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The System II (Yes with irony)

  • #7,361
  • Sep 26, 2009 1:09pm Sep 26, 2009 1:09pm
[quote=moneda;3094922]Hello,

We are trying to control our loses in this guessing game while trying to catch a runner....Preserve and Survive as FX puts it....that is it in a nutshell. Sounds and looks easy but sooner or later we all find out that it will require lots of screen time, tenacity, discipline, courage, a fearless attitude to name a few...some of us can get there faster than other but it is within our reach if you wanted bad enough. I also believe that success can mean many different things to us... so take this approach one step at a time....be gentle with yourself and help us in whatever way you can to keep this thread alive and well.



Hi Moneda

Thankyou for your comments and another excellent post. I am trading .01 lots so the money is not an issue. I was more frustrated. I have been putting a lot of effort into this, I want to see some results. Anyway i am fine without now, another good learning experience. Your post has helped get it into perspective. Can't wait for Monday so I can get back in the ring "ding ding"
"Save your ass, then go for profit"
  • #7,362
  • Sep 26, 2009 1:18pm Sep 26, 2009 1:18pm
Quoting mac1956
Your chart is a contribution - what an honest guy you are.
Hey thanks Mac, I am feeling warm and fuzzy. Nice one
"Save your ass, then go for profit"
  • #7,363
  • Sep 26, 2009 1:28pm Sep 26, 2009 1:28pm
Quoting mac1956
Don't take this to heart Fx. This is so clearly a LANGUAGE BASED MISUNDERSTANDING.
That was my interpretation too. Well said Mac. Lets take the heat out of this
"Save your ass, then go for profit"
  • #7,364
  • Sep 26, 2009 9:20pm Sep 26, 2009 9:20pm
Paul M,

I have taken the spreadsheet I use and made it more colourful using what Dare had in his spreadsheet. Although I still only have the basics that I use, Dares sheet is very cool but overly complicated. I like to just have the stuff I need , nothing more as I dont want an information overload.

Anyways I am uploading it, its pretty self explanatory but please TEST it using a demo quick trade to ensure that you are happy with it. I dont use mt4 accounts and havent used it for ages so you need to double check especially the MT4 sheet. THe oanda sheet is right and I use that weekly so its tested already. PM me if you need help understanding it but its very simple and basic.
Attached File(s)
File Type: xls Position Sizing.xls   18 KB | 548 downloads
Survive and Preserve
  • #7,365
  • Sep 27, 2009 3:11am Sep 27, 2009 3:11am
Quoting en0x
Paul M,

I have taken the spreadsheet I use and made it more colourful using what Dare had in his spreadsheet. Although I still only have the basics that I use, Dares sheet is very cool but overly complicated. I like to just have the stuff I need , nothing more as I dont want an information overload.

Anyways I am uploading it, its pretty self explanatory but please TEST it using a demo quick trade to ensure that you are happy with it. I dont use mt4 accounts and havent used it for ages so you need to double check especially the MT4 sheet. THe...
Simplicity itself - I've downloaded it and will use it of that's OK.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #7,366
  • Sep 27, 2009 7:45am Sep 27, 2009 7:45am
Anything to help out . Speak to you tomorrow.
Quoting mac1956
Simplicity itself - I've downloaded it and will use it of that's OK.
Survive and Preserve
  • #7,367
  • Sep 27, 2009 10:55am Sep 27, 2009 10:55am
I think it would be a good idea for this thread to move to its own trading room . This would help have all the members discussing together in real time about the forming setups . It would also help filtering the bad guys and kicking them out whenever ...
A room with more than 20 members is enough to have very interesting comunication and allow for charts to be seen in real time .

Just an opinion ,

All the best

zaba1
  • #7,368
  • Sep 27, 2009 2:18pm Sep 27, 2009 2:18pm
Quoting zaba1
I think it would be a good idea for this thread to move to its own trading room . This would help have all the members discussing together in real time about the forming setups . It would also help filtering the bad guys and kicking them out whenever ...
A room with more than 20 members is enough to have very interesting comunication and allow for charts to be seen in real time .

Just an opinion ,

All the best

zaba1
Zaba,

I have been involved in such things before...Feb and I and a few of the original posters did it for a while.... not a thing wrong with.... it sounds much better in theory than in practice... why don't you set one up and experiment with it...we have nothing to loose and it might be helpful to some of the people here. You will get more feedback tomorrow.

Thanks for the idea.
Unus pro omnibus, omnes pro uno
  • #7,369
  • Sep 27, 2009 5:56pm Sep 27, 2009 5:56pm
Anyone watcing right now - why is it that the spreads keep altering. Eurusd keeps going from 2 pips to 5, then back again - I'm using igindex. Is this typical of trading this time of day/night?
$urvive, Pre$erve & RESPECT THE TEACHER
  • #7,370
  • Sep 27, 2009 6:03pm Sep 27, 2009 6:03pm
Variable spread brokers wil have a wide spread for a little now until the liquidity providers get into the market again. Its still only 8am in TKY and 7AM in Hong Kong and Singapore. Spread will be wide for at least another 30mins to 1 hour. You shouldnt be trading Asia Mac, its expensive. Trade at your own peril

Oanda has 5 pip spread now , it will tighten to around 2pip and should stay that way for most of asia trading session. When Frankfurt open(at around 7am GMT) it will then tighten to 0.9pips or there abouts.

That is how it normally works.


Quoting mac1956
Anyone watcing right now - why is it that the spreads keep altering. Eurusd keeps going from 2 pips to 5, then back again - I'm using igindex. Is this typical of trading this time of day/night?
Survive and Preserve
  • #7,371
  • Sep 27, 2009 6:12pm Sep 27, 2009 6:12pm
Quoting en0x
Variable spread brokers wil have a wide spread for a little now until the liquidity providers get into the market again. Its still only 8am in TKY and 7AM in Hong Kong and Singapore. Spread will be wide for at least another 30mins to 1 hour. You shouldnt be trading Asia Mac, its expensive. Trade at your own peril

Oanda has 5 pip spread now , it will tighten to around 2pip and should stay that way for most of asia trading session. When Frankfurt open(at around 7am GMT) it will then tighten to 0.9pips or there abouts.

That is how it normally...

Thanks for the advice. I have a position on another pair right now that seems to be stable. I really need to be in bed asleep but I just couldn't resist!
$urvive, Pre$erve & RESPECT THE TEACHER
  • #7,372
  • Sep 27, 2009 6:31pm Sep 27, 2009 6:31pm
TKY 8:30, spread has now tightned. On oanda its abotu 1 pip wide now.


Quoting mac1956
Thanks for the advice. I have a position on another pair right now that seems to be stable. I really need to be in bed asleep but I just couldn't resist!
Survive and Preserve
  • #7,373
  • Sep 27, 2009 7:26pm Sep 27, 2009 7:26pm
Entered Short @ 4697, on the chart its the little yellow squiggle (using paint to draw on sorry ).

Its went to +21, moved SL to break even and see if this will run for asia session.

Testing to see if runners happen during asia or if I should target +21. I guess time will tell.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.GIF Size: 59 KB
Survive and Preserve
  • #7,374
  • Sep 27, 2009 7:38pm Sep 27, 2009 7:38pm
Tested LL again but it was hanging there (what is hanging there mean? I took it meant a couple of mins. I need to define this better.)

Closed for +22

Quoting en0x
Entered Short @ 4697, on the chart its the little yellow squiggle (using paint to draw on sorry ).

Its went to +21, moved SL to break even and see if this will run for asia session.

Testing to see if runners happen during asia or if I should target +21. I guess time will tell.
Survive and Preserve
  • #7,375
  • Sep 27, 2009 7:41pm Sep 27, 2009 7:41pm
My post trade analysis. Entry was short at yellow, excited at red. I am still trading scared. I can feel it. i can feel the trade just hesitating at that LL and I wont even give it time to decide, I just closed at +22 using my "HEAD" again, which it wasn't it was my heart used there and that is a bad habit.

As i write this, price broke down for a further 10 pips.

Why am I having such a hard time letting go of the trades?

Frustrating to say the least.

Quoting en0x
Tested LL again but it was hanging there (what is hanging there mean? I took it meant a couple of mins. I need to define this better.)

Closed for +22
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.GIF Size: 60 KB
Survive and Preserve
  • #7,376
  • Sep 27, 2009 7:42pm Sep 27, 2009 7:42pm
I stumbled across your thread last Thursday, and found it very refreshing. After reading much of the thread, I was able to follow the posts for Friday's price movement, and found it a welcome change from years of looking at charts with indicators.

I realise now that I was always looking for indicators that reinforced what was already apparent in the price action, and my best trades were made when I acted on sound price patterns without knowing it.

Thanks to all for a great thread, its motivated me to join a forum again, after getting fed up with thread politics a long time ago.

cheers
John
testing the market
  • #7,377
  • Sep 27, 2009 7:45pm Sep 27, 2009 7:45pm
Come to think of it, I think I put it down to screen time.Even though I truly believe and have seen this method work over and over again, I just am battling to overcome my psych. I take it its just screentime, and getting more confident in my ability to trade successfully as well as using my head. BIG RED candle what does that mean? My brain tells me if it means that there is a confident move down, yet I still closed out early.

Anyways, that was my brain for the moment , might help someone, might not, sorry if it clutters up the thread


Quoting en0x
My post trade analysis. Entry was short at yellow, excited at red. I am still trading scared. I can feel it. i can feel the trade just hesitating at that LL and I wont even give it time to decide, I just closed at +22 using my "HEAD" again, which it wasn't it was my heart used there and that is a bad habit.

As i write this, price broke down for a further 10 pips.

Why am I having such a hard time letting go of the trades?

Frustrating to say the least.
Survive and Preserve
  • #7,378
  • Sep 27, 2009 7:46pm Sep 27, 2009 7:46pm
My hope is someone caught this ride and is still riding this beast down

Quoting en0x
Come to think of it, I think I put it down to screen time.Even though I truly believe and have seen this method work over and over again, I just am battling to overcome my psych. I take it its just screentime, and getting more confident in my ability to trade successfully as well as using my head. BIG RED candle what does that mean? My brain tells me if it means that there is a confident move down, yet I still closed out early.

Anyways, that was my brain for the moment , might help someone, might not, sorry if it clutters up the thread
Survive and Preserve
  • #7,379
  • Sep 27, 2009 7:52pm Sep 27, 2009 7:52pm
Quoting en0x
My post trade analysis. Entry was short at yellow, excited at red. I am still trading scared. I can feel it. i can feel the trade just hesitating at that LL and I wont even give it time to decide, I just closed at +22 using my "HEAD" again, which it wasn't it was my heart used there and that is a bad habit.

As i write this, price broke down for a further 10 pips.

Why am I having such a hard time letting go of the trades?

Frustrating to say the least.
In the same boat on this one. Kicking myself that I didn't let it run; but then again, I didn't expect such a big move in the asian session. I reasoned to myself that I would be happy with 20 pips under the circumstances.
  • #7,380
  • Sep 27, 2009 7:56pm Sep 27, 2009 7:56pm
Quetion for Moneda and FX
As I am trading the EUR 5 min during Asia, do you want me to start up another thread to keep this thread focused on LDN/NYC times or do you mind if I continue posting in relation to my EUR trades during asia?
Survive and Preserve
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