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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)

  • #6,401
  • Sep 22, 2009 6:20am Sep 22, 2009 6:20am
Quoting vlady1974
Hi FXAchilles,

Thanks for the posts. I didn't mean to appear to be getting "undue" assistance without doing homework.

I will study this in my own time then. Reviewing your notes, I think it will be a good idea to revise them again to make them clearer. I can help you with that as I do computer training as part of my day-job.

Thanks for all your efforts to date,

Vlad


p.s.
For other newbies to the system, based on what FXAchilles has given to me, I've copied these from my notes:

OBJECTIVE:
To catch running trades by using...
that is prefectly done.. nice job.. you are officially welcomed to our thread my friend.. lol
very very helpfull thing you have done here for newbies and all of us..

Thank you.
  • #6,402
  • Sep 22, 2009 6:22am Sep 22, 2009 6:22am
Quoting gevellber02
what is a BB?
Outted another one.
  • #6,403
  • Sep 22, 2009 6:22am Sep 22, 2009 6:22am
Good morning to all,

I would like to say just a few things about the integrity of this thread..... I am completely in agreement with Fx that we need to stay the course and not allow distracting/confusing comments and ideas to ruin what we got here. We as traders and participants, especially those of you who have benefited from the hard work and unconditional generosity of Feb, Fx and others need to step up and protect this thread from anything that detracts us from our goal here. Let us not leave all the dirty work to Fx.... speak up and show your support by not allowing, even well intended people, to waste our time with comments that do not support the core of ideas that have made this thread so popular. If you are one of those who think that your approach is better...fine...great... open up your own thread and do the hard work of keeping going..don't come here and try to change things.... Think of joining this thread as if you were going through security at the airport...leave all toxic and dangerous items behind..take your shoes off...no better yet, take your clothes off and get naked and you will be able to participate enjoy the ride.

Ok, enough said...let us focus on the task at hand...
Unus pro omnibus, omnes pro uno
  • #6,404
  • Sep 22, 2009 6:23am Sep 22, 2009 6:23am
Quoting en0x
BB = bracket Breakout(or you might call it a range breakout)
I do believe that's incorrect sir.
  • #6,405
  • Sep 22, 2009 6:26am Sep 22, 2009 6:26am
Thanks very much vlady1974. I have been silently reading through that post will be a very big help. Thanks very much mate...
  • #6,406
  • Sep 22, 2009 6:28am Sep 22, 2009 6:28am
BB not equal bracket breakout?
Quoting cunparis
I do believe that's incorrect sir.
Survive and Preserve
  • #6,407
  • Sep 22, 2009 6:28am Sep 22, 2009 6:28am
I think BB is bread and butter ........ the famus 123 setup
  • #6,408
  • Sep 22, 2009 6:30am Sep 22, 2009 6:30am
Quoting kazaroval
I think BB is bread and butter ........ the famus 123 setup
We have a winner!
  • #6,409
  • Sep 22, 2009 6:30am Sep 22, 2009 6:30am
Aggh, I need to get my acronyms right. Okay, well as I see it its a bracket breakout(BB2 then)


Quoting kazaroval
I think BB is bread and butter ........ the famus 123 setup
Survive and Preserve
  • #6,410
  • Sep 22, 2009 6:35am Sep 22, 2009 6:35am
Quoting fxachilies
hi guys,
i don't know whats the problem with FF it takes forever to refresh a page, it took me 10min to go through 3pages and skip through all your post..
I love the participation.. it only makes us grow.. and most almost all of you came up with the right answers and great comments.. its awsome..
the answer there is:
yes it is a fcr.. but its not really a reversal.. I hope it makes sense..
the next part the answer is a Big NOOOOOOO.....
Theres your answer
  • #6,411
  • Sep 22, 2009 6:38am Sep 22, 2009 6:38am
Quoting fxachilies
hi guys,
i don't know whats the problem with FF it takes forever to refresh a page, it took me 10min to go through 3pages and skip through all your post..
I love the participation.. it only makes us grow.. and most almost all of you came up with the right answers and great comments.. its awsome..
the answer there is:
yes it is a fcr.. but its not really a reversal.. I hope it makes sense..
the next part the answer is a Big NOOOOOOO.....
Theres your answer post 6175 BB= Bracket Breakout
  • #6,412
  • Sep 22, 2009 6:41am Sep 22, 2009 6:41am
Quoting FOURX
If anybody wants a method of to help them get used to the allowing the trade to run, try this!

when price has moved into profit half the distance of your stop/risk (20pip stop = 10pips), close 2/3 of the trade and allow the trade to develop from there.

when you close 2/3 you cannot lose on the trade,so you can relax and watch it develop

Fx. if you do not agree with me posting this let me know and i will delete

I'm a long time follower of this thread, and have myself tried tinkering and changing things, only to my own sorrow. I tried closing 2/3 of the trade at half the level of the stop-loss as in the post above for a few months and it only kept my account fluctuating up and down at around the same level. It may work on higher time-frames but it doesn't work here, because when you get a runner, you only get 1/3 of the value of it. I was doing this because I had the mentality of being afraid of losses.

Ever since I've been following Feb's and FX's teachings here almost to the letter and following the thread closely everyday, my trading technique, psychological approach to losses (when to quit), and bank account have improved tremendously.
  • #6,413
  • Sep 22, 2009 6:41am Sep 22, 2009 6:41am
Short was just triggered .
Attached Image (click to enlarge)
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Survive and Preserve
  • #6,414
  • Sep 22, 2009 6:42am Sep 22, 2009 6:42am
Quoting FOURX
Theres your answer post 6175 BB= Bracket Breakout
http://www.forexfactory.com/showpost...postcount=4272

Quote
1-2-3 is our bread and butter (BB)
  • #6,415
  • Sep 22, 2009 6:43am Sep 22, 2009 6:43am
Quoting en0x
Short was just triggered .
Me too but there is way too much consolidation, in other markets as well. I don't like it.
  • #6,416
  • Sep 22, 2009 6:43am Sep 22, 2009 6:43am
How about we just cut out acronyms for the sake of clarity alright?
Quoting cunparis
http://www.forexfactory.com/showpost...postcount=4272
Survive and Preserve
  • #6,417
  • Sep 22, 2009 6:46am Sep 22, 2009 6:46am
Playing number 2.
Quoting en0x
How about we just cut out acronyms for the sake of clarity alright?
Survive and Preserve
  • #6,418
  • Edited 7:00am Sep 22, 2009 6:52am | Edited 7:00am
Everyone,

Thank you for your replies.
I've just updated the FCR section with the recent post (thanks FourX).

I think what I want to do is break down each component of the system and write it up so as to summarise what has been defined in the past. FXAchilles, if you don't mind I'll get you to approve it before posting it to the board. Perhaps you can even get FEB to give it his seal of approval as well.

The reason I want to do this is because of the following:

a) I'm not a new trader, but I am new to the system - so I want to learn a trading technique/system, not trawl through a library to find scattered different meanings of a word.
b) Some traders could be totally new to trading - and I remember I needed more help beyond the system, so it was helpful to get good factual advice about the reality of trading.
c) The best way a system can be first learned, is by clear definitions
d) Systems that have developed over time from basic principles are often interpretations of the original thought
e) Rather than rely on interpretations, let us agree on our language so that terms are not up for interpretation and we can form meaningful sentences of FACT when we talk about our trades.
f) This will allow us to Talk and Share more sensibly about points where we don't agree
g) It will help train other traders new to the system.

I believe Feb started out this way, writing out basic principles or an approach to trading. Since we have all been indoctrinated into this system in some way or another, I feel this is the first system that is actually so easy to follow that surely documenting it properly shouldn't be difficult either.

So the first subject I want to tackle is FCR. You can reply to me privately if you have some input. I will compile this information in the next coming days/weeks (yes, I do have a day job) for my own learning... and I will re-write it for approval by FXAchilles.

Cheers,

Vlad
Find that Running Trade!
A pip is only worth it if you know how much you risked to earn it
  • #6,419
  • Sep 22, 2009 6:58am Sep 22, 2009 6:58am
Closed out played number 2, this trade didnt have any momentum/
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Survive and Preserve
  • #6,420
  • Sep 22, 2009 7:00am Sep 22, 2009 7:00am
Quoting vlady1974
I think what I want to do is break down each component of the system and write it up so as to summarise what has been defined in the past. FXAchilles, if you don't mind I'll get you to approve it before posting it to the board. Perhaps you can even get FEB to give it his seal of approval as well.
Vlady - I applaud your effort. I have read almost the entire thread (still working on 2 weeks I missed in August) and I still go back to posts that people recommend. For me it's difficult to learn a method that evolved over a period of months (6+). I think consolidating everything is a great idea.

I will still recommend that everyone read the entire thread because seeing the trades posted live in real-time gave me a great feeling of confidence and it also gave me a lot of insight into how FX and the others trade. It takes a while but it's worth it.
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