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The System II (Yes with irony)

  • #4,421
  • Sep 2, 2009 5:56am Sep 2, 2009 5:56am
We need to be careful...not all that glitters is gold.
The first rule of our "system" is to have an adequate swing so we can see the true colors of the market.

Let the market show it's intentions and go for the kill!



Be the predator...not the prey
Peace
  • #4,422
  • Sep 2, 2009 6:00am Sep 2, 2009 6:00am
Quoting fxachilies
whacha saying feb is a good day to go out fishing
I am afraid so my brother....I wish I was wrong as I got hanged last night trading gold....still on that freaking trade.

I we get a nice run today I'll be saved..unfortunately the big cats aren't much happy with Obama and the pussycats...oh I am sorry, I meant the feds.
Peace
  • #4,423
  • Sep 2, 2009 6:14am Sep 2, 2009 6:14am
Quoting feb2865
I am afraid so my brother....I wish I was wrong as I got hanged last night trading gold....still on that freaking trade.
I we get a nice run today I'll be saved..unfortunately the big cats aren't much happy with Obama and the pussycats...oh I am sorry, I meant the feds.
... it's the same story here "down under" - money splash by our Kevin is only small comparing to cash for clunkers ...
  • #4,424
  • Sep 2, 2009 6:20am Sep 2, 2009 6:20am
Quoting feb2865
I am afraid so my brother....I wish I was wrong as I got hanged last night trading gold....still on that freaking trade.

I we get a nice run today I'll be saved..unfortunately the big cats aren't much happy with Obama and the pussycats...oh I am sorry, I meant the feds.

LOL.. I agree.. specially with the pussycats part..

But if i still wanted to get a trade in and not go fishing..
question feb,
when price swings away and breaks out the bracket that you displayed in your chart.. do we..
A) take the trade right away? (2-3 pips above/below)
B) wait for the candel to close above/below?
C) wait for the swing/PB to shape up then traded of 123?
or.. D) the hell with it all and still go fishing?.. lol
  • #4,425
  • Sep 2, 2009 6:20am Sep 2, 2009 6:20am
Quoting DareXau
... it's the same story here "down under" - money splash by our Kevin is only small comparing to cash for clunkers ...
oh yeah!!! it's good to know those things. That way you won't waste your precious time starring at the screen for hours...man, trading has become a lonely profession...oh boy I miss the pits so much!!! Unfortunately, they're becoming electronic in a fast pace.
Peace
  • #4,426
  • Sep 2, 2009 6:27am Sep 2, 2009 6:27am
My first opportunity to greet you Feb , and say thanks for starting this great threat and for your pearls from time to time
  • #4,427
  • Sep 2, 2009 6:29am Sep 2, 2009 6:29am
Quoting fxachilies
LOL.. I agree.. specially with the pussycats part..

But if i still wanted to get a trade in and not go fishing..
question feb,
when price swings away and breaks out the bracket that you displayed in your chart.. do we..
A) take the trade right away? (2-3 pips above/below)
B) wait for the candel to close above/below?
C) wait for the swing/PB to shape up then traded of 123?
or.. D) the hell with it all and still go fishing?.. lol
Pretty much what I had on the charts is a level trading ALA scalping mode. It's pretty much how I trade. You can wait for a 1-2-3 and still falls under the premise of this thread. But, the swings are weak so a 123 formation is highly risky.

In this particular case, I will trade the breakout with lighter loads, moving my stops aggressively. Hard stops at the other side of the box. If you can catch a runner that way, that's will be sweet.
Peace
  • #4,428
  • Sep 2, 2009 6:33am Sep 2, 2009 6:33am
Quoting jplo
My first opportunity to greet you Feb , and say thanks for starting this great threat and for your pearls from time to time
You're welcome...I'll be around from time to time. The guys are doing a wonderful job keeping the idea alive, I am just bored today and I feel like talking LOL. I promise I won't bug you guys that much as I am back to full throttle trading.
Peace
  • #4,429
  • Sep 2, 2009 6:37am Sep 2, 2009 6:37am
Quoting feb2865
Pretty much what I had on the charts is a level trading ALA scalping mode. It's pretty much how I trade. You can wait for a 1-2-3 and still falls under the premise of this thread. But, the swings are weak so a 123 formation is highly risky.

In this particular case, I will trade the breakout with lighter loads, moving my stops aggressively. Hard stops at the other side of the box. If you can catch a runner that way, that's will be sweet.
ok thank you feb.. thats the answer I expected..

guys.. I asked this question for all of us.. and you got it from the man himself.. that's what we all would do under such flat out circumstances..
  • #4,430
  • Sep 2, 2009 6:38am Sep 2, 2009 6:38am
Your health better then?

Quoting feb2865
You're welcome...I'll be around from time to time. The guys are doing a wonderful job keeping the idea alive, I am just bored today and I feel like talking LOL. I promise I won't bug you guys that much as I am back to full throttle trading.
Survive and Preserve
  • #4,431
  • Sep 2, 2009 6:42am Sep 2, 2009 6:42am
The only difference is that in "scalping", I don't have time to look @ number 3. I have to play between #1 and # 2 due the fast pace of the markets.

My goal in trading is to catch a runner....My true job description.
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Peace
  • #4,432
  • Sep 2, 2009 6:46am Sep 2, 2009 6:46am
Quoting en0x
Your health better then?
I am not walking with a cane no more and I started walking with my dog around the house..thanks for asking brother!

Saturday I had my first cold Samuel Adams in ages!!!
Peace
  • #4,433
  • Sep 2, 2009 6:46am Sep 2, 2009 6:46am
hey feb can we bug you?.. since your in the mude to talk ..
can you drop us with some wisdom.. something out of the box but inside the box of trading our style..

come on let's hear one.. i miss the old days.. lol
  • #4,434
  • Sep 2, 2009 6:56am Sep 2, 2009 6:56am
I take it ol Sam Adams is a beer?

Nothing nicer then a cold beer hitting the back of the throat on a warm day....
very little beats it.
Quoting feb2865
I am not walking with a cane no more and I started walking with my dog around the house..thanks for asking brother!

Saturday I had my first cold Samuel Adams in ages!!!
Survive and Preserve
  • #4,435
  • Sep 2, 2009 7:03am Sep 2, 2009 7:03am
Quoting en0x
I take it ol Sam Adams is a beer?

Nothing nicer then a cold beer hitting the back of the throat on a warm day....
very little beats it.
you know what beats it enox?
a 80pips straight line runner .. yep that will do it..
But..
having a cold one with feb presence.. now nothing beats that..
  • #4,436
  • Sep 2, 2009 7:07am Sep 2, 2009 7:07am
Quoting fxachilies
hey feb can we bug you?.. since your in the mude to talk ..
can you drop us with some wisdom.. something out of the box but inside the box of trading our style..

come on let's hear one.. i miss the old days.. lol

you want to hear like some history??? like what I did when I was on the pits??
Peace
  • #4,437
  • Sep 2, 2009 7:10am Sep 2, 2009 7:10am
Quoting feb2865
The only difference is that in "scalping", I don't have time to look @ number 3. I have to play between #1 and # 2 due the fast pace of the markets.

My goal in trading is to catch a runner....My true job description.
guys,
what just feb mentioned above is gold.. it took me some time to really understand that and in grave it in mind as to what really my job description should be.. but now its like a habit.. and in his absence I try to transfer the same massage to you guys..
consider yourself lucky today for just being around at febs presence.. you got the opportunity to hear it from the man himself.. take it and run with it.. this is the wisdom i was asking of him earlier.. if we're lucky we may get even more..
thank you feb once again..
  • #4,438
  • Sep 2, 2009 7:12am Sep 2, 2009 7:12am
Quoting feb2865
you want to hear like some history??? like what I did when I was on the pits??
anything man.. some pit story would be nice..
  • #4,439
  • Sep 2, 2009 7:22am Sep 2, 2009 7:22am
Quoting fxachilies
anything man.. some pit story would be nice..

ok...hold on..will take a while....
Peace
  • #4,440
  • Sep 2, 2009 7:36am Sep 2, 2009 7:36am
mmm ok.

1)Back in 1981...we didn't have charts. We had a piece of paper we used to call "flow charts" (HA!) If we want to see some price simulation, we need to become "artists" and draw all the bars by hand...I still keep some of these "charts"...what?? MACD'S???? Bollinger Bands??? oh yeah baby, snap on...do it yourself...

2) I got my ribs broken twice on the pits.

3) countless fistfigths with the monkeys at your side trying to steal a tick out of you (oh please!!! I can believe we were such ignorants) but that was true...

4) coming to work monday morning ... half-ass drunk(or whatever you've been inhaling/smoking) with no sleep at all was a really nice "adventure", especially if you feel like throwin'...oh my God..

ahhhh those were the days...no drug test whatsoever......

all I can say is that I am grateful to be alive and survive the 80's..


We used WSJ pink sheets - they have S/R and pivot point lines already printed...nice, that was very "tech"

Pivot points were widely used those days. Not anymore.. Actually, that was your "bread and butter" I love to trade the bounces off pivots…low risk, high reward.

we had computers on the floor.. 10 inches green screen wide showing the price.....not bad...

Trading was nice! You made a lot of friends and travel a lot. Trading wasn’t so lonely.

The nature of the markets were less caothic than now in my opinion.
Peace
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