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

The System (Irony included) 1,175 replies

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The System II (Yes with irony)

  • #7,221
  • Sep 25, 2009 6:26am Sep 25, 2009 6:26am
Quoting jplo
Good morning from Spain, Sir.

Just at the right time.... jejeje
jplo,

Aqui me tienes! (here I am)... Oh, the way, I might take you up on your invitation to live in Spain... I spent sometime there years ago, my mother lived in Alicante for a while. I love the lifestyle...
Unus pro omnibus, omnes pro uno
  • #7,222
  • Sep 25, 2009 6:28am Sep 25, 2009 6:28am
Quoting moneda
jplo,

Aqui me tienes! (here I am)... Oh, the way, I might take you up on your invitation to live in Spain... I spent sometime there years ago, my mother lived in Alicante for a while. I love the lifestyle...
Alicante is great..... Beach, sun...etc...

You are most welcome here...
  • #7,223
  • Sep 25, 2009 6:29am Sep 25, 2009 6:29am
Quoting feline207
ok i have a question and i hope it wont be that stupid. i really need to know when do you decide to move your stop loss if you decide to do that. after such a move downwards, do you leave it at the same spot or you lower a little bit ? really confused about that thing.
Feline,

My friend your questions are not stupid...they are lazy...read the pages recommended by FX and others.... You are trying to trade without a solid foundation... Please, take this as a friendly piece of advice...not an insult to your ego.
Unus pro omnibus, omnes pro uno
  • #7,224
  • Sep 25, 2009 6:29am Sep 25, 2009 6:29am
May be runner now???? Who knows...???? So @Let's see!!!@
Nothing personal - only business...
  • #7,225
  • Sep 25, 2009 6:33am Sep 25, 2009 6:33am
i have read through fxachilles post including the summerized post with the links and right now i am going through the whole thread, but haven't seen so far anything convincing about the stop loss. i am asking a question only when i havent found a clear answer for myself from what i've read so far.
  • #7,226
  • Sep 25, 2009 6:45am Sep 25, 2009 6:45am
Quoting feline207
ok i have a question and i hope it wont be that stupid. i really need to know when do you decide to move your stop loss if you decide to do that. after such a move downwards, do you leave it at the same spot or you lower a little bit ? really confused about that thing.

Hi feyline,

Maybe I can help.

Look at the play 1 and play 2 diagrams.



Obviously not every play 1 or play 2 is the same.

Important thing to remember is to decide which one you will play. As Fx said this morning there are no fixed pip delimiters which state now play 1 or now play 2, however, if you have a breakout and price moves up say 5 pips or even 10 pips, without much momentum or follow thru(reading this comes with screen time) you play #2. If you are being quite aggressiive like I am playing now, this means stop to BE immediately.

however if you want to play more relaxed, you give price more room and play it according to the diagram, this means you let price come back at you , even beneath your entry price,closing as close to entry price as possible. Typically this will happen when you get say +2 aghead and then price goes -6 or even -10 and you get back to -2 or BE.


Now for play #1. teh long we just had earlier fro me was play #1 as price moved well away from entry and 'looked' like it was full of momentum and was going to run. However (thank goodness we don't do prediction here) it didn't and came straight back onto the entry price. That was not typical.

My stop was at BE +1, and I did expect price to retrace and have another go at the top. it didn't and so what...... out at BE +1 and I live to fight another day. Normally though you can expect price more often than not to folow the Play #1 diagram



To repeat the important thing to remember no two play #1 or play #2 are the same.

if you have questions just ask.
Attached Images
Survive and Preserve
  • #7,227
  • Sep 25, 2009 6:46am Sep 25, 2009 6:46am
hey Moneda,
don't you dare to laugh at me..
(my chart)



http://cdn.forexfactory.com/images/attach/gif.gif
Attached Image (click to enlarge)
Click to Enlarge Name: 133.gif Size: 21 KB
  • #7,228
  • Sep 25, 2009 6:48am Sep 25, 2009 6:48am
Quoting feline207
i have read through fxachilles post including the summerized post with the links and right now i am going through the whole thread, but haven't seen so far anything convincing about the stop loss. i am asking a question only when i havent found a clear answer for myself from what i've read so far.
Hey feline

if you are trading now take a look live this is breakout from 90 down to 75 and pull back to 88 just in front of entry point.

Do yu have an idea of what you will be playing here ? And where the stop will be ?

trying to help you here.
Survive and Preserve
  • #7,229
  • Sep 25, 2009 6:52am Sep 25, 2009 6:52am
Quoting fxachilies
hey Moneda,
don't you dare to laugh at me..
(my chart)



http://cdn.forexfactory.com/images/attach/gif.gif
Amigo,


.......................... with you! Seriously though... r u still long? Awesome.
Unus pro omnibus, omnes pro uno
  • #7,230
  • Sep 25, 2009 6:57am Sep 25, 2009 6:57am
thank you very much for the attention and the posted examples that you explained . well i already exited that short with +2 and now am waiting for another setup. i placed my stop at entry and didn't take the risk. i know that i probably made a mistake its just that very lack of experience that pushes me more towards reducing the loss than to wait and take the big risk and wait for the trade to reveal itself..but i am working on it.
  • #7,231
  • Sep 25, 2009 7:00am Sep 25, 2009 7:00am
Quoting feline207
thank you very much for the attention and the posted examples that you explained . well i already exited that short with +2 and now am waiting for another setup. i placed my stop at entry and didn't take the risk. i know that i probably made a mistake its just that very lack of experience that pushes me more towards reducing the loss than to wait and take the big risk and wait for the trade to reveal itself..but i am working on it.
OK fine, but re my example price is now pushing to the downside again, to the 79 area , it it gets below the low fine maybe we have a runner if it fails, we thn look to lay the #1 exactly as the diagram, this wil be classic #1. Stop will be at BE during all this but then closing for a real profit when you price unable to break that low - hope that helps feline
Survive and Preserve
  • #7,232
  • Sep 25, 2009 7:00am Sep 25, 2009 7:00am
Quoting moneda
Amigo,


.......................... with you! Seriously though... r u still long? Awesome.
.. we got a girl (Helen) on board here today I not supposed to cuss..lol.. but I f***** this one right in the a**... lol
  • #7,233
  • Sep 25, 2009 7:03am Sep 25, 2009 7:03am
feline

maybe its a good idea to go through last weeks charts print them out and mark up where you see play #1 and plqy #2. Add you exit points and write on your charts why etc etc

It's just repeat , repeat , repeat and of course if you do old charts there are many many,examples, you get there much faster than just watching real time at this point in your development and understading.
Survive and Preserve
  • #7,234
  • Sep 25, 2009 7:07am Sep 25, 2009 7:07am
Quoting PaulLangham
feline

maybe its a good idea to go through last weeks charts print them out and mark up where you see play #1 and plqy #2. Add you exit points and write on your charts why etc etc

It's just repeat , repeat , repeat and of course if you do old charts there are many many,examples, you get there much faster than just watching real time at this point in your development and understading.
thanks once again for advice and explanations. of course i am reading the thread paralel to being here with you now. i also save those charts on my laptop and review them when i have to make decisions. theres a possibility that i leave in about half an hour so if i dont make another post for today i wish you to catch that runner at last and make some goof profit
  • #7,235
  • Sep 25, 2009 7:07am Sep 25, 2009 7:07am
Quoting fxachilies
.. we got a girl (Helen) on board here today I not supposed to cuss..lol.. but I f***** this one right in the a**... lol
FX,

Sorry Helen but I have to follow up with......hope you are practicing safe sex!.. We may have more female members than we realize... I hope so... they are more intuitive and smarter than most of us!
Unus pro omnibus, omnes pro uno
  • #7,236
  • Sep 25, 2009 7:09am Sep 25, 2009 7:09am
Quoting feline207
thanks once again for advice and explanations. of course i am reading the thread paralel to being here with you now. i also save those charts on my laptop and review them when i have to make decisions. theres a possibility that i leave in about half an hour so if i dont make another post for today i wish you to catch that runner at last and make some goof profit
OK.

See price ow at 74 and pushing to go lower, who knows what will happen, if he fails it's a perfect #1 and I close if he goes lower I stay on board.
Survive and Preserve
  • #7,237
  • Sep 25, 2009 7:14am Sep 25, 2009 7:14am
Quoting PaulLangham
OK.

See price ow at 74 and pushing to go lower, who knows what will happen, if he fails it's a perfect #1 and I close if he goes lower I stay on board.

Are you short Paul - where did you enter?
$urvive, Pre$erve & RESPECT THE TEACHER
  • #7,238
  • Sep 25, 2009 7:18am Sep 25, 2009 7:18am
i reentered at this point
  • #7,239
  • Sep 25, 2009 7:18am Sep 25, 2009 7:18am
Quoting mac1956
Are you short Paul - where did you enter?
Thought everyone was short no ?

From 89
Survive and Preserve
  • #7,240
  • Sep 25, 2009 7:20am Sep 25, 2009 7:20am
Quoting feline207
i reentered at this point
What 73 ?

Looks like u r going to the bank shortly - remeber as Fx says though this is already the second part of the move...... u know what that means
Survive and Preserve
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