragement is appreciated.

Cheers.
"If it bleeds ... we can kill it"
  • #4,063
  • Aug 25, 2009 3:58pm Aug 25, 2009 3:58pm
Quoting PaulLangham
Hi All,

Here are today`s trades which number some six in total, I made a few errors like a late entry but still made a profit.

Notably the second trade I took a later FCR rather than the earlier one which would have made me more and made it faster .

Thanks for the commentary FX, very much appreciated.

Any comments welcome, see you all tomorrow.
.

Nice work Paul... I like looking through your trades and observing your decision making process. Actually follow your trades pretty closely.

Cheers
"If it bleeds ... we can kill it"
  • #4,064
  • Aug 26, 2009 12:08am Aug 26, 2009 12:08am
Goodmorning Guys,
It don't get anymore bracket than this at the moment.. good god.. so hopefully it will take off one way or another.. be sure your on the ride..

Paul,
nice job with your trades.. you take every break and use solid expectancy decisions. for newbies and others take note.

Ari,
nice success early on.. stay humble and greatful.
at 23 I was still looking for sugar mamas.. lol


Ok lets see what's in store for us today.. but whatever it is we will make the best out of it.. we will take our shots when we spot it without hesitation.. then go to work to manage the shit out of it with our canoned expectancy skill.. and won't ever complain about market behaviour nor try to figure out its next move but rather stay close to the PA as our best indicator guide..
-if its super range we do are best to survive..
-if its semi range we do are best to survive and make some $$
-if its a nice up and down movment and trendish we make sure we don't miss any opportunites and get in the ride at the first chance and bank at maximum as possible to make mega bucks $$$$..

lets do it..
  • #4,065
  • Aug 26, 2009 12:36am Aug 26, 2009 12:36am
Thank you guys for your effort on this great thread!
Many things to learn here!
  • #4,066
  • Aug 26, 2009 12:37am Aug 26, 2009 12:37am
Morning matey.
Lets trade and see what the gods of pips brings us.



Quoting fxachilies
Goodmorning Guys,
It don't get anymore bracket than this at the moment.. good god.. so hopefully it will take off one way or another.. be sure your on the ride..

Paul,
nice job with your trades.. you take every break and use solid expectancy decisions....
Survive and Preserve
  • #4,067
  • Aug 26, 2009 12:42am Aug 26, 2009 12:42am
Long triggered.
SL = 1.4290
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Survive and Preserve
  • #4,068
  • Aug 26, 2009 12:47am Aug 26, 2009 12:47am
Quoting en0x
Long triggered.
SL = 1.4290

With ya buddy...

Look a good setup too...
"If it bleeds ... we can kill it"
  • #4,069
  • Aug 26, 2009 1:07am Aug 26, 2009 1:07am
off and running with a long play of the bracket.. already retracing.. play #2.. sl should be away from heat on the other side of bracket..


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  • #4,070
  • Aug 26, 2009 1:14am Aug 26, 2009 1:14am
Hasnt a FCR just formed and we to move SL to below FCR?

at 1.4304 for exmaple? Or leave at other side of bracket still?


Quoting fxachilies
off and running with a long play of the bracket.. already retracing.. play #2.. sl should be away from heat on the other side of bracket..


http://cloud.forexfactory.com/images/attach/gif.gif
Survive and Preserve
  • #4,071
  • Aug 26, 2009 1:15am Aug 26, 2009 1:15am
draw your FCR 4308.. sl below it.. RR in great shape..
  • #4,072
  • Aug 26, 2009 1:24am Aug 26, 2009 1:24am
stay patience .. price is stalling at the moment.. you got not much to lose at worst 5pips.. RR in your favor.. the odds of probability is on your side for the price to go higher..
  • #4,073
  • Aug 26, 2009 1:41am Aug 26, 2009 1:41am
I just exited for -2.. stalling toomuch.. broke the minor fcr.. I wait for a better shot..
  • #4,074
  • Aug 26, 2009 1:50am Aug 26, 2009 1:50am
Traded short there on the FCR break.

Quoting fxachilies
I just exited for -2.. stalling toomuch.. broke the minor fcr.. I wait for a better shot..
Survive and Preserve
  • #4,075
  • Aug 26, 2009 1:58am Aug 26, 2009 1:58am
hey guys, seems to be a bit choppy
Survive & Preserve
  • #4,076
  • Aug 26, 2009 1:59am Aug 26, 2009 1:59am
Quoting en0x
Traded short there on the FCR break.
too premature.. train your eyes to see the logical one's.. for now the break of 4292 is a indication of a price reversal or one being created in between..
  • #4,077
  • Aug 26, 2009 2:01am Aug 26, 2009 2:01am
Quoting Ari Gold
.

Nice work Paul... I like looking through your trades and observing your decision making process. Actually follow your trades pretty closely.

Cheers
Thanks for the comments, will be looking to iron out some of the errors I make.

Cheers
Survive and Preserve
  • #4,078
  • Aug 26, 2009 2:02am Aug 26, 2009 2:02am
Quoting andrewb7
hey guys, seems to be a bit choppy
good recongnition..
expectancy should have saved you from the false breakout.. lack of speed and rhythm.. thats why i exited.. now you got inhand just a bigger bracket = chopp monster..
so.. wait for it to jam up or new fcr to be created in between..
  • #4,079
  • Aug 26, 2009 2:03am Aug 26, 2009 2:03am
Quoting fxachilies
Goodmorning Guys,

Paul,
nice job with your trades.. you take every break and use solid expectancy decisions. for newbies and others take note.

.
Thanks FX for your comments, going to try to hold this level and make sure I take the FCR's on time and not late.

Thanks and good trading to all.
Survive and Preserve
  • #4,080
  • Aug 26, 2009 2:10am Aug 26, 2009 2:10am
guys,
I want to point out something very simple but super important and powerful.. and thats the hope and wish factor
if you are still in the long trade after that bracket breakout.. at this moment your not depending on anything but Hope and Wish that price will go back up your way.. and that sort of feelings is poisen to your trading arsenal regardless of the out come.. stay away from it..
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