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

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The System II (Yes with irony)

  • #5,081
  • Sep 9, 2009 1:16pm Sep 9, 2009 1:16pm
[quote=PaulLangham;3038661]Hi Cunparis,

I think what FX means is the psychological difference between playing with demo money and real money even if it is $300-$500.

The point is that your emotions will play much harder with you when you play real money and this is what you need to get under control.

Hope this helps.[/quo

No doubt about it - I've scaled back to .50 or £1 while I get to grips with this - it makes the lessons stick.

Mac
$urvive, Pre$erve & RESPECT THE TEACHER
  • #5,082
  • Sep 9, 2009 1:17pm Sep 9, 2009 1:17pm
Quoting fxachilies
i am locking my sl on top of last fcr which gives me a BE and letting it run..
Amazing call FX, just after I got out the Euro dropped hard. It's hard to let winners run and give them room even on simulator.

PaulLangham - I have experienced this while trading ES so I totally agree.
  • #5,083
  • Sep 9, 2009 1:23pm Sep 9, 2009 1:23pm
Never traded EU this late in the UK day before - is this calm failry typical?
$urvive, Pre$erve & RESPECT THE TEACHER
  • #5,084
  • Sep 9, 2009 1:27pm Sep 9, 2009 1:27pm
Quoting mac1956
Never traded EU this late in the UK day before - is this calm failry typical?
Yes mac----fairly typical--- but you just never know??????????
I know where I am----I just don't know where I'm going!
  • #5,085
  • Sep 9, 2009 1:37pm Sep 9, 2009 1:37pm
Quoting capt. ok
Yes mac----fairly typical--- but you just never know??????????

Hello again - do you ever take a break???
$urvive, Pre$erve & RESPECT THE TEACHER
  • #5,086
  • Sep 9, 2009 1:40pm Sep 9, 2009 1:40pm
Quoting mac1956
Never traded EU this late in the UK day before - is this calm failry typical?
mac---i usually just pack it in around 12 noon EST and just get on with the rest of the day because eu usually doesn't have a lot of action in the afternoon(EST). But as you can see, today has a nice little run south.
A little while ago JPLO commented that this way of trading was not gold ---it is PLATINUM ---I couldn't agree more!
I know where I am----I just don't know where I'm going!
  • #5,087
  • Sep 9, 2009 1:45pm Sep 9, 2009 1:45pm
Quoting capt. ok
mac---i usually just pack it in around 12 noon EST and just get on with the rest of the day because eu usually doesn't have a lot of action in the afternoon(EST). But as you can see, today has a nice little run south.
A little while ago JPLO commented that this way of trading was not gold ---it is PLATINUM ---I couldn't agree more!

I found it yesterday afternoon - devoured the thread - took a couple of trades yesterday and came out ahead. Got up this morning and have had difficulty tearing myself away. Had a good day today for a newbie with a twitchy finger - took out +30 pips. Getting the hang of it - it really is not rocket science is it - but, boy, does the psychology get in the way!!! I feel really inspired by it - and knocked out by Feb and Fx's generosity.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #5,088
  • Sep 9, 2009 1:47pm Sep 9, 2009 1:47pm
Gonna hop on the short train at 14530
$urvive, Pre$erve & RESPECT THE TEACHER
  • #5,089
  • Sep 9, 2009 1:49pm Sep 9, 2009 1:49pm
Quoting mac1956
I found it yesterday afternoon - devoured the thread - took a couple of trades yesterday and came out ahead. Got up this morning and have had difficulty tearing myself away. Had a good day today for a newbie with a twitchy finger - took out +30 pips. Getting the hang of it - it really is not rocket science is it - but, boy, does the psychology get in the way!!! I feel really inspired by it - and knocked out by Feb and Fx's generosity.
This is pretty much how I feel too. this is my second week taking trades and I've only had 1 losing day (yesterday).

I too was curious about the Euro in the afternoon session. I'm in Europe so I typically stop trading around noon US time which is 6pm here.
  • #5,090
  • Sep 9, 2009 1:50pm Sep 9, 2009 1:50pm
Quoting mac1956
Hello again - do you ever take a break???
ha ---- I'm kind of new here and it's hard to take a break when you think you have just found your style of trading---you know , have to look at he chart every 3 seconds, wondering how it works at off times like right now, etc. etc.

Actually I just came back in after 2 hrs. and I'm +35 with and jus set my SL@ + 10. It's hard to stay away from the screen but trying my best
I know where I am----I just don't know where I'm going!
  • #5,091
  • Sep 9, 2009 1:52pm Sep 9, 2009 1:52pm
Hi All,

Here are today`s trades.

I reckon I played them much better than yesterday - not talking about pis, talking about sticking to the plan.

Regarding the runner I waited this time until the first HL was taken out.
Thanks for the inflight trades FX - I can`t always comment during trading but I am reading the thread.

Thanks to all.
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Survive and Preserve
  • #5,092
  • Sep 9, 2009 1:57pm Sep 9, 2009 1:57pm
Bit low on the expectancy quotient!
$urvive, Pre$erve & RESPECT THE TEACHER
  • #5,093
  • Sep 9, 2009 1:59pm Sep 9, 2009 1:59pm
Quoting mac1956
Gonna hop on the short train at 14530
Not so fast, potential FCR coming.
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  • #5,094
  • Sep 9, 2009 2:00pm Sep 9, 2009 2:00pm
Quoting PaulLangham
Hi All,

Here are today`s trades.

I reckon I played them much better than yesterday - not talking about pis, talking about sticking to the plan.

Regarding the runner I waited this time until the first HL was taken out.
Thanks for the inflight trades FX - I can`t always comment during trading but I am reading the thread.

Thanks to all.

There's a lot of learning in there for me - especially about letting it run - you had a great day.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #5,095
  • Sep 9, 2009 2:02pm Sep 9, 2009 2:02pm
Quoting cunparis
Not so fast, potential FCR coming.

Thanks for the feedback - you're right - I'm waiting.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #5,096
  • Sep 9, 2009 2:11pm Sep 9, 2009 2:11pm
Quoting PaulLangham
Hi All,

Here are today`s trades.

I reckon I played them much better than yesterday - not talking about pis, talking about sticking to the plan.

Regarding the runner I waited this time until the first HL was taken out.
Thanks for the inflight trades FX - I can`t always comment during trading but I am reading the thread.

Thanks to all.

So Paul, is that a rule of thumb - waiting for the first HL - looking at the EU now there may be an FCR to the longside. Does the System II wisdom suggest waiting for a pullback above the line 14548, or would you test at 14551 ish?
$urvive, Pre$erve & RESPECT THE TEACHER
  • #5,097
  • Sep 9, 2009 2:14pm Sep 9, 2009 2:14pm
Quoting PaulLangham
Hi All,

Here are today`s trades.

I reckon I played them much better than yesterday - not talking about pis, talking about sticking to the plan.

Regarding the runner I waited this time until the first HL was taken out.
Thanks for the inflight trades FX - I can`t always comment during trading but I am reading the thread.

Thanks to all.
Thanks Paul,
I find your charts at the end of the day very useful. Please keep them coming. Congratulations on a great day!

Cheers,
John.
  • #5,098
  • Sep 9, 2009 2:22pm Sep 9, 2009 2:22pm
Quoting johny pip
Thanks Paul,
I find your charts at the end of the day very useful. Please keep them coming. Congratulations on a great day!

Cheers,
John.
Yes , thanks Paul , same from me .
I know where I am----I just don't know where I'm going!
  • #5,099
  • Sep 9, 2009 3:06pm Sep 9, 2009 3:06pm
Quoting mac1956
There's a lot of learning in there for me - especially about letting it run - you had a great day.
Hi MAc,

Sorry I meant pips not pis - getting tired now !

Like FX and the others have said just stick at it - one step at a time, every day there is anew trick and and new lesson to be learnt. Also don`t focus on pips, I am focusing on playing the plan exactly as written.
Survive and Preserve
  • #5,100
  • Sep 9, 2009 3:10pm Sep 9, 2009 3:10pm
Quoting mac1956
So Paul, is that a rule of thumb - waiting for the first HL - looking at the EU now there may be an FCR to the longside. Does the System II wisdom suggest waiting for a pullback above the line 14548, or would you test at 14551 ish?
Hi Mac,

I will let FX answer this one more fully, but essentially there are no rules of thumb, in the runner I was just playing expectancy - looking to make sure price was moving along in the right direction in a "reasonable time", the price kept on truckin so I held with it (not easy in fact) and I simply closed on the break of the first FCR which got taken out to the downside.

For the other question I would post a chart it is easier to see.
Survive and Preserve
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