The System II (Yes with irony)

Its been odd, seems around this time there has been massive movements in EU.

Anyways, I had to target that and close out as I was in the bathroom.

Pity.

If you want to be a smarty-ass about news...simply take the other side of the pull......normally wait 30 minutes and when the move is over take the other side of the trade.

10:00 O' clock news are sweeter than 8:30.

I keep missing out on runners... when you guys trade do you just sit and watch the charts?

because I go online etc and i dont pay attention

but i guess im only 15 so its expected lol

Feb, thanks for this. I love the pearls of wisdom in this thread.

FX, thanks for your advise today. I have to sleep now , wake up in 6 hours, go to work so I can trade at night again . Will review what you said tomorrow again. At least today I ended up on a +, so I feel myself making progress. Most of all< I am starting to learn when to cut my losses short using the test of LL or HH on the FCR.

baby steps. I am not the quickest or fastest learner but I am persistent, so thank you for baring with me again.

good evening everyone,

here are my today trades , closed the last one too early but it's been an incredible day... nearly up 5.00% on 7 trades ( risking 1% as usual on everyone of them)

thon,
good job with your trades.. it looks too perfect..
i got a question.. why would you let that 6th trade to go down that deep and not closing it at BE when fcr was given for short at 4311?

Guys

Today is Sept 1 -2009 oh crap! Christmas is coming!!! so freakin fast dont ya think??

I know may be is kinda early but......

December is right up the corner!! This year has been a learning curve for many of you and for some has been probably a good one. The markets normaly go crazy on December. Here's the deal.

There's two thing that might happen on December - 1) the market gets extremely directional AKE one sided (long/short) or gets very choppy. Sometimes I know this by the end of November( a lil ace I have on my sleeve.) On whatever data I can get, I will gladly pass that on to you guys.

You can be miserable trading on December or make a pile of money...or simply limit your load if you don't like to dance the song they're playing..

December has two sides.

1) Big guns are dumping their loads to renew their portfolios for the new year.(directional mode)

2) Big guns are fat and lazy like a frog living in a septic hole( choppy mode) therefore they don't wanna keep playing - the market is up for grabs.

Be warned - this will affect your every day trading.

As I said...this is a fair warning given on Sept 1 2009....be ready ahead of time. Be prepared or be "squared".

Good Karma.....


PD: December is a very entreating month. Just sit and watch all this "indicator freaks" crying out loud as their "systems" stops working(ouch!!!)....for real.

6th trade: after entering the price moved into my favor but for only about 10 pips, and I was ready to let price retest that area again but then it went down and down (without retracing at all which would have made me move my sl and I was ready to lose my 1% on that trade but price stopped above that my initial 1% hard sl and I guess I was lucky on that one ) ...I didn't pay attention to that fcr you mention as It was on my entry literally..

2the trade was also lucky as I was ready to push the exit button as price broke that fcr at 1.4366 but I wanted to see how clean the break was. that green candle closed just above the line and the following candle appeared bearish again which made me stay in the trade..

i'm off it's 1800 here in switzerland time to go support wawrinka at the us open.. and tired of seeing that price go down lol..
bye everyone

Hi Elizo, I just wanted to say you're not alone. I'm somewhere around page 75. I was up until 3am last night reading this thread since someone posted the link. I couldn't stop. It seemed so simple. How could I have wasted so much time on indicators and optimizing?

I'm slowly making my way to not using indicators and trading on price and volume. This method is even simpler and I like it. I am just learning it and probably not even doing it properly but I did manage to be positive today trading 6B & 6E (on sim of course!). In my normal systems that I'm doing I made less. So I'm very optimistic about this method.

Elizo - just pm me if you want to discuss anything while we're getting caught up.

Hi All,

Here are my trades from today.

Be interseted to hear any advice you can give FX on my 6th trade the loser - maybe i didn`t play it right but price didn`t really retrace enough to let me out.

Trade 5, I was very happy with as tradtionally people would say this was a very aggressive trade, just look at the downtrend there - but the good old FCR brought home the bacon for me. It`s great to play trades like that. I would say it builds confidence.

Any comments otherwise welcome.

Thanks to all for the continuing excellent contributions to the thread.

Hey Jplo I have been to Majorca as well, beautiful island, beautiful climate, great fish restaurants.

Here are the charts

Paul,

You have the most clear and easy to interpret charts around! One question..... did you enter short after trade #6? the fcr @ 143.10 would have been a dandy . I know that your hard stop had been hit @ 143.14 and maybe your trigger finger was a bit numb but you had the opportunity @ 143.10 and maybe even @ 143.00 (more or less). Unfortunately, I had to work

Congratulations on a fine trading day.

Hi Moneda,

I stopped after that trade as I had to go out - yep I sure missed some action at this point. But hey tomorrow is another day !

Thanks for the comments.

Found a reference to this thread and today I have started to plow my way through the almost 300 pages.
Great teaching Feb, gaining some excellent information.

Short term scalping is my strong point based on my stock trading experience over the last 20 years.

Doing the demo thing on the PA with Renko charts, have a hard time breaking away from the traditional candle chart.

I expect to be asking questions.

best to all

hey fx great posts last night, in regards to low hit ratio, as for my last month i won 1/3 of my trades & still came out in front, i m am still learning the art of the way we trade here but ur right u have to accept the losses, its all apart of it & we love it
andrew

Good Morning to all,
guys I am going to make some comments in regards to pauls trades and it be good for everyone else as you would go over your trades and find the flaws and strenght..

Paul,
great trading doing a nice job.. I am going to start with the positive and that be your 5th trade.. that was awsome and I say this in regardless of the outcome.. that is just a bigtime trade and the risk is always in your favor on such trades.. i made good money myself on that one and the next two inside the trenches as I played them all live for everyone to see.
now..
your 6th trade..
its a pure mistake in your part and I am very surprise.. first of all it was during the news release so price was spiking.. (read what I told enox about news..he made the same mistake).. but aside from that you had the chance to get on that long ride way before once with fcr 4297 and again with 1-2-3 4307..
your 3rd trade.. it's what really concerns me and I really would like you and everyone to pay a very close attention to this.. it comes down to a bit of discreation and commonsense.. you guys know that there are no set in stones rules in anything that we do here.. I give you guys some structures here and there if its feb he wouldn't give you any..
anyhow.. first of all you would fall into trades like that when you stricktly limit yourself to 21 pips gain Paul .. ok thats fine.. thats a solid gain and no problem.. but in this case you get a quick fcr 4345 right after your profit taking from your 2nd trade.. and you already had a fcr at 4352.. there only 7pips apart and that considers as a real breakthrough for a long ride if it meant to be.. so don't take the immidiate one when is so close to the next fcr higher up.. so I want for everyone to in such cases to be aleart and recognize this uniqe occasions (this should not to take away anthing from when I say "take every shot".. I hope you realize that).. if the other fcr is much higer lets say 20 pips go ahead and take the immidiate one but if its close enough force the price to show his reall matta fricking hand.. lol..
but overall if you give your trade room to breath, in this case up to the fcr 4352 then you would have really tested the honey and taken full advantage of the beautiful rundown.. guys it's not going to be easy straight line price movment as often as the one you witnessed later on the day..
ok enough said..
I have displayed my chart with my enteries (blue shades) and some explenations.. go over them and compare them with yours and let me know if you got a question..
I had another awsome day and I missed the big part of that first runner during londi session otherwise it would have been a blowout..


http://cdn.forexfactory.com/images/attach/gif.gif

ok.. i am long based on this bracket breakout.. its been over half an hour and its stalling.. i have my fcr drawn 4217 and my sl below it.. if it stalls toomuch it would be wise to exit and place order on top of H/H.. if it meant to go higher then that would be a real break..

ps.. i would like to ask everyone to draw your fcr lines immidiatly when one gets created.. it keeps you alert as to better analysing the immidiate price action.. so from here on when you display your chart I expect to see the fcr lines to be there.. so i can help you better and see where your thinking progress is..

http://cdn.forexfactory.com/images/attach/gif.gif

hey fx, i m long with u

can someone tell me how far are we from london open please?