The System II (Yes with irony)

great job Paul.. I however took only +4.. but my entery was late.. so thats the best i could make out of it.

just closed the long for +12..

hey paul do u take the trade on the fcr & not 2 or 3 pips below?
what do most people do here 2 or 3 pips above/below?
cheers
andrew

2-3 pips break below/above.. its a must..

cheers fx

Fxachilies, why have u exited your long so early?

hi guy,
here are my first two trades of the day.
Excited the first one as I nearly got 1% and price was stalling.
Excited the second as price approached that resistance area (which is still holding right now) and also because I got about 0.8% on that one.

First post on FF but just thought I'd drop in and say hello. I trade using this strat as part of a bigger strat on cable. I know you are keen to keep this focused on euro so I won't post charts but just wanted to say a big thank you to Feb, FX, Dare etc. for the hard work, inspiration etc.
Good trading all!!

That's good Anthony!

A word of caution - Don't pay attention to S/R areas - it will keep you trading in your toes. If the market is stalling there..who cares?? your job is based on expectancy, not what the market is doing....

S/R is an illusion - Ultimately, the market will either reject the area or simply will break it...who knows?? and who cares anyway???

go with the flow!!!!!

I'll be around today buggin' you guys a little!!!

Hi Feb!

Thanks a lot for your words and advice!
I hope you are doing fine!

Bug away feb, bug away... ,

PS. thanks for the thread, you guys are great.
quote=feb2865;3007390]go with the flow!!!!!

I'll be around today buggin' you guys a little!!![/quote]

Salute brother.. so true as to what you say above.. great to see you around.

I exited bcz price was stalling and I had heavy load going on, so did not want to go through the agonie. its sometimes your intution and personal agenda.. no set in stone rule..

Guys..

I apologize to ti reply many of your PM's. I don't come here as often as I should. Please bear with me, I promise I will reply to you today (8-31-2009) if possible.

One thing I will say publicly for the benefit of some who have inquired on the same subject.

This "system" is simply a 1-2-3 entry style. No magic, no red light - green light inid's. No voodoo.....is as simply and naked as it is.

The difference strives on the exit. Here's where you MUST take it personal. You MUST have a pre-conceived way for the trade to follow certain path on a reasonable time span.


If not, then...what would you do??? Are you comfortable holding a position on 5 minutes within 8 -12-24 hours ???

Are you going to let you hard-stop get hit??

how are U gonna trail your stop????

how much room you're willing to give for that trade in order to mature?

Unfortunately, I can't answer that for you...every trader is different.

As I said before, you're trading on 5 minutes charts....This is not for everyone. Be ready to have string of losses....it happens.

If you lose,,,what would you do??? chicken out or keep shooting?? Does risk permits to keep pumping or is your head sending "stop" signs to your ass?


If I trade the "system II" (for those who asked) no, I don't....too slow for me. I just picked a time frame for you guys to be adequate enough time wise...you have 5 minutes to think!!!(more or less you know).

I don't spoon fed people. But I'll make you think until your head hurts on migraine.

In trading, you need to think and react...like a sniper pulling a trigger...not even time to breathe. Once you're on a trade, you need to learn how to sit tight on your ass and let the ride goes. This is trading pretty much in a nutshell.

Hey Andrew,,

Yes as FX says below 2 to 3 pips, I would just say that I have two feeds one for trading one for charts and they differ slightly sometimes, but essentially 2 to 3 pips

FCR forming?

That was blasted out the water with this candle. Reverse in play, awaiting for FCR to form for the long.

Short entered at break of 1.4276, Sl @ 1.4290.

Lets see how it plays out.

Anybody out there?

My short trade. Lets see if it has legs.

I was going to close for BE, but closed at -10 as I wanted to see if it would reverse back down. it didnt. went into damage control and close at -10.
New FCR formed though, will take the break of 1.4292