The System II (Yes with irony) | Page 300 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

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

The System (Irony included) 1,175 replies

Attachments: The System II (Yes with irony)
Exit Attachments

The System II (Yes with irony)

  • #5,981
  • Sep 17, 2009 9:58am Sep 17, 2009 9:58am
well guys this break was not strong.. considering my havey load i bailed for almost max profit up to this point.. +39
price is also close to last H/H.. so stalling could be in place..
  • #5,982
  • Sep 17, 2009 10:14am Sep 17, 2009 10:14am
I'm out for 25 pips in profit....

Price seems to stall and act funny, so... bailed out...
  • #5,983
  • Sep 17, 2009 10:30am Sep 17, 2009 10:30am
Hello everyone,
I noticed most of you took the long fcr mid london session and lost.. and thats what i wanna talk about..
low hit ratio is big part of what we do here guys and you all know or should know that by now.. instead of examining about enteries so much,
focus more on how to get out of them with less damage.. now don't get me wrong with enterying just stupidely.. it must fall into our structure..
guys, I take about 95% of all opportunies that fall into our entery category.. out of that 95% about 1/4 of them i exit quickly without playing the full #1 & 2.. and the rest i do stick to the plan.. so how i pick and choose.. I wish I could tell you.. there is a thin line in between..
this time I gotta say this, and that is: I just simply can't put it to words.. i don't think anyone can.. it would be contradictory, bcz i can not
obviously give any clear cut rules or any sure clearity.. bcz there is none.. this is the sticky stuff and the reality of trading.. X and O's don't work all the time..
but what i can tell you is this: with lots and lots of practise trades and screen time and PA study you
will develop a skill/feel/wisdom within which is called trader intution.. your awarness for the moment.. as your naked eyes getting used to the behaviour
of the given currency and timeframe (ours.. E/U and 5M)..
thats why the words of our great mentor are so powerfull here.. "one timeframe, one currency.. pick one and become the master of it.."
thats why i try too quickly shut the door on some new people that come in here and try to do otherwise.. its vital to stay in this course.
so if i tell you I would have waited for the next fcr instead of 4743 fcr to go long.. you be like why.. ask me whats my "structural" reasoning behind it?
or if I say yes i did take the 4743 fcr, but I exited
right away at 4738.. you be like.. what ..how.. ummmmmm.. then you ask: whats the "structure" that you go by with?.. oh boy!!!
I hope you get the point..
i think more and more that you stick around and get involve.. you start to realize and apperciate febs lil yet powerful lines and word of wisdoms.. such as:
"I traded hit ratio long time ago for my bottomline" (I never forget that)
"you will lose.. make it part of your agenda.."
"the sand and surfer story.."
"expectancy is what has keept me in business all these years"
"enteries are just a way to test the market"
"IF and Then.."
and many more..
now with all above said put aside.. i will lay myself on the line and give you guys a bit of interpertaion of my own as to how fxachilies reads PA and
picks and choose his time.. I am going to use todays london session that everyone had questions and difficulty about..
now if anyone tries to controdicted and simply call it being full of shit and etc... i simply don't give a fuck.. If one person out of all you 50 people that are here everyday can benefit from it, then thats good enough for me..
again this is something that i do myself it may not suit you but it could be helpfull, so dont worship it or hold me to anything..

I have to think about this as to how i will put this into words and charts expelanation and keep it simple to understand..
so stay tune for tonight..

another long ass post.. sorry..
  • #5,984
  • Sep 17, 2009 10:36am Sep 17, 2009 10:36am
Quoting fxachilies
Macdaddy.. what happen to you paying more attention..

the major news was two hours ago.. that fhily fed news can kiss my ass.. lol.. this move was all about yankee boys.. as how they saw it...

Got it Fx - one more lesson learned.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #5,985
  • Sep 17, 2009 10:37am Sep 17, 2009 10:37am
I would be cautious at this point to be going long.

JMO
  • #5,986
  • Edited 10:45am Sep 17, 2009 10:44am | Edited 10:45am
thanks for that fx.
nice write up. i know i have should hav gotten out of that fcr at be or with a small loss, as it didnt go anywhere for 20 minutes, no speed or rythm.
i also managed to completely balls up the last trade that should have been my profit for the day. kicking myself. as you can see from my chart, i somewhat stupidly decided there was an fcr at 14730 and closed my long for a short, and let it run up and get stopped out where you lot were still happily taking profit.
lesson learnt, another day under my belt.
cheers guys
Attached Image (click to enlarge)
Click to Enlarge Name: eum5.gif Size: 18 KB
  • #5,987
  • Sep 17, 2009 10:45am Sep 17, 2009 10:45am
Quoting fxachilies
Hello everyone,
I noticed most of you took the long fcr mid london session and lost.. and thats what i wanna talk about..
low hit ratio is big part of what we do here guys and you all know or should know that by now.. instead of examining about enteries so much,
focus more on how to get out of them with less damage.. now don't get me wrong with enterying just stupidely.. it must fall into our structure..
guys, I take about 95% of all opportunies that fall into our entery category.. out of that 95% about 1/4 of them i exit quickly without playing...
great post ..I see what you mean about that mid london fcr , In fact I took the one situated at 1.4740 and when I took that one I was seeing 3 perfect consecutives L/H (1.4753, 1.4749,1.4744) before, which made me think it was very risky and that market was still clearly in down mode... so I understand you not taking that one
  • #5,988
  • Sep 17, 2009 10:53am Sep 17, 2009 10:53am
playing the H& S
  • #5,989
  • Sep 17, 2009 10:56am Sep 17, 2009 10:56am
last trade of the day for me... short

I got top picked on the previous trade and lost some , which was the consequence of me getting out too early on the previous long trade (and also getting in a bit early on that same trade... lol quite risky)
well the outcome of the day is still good and this short one might be good
Attached Image (click to enlarge)
Click to Enlarge Name: 17.09.2009(B).png Size: 13 KB
  • #5,990
  • Sep 17, 2009 10:59am Sep 17, 2009 10:59am
Quoting fxachilies
.. i will lay myself on the line and give you guys a bit of interpertaion of my own as to how fxachilies reads PA and
picks and choose his time.. I am going to use todays london session that everyone had questions and difficulty about..
now if anyone tries to controdicted and simply call it being full of shit and etc... i simply don't give a fuck.. If one person out of all you 50 people that are here everyday can benefit from it, then thats good enough for me..
again this is something that i do myself it may not suit you but it could be helpfull,...
Another "long" excelent post.........

I'm anxious to read the upcoming one, buddy!!

Always learning new touches from you, into the big one, that make the difference....

Thanks
  • #5,991
  • Sep 17, 2009 11:02am Sep 17, 2009 11:02am
Quoting fxachilies
Hello everyone,
I noticed most of you took the long fcr mid london session and lost.....
Don't know how to say thanks for your, again, altruist work. Hope I will be able to make pips consistently.
  • #5,992
  • Sep 17, 2009 11:48am Sep 17, 2009 11:48am
Quoting fxachilies
Macdaddy.. what happen to you paying more attention..

the major news was two hours ago.. that fhily fed news can kiss my ass.. lol.. this move was all about yankee boys.. as how they saw it...

That's the spirit!!
$urvive, Pre$erve & RESPECT THE TEACHER
  • #5,993
  • Sep 17, 2009 11:53am Sep 17, 2009 11:53am
Quoting fxachilies
I just simply can't put it to words..
I think it is called DiNapoli three-period rule.
"If a trade is not in profit by three bars (at whatever your time frame is), get out of trade."
  • #5,994
  • Sep 17, 2009 12:43pm Sep 17, 2009 12:43pm
what a nice bearish move.. I had my 21pips tp hit.. I could'nt babysit it.. still greatfull..
  • #5,995
  • Sep 17, 2009 12:56pm Sep 17, 2009 12:56pm
Quoting fxachilies
Hello everyone,
I noticed most of you took the long fcr mid london session and lost.. and thats what i wanna talk about..
low hit ratio is big part of what we do here guys and you all know or should know that by now.. instead of examining about enteries so much,
focus more on how to get out of them with less damage.. now don't get me wrong with enterying just stupidely.. it must fall into our structure..
guys, I take about 95% of all opportunies that fall into our entery category.. out of that 95% about 1/4 of them i exit quickly without playing...
Fx

This would be really great as today`s session a little like yesterdays was slwo because of impending news with long ranging bars even though there was a slow side stepping movement.

I for one would appreciate continued discussion on it.

Thank
Survive and Preserve
  • #5,996
  • Sep 17, 2009 12:58pm Sep 17, 2009 12:58pm
Testing, testing testing
$urvive, Pre$erve & RESPECT THE TEACHER
  • #5,997
  • Sep 17, 2009 1:13pm Sep 17, 2009 1:13pm
Quoting fxachilies
Hello everyone,
I noticed most of you took the long fcr mid london session and lost.. and thats what i wanna talk about..
low hit ratio is big part of what we do here guys and you all know or should know that by now.. instead of examining about enteries so much,
focus more on how to get out of them with less damage.. now don't get me wrong with enterying just stupidely.. it must fall into our structure..
guys, I take about 95% of all opportunies that fall into our entery category.. out of that 95% about 1/4 of them i exit quickly without playing...

I don't knwo if this is useful to anyone else, but the penny that dropped for me out of today and is reinforced by this post is that every entry is a test - no more no less - and I have trained my mind to predict. When I get into prediction I find myself starting to think wishfully when a trade reverses on me. Then I start to resist the PA and keep seeing my wish. It's my wishes that make me nervous and also stop me using #1 and #2. What eludes me for now is the feel that only experience can give you - that just requires me to keep turning up and trading 123.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #5,998
  • Edited 1:37pm Sep 17, 2009 1:27pm | Edited 1:37pm
Quoting mac1956
I don't knwo if this is useful to anyone else, but the penny that dropped for me out of today and is reinforced by this post is that every entry is a test - no more no less - and I have trained my mind to predict. When I get into prediction I find myself starting to think wishfully when a trade reverses on me. Then I start to resist the PA and keep seeing my wish. It's my wishes that make me nervous and also stop me using #1 and #2. What eludes me for now is the feel that only experience can give you - that just requires me to keep turning up and...
Mac,

Fx talks about IF....THEN...

It is sort of rinse and repeat if you like.

Almost like playng a video game.

Take action under certain circumstances,take another action if X then happens, take yet a different action if Y happens.
Survive and Preserve
  • #5,999
  • Sep 17, 2009 1:36pm Sep 17, 2009 1:36pm
Quoting PaulLangham
Mac,

Fx talks about IF....THEN...

It is sort of rinse and repeat if you like.

Almost like playng a video game.

Take ation under certain circumstances,take anothee action if X then happens, take yet a different action if Y happens.

Yes, thanks Paul, it makes complete sense. The first four days of working this way saw me with a net profit of +124 pips (with bad mistakesanlosses). These past two days have been really difficult. Yesterday I made a loss for the first time trading this way, and today I came out +3. The return on the time investment is that I have learned more from these past two days than the first five. It radically challenges everyting I have learned elsewhere - and shifting to simplicity from complexity is quite a hard ask. I think yesterday sorted the novices from the experts. Today I felt in its shadow somewhat. Like golf, this leaves you with nobody to blame but yourself when the ball goes flying into the rough. That swing should be so easy - but it's the emotions and the head that get in the way. I love it . It's a great game. You're a generous chap - I really appreciate your input.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #6,000
  • Sep 17, 2009 2:14pm Sep 17, 2009 2:14pm
My trades Today.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd ny open 9_17_2009.jpg Size: 205 KB
2 traders viewing now