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The System II (Yes with irony)

  • #8,881
  • Oct 12, 2009 5:21am Oct 12, 2009 5:21am
Quoting fxachilies
you must pass thought the first hurdel before even thinking about banking..
it this case either you end up at break even or you hold your ground and play a solid #1's..


http://cdn.forexfactory.com/images/attach/gif.gif
The master said it again - live - for everyone to see. Look at the result, way to go FX

I'm still holding
Survive and Preserve
  • #8,882
  • Oct 12, 2009 5:23am Oct 12, 2009 5:23am
[quote=mac1956;3137940]
Quoting fxachilies

I took +31 long on the reverse swing and then exited - then I used your re-entry strategy for this continuation and took out another +17 when it hit 60 and retraced. Could've held on - maybe even should've, but the result is good and I can perfect it in time. NICE ONE Fx!!!!! I can't believe I'm up +71 for the day!!!!!!!!
yea nice going Mac
Survive and Preserve
  • #8,883
  • Oct 12, 2009 5:29am Oct 12, 2009 5:29am
Something became clear to me over last week about anxious trading ... it may or may not be useful to anyone else, but I'll share it anyway.

When I started working with you guyz and learning from the Jedi Master, I had two contradictory fears:- 1) Fear of missing out - so I was triggering trades too early, or too late, or in no man's land, and 2) Fear of losing - no expectancy, no patience, no confidence that the best set-ups will occur again and again.

My fear of missing out caused a 'hurry up' mentality and got me trapped in losing trades which left me missing out - unavailable for the good 123 set ups and fcr’s, and it increased my losses which increased my fear of losing. My fear of losing increased my fear of missing out and vice versa.

Arrrggghhhh. Vicious cycle - end product = shrinking bank, high stress levels, bruised cat (not really) – and when the -23 pip losses came the little voice would start up “it might work for them but it can’t work for me”. The runners I was catching were barely paying me back for my losses.

LAst week I got free of that vicious cycle and even on a couple of difficult days it all looked clearer. I am now trusting the tools more often and bailing out of test entries that turn fast but ready to get back onto the next bus or, more importantly WAIT – that is what time has taught me. Trust the tools, don’t settle for big/medium losses when there are tools to protect you from them. Manage profits sensibly - #1 or let it run.

There are powerful tools and it takes a while to both trust them and to prove that they work. The BB exit, the test entry, the gap between HH or LL and +3 and spread, are all tools that get you in for the runner possibility and out with minimal losses when it rebounds, then if it gets too hot there's the #2. Then when it does go sour it's the exception not the rule.
Learning this is like a jig saw puzzle – eventually when enough pieces are in place the picture becomes clear. Genius method this...

Feb and Fx - you rock...
$urvive, Pre$erve & RESPECT THE TEACHER
  • #8,884
  • Oct 12, 2009 5:40am Oct 12, 2009 5:40am
great post mac, keep up the good work.
cheers andrew
Survive & Preserve
  • #8,885
  • Oct 12, 2009 5:43am Oct 12, 2009 5:43am
Quoting mac1956
Something became clear to me over last week about anxious trading ... it may or may not be useful to anyone else, but I'll share it anyway.

When I started working with you guyz and learning from the Jedi Master, I had two contradictory fears:- 1) Fear of missing out - so I was triggering trades too early, or too late, or in no man's land, and 2) Fear of losing - no expectancy, no patience, no confidence that the best set-ups will occur again and again.

[color=black][font=Verdana]My...
Great post MC...

Little by little and step by step, we are all improving a lot, and absorbing every tool that Fx and Feb bring us to succeed....
  • #8,886
  • Oct 12, 2009 5:44am Oct 12, 2009 5:44am
[quote=mac1956;3137940]
Quoting fxachilies

I took +31 long on the reverse swing and then exited - then I used your re-entry strategy for this continuation and took out another +17 when it hit 60 and retraced. Could've held on - maybe even should've, but the result is good and I can perfect it in time. NICE ONE Fx!!!!! I can't believe I'm up +71 for the day!!!!!!!!
very nice Mac.. Macdaddy in da Houseeeeeeee..

guys,
once you develop the right discipline, not falling inlove with your trade, droping all your expectaions, stay felixible, stick to your plan and stay alert the whole time.. then you can make a lot of money from 5m charts decent moves by keep testing the market..
My hit ratio is always less than 50%.. most times around 40%.. and i make alot of money.. at 30% stil make some money or at worst lose a little.. but if it jumpes to just 60% like today (which for most people is a shitty hit ratio) I kick major ass..
today so far I am 3-2 = 60% = +65 in the bank...

Jplo,
great point about sup/res..
they are history and irrelavent to what we do here.. as witness today, two of days high resistants got crushed bigtime.. we just keep them in the backburner

Dim,
I appoligize.. i forgot.. what i remember from that post was that you had to questions, that you took out couple of mine and feb's frazes.. and i want to advise you to 1st of all don't pay toomuch attention to details it will lead you to second guessing and that is not good for trading.. rather stay felixible and don't worship anything you hear/read or see.. there are no clear cut answeres.. the day you stop looking for them is the day that your will enjory more success..
I hope it helps brother..


ok.. by the way i tested the countinuation and passed my first hurdel.. looking good..
but for those of you who are holding still from the the first fcr 4697.. and did what Macddady did right there BRAVO to you.. you d man.. lol
  • #8,887
  • Oct 12, 2009 5:44am Oct 12, 2009 5:44am
Thanks Mac, awesome post
Quoting mac1956
Something became clear to me over last week about anxious trading ... it may or may not be useful to anyone else, but I'll share it anyway.

When I started working with you guyz and learning from the Jedi Master, I had two contradictory fears:- 1) Fear of missing out - so I was triggering trades too early, or too late, or in no man's land, and 2) Fear of losing - no expectancy, no patience, no confidence that the best set-ups will occur again and again.

[color=black][font=Verdana]My...
Survive and Preserve
  • #8,888
  • Oct 12, 2009 5:47am Oct 12, 2009 5:47am
Good night, that's a long enough day for me, and a nice 61 pip move to finish off.

Thanks to all for a great thread, and the patience and generosity of Fx.
testing the market
  • #8,889
  • Oct 12, 2009 5:47am Oct 12, 2009 5:47am
Quoting mac1956
Something became clear to me over last week about anxious trading ... it may or may not be useful to anyone else, but I'll share it anyway. .
Excellent post Mac. I am a week or three behind you on the anxious curve. Runners like this do wonders for your confidence.
"Save your ass, then go for profit"
  • #8,890
  • Oct 12, 2009 5:49am Oct 12, 2009 5:49am
You still awake there John?
Lets see if Asia gives us some more fun tomorrow. This time things wont be crazy for me I hope so I can ride it with you
Got to take these guys out and keep the pips to ourselves
Quoting John888
Good night, that's a long enough day for me, and a nice 61 pip move to finish off.

Thanks to all for a great thread, and the patience and generosity of Fx.
Survive and Preserve
  • #8,891
  • Oct 12, 2009 5:54am Oct 12, 2009 5:54am
Quoting PaulLangham
The master said it again - live - for everyone to see. Look at the result, way to go FX

I'm still holding
thank you..
nice job Paul with being in the trade still..
guys be prepared at end of the day when Sir.Paul posts his trades to see another 100+ runner trade.. BAMMMMMMMMMMMM
are you gonna be the next Paul.. Jplo.. Macdaddy.. damn right you can be.. I have no doubt... but, ball is in your court.. you got more liveing proofs besides me now to boost your confidence and choose the right path and develop that killer instinct..

nice job everyone.. we got a different week in our hand... lets go for more kill...
  • #8,892
  • Oct 12, 2009 6:00am Oct 12, 2009 6:00am
Quoting Paul M
Excellent post Mac. I am a week or three behind you on the anxious curve. Runners like this do wonders for your confidence.

No doubt I'll be revisiting it from time to time! EArly days still.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #8,893
  • Oct 12, 2009 6:05am Oct 12, 2009 6:05am
I am out +65. I will celebrate with an early night. Good luck all with the New York session
"Save your ass, then go for profit"
  • #8,894
  • Oct 12, 2009 6:06am Oct 12, 2009 6:06am
Quoting fxachilies


Dim,
I appoligize.. i forgot.. what i remember from that post was that you had to questions, that you took out couple of mine and feb's frazes.. and i want to advise you to 1st of all don't pay toomuch attention to details it will lead you to second guessing and that is not good for trading.. rather stay felixible and don't worship anything you hear/read or see.. there are no clear cut answeres.. the day you stop looking for them is the day that your will enjory more success..
I hope it helps brother..


Ok!!!! It's clear for me,,,, Thanks! We have very good trading day today!!!

Good luck to all!!!
  • #8,895
  • Oct 12, 2009 6:19am Oct 12, 2009 6:19am
Quoting mac1956
Something became clear to me over last week about anxious trading ... it may or may not be useful to anyone else, but I'll share it anyway.

When I started working with you guyz and learning from the Jedi Master, I had two contradictory fears:- 1) Fear of missing out - so I was triggering trades too early, or too late, or in no man's land, and 2) Fear of losing - no expectancy, no patience, no confidence that the best set-ups will occur again and again.

[color=black][font=Verdana]My...
I just read Mac's post..
if you guys could only knew how happy it make me the see that.. you are a inspiration to all including myself in different ways..
maybe someday i tell in person Macdaddy .. of course when we are celebrating in your yaght of the cost of london with the rest of the gang..
cheers to that day..
  • #8,896
  • Oct 12, 2009 6:25am Oct 12, 2009 6:25am
Quoting mac1956
Something became clear to me over last week about anxious trading ... it may or may not be useful to anyone else, but I'll share it anyway.

When I started working with you guyz and learning from the Jedi Master, I had two contradictory fears:- 1) Fear of missing out - so I was triggering trades too early, or too late, or in no man's land, and 2) Fear of losing - no expectancy, no patience, no confidence that the best set-ups will occur again and again.

[color=black][font=Verdana]My...

Hey Daddy-O,

That's what I am talking about!.. looking within..dealing with the struggle...sticking to the plan...introspection.... The thread points to the door...but you still have to walk through it on your own.. It is the only way..

Unus pro omnibus, omnes pro uno
  • #8,897
  • Oct 12, 2009 6:35am Oct 12, 2009 6:35am
Quoting fxachilies
I just read Mac's post..
if you guys could only knew how happy it make me the see that.. you are a inspiration to all including myself in different ways..
maybe someday i tell in person Macdaddy .. of course when we are celebrating in your yaght of the cost of london with the rest of the gang..
cheers to that day..

Awwww, shucks....
We should all have a conference somewhere one day - mind you I doubt any of us could tear ourselves away from markets for long enough LOL!!! Might miss a runner... ----I get the shakes just thinking about it!
$urvive, Pre$erve & RESPECT THE TEACHER
  • #8,898
  • Oct 12, 2009 6:37am Oct 12, 2009 6:37am
guys,
I man foucusing on how price will play around the HH level if it gets there.. fcr 4755 my exit point is right below it..
DB for max profit on the long and reverse short oppourtunity would be nice.. lol.. we deserve it after what market put us through last week.. don't u think.. lol


John888 & PaulM... great job.. banking big.. vallllllllaaaaaaa
I would like to see you to stick with the same approach when things are not as flowerily as today..
  • #8,899
  • Edited 7:09am Oct 12, 2009 6:48am | Edited 7:09am
Quoting mac1956
Awwww, shucks....
We should all have a conference somewhere one day - mind you I doubt any of us could tear ourselves away from markets for long enough LOL!!! Might miss a runner... ----I get the shakes just thinking about it!
we do it on weekend Macdaddy.. but i will make you guys party so hard that you wish you had never meet me.. fxa style.. if you know what i mean.. lol


Moneda,
excellent point buddy.. and Good Morning..
  • #8,900
  • Oct 12, 2009 9:51am Oct 12, 2009 9:51am
did you hold on through this vicious retrace.. if you did I am proud of you..



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