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

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The System II (Yes with irony)

  • #6,861
  • Sep 24, 2009 3:11am Sep 24, 2009 3:11am
Quoting benkm108
mac, i think you need to see a type of mini swing high, then low and then another little swing high (it might be higher, even with or lower than your first swing high(2 of your 1,2,3)) before you can establish to go short on an fcr. what we had here was just different colored candles, but no structure, hope that makes sense.

It does make sensen benkm - thanks. I got out of gaol +1 from that little fuckup (news around at the moment too).
I'm dyslexic (don't know if anyone else on the thread is)- an example of the problem is that I have trouble reading maps when I'm driving South - just can't seem to mesh the mental cogs. This is the same syndrome. I started inverting my charts last week to check the short side and it helps me - I just didn't bother this morning.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #6,862
  • Sep 24, 2009 3:19am Sep 24, 2009 3:19am
Quoting mac1956
It does make sensen benkm - thanks. I got out of gaol +1 from that little fuckup (news around at the moment too).
I'm dyslexic (don't know if anyone else on the thread is)- an example of the problem is that I have trouble reading maps when I'm driving South - just can't seem to mesh the mental cogs. This is the same syndrome. I started inverting my charts last week to check the short side and it helps me - I just didn't bother this morning.
its ok Mac.. I and your systme II family got your back... figure a way out of it.. there are a lot successfull people that i know personally and have the same thing..
don't let it to occupie your mind..
  • #6,863
  • Sep 24, 2009 3:24am Sep 24, 2009 3:24am
Quoting fxachilies
its ok Mac.. I and your systme II family got your back... figure a way out of it.. there are a lot successfull people that i know personally and have the same thing..
don't let it to occupie your mind..

Feeeeelin' the lerve Bro'
$urvive, Pre$erve & RESPECT THE TEACHER
  • #6,864
  • Sep 24, 2009 3:24am Sep 24, 2009 3:24am
I am short.. hurdel is in hand as usuall.. its a given.. what i do simply zipping on my coffee with my legs crossed over on my desk.. I let things develop fully.. playing #2.. won't get decieved too early.. wont let the market to fuck with me.. i want to see his true intention.. i stick to my plan.. if it hits my sl.. so be it.. next one..

http://cdn.forexfactory.com/images/attach/gif.gif
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  • #6,865
  • Sep 24, 2009 3:25am Sep 24, 2009 3:25am
play #2.....again
it's a huge gap tony, a huge gap.
  • #6,866
  • Sep 24, 2009 3:41am Sep 24, 2009 3:41am
Quoting gevellber02
play #2.....again
out -11
it's a huge gap tony, a huge gap.
  • #6,867
  • Sep 24, 2009 3:44am Sep 24, 2009 3:44am
ok to quickly analyse our situation on this short trade..

we entered short.. we got a fakeout.. we got a LL on the bottom.. we got a minor fcr in the middel of this small bracket.. and we got price stalling in the range of our 10-15 pips loss..

Question:
what would you do?
  • #6,868
  • Sep 24, 2009 3:48am Sep 24, 2009 3:48am
Quoting gevellber02
out -11
this exit regardless of the out come is flat out tradign scared..
  • #6,869
  • Sep 24, 2009 3:48am Sep 24, 2009 3:48am
Quoting fxachilies
ok to quickly analyse our situation on this short trade..

we entered short.. we got a fakeout.. we got a LL on the bottom.. we got a minor fcr in the middel of this small bracket.. and we got price stalling in the range of our 10-15 pips loss..

Question:
what would you do?
i can tell you what i did, i moved my SL above the FCR in 4754.
it's a huge gap tony, a huge gap.
  • #6,870
  • Sep 24, 2009 3:48am Sep 24, 2009 3:48am
Quoting fxachilies
ok to quickly analyse our situation on this short trade..

we entered short.. we got a fakeout.. we got a LL on the bottom.. we got a minor fcr in the middel of this small bracket.. and we got price stalling in the range of our 10-15 pips loss..

Question:
what would you do?

Wait for a move back to BE or close and get out unless the move in your direction is robust, in which case assess its behaviour at the LL. Otherwise ride this out and be prepared for price to hit SL.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #6,871
  • Sep 24, 2009 3:52am Sep 24, 2009 3:52am
Quoting mac1956
Wait for a move back to BE or close and get out unless the move in your direction is robust, in which case assess its behaviour at the LL. Otherwise ride this out and be prepared for price to hit SL.

...and SL is at two pips above that double top at 14765. That's where I am with it at the moment...
$urvive, Pre$erve & RESPECT THE TEACHER
  • #6,872
  • Sep 24, 2009 3:55am Sep 24, 2009 3:55am
Quoting fxachilies
this exit regardless of the out come is flat out tradign scared..
well..... i though i spoted an fcr. i gues i was just scared
it's a huge gap tony, a huge gap.
  • #6,873
  • Sep 24, 2009 4:01am Sep 24, 2009 4:01am
Quoting mac1956
...and SL is at two pips above that double top at 14765. That's where I am with it at the moment...
no Mac... I prefer to set my SL above the HH with 3pips + spread.. 4773
  • #6,874
  • Sep 24, 2009 4:05am Sep 24, 2009 4:05am
Quoting fxachilies
no Mac... I prefer to set my SL above the HH with 3pips + spread.. 4773

OK chief - my chart shows a HH of a nadge under 14769 on the London opening candle. This the one that you mean as the HH?
$urvive, Pre$erve & RESPECT THE TEACHER
  • #6,875
  • Sep 24, 2009 4:24am Sep 24, 2009 4:24am
Quoting fxachilies
no Mac... I prefer to set my SL above the HH with 3pips + spread.. 4773

Ah well...back to stalking that runner...
$urvive, Pre$erve & RESPECT THE TEACHER
  • #6,876
  • Sep 24, 2009 4:27am Sep 24, 2009 4:27am
SL to BE .
too early?
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it's a huge gap tony, a huge gap.
  • #6,877
  • Sep 24, 2009 4:30am Sep 24, 2009 4:30am
Quoting elizo
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...
Well... my TP was not touched on the first swing, came back and saw the price with hesitation below that... I finally exited at 64. No rythm, no speed when approaching the previous highs... Fact is that now has broken and has done new HH, but my expectancy was low at that point, and of course did not entered in the continuation...

This new swing could be taken as a 123. Fair enough. I banked those +33. Not happy because of the outcome, but again, because of the process of rationalization.

Hope this helps someone around. If any criticisms, please go ahead.
  • #6,878
  • Sep 24, 2009 4:32am Sep 24, 2009 4:32am
Quoting gevellber02
SL to BE .
too early?
No, that looks good to me. Probably you went long on a weak FCR, but now you are in, let it run on a free trade.
  • #6,879
  • Sep 24, 2009 4:39am Sep 24, 2009 4:39am
hey gev, me personally i would wait for the pullback that just happened then put s/l below new fcr formed, u just dont wont to put s/l near the heat, just my view mate, fx may correct me
cheers andrew
Survive & Preserve
  • #6,880
  • Sep 24, 2009 4:39am Sep 24, 2009 4:39am
Looks like I didnt miss much, had to go shopping with the wife (apparently I spend too much on charts and ignore her )
Survive and Preserve
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