The System II (Yes with irony) | Page 345 | 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)

  • #6,881
  • Sep 24, 2009 4:47am Sep 24, 2009 4:47am
Quoting gevellber02
out -11
looks like you played this right gev.
  • #6,882
  • Sep 24, 2009 4:56am Sep 24, 2009 4:56am
Who just went long now?
where did you go long and what was your thought about going long?
(I am not long , just curious to see who went long )
Survive and Preserve
  • #6,883
  • Sep 24, 2009 4:58am Sep 24, 2009 4:58am
Quoting en0x
Who just went long now?
where did you go long and what was your thought about going long?
(I am not long , just curious to see who went long )
no i didnt take the long , too late, gev got on the first bus there, so well done to gev
Survive & Preserve
  • #6,884
  • Sep 24, 2009 5:04am Sep 24, 2009 5:04am
Quoting FOURX
looks like you played this right gev.

Good result there mate.

Thinking this through though, and not to rescue myself fromt eh pain of the loss, I think that once stuck in a relatively directionless range like that the options are 1) take the loss and get out (which you did and reversed your trade), 2) play #2, but the prices had gone way beyond BE into the red or 3) with the price stalling take the 50-50 option to stay in a perhaps have the price go your way - maybe not, as in this case. If it is a 50/50 option. Then faced with the same option again and playing it the same way the law of probabilities will even out the outcomes. However if we always get out at a loss, then we'll always wind up with the loss - and we have a probability of one (i.e. certainty).
$urvive, Pre$erve & RESPECT THE TEACHER
  • #6,885
  • Sep 24, 2009 5:07am Sep 24, 2009 5:07am
Guys,

Sometimes your stops get hit, so what? This is one of those cases.

I would have played number 2 myself, wait for price to either come back down to entry (and get out close to be) or let my stop get hit.

Big deal if your stops get hit, its the price we pay for trading


Quoting mac1956
Good result there mate.

Thinking this through though, and not to rescue myself fromt eh pain of the loss, I think that once stuck in a relatively directionless range like that the options are 1) take the loss and get out (which you did and reversed your trade), 2) play #2, but the prices had gone way beyond BE into the red or 3) with the price stalling take the 50-50 option to stay in a perhaps have the price go your way - maybe not, as in this case. If it is a 50/50 option. Then faced with the same option again and playing it the same way the...
Survive and Preserve
  • #6,886
  • Sep 24, 2009 5:09am Sep 24, 2009 5:09am
As a matter of interest, in that short trade, where did you get out?


Quoting en0x
Guys,

Sometimes your stops get hit, so what? This is one of those cases.

I would have played number 2 myself, wait for price to either come back down to entry (and get out close to be) or let my stop get hit.

Big deal if your stops get hit, its the price we pay for trading
Survive and Preserve
  • #6,887
  • Sep 24, 2009 5:10am Sep 24, 2009 5:10am
Quoting en0x
Guys,

Sometimes your stops get hit, so what? This is one of those cases.

I would have played number 2 myself, wait for price to either come back down to entry (and get out close to be) or let my stop get hit.

Big deal if your stops get hit, its the price we pay for trading

This is true old chap - too true.
Love this game!!!
$urvive, Pre$erve & RESPECT THE TEACHER
  • #6,888
  • Edited 5:12am Sep 24, 2009 5:10am | Edited 5:12am
Gev, where(price wise) did you go long and why did you go long?

OR did you just reverse as soon as you closed your short?
Quoting andrewb7
no i didnt take the long , too late, gev got on the first bus there, so well done to gev
Survive and Preserve
  • #6,889
  • Sep 24, 2009 5:19am Sep 24, 2009 5:19am
Quoting en0x
Gev, where(price wise) did you go long and why did you go long?

OR did you just reverse as soon as you closed your short?
Looks like 14754 was the fcr (+/-)
$urvive, Pre$erve & RESPECT THE TEACHER
  • #6,890
  • Sep 24, 2009 5:21am Sep 24, 2009 5:21am
Can someone draw that on a chart for me, I really dont see that as a FCR.


Maybe i got it wrong, can someone draw that as a FCR for me please.
my FCR is 4665 and another before that at 4669. Maybe my graph is wrong.


Quoting mac1956
Looks like 14754 was the fcr (+/-)
Survive and Preserve
  • #6,891
  • Sep 24, 2009 5:28am Sep 24, 2009 5:28am
Quoting en0x
As a matter of interest, in that short trade, where did you get out?
i had my my sl hit.. -30..
now eating lunch..
  • #6,892
  • Sep 24, 2009 5:31am Sep 24, 2009 5:31am
Quoting davidb
Me neither.


I have them in the same places.
Attached Image


Highlighted here. MInd you Gev might not have used that at all - I'm guessing.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #6,893
  • Sep 24, 2009 5:31am Sep 24, 2009 5:31am
Okay, it confirmed what i thought.


The one thing I have learnt about the market while trying to learn this is that, the Market is a horrible horrible teacher.
It will sometimes reward you for doing the wrong thing
and sometimes punish you for dong the right thing.

The wrong thing is not following a system and acting out of emotion
the right thing is sticking to your plan no matter what.

I still fail at that and am learning 1 day at a time, hard task but I see FX and Moneda are miles ahead in this process. I watch Paul now move into that step of doing the right thing all the time, regardless of being punished but seeing it pay off.

So remember just because the market rewards you, doesn't make what you did right .


Quoting fxachilies
i had my my sl hit.. -30..
now eating lunch..
Survive and Preserve
  • #6,894
  • Sep 24, 2009 5:32am Sep 24, 2009 5:32am
Yeah i got the FCR for the short, I meant for the long trade that Gev was in.

Quoting mac1956
Attachment

Highlighted here. MInd you Gev might not have used that at all - I'm guessing.
Survive and Preserve
  • #6,895
  • Sep 24, 2009 5:33am Sep 24, 2009 5:33am
I want to be like Paul and Jplo

Still ages away but one day at a time.


Quoting en0x
Okay, it confirmed what i thought.


The one thing I have learnt about the market while trying to learn this is that, the Market is a horrible horrible teacher.
It will sometimes reward you for doing the wrong thing
and sometimes punish you for dong the right thing.

The wrong thing is not following a system and acting out of emotion
the right thing is sticking to your plan no matter what.

I still fail at that and am learning 1 day at a time, hard task but I see FX and Moneda are miles ahead in this process. I watch Paul now move into...
Survive and Preserve
  • #6,896
  • Sep 24, 2009 5:34am Sep 24, 2009 5:34am
Quoting en0x
I want to be like Paul and Jplo

Still ages away but one day at a time.

Jplo is a cool trader-dude for sure!
$urvive, Pre$erve & RESPECT THE TEACHER
  • #6,897
  • Sep 24, 2009 5:41am Sep 24, 2009 5:41am
Anyone rate a short at 14769?
$urvive, Pre$erve & RESPECT THE TEACHER
  • #6,898
  • Sep 24, 2009 5:43am Sep 24, 2009 5:43am
i dont think we can call that an fcr yet cos it doesnt have our last little swing high
  • #6,899
  • Sep 24, 2009 5:44am Sep 24, 2009 5:44am
on my chart there is a mini fcr on 54.. and it could have been used for exit.. as G did it right there -11... but.. to me since it was a minor one and was in the middle of the bracket I did not close my short trade and I did not for sure go long on it..
I wanted to see price reaction to the HH.. I took a chance.. with no wing that I am risking of possibly have my sl hit.. and I knew i can live with it.. of course this whole mini bullish ride did not give me a solid chance to excute my #2.. oh well its a crazy marekt..

make losing part of your agenda.. no sweat..
however.. 30pip loss is alot, but I was dealing with bracket and my sl should have been above it.. thats why i play #2 fakeouts much more aggrasive then others.. but this time around it did not give me much of a chance to excute it.. it happens..
  • #6,900
  • Sep 24, 2009 5:45am Sep 24, 2009 5:45am
Could we call it a bracket?

Quoting benkm108
i dont think we can call that an fcr yet cos it doesnt have our last little swing high
Survive and Preserve
1 trader viewing now