The System II (Yes with irony)

Great result from a pretty dismal day.

Not a crystal ball user but i got a feeling today is going to be really tough too, at least until US unemployment news is out the way.

Lets see how the day pans out

I actually had a great run during the ASIA session, so overall I closed the day +- 30 pips, which to me was a great day really, given how horrible the trading was during EU and first part of US.

Hi Elizo,

Yes today was tough, I personally find it harder when there is less volatility and the market is simply slow, with badly defined moves.

About trade 2, yes you are right this was aggressive but I was intent on not being late on my entries, its the sort trade that has worked well when the market is moving more freely.

Hope that answers your question

Looking forward to tomorrow.

Hi guys,

Why I strict play #2 on fakeouts..

I don't take the quick fakeouts for granted.. I play #2 up his ass very aggresively.
but fx.. you preach runner mentality all the time!!.. i don't want to miss out on a runners!!.. ok.. fine I unerstand.. but..
hear me out now..
don't worry you won't miss toomany runners that way considering saving your ass way more times since we deal with low hit ratio.. as a matter of fact you rearly will miss a runner.. i tell you why.. If we agree on price being our one and only guide with our naked eye.. then.. there is a reason lay's behind price when it fakes you out so quickly after triggered time.. and then retraces back and again fails to break the LL/HH.. price is just simply comunicating with you that this is not the most ideal situation to be in.. it doubts the runner possibility.. and I am in the trade to catch a runner as being my job dicription..I can care less about small winners/loser or BE.. My job is to catch runners!! and play the survining game along the way.. by doing so I reduce my risk of getting rolled over by stuff happening behind the seen that i have no fucking clue about..

by sticking to my plan I am the one in control of the situation and not the otherway around..

as you keep practising this way and get a lot a experience under your belt.. then you would start to automatically create this feel and intution within to recongnize and to know when to ply'em aggresively and when sometimes not to in a more consisten way..

as you all know i stoped trading mid-way london session.. you think it was solely bcz of the gf thing?.. no my friends.. I lurked at the chart often .. today it was just too obvious in my naked eyes that price would act funny till the announcment (not a prediction.. just experince on knowing the 5m charts behaviours in such days as i have created this feel for it most times.. its a result of sticking to the basic as we keep repeating it in here.. one currency.. one timeframe)..
as you see its evident that price moved bearish for 88 pips but on a very very nasty rough ride.. I kind of knew that it is going to be rough.. but not by just acciden based on crystal ball thing.. i took two chances and watched the price reactions very closley.. it gave me enough ammunition.. I could have easily keept trading and take every one of those enteries and survive them all for sure.. its a matter of having a lil more experince and feel for market on given days than some of your guys here.. and I just choose to not go throgh the agonie, thats all.. my hats is off to you for getting invlove and you have my respect for it..
BUT..
consider yourself very lucky that you did not get chopped around bigtime.. and Thank God and attribute that to know about #1&2 thing.. thats the only thing that saved your butts.. and you stuck to the plan and on this rough ride manage to take most shots and end up not loseing at all or very little..

My concern.. and my main point..
Don't worry if you don't make money on the rough rides and rough days.. and then start second guessing and try to get smart for yourself and change things bcz you want to make money on every ride and win every day.
fuck'em.. there is always better and easier opportunites at your door step.. there is always another day and certainly many more easier rides.. bank on those days and rides.. stick to the plan and let the price to guide you.. price indicated for most of those trades during the rough ride to play #2 and get out at BE..

Be all about the price like your body fxachilies feb and Moneda .. we are tape readers!! its all about price..
we got no underground connection to inside info's and we definatly got no crystall ball.. it think you concur.. so personally..i think price and sticking to your plan is all you got in this vast of sea with sharks all around..

if you really wanna know what i do and follow me.. here it is..
I personally stay discipline as crazy as i maybe been perceived at times..
I stick to the my plan.. #1&2 is my bible.. it has cost me a lot of money to come up with this way of expectancy.. I excute it religiously atleast 90% of times.. and I am in the zone right now trading the way I do.. and I am tring to pass it to you guys.. if you get it and stick with it, I personally gurantee your success..

Don't do what i did today yet by siting out.. your in the one step out of time thing still as a midtermer..
as you see i did have only two trades today and both were displayed live.. first one was out of the first BB.. plyd #1 and banked 14 pips out of 22pips total potential..
and second one was on the second BB and close that one at BE plying #2.. market was just not giving out for the time being and gave me enough ammunition for my trader intution sake to sit out for a bit and maybe till fomc announcment..
but, for you currently is about one step out of time.. you should be very active and keep playing accordingly and practise and build up that instinct/confidence/jet eye and intution.. like you did today.. don't try to be like me or moneda or feb yet.. be patience.. with enough experince under your belt you can get to where we are as to when and where and how to pick and choose our time.. as i said i could have stayed active today and not lost at all.. so still a win win situation.. but..
you keep on pluging..

back to basic..
the fact is.. first and for most you got to survive and stay alive before you can make money in this business.. the next step is to, take full advantage of good days..
then its = to fat bottomline.. its really as simple as that.. you all can do it..
don't sweat every day win/loss.. focus on bottomline and big picutre.. that be your monthly statement ..
my last month for example was more than a highly skilled surgen makes in a year..
you want stats? fine.. they suck.. accept for one..
slightly over 1000pips for the month.. hit ratio of just under 50%.. only 12 positive days out of possible 22 trading days (54%).. But took full advantage of 90% of the given runners..
all the statistics that most people pay attenition to are the ones that i have failed miserbly .. if you got me there, oh ya i am proud to say is the hit ratio and daily win/loss.. so are we talking outside the box thinking or what!!!.. bottomline rules ..

your on the right path as what i have seen from most of you guys in the past week or so.. do what you are doing, only to stay humble and trust and keep on learning more and stick with it.. and sharpen up your skill day in day out..
and you'll endup beeing sucessful in this business..

just a humble observer today as to put my 2cents in from what i witnessed in the forum and pm's i got..

another long ass post.. sorry

Good Luck.. i see you tomorrow..

Thanks FX, awesome post. Another one to add to the book of good posts.

Time to play today as per usual

Fx,

Great post! You are an excellent motivator and a positive force for all of us.... Believe me when I tell you that Feb and you have taken my trading skills to another level... I still have a long way to go but I am confident that thanks to you guys and others here I am on my way to being a professional trader... all I need now is to have the capitalization to trade lots instead of minis.

Agreed, thanks for the awesome posts and insights you give us all Fx... i have only been hanging around a short while, but i have never seen the sort of support you and others give anywhere else. you and feb and mon make it so easy to pick up and move on from a small loss, which is the toughest emotion for me to overcome, thankyou.

Hey Fx,

Thanks brother, you really tell the story as it is supposed to be told.

Let`s use yesterday as a day to remember that type of price action and recognize next time it occurs.

Long 1.4731

Good morning to all,

Fx, as usual, great essay about #2. And great session.

Coming back to today, I am long now here at 31.5.

Morning all - me too.

Great post Fx --0 deeeeep structure!

[quohay te=PaulLangham;3088303]Long 1.4731[/quote]
hay, good morning
i took it at 4730 and out BE
now maybe short at 4722?

# 2'd it a bit early - out BE.

Still on the trade... it's a pity I have to get out for some meetings. But my R/R is great now: hard SL moved to -3... TP at 21. Market is bleeding this one, but still making HH.

So unfortunately for me, this is my outcome. I would love to look after this little baby.

Edit: SL a BE, TP a 68, under the so tricky 70 yesterday...

I am still in. Looking good now but my nerves are frayed

AAAAAARG! So resisting my urge to chase this having got out too early!!!

did you ever doubt it , just kidding, yeah same here. Still long still seeing what will happen here. London is about to open, be good for a bit of a push skywards.

Enjoy your meeting mate

we will watch it for you ; )

Now resisting the mASSIVE urge to close out for 21

I am not doing ti, will hold now and watch and play number 1 stil.l.