The System II (Yes with irony)

Damnit, just when I think we should be playing #2 I get it wrong. when I dont play #2 I am supposed to play number #2.

Always behind the ball. Anyways, I am playing it how I saw fit, I traded long, price basically got me in and just didnt move at all so playing play #2, which is fakeout to survive. I am surviving here, if price doesnt move 10 pips my way straight up then I will survive as to me I am just praying then. i am over guessing, if there are not enough orders and stops already on the FCR or bracket breakout then I want out at close to 0 as possible. Otherwise I am praying and hoping that bankers will put orders in my favor. That always seems to mess me up if I play that way. I may be totally off here but that is what I want on a break now, momentum and speed. I want to know that orders are behind that breakout, this to me is just pure and simple utterly flat.
So not touching until a break south of 4516 or a break north of 4573.

I can only trade what I am good at trading unfortunately.

Thanks for your nice words, brother...

Finally out @ BE....

Break for a quickly lunch... will be for the NY open

http://cdn.forexfactory.com/images/attach/gif.gif

Short @4543

Edit: Exited with +2 pips as I didn't have enough confidence

If you're trying to survive in this business, you MUST avoid been crushed by the herd - a typical scenario.

ALL markets has two characteristics in common - Monday and Friday.

First I should say that our "inside scoop" is to mimic what the"big cats" are doing...I mean, please there's no reason to fight them at all......unless any of you have a hidden treasure chest worth 1 billion dollars...in that case, please PM me for further instructions...seriously , you have no idea the things I found on this business...long story I'll tell you another day....

Here's how the big cats play this game...yes is a game for them, especially when you have all the money in this world to burn (Goldman & Sachs).

Monday - Asia Session and London session - sometimes it goes pass beyond 8:00 AM NY session - The clerk (the guy who pushes all the order that the big cat traders left written on Friday afternoon) is pushing (placing) orders on various markets. This is a slow process, and the market that goes last is the spot. So usually you'll have a slow moving - a tight market range.

Monday from Asia to london session - you need to fly low and use a narrow range - don't expect too much. Don't force yourself into see FCR'S or 123 if they're not there. Be picky on your trades. Momentum is normally dry. If you're trading currency futures, be aware of liquidity issues as your order could be bouncing off for a long period before gets filled - not pretty.

Same thing happens to Friday after lunch - the big cats are heading for the hamptons, with their belly stuffed on philly sandwiches and beer - you know, very healthy for the heart. They're just in a hurry to leave the building, so don't expect too much on the market - again you'll find some pushers taking positions for the next week.


About the news - As I said in one of my last post., the news is a matter on what is the "flavor of the month" Right now, keep and eye on trade balance , ISP manufacturing indexes FMOC and the FMOC clowns whenever they speak and of course the NFP. The red flags on FF are not well accurate in my humble opinion - no offense intended to FF.

Do me a favor and AVOID TRADING DURING THE NEWS EVENT. You have no business there and most likely you're gonna get crushed. Mark your calendar and keep the eyes wide open...and one ear on the ground.


That's it for now....keep rolling.

CYA

Doubting myself compltetely after that. Probably just as well too. Is it unreasonable to see this as a potential new 123 forming here with a hh at 14556 and a LL at 14533 with a pullback developing? Thus a short entry after a break of the LL (@ 14529) would be a good test point, but to leave well alone on the long side until further developments?

Thx Feb for bringing that back to mind

molotov

To help myself. I created a summary diagram to cover entries and exits other than #2. While it is a bit idealised I find it useful.

If anyboby else can see value in it, here it is.


Alternatively if I've got it wrong please SHOUT!

D

Thanks for your coments Feb....

They are always appreciated

Always bringing enormous valuable stuff....

nicely done..
your alternate exit.. i do that myself aswell instead of playing #1.. but only when I am well into profit like a runner or semi runner than I mostly don't exit till fcr is broken.. simply for the reason that i am still pursuing more gain..

well done summery Davidb.
guys take note.

Thanks for that graphic diagram DavidB...

Helpful summary

Short on this FCR...

Let's see again what market wanna do....

I am short there too but lets see if this market wants out of this range.


Its moving somewhere so far, SIDEWARDS.

It's hanging on my wall. Thank you so much.

ahhh clowns in a suit......

what do we do with them??

I bet this sucker is gonna go up in anger

Out of the short for -9 pips.....

Now long on that range breakout.....

C'mon......

long at 14574

are u in it?

http://cdn.forexfactory.com/images/attach/gif.gif

yup

Price seems doubting a little around 4600 area....

30 pips in profit.... but.......

Playing #1.....

C'mon New Yorkers..........