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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)

  • #6,041
  • Sep 18, 2009 3:02am Sep 18, 2009 3:02am
First wise guys is a term used for gangsters so do you want this guys knees taken out? Second go to the bank and talk to them since they will have the check with the forged signature, third find a new room-mate - fourth become a better trader so you don't have to work at church's.

As for me I am done for the night - If I trade anymore I will give back that which I earned.
I make money anywhere in the world by taking orders
  • #6,042
  • Sep 18, 2009 3:03am Sep 18, 2009 3:03am
Quoting andrewb7
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

Well played Andrew! I'm a spectator on this one. Waiting for a consolidation or the reversal.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #6,043
  • Sep 18, 2009 3:13am Sep 18, 2009 3:13am
I have been a spectator this whole day. I am just watching and drawing my FCRs, ready for next week and to focus this time.

ANyways, have a dinner date tonight, might see you in NYC start
Survive and Preserve
  • #6,044
  • Sep 18, 2009 3:21am Sep 18, 2009 3:21am
Quoting andrewb7
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
nice job andrew atta way to hold this beyond the 4677 break..
I however did not.. market got me..

and for any of you that are still in this trade.. my hat its off to you... way to go.. i envy you.. lol
  • #6,045
  • Sep 18, 2009 3:49am Sep 18, 2009 3:49am
long on fcr..

http://cdn.forexfactory.com/images/attach/gif.gif
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  • #6,046
  • Sep 18, 2009 3:50am Sep 18, 2009 3:50am
currently long too. good friday to everyone, this one started nicely
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  • #6,047
  • Sep 18, 2009 4:01am Sep 18, 2009 4:01am
Quoting fxachilies
long on fcr..

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


The bear candle in your chart doesn't have a tail.
It does in mine which puts its high above the previous bull candle.
I discounted mine as an fcr - is that wrong?
$urvive, Pre$erve & RESPECT THE TEACHER
  • #6,048
  • Sep 18, 2009 4:03am Sep 18, 2009 4:03am
Quoting mac1956
Attachment

The bear candle in your chart doesn't have a tail.
It does in mine which puts its high above the previous bull candle.
I discounted mine as an fcr - is that wrong?

Actually forget that question - my eyesight pplaying tricks. Put it down to age - 87 years.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #6,049
  • Sep 18, 2009 4:03am Sep 18, 2009 4:03am
Quoting anthony500
currently long too. good friday to everyone, this one started nicely
so I take it you don't give hell about my countinuation signal preaches.. lol

thats cool.. it workedout this time ..
  • #6,050
  • Sep 18, 2009 4:06am Sep 18, 2009 4:06am
Quoting mac1956
Attachment

The bear candle in your chart doesn't have a tail.
It does in mine which puts its high above the previous bull candle.
I discounted mine as an fcr - is that wrong?
hey mac the fcr is at 4673 , that was the previous L/h, it made a new L/L then failed to make a L/H , then went past this point at 4673 which is an fcr, hope that helps
Survive & Preserve
  • #6,051
  • Sep 18, 2009 4:14am Sep 18, 2009 4:14am
Quoting andrewb7
hey mac the fcr is at 4673 , that was the previous L/h, it made a new L/L then failed to make a L/H , then went past this point at 4673 which is an fcr, hope that helps


Ooooooh yeeeeees!!!!
$urvive, Pre$erve & RESPECT THE TEACHER
  • #6,052
  • Sep 18, 2009 4:22am Sep 18, 2009 4:22am
Quoting fxachilies
nice job andrew atta way to hold this beyond the 4677 break..
I however did not.. market got me..

and for any of you that are still in this trade.. my hat its off to you... way to go.. i envy you.. lol
Hi fx,

I closed at 74 for +39 which is nice , now sitting long on FCR break from 76 with stop at BE
Survive and Preserve
  • #6,053
  • Sep 18, 2009 4:31am Sep 18, 2009 4:31am
Quoting andrewb7
hey mac the fcr is at 4673 , that was the previous L/h, it made a new L/L then failed to make a L/H , then went past this point at 4673 which is an fcr, hope that helps

My poor old brain has difficulty seeing things in reverse so I inverted the chart - and then it is obvious. Thanks Andrew
Attached Image (click to enlarge)
Click to Enlarge Name: INverted chart.gif Size: 42 KB
$urvive, Pre$erve & RESPECT THE TEACHER
  • #6,054
  • Sep 18, 2009 4:32am Sep 18, 2009 4:32am
Quoting fxachilies
so I take it you don't give hell about my countinuation signal preaches.. lol

thats cool.. it workedout this time ..
yes I know and have been thinking about this lol , this time it worked but yesterday I got top picked and lost on that long bullish ride because I reentered.. I guess both ways can work and for me the most important thing is to monitor my current gain (loss) a a particular trade. Once I get over 0.75 % gain I will trigger exit quite easily depending on the form of the candle , and maybe more important speed of the market and intuition.. that way I guess I will end up with quite a lot of trades between 0.75% - 1.25%.
I might not catch the real runners then in one trade like you (but several if i continue to take all the continuation patterns and they are successful like today).
But my goal right now is to win min. 1% every day on average , because I trade 1% on every single trade.. and so far I have been doing pretty good!!
  • #6,055
  • Sep 18, 2009 4:41am Sep 18, 2009 4:41am
still in this long trade by the way, my sl is now practillay at BE and on my entry, so nothing to lose
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  • #6,056
  • Sep 18, 2009 4:53am Sep 18, 2009 4:53am
Oh boys! I missed these two movements, being out of home. What a pity, but I hope we will have more "mambo" to come.

Glad to hear you all guys are piling up pips and pips.
  • #6,057
  • Sep 18, 2009 6:15am Sep 18, 2009 6:15am
Quoting anthony500
yes I know and have been thinking about this lol , this time it worked but yesterday I got top picked and lost on that long bullish ride because I reentered.. I guess both ways can work and for me the most important thing is to monitor my current gain (loss) a a particular trade. Once I get over 0.75 % gain I will trigger exit quite easily depending on the form of the candle , and maybe more important speed of the market and intuition.. that way I guess I will end up with quite a lot of trades between 0.75% - 1.25%.
I might not catch the real runners...
To Anthony and everyone,

statistics are a good way to get mislead.. belived or not..(feb made me understand it in one post in my early days of this thread)

on good days like today anyone can make money.. on so so days some peopel make money.. but on terrible days 95% lose money..
have your style set in away that you could make money at all times and be in that 5% winners on terrible days.. to survive and end up with fat bottomline eventually.. market can turn around any second and go through one of its craziest times.. you just don't know..
that approach of yours is good for a short term success.. when market is playing to your hand.. but oh boy and my god be on your side when it switches to one of his cycles crazy cycle, rangy and just right down nasty choppy monstery.. you will lose.. as you get chopped around and in week or two or a month you will give it all back and more..
been there done that budd..
everything i tell you guys is based on my hard earned and costly experience.. I have tried all approches with this style..

ok now.. here we go..
I am going to make a comparison for the sake of threads direction.. (this is not to take a shot at anthony or anyone.. please don't take it in a wrong way.. you do what you like.. everyone is different.. its just to make sure we as a group are on the same page and right path.)
our job discription here is to catch runners.. our mindset should be nothing different than that, in order to be successful in this style of trading.. otherwise you will not succeed.. i say this with total certainties and I put my mouth where my money is and prove it to you as we got a live example in hand.. read below..

live example:
I screwed up my short trade so i won't use myself as a example.. but
paul L.. is ahead of anthony in profit up to the moment based on this current down and up movment opportunities.. its evident if you do the math..
Pauls got it with two trades with runner mentality vs anthonys three trades with 1% gain mentality..
advantages with pauls approach..
for one.. it means less spread give away to beloved broker.. (less trades)
two.. keept options open for further gain from original entery..(in driver sit)
three.. not risking getting bottom/toped picked.. (no quick ins and out)
four.. end result.. its obvious.. more cash in pauls pocket.. and larger and consistent bottomline..
but number five.. this is the big one.. lol.. on bad days/weeks or even months Paul will at wrost endup breaking even.. but Anthony, he is lucky if he is still in business..

its straight forward certain fact Guys..

you be the judge now..
  • #6,058
  • Sep 18, 2009 6:26am Sep 18, 2009 6:26am
Quoting fxachilies
To Anthony and everyone,

statistics are a good way to get mislead.. belived or not..(feb made me understand it in one post in my early days of this thread)

on good days like today anyone can make money.. on so so days some peopel make money.. but on terrible days 95% lose money..
have your style set in away that you could make money at all times and be in that 5% winners on terrible days.. to survive and end up with fat bottomline eventually.. market can turn around any second and go through one of its craziest times.. you just don't know..
that...
Very very clear.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #6,059
  • Sep 18, 2009 6:47am Sep 18, 2009 6:47am
Quoting fxachilies
To Anthony and everyone,

statistics are a good way to get mislead.. belived or not..(feb made me understand it in one post in my early days of this thread)

on good days like today anyone can make money.. on so so days some peopel make money.. but on terrible days 95% lose money..
have your style set in away that you could make money at all times and be in that 5% winners on terrible days.. to survive and end up with fat bottomline eventually.....
Sixth, I would add another one: with this style of trading, YOUR MIND IS RESTED. Psychologically is much milder than other approaches, because you trade less, and you are the first to come into the bus, so you have more room to manage the deal (most of the times, to get out at BE or a few minimal pips).

This one makes a big difference to me: I need to trade absolutely relaxed and enjoying. Once I start to deal stressed I become a compulsive trader and it's just a matter of time to start losing money.
  • #6,060
  • Sep 18, 2009 7:04am Sep 18, 2009 7:04am
Quoting fxachilies
..................................................end result.. its obvious.. more cash in pauls pocket.. and larger and consistent bottomline..
but number five.. this is the big one.. lol.. on bad days/weeks or even months Paul will at wrost endup breaking even.. but Anthony, he is lucky if he is still in business..

its straight forward certain fact Guys..

you be the judge now..
Another gold touch buddy....
I think most of us have that set into our minds... and try to follow this approach everytime

It is amazing the clear way you see everything, and how you fight against our bad habits.....

THANKS buddy for doing that...
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