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The System II (Yes with irony)

  • #7,761
  • Sep 29, 2009 8:38pm Sep 29, 2009 8:38pm
Quoting John888
Started in this session, currently long since 4589, and trying to stay relaxed during the pull-backs. And trying to keep the stops a sensible distance from the action.

ttb, I am staying focussed on EurUsd in line with this forum, but like to look at Aussie.

best wishes to all
Attachment
Hi John

I am long to from 4601. I was in earlier but got spooked by that first big reversal and got out for small loss. Now that I can see the step up pattern I am comfortable with the pull backs. Shooting up now
"Save your ass, then go for profit"
  • #7,762
  • Sep 29, 2009 8:56pm Sep 29, 2009 8:56pm
Quoting ttb
What entry do we use after a resistance line break?
Does anyone use this on other pairs other then the EURUSD?
TTB
Hi TTB

Welcome, Have a look at this link to get up to speed

http://www.forexfactory.com/showpost...postcount=6398
"Save your ass, then go for profit"
  • #7,763
  • Sep 29, 2009 8:56pm Sep 29, 2009 8:56pm
Quoting Paul M
Hi John

I am long to from 4601. I was in earlier but got spooked by that first big reversal and got out for small loss. Now that I can see the step up pattern I am comfortable with the pull backs. Shooting up now
Paul,

I also got spooked on the first retracement, and thought I'd be lucky to BE, but managed to stay cool enough to let it run up. Still going higher, fingers crossed.

This forum has been great for my emotions, and my addiction to indicators!
testing the market
  • #7,764
  • Sep 29, 2009 9:04pm Sep 29, 2009 9:04pm
Euro is moving up, and I'm tempted to raise my stop which is 34 pips away from the action, but I can't see an FCR to place it. Should the stop stay a long way fron the price, or is there another suggestion? I used to use a trailing 3 x ATR, before System II.


Is this temptation to raise the stop another emotion trying to sabotage me?

thanks
John
testing the market
  • #7,765
  • Sep 29, 2009 9:08pm Sep 29, 2009 9:08pm
Quoting John888
Paul,

This forum has been great for my emotions, and my addiction to indicators!
I have only been trading for a couple of months. I got lucky and found this forum before I got addicted.

Looks like an FCR at 4615, I will move my stop loss once it gets a bit higher
"Save your ass, then go for profit"
  • #7,766
  • Sep 29, 2009 9:11pm Sep 29, 2009 9:11pm
Quoting John888
Euro is moving up, and I'm tempted to raise my stop which is 34 pips away from the action, but I can't see an FCR to place it. Should the stop stay a long way fron the price, or is there another suggestion? I used to use a trailing 3 x ATR, before System II.


Is this temptation to raise the stop another emotion trying to sabotage me?

thanks
John
I could be wrong about the FCR in my last post. I am as green as the grass
"Save your ass, then go for profit"
  • #7,767
  • Sep 29, 2009 9:46pm Sep 29, 2009 9:46pm
I got out at 4623, price had faltered 4 times at 4627, so thats it. Looks to be consolidating b/w 4627 and 4618.
testing the market
  • #7,768
  • Sep 29, 2009 9:49pm Sep 29, 2009 9:49pm
Quoting Paul M
I could be wrong about the FCR in my last post. I am as green as the grass
I have gone through my printout of key posts. I couldn't find a clear definition of an FCR. My understanding is... It must be a V shaped thing where (if a bullish move) a LL and a HL is formed. If you include the wicks this is the case at 4616. Perhaps one of the more expereinced chaps could confirm this when they get out of bed.
Attached Image (click to enlarge)
Click to Enlarge Name: chart 30 sep.jpg Size: 95 KB
"Save your ass, then go for profit"
  • #7,769
  • Sep 29, 2009 9:59pm Sep 29, 2009 9:59pm
Quoting John888
I got out at 4623, price had faltered 4 times at 4627, so thats it. Looks to be consolidating b/w 4627 and 4618.
hey john, nice trade mate, but u were better off putting s/l under 1.4618, as it was a free ride for you, there was nothing to lose on that trade, but all in all john good trade
cheers andrew
Survive & Preserve
  • #7,770
  • Sep 29, 2009 10:00pm Sep 29, 2009 10:00pm
Quoting John888
I got out at 4623, price had faltered 4 times at 4627, so thats it. Looks to be consolidating b/w 4627 and 4618.
I was just about to for the same reason, had my finger on the button. I thought i will see if it retraces again then exit and it take off again. Got lucky for a change
"Save your ass, then go for profit"
  • #7,771
  • Sep 29, 2009 10:01pm Sep 29, 2009 10:01pm
Quoting Paul M
I have gone through my printout of key posts. I couldn't find a clear definition of an FCR. My understanding is... It must be a V shaped thing where (if a bullish move) a LL and a HL is formed. If you include the wicks this is the case at 4616. Perhaps one of the more expereinced chaps could confirm this when they get out of bed.
Paul, I also thought 4616 was a reasonable spot, once price had moved far enough away.

If you're still in, hope it keeps going for you.

cheers.
testing the market
  • #7,772
  • Sep 29, 2009 10:05pm Sep 29, 2009 10:05pm
Quoting andrewb7
hey john, nice trade mate, but u were better off putting s/l under 1.4618, as it was a free ride for you, there was nothing to lose on that trade, but all in all john good trade
cheers andrew
Andrew, thanks for your kind words. Under 4618 would have been smarter for me, for the sake of 6-7 pips.

On to the next setup...
testing the market
  • #7,773
  • Sep 29, 2009 10:08pm Sep 29, 2009 10:08pm
what a run.
  • #7,774
  • Sep 29, 2009 10:11pm Sep 29, 2009 10:11pm
just becareful of trading the continuation john, anyway i have to get back to work see u guys in few hrs
andrew
Survive & Preserve
  • #7,775
  • Sep 29, 2009 10:23pm Sep 29, 2009 10:23pm
trades for today
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd assian session 9_29_2009.JPG Size: 360 KB
  • #7,776
  • Sep 29, 2009 10:24pm Sep 29, 2009 10:24pm
Quoting John888
Paul, I also thought 4616 was a reasonable spot, once price had moved far enough away.

If you're still in, hope it keeps going for you.

cheers.
Got stopped out at 4615, just as i came back from lunch. Oh well +13 pips. looking to go short 4615
"Save your ass, then go for profit"
  • #7,777
  • Sep 29, 2009 10:40pm Sep 29, 2009 10:40pm
Looks like it was a great asia session so far

I just got to my laptop so can only look from here, lets see if the rest of the session would be so kind to give me a run for the day , if not then oh well.
Survive and Preserve
  • #7,778
  • Sep 29, 2009 10:42pm Sep 29, 2009 10:42pm
Hi tghfbt8, nice trades.

Can you remove your trendlines prior to posting? We dont use them in the method discussed in this channel, if you do then great, just rather not post them otherwise we will get a million questions from newbies , its more annoying then entertaining.

I personally dont use them but if you do, that is your trading , just rather not post them.



Quoting tghfbt8
trades for today
Survive and Preserve
  • #7,779
  • Sep 29, 2009 10:49pm Sep 29, 2009 10:49pm
Short order for 4610.

Its the yellow dot on the chart.
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.GIF Size: 56 KB
Survive and Preserve
  • #7,780
  • Sep 29, 2009 11:39pm Sep 29, 2009 11:39pm
Quoting en0x
Can you remove your trendlines prior to posting?
Do you mean you don't use any technical analysis? No trend-lines, channels, formations. How do you know the trend without 5 SMA+MACD+STOCH+RSI?
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