The System II (Yes with irony)

Long?........ what the F**k, this is turning into a free for all

David

don't get yourself hanged into candlestick stuff......to be honest it will keep you trading on your toes and that's not what we want...

turns out to be pretty much like reading tea leaves...

no offense intended.

Yes, short@ 1.4578, watching pa now

fucking crazy runners.. lol.. just kidding around with you..

forget the first two letters.. pay attention to the last one.. which it stands for.. R = Reversal

why in this freakin' world you guys still dwell on trading every single hiccup outhere??

All I see, before the big ass red candle, is just a small hiccup......

Repeat after me - The basis of this "system" is.........???


Ok....good...... now you know.

Placing sl above last high 1.4572

hmmm! I see!

Another thing - I see people here trading every single move outhere and only a few are talking about "stoping" due money management rules(either winning or losing). Don't take this wrong but this is not what I teach here. It's good to know the mechanics of the trade but you need to take care of your bankroll.

I sincerely hope by this time, nobody plays on demo anymore....

This is not a demo thread anymore. I told you guys sometime ago that the training wheels are off.....remember?...

Don't take this the wrong way but if you guys want me around here with some advice and guidance, I have a big mouth, especially when things are kinda twisted.

Hi Guys,

Just to let you know that I've been working with this system... which I call "Jedi Trading" for a week now. It's been a battle trying to understand the connection between my psychology, the market and also the time restrictions placed upon my trading. Anyway, I picked up 80 pips last night on overnight trades I placed. This was a bracket trade on EURUSD and GBPUSD, going short. So it's starting to kick in.

Last week I mentioned I was going to start a documentation project. Well, now I will have 2 approaches to this:

a) Document all Feb's Posts to date
b) Document "MY" interpretation of the system based on Feb, FXAchilles, Moneda's posts.

I am working on (a) as it is what I consider the "Bible". All interpretations must come from this source first.

I will put (b) together after I complete (a) as it is obviously a growth in learning between Feb and others, especially FXAchilles. After all, FCR was FX's invention - but the concept is Feb's - but again, from what I've read so far, it's an interpretation.

Going over some other posts in the last 2 months, I think that the system is great but still leaves ambiguous messages about:

1. Short Term Trading (21 pip target) vs Medium Term Target (Runners)
2. Reading Price Action and what it really means to "rely on price"

I use other indicators which I wont mention on this thread. They are not lagging, they are based on mathematical "fractals" (which is what intrigued me about this thread to begin with) and are purely based on price. These have assisted my own trading and reconciling points 1 and 2 above. It is very clear to me that new traders are battling with points 1 and 2 and I am one of them. I suggest that NOT RULES BUT GUIDELINES should start being discussed. This is a discussion forum after all.

These points lead me to the #1 and #2 Approaches for Fakeouts which again have relation to the points above. I will reserve my judgement on this for now but suffice to say, I will research FEB's System I which relies on Longer Term trends. I think that to answer Point 1 above, we should go back to FEB's 1st post where he clearly talks about trading with the trend....... but what does trend mean?? What is the definition of a trend for this System?

Your MetaTrader screen will only give you approx 12 hours worth of 5 min blocks... but if the overall trend is down (eg. in 4 Hour and 1 Hour)... and 5min is giving little scalps of 21 upwards.... there will be a very vicious fakeout and you will need to know what to do.. and learn to use the system to catch that trending runner. I believe further discussion needs to be had here.... perhaps FEB can offer more insights.

I personally believe newbies are forgetting the requirement for a 30-40 pip initial swing in order to create a "spring" retracement. I am seeing trades that I personally wouldn't call "pure" Jedi Trading but simply a breakout strategy.... which is very prone to fakeouts. In the first 3 days of this system I lost almost 100 pips because I was being stopped out 10 times at 10 pips each on these fakeouts.... only to realise I wasn't coming in on a proper setup but when the market started ranging..... I'd come in to late on the last move... and I was anticipating the next. Wrong! The first 20 posts are vital to understanding this system. Also, we are all chasing runners... but based on my recen t study, we've only gotten 4 runners over the last 2 days (ie 48 hours / 5 min = 576 * 5 min bars). This means it does make sense to take 21 pips more regularly and build your capital base (which is what FEB said at the start) so that you are able to "load" for a runner (which relies on at least 50% of the move for the stop loss - again thanks feb). I've revised what I think this system's goals are: 1st - build our capital base and protect it, 2nd - grab running trades. So knowing the trend will dictate to do goal one, and when the trend/consolidation is over you will most likely get a chance at goal 2.

Anway I'm rambling. I will continue trading where I can and working on the documents. Discussion welcome!

Good trading to everyone.

there is a good lesson about trading against the trend... and not waiting for the correct signal.... beating applied -8.

trend down and thanks feb and fx for your post ... don't get carried away trading the small stuff when a trend is running...

val,
erase this post please.. on offence..
there is not system here.. no invenstion.. and no indicator of any sort.. just to begin with..

send I and feb a pm before making any other move..

Thank you..

Hi Feb
Thanks for your kind and gentle words .
You show every time that you are not only a great trader but a also a great person .
Please stay close .
Regards
david4u

Hi Fx,

I'm a bit !Surprised! by your reply.
Can you give me a reason (private or otherwise) why I should delete this post. It is a forum after all and no-one own's anything for me to be asked to delete my own contribution to a discussion = freedom of speech.

to address your "just to begin with".... The Title of this Thread is "The SYSTEM II" and it is placed under the Forum Section "Trading Systems" which is what it is. I never mentioned that I was introducing, wanting to convey or tell everyone to use any other price indicator - I wanted to merely say that using the words "use price action" is unclear unless you define things more clearly. You coined the term FCR to convey a concept and now all traders in this forum use it. I don't care what you call it... I know what you mean by it - it's very useful, BUT you DID invent it.

Anyway, I don't have the time to sit and watch this forum. If you don't want the documentation, I will do it privately and not post it to anyone here. I will complete Document 1 and 2 on my own and if Feb approves Document 1 I will post it here. I will keep Document 2 and anyone can request it via a private message.

Vlady,

Please understand it is not about freedom of speech it is about consideration for what is going on here... it would have been better if you contacted Feb or Fx and share your findings/ideas first with them before releasing it...just plain common sense... or open up your own thread..

Hope you understand

Totally second that

There is an important thing you are saying Vlady,
"You coined the term FCR to convey a concept and now all traders in this forum use it."

It is not about a name it is all about keeping all newbies (like me) and not so newbies traders on this amazing thread, on the same page, doing and understanding the same things, and watching at the same picture.....

Only my views...

vla,
its called "system II" (with irony).. that means no damn system..
secondly.. you were supposed to get febs approval and mine and monedas before posting anything..
from your post i can tell how lost you are.. you have not got the main message of this thread.. its nothing automated about it.. it's not about some mathematicall junk.. all it does confuses people and complicates the matter.. we are all about simplicity..
freedom of speach... you know hell with all that.. its about making money..
what I preach here which i based on the foundation that feb has implmented here, is all being displayed with live trades before the fact.. your whole post is based on a week of experince..
I know more about this style and this thread more than you will ever know.. i lead with example.. and prove things day in day out.. and thats why we got this thread as popular and as larges as you see..

you must have just like I told you to check with me first..
you have missed all the key points of this thread and you are not qualified enough to fit this task..

I can care or less if this post is deleted or no.. peopel are smart enough to know the difference and what this thread stands for i what I have done for them as countination of febs work..

i bet you can not do any live trade or show a consistency that i have showed here based on what you are suggesting based on your limited experience and anayalisis.. i dear you to do it..
i wanna see how you make a fool out of yourself..

ball is in your court Guys.. be the judge.. and do as you wish..

I am out.

I absolutely understand how surprised you must feel after all that work and thought. YOu've obviously worked bloody hard at it and you want to contribute. But I'm not surprised at Fx's reaction, nor my own, or anyone elses' for that matter - and I mean you no offence at all I promise you - I'll tell you why if you'll humour me.
I initially trawled through the thread thinking as you, "This could do with putting into a manual - trim it down a bit, make it cleare and more accessible"...I asked dumb questions and did dumbarse things (still do as a matter of fact!) and the longer I kept turning up the more I began to think that was quite wrong. The principles are simple - in fact Fx sums it up in one short post. I reckon they are only 10% of the process, and that's probably an overestimate. Practising them in the heat of the market seems to me 90% of this methodology/philosophy/slant-on-things call it what you will. I know what an FCR is, and sometimes I hallucinate one that just isn't there - or miss one the size of an elephant that is - I DO THAT, the 'system' doesn't. Sometimes I know it's time to get out on a #2 at BE, but my fantasy future kicks in and I lose 21 pips in a blink. I MAKE THE CHOICE the system doesn't. The older traders, the experts here make better choices more frequently than us newbies using the same charts, same prinicples, same basic approach. Now that's really odd for something that should fit into a neat manual so everyone can have easy access to it.

But it is misleading to imagine that it would be sufficient. This is a journey - and this thread is the evidence that it takes place every day and night and even at weekends. If you want to benefit formteh twists and turns that each person who posts has been through, the self-doubt, the fuck ups, the wins, the losses then this wonderful living archive is that story - and anyone who has the wit, wisdom, patience and commitment to can sit and trawl through every moment - it's a drama - and in the centre of it lies the 90%! A manual strips all that away. So get on the journey - get up to date and then contribute. Or go and write a lifeless manual that tells you stuff that is already out there in one form or another - 'swing trading' blah blah blah all sort so of names. There is a poweful transfer of learning that occurs on this thread that defies communication by any other means. I will probably never meet Enox, or Jplo, PaulM, Moneda, Fx ro Feb (to name just a few) in the flesh, but I am priviledged and so so lucky to spend every day I do with them as they put their asses on the line and that teaches me more than I could ever write down in words. This is precious, rare and is what it is - a JEWEL.

No manual can let you in on this - only the thread with all its blind alleys, diversions, rough patches, struggles... if it is a system, it's too deep to be distilled. As Fx says - it's a family.

Just my opinion for what it's worth.

Mac,

.

@ Mac

Very thoughtful, articulate post, I'm sure your thoughts resonate with many of us here

Excellent post!!!!