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The System II (Yes with irony)

  • #8,781
  • Oct 9, 2009 10:40am Oct 9, 2009 10:40am
short on this fcr... lets see what happens..
I am going to play this live


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  • #8,782
  • Oct 9, 2009 10:53am Oct 9, 2009 10:53am
Quoting fxachilies
whats your bottom line for the week? if you don't mind me asking..
Hi Fx,

I have no problem at all about the details of my trades, if fact I have posted all of them at the end of each day. I appreciate that you have asked about my trades.

1) Monday: 4 trades (1 hour before London open to 30 minutes before London close). -29.5

2) Tuesday: 5 trades (London open to close). +24.9

3) Wednesday: didn't trade.

4) Thursday: 4 trades (1 hour after London open to 2 hours before London close). -12.3

5) Today: 5 trades (1 hour before London open to 2 hours before London close). +56.6

Total for the week: +39.7 pips

This week I missed some runners because I didn't trade 1 hour before London open to 2 hours after London close, so next week I'm going to try to trade in this hours.

In brief, I was in negative numbers all the week, but today a reverse to +39.7. I'm happy to see the improvement compared to 1 week ago (Monday September 28) in which I had on that day 9 trades with -100.8 pips loss (too many trades and too much loss).

I expect to trade more consistently next week.


Best regards.
  • #8,783
  • Oct 9, 2009 11:35am Oct 9, 2009 11:35am
Quoting Trader222
Hi Fx,

I have no problem at all about the details of my trades, if fact I have posted all of them at the end of each day. I appreciate that you have asked about my trades.

1) Monday: 4 trades (1 hour before London open to 30 minutes before London close). -29.5

2) Tuesday: 5 trades (London open to close). +24.9

3) Wednesday: didn't trade.

4) Thursday: 4 trades (1 hour after London open to 2 hours before London close). -12.3

5) Today: 5 trades (1 hour before London open to 2 hours before London close). +56.6

Total for the week: +39.7...
thank you.

Guys,
there you have it.. a fairly new guy trading the worst week in many months and coming up ahead for +39.. powerfull.. your system II family is proud of you and all the other guys who done so..

if you brokeven this week or got a modest loss.. pad yourself on the back and be greatfull.. take note of this week this is a good one for study to compare with good weeks..

look what market has done for you today though just simply playing beautifully and prefect into our hands.. gotta love it..

I am going to put a stat together of my own trading this weekeend and post it on sunday maybe... but I can asure you that my hit ratio is less than 40%.. and i was pretty much at breakeven up to this beautiful reall runner of the week..
survive and preserve.. .. i survived it for 4 grueling days and killed it on half a day..
  • #8,784
  • Oct 9, 2009 12:09pm Oct 9, 2009 12:09pm
Quoting fxachilies
short on this fcr... lets see what happens..
I am going to play this live


http://cdn.forexfactory.com/images/attach/gif.gif
Are you still in the trade fxachilies?
  • #8,785
  • Oct 9, 2009 1:58pm Oct 9, 2009 1:58pm
Hi,
I have posted my charts and trades of the day.. I started trading couple hrs after London open.. on my first trade I just place my orders and let it be, I was glad to see the tp hit..
the next trade opportunity i sat out due to news (trade balance getts tricky as big guns sometimes play big roll in it so i wanted to take the pull.. didn't happen so I missed opportunity.. oh well)..
the last two trades, text book stuff.. i banked big on the runner..
tough week!!! thank for the late runner, it put me in nice profit for the week..

you notice the BB exits on BB enteries that saves you money and agonies.. and asian session speaks for itself.. i would put a peak at asian session on my agenda for next week.. what can i say, Money never sleeps.. lol..

anyways look at my chart and comapre it to yours find the flaws and strenghts.. don't count pips!!! but rather watch all my horizontal lines where i have correctly drawn them to better recognition of end swings, fcr's, BB.. next to watch is the thick yellow lines as to where the correct exits are due to playing 1&2 and BB exits.. blue shades are correct enteries..

don't forget about your every night "quiet time"!! same goes for weekends.. going over your trades, weekly bottomline, chart study, reading this weeks post once again saving the important one's.. MM study, planing out your load for upcoming week.. and etc.. threat this as a serious business as it is the best business in the world, forget the skeptics and negetivities out there, stay focus and think outside the box.. you all have a chance to run a multi million dollar money making business out of your little laptop from anywhere in the world.. is as simple as i make it sound.. picture it, believe it, it will come.. Ya babyyyyyyyyyyyyy..

I hope it helps and answeres some of your questions inadvance..

have a nice weekend.. i be peaking at the thread and reply to your sound questions..

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  • #8,786
  • Oct 9, 2009 2:17pm Oct 9, 2009 2:17pm
Quoting fxachilies
Hi,
I have posted my charts and trades of the day..


anyways look at my chart and comapre it to yours find the flaws and strenghts.. don't count pips!!! but rather watch all my horizontal lines where i have correctly drawn them to better recognition of end swings, fcr's, BB.. next to watch is the thick yellow lines as to where the correct exits are due to playing 1&2 and BB exits.. blue shades are correct enteries..

http://cdn.forexfactory.com/images/attach/gif.gif
The trade 1 doesnt have an exit (bold yellow) signal....wud it be at the time of a almost V shaped recovery?
  • #8,787
  • Oct 9, 2009 3:44pm Oct 9, 2009 3:44pm
Quoting Trader222
Hi All,

Taking into account my performance during this week, today is a weird day for me because my bottom line was +56.6 (yes, yes, positive 56.6)... lol

Only 5 trades: 2 fakeouts, 2 runners, and 1 ping pong.

Comments are welcome.


Regards.

Attachment
Hi Trader222,

I want to say that you have done amazing well this week. That trade number 2 is an an absolutely brilliant call, with great RR and see how it paid dividends for you.

Well done to you
Survive and Preserve
  • #8,788
  • Oct 9, 2009 3:47pm Oct 9, 2009 3:47pm
Quoting fxachilies
Hi,
I have posted my charts and trades of the day.. I started trading couple hrs after London open.. on my first trade I just place my orders and let it be, I was glad to see the tp hit..
the next trade opportunity i sat out due to news (trade balance getts tricky as big guns sometimes play big roll in it so i wanted to take the pull.. didn't happen so I missed opportunity.. oh well)..
the last two trades, text book stuff.. i banked big on the runner..
tough week!!! thank for the late runner, it put me in nice profit for the week..

you notice...
Hey FX,

Nice trading bro`

I want to say a big thank you to you for everything you do as always, but particularly so this week, which I think we all agree was not an easy one.

But at least we all finished looking good . Thanks
Survive and Preserve
  • #8,789
  • Oct 9, 2009 3:50pm Oct 9, 2009 3:50pm
Hi All,

Here are my trades.

I was very cautious early on, which is unusal for me, so much so that I only entered my first trade well into the first upswing - I got lucky with the result. I am sure this hesitation was due to not such good results this week.

The second trade was easier as we got away from entry price quickly. PIty was I could not trade the rest of the day after this.

Thanks to all for another great week, of exchanges and support.
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Survive and Preserve
  • #8,790
  • Oct 9, 2009 4:44pm Oct 9, 2009 4:44pm
Just want to double check, BB is Bracket break???

"but rather watch all my horizontal lines where i have correctly drawn them to better recognition of end swings, fcr's, BB.. "





Quoting fxachilies
Hi,
I have posted my charts and trades of the day.. I started trading couple hrs after London open.. on my first trade I just place my orders and let it be, I was glad to see the tp hit..
the next trade opportunity i sat out due to news (trade balance getts tricky as big guns sometimes play big roll in it so i wanted to take the pull.. didn't happen so I missed opportunity.. oh well)..
the last two trades, text book stuff.. i banked big on the runner..
tough week!!! thank for the late runner, it put me in nice profit for the week..

you notice...
  • #8,791
  • Oct 9, 2009 5:33pm Oct 9, 2009 5:33pm
Quoting tptrading
Just want to double check, BB is Bracket break???

"but rather watch all my horizontal lines where i have correctly drawn them to better recognition of end swings, fcr's, BB.. "

Bracket breakout - dead right!
$urvive, Pre$erve & RESPECT THE TEACHER
  • #8,792
  • Oct 9, 2009 7:00pm Oct 9, 2009 7:00pm
Your trade chart is a thing of beauty. It shows all the trade entries and exits in a single day. Example: First trade is a clasic #1 Bracket Breakout During that run there where several # 2 Continuation trades. The market threw in a couple of #1 BB head fakes and you showed how to handle them. The last 2 trades of the day were superb FCR's. I have printed this day out just because it so clearly demonstrates what to look for.
I make money anywhere in the world by taking orders
  • #8,793
  • Oct 10, 2009 1:09am Oct 10, 2009 1:09am
Hi Fx ...what a great post ...tks for sharing .
I have one q .
On trades 3+4 ,I see very clear how did you exit as soon price entered & closed back into the bracket .(BB exit)
On trade #7 ,it's a different story . It's a fcr , so I don't understand how did you manage to stay on this trade and not have played #2 or a defensive move not to lose more that 10 pips . At that time it looked as a fakeout with 2 candles closing bellow the fcr and the 2nd one very solid .
May be the triple bottom helped you to stay with the trade as you expectancy was an upward move ?
Do you always wait for the price to "finish" a retracement and see how price reacts from there ?
At that time , if you triggered around 38 , you were - 14 pips .
Hard SL was around 30 pips.
Thanks
david4u


Quoting fxachilies
you notice the BB exits on BB enteries that saves you money and agonies.. and asian session speaks for itself

anyways look at my chart and comapre it to yours find the flaws and strenghts.. don't count pips!!! but rather watch all my horizontal lines where i have correctly drawn them to better recognition of end swings, fcr's, BB.. next to watch is the thick yellow lines as to where the correct exits are due to playing 1&2 and BB exits.. blue shades are correct enteries..


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  • #8,794
  • Oct 10, 2009 9:18am Oct 10, 2009 9:18am
Quoting david4u
Hi Fx ...what a great post ...tks for sharing .
I have one q .
On trades 3+4 ,I see very clear how did you exit as soon price entered & closed back into the bracket .(BB exit)
On trade #7 ,it's a different story . It's a fcr , so I don't understand how did you manage to stay on this trade and not have played #2 or a defensive move not to lose more that 10 pips . At that time it looked as a fakeout with 2 candles closing bellow the fcr and the 2nd one very solid .
May be the triple bottom helped you to stay with the trade as you expectancy was an...
Hi David,

I'm not Fxachilies, and for sure he is gonna answer you better, but I'm gonna try to give you my point of view in this move....

It is supposed Fx has entered into a FCR breakout (green line), as soon as entry was triggered, price retraces showing the fakeout, so then, #2 (surviving) is in mind...
To play #2 you are gonna try to get a BE or lose the less as possible...
You wait for the retrace to unfold completely (getting a new FCR to trail your SL below) and see what happens when price faces HH to get you BE exit, being aggresive to close if price fails...
In this case, the big green candle after the retrace, is telling you there are speed and rythm enough to leave the trade open, and if you realize, the deal has become into a 123 setup.....

Only an opinion mate,
Hope it helps David...
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  • #8,795
  • Oct 10, 2009 2:06pm Oct 10, 2009 2:06pm
Quoting david4u
Hi Fx ...what a great post ...tks for sharing .
I have one q .
On trades 3+4 ,I see very clear how did you exit as soon price entered & closed back into the bracket .(BB exit)
On trade #7 ,it's a different story . It's a fcr , so I don't understand how did you manage to stay on this trade and not have played #2 or a defensive move not to lose more that 10 pips . At that time it looked as a fakeout with 2 candles closing bellow the fcr and the 2nd one very solid .
May be the triple bottom helped you to stay with the trade as you expectancy was an...
Hi Dave,
great observation.. I got questions for your..
was my entery based on fcr or BB?
if it was based on fcr.. what should be my exit defensive play?
if it was based on BB.. what should be my exit defensive play?

it think if you come up with the correct replies to my questions that it should clearly answer your question..

Thank you..
  • #8,796
  • Oct 10, 2009 2:38pm Oct 10, 2009 2:38pm
PaulL & Sedonapipper,
Thank you for your kind words..

ag fx,
we don't care about V shapes for exits but to rather stick to our designated exits plans.. in that run on the second long retrace there could be a exit and reentery on price countinuation or simply let the trade be since it never gets you into loss coulum.. good abservation though.. keep up the good work i can see that you are working hard by finishing reading the full thread and staying current.. nice job.

tptrading,
Mac already gave you the correct answer.. yes BB stands for Bracket Breakout..
  • #8,797
  • Oct 10, 2009 4:02pm Oct 10, 2009 4:02pm
Hello to all,

I would like to congratulate all of you who survived a very difficult week for all of us...If you remain committed to the exit plan(#1/#2) laid out by Fx, I salute you... This is an easy thing to talk about but quite a challenge when you are actually dealing with price action. As far as entries and exits are concerned we may at times, when exercising our discretion, especially those who are more experienced, enter or exit a trade that you may find questionable. You may ask yourself...was that an FCR or price stalling for a short time and if so, then was it a bracket? Why did he/she exit there?...and so on... I read so many posts where the questioner is seeking for an answer, a security blanket of sorts that they will then proceed to rely on in the future.....that is a risky thing to do. And in the process, we get so caught up in naming a thing, that we stop looking at it.. In other words we get so caught up in some label like FCR or BB etc... that we dismiss what is really the most important thing...an awareness of price action. One needs to, at some point in our trading, to stop asking others why they did what they did and ask ourselves why we did what we did... To use Paul L. sports analogy...would you ask Michael Jordan why he stopped at that particular spot on the court, pivot to his left then to his right and finally performed a reverse layup? I guess you could but how is that going to really help you when the ball is in your hands? Of course we need to ask questions specially at the beginning but sooner or later you need to find the answers out by looking within you.

Okay, so this is my sermon for the week... May we all continue to learn and prosper.

Have a great week of trading.
Unus pro omnibus, omnes pro uno
  • #8,798
  • Oct 10, 2009 4:18pm Oct 10, 2009 4:18pm
Hi to systemII rock familie,
Fxachilies,you have big pasion keep this thread in the right way.Feb give to this method soul and you fight for it all the time.I love you guys this is not just method,this is really like familie.If someone has bad day others just stay with him and try help him.I like it because here is not stone rules or manual but freestyle,you just need use your head and not trade like robot.This week was really hard,but I do not give up I didn,t say this is not working,becaause it is not system and some kind of boring stupid manual.So Paul L.and other guys I am staying with you .I am just registered but I am with you a few months already.After this bad week you have new member because this is right way and anyway good fun.
  • #8,799
  • Oct 11, 2009 5:12am Oct 11, 2009 5:12am
Quoting kravmaga
Hi to systemII rock familie,
Fxachilies,you have big pasion keep this thread in the right way.Feb give to this method soul and you fight for it all the time.I love you guys this is not just method,this is really like familie.If someone has bad day others just stay with him and try help him.I like it because here is not stone rules or manual but freestyle,you just need use your head and not trade like robot.This week was really hard,but I do not give up I didn,t say this is not working,becaause it is not system and some kind of boring stupid manual.So...
Hi Kravmaga,

Thanks for your kind words, you are right that all on here, be it the kings and experts like Feb, Fx, Modena, Jplo, Macdaddy or all the others is here to help. Cos when you help someone you learn yourself, things become clearer, this is my own personal exeprience in life. What goes round comes round etc etc.....

Welcome and let`s get ready to take those pips out of the market again
Survive and Preserve
  • #8,800
  • Oct 11, 2009 2:15pm Oct 11, 2009 2:15pm
Quoting PaulLangham
Hi Trader222,

I want to say that you have done amazing well this week. That trade number 2 is an an absolutely brilliant call, with great RR and see how it paid dividends for you.

Well done to you
Hi Paul,

Thanks for your comments. My performance this week was in part due to what you told me about being more aggressive with my entries, so in part they are also your merit.


Regards.
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