The System II (Yes with irony) | Page 438 | Forex Factory

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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)

  • #8,741
  • Oct 8, 2009 7:15pm Oct 8, 2009 7:15pm
Quoting PaulLangham
Hi Here are my trades

Trade 1 - Held a little too long, I have been exerimenting with these which probably the wrong thing to do. Instinctively I normally like to cut very quickly at BE or say -5 max, this one was given more space

Trade 2 - OK, split the exit as I fancied it might break the top, it didnt but I collected nicely

Stayed out the rest of the London session

Trade 3 - After the news. Took the short once it broke teh first low and exited in the normal way
Hi Paul,

Today, I couldn't make any pip during London to two hours after NY open (in fact I lost 12.3 pips), but before and after this period it was (imho) profitable.

Why did you stay out of the London session? What was your rationale to stay out of the non-profitable period?
  • #8,742
  • Oct 8, 2009 7:22pm Oct 8, 2009 7:22pm
Hi guys, i just read through the first 700 posts in the last day just wanted to know what FCR means? I plan on following closely and joining the group. So for now, Good trading to all.
MY GRID. Markets are NOT random.
  • #8,743
  • Oct 8, 2009 7:54pm Oct 8, 2009 7:54pm
Quoting tonyb123
Hi guys, i just read through the first 700 posts in the last day just wanted to know what FCR means? I plan on following closely and joining the group. So for now, Good trading to all.
welcome - to answer your question FCR means F***** Crazy Reversal and is the core of this trading method. Look at post 3420. In truth learning how to trade them effectively takes time, patience and practice. I suggest you follow this thread for a week and study the charts members post. When you get to the point of seeing them in the moment of market action, then begin the actual process of trading them. Before trading them though, I strongly suggest mastering the basic 123 breakout trade and finish reading the thread. Its long and can get tiresome at times, but the gold is in the pages and between the ears. Most of the good posts in this thread deal with the mind and not the entries and exits.
I make money anywhere in the world by taking orders
  • #8,744
  • Oct 8, 2009 11:41pm Oct 8, 2009 11:41pm
well after my computer crashing I have had to re-register.
But any way back on board again after a long week sorting out my computer.

long 732 from FCR break at 727
  • #8,745
  • Oct 9, 2009 12:55am Oct 9, 2009 12:55am
Morning all,

wow, I see the Asian session and I say... man, runners are back!

Hopefully we will have a few more in the European session. But I am afraid we have entered into a stalling period after that bear's dance...
  • #8,746
  • Oct 9, 2009 1:07am Oct 9, 2009 1:07am
Quoting elizo
Morning all,

wow, I see the Asian session and I say... man, runners are back!

Hopefully we will have a few more in the European session. But I am afraid we have entered into a stalling period after that bear's dance...
Morning,

Still have "EUR ECB President Trichet Speaks" to look forward to in just over 3 hrs, seeing as Bernanke coincided with big drop in Eur today.
testing the market
  • #8,747
  • Oct 9, 2009 1:09am Oct 9, 2009 1:09am
Good morning guys,

Ready to test that thing till it was exhausted of being tested....

Let's see if it has something to give today....
  • #8,748
  • Oct 9, 2009 1:18am Oct 9, 2009 1:18am
Morning from the UK.
I'm short from 4713 and playing a #2

Unless the price hits that low like a train I'm getting out as close to BE as poss.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #8,749
  • Oct 9, 2009 1:25am Oct 9, 2009 1:25am
Quoting mac1956
Morning from the UK.
I'm short from 4713 and playing a #2
Hi Mac,

You really have to be careful with continuations.....
And especially when price has move 100 pips straight down before....
This is one of the cases to play the "BB exit" that "The boss" has introduced yesterday....

Only an opinion mate,
  • #8,750
  • Oct 9, 2009 1:30am Oct 9, 2009 1:30am
Quoting jplo
Hi Mac,

You really have to be careful with continuations.....
And especially when price has move 100 pips straight down before....
This is one of the cases to play the "BB exit" that "The boss" has introduced yesterday....

Only an opinion mate,
Dead right - managed it all day yesterday...we pay for our failures don't we?! I've widened my Sl to 39 above the high bracket at just to leave room for a bounce back.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #8,751
  • Oct 9, 2009 1:38am Oct 9, 2009 1:38am
Hi

Ready to go - lets go get 'em pips boys....

Currently flat - waiing for next opportunity
Survive and Preserve
  • #8,752
  • Oct 9, 2009 1:39am Oct 9, 2009 1:39am
Quoting mac1956
Dead right - managed it all day yesterday...we pay for our failures don't we?! I've widened my Sl to 39 above the high bracket at just to leave room for a bounce back.
Hate to bother you while your trade is against you like this. For my growth to be in control - what emotional state where you in when you widened your stop loss?
I make money anywhere in the world by taking orders
  • #8,753
  • Oct 9, 2009 1:40am Oct 9, 2009 1:40am
Quoting Trader222
Hi Paul,

Today, I couldn't make any pip during London to two hours after NY open (in fact I lost 12.3 pips), but before and after this period it was (imho) profitable.

Why did you stay out of the London session? What was your rationale to stay out of the non-profitable period?

Hi Trader222

I did a couple of trades and just felt I didn't like the PA, slow again, like for a lot of this week. Knowing those numbers were coming I decdied to sit on my hands. of course it worked this time, but previously I have done this and there have been good moves I missed pre the new annoucment.

Hope this helps.
Survive and Preserve
  • #8,754
  • Oct 9, 2009 1:44am Oct 9, 2009 1:44am
Long @ 4741 on the Bracket Breakout...

Let's see if it has some juice...
  • #8,755
  • Oct 9, 2009 1:46am Oct 9, 2009 1:46am
Quoting Trader222
Hi Everyone,

Here are my end of day trades.

Any piece of advice is welcome.


Regards.

Attachment
Hi Trader 222,

I will let the master himself Mr FX give you his feed abck and comment son the trades, but all I would say is that if you were more aggressive about some of the entries you would have made more money. For example trades 1 and 2, there are smaller, but nevertheless evident FCRs higher up for trade 1 and lower down for trade 2, which for me at least would have given you better trade positioning , allowing you to be more in control fo the trade.

Lets see what FX says about that.

Hope this helps.
Survive and Preserve
  • #8,756
  • Edited 2:13am Oct 9, 2009 1:48am | Edited 2:13am
Quoting SedonaPipper
Hate to bother you while your trade is against you like this. For my growth to be in control - what emotional state where you in when you widened your stop loss?

Calm and considered old chap - the upper bracket had been tested 8 times and failed so it might just have held. Unluckily it didn't this time. The mistake was to get suckered into the trade at the LL and not get out sooner as Jplo pointed out - BB exit. Not living up to the team motto!!! I rushed into it as I had just got to the computer this morning. Bad start to the day - but we pay for our mistakes -and they are the best lessons I guess.

Don't get me wrong - I hated the loss - but I'll get it back later by sensible trading.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #8,757
  • Oct 9, 2009 1:57am Oct 9, 2009 1:57am
Another nice opportunity for a BB exit....

Preserve....
  • #8,758
  • Oct 9, 2009 2:09am Oct 9, 2009 2:09am
Quoting jplo
Another nice opportunity for a BB exit....

Preserve....
Yeh! You are right!

Two times in a row I did exit "BB exit" ... And this was right... In both cases there was no #2 i think...
  • #8,759
  • Oct 9, 2009 2:51am Oct 9, 2009 2:51am
Quoting dim4ik42
Yeh! You are right!

Two times in a row I did exit "BB exit" ... And this was right... In both cases there was no #2 i think...

Riding the button now - taken two BB exits for +2 now. It's possible to test and come out ahead! Gotta RIDE THAT BUTTON
$urvive, Pre$erve & RESPECT THE TEACHER
  • #8,760
  • Oct 9, 2009 3:14am Oct 9, 2009 3:14am
Quoting dim4ik42
Yeh! You are right!

Two times in a row I did exit "BB exit" ... And this was right... In both cases there was no #2 i think...
That exit is amazing as everyting Fx aport us....

All the small losses and more will be totally overcome when we get a runner....
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