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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)

  • #5,841
  • Sep 16, 2009 12:20pm Sep 16, 2009 12:20pm
Quoting fxachilies
hey i am pulling for you to catch a runner.. lol
You out now fx ?
Survive and Preserve
  • #5,842
  • Sep 16, 2009 12:23pm Sep 16, 2009 12:23pm
price got within 5 pips of my enter, i did not close my trade since i thought it broke that fcr might go further down so i can close at BE..
wishfull thinking.. price is shooting up agian... hopefully is just a small retrace..
  • #5,843
  • Sep 16, 2009 12:46pm Sep 16, 2009 12:46pm
Deploying #1
$urvive, Pre$erve & RESPECT THE TEACHER
  • #5,844
  • Sep 16, 2009 12:54pm Sep 16, 2009 12:54pm
Quoting fxachilies
price got within 5 pips of my enter, i did not close my trade since i thought it broke that fcr might go further down so i can close at BE..
wishfull thinking.. price is shooting up agian... hopefully is just a small retrace..
It took all day to get up here and somebody wants it to stay!
$urvive, Pre$erve & RESPECT THE TEACHER
  • #5,845
  • Sep 16, 2009 12:57pm Sep 16, 2009 12:57pm
well now i am bringing it all... just took a short trade at 4727 to hedge this.. lets see if can get 20pips going short so i can close this for BE..

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  • #5,846
  • Sep 16, 2009 12:58pm Sep 16, 2009 12:58pm
this are my trards today
lost 71 pips
white lines =enter
green lines = exit
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it's a huge gap tony, a huge gap.
  • #5,847
  • Sep 16, 2009 1:56pm Sep 16, 2009 1:56pm
uhhhhhhhhh... mission accomplished..

you believe it if i tell you I came out 3pips ahead in that whole mess..
I had three mistakes in this trade.. so stupid.. but its done and over..
was not worth going through the agonie.. I got lucky..
see you all tomorrow..
  • #5,848
  • Sep 16, 2009 2:08pm Sep 16, 2009 2:08pm
Quoting jplo
From my opinion, mate, if you can trade full London session and first hours of NY, even wheter it is for 2,3 days/week, would be better than only trade NY session everyday...
As far as I know, London is the biggest forex market worldwide, and after it, NY.... so that means that biggest volatility and of course opportunities, are also in that order.....

Only my humble opinion, but more experimented guyz her will be able to answer you more accurately....
I have an idea. It's not a problem for me to check my charts at work. I can remote desktop into my home computer. The hardest part of system II for me is being patient and giving my trades a chance to be runners. So my idea is that I check my charts, program my stops and let them go.

I'm configuring my PC to email me whenever there is a new swing pivot (high is higher than 2 bars to left & right, etc.). That way I won't miss anything major. Not every new pivot will be an FCR or qualified pullback but I can't have an FCR or pullback without getting the email. I can adjust my stops as appropriate.

Anyone else tried this?
  • #5,849
  • Edited 2:31pm Sep 16, 2009 2:16pm | Edited 2:31pm
Quoting gevellber02
this are my trards today
lost 71 pips
white lines =enter
green lines = exit
G,
I don't know how you lose this much in a day like today..
what i see wrong again.. is a lot of quick in and out..
and what i don't see in your chart is no horizontal lines (fcr.. 123.. swing end/starts).. very important to draw them as they form and leave them there so when I look at your chats at end of the day i can understand more of where your tought process were as you took positions.
i don't know if you got any trades in during news time.. (I have a hard time reading your chart).. if you have then thats self explanetory bcz you should sit out..

watch my chart and compare it to yours..
there is no more than 6 possible trades..
4 fakeouts.. easily could have survived at BE on each one..
2 semi rides.. good for minimum 15-20 pips profit on each..
1 runner.. (after the dust settled).. good for minimum 40pips profit..

so there you have it.. compare it to yours and find the flaws.. and avoid the mistakes tomorrow..

to all,
ask for me.. i had four trades.. 3 were fakeouts = BE on each
and one runner good for 30pips..
I missed the two semi rides by the way.. (and i had one major bobo.. you all saw it)

(gray box = news.. sit on you hands time and laugh and be entertain..)

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  • #5,850
  • Sep 16, 2009 2:22pm Sep 16, 2009 2:22pm
Quoting cunparis
I have an idea. It's not a problem for me to check my charts at work. I can remote desktop into my home computer. The hardest part of system II for me is being patient and giving my trades a chance to be runners. So my idea is that I check my charts, program my stops and let them go.

I'm configuring my PC to email me whenever there is a new swing pivot (high is higher than 2 bars to left & right, etc.). That way I won't miss anything major. Not every new pivot will be an FCR or qualified pullback but I can't have an FCR or pullback without getting...
i can tell you right off the bat that this approach is not gonna work.. i gurantee it.. its good way to get chopped around like raw meat in the butcher shop.. lol
this is a very hands on style of trading.. you need to babysit the matta to death and play the surviving game..
I am saying this out of care and don't want you to lose money..

best regards,
  • #5,851
  • Sep 16, 2009 2:32pm Sep 16, 2009 2:32pm
Wow FX good job on that trade you saved yourself, 7 thousand?!?!? WOW I wanted to die when i lost 60 from my 300 dollar account lol.

way to go!
  • #5,852
  • Sep 16, 2009 2:33pm Sep 16, 2009 2:33pm
I was watching off and on and missed the FCR break on the last downdraft, it would have been an excellent short term scalp.

We have to babysit these 5 minute scalps..
  • #5,853
  • Sep 16, 2009 3:46pm Sep 16, 2009 3:46pm
Quoting cunparis
I'm configuring my PC to email me whenever there is a new swing pivot (high is higher than 2 bars to left & right, etc.). That way I won't miss anything major. Not every new pivot will be an FCR or qualified pullback but I can't have an FCR or pullback without getting the email. I can adjust my stops as appropriate.

Anyone else tried this?
Much better idea is trade S&P 500, DJ, QQQQ or USD/JPY.
First hour of New York opening is all trader need to put something on the bread.
  • #5,854
  • Sep 16, 2009 11:12pm Sep 16, 2009 11:12pm
Quoting fxachilies
i can tell you right off the bat that this approach is not gonna work.. i gurantee it.. its good way to get chopped around like raw meat in the butcher shop.. lol
this is a very hands on style of trading.. you need to babysit the matta to death and play the surviving game..
I am saying this out of care and don't want you to lose money..

best regards,
Thanks for the candid feedback. In that case I'm going to just look at the charts when I get the email and write on a piece of paper where my entry & stop would be and kind of paper trade it like that. The goal won't be to make money, the goal will be to learn from the London session and get used to being patient. If it's not helpful for me then I'll try to change my schedule and/or trade another instrument that uses the US market hours which correspond to my afternoon.

Thanks

PS: I'm still on simulator so I'm more concerned about learning the system and practicing exits than making money.
  • #5,855
  • Sep 16, 2009 11:33pm Sep 16, 2009 11:33pm
Morning all,

I am long from 1.4736

Looking good so far
Survive and Preserve
  • #5,856
  • Sep 16, 2009 11:39pm Sep 16, 2009 11:39pm
hey paul, i m with u on this one mate
Survive & Preserve
  • #5,857
  • Sep 16, 2009 11:44pm Sep 16, 2009 11:44pm
Quoting PaulLangham
Morning all,

I am long from 1.4736

Looking good so far
Next time , tell me earlier will ya ?
remind me of zillion dollars fx trade's
  • #5,858
  • Sep 16, 2009 11:45pm Sep 16, 2009 11:45pm
Quoting PaulLangham
Morning all,

I am long from 1.4736

Looking good so far

Hi PAul,

Did you actually enter at 4736 or a couple above it? I'm spectating this at the moment and envious you're successfully in?
$urvive, Pre$erve & RESPECT THE TEACHER
  • #5,859
  • Sep 16, 2009 11:48pm Sep 16, 2009 11:48pm
I have had a shocking week. I know why as well, and its trading WAY to much(quick in and outs).

My issue is knowing when to try let a trade for the runner instead of getting out using #1 or #2. By doing this I miss the runner which should clear out my losses. Fun games.

Like this trade you are on, I took at as well but got out 5 pips later when price didnt break the HH on the candle when it pulled back. Will post my charts later.


Quoting PaulLangham
Morning all,

I am long from 1.4736

Looking good so far
Survive and Preserve
  • #5,860
  • Sep 16, 2009 11:48pm Sep 16, 2009 11:48pm
Quoting mac1956
Hi PAul,

Did you actually enter at 4736 or a couple above it? I'm spectating this at the moment and envious you're successfully in?
Hi ,yes 36, I have a couple of feeds and the one I use mosts ays 34 was the high so I added two.

Nice push to the upside already, lets see if price will push again and give us that runner we all want.
Survive and Preserve
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