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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)

  • #6,081
  • Sep 18, 2009 9:06am Sep 18, 2009 9:06am
Quoting K7420
Man, what is going on, did everybody managed to get out at B/E?
I've exited at BE the long trade...
  • #6,082
  • Sep 18, 2009 9:09am Sep 18, 2009 9:09am
-23 pips for me. I don't know if I did something wrong?
Failure is the mother of success: learn from 'her'
  • #6,083
  • Sep 18, 2009 9:15am Sep 18, 2009 9:15am
Got out when the PA rebounded away from the high of yesterday for +7, then caught the short at the fcr but a bit late at 14714. So shocked myself I tripped a buy for +2 (stupid I know but I was a bit shaken at how fast it all went). Re-entered at 14701 short. My god this is fun all of a sudden.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #6,084
  • Sep 18, 2009 9:18am Sep 18, 2009 9:18am
Quoting mac1956
Got out when the PA rebounded away from the high of yesterday for +7, then caught the short at the fcr but a bit late at 14714. So shocked myself I tripped a buy for +2 (stupid I know but I was a bit shaken at how fast it all went). Re-entered at 14701 short. My god this is fun all of a sudden.
I didn't even think of taking the FCR. Are we supposed to do that in this case? I thought we take FCR when there is a double bottom or something. This made a higher high..

I'm waiting for a pullback now for our BB trade.
  • #6,085
  • Sep 18, 2009 9:21am Sep 18, 2009 9:21am
Quoting K7420
-23 pips for me. I don't know if I did something wrong?
It depends on how aggressive you want to be with stops. I was being really patient and kept getting stopped out for -20 so now if I don't like the price action I exit. I actually exited this one on a profit of 2 ticks. I felt stupid for doing it afterwards as I saw price shoot up but eventually I was quite glad I got out.

This is the part of trading that is an art. You get intuition. It takes a while (Mine is still not good I just got lucky on this one). Takes practice.

In the beginning of this thread Feb said if you're up and you see price dropping back down to our entry that we should hit the panic button. I think most here are really patient. I'm not sure which way is best.
  • #6,086
  • Sep 18, 2009 9:28am Sep 18, 2009 9:28am
Quoting cunparis
I didn't even think of taking the FCR. Are we supposed to do that in this case? I thought we take FCR when there is a double bottom or something. This made a higher high..

I'm waiting for a pullback now for our BB trade.

Out with + Maybe I haev this fcr definition wrong then, but the third bear candle closes hight (marginally) than the one previous having also a higher high than the one before it. I took that as an fcr. Time to learn if I've made an error, but it paid off. I'm still in the trade.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #6,087
  • Sep 18, 2009 9:34am Sep 18, 2009 9:34am
Quoting mac1956
Out with + Maybe I haev this fcr definition wrong then, but the third bear candle closes hight (marginally) than the one previous having also a higher high than the one before it. I took that as an fcr. Time to learn if I've made an error, but it paid off. I'm still in the trade.
Out +5 for all that.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #6,088
  • Sep 18, 2009 9:35am Sep 18, 2009 9:35am
My trades for the last 12 hours.
Attached Image (click to enlarge)
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  • #6,089
  • Sep 18, 2009 9:35am Sep 18, 2009 9:35am
Quoting mac1956
Out with + Maybe I haev this fcr definition wrong then, but the third bear candle closes hight (marginally) than the one previous having also a higher high than the one before it. I took that as an fcr. Time to learn if I've made an error, but it paid off. I'm still in the trade.
To be sure we're talking about the same thing, is this a valid FCR for going short? (referring to going short on the big move down from the high)
Attached Image (click to enlarge)
Click to Enlarge Name: 20090918 Euro FCR question.png Size: 28 KB
  • #6,090
  • Sep 18, 2009 9:37am Sep 18, 2009 9:37am
Quoting mac1956
Out with + Maybe I haev this fcr definition wrong then, but the third bear candle closes hight (marginally) than the one previous having also a higher high than the one before it. I took that as an fcr. Time to learn if I've made an error, but it paid off. I'm still in the trade.

Got a load of signals all wrong there - pure idiot's luck. Back to basics for me!
$urvive, Pre$erve & RESPECT THE TEACHER
  • #6,091
  • Sep 18, 2009 9:43am Sep 18, 2009 9:43am
Quoting anthony500
Hey FX,

Great post and I perfectly understand that it's the mentality of the post to catch runners the way you are doing and it's the way it should stay this way! Some others like Dare of myself might have slighly differents rules and if it works for us like this up to now then good. However for the newbies not to get confused I agree it's easier if everyone of them trades the way you are currently teaching as you are leading this thread in a great way!

It's been a long time since I don't count pips anymore as I concentrate on % gains only but...
the point of the post is long term bottomline anthony..

but my comparison and live example is right on the money..
you made 45pips in two trades = 23.5 pips per trade..
paul made 39 in one trade = 39 per trade..
paul is way ahead and + if you know what i mean ..

you want proof about which approach and don't belive me.. simple commonsense tells you that runner approach is better by head and shoulder in the long run.. try it for even a month and you'll know..
still not a beliver.. ask feb.. if he tells you otherwise i will quit having sex forever.. lol..
but you know what.. you need to find out the hardway.. you dont feel it now bcz market is playing to your hand as soon as it changes then we will talk again..
Paul in six months is sitting on pile of profit and you be at best at breakeven..
and thats another fact my friend..

Good luck budd..

PS) the runner mentality.. is not something that i am teaching.. this what feb is teaching and this thread is all about i am just countinuing his approach and keeping the thread on the right proven direction..
out of every 100 people that come and go in this thread only about 5 really get it and maybe one or two really really get it and become profitable..
  • #6,092
  • Sep 18, 2009 9:45am Sep 18, 2009 9:45am
Quoting cunparis
To be sure we're talking about the same thing, is this a valid FCR for going short? (referring to going short on the big move down from the high)

Attached Image (click to enlarge)
Click to Enlarge Name: Chart 18th.gif Size: 42 KB


I've highlighted what I took in my haste to represent a slight pullback.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #6,093
  • Sep 18, 2009 9:54am Sep 18, 2009 9:54am
Quoting mac1956
Attachment

I've highlighted what I took in my haste to represent a slight pullback.

I'm a fucking dunce.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #6,094
  • Sep 18, 2009 10:02am Sep 18, 2009 10:02am
Euro surprised me I was waiting for the pullback entry and instead got a BB trade in the other direction (long).
Attached Image (click to enlarge)
Click to Enlarge Name: 20090918 Euro long.png Size: 27 KB
  • #6,095
  • Sep 18, 2009 10:06am Sep 18, 2009 10:06am
Hi Guys,

Who's the Feb dude who wrote this thread?
Cool stuff in it.
SS
  • #6,096
  • Sep 18, 2009 10:16am Sep 18, 2009 10:16am
Quoting cunparis
Euro surprised me I was waiting for the pullback entry and instead got a BB trade in the other direction (long).
I'm out at BE. 3 period rule.

Market is really dead. I'm thinking of calling it a day..
  • #6,097
  • Sep 18, 2009 11:14am Sep 18, 2009 11:14am
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  • #6,098
  • Sep 18, 2009 11:19am Sep 18, 2009 11:19am
most likely my last trade of the week.. I would love to finish out with a runner..

http://cdn.forexfactory.com/images/attach/gif.gif
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  • #6,099
  • Sep 18, 2009 11:24am Sep 18, 2009 11:24am
Quoting fxachilies
simple commonsense tells you that runner approach is better by head and shoulder in the long run..
No trying to argue but shouldn't long runner lovers hang in The System I thread?
I mean the runner there is much bigger. 300 pips for the last swing.
Plenty of salami to put on bread.
  • #6,100
  • Sep 18, 2009 11:28am Sep 18, 2009 11:28am
Out for the week-end.
Thanks for all the posts by fx and rest of the gang.
Been trading for over 20 years and think I have put indicators in the past, really have to agree following PA and this system is the way to go although I am reluctant to give up my TL drawing.
I also have 2 chart patterns that I will continue to exploit. Did 7 trades this morning, won 5 for 38 pips,

See all Monday..
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