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We all need pivots to win..yes or not? 13 replies

The System (Irony included) 1,175 replies

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The System II (Yes with irony)

  • #4,781
  • Sep 8, 2009 3:01am Sep 8, 2009 3:01am
out +69 pips.. wash and rinse for now..
I will not take the countiuation unless it goes bracket..
but be anxiously looking for the short when the setup is there..

we needed this after yesterdays garbage.. lol

breakfast time for me.. late one though..
  • #4,782
  • Sep 8, 2009 3:03am Sep 8, 2009 3:03am
I've moved my SL to 4410 (mini-fractal) securing almost 60 pips.....
Nice rally up, nice runner
  • #4,783
  • Sep 8, 2009 3:06am Sep 8, 2009 3:06am
ended up with +55 pips , didnt play it as well as u guys as i re entered my 2nd trade as a 1,2,3 @ 4400, need more patience with my first trade but still very happy
Survive & Preserve
  • #4,784
  • Sep 8, 2009 3:10am Sep 8, 2009 3:10am
I'm out for 83 pips....
Really nice trade
Ready for the next one....
  • #4,785
  • Sep 8, 2009 3:11am Sep 8, 2009 3:11am
Great job guys. Very nice trading.
  • #4,786
  • Sep 8, 2009 3:13am Sep 8, 2009 3:13am
only 33 for me, i should have stayed in, i got out then in again.. an out too early. Anyway i still have a lot to learn , and keep my cool...
  • #4,787
  • Sep 8, 2009 3:14am Sep 8, 2009 3:14am
Quoting jplo
I'm out for 83 pips....
Really nice trade
Ready for the next one....
  • #4,788
  • Sep 8, 2009 3:38am Sep 8, 2009 3:38am
Hi Feb,

This is just a revelation. I see pullbacks everywhere. I've just had a nice couple of trades on Cable using this method (although there is news in the market at the moment which helped). It seems so simple - I can hardly believe my good fortune stumbling across your thread.

Thanks - your newest follower.

Mac
$urvive, Pre$erve & RESPECT THE TEACHER
  • #4,789
  • Sep 8, 2009 3:42am Sep 8, 2009 3:42am
... two trades and 85 pips whit-in two hours ... not a bad day ...
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  • #4,790
  • Edited 3:57am Sep 8, 2009 3:47am | Edited 3:57am
Good morning to all,

Hell of a nice ride folks!... this is what is all about ... catching the breakout of a long consolidation that started yesterday and riding the bus until it runs out of gas. When price takes off like this one does not need a label.... it is all about managing your trade and controlling your emotions. Enjoy the ride and be ready for a change of direction after a period of consolidation or a long sustain trend north. Protect your gains with solid risk management. I also celebrate when my expectancy skills help me control my loses. Your success in the long run depends on how you deal with a trade that goes sour much more than when the easily recognizable swing/trend has everyone jumping on the bus. Be early to jump in and ready to jump off when the ride shows signs of slowing down (based on the timeframe that you are trading).

Enjoy....

Oh by the way...for those of you that care to know....the 1.4450 area (give or take 30 pips) has been a resistance level since December '08.
Unus pro omnibus, omnes pro uno
  • #4,791
  • Sep 8, 2009 3:59am Sep 8, 2009 3:59am
If its been resitance for more then a year, do we long it when it breaks or short it when it breaks , top picked or go for the retrace.

Actually, if I have learnt something after this major move look for consolidation or a reversal, not a resumption of the prior move correct?

Quoting moneda
Good morning to all,

Hell of a nice ride folks!... this is what is all about ... catching the breakout of a long consolidation that started yesterday and riding the bus until it runs out of gas. When price takes off like this one does not need a label.... it is all about managing your trade and controlling your emotions. Enjoy the ride and be ready for a change of direction after a period of consolidation or a long sustain trend north. Protect your gains with solid risk management. I also celebrate when my expectancy skills help me control...
Survive and Preserve
  • #4,792
  • Sep 8, 2009 4:12am Sep 8, 2009 4:12am
This wonderful thread suddenly makes sense of so much.

I'm glad to hear you are recovered from your illlness.

I am clearing all the indicators from my system - and I'm going for 123...

Thank you SO much.

Mac
$urvive, Pre$erve & RESPECT THE TEACHER
  • #4,793
  • Sep 8, 2009 4:17am Sep 8, 2009 4:17am
Quoting en0x
If its been resitance for more then a year, do we long it when it breaks or short it when it breaks , top picked or go for the retrace.

Actually, if I have learnt something after this major move look for consolidation or a reversal, not a resumption of the prior move correct?
En0x,

Sorry, let me correct myself.. since December... Feb has mentioned in the past that it is not a bad idea to take a look at the big picture even if you are trading noise like we are. I would not consider this a major move... well actually it is within the approach that we are trading here.. What we are doing is trading short lived fluctuations in price actions, while controlling our loses and eventually catching "major moves" within our timeframe. That is what fill our bellies in the long run. So, this resistance level that I mentioned is just something to keep in the backburner.... Our focus is what lies in front of us but sometimes a peek of the rear view mirror is not a bad ideal IMO.

Good luck
Unus pro omnibus, omnes pro uno
  • #4,794
  • Sep 8, 2009 4:22am Sep 8, 2009 4:22am
Hello,

A picture is worth a thousands words.
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Unus pro omnibus, omnes pro uno
  • #4,795
  • Sep 8, 2009 4:25am Sep 8, 2009 4:25am
Quoting moneda
En0x,

Sorry, let me correct myself.. since December... Feb has mentioned in the past that it is not a bad idea to take a look at the big picture even if you are trading noise like we are. I would not consider this a major move... well actually it is within the approach that we are trading here.. What we are doing is trading short lived fluctuations in price actions, while controlling our loses and eventually catching "major moves" within our timeframe. That is what fill our bellies in the long run. So, this resistance level that I mentioned...
Thank for clearing this up Moneda..
its just a backburner.. as i did give you guys the heads up on the heat of things.. and my exit decision was a little based on that.. as crazy as I am but its important to take glim at this things sometimes bcz market remembers those spots..
i looked at in the 4hr chart and it looked like a month long res? i don't know.. still important enough to pay attention too.. it was long time that i had not checked the 4hr chart.. .

thanks for the comments Mon.
  • #4,796
  • Sep 8, 2009 4:27am Sep 8, 2009 4:27am
FX question for you, I know repeat of old question.

Take chart, would you take A or B trade or neither?
My thoughts are only take A but given the distance between A and B would bring us into +10 pips area that would give us the ability to bail out should it turn at point A at break even.



I know FCR are close we wait for bracket (as I am doing here) but curious on your answer.

Again apologies if its a stupid question.


Quoting moneda
En0x,

Sorry, let me correct myself.. since December... Feb has mentioned in the past that it is not a bad idea to take a look at the big picture even if you are trading noise like we are. I would not consider this a major move... well actually it is within the approach that we are trading here.. What we are doing is trading short lived fluctuations in price actions, while controlling our loses and eventually catching "major moves" within our timeframe. That is what fill our bellies in the long run. So, this resistance level that I mentioned is...
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Survive and Preserve
  • #4,797
  • Sep 8, 2009 4:37am Sep 8, 2009 4:37am
... long again from 1.4430, should play nicely I reckon ...
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  • #4,798
  • Sep 8, 2009 4:39am Sep 8, 2009 4:39am
05:17 09/08 EURO-DOLLAR: Seen meeting take profit demand in the $1.4415/00 area,
after rate met decent supply from range players out of HK ahead of the
$1.4450 barrier level (high $1.4444), the rate touching a pullback low
of $1.4412 but move seen cushioned by the reported buys. Option related
offers remain in place ahead of the $1.4450 barrier, with stops noted
above. A break here to open a move on toward $1.4480, with sell interest
seen from here toward next barrier level at $1.4500. A break below
$1.4400 to squeeze some of the weaker spec longs, with support seen at
$1.4380 ahead of $1.4350. Germany IP due at 1000GMT.


form market news bullets.. FWIW..cheers
  • #4,799
  • Sep 8, 2009 4:43am Sep 8, 2009 4:43am
I work for a major internation interbank broker, and honestly , 99% of them cannot trade for sh!t but can analyze well after the fact.. Odd eh

so that stuff never helps ever for me.
Survive and Preserve
  • #4,800
  • Sep 8, 2009 4:46am Sep 8, 2009 4:46am
KLong at break of 1.4446
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Survive and Preserve
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