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The System II (Yes with irony)

  • #4,501
  • Sep 3, 2009 8:47am Sep 3, 2009 8:47am
thx for explanations Ogna and anthony500

need to observe more and practice , i did one positive trade today with this method

on demo 1lot + 300$ (30pips)
if i would do it once per day i would live very nice im my poor country (Poland)
  • #4,502
  • Sep 3, 2009 8:54am Sep 3, 2009 8:54am
haha ya... That would be nice
I'm trading a mirco account at the moment, don't demo too long as FX always says it is very different live and you need to practice that as well.
Demo until you are comfortable then make a micro account to practice with real money.

Good luck!!
  • #4,503
  • Sep 3, 2009 9:01am Sep 3, 2009 9:01am
Ogna i use Oanda for live trading
and mt4 (Interbankfx) for demo
as im new to this method i want to learn to quickly find a good setup
so i use demo and check if i was right or wrong
demo is always "too beautyfull" real account some how works diffirent

after a week of regular demo trading i will go live with this
  • #4,504
  • Sep 3, 2009 9:10am Sep 3, 2009 9:10am
good setup or i just try to find swing and pullback too fast ?
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  • #4,505
  • Sep 3, 2009 9:15am Sep 3, 2009 9:15am
Fx,
May I ask you a question about expectancy?

On this prupose I've taken 2 charts to help me explaining my point....

If you take and entry, it doesn't matter 123 or FCR.... and price begin to run in your favor, intead bank 21 pips, you play #1 waiting for the retrace and the possible continuation to a runner, holding the trade open, and if price break the low/high, you move stop loss above/below the created fractal, OK?... This would be Chart #1...

In the other hand, if you get into the trade, and that first candle doesn't run too much in your favor, and the next one, is a big one on the other side (agaisnt you), would you play #2, trying to exit as soon as price touches you BE again, as if it was a fake out or would you wait as if it was a retrace like in the previous example where price had stalled before the retrace?

The charts maybe aren't the better ones to show it, but only to have a little bit of visual image....

Thanks in advance Fx
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  • #4,506
  • Sep 3, 2009 9:15am Sep 3, 2009 9:15am
Hi Guys
I'm new to this thread
what my understanding so far is. this picture..

please correct me if i'm worng
http://clip2net.com/clip/m15756/1251...-clip-23kb.png
  • #4,507
  • Sep 3, 2009 9:26am Sep 3, 2009 9:26am
Quoting fxachilies
ya after both is done..
hiii would u mind telling me the MA setting u use? thanks http://cdn.forexfactory.com/attachme...1&d=1251971941
  • #4,508
  • Sep 3, 2009 9:29am Sep 3, 2009 9:29am
Quoting jplo
Fx,
May I ask you a question about expectancy?

On this prupose I've taken 2 charts to help me explaining my point....

If you take and entry, it doesn't matter 123 or FCR.... and price begin to run in your favor, intead bank 21 pips, you play #1 waiting for the retrace and the possible continuation to a runner, holding the trade open, and if price break the low/high, you move stop loss above/below the created fractal, OK?... This would be Chart #1...

In the other hand, if you get into the trade, and that first candle doesn't run too much...
sorry for late respond.. i was contenplating on closing my short trade or not.. finally did and it good for 65 big ones..

ok..jako,
keep it simple.. if you get complet nasty fakeout then its surviving time.. drop your high expectioan out of that trade and close at BE if your lucky or for less damage..
if you get a semi fakout the you play #2.. give the trade to breath to either break away to get a runner or larger profit or to preserve as much as you of the lost pips..
  • #4,509
  • Sep 3, 2009 9:31am Sep 3, 2009 9:31am
Quoting oleevier
... i did one positive trade today with this method on demo 1lot + 300$ (30pips)
if i would do it once per day i would live very nice im my poor country (Poland)
Yes, ... demoing only for as short time as possible that's a key to better learning
about the market and yourself as well ...
  • #4,510
  • Sep 3, 2009 9:34am Sep 3, 2009 9:34am
Quoting hoichoi
hiii would u mind telling me the MA setting u use? thanks http://cdn.forexfactory.com/attachme...1&d=1251971941
NO.. don't worry about that at all.. it has nothing do with the way I trade or this style.. its just there for looks.. i have said this a million times.. we trade as naked as possible here.. no indicators whatsoever..

ps.. all newbies.. please make the effort to read the entire thread.. all your questions have been asked before and its been answered..
  • #4,511
  • Sep 3, 2009 9:36am Sep 3, 2009 9:36am
Quoting fxachilies
sorry for late respond.. i was contenplating on closing my short trade or not.. finally did and it good for 65 big ones..

ok..jako,
keep it simple.. if you get complet nasty fakeout then its surviving time.. drop your high expectioan out of that trade and close at BE if your lucky or for less damage..
if you get a semi fakout the you play #2.. give the trade to breath to either break away to get a runner or larger profit or to preserve as much as you of the lost pips..
So, only survive mode in nasty fakeouts as pin bars and ugly ocasions, if not, let the trade breath....
Understood....
Thanks mate...
  • #4,512
  • Sep 3, 2009 9:46am Sep 3, 2009 9:46am
I dont know what you mean by pin bar.. just however the fucker looks as long as is a fakeout..lol.. sorry I don't pay much attention to candel formations.. I dont even know what some of them are..

ps.. guys what did you do this page.. please display your charts in normal size that fits the page.. its driving nuts..
  • #4,513
  • Sep 3, 2009 9:58am Sep 3, 2009 9:58am
some charts...real quick...

stay tuned...promise will be fast.
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Peace
  • #4,514
  • Sep 3, 2009 10:07am Sep 3, 2009 10:07am
Consider a 50% line as a marker......please no fibo stuff......just a guide..


Remember..."if"...."then"


see ya...gotta work
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Peace
  • #4,515
  • Sep 3, 2009 10:07am Sep 3, 2009 10:07am
Quoting fxachilies
I dont know what you mean by pin bar.. just however the fucker looks as long as is a fakeout..lol..
This is what I meant by pinnoccio bar (pin bar), because the "fucking" candle deceives you, getting you into the trade, and the candle after it is usually a momentum one in the opposite direction of the wick...
This happens many times...
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  • #4,516
  • Sep 3, 2009 10:13am Sep 3, 2009 10:13am
Quoting feb2865
Consider a 50% line as a marker......please no fibo stuff......just a guide..

Remember..."if"...."then"

see ya...gotta work
Hi Feb,
Thanks for your note...
keeping it simple is the most difficult thing sometimes...
I personally need to "train" on this.....
  • #4,517
  • Sep 3, 2009 10:30am Sep 3, 2009 10:30am
jplo,
if you want my advise, like i said don't pay attention to candel formation.. I don't even care to learn them all.. its all about the price.. and your two horizonatal lines..
did you see febs note.. thats it.. simple.. rest is all mental and comfort level.. spread the load wisely and etc..
  • #4,518
  • Sep 3, 2009 10:35am Sep 3, 2009 10:35am
Quoting fxachilies
jplo,
if you want my advise, like i said don't pay attention to candel formation.. I don't even care to learn them all.. its all about the price.. and your two horizonatal lines..
did you see febs note.. thats it.. simple.. rest is all mental and comfort level.. spread the load wisely and etc..
Sure, Fx....
No point into paying attention on candlestick formation on 5 min. tf....
As you say a lot of times, we are trading noise....
Only 2 lines and Price action as you advised....
  • #4,519
  • Sep 3, 2009 10:38am Sep 3, 2009 10:38am
long now.. lets see what happens..

http://cdn.forexfactory.com/images/attach/gif.gif
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  • #4,520
  • Sep 3, 2009 10:44am Sep 3, 2009 10:44am
long as well...
it's been a good day again and (made up for the losses of yesteray and even more )... last two trades were taken just before the news announcements and each time the trade turned in the right way..
let's see how this long goes and then I'm out...
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