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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)

  • #7,941
  • Sep 30, 2009 11:12am Sep 30, 2009 11:12am
Hello Feb
God bless you Sir !
When there is a BB like in your post ...
Do you generally set your SL at 50% of the hight of the bracket ?
(and not on the other side)
Can you pls explain the reason ?
Tks
David
  • #7,942
  • Sep 30, 2009 11:24am Sep 30, 2009 11:24am
Quoting david4u
Hello Feb
God bless you Sir !
When there is a BB like in your post ...
Do you generally set your SL at 50% of the hight of the bracket ?
(and not on the other side)
Can you pls explain the reason ?
Tks
David
Hello David.

If I see the 50% of the move within a reasonable reach, I'll use it - Trading EUR/USD has a 20 pips range average. So I'll go with that.

A reasonable distance is between point of entry and 20-30 pips at the 50% line. In this particular stop was around 10 pips so I gave a leeway of 12 to avoid a double-top.

This is not a rule set in stone. Every trading instrument has his own rules of engagement. As we're looking for a pair average range (not to be confused with a daily range) we will try to stay around that mark. That includes anything over 1:1 R/R Ratio.

This bracket is just a guide. Just a tool. You need to excise caution.
Peace
  • #7,943
  • Sep 30, 2009 11:30am Sep 30, 2009 11:30am
Quoting FOURX
read the whole thread, like Paul advised you to yesterday. and you'll find that nobody around here is interested in your AU trade.

its superfluous bullshit as you call it
Oh you are one of those guys if you read my comment about the rival guy. Thank you for proving point. I knew you would surface at some point.

Seems like a big clue is the all caps in the thread name.
  • #7,944
  • Sep 30, 2009 11:35am Sep 30, 2009 11:35am
+19. Now I can go to lunch with a smile.
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  • #7,945
  • Sep 30, 2009 11:42am Sep 30, 2009 11:42am
Quoting bpips
Oh you are one of those guys if you read my comment about the rival guy. Thank you for proving point. I knew you would surface at some point.

Seems like a big clue is the all caps in the thread name.
read the thread ,ego
  • #7,946
  • Sep 30, 2009 11:45am Sep 30, 2009 11:45am
+18 pips
I see possible resistance at this moment @ 60-70 range level
lunch time at NY ...
so I decided to take the money ...
david4u
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  • #7,947
  • Sep 30, 2009 12:06pm Sep 30, 2009 12:06pm
Quoting feb2865
Hello David.

If I see the 50% of the move within a reasonable reach, I'll use it - Trading EUR/USD has a 20 pips range average. So I'll go with that.

A reasonable distance is between point of entry and 20-30 pips at the 50% line. In this particular stop was around 10 pips so I gave a leeway of 12 to avoid a double-top.

This is not a rule set in stone. Every trading instrument has his own rules of engagement. As we're looking for a pair average range (not to be confused with a daily range) we will try to stay around that mark. That includes anything...
hay
in this particular you reference only to the 50%, because there was no swing high that you put your SL above it???
am i right ???
it's a huge gap tony, a huge gap.
  • #7,948
  • Sep 30, 2009 1:13pm Sep 30, 2009 1:13pm
Quoting gevellber02
hay
in this particular you reference only to the 50%, because there was no swing high that you put your SL above it???
am i right ???

Yes, exactly....actually we had a triple top on that trade...

You can look either 50% of the move or a last swing...whatever comes first.

The idea is to keep the stop out of the noise as much a possible.

Base the trade on your naked eye and do a calculated risk. I tell you, there's nothing more you can do. I like to see the relationship between the 50% line and the last swing..I mean, it's just me...use whatever flavors you like...just keep the stop out of the way brother!!!



and pull the trigger...that's you job don't forget....
Peace
  • #7,949
  • Sep 30, 2009 1:29pm Sep 30, 2009 1:29pm
NY session trades.
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  • #7,950
  • Sep 30, 2009 2:11pm Sep 30, 2009 2:11pm
yeah i also took that fake 1.458 short trade and got my SL so i am only +14 for today. lost too many in that trade , i know what you say that losing is part of the game, but those stoplosses hurt very much anyone else shorting it right now ?
  • #7,951
  • Sep 30, 2009 2:30pm Sep 30, 2009 2:30pm
To me it looks like a short set up is forming.
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  • #7,952
  • Sep 30, 2009 2:51pm Sep 30, 2009 2:51pm
Here are my trades for today. Any questions please ask. I stopped early so only four trades.
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Survive and Preserve
  • #7,953
  • Sep 30, 2009 3:23pm Sep 30, 2009 3:23pm
paul i really admire the way you trade the market. i have only one question - was there any chance that you can exit trade 2 earlier. the place when you exited trade two could be an enter to a long trade (3) and it would have made more profit. thanks for posting your trades , its very helpful for the unexperienced like myself .
  • #7,954
  • Sep 30, 2009 3:40pm Sep 30, 2009 3:40pm
Hi Guys,
consider today as one of the best days that market can offer.. 3 solid runners in one day, nice up and down movment.. just prefect.. chance to get in early and ride it for good 40-50pips on each..
reaching 100 pips was a must today and not much to it.. but only if you played this right.. meaning if you Played by the If and Then..

ask for me.. I tell you I was pitifull today.. i am +20..
I simple messed up playing #2 on my first trade then did not take the first runner for some odd reason.. but with all that said.. I turned a -35 day to a +30.. so still greatfull..
I made a terrible defensive play and I follwed it with a missed prefect offensive play, and there goes my +100 pips day down to +30.. thats all it takes guys to be a winner or a loser.. oh well, live and learn..

I have posted my chart with the proper enteries and exits for the day..
yellow lines are the proper exits
blue lines are my todays two dumbass exits

see you all tomorrow..

http://cdn.forexfactory.com/images/attach/gif.gif
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  • #7,955
  • Sep 30, 2009 4:13pm Sep 30, 2009 4:13pm
Quoting feline207
paul i really admire the way you trade the market. i have only one question - was there any chance that you can exit trade 2 earlier. the place when you exited trade two could be an enter to a long trade (3) and it would have made more profit. thanks for posting your trades , its very helpful for the unexperienced like myself .

Hi Feline,

Thanks for the comments - by the way I have seen some stuff being posted by yourself which suggest you are on your way so well done.

About that trade, well you are the observant one, because you will have noticed that I normally try to close very fast at BE or BE +1 if price comes back at me. In essence this can mean that I might be over aggressive and miss some trades which retest their entry before shoting off in the right direction .

Now a couple of days ago FEB mentioned about BE`s and allowing yourself some -10`s in order to give some space to price - well that is what I have been trying for two days now. Coupled with this, you are right there was an FCR which I should have used to bail but didn`t.

One of the reasons I don`t post that much intra day is that I actually have to concentrate quite hard on the actual charts themsleves in order to come up with my decisions and I think at this point I was not concentrating enough and simply missed the signal.

Anyway thanks again for your comments and keep up the good work.
Survive and Preserve
  • #7,956
  • Sep 30, 2009 4:15pm Sep 30, 2009 4:15pm
Quoting fxachilies
Hi Guys,
consider today as one of the best days that market can offer.. 3 solid runners in one day, nice up and down movment.. just prefect.. chance to get in early and ride it for good 40-50pips on each..
reaching 100 pips was a must today and not much to it.. but only if you played this right.. meaning if you Played by the If and Then..

ask for me.. I tell you I was pitifull today.. i am +20..
I simple messed up playing #2 on my first trade then did not take the first runner for some odd reason.. but with all that said.. I turned a -35 day to...
Hey Fx,

Great charts and that says it all doesn`t it, being able to come back and recover your position, most people would either throw in the towel or start fighting to get even and end up -75 or even worse
Survive and Preserve
  • #7,957
  • Sep 30, 2009 4:19pm Sep 30, 2009 4:19pm
Quoting PaulLangham
Hi Feline,

Thanks for the comments - by the way I have seen some stuff being posted by yourself which suggest you are on your way so well done.

About that trade, well you are the observant one, because you will have noticed that I normally try to close very fast at BE or BE +1 if price comes back at me. In essence this can mean that I might be over aggressive and miss some trades which retest their entry before shoting off in the right direction .

Now a couple of days ago FEB mentioned about BE`s and allowing yourself some -10`s in order to...
Paulie made a good point here - don't get distracted by posting here.....trading is first...

By the way, Paulie I do have a quick question...how are U managing the load on those trades???
Peace
  • #7,958
  • Sep 30, 2009 4:46pm Sep 30, 2009 4:46pm
i have a question to everyone, especially the more experienced posters. you know those trading simulators for mt4. do you think that it is a good idea to practice through them ? sometimes mostly during the weekends i feel the need to practice some trading when i have nothing else to do and i have tried it. i isn;t bad in my opinion but i dont think that it gives a real feeling for the trade because the speed is different and i dont get the actual true sense of how my trades are developing through time. so my question is, do you think that i shoul continue doing this during my freetime when theres no real trading or i must forget about it ?
  • #7,959
  • Edited 5:11pm Sep 30, 2009 4:49pm | Edited 5:11pm
hello fx paul and everybody
this are my trades today
1. short 4612 +1
2. short 4651 +1 i was hope to be on the save side before the news it didn't happened, so i tighten my SL and stopped out
3.short 4605 +10 push the panic bottom right after the price past that 20 pips green candle, that made the LL
4. long 4596 +34 i didn't exit on the 1st chance (mark in blue) because i wanted to let the price to breathe
I'll be very happy to read your opinion and i hope it will be useful for everybody
thx.
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it's a huge gap tony, a huge gap.
  • #7,960
  • Sep 30, 2009 6:06pm Sep 30, 2009 6:06pm
Quoting bpips
To me it looks like a short set up is forming.
read the thread d**khead,we dont use "Crystal Balls" here.

And yours has obviously got a fault anyway
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