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The System II (Yes with irony)

  • #5,221
  • Sep 10, 2009 6:31am Sep 10, 2009 6:31am
I am being patient

My account is going down still but I continue . Might have to refund soon but hey, its just money and its just a micro account. Cheaper then university

Quoting Musanto
u guys remind me.
This below was my trade, all lost , May 11 post #1912 page 128
patience guys
http://www.forexfactory.com/attachme...1&d=1242040393
Survive and Preserve
  • #5,222
  • Sep 10, 2009 6:31am Sep 10, 2009 6:31am
Gonna take a break and contemplate over a cup of coffee!
$urvive, Pre$erve & RESPECT THE TEACHER
  • #5,223
  • Sep 10, 2009 6:33am Sep 10, 2009 6:33am
made my century today, well in the negatives.

Man oh man, I am disheveled now badly.

Need to reset and start again for the NYC session.


Quoting mac1956
36.5 in the red after that trade!
Survive and Preserve
  • #5,224
  • Sep 10, 2009 6:39am Sep 10, 2009 6:39am
everyone just ask yourself one question.. and that is..
we are on a 70pips bearish swing, why am I losing money? what do I need to incorporate to my trading psycholigically?
  • #5,225
  • Sep 10, 2009 6:40am Sep 10, 2009 6:40am
Quoting en0x
made my century today, well in the negatives.

Man oh man, I am disheveled now badly.

Need to reset and start again for the NYC session.
en0x,

My friend...I feel your pain..listen, you may be trying to get revenge on the market...you need to dust off your losses and not try to recover the pips you lost.. forget about them and look and the charts fresh... maybe get up and do something else..clear your mind. Maybe you need to trade the beginning of a session only and stay away from the action in between... that is when things range for a while and get choppy. Trade your strengths... put yourself based on your skill level at the most advantageous position... don't try to be somebody else but your true self... walk before you run...

Okay? Good luck

Hang in there.
Unus pro omnibus, omnes pro uno
  • #5,226
  • Sep 10, 2009 6:42am Sep 10, 2009 6:42am
Quoting en0x
made my century today, well in the negatives.

Man oh man, I am disheveled now badly.

Need to reset and start again for the NYC session.


Just a bad day at the office.

Got to get back to basics here.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #5,227
  • Sep 10, 2009 6:54am Sep 10, 2009 6:54am
Quoting fxachilies
everyone just ask yourself one question.. and that is..
we are on a 70pips bearish swing, why am I losing money? what do I need to incorporate to my trading psycholigically?

My first loss today 20 pips was avoidable - I pulled it because of fear.
The loss of 20 pips just now it seems was just one of those things - it reversed fast. I could have minimised the loss, but I waited - tripped out - qed.

I'm now back on the 123. There is an upswing. Watching the PA - if it goes above the most recent HH I will take a long trade, if it moves down I'll consider the options.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #5,228
  • Sep 10, 2009 7:11am Sep 10, 2009 7:11am
Is anyone in at the moment?
$urvive, Pre$erve & RESPECT THE TEACHER
  • #5,229
  • Sep 10, 2009 7:11am Sep 10, 2009 7:11am
Short on the break of the FCR @ 4551


Quoting mac1956
Is anyone in at the moment?
Survive and Preserve
  • #5,230
  • Sep 10, 2009 7:17am Sep 10, 2009 7:17am
I closed it for 0.

Quoting en0x
Short on the break of the FCR @ 4551
Survive and Preserve
  • #5,231
  • Sep 10, 2009 7:17am Sep 10, 2009 7:17am
just got back guys, hey enox i might take it long by the sound of the night u have had . LOL, just kidding mate
Survive & Preserve
  • #5,232
  • Sep 10, 2009 7:18am Sep 10, 2009 7:18am
i m in the red too enox, i just have to be more patient in trades
Survive & Preserve
  • #5,233
  • Sep 10, 2009 7:19am Sep 10, 2009 7:19am
Bad one , closing my charts for the night. Over Thursday

Tomorrow is Friday WOOOHOO, much more fun day.

Quoting andrewb7
just got back guys, hey enox i might take it long by the sound of the night u have had . LOL, just kidding mate
Survive and Preserve
  • #5,234
  • Sep 10, 2009 7:21am Sep 10, 2009 7:21am
Still, I am 12% down from the start of this week.

Tomorrow is another day and next week a new one

One baby step at a time.

Quoting en0x
Bad one , closing my charts for the night. Over Thursday

Tomorrow is Friday WOOOHOO, much more fun day.
Survive and Preserve
  • #5,235
  • Sep 10, 2009 7:21am Sep 10, 2009 7:21am
There doesn't seem to be a clear trend at the moment. Fx are you in on EU at the moment?
$urvive, Pre$erve & RESPECT THE TEACHER
  • #5,236
  • Sep 10, 2009 7:25am Sep 10, 2009 7:25am
Quoting moneda
Good morning(est) to all!

Boy, this thread is on fire! .. Fx, kudos to your patience and unconditional generosity... Ok, I want to talk about this thing we call "trading naked"... are you really? Just because you do not have a macd or moving averages, etc. does not mean that you are really trading naked. Come on folks lets be honest with ourselves...there is a box full of assumptions and nonsense that we have picked up over time. What causes us to let that sneaky thought(prediction) that somehow convinces us that we know what is coming...

Hi Moneda

What a great post.

I have heard of the one co lour candle idea before, someone once also explained a no candles method, I am not sure how that was supposed to work.

I want to mention of an example from this morning – it has been demonstrated many more times than this, but it is something on which I would like to comment given your post.

Fx has been in a very nice short trade early today, based on his expectancy reading and waiting for the market to show its hand. Fx knows plenty of things - including the fact that he is quite prepared to give the market time - let it do its business, putting him nicely in profit or doing an about turn, where he takes a controlled 10 pip loss say. What is unsaid in the expectancy argument – I think – is the fact that Fx “knows” from market experiences – watching the same players, playing the same market day after day - that once that market starts to roll, the momentum becomes self fulfilling, more and more traders get sucked in to the move, adding positions, the longer time frame boys may or may not take notice and add their lots. He also “knows” that during this process there will be pull backs, which therefore won’t worry him, before price moves on its way again.

Where I am leading is the question? I tell you where. At which point does the idea of market intuition and expert in depth knowledge of your subject cross the boundary and become an “assumption” or “sneaky thought (prediction)”?

I have to admit I am struggling with this question..

It gets better, fx “knows” that when the market moves in a runner fashion, the move will have shall we say a breakout area(immediate thrust), some continued move area, where the pull backs are hardly noticeable, and some area where prices get over extended, where candles look exhaustive, the pull backs start to get deeper, before the market starts eventually to turn the other way.

At which point does this ‘knowledge’ become the ‘mind playing tricks’ and at which point is this what I call “expert market knowledge of your chosen market and timeframe”?

At which point should Fx say OK, (imagine downside breakout like earlier today) the market has just broken to the down side its start the start of a potential move, I can see the FCR signal to the upside, which has come very early in the move, but I will ignore that because ‘statistically’ or ‘due to my knowledge’ this baby has a good chance of running .It has all the hallmarks. And therefore I won’t take that FCR I will ignore it. Isn’t this prediction? And at which point should he say, we cannot predict, I see an FCR signal to the upside even though the market has just broken to the down side with impulsion, but I have to take the signal otherwise I am into prediction.

Hope this is clear for you – just trying to get some stuff clear in my own head. FX hope you don’t mind me using your skills in example here – u r the genie of the lamp.
Survive and Preserve
  • #5,237
  • Sep 10, 2009 7:33am Sep 10, 2009 7:33am
Long trade at 14570
$urvive, Pre$erve & RESPECT THE TEACHER
  • #5,238
  • Sep 10, 2009 7:43am Sep 10, 2009 7:43am
Quoting mac1956
Long trade at 14570

need to be careful trading in the middle of news!!!

better to hold while the dust settles...

the long is nice but was a risky move.
Peace
  • #5,239
  • Sep 10, 2009 7:46am Sep 10, 2009 7:46am
Moved my Sl to BE
$urvive, Pre$erve & RESPECT THE TEACHER
  • #5,240
  • Sep 10, 2009 7:48am Sep 10, 2009 7:48am
Quoting feb2865
need to be careful trading in the middle of news!!!

better to hold while the dust settles...

the long is nice but was a risky move.
Thanks Feb - I'm out with +17. Oh yes - just seen the calender - more luck than 123!!!!! SHit - was feeling a bit pleased with myself!!!
$urvive, Pre$erve & RESPECT THE TEACHER
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