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The System II (Yes with irony)

  • #7,041
  • Sep 24, 2009 5:48pm Sep 24, 2009 5:48pm
Quoting david4u
I have a q regarding this trade .
Entry @ 1.4731
How to manage the trade ?
1. "normal" exit at the red dotted line after fcr did not hold .
2. as Moneda suggested (I think) @ point 2 , one bar after we saw that point B failed to break the HH of point A.
3. I don't know if we have the option according to FX rules to say :
"Although we are supposed to exit @ the red dotted line (1) , as we have made an early and good entry ,and still are in the green territory even @ point #3 ,
we can stay in the trade and move our SL to BE , expecting to catch...
david,
don't over anaylise toomuch.. don't worship anything on your chart and don't have any set on stone rules.. this method that we practise here is very felixible.. we got the tools for you and its up to you to make it work for yourself..
we got #1&2 (expectancy).. fcr.. 123.. BB.. these are your tools to get in and get out..
what you displayed in your chart.. the right play is to get out by playing #1 and get out in the middle of bracket for some +pips.. and play the IF and Then and take the fcr for the short.. that short fcr could have easily been a runner .. right? you never know.. and the next play was to go long on the BB later on top..
but whats happening to you is being decived, by watching everything in the hindsight 10hours later.. and think that you could have a had a 60 pips runner!!! and all of the sudden wanna change things around.. and if you have read my my long post yesterday you see the red part was exactly about this as it was my concern for everybody based on what happened yesterday..
so to reacap..
don't over analyse.. don't second guess.. but rather trust and stick to the plan and you'll be the next Paul L +110.. Jplo +74.. and maybe me +62..

Good Luck..
  • #7,042
  • Sep 24, 2009 5:55pm Sep 24, 2009 5:55pm
Quoting en0x
Remember the prior 4 thursday I said I hate Thursdays... they kill me in the market.
yesterday I broke that, okay okay, I didnt get that runner or make anything about BE but hey, I didnt lose Woohoo, my psych fear of Thursdays are gone. Gonna rope me a Thursday next week

Yeah, lets see how Asia goes, and tonight is Friday, so I get to trade all the night (I am 30, others are at the pub, and I am trading. and I prefer to be at home trading then at the pub )
the thursday thing was never there.. it was all in your head.. i told you then and i am repeating it again.. confidence in you ability will overcome everything...
fuck the pub.. make money for yourself and your family then take your beautiful wife out for shopping and take vacations.. thats what its all about..
Glad to see you on the right track... I was extermly impress by your actions today.. well done..
  • #7,043
  • Sep 24, 2009 5:58pm Sep 24, 2009 5:58pm
Asia has been kind to us EUR traders this week but this is unusual as it normally doesnt move in Asia so be warned.

Hope the cold gets better , its a lovely day here in Sydney today isnt it?
Quoting Paul M
Hi Enox

I went to bed and missed the whole thing too, I was dead tired got a bit of cold too. Maybe we can do something with this asian session
Survive and Preserve
  • #7,044
  • Sep 24, 2009 6:01pm Sep 24, 2009 6:01pm
Good night guys.. believe it or not I am going to bed..
great job everyone..

CYA in 6 hours..
  • #7,045
  • Sep 24, 2009 6:04pm Sep 24, 2009 6:04pm
Quoting en0x
Asia has been kind to us EUR traders this week but this is unusual as it normally doesnt move in Asia so be warned.

Hope the cold gets better , its a lovely day here in Sydney today isnt it?
Ok I will stay alert but not alarmed. Yes it is a fine day indeed, spring is shaping up.
"Save your ass, then go for profit"
  • #7,046
  • Sep 24, 2009 8:14pm Sep 24, 2009 8:14pm
I have been short since the break of 1.4650 , Its at +22 now during asia but I am not closing the trade , just managing it with FCR and breaks of LL. Using this time to learn still. Trying to learn to hold off closing trades off to early.

Quoting Paul M
Ok I will stay alert but not alarmed. Yes it is a fine day indeed, spring is shaping up.
Survive and Preserve
  • #7,047
  • Sep 24, 2009 8:22pm Sep 24, 2009 8:22pm
Quoting en0x
I have been short since the break of 1.4650 , Its at +22 now during asia but I am not closing the trade , just managing it with FCR and breaks of LL. Using this time to learn still. Trying to learn to hold off closing trades off to early.
I was as well but that big reversal took out my stop. My fault I should have had the stop above the bracket HH rather than FCR at 1.4462.

I am back in again now on 123 at 1.4362

I am trying to hold off closing as well. I wasn't much fun when it reversed like that.
"Save your ass, then go for profit"
  • #7,048
  • Sep 24, 2009 8:25pm Sep 24, 2009 8:25pm
That big reversal was huge. I closed out my position btw for +23 as it didnt doa good job at convincing me that LL was broken.


Quoting Paul M
I was as well but that big reversal took out my stop. My fault I should have had the stop above the bracket HH rather than FCR at 1.4462.

I am back in again now on 123 at 1.4362

I am trying to hold off closing as well. I wasn't much fun when it reversed like that.
Survive and Preserve
  • #7,049
  • Sep 24, 2009 8:27pm Sep 24, 2009 8:27pm
Btw, I had taken that trade as well there and I closed for -12. That was purely my fault as where it reversed I was watching very closely with finger on trigger, except I got distracted (god forbid , someone asked me to do urgently assist them at work) and didnt get to see it until the candle hit..

That is the dangers of trading at work I guess

but anyways, closed out +made some

Quoting Paul M
I was as well but that big reversal took out my stop. My fault I should have had the stop above the bracket HH rather than FCR at 1.4462.

I am back in again now on 123 at 1.4362

I am trying to hold off closing as well. I wasn't much fun when it reversed like that.
Survive and Preserve
  • #7,050
  • Sep 24, 2009 8:33pm Sep 24, 2009 8:33pm
I need to figure out how to post Oanda charts. Anybody got any ideas how to write on them and stuff?

Like any tools (on XP) that I can use to screen capture and write on? Please dont say paint, that is just too hard to use.
Survive and Preserve
  • #7,051
  • Sep 24, 2009 9:01pm Sep 24, 2009 9:01pm
Hi guys, just made it through this very lengthy thread! Nice work, I hope Feb is doing well!

Is the Asian session worth watching on the JPY pairs, or is it best to stick to London or NYC and EU/GU? I see a couple potential setups on the UJ and GJ but they might be false setups because of the big drop due to news...

Looking forward to following this thread!

Mike
  • #7,052
  • Sep 24, 2009 9:22pm Sep 24, 2009 9:22pm
Hi Mike,
you can trade this with anything however for this scope of this thread we only trade EU and we only discuss EU here. You need to focus on one pair, one time frame, this one is EU.


Quoting xtensive
Hi guys, just made it through this very lengthy thread! Nice work, I hope Feb is doing well!

Is the Asian session worth watching on the JPY pairs, or is it best to stick to London or NYC and EU/GU? I see a couple potential setups on the UJ and GJ but they might be false setups because of the big drop due to news...

Looking forward to following this thread!

Mike
Survive and Preserve
  • #7,053
  • Sep 24, 2009 11:34pm Sep 24, 2009 11:34pm
Nice break in EUR
long since 4671
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.GIF Size: 171 KB
Survive and Preserve
  • #7,054
  • Sep 24, 2009 11:35pm Sep 24, 2009 11:35pm
Lets see if its a moon walker.

Quoting en0x
Nice break in EUR
long since 4671
Survive and Preserve
  • #7,055
  • Sep 24, 2009 11:46pm Sep 24, 2009 11:46pm
Damn shit, the temptation to remove at +21 is HUGE. I must relax, ZEN ZEN. if its ment to be its ment to be. I cannot decide it. I take what the market gives....
lol


Quoting en0x
Lets see if its a moon walker.
Survive and Preserve
  • #7,056
  • Sep 24, 2009 11:51pm Sep 24, 2009 11:51pm
I lost to my head. Sorry guys , I really tried. It touched +30 then I closed

Anyways, today was good
Did a trade, got out at -12 due to me not having time to catch the reversal. Took another short closed out at +12,

Then went long, closed out at +21 , when price hit the top of the bracket and stalled, went long again and closed out for +30
Overall really good day so far. I might actually celebrate and have a friday night out :0


Quoting en0x
Damn shit, the temptation to remove at +21 is HUGE. I must relax, ZEN ZEN. if its ment to be its ment to be. I cannot decide it. I take what the market gives....
lol
Survive and Preserve
  • #7,057
  • Sep 25, 2009 12:24am Sep 25, 2009 12:24am
Quoting en0x
I lost to my head. Sorry guys , I really tried. It touched +30 then I closed

Anyways, today was good
Did a trade, got out at -12 due to me not having time to catch the reversal. Took another short closed out at +12,

Then went long, closed out at +21 , when price hit the top of the bracket and stalled, went long again and closed out for +30
Overall really good day so far. I might actually celebrate and have a friday night out :0
Nice trade you had , great job!
  • #7,058
  • Sep 25, 2009 12:28am Sep 25, 2009 12:28am
Quoting fxachilies
Sir.Paul.. with capitol P.. you were so late on that #6 trade.. .. just busting your balls.. guys just imagine what would have happend if he had got in on time.. lol..
well done my man.. i tell you its awsome to watch that chart and see your 110 big ones.. lots of benji's there guys..
the main message there is..
you sacrifies money on the table to catch more runners..

Thanks for you nice words to me.. as somebody said something very solid today.. forgive me for not remembring the name.. it was something around this line..
[u]you...

Hey fx,

Ok thanks to you and thanks to your kind words. And thanks for beating me up when I get it wrong, cos unfrotuantely that`s how we learn.......

So getting ready for now another day`s trading, got "runner" written over my t-shirt now
Survive and Preserve
  • #7,059
  • Sep 25, 2009 12:38am Sep 25, 2009 12:38am
I admire you Paul, I still am battling to hold for the runner, at least I am getting more and more out of the trade but man oh man its tough work on the head.

this must be phase 3

Quoting PaulLangham
Hey fx,

Ok thanks to you and thanks to your kind words. And thanks for beating me up when I get it wrong, cos unfrotuantely that`s how we learn.......

So getting ready for now another day`s trading, got "runner" written over my t-shirt now
Survive and Preserve
  • #7,060
  • Sep 25, 2009 12:46am Sep 25, 2009 12:46am
Quoting en0x
I need to figure out how to post Oanda charts. Anybody got any ideas how to write on them and stuff?

Like any tools (on XP) that I can use to screen capture and write on? Please dont say paint, that is just too hard to use.
http://www.forexfactory.com/showpost...postcount=2633

This poster uses FastStone Capture. I have never used it but this caught my eye in passing, and it seemed like a happy user.
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