The System II (Yes with irony) | Page 339 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

We all need pivots to win..yes or not? 13 replies

The System (Irony included) 1,175 replies

Attachments: The System II (Yes with irony)
Exit Attachments

The System II (Yes with irony)

  • #6,761
  • Sep 23, 2009 8:22am Sep 23, 2009 8:22am
I am soo tired I am falling asleep here.
Comon NYC, make a move please. I need some sleep damnit
Survive and Preserve
  • #6,762
  • Sep 23, 2009 8:24am Sep 23, 2009 8:24am
Quoting moneda
jplo,

What speech r u talking about...if it is the Feds(US) that is not until 2:15pm est (Statement and Fund Rate)
It is:
"Treasury Sec Geithner Speaks" in 10 min...

Sorry if this is not an important one.... I do have a real issue about discerning the important news from the unimportant ones....

Could you give me some advise about this?

Thanks in advance Mon
  • #6,763
  • Sep 23, 2009 8:27am Sep 23, 2009 8:27am
Quoting en0x
Page 427 post 6398
REad all those links in that post (and the links that the links are pointing to)
thanks en0x i will read those things
  • #6,764
  • Sep 23, 2009 8:30am Sep 23, 2009 8:30am
Quoting jplo
It is:
"Treasury Sec Geithner Speaks" in 10 min...

Sorry if this is not an important one.... I do have a real issue about discerning the important news from the unimportant ones....

Could you give me some advise about this?

Thanks in advance Mon
jplo,

There is no 100% assurance but interest rate announcement, NonFarm and speeches by the money czar like the guy for the euro. One thing you can do is filter in the calendar only the red ones...but I would not bet my farm (just an expression) on those either. If you have Oanda...check the spread a minute or so before news..you will see it go up 10pips.
Unus pro omnibus, omnes pro uno
  • #6,765
  • Sep 23, 2009 8:35am Sep 23, 2009 8:35am
Okay Guys,

Trading can be boring even for us cowboys here! So here is more entertainment.

Races

Soros and a Bernanke went to the races. Soros suggested to bet $10,000 on a horse. Bernanke was sceptical, saying that he wanted first to understand the rules, to look on horses, etc. Soros whispered that he knew a secret algorithm for the success, but he could not convince Bernanke.
Soros: You are too theoretical, he said and bet on a horse. Surely, that horse came first bringing him a lot of money. Triumphantly, he exclaimed: I told you, I knew the secret!
Bernanke: What is your secret?
Soros: It is rather easy. I have two kids, three and five year old. I sum up their ages and I bet on number nine.
Bernanke: But, three and five is eight,
Soros: I told you, you are too theoretical! Soros replied, Haven't I just shown experimentally that my calculation is correct?!
Unus pro omnibus, omnes pro uno
  • #6,766
  • Sep 23, 2009 8:43am Sep 23, 2009 8:43am
Quoting moneda
jplo,

There is no 100% assurance but interest rate announcement, NonFarm and speeches by the money czar like the guy for the euro. One thing you can do is filter in the calendar only the red ones...but I would not bet my farm (just an expression) on those either. If you have Oanda...check the spread a minute or so before news..you will see it go up 10pips.
Thank you very much, buddy...

Following your and Fx's advices....

I think that what I'm gonna do is simply pay attention to really really big ones (red flags), "closing the shop" since a few minutes before it untill the dust settled down again and price showed its real color after the anouncement........

In case it is another anouncement, I'm not gonna consider it concerning to take a trade or not,....... if the trade is there, I'm gonna take it, as usual... If I'm already in, I'll babysit it much more closed if PA shows some major movement from that news, but no more concerns about that....
  • #6,767
  • Sep 23, 2009 8:44am Sep 23, 2009 8:44am
If nothing is triggered in 15 mins then I am calling it a night. Seems like the market might be waiting for that news and FOMC
Survive and Preserve
  • #6,768
  • Sep 23, 2009 8:47am Sep 23, 2009 8:47am
Quoting Musanto
Guys, give me ur opinion please,
I've been 2 days did my trade using martingale,
I doubling my trade size when I lost,
using this number
1,2,4,8,16,32,64 fold
Musanto, personally I would never, ever play the Martingale. It’s OK if you have really deep pockets stuffed full of cash and can afford a losing run. For us lesser mortals it’s seriously risky.

Consider an example, you say you exit a loser on 5-14 pips, lets take an average of 10 pips per loss and for the sake of argument you start at $1 per pip (makes the maths easy).

Your first loser costs you $10, so you double up and the next loser costs $20 then $40 and so on. By the time you have reached your 64 limit you have lost a total of $1,270.

Contrast that with keeping a constant size of $1 per pip. The same losing run would leave you out only $70. To get that back is only a couple of good solid trades of 35 pips each.

I know which is my preference.
Too tired to argue. Too old to care.
  • #6,769
  • Sep 23, 2009 8:53am Sep 23, 2009 8:53am
Quoting feline207
thanks en0x i will read those things

You'll be glad you did!
$urvive, Pre$erve & RESPECT THE TEACHER
  • #6,770
  • Sep 23, 2009 8:56am Sep 23, 2009 8:56am
[quote=davidb;3085936]Musanto, personally I would never, ever play the Martingale. It’s OK if you have really deep pockets stuffed full of cash and can afford a losing run. For us lesser mortals it’s seriously risky.

Consider an example, you say you exit a loser on 5-14 pips, lets take an average of 10 pips per loss and for the sake of argument you start at $1 per pip (makes the maths easy).

Your first loser costs you $10, so you double up and the next loser costs $20 then $40 and so on. By the time you have reached your 64 limit you have lost a total of $1,270.

Contrast that with keeping a constant size of $1 per pip. The same losing run would leave you out only $70. To get that back is only a couple of good solid trades of 35 pips each.

I know which is my preference.[/quote

It's a great way to play odds versus evens or red versus black in roulette though - but I digress. Small but consistent gains. I beleive it will get you thrown out of casinos.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #6,771
  • Sep 23, 2009 8:57am Sep 23, 2009 8:57am
WEll it moved and got me in my short, now I must stay up for longer

Quoting en0x
If nothing is triggered in 15 mins then I am calling it a night. Seems like the market might be waiting for that news and FOMC
Survive and Preserve
  • #6,772
  • Sep 23, 2009 8:57am Sep 23, 2009 8:57am
short out of the bracket at 4764
Attached Image (click to enlarge)
Click to Enlarge Name: 16.gif Size: 13 KB
it's a huge gap tony, a huge gap.
  • #6,773
  • Sep 23, 2009 8:58am Sep 23, 2009 8:58am
Let's see this short......
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.JPG Size: 100 KB
  • #6,774
  • Sep 23, 2009 9:01am Sep 23, 2009 9:01am
Quoting en0x
WEll it moved and got me in my short, now I must stay up for longer

With you on this one
Survive and Preserve
  • #6,775
  • Sep 23, 2009 9:03am Sep 23, 2009 9:03am
Quoting PaulLangham
With you on this one
yet another #2?
  • #6,776
  • Sep 23, 2009 9:05am Sep 23, 2009 9:05am
Quoting jplo
Let's see this short......
let's play #2
it's a huge gap tony, a huge gap.
  • #6,777
  • Sep 23, 2009 9:10am Sep 23, 2009 9:10am
Quoting davidb
..Your first loser costs you $10, so you double up and the next loser costs $20 then $40 and so on. By the time you have reached your 64 limit you have lost a total of $1,270.

Contrast that with keeping a constant size of $1 per pip. The same losing run would leave you out only $70. To get that back is only a couple of good solid trades of 35 pips each.

I know which is my preference.
yup, u right
  • #6,778
  • Sep 23, 2009 9:10am Sep 23, 2009 9:10am
Quoting benkm108
yet another #2?
Closed BE
Survive and Preserve
  • #6,779
  • Sep 23, 2009 9:16am Sep 23, 2009 9:16am
Hello,

My trading friends...Let us remember that this is a great opportunity to work on ours skills... our pair has covered less than 100 pips since the open of London yesterday.... stay focus, exercise patience and try not to guess what is coming... a chimpazee can make $$ when a new trend starts... take care of your loses and you will be ahead of the game in the long run.

Good luck
Unus pro omnibus, omnes pro uno
  • #6,780
  • Sep 23, 2009 9:18am Sep 23, 2009 9:18am
Quoting PaulLangham
Closed BE
Good exit Paul..
14 traders viewing now