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The System II (Yes with irony)

  • #6,101
  • Sep 18, 2009 11:50am Sep 18, 2009 11:50am
Hi Fx & friends . 1st post BUT , I have read the whole thread twice , so be nice with me just today
Still have lot of questions ...
My trades so far :
Trade 1 :should have exit at the Triple Top when I saw price can not break 1.4730
Trade 2: for me, at this point I would consider this as a good trade .Close the trade as price was not able (at that moment) to break yesterday's low .
Trade 3 : miss a nice opportunity...did not let the price enough room. Not clear yet how much correction to allow the trade to move against me before I exit .
Trade 4 : Fake BO . -14 . Should have exit earlier .
Trade 5 : Nice run of +20. Watched again closely Y's low as a possible res. level . Is the entry at the correct point ?
Total for today 24 pips
Would love to hear your remarks
Regards
David
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  • #6,102
  • Sep 18, 2009 12:33pm Sep 18, 2009 12:33pm
Quoting tghfbt8
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.
NO..
and its not "long runner lovers"..
I urge you to read both threads before you ask such question.. there two different animals..
not tring to argue either brother.. peace..
  • #6,103
  • Edited 11:34pm Sep 18, 2009 7:34pm | Edited 11:34pm
Quoting PaulLangham
Hey Fx,


[font=Times New Roman][size=3]We also have ‘get one in bag’, or ‘nothing wrong about locking in profit’, ‘never a bad idea to take money off the table’. This is actually the same as saying cut your winners SHORT. but written in such a way as to suggest that it is a good trading technique.. Let me qualify that, there is nothing wrong with taking money off the table, but only when price has told you it is time to do, not because the trader is scared and does not want to blame it on a supposed...
This is an excellent post paul. I am new to Fourex and trading in general. I have been reading various books and count myself lucky to have stumbled across this thread without wasting too much time elsewhere. I have read its ‘never a bad idea to take money off the table’ and I think subconsciously its been affecting by trading. Thanks for highlighting that

Now I need to work out when to "Cut a loser short" and when to "give it room to breathe". Practice, Practice, Practice
"Save your ass, then go for profit"
  • #6,104
  • Sep 19, 2009 2:19am Sep 19, 2009 2:19am
Quoting elizo
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.
thats right elizo,
you take many shots with very minimal risk (if act accordingly like beign first on on the bus and play #1&2) and once your on the right side of the market your pretty much riding free and with a bit of patience and self control you can sitback and collect and if you keep playing #1 you will collect in bundells..
  • #6,105
  • Edited 2:58am Sep 19, 2009 2:46am | Edited 2:58am
Quoting david4u
Hi Fx & friends . 1st post BUT , I have read the whole thread twice , so be nice with me just today
Still have lot of questions ...
My trades so far :
Trade 1 :should have exit at the Triple Top when I saw price can not break 1.4730
Trade 2: for me, at this point I would consider this as a good trade .Close the trade as price was not able (at that moment) to break yesterday's low .
Trade 3 : miss a nice opportunity...did not let the price enough room. Not clear yet how much correction to allow the trade to move against me before I exit .
Trade...
Hi dave.. good to hear you broke the virginity.. lol

about your trades.. its good and its got flaws.. but its ok bcz it takes time to get the hang of this.. and the more you get involve in the forum with asking sound questions and chart displays the sooner you get better..
quick comments..
your trade two is on the money the only thing is you need to let it ride.. so trade three would have never happened and you would have been able to bank atleast 40..
you trade one & four.. what conserns me the most.. you need to play the #1&2.. when you make entery the first thing should be in your head is how I am going to survive this and put yourself to test to do the best possible job to play #2 if its a fakeout and #1 if its a semi fakouts and possibly a long ride.. (you should have exited trade four under -5pips.. and trade one with small profit)
trade five.. there is not a clear early entery based on our entery category.. you don't have to be in every move you know.. if the setup is not there don't bother with it, atleast for now.. maybe once you get a few months under your belt with this style and really get hang thing and build a solid trader intution with this style then you can recognize such moves early and get in on top..
I made 22 pips on that ride.. do I advise you do it now?.. hell no.. but in a few months after alot of practise, hardwork, studytime, dedication, you will see those opportuities automatically and would be able to take advantage.. and have build a discipline within to know how to get out of them with less damage when things go wrong..

so overall for a newbie you did good.. your +24..
as good as I am, my daily goal is 50.. thats what i shoot for.. what I get above that is bonus.. I save if for rainy days of the market..

Nice job.. stick at it..
  • #6,106
  • Sep 19, 2009 3:46am Sep 19, 2009 3:46am
I put up my friday chart and trades with some explenations.. compare it to yours.. watch as how i have drawn all my horzontal lines.. red lines are recognition of end and start of swings.. Gray lines are fcr's.. thats it two lines with a bit of patience brings it home guys.. simple
blue shades=enteries
yellow thick lines =exits

+101 for the day with one silly bobo.. anyhow double my daily goal..

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  • #6,107
  • Edited 8:51am Sep 20, 2009 8:34am | Edited 8:51am
Hi Fx , Tks for your answer . Regarding this trade . It's a fakeout . Never been in the green side.
We can see very clear that we are in an uptrend. PA making new Hs & Ls.
At the moment I entered the trade where should be placed the SL ?
I can see only the obvious place under the last low at point A .
Do you see any other place ? Bellow the low of bar 0 ?!
On the 1st bar after I entered we see the price already bellow the last FCR @ 1.4714 .That should be my warning signal to exit the trade ?
If I trust in my analysis that we are in an uptrend so the SL should be bellow point A and we can see that at that moment , that low have held.
BUT .... the price to check my theory would have been to risk 25 pips .
So where would you exit and why ? at candle 1, 2, 3 ?
In other words , minimal tolerance when we enter a trade and maximum tolerance to catch a runner ?
Fx , If that's the way you recommed to play possible fakeouts , why can't we have a solid SL of around 5-8 pips ?
In some cases when there was a range I saw you place 2 Stop orders with 20 pips SL ? Is this a preventive SL ?
Is there a maximum SL that you are ready to lose or it depends in many parameters ? Can it be that you'll leave you SL under point A or this is something that can NEVER happen ?
Tks
David
Quoting fxachilies
you trade one & four.. what conserns me the most.. you need to play the #1&2.. when you make entery the first thing should be in your head is how I am going to survive this and put yourself to test to do the best possible job to play #2 if its a fakeout and #1 if its a semi fakouts and possibly a long ride.. (you should have exited trade four under -5pips.. and trade one with small profit)
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  • #6,108
  • Sep 20, 2009 10:36am Sep 20, 2009 10:36am
Quoting david4u
Hi Fx , Tks for your answer . Regarding this trade . It's a fakeout . Never been in the green side.
We can see very clear that we are in an uptrend. PA making new Hs & Ls.
At the moment I entered the trade where should be placed the SL ?
I can see only the obvious place under the last low at point A .
Do you see any other place ? Bellow the low of bar...
Dave,
I put my sl away from heat.. in this case on the other side of the bracket since this is a bracket breakout.. so point A as you suggested yourself where my sl would be..

I will not exit at either one (1,2,3,4) options.. I play #2.. to survive the fakeout with the lowest damage.. (please read post 4219).. you said you read the whole thread twice , so you should know all the important posts..

look don't wary sl's so much.. if your trading scared you will never succeed in this style of trading or trading in general..
my sl is always was away from heat.. mostly the reason I place a sl is when i am either away from the screen or to protect myself from unexpected things like internet disconnection or silly spikes or etc.. its hardly a decision maker for me..
i let the price to show his true color and i play the surviving game till i get the runner..
the only time my sl is being hit is when price fakesout and gives no chance for a pullback and it countines in straight line.. most i will lose is around 25-30 pips.. bcz i watch the speed.. sometimes i even get away with less.. thats when i spot the extream speed so i hit the panic botton... this whole scenario happens rearly.. (if your enteries are accordingly.. and not on toomuch countinuation signals) so playing #2 surviving game is the way to go.. you survive most times and don't get decieved by price early then you turn the table around and endup making some profit or possibly catch a runner..

ps).. 7414 spot is not a fcr.. fcr is a revesal signal and what you got there is a price countinuation out of bracket.. (please read the fcr post)..

I hope it helps..
  • #6,109
  • Sep 20, 2009 3:21pm Sep 20, 2009 3:21pm
Hi All,Had some problems connecting to the site Friday after trading then discovered it was a virus on my machine which took a little time to get rid of.Ok, so here are Friday`s trades.Will be back on Monday to asnwere any questions.
Survive and Preserve
  • #6,110
  • Sep 20, 2009 3:31pm Sep 20, 2009 3:31pm
Charts
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Survive and Preserve
  • #6,111
  • Sep 20, 2009 10:52pm Sep 20, 2009 10:52pm
Quoting PaulLangham
Charts
your most flawless trades yet..
very nice Paul.
  • #6,112
  • Sep 21, 2009 1:07am Sep 21, 2009 1:07am
how do you guys like this rundown.. gives all kinds of looks and reasons to get out of short trade.. mjore fcr is holding up, but certainly not a smooth bearish ride.. I wonder how countinuation signal lovers are feeling it?... lol..

i am short since break of 4682.. but a very rough ride as you see.. yukkkkk
  • #6,113
  • Sep 21, 2009 1:21am Sep 21, 2009 1:21am
Quiz:
can somebody give me the correct last three fcr's?
  • #6,114
  • Sep 21, 2009 1:29am Sep 21, 2009 1:29am
FCR ,
1: 4690
2: 4680
3: 4673

Sorry cant include a chart now, but those are the FCR peaks
Survive and Preserve
  • #6,115
  • Sep 21, 2009 1:30am Sep 21, 2009 1:30am
Quoting fxachilies
Quiz:
can somebody give me the correct last three fcr's?
I'll have a go... 4660, 4673 and 4681
"Save your ass, then go for profit"
  • #6,116
  • Sep 21, 2009 1:30am Sep 21, 2009 1:30am
I traded short ont he first break, premature time wise, closed it out at 0 when a big old candle shot up straight to the breakout point,

I should hold my ground harder shouldnt i?

Quoting fxachilies
how do you guys like this rundown.. gives all kinds of looks and reasons to get out of short trade.. mjore fcr is holding up, but certainly not a smooth bearish ride.. I wonder how countinuation signal lovers are feeling it?... lol..

i am short since break of 4682.. but a very rough ride as you see.. yukkkkk
Survive and Preserve
  • #6,117
  • Sep 21, 2009 1:31am Sep 21, 2009 1:31am
Good morning guyz, , and good new trading week to everyone...

Fx,
Are these the correct last fcr's?
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  • #6,118
  • Sep 21, 2009 1:33am Sep 21, 2009 1:33am
Hi people!!!

I am glad I am again here...

During summer I had to work something at job to accumulate few money for my account... and some times I was here at FF forum, and even did try to understand some others systems which are at FF... So during sommer period I did do 3 different things... 1) I did work (as shop assistant), 2) I read some others threads here (not very often), and 3) because I did ask a lot already about WHAT EXPECTANCY IS here, and Feb and Fxahilies did answer me very lot, I had myself understand WHAT IT IS!!! And I think - I DID IT, because I worked about this very lot...

Now... I think I understand much better WHAT EXPECTANCY IS. I did not ask about this since last spring, because I did think that these 2 great men (FEB and FXAHILIES) did explain me EVERYTHING about IT, and I have to understand it on one's own...

This is fantastic easy, when you understand what it is....

I did realize what IT is...

THE TRADE HAVE TO GO MY WAY, WITHIN RESONABLE TIME, WITH RESONABLE SPEED, AND AT RESONABLE DISTANCE!!!!! THAT IT IS!!!!!

And another - I DO NOT HAVE TO CONSIDER EVERY SINGLE TRADE AS RESULT OF MY TRADING... I HAVE TO TRADE MY STYLE AND CONSIDER A WHOLE PERIOD (week, month, 3 month) AS MY TRADING RESULT!!!

Losses are just losses. Make sure they are smaller than your winners, in aggregate, and you're home free!!! Only losers get so freaked about having
losses... Winners consider their whole tradeplan...

So, guys, if you will give me green light I want to trade with you here, with my trade-family... Honestly - I miss you!

Thanks!

P.S. Fxahilies!!!! I like your fx.cr.rever. (FCR)!!!
  • #6,119
  • Sep 21, 2009 1:33am Sep 21, 2009 1:33am
Good morning,
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Unus pro omnibus, omnes pro uno
  • #6,120
  • Sep 21, 2009 1:37am Sep 21, 2009 1:37am
You know what I need
to GROW SOME BIG BALLS, pure and simple.


Quoting fxachilies
how do you guys like this rundown.. gives all kinds of looks and reasons to get out of short trade.. mjore fcr is holding up, but certainly not a smooth bearish ride.. I wonder how countinuation signal lovers are feeling it?... lol..

i am short since break of 4682.. but a very rough ride as you see.. yukkkkk
Survive and Preserve
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