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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)

  • #6,021
  • Sep 18, 2009 1:43am Sep 18, 2009 1:43am
Quoting andrewb7
hey paul, thanks again for posting ur trades for the day, i really learn alot from them, the trade 2 u had, i was in that as well & i played the #2 scenario as it was a fakeout, after entry price dropped & gave us a new fcr then went back up & failed to break 47 area on 3 different candles( i think it was) so i bailed put then for a small loss, obvioulsy hindsight is great now but maybe u could have got out when the new fcr was broken, not sure, but in the end mate u recovered dusted yourself off & was ahead for the day so well done paul.
again...
Hi Andrew,

Thanks for your comemnts.

Totally agree about playing #2 and thr fakeout, I guess I simply was not fast enough on this occasion to recognize this one was going to turn round and head south - although the very little progress price actually made to te upside should have told me something..... As you say easy in hindsight

Anyway, managed to keep my head and get a couple of trades later in the day to turn the day's trading a round.

Thanks
Survive and Preserve
  • #6,022
  • Sep 18, 2009 1:46am Sep 18, 2009 1:46am
Quoting elizo
Paul,

as usual thanks for posting your charts. Simple question: I saw you drew a lot of FCRs there, but you only traded 4 times. I am not saying this is bad, my question is how do you decide what trades you enter? For example, after trade 3, you have several bearish impulses breaking FCRs but you don't enter. Is it to avoid continuations at all?
Hi Elizo,

Thanks for your question.

Good observation, in fact it is simply due to the fact that I can't do both the Europe and US sessions on all day's, so there are gaps in my trading where I am not at my screen. I mark the FCR's anyway for continuity purposes when I get back to the screen. What I might do is indicate start and stop times of my trading.

Hope that helps.
Survive and Preserve
  • #6,023
  • Sep 18, 2009 1:47am Sep 18, 2009 1:47am
now guys its logical to think that a retrace is coming at some point.. so watch the speed on that and if its hiccup don't be running away..
its good to bank 20 easy one... but its much better to bank 70.. but only if you could be patience and not too worry about leaving money on the table.. trade with confidence.. its your to take it.. your on the right direction of the market and you gott'em by its balls now don't let go so easily.. take the most advantage.. who knows this could run for 200pips..
  • #6,024
  • Sep 18, 2009 1:49am Sep 18, 2009 1:49am
Quoting fxachilies
Good Morning Guys,
I decided to not make a post about PA.. I think it will create confusion.. and complicates things.. we are all about simplicity and would like it to countinue so.. it would take away from "IF and THEN".. this thread is not a system or etc.. its about training your naked eyes with some simple tools at your disposal..
I rather go over things in the moment and give pointers when we are live trading.. hinsight is a different story..
I though about this alot last night, and honestly, I could not come up with something solid and more...
Hi Fx.

Ok no problems, there is enough gold scattered around here anyway for us guys.

Looking at my charts again overnight and responding to a couple of question people raised, it is clear to me that the trade was play #2 and I personally simply did not react fast enough to the fact that price was going nowhere - I simply should have bailed for -3 at worst, but didn't. Getting rid of this type of error will come in time I am sure.

Cheers
Survive and Preserve
  • #6,025
  • Sep 18, 2009 1:52am Sep 18, 2009 1:52am
Quoting fxachilies
played #2 to prefection... held my ground to the end.. and now playing IF and Then and dance his soung.. and sooner or later if it swings away i be in it for sure..

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

This a great example almost exactly what you drew on your play #1 and play #2 charts a few weeks back.
Survive and Preserve
  • #6,026
  • Sep 18, 2009 1:53am Sep 18, 2009 1:53am
Quoting andrewb7
hey guys , i m currently short
Also short from 1.4712
Survive and Preserve
  • #6,027
  • Sep 18, 2009 1:58am Sep 18, 2009 1:58am
Entered short at 14713
$urvive, Pre$erve & RESPECT THE TEACHER
  • #6,028
  • Sep 18, 2009 2:00am Sep 18, 2009 2:00am
guys.. if you exit here and bank 20-25 pips its great and its a solid profit.. only if you totaly give up on this bearish swing for good and the next trade would be only a reversal entery..
see the problem lays between what you do afterward when this bearish swing countinues.. you get my point..
you fall into ins and outs with maybe weak countinuation signals.. and worst, possibility of getting bottom picked and giving back all at the 20-25 pips that you just made and you be left with what out of this nice bearish 30-40 pips swing... thats right.. zero.. and not to mention the frustration and second gussing and all other junks that start to play in your head..

pick one style and stick with it and become the master of it..
  • #6,029
  • Sep 18, 2009 2:01am Sep 18, 2009 2:01am
Quoting mac1956
Entered short at 14713

Too +17 concerned about London opening
$urvive, Pre$erve & RESPECT THE TEACHER
  • #6,030
  • Sep 18, 2009 2:05am Sep 18, 2009 2:05am
excellent point.

what i need to do: PICK ONE STYLE AND STICK WITH IT
  • #6,031
  • Sep 18, 2009 2:05am Sep 18, 2009 2:05am
Quoting PaulLangham
Hi Elizo,

Thanks for your question.

Good observation, in fact it is simply due to the fact that I can't do both the Europe and US sessions on all day's, so there are gaps in my trading where I am not at my screen. I mark the FCR's anyway for continuity purposes when I get back to the screen. What I might do is indicate start and stop times of my trading.

Hope that helps.
Funny... just a matter of availability!

Sure it helps, thanks one more time.
  • #6,032
  • Sep 18, 2009 2:36am Sep 18, 2009 2:36am
how do you like this countinuation signal?


http://cdn.forexfactory.com/images/attach/gif.gif
Attached Image (click to enlarge)
Click to Enlarge Name: 133.gif Size: 27 KB
  • #6,033
  • Sep 18, 2009 2:37am Sep 18, 2009 2:37am
is everyone still in the short trade??
i have my s/l above fcr
Survive & Preserve
  • #6,034
  • Sep 18, 2009 2:41am Sep 18, 2009 2:41am
i exited for a solid 30pips only difference that i most likly banked more than you and more importantly i keept my options open..

did i give damn about leaving money on the table.. hell no.. if its meant to not happen its not meant to happen.. big deal next one.. If and then..
my job is to catch runners or don't give out so easy and bank as much as possible out of that given run..
30s solid pips this time..
  • #6,035
  • Sep 18, 2009 2:41am Sep 18, 2009 2:41am
Good morning guyz,

I totally missed this nice bearish move, so then, as Fx advises many times, I did not take the continuation sign, to get me in trouble...

I need to see a certain ranging period or the FCR @ 4704 being hitted for a reversal after the news...

Yesterday at night, I was reading one of these funny mails, that a buddy of mine sent me, and it said one thing that is very important in life, IMO, and also remembered me a lot to what we do here...

It said that ..." We simply cannot be in control of the 10% of things which happens in our lifes, but, on the other hand, the 90% remaining, comes as a result of how we act and respond to that 10 % "


I think this is so true, and matches perfectly to our style...
10% out of control = fakeouts, semi-fakeouts, loses...
90% remaining = Move #1 and #2, expectancy, patience, psychological reactions, etc..

  • #6,036
  • Sep 18, 2009 2:52am Sep 18, 2009 2:52am
Any wise guys who is in the america, please can you guys answer my question, I'm doomed.

I was unemployed, I asked my roommate who is a manager at local church's chicken to hire me coz I'm in need of money.
my roommate did hired me, but he stole hours from company in my name, which he shouldn't have done. I started working from 2 septumber but he stole 18 hours from company in my name starting and ending date was august 15 to august 30. I didn't work during that time coz I wasn't even hired. he cashed the check which was in my name.
How can I get him fired and arrest him for fraud?
Failure is the mother of success: learn from 'her'
  • #6,037
  • Sep 18, 2009 2:55am Sep 18, 2009 2:55am
i m still in the short, my s/l is above new fcr. see what happens
Survive & Preserve
  • #6,038
  • Sep 18, 2009 2:56am Sep 18, 2009 2:56am
the runner that ran away
  • #6,039
  • Sep 18, 2009 2:58am Sep 18, 2009 2:58am
Quoting K7420
Any wise guys who is in the america, please can you guys answer my question, I'm doomed.

I was unemployed, I asked my roommate who is a manager at local church's chicken to hire me coz I'm in need of money.
my roommate did hired me, but he stole hours from company in my name, which he shouldn't have done. I started working from 2 septumber but he stole 18 hours from company in my name starting and ending date was august 15 to august 30. I didn't work during that time coz I wasn't even hired. he cashed the check which was in my name.
How...

You put it in the hands of the police my friend. I don't knwo where you live, but in Britain that is fraud, which is a crime.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #6,040
  • Sep 18, 2009 2:59am Sep 18, 2009 2:59am
i was in the short , i had my tp at +50 & it hit it so out with + 50,
thanks fx , this is mainly because of u i held my position, i had the day off work 2day & re read all the important posts, maybe it is starting to sink in, i hope so.
cheers andrew
Survive & Preserve
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