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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)

  • #6,721
  • Sep 23, 2009 6:22am Sep 23, 2009 6:22am
Quoting mac1956
Into the teeth of the chop monster potentially.

Yup, stupid trade to be in - keeps me out of the running for a long reversal, and out of reach of an effective #2. Now consigned to luck of the draw. Fun though, and very small stake on this one.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #6,722
  • Sep 23, 2009 6:22am Sep 23, 2009 6:22am
I have a long set for 1.4786..
Survive and Preserve
  • #6,723
  • Sep 23, 2009 6:24am Sep 23, 2009 6:24am
Quoting dim4ik42
Who is willing to buy on th rcf at 1,4784???

I don't think IMHO this has formed into an FCR yet - we have a 1 but no pullback.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #6,724
  • Sep 23, 2009 6:28am Sep 23, 2009 6:28am
Tempted to just close shop. goto sleep, wake up two hours earlier and see what the FOMC moves the market, then trade the aftermath
Quoting mac1956
I don't think IMHO this has formed into an FCR yet - we have a 1 but no pullback.
Survive and Preserve
  • #6,725
  • Sep 23, 2009 6:28am Sep 23, 2009 6:28am
Quoting moneda
Jplo,

In most cases we know from Feb and others that the first swing of a new session gives us the action that we are looking for aside from major news releases when we wait for the dust to settle. However, in this case we can not get caught up on concepts...you need the flexibility to act regardless of whether it is at the beginning of the session or not. I think that Mac touch on this in one of his posts. In cases like we have atm, [color=red]I tend to put my orders a bit higher/lower than the bracket.. I rather loose a few pips than get caught...
This is exactly what I'm doing right now...

For sure it helps, buddy,

Thanks
  • #6,726
  • Sep 23, 2009 6:30am Sep 23, 2009 6:30am
Quoting en0x
I have a long set for 1.4786..
En0x,

If I may, why at 86 when you have the high of 89 as the fcr... did you add spread + a few pips?



Good luck
Unus pro omnibus, omnes pro uno
  • #6,727
  • Sep 23, 2009 6:34am Sep 23, 2009 6:34am
Yes, that price does make more sense.
Thanks yoda(guider of young jedi)
Quoting moneda
En0x,

If I may, why at 86 when you have the high of 89 as the fcr... did you add spread + a few pips?



Good luck
Survive and Preserve
  • #6,728
  • Sep 23, 2009 6:40am Sep 23, 2009 6:40am
Quoting mac1956
I've taken this short at 14772

Hi Mac,

Can I add soemthing here.

A few days back FX covered the question of entering late in the swing - I know all about this bad habit - and what i see here is that even though this 'swing' is only 30 pips or from 1.48 down to 1.4770 it has taken nearly all morning at the speed we are going today. Therefore to me this is joining the train once he is quite far out of the station, even though in terms of actual pips we are not that far out.

Now, take a look at my charts from last night and 'volia' who do you see doing exactly the same thing, yes me So have no fear I know what this is all about - from a frist hand perspective LOL

On a serious note take a look at FX's charts see how he always joins the train before it has left the station ? In doing so he makes sure if the thing comes to a spluttering halt a few yards out he gets out and waits for the next one.

I anycase hope this helps, not an easy one to crack but it will come

Hope this helps
Survive and Preserve
  • #6,729
  • Sep 23, 2009 6:41am Sep 23, 2009 6:41am
Quoting moneda
En0x,

If I may, why at 86 when you have the high of 89 as the fcr... did you add spread + a few pips?



Good luck

Hi Moneda,

If this is to reverse into an upswing (hope it doesn't just yet!), then isn't the currently forming FCR which now has a HH of 1.4789 and seems to be pulling back the one to be watching? Is that the one you mean? Are we talking about the same thing?
$urvive, Pre$erve & RESPECT THE TEACHER
  • #6,730
  • Sep 23, 2009 6:44am Sep 23, 2009 6:44am
Quoting PaulLangham
Hi Mac,

Can I add soemthing here.

A few days back FX covered the question of entering late in the swing - I know all about this bad habit - and what i see here is that even though this 'swing' is only 30 pips or from 1.48 down to 1.4770 it has taken nearly all morning at the speed we are going today. Therefore to me this is joining the train once he is quite far out of the station, even though in terms of actual pips we are not that far out.

Now, take a look at my charts from last night and 'volia' who do you see doing exactly the same thing,...
I absolutely agree with what you're saying. My novice mondset saw the hour each step down in teh swing as a sort of consolidation pattern - which, of course, it is not. My tendency, especially when things are moving slowly, is to sit here hallucinating from wishful thinking rather than seeing what is quite simply self-evident on the screen.

And Paul, it helps - never doubt it!
$urvive, Pre$erve & RESPECT THE TEACHER
  • #6,731
  • Sep 23, 2009 6:50am Sep 23, 2009 6:50am
Quoting mac1956
Hi Moneda,

If this is to reverse into an upswing (hope it doesn't just yet!), then isn't the currently forming FCR which now has a HH of 1.4789 and seems to be pulling back the one to be watching? Is that the one you mean? Are we talking about the same thing?
Mac,

Well, yes atm it is the one we should be drawing a line. Let us not forget that candle formation/price can be different depending on broker's time zone and pricing. So trade what you see on your trading platform. Personally, with this approach I do not pay much attention to the color nor patterns formed by candles... I look at price and what is doing to create situations that conform to the IF/THEN part of our trading... sorry, if I got off the subject.
Unus pro omnibus, omnes pro uno
  • #6,732
  • Sep 23, 2009 7:08am Sep 23, 2009 7:08am
long on this ugly fakeout.....

Let's play an agrassive #2
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  • #6,733
  • Sep 23, 2009 7:11am Sep 23, 2009 7:11am
Quoting mac1956
Yup, stupid trade to be in - keeps me out of the running for a long reversal, and out of reach of an effective #2. Now consigned to luck of the draw. Fun though, and very small stake on this one.

Out -7....poorer but wiser!
$urvive, Pre$erve & RESPECT THE TEACHER
  • #6,734
  • Sep 23, 2009 7:16am Sep 23, 2009 7:16am
[qy
uote=jplo;3085480]long on this ugly fakeout.....

Let's play an agrassive #2[/quote]
hay!
the 2nd bar was the chance to exit with #2
and i mist it. out -14
now i'm short based on the fcr at 4779
it's a huge gap tony, a huge gap.
  • #6,735
  • Sep 23, 2009 7:17am Sep 23, 2009 7:17am
Now I'm free again I'm going to the gym to pay my penance.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #6,736
  • Sep 23, 2009 7:17am Sep 23, 2009 7:17am
Quoting jplo
long on this ugly fakeout.....

Let's play an agrassive #2
yep got me in by half a pip. ready to hit eject at or near b/e
  • #6,737
  • Sep 23, 2009 7:20am Sep 23, 2009 7:20am
Quoting gevellber02
[qy
uote=jplo;3085480]long on this ugly fakeout.....

Let's play an agrassive #2
hay!
the 2nd bar was the chance to exit with #2
and i mist it. out -14
now i'm short based on the fcr at 4779[/quote]

G,

Your short based on 4779 is inside a range... kind of risky but good luck to you..
Unus pro omnibus, omnes pro uno
  • #6,738
  • Sep 23, 2009 7:29am Sep 23, 2009 7:29am
guys, i am ne w to this thing. are you using trailing stop when trading the M5 ? Can you give me an EA that trails the stoop pip-by-pip please ? or any that you are using and works well 10x
  • #6,739
  • Sep 23, 2009 7:31am Sep 23, 2009 7:31am
exited long -17, maybe i havent played #2 very well
  • #6,740
  • Sep 23, 2009 7:32am Sep 23, 2009 7:32am
WEdont use trailing stops
Quoting feline207
guys, i am ne w to this thing. are you using trailing stop when trading the M5 ? Can you give me an EA that trails the stoop pip-by-pip please ? or any that you are using and works well 10x
Survive and Preserve
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