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The System II (Yes with irony)

  • #8,441
  • Oct 5, 2009 9:28pm Oct 5, 2009 9:28pm
Right the short was stopped out. The long was entered on the brake of the top of the bracket, currently SL is now at 1.4675 (entry point) which is under FCR . lets see if it continues for the run.
Survive and Preserve
  • #8,442
  • Oct 5, 2009 9:31pm Oct 5, 2009 9:31pm
Eur went 20 pips my way, then pulled back 11, hesitated, then pulled back again, so I took 8 pips. Decided not letting a profit get away from me.

Another view would be: my trailing 20 pip stop was at breakeven, so I couldn't lose, and could have let it run.

Next time might take only half off at 'looming profit destruction', and let the rest ride.
testing the market
  • #8,443
  • Oct 5, 2009 9:42pm Oct 5, 2009 9:42pm
I am on +35 already. lets see how much this thing wants to run.
Quoting John888
Eur went 20 pips my way, then pulled back 11, hesitated, then pulled back again, so I took 8 pips. Decided not letting a profit get away from me.

Another view would be: my trailing 20 pip stop was at breakeven, so I couldn't lose, and could have let it run.

Next time might take only half off at 'looming profit destruction', and let the rest ride.
Survive and Preserve
  • #8,444
  • Oct 5, 2009 9:45pm Oct 5, 2009 9:45pm
Its a runner alright. I'm waiting to get in.

But before I jump in, what about Aussie rate announcement, in 40 minutes?
Quoting en0x
I am on +35 already. lets see how much this thing wants to run.
testing the market
  • #8,445
  • Oct 5, 2009 9:47pm Oct 5, 2009 9:47pm
At risk of actually making this winner into a mediocre +10 pips, i am going to play this properly as much as I can. Waiting for new FCR to form to move my stop. Unless this moves drastically downwards I am holding this long until FCR forms and I watch the move to the HH of that FCR (if that happens)

Phew fast pullback. 40 mins to go to aussie news in case it affects EU anyway what so ever.
Survive and Preserve
  • #8,446
  • Oct 5, 2009 10:12pm Oct 5, 2009 10:12pm
We now have an FCR at 4687. I am stll long , the HH is back at our favourite 1.4700 level (well 4710 to be exact) a major area of Support/resistance. Still long and will see what price does around that level if we approach it again.


Quoting en0x
At risk of actually making this winner into a mediocre +10 pips, i am going to play this properly as much as I can. Waiting for new FCR to form to move my stop. Unless this moves drastically downwards I am holding this long until FCR forms and I watch the move to the HH of that FCR (if that happens)

Phew fast pullback. 40 mins to go to aussie news in case it affects EU anyway what so ever.
Survive and Preserve
  • #8,447
  • Oct 5, 2009 10:15pm Oct 5, 2009 10:15pm
I honestly have no idea if the AUD rate announcement affects EU. I can imagine it would just purely on the USD side of things but how much, I dont know. So I guess we will see. Never traded Asia around AUD rate announcement. Maybe we just trash the news? Time will tell tminus 15 mins. Getting a coke to watch this.
I hope the RBA cane the little twirps who bought too much on leverage with the first home owners grant.
Quoting John888
Its a runner alright. I'm waiting to get in.

But before I jump in, what about Aussie rate announcement, in 40 minutes?
Survive and Preserve
  • #8,448
  • Oct 5, 2009 10:34pm Oct 5, 2009 10:34pm
Rate change was .25% in aussie and pushed the EU over the edge , that was actually a safe play because there was no WAY in hell the RBA would ever drop below 3.00%, so it was either up or stay the same. It affected EU enough to push us to a new HH.

Good stuff, still riding the long +40 at the moment.
Quoting en0x
I honestly have no idea if the AUD rate announcement affects EU. I can imagine it would just purely on the USD side of things but how much, I dont know. So I guess we will see. Never traded Asia around AUD rate announcement. Maybe we just trash the news? Time will tell tminus 15 mins. Getting a coke to watch this.
I hope the RBA cane the little twirps who bought too much on leverage with the first home owners grant.
Survive and Preserve
  • #8,449
  • Oct 5, 2009 10:36pm Oct 5, 2009 10:36pm
I am going to move my SL to +21 to lock in the profits there. and now will follow.

Quoting en0x
Rate change was .25% in aussie and pushed the EU over the edge , that was actually a safe play because there was no WAY in hell the RBA would ever drop below 3.00%, so it was either up or stay the same. It affected EU enough to push us to a new HH.

Good stuff, still riding the long +40 at the moment.
Survive and Preserve
  • #8,450
  • Oct 5, 2009 10:42pm Oct 5, 2009 10:42pm
Quoting en0x
I am going to move my SL to +21 to lock in the profits there. and now will follow.
Good job being in this trade!!

I'm going to read Feb's posts again on re-entering a trade.

cheers
testing the market
  • #8,451
  • Oct 5, 2009 10:48pm Oct 5, 2009 10:48pm
I am trying to figure this out,. I am really bad at riding runners so trying to work hard on it. This whole thing was a run and I ended up taking a short in the middle and losing 17 pips of the run. Would be nicer if I didnt have to go through that and stayed on the run.

Damn nice Asia run, typical, starts slow then builds up a nice steam. We might be at the end here.

When did you reenter?

Quoting John888
Good job being in this trade!!

I'm going to read Feb's posts again on re-entering a trade.

cheers
Survive and Preserve
  • #8,452
  • Oct 5, 2009 10:51pm Oct 5, 2009 10:51pm
Quoting en0x
I am trying to figure this out,. I am really bad at riding runners so trying to work hard on it. This whole thing was a run and I ended up taking a short in the middle and losing 17 pips of the run. Would be nicer if I didnt have to go through that and stayed on the run.

Damn nice Asia run, typical, starts slow then builds up a nice steam. We might be at the end here.

When did you reenter?
I wish!

I didn't reenter, thats why I need to read Feb's post again.
testing the market
  • #8,453
  • Oct 5, 2009 11:12pm Oct 5, 2009 11:12pm
Good Morning all,

enox,
nice job on holding on to the runner.. way to go..
  • #8,454
  • Oct 5, 2009 11:27pm Oct 5, 2009 11:27pm
Good Morning FX,

I am not out of the clear yet, next hurdel is 1.4720 as somone would say Although I have locked in +21 so it feels a little safer. Not sure if that was right thing to do but price did hit +40 and I didn twant to see the runner turn into losing that many pips. Handing back 19 to say, oh well wasnt a runner isnt a big deal but handing back 40 seems for some reason.

Did I play this correctly so far? would there be anything different you would have done so far?
Quoting fxachilies
Good Morning all,

enox,
nice job on holding on to the runner.. way to go..
Survive and Preserve
  • #8,455
  • Oct 5, 2009 11:27pm Oct 5, 2009 11:27pm
new fcr formed at 4697.. nice double top aswell.. I am looking to go short at 97.. ziping on my coffee while waiting for this break..

if i get a failure at the fcr then i will treat this as a bracket.. and some more waiting to see which way it will break finally.
if it breaks for long.. I will take my shot but i be very aggressive on a possible fakeouts.. I will be looking for a strong break anything short of that i will bail..

anyhow this is the waiting time...
  • #8,456
  • Oct 5, 2009 11:33pm Oct 5, 2009 11:33pm
Quoting en0x
Good Morning FX,

I am not out of the clear yet, next hurdel is 1.4720 as somone would say Although I have locked in +21 so it feels a little safer. Not sure if that was right thing to do but price did hit +40 and I didn twant to see the runner turn into losing that many pips. Handing back 19 to say, oh well wasnt a runner isnt a big deal but handing back 40 seems for some reason.

Did I play this correctly so far? would there be anything different you would have done so far?
I could not do anything different... well played so far.. and you should bank minum half of this runner has given you.. so good job with the lock desicion..

however at this point since you got a double top and price is ranging bracket look a like.. I would not mind to bank profit at this point and place two orders.. one on HH and one on 97fcr..
  • #8,457
  • Oct 5, 2009 11:37pm Oct 5, 2009 11:37pm
Okay, I closed out, good idea we currently dont know what price is doing at the moment.

Unfortunatly that is me until tomorrow. I have my mother flying into Sydney tomorrow morning and I promised the wife we would clean up the house and setup her bedroom tonight and she made me promise not to trade tonight. And it looks like its going to be a cracker of an evening

Well I only see my mother once or twice a year so hey . See you guys online tomorrow for another Asia session trade.

Thanks again FX
Quoting fxachilies
I could not do anything different... well played so far.. and you should bank minum half of this runner has given you.. so good job with the lock desicion..

however at this point since you got a double top and price is ranging bracket look a like.. I would not mind to bank profit at this point and place two orders.. one on HH and one on 97fcr..
Survive and Preserve
  • #8,458
  • Oct 5, 2009 11:40pm Oct 5, 2009 11:40pm
Quoting en0x
Okay, I closed out, good idea we currently dont know what price is doing at the moment.

Unfortunatly that is me until tomorrow. I have my mother flying into Sydney tomorrow morning and I promised the wife we would clean up the house and setup her bedroom tonight and she made me promise not to trade tonight. And it looks like its going to be a cracker of an evening

Well I only see my mother once or twice a year so hey . See you guys online tomorrow for another Asia session trade.

Thanks again FX
no problem.. great job and take care..
  • #8,459
  • Oct 5, 2009 11:41pm Oct 5, 2009 11:41pm
Quoting en0x
Okay, I closed out, good idea we currently dont know what price is doing at the moment.

Unfortunatly that is me until tomorrow. I have my mother flying into Sydney tomorrow morning and I promised the wife we would clean up the house and setup her bedroom tonight and she made me promise not to trade tonight. And it looks like its going to be a cracker of an evening

Well I only see my mother once or twice a year so hey . See you guys online tomorrow for another Asia session trade.

Thanks again FX
Catch you tomorrow.
testing the market
  • #8,460
  • Oct 6, 2009 12:14am Oct 6, 2009 12:14am
Quoting en0x
I am on +35 already. lets see how much this thing wants to run.

Way to go enox !!
Survive and Preserve
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