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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)

  • #8,401
  • Edited 8:46am Oct 5, 2009 8:35am | Edited 8:46am
Quoting fxachilies
uwwwww... i don't know about taking that one..
NY open and smi i afew... I am sitting on my hands..
I don't mind testing the waters... (but it looks awful indeed!!! )

Edit: Out at BE... playing #2 again! Could be a runner, but it's too choppy. I don't like gambling, I like winning!
  • #8,402
  • Oct 5, 2009 10:49am Oct 5, 2009 10:49am
i took a long at 1.4634. do you think that it was to early and i shouldve waited for 1.464 and above?
  • #8,403
  • Oct 5, 2009 10:54am Oct 5, 2009 10:54am
Quoting feline207
i took a long at 1.4634. do you think that it was to early and i shouldve waited for 1.464 and above?

I think the PA just answered your question!
$urvive, Pre$erve & RESPECT THE TEACHER
  • #8,404
  • Oct 5, 2009 10:57am Oct 5, 2009 10:57am
Quoting mac1956
I think the PA just answered your question!
yes i saw that i hope everyone else took that opportunity. well see
  • #8,405
  • Oct 5, 2009 12:01pm Oct 5, 2009 12:01pm
Quoting feline207
yes i saw that i hope everyone else took that opportunity. well see
You still sitting on that long trade?
$urvive, Pre$erve & RESPECT THE TEACHER
  • #8,406
  • Oct 5, 2009 12:02pm Oct 5, 2009 12:02pm
i wanna go through the roof to the top of the mountain / i exited the long trade because i wanted to took some profit and was hoping to reverse but it didnt happen ! ;/ but it might have been a mistake if it brakes that high right now
  • #8,407
  • Oct 5, 2009 12:04pm Oct 5, 2009 12:04pm
Quoting feline207
i wanna go through the roof to the top of the mountain
It hit that HH twice now and failed to break it decisively.
I've got an order to go short at 14633 if it all turns on its heels.
I missed the long one as I'd just got in from London meetings.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #8,408
  • Oct 5, 2009 12:07pm Oct 5, 2009 12:07pm
i saw it actually made a triple hit on that area today. so youre right, theres a good possibility for us to short it under the 1.4637 reversal. so i'll probably place a stop order too
  • #8,409
  • Oct 5, 2009 12:23pm Oct 5, 2009 12:23pm
Quoting feline207
i saw it actually made a triple hit on that area today. so youre right, theres a good possibility for us to short it under the 1.4637 reversal. so i'll probably place a stop order too
Ain't finished goin' up yet - bet you wish you'd stayed in!
$urvive, Pre$erve & RESPECT THE TEACHER
  • #8,410
  • Edited 12:47pm Oct 5, 2009 12:33pm | Edited 12:47pm
Quoting mac1956
Ain't finished goin' up yet - bet you wish you'd stayed in!
haha you bet i'm bying it right now but i have to go out and finish for today so i'm planning on taking some pips and just leave. i wont have time to handle this one to the end but i wish you good luck if youre in a poistion or going to open one and see you tomorrow
p.s. i exited for +1... how stupid haha
  • #8,411
  • Oct 5, 2009 12:50pm Oct 5, 2009 12:50pm
Quoting feline207
haha you bet i'm bying it right now but i have to go out and finish for today so i'm planning on taking some pips and just leave. i wont have time to handle this one to the end but i wish you good luck if youre in a poistion or going to open one and see you tomorrow
p.s. i exited for +1... how stupid haha

Ah well - that's one more than you had before! I'm playing away at the moment - but watching the EU. Have a good night.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #8,412
  • Oct 5, 2009 3:00pm Oct 5, 2009 3:00pm
Hi All,

Difficult day early on for me - I found the market slow and I took a few losers. I stuck to my guns with the runner mentatality not taking any more trades until I liked what I saw this came with a triple bottom, so I played the FCR immediately afterwards and actually closed out for a profit on the day.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 2009100502.jpg Size: 137 KB
Survive and Preserve
  • #8,413
  • Oct 5, 2009 3:15pm Oct 5, 2009 3:15pm
Quoting PaulLangham
Hi All,

Difficult day early on for me - I found the market slow and I took a few losers. I stuck to my guns with the runner mentatality not taking any more trades until I liked what I saw this came with a triple bottom, so I played the FCR immediately afterwards and actually closed out for a profit on the day.

nice job big bad Paul L with 50 on one trade.. ya babyyyyyyyy..
runners mentality.. powerfull stuff..
take note boys..
  • #8,414
  • Oct 5, 2009 3:33pm Oct 5, 2009 3:33pm
good Morning.

Sydney has just got further away from NYC, soon I will be able to trade NYC as soon as I wake up. We started DST here today, , its 7:30am and only 16:32pm in NYC. When does NYC turn back the clocks?
Survive and Preserve
  • #8,415
  • Oct 5, 2009 3:58pm Oct 5, 2009 3:58pm
Quoting en0x
good Morning.

Sydney has just got further away from NYC, soon I will be able to trade NYC as soon as I wake up. We started DST here today, , its 7:30am and only 16:32pm in NYC. When does NYC turn back the clocks?
Morning, looks like NY time changes Nov 1st, according to timeanddate.com. Sydney session still starts at what, about 8.45 to 9am, so we can't sleep in with DST. Can't sleep in anyway, kids back at school today.

That was a tough looking session, they needed a lot of patience.

cheers
John
testing the market
  • #8,416
  • Oct 5, 2009 4:14pm Oct 5, 2009 4:14pm
Attached Image (click to enlarge)
Click to Enlarge Name: chart.png Size: 13 KB


Looks like a bracket, starting 4 hrs ago, watching for breakout.

(thinking out aloud): The bracket is 24 pips wide, could also trade the inside range of the bracket, low risk entry short at the top, or long at the bottom of the bracket. But its 'no man's land', after NY close, before Asia open.
testing the market
  • #8,417
  • Oct 5, 2009 4:42pm Oct 5, 2009 4:42pm
Watching the same as you. I am curious to see how AUD rate change in two hours effects our eurusd position.
Blue and orange squares are my pending orders.
Attached Image (click to enlarge)
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Survive and Preserve
  • #8,418
  • Oct 5, 2009 4:43pm Oct 5, 2009 4:43pm
and today we have also....

10:30 AUD
Trade Balance
http://cdn.forexfactory.com/images/m...etail_star.gif

-0.89B -1.56B
http://cdn.forexfactory.com/images/misc/viewchart.gif 13:30 AUD
Cash Rate
http://cdn.forexfactory.com/images/m...etail_star.gif

3.00% 3.00%
http://cdn.forexfactory.com/images/misc/viewchart.gif 13:30 AUD
RBA Rate Statement
http://cdn.forexfactory.com/images/m...etail_star.gif


so it won't go anywhere until we get those figures imo.. cheers,JEAN
  • #8,419
  • Oct 5, 2009 4:50pm Oct 5, 2009 4:50pm
Hi All,

These are my trades:

Trade 1: Long closed after 123 short setup with -13.2 pip loss trying to give room to the trade. I should have closed it at BE playing #2.

Trade 2: Short closed with 5.5 pips profit when failed to go lower playing #1.

Trade 3: Long closed at the other side of the bracket playing #2 with -22.8 pips loss. I should have taken into account the green candle in-between as 123 setup for closing the trade quicker.

Trade 4: Short planning to close playing #2, but then change to #1 and giving room to go lower in order to have a "free trade" before the news release. Stopped (after double bottom and FCR) with 1 pip profit before news release.

After trade 4, I would have changed side and went long right at the close price of trade 4, but I had no more time to trade, so I couldn't babysit the trade. Missed the try for the runner.

Comments are welcome.


Regards.

Attached Image (click to enlarge)
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  • #8,420
  • Oct 5, 2009 5:02pm Oct 5, 2009 5:02pm
Quoting Trader222
Hi All,

These are my trades:

Trade 1: Long closed after 123 short setup with -13.2 pip loss trying to give room to the trade. I should have closed it at BE playing #2.

Trade 2: Short closed with 5.5 pips profit when failed to go lower playing #1.

Trade 3: Long closed at the other side of the bracket playing #2 with -22.8 pips loss. I should have taken into account the green candle in-between as 123 setup for closing the trade quicker.

Trade 4: Short planning to close playing #2, but then change to #1 and giving room to go lower in order...
hi,
i want to make a comment about your trade 3..
(and others to also take note)
is not a set in stone rule that when you play #2 you must end up at BE.. the purpose of this defensive play is to survive with less damage.. now most times you be able to make BE exits but there are times that exiting -10 pips is what you got to do instead of letting your hard sl of 20-25 to be hit.. it your expectancy that should rule here..
just like you mentioned yourself the green candel fail to go higher and the bottom of that is your exit..

great job.. your making vast improvments.. keep it up.

over all nice job
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