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The System II (Yes with irony)

  • #7,001
  • Sep 24, 2009 11:08am Sep 24, 2009 11:08am
Quoting elizo
Sure, no continuation at all, and it makes sense that taking the reversal would have a higher probability of success based on profittaking... taking any continuation now is suicidal!!!

It's bittersweet here: I didn't play well because of lack of experience. Never been in such a runner so easy. But it's sweeter than bitter. Full of confidence and believing in myself.

I'll say this really whispering, because you never know what's going on tomorrow: +83 on the day... omg!!!


and I whisper back.. great job and many many more to come..
  • #7,002
  • Sep 24, 2009 11:12am Sep 24, 2009 11:12am
From now onwards, my deals for the day, if they help someone:

1.- Long at 31 before London open... kept it really well, had to get out for meetings. Set a hard TP at 68, arrived 67.2 and came back... after watching the whole stuff and some hesitation, I banked at 64 for +33.

2.- Short at 68, some hesitation. Playing #2 after no rythm, speed and an ugly reversal. Out at BE.

3.- The big one. Simply not used to this rollercoaster. Jumped out at +50. Poorly played but good lesson (although pretty expensive, I still would have to be in the deal).
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  • #7,003
  • Sep 24, 2009 11:12am Sep 24, 2009 11:12am
Quoting fxachilies
i gotta say.. congrats to Jplo here.. well done +74 vamonosssssssss..
Thanks Boss...

I'm done for today...

As usual, it was my pleasure to trade with all of you live...

Coming for many more learning experiences tomorrow.....

Bye
  • #7,004
  • Edited 11:56am Sep 24, 2009 11:36am | Edited 11:56am
Quoting yuyudada
Hi, jplo
I notice you only trade one time today, amazing trade!
but I also noticed there would have been 4 trades chance using this SYSTEM 2. i know you lost the first one, Why you didn't trade before this short??
Hi Yuyudada,

As you said, I missed the very first one, in other case I would have taken it without hesitation, and also the second one....

From that point on, all the next opportunitties to the upside would be continuation signs, and I did not wanna be involved on them as far as price never stalled into range for any time, admitting It was late for me to joying that nice bullish run, and that I had a lot of posibilities to fall into a fake if take any of those signs......

Hope it helps....
  • #7,005
  • Sep 24, 2009 11:57am Sep 24, 2009 11:57am
Hello there,

Guys I have to come to terms with my trading schedule....I live in EST and the London Open is at 3am which means that I have to get up an hour and a half before that in order to be ready for a action... I have been trying it for the last week or so and frankly at my ripe old age of 57 with a small business to attend, a wife, two cats and a house to upkeep is just too much for me... I wish I lived in a more London trading time friendly timezone but it is what it is. One needs a fresh and rested mind to go to battle. So, I am going to go back to trading the first four hours of NY and sometimes the beginning of Asia... It pisses me off to not trade London open bcz imo, it is the best time to trade. Just thought I mentioned it to my trading family.....

Keep up your progress.

Peace,
Unus pro omnibus, omnes pro uno
  • #7,006
  • Sep 24, 2009 11:57am Sep 24, 2009 11:57am
ok.. as you see in my chart it shows you how price is jaming up and bracket is getting smaller.. the more it jams up the better and much stronger signal specially the countinuation.. and better RR for us when we enter on a smaller bracket in the case of false BB..
Just a lil something to keep in mind.. but super powerfull.. it don't always looks so clean.. but you should get the idea..


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  • #7,007
  • Sep 24, 2009 12:12pm Sep 24, 2009 12:12pm
hay
this are my trades today,
I'll by glad to read your comments
i know i did mistake by exiting the 1st trad
but i think my real problem is when to exit when i'm in profit
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it's a huge gap tony, a huge gap.
  • #7,008
  • Sep 24, 2009 12:17pm Sep 24, 2009 12:17pm
Quoting moneda
Hello there,

Guys I have to come to terms with my trading schedule....I live in EST and the London Open is at 3am which means that I have to get up an hour and a half before that in order to be ready for a action... I have been trying it for the last week or so and frankly at my ripe old age of 57 with a small business to attend, a wife, two cats and a house to upkeep is just too much for me... I wish I lived in a more London trading time friendly timezone but it is what it is. One needs a fresh and rested mind to go to battle. So, I am going...
57.. I imagined your more around my age, I be turning 36 in 17 days..
now about the time zone..
Moneda, I got the same problem when I am in the states.. I live 6 months out of the year in u.s and rest in my homeland.. but its a bitch when I am in calif/LA.. if it wasn't for my love for california as my second home.. i would have rather settle down somewhere in europe, like Spain or UK.. but I am just too american now and affraid to not be able to cope to well..
so, I can understand what your talking about..
neverless it will decress your odds of success and its frustrating.. it does for me everytime when i am there.. sorry for being so blunt but it's a fact..

anyways.. family is the most important thing..
lets hope for the best.. and i will miss you presence during londi..

Good Luck.
  • #7,009
  • Sep 24, 2009 12:34pm Sep 24, 2009 12:34pm
Quoting fxachilies
57.. I imagined your more around my age, I be turning 36 in 17 days..
now about the time zone..
Moneda, I got the same problem when I am in the states.. I live 6 months out of the year in u.s and rest in my homeland.. but its a bitch when I am in calif/LA.. if it wasn't for my love for california as my second home.. i would have rather settle down somewhere in europe, like Spain or UK.. but I am just too american now and affraid to not be able to cope to well.....
Fx,

Man, I thought you were going to tell me that everything is going to be fine ! Listen my friend...I am a big boy and a young 57 so when circumstances give you lemons guess what?... you make lemonade!

See you guys around 7am est.
Unus pro omnibus, omnes pro uno
  • #7,010
  • Sep 24, 2009 12:36pm Sep 24, 2009 12:36pm
FX
In your chart I see only a Buy stop order .
So you are not looking for a Short even after a few hours of consolidation ?
The pattern you drew does not have more chances to resolve in a bearish way ?
Tks
David
Quoting fxachilies
ok.. as you see in my chart it shows you how price is jaming up and bracket is getting smaller.. the more it jams up the better and much stronger signal specially the countinuation.. and better RR for us when we enter on a smaller bracket in the case of false BB..
Just a lil something to keep in mind.. but super powerfull.. it don't always looks so clean.. but you should get the idea..


http://cdn.forexfactory.com/images/attach/gif.gif
  • #7,011
  • Sep 24, 2009 12:41pm Sep 24, 2009 12:41pm
Quoting gevellber02
hay
this are my trades today,
I'll by glad to read your comments
i know i did mistake by exiting the 1st trad
but i think my real problem is when to exit when i'm in profit
G,
first improment that i see right of the bat is that your trading less and not jumping the gun on the enteries when setup is not fully matured yet..

but exit is your problem.. looks to me your antsy.. and trading on your toes a lil toomuch.. your 1st trade should have been run until reall threat arrives as result your trad 2 is unnecessary..
so a lil patience will do the job now.. don't trade scared.. if your load is more that you can handel drop it to your comfort level..
today i started with -30 as you all witnessed but i ended the day with +42.. even if that runner would not have happend i would have finished with only -8.. Bottomline rules..
read my long post from earlier today if you haven't alread..
better job overall..
  • #7,012
  • Sep 24, 2009 12:48pm Sep 24, 2009 12:48pm
Quoting david4u
FX
In your chart I see only a Buy stop order .
So you are not looking for a Short even after a few hours of consolidation ?
The pattern you drew does not have more chances to resolve in a bearish way ?
Tks
David
yes I decied to not take a shot at short no matter what.. for the same reasons that i explained earlier to Elizo..
I am done trading for the day anyways, I am drained.
  • #7,013
  • Sep 24, 2009 12:53pm Sep 24, 2009 12:53pm
Quoting moneda
Fx,

Man, I thought you were going to tell me that everything is going to be fine ! Listen my friend...I am a big boy and a young 57 so when circumstances give you lemons guess what?... you make lemonade!

See you guys around 7am est.
man, I just learned another thing from you today.. no doubt you be successful and make lots of lemonads and thats my wish for you..

cya tomorrow..
  • #7,014
  • Sep 24, 2009 1:39pm Sep 24, 2009 1:39pm
Hullo everyone,

first post on this excellent thread, but hopefully not the last...the spirit running through the core of the thread is inspiring. Fx, I have a question. Moneda posted earlier asking a question about mini fcr etc, which kind of got lost in amongst your ISP problem, feline posting and the large drop in price through the rest of the afternoon. This is the link.

http://www.forexfactory.com/showpost...postcount=6959

I do not quite understand the question, , but it relates to the entry you and jplo made off the mini fcr around 4786, and also the mini fcr earlier in the day around 4754. I guess the bottom line of the question is when do you take notice of a mini fcr, what is a mini fcr, and what made you act on the later one, but not the earlier one?
  • #7,015
  • Sep 24, 2009 2:15pm Sep 24, 2009 2:15pm
Quoting elizo
Sure, no continuation at all, and it makes sense that taking the reversal would have a higher probability of success based on profittaking... taking any continuation now is suicidal!!!

It's bittersweet here: I didn't play well because of lack of experience. Never been in such a runner so easy. But it's sweeter than bitter. Full of confidence and believing in myself.

I'll say this really whispering, because you never know what's going on tomorrow: +83 on the day... omg!!!
Hey Elizo,

Cool trading man, u r on your way. Excellent work
Survive and Preserve
  • #7,016
  • Sep 24, 2009 2:23pm Sep 24, 2009 2:23pm
Quoting moneda
Hello there,

Guys I have to come to terms with my trading schedule....I live in EST and the London Open is at 3am which means that I have to get up an hour and a half before that in order to be ready for a action... I have been trying it for the last week or so and frankly at my ripe old age of 57 with a small business to attend, a wife, two cats and a house to upkeep is just too much for me... I wish I lived in a more London trading time friendly timezone but it is what it is. One needs a fresh and rested mind to go to battle. So, I am going...
Hey Mondea,

Thanks for your update. I want to say thanks to you for your contributions, certainly you have been helping me thats for sure.

About that lemonade maye I can add this, when you get that lemonade factory built and its making a nice profit, (you know aht I mean by this)simply go global my friend , set up base like FX, switch about a bit, the world is small and there are some beautiful places in all time zones which you can vist and some great places in the right time zones which you can trade from. So go for it. We will be here watching your progress and here waiting for your contributions .
Survive and Preserve
  • #7,017
  • Sep 24, 2009 2:57pm Sep 24, 2009 2:57pm
Hi All,

Today my trades were a compilation of errors: missed FCRs, missed 123s, wrong closes playing #2, wrong closes playing #1, manual entries, entries using not full developed FCRs, missed long runner, etc. Anyway the bottom line was +14.1 pips.

Tomorrow I will be more focused (I hope).


Regards.

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  • #7,018
  • Sep 24, 2009 3:23pm Sep 24, 2009 3:23pm
Hi All,

Here are my trades for today.

Trade 1 - I played this one OK according to plan coming out on the FCR which had formed. +15

Trade 2 -10 on this one, was looking for an exit point and used a minor FCR which I then reverseed into for the long trade 3.

Trade 3 - Long +15 Exited on the break of the minor FCR

Trade 4 - Exit at BE. Price simply did not get off the ground and came back at me fast so I closed out.


Trade 5 - BE. I took this trade at 1.4790 and took it realizing that we could be at the end of the move even though we been in a consolidation period. Was to ready to bail and di dso at BE, giving price not second chances.

Trade 6 + OK +110 pips. Firstly it isnt me that did the work on this trade guys it was FX. How is that ? Well its due to his pushing me towards going for runners. And see how this delivered for me guys.

Let me explain a little about my logic on this trade.

Firstly the orange line and mark A is where some of the other guys - well done JPLO - took the short, I think fx did as well. At the time I was kicking myself for being late but waited or the next bus nevertheless.

Now when this baby came along and I saw it start running, there was one thing I wasn`t going to do and that was cut it short. I would rather give it all back.

I have been playing this style purposefully as per FX`s posts, o if1s no but`s Let me say one thing - see trade 1 and 3 well there, to some people I have left pips on the table and I have even worked for people who would have laid my balls on a chopping block and taken out a long bladed affairr and threatened to do the unthinkable for leaving these pips, but understand this about those pips - here we play a different game. And here is the punchline guys.........The pips I left there are the insurance policy, the premiums you pay in order to buy the runner. Fx said this in a different way the other day - read that post again as this is mega important. If you get ths message you get the whole game and objective of this thread. If i put it another way maybe it will also help, "If you want to paint the house - first you gotta buy the brush " right ? Think about it, it`s logic. No point snatching at the first 10 pis which come your way.

So knowing there was no way i was going to let this baby slip away I waited for a significant HL or HH to come in just like brother FX says Well guess what they were selling this thing hard and it didn`t come right until price was way away from my entry. This gave me breathing space.

Now point B, we very nearly had a break of the previous high but I wanted to give it space - stop was away from the heat - on the off chance it would run again and guess what it did.

Now point C - mauve is where according to the rules I normally should have come out, but I gave it just one more HH as confirmation of something else - range/consolidation and that was that. Job done

Ok so thank you to Fx for all the ranting, raving and beatings up. if you can learn from that guys then you r on the road to the bank - go form a queue in front of the teller.

So Fx thanks to you my friend, you is da man.

I hope this helps newcomers, exeprienced or whoever.
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Survive and Preserve
  • #7,019
  • Sep 24, 2009 3:27pm Sep 24, 2009 3:27pm
Quoting Trader222
Hi All,

Today my trades were a compilation of errors: missed FCRs, missed 123s, wrong closes playing #2, wrong closes playing #1, manual entries, entries using not full developed FCRs, missed long runner, etc. Anyway the bottom line was +14.1 pips.

Tomorrow I will be more focused (I hope).


Regards.

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Hi Trader222,

First up good effort posting your trads that way people can help.

What I see is that you seem to be quite late on some entries. Maybe you were not trading at that time.

Having said that some good control on the BE or nearly BE.

It would be easier for me if you posted the exact entry and exit price, then I could add more for you.

Hope this bit helps anyway
Survive and Preserve
  • #7,020
  • Sep 24, 2009 3:38pm Sep 24, 2009 3:38pm
4 trades .
Must work to improve my exits .
+49.5 pips ....which is very good for me .
On trade 3 , the runner , I have taken profits along the trade .
FX , can you say a word about that ? (partial closing)
I know it's not your way to trade ...
Regards & tks
david4u
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