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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)

  • #8,621
  • Oct 7, 2009 1:53am Oct 7, 2009 1:53am
Quoting andrewb7
afternoon guys , i m also long at 06

Morning all from the UK - Fx been taking my name in vain already - lol -
Andrew - how did you get in at 06? My order was at 10. Did you take the high (4702) after the first touch of that double bottom at 4692?
$urvive, Pre$erve & RESPECT THE TEACHER
  • #8,622
  • Oct 7, 2009 1:54am Oct 7, 2009 1:54am
out for +17

Too strong retrace after hitting the HH...
  • #8,623
  • Oct 7, 2009 2:04am Oct 7, 2009 2:04am
Quoting mac1956
Morning all from the UK - Fx been taking my name in vain already - lol -
Andrew - how did you get in at 06? My order was at 10. Did you take the high (4702) after the first touch of that double bottom at 4692?
hey mac my fcr was 4701 so +3pips + spread entry 4706
Survive & Preserve
  • #8,624
  • Oct 7, 2009 2:12am Oct 7, 2009 2:12am
Quoting andrewb7
hey mac my fcr was 4701 so +3pips + spread entry 4706
Forgive me for asking you to clarify - I think there are differences in the levels between charting programmes so here is my chart. I just want to make sure I have the best entry point for my own learning. I coloured the high that I think you took as you FCR part 2 with the pink line - I waited for the next one (red line). Have I got the plot? I think I could have been a bit more aggressive with my entry.

Attached Image (click to enlarge)
Click to Enlarge Name: Chart 1 9th.gif Size: 19 KB
$urvive, Pre$erve & RESPECT THE TEACHER
  • #8,625
  • Oct 7, 2009 2:17am Oct 7, 2009 2:17am
yeah mac i got on where ur pink line is
cheers andrew
Survive & Preserve
  • #8,626
  • Oct 7, 2009 2:22am Oct 7, 2009 2:22am
Quoting mac1956
Forgive me for asking you to clarify - I think there are differences in the levels between charting programmes so here is my chart. I just want to make sure I have the best entry point for my own learning. I coloured the high that I think you took as you FCR part 2 with the pink line - I waited for the next one (red line). Have I got the plot? I think I could have been a bit more aggressive with my entry.

Attachment
Hi Mac,
I personally took the first FCR @ 4701 for setting my entry....

After that first entry price made that nice DB, but you never knows what could have happened, so price could have broken strongly the 1st FCR wihtout looking back... Because of that IMHO, you should have set your order after noticing the first one...


  • #8,627
  • Oct 7, 2009 2:28am Oct 7, 2009 2:28am
Quoting andrewb7
yeah mac i got on where ur pink line is
cheers andrew
Excellent thank you.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #8,628
  • Oct 7, 2009 2:30am Oct 7, 2009 2:30am
Quoting jplo
Hi Mac,
I personally took the first FCR @ 4701 for setting my entry....

After that first entry price made that nice DB, but you never knows what could have happened, so price could have broken strongly the 1st FCR wihtout looking back... Because of that IMHO, you should have set your order after noticing the first one...



You're right. I did notice it, but because it pulled back as far as it did I discounted it and waited for the next one. But actually it makes sense that it really reinforced it. More subtle tools in the toolkit. Thanks I appreciate your help.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #8,629
  • Oct 7, 2009 2:56am Oct 7, 2009 2:56am
so no one has taken any of the short fcr's?...........hmmmm!
  • #8,630
  • Oct 7, 2009 2:59am Oct 7, 2009 2:59am
Quoting FOURX
so no one has taken any of the short fcr's?...........hmmmm!

I did - 14705 and sat out the retracement - which was greater by far than 50%. Thankfully it gave me a chance to exit +4.
Now long at 14729 and aware of the previous high at 14736. I'm gonna get out if it rebounds any further. Out +2 - don't like the look of this retrace.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #8,631
  • Oct 7, 2009 3:07am Oct 7, 2009 3:07am
Quoting mac1956
I did - 14705 and sat out the retracement - which was greater by far than 50%. Thankfully it gave me a chance to exit +4.
Now long at 14729 and aware of the previous high at 14736. I'm gonna get out if it rebounds any further.
Also Long 29
Survive and Preserve
  • #8,632
  • Oct 7, 2009 3:09am Oct 7, 2009 3:09am
Quoting FOURX
so no one has taken any of the short fcr's?...........hmmmm!
sure i did skippy..
hmmmmmmmmmmm.. and your point?
  • #8,633
  • Oct 7, 2009 3:14am Oct 7, 2009 3:14am
Quoting mac1956
I did - 14705 and sat out the retracement - which was greater by far than 50%. Thankfully it gave me a chance to exit +4.
Now long at 14729 and aware of the previous high at 14736. I'm gonna get out if it rebounds any further. Out +2 - don't like the look of this retrace.
Nice trading Macdaddy.. super..

maybe some of the doubters can take a note..
  • #8,634
  • Oct 7, 2009 3:24am Oct 7, 2009 3:24am
i bailed on the long trade as it failed again to break the 4735 ish area.
waiting for the next bus
Survive & Preserve
  • #8,635
  • Oct 7, 2009 3:27am Oct 7, 2009 3:27am
Quoting andrewb7
i bailed on the long trade as it failed again to break the 4735 ish area.
waiting for the next bus
I gave it some time and came out at BE
Survive and Preserve
  • #8,636
  • Oct 7, 2009 3:43am Oct 7, 2009 3:43am
Quoting PaulLangham
I gave it some time and came out at BE

nice play Paul..

guys take notes....
we take out shots and we play our survive & preserve game.. no time to doubt.. just simply go to work and concetrate..

enter.. to fill job discription.. no.. ok.. survive.. or preserve..
wash rinse repeat.. ya babyyyyyyyyy

this is system II family... either your with us and on you way to be star or your not..

make your choice.. and stick with it
  • #8,637
  • Oct 7, 2009 3:48am Oct 7, 2009 3:48am
Quoting PaulLangham
I gave it some time and came out at BE
i didnt bail first up , i waited until after the pullback the it failed at the top again so i bailed then. i think i played it right. is that what u did then paul??
cheers andrew
Survive & Preserve
  • #8,638
  • Oct 7, 2009 3:57am Oct 7, 2009 3:57am
guys i have taken 5 shots so far.. proud to say i am 1-4.. my hit ratio sucks... my up to date bottomline is +12..

its magic..

the lower you hit ratio the higher probability to catch more runners..
I know.. way way outside the boxxxxx..
  • #8,639
  • Oct 7, 2009 4:00am Oct 7, 2009 4:00am
Quoting andrewb7
i didnt bail first up , i waited until after the pullback the it failed at the top again so i bailed then. i think i played it right. is that what u did then paul??
cheers andrew

I did something a bit stupid actually - I bailed for +2 and when the price came back I thought it might just have another go at the HH so I re-entered using the same fcr at the same price. When it failed I bailed again for a +2.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #8,640
  • Oct 7, 2009 4:08am Oct 7, 2009 4:08am
Quoting mac1956
I did something a bit stupid actually - I bailed for +2 and when the price came back I thought it might just have another go at the HH so I re-entered using the same fcr at the same price. When it failed I bailed again for a +2.
thats +4 there mate better than nothing hey
Survive & Preserve
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