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The System II (Yes with irony)

  • #5,781
  • Sep 16, 2009 8:53am Sep 16, 2009 8:53am
Quoting fxachilies
i think what you should do is to chase after girls man.. your missing out at 15 sitting infront of screen all day.. lol.. just kidding around..
LOL

well im 16 now
trying to get an early start here.................... haha
  • #5,782
  • Sep 16, 2009 8:55am Sep 16, 2009 8:55am
Quoting Ogna
LOL

well im 16 now
trying to get an early start here.................... haha
You are gonna become the best ever... jeje
The time runs in your favor, buddy
  • #5,783
  • Sep 16, 2009 8:56am Sep 16, 2009 8:56am
Hey guys, thanks to all for this great thread.
Not trying to change the focus on this thread but over the years trading stocks, the 7 down candle theory then snipe long on the following candle has been very successful for me over the years, just banked banked 10 pips..

GLTA
  • #5,784
  • Sep 16, 2009 8:58am Sep 16, 2009 8:58am
guys this LL line is tempting, but as you see price has reall dificulty to break it strongly.. so my question to you is.. what would you do in this type of situation?
  • #5,785
  • Sep 16, 2009 9:00am Sep 16, 2009 9:00am
Quoting Johannes
I tried this for a while, IMO, it's very difficult and I couldn't keep it up, esp. with a young family. So in the end I'm trading this system in the NY session while also investigating other instruments (equities, commodities, etc.)
Jp & fx - thanks for the advice on trading the full london session. I'll see about changing my schedule at work.

johannes - I sent you an email so we can talk about trading it on other instruments privately. I was thinking the same thing.
  • #5,786
  • Sep 16, 2009 9:01am Sep 16, 2009 9:01am
Quoting deano1292
Hey guys, thanks to all for this great thread.
Not trying to change the focus on this thread but over the years trading stocks, the 7 down candle theory then snipe long on the following candle has been very successful for me over the years, just banked banked 10 pips..

GLTA
so you enter on the 7th candel?
  • #5,787
  • Sep 16, 2009 9:02am Sep 16, 2009 9:02am
I was going to take it @ 1.4644, no?
  • #5,788
  • Sep 16, 2009 9:02am Sep 16, 2009 9:02am
Quoting fxachilies
guys this LL line is tempting, but as you see price has reall dificulty to break it strongly.. so my question to you is.. what would you do in this type of situation?
A lot of overlapping bars so lots of indecision. If it breaks it could be a big move so I will try it. The problem is where to put the stop? I think around 4676.
  • #5,789
  • Sep 16, 2009 9:03am Sep 16, 2009 9:03am
Quoting fxachilies
so you enter on the 7th candel?
No, I waited for next candle to go long at 4655, the 7 th candle could turn green..
  • #5,790
  • Sep 16, 2009 9:04am Sep 16, 2009 9:04am
Fx, What would you do in this situation?
I think i would enter on the break
  • #5,791
  • Sep 16, 2009 9:07am Sep 16, 2009 9:07am
Quoting fxachilies
guys this LL line is tempting, but as you see price has reall dificulty to break it strongly.. so my question to you is.. what would you do in this type of situation?
or are you thinking wait to see if it's bracket trading
  • #5,792
  • Sep 16, 2009 9:07am Sep 16, 2009 9:07am
Quoting deano1292
No, I waited for next candle to go long at 4655, the 7 th candle could turn green..
ok i see.. and in your experience is it a high probability approach?
  • #5,793
  • Sep 16, 2009 9:10am Sep 16, 2009 9:10am
i give you a hint..
we went over this yesterday.. (what do you think was the reason for this up and down movement for the last hour and half?)
  • #5,794
  • Sep 16, 2009 9:15am Sep 16, 2009 9:15am
We've had a pile of news that nobody knows what to do with. Back to the 123 imho.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #5,795
  • Sep 16, 2009 9:17am Sep 16, 2009 9:17am
Quoting fxachilies
i give you a hint..
we went over this yesterday.. (what do you think was the reason for this up and down movement for the last hour and half?)
Ok I see where you're coming from but I never know when it's safe to trade after news. I guess the overlapping bars should be a sign that something is going on and we should wait for a new swing, one that is more decisive??
  • #5,796
  • Sep 16, 2009 9:20am Sep 16, 2009 9:20am
Quoting fxachilies
ok i see.. and in your experience is it a high probability approach?
Yes FX, a North American Indian chap first alerted me to this high probability of the 8th candle to be long. In this instance the 8th candle went red then turned that is when I went long, didn't stay long, out at 4665 although went a bit higher.

Hope this helps in the future, worked again this time for me..
  • #5,797
  • Sep 16, 2009 9:21am Sep 16, 2009 9:21am
Quoting mac1956
We've had a pile of news that nobody knows what to do with. Back to the 123 imho.
ok close enough macdaddy..
one news kicked it up one kicked it down plus NY open help.. but not enought o break through for good.. so stick with basic and that is...
wait for dust to settle.. then trade wisely when one of our setup is there..
  • #5,798
  • Sep 16, 2009 9:23am Sep 16, 2009 9:23am
Quoting fxachilies
guys this LL line is tempting, but as you see price has reall dificulty to break it strongly.. so my question to you is.. what would you do in this type of situation?
wait for a new swing
Every moment in the market is unique.
  • #5,799
  • Sep 16, 2009 9:28am Sep 16, 2009 9:28am
simple commonsense:
wait for this bitch to settle down.. lol
  • #5,800
  • Sep 16, 2009 9:28am Sep 16, 2009 9:28am
Quoting fxachilies
ok close enough macdaddy..
one news kicked it up one kicked it down plus NY open help.. but not enought o break through for good.. so stick with basic and that is...
wait for dust to settle.. then trade wisely when one of our setup is there..
Ok thanks

still more news to come, crude oil in few minutes
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