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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)

  • #7,421
  • Sep 28, 2009 1:58am Sep 28, 2009 1:58am
Quoting PaulLangham
Hi Dim,

This can be discussed later maybe, but it might have been better to go for the long at 92'ish, in fact there is a channel or consolidation within a consilidation.

Hope this helps
Thank you Paul!!!

Do you mean the new recent consolidation inside an old consolidation as a new more narrow conaolidation (more new price action) in big blue box on the cahrt?
  • #7,422
  • Sep 28, 2009 1:58am Sep 28, 2009 1:58am
Out @ BE after playing #2...

I'm gonna wait for new trading opportunities as well,
  • #7,423
  • Sep 28, 2009 2:00am Sep 28, 2009 2:00am
Quoting PaulLangham
Hello John,

Generally we remove all indicators from charts that are posted here and draw the FCR's lines in as we go - at least that is what Fx likes people to do

Hope that helps
Paul, thanks, will do that. The only indicator I use is the HH/LL of the past 2 bars, helps me locate FCRs, but will take off before posting in future.

cheers,
John
testing the market
  • #7,424
  • Sep 28, 2009 2:01am Sep 28, 2009 2:01am
chart...
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  • #7,425
  • Sep 28, 2009 2:07am Sep 28, 2009 2:07am
Saw the red candle forming and bailed -
+5.5
Not sure what to make of that - hindsight is a luxury.

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$urvive, Pre$erve & RESPECT THE TEACHER
  • #7,426
  • Sep 28, 2009 2:08am Sep 28, 2009 2:08am
hey guys, i have missed a couple of days & just caught up on the 40 or so pages , great work everybody,
cheers andrew
& for all u aussies here "GO THOSE EELS"
Survive & Preserve
  • #7,427
  • Sep 28, 2009 2:10am Sep 28, 2009 2:10am
Quoting andrewb7
hey guys, i have missed a couple of days & just caught up on the 40 or so pages , great work everybody,
cheers andrew
& for all u aussies here "GO THOSE EELS"
GO THE WARRIORS
  • #7,428
  • Sep 28, 2009 2:12am Sep 28, 2009 2:12am
Quoting cunparis
If I understand #2 correctly, you don't just exit at BE. You wait and see if price cannot make a HH or LL. If it cannot, then you exit as close to BE as possible. I'm looking for a reversal bar with follow-through (continuation next bar) to let me know price isn't going my way.

My thinking is this: You're close to BE. If you risk say 5-10 pips waiting for a reversal bar, you stand to gain 30+ pips if a reversal never comes. So your risk reward at this point is much better than it was when you placed the trade (you're now giving it 5-10 pips instead...
Morning Cunparis...

playing #2 can be tricky about what you are comenting,
I meant, if price gives you a nasty fakeaout and you are in a quickly move agaist you as soon as you enter into a trade... you should play #2 more agresively and try to get out as soon as possible at BE or close to it, because market usually gives you 1 unique chance to do it, and after a bid drop against your position, rarely is gonna turn into a runner...

But sometimes, you can give price a little more briding room to see its behaviour @ HH/LL more quietly...

#2 is a surviving move...

Only my humble opinion, buddy...
  • #7,429
  • Sep 28, 2009 2:13am Sep 28, 2009 2:13am
THE STORM had a good match... but i'll go for the EELS too... (with no indicators, pivots etc,... ) i promess.. lol
  • #7,430
  • Sep 28, 2009 2:14am Sep 28, 2009 2:14am
Quoting dim4ik42
Thank you Paul!!!

Do you mean the new recent consolidation inside an old consolidation as a new more narrow conaolidation (more new price action) in big blue box on the cahrt?
Yes this is it, however see some of the posts from last week where this is dicussed more fully, the issue is that if the FCr's get too close together swithing from the long to short side it simply confirms that we are in a consoslidation and this is choppy suey time

My thinking on this was that we are at both the European and London opening now and they usually like to push it one way or another so I took the trade but was ready to close quickly which I did in fact.

If there is a good move , followed by consolidation, pre NY open, then then I wouldn't play the same game, I would wait until the yankees arrive and we have full throttle to get us outside of any larger consolidation.

Hope ths makes sense I will try to post a chart on this later

Sorry just seen your blue chart post - no I mean to the upisded so long trade in this case
Survive and Preserve
  • #7,431
  • Sep 28, 2009 2:15am Sep 28, 2009 2:15am
I am allowing the PA of the asian session to play on my mind and finding I am hesitant to go long. I have chosen against 2 long entries in a row so I am out of synch with this market today. Because my mind is now committed to the market doing something, it is time to turn off my charts and take a break. Sometimes the best action is to stop and come back with a fresh perspective. Winning the mental capital game is a must and right now I am listening to my inner voice instead of the market.
I make money anywhere in the world by taking orders
  • #7,432
  • Sep 28, 2009 2:15am Sep 28, 2009 2:15am
I only watch international rugby and I only support the springboks


Quoting Froggy10
THE STORM had a good match... but i'll go for the EELS too... (with no indicators, pivots etc,... ) i promess.. lol
Survive and Preserve
  • #7,433
  • Sep 28, 2009 2:17am Sep 28, 2009 2:17am
Quoting dim4ik42
chart...
Hi Dim,

I notice you took a long at the first break of the upper bracket line. The way I saw that upper line was that it had only one point of contact at 14601. That first challenge was the second and it failed. Then it double bottomed and came back with some momentum. This was my thinking for waiting for that new high to be broken before I traded. Might not be worth anything at all, just the way I have been seeing these consolidation patterns offered for discussion - I am far from being any kind of expert I promise you.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #7,434
  • Sep 28, 2009 2:20am Sep 28, 2009 2:20am
Quoting jplo
Morning Cunparis...

playing #2 can be tricky about what you are comenting,
I meant, if price gives you a nasty fakeaout and you are in a quickly move agaist you as soon as you enter into a trade... you should play #2 more agresively and try to get out as soon as possible at BE or close to it, because market usually gives you 1 unique chance to do it, and after a bid drop against your position, rarely is gonna turn into a runner...

But sometimes, you can give price a little more briding room to see its behaviour @ HH/LL more quietly...

#2...
Hi yes i agree with JPLO,

If for example you enter, all goes well, price moves up say 12 or even 15 pipis , then comes straight back down at you no pause, then you are at out at BE worts or BE +1

If price goes say 3 pips in your favourr then drops to say -12 then you wait till attempts to get back to the entry price or the high at +3, if it fails there you exit sharpish. If it it carries on through the orginal entry and the last high then you take thinsg from there.

Hope this helps
Survive and Preserve
  • #7,435
  • Sep 28, 2009 2:21am Sep 28, 2009 2:21am
LOng 25 and out at BE
Survive and Preserve
  • #7,436
  • Sep 28, 2009 2:23am Sep 28, 2009 2:23am
I played this too but market didnt go much further, closed it at BE too.
Quoting PaulLangham
LOng 25 and out at BE
Survive and Preserve
  • #7,437
  • Sep 28, 2009 2:26am Sep 28, 2009 2:26am
Quoting PaulLangham
LOng 25 and out at BE
i took that one too but didnt go much higher and closed at be too
  • #7,438
  • Sep 28, 2009 2:27am Sep 28, 2009 2:27am
Testing this litlle FCR to short side.....

Only testing, no more expectations than see how price reacts....
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  • #7,439
  • Sep 28, 2009 2:31am Sep 28, 2009 2:31am
Quoting PaulLangham
LOng 25 and out at BE
I did same trade, but shill in,,, set Sl@4607
but where is FX??
  • #7,440
  • Sep 28, 2009 2:32am Sep 28, 2009 2:32am
Quoting PaulLangham
If price goes say 3 pips in your favourr then drops to say -12 then you wait till attempts to get back to the entry price or the high at +3, if it fails there you exit sharpish. If it it carries on through the orginal entry and the last high then you take thinsg from there.
I think we're saying the same thing. The difficult part is how to know when it fails. My idea is to look for a reversal bar with continuation on the next bar. My thinking is that I'd prefer to risk 5-10 pips here rather than get out at BE and miss a big move.

But I understand the other view is that if it stalls around the former high or low, it's weak and probably won't continue higher. Maybe I got lucky on this one?
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