just before 15 pips red candle.
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The System II (Yes with irony)
- #9,503
- Oct 19, 2009 10:21pm Oct 19, 2009 10:21pm
- | Joined Feb 2008 | Status: Zombie Trader | 1,406 Posts
Fantastic eh? well timed. Stupid red candle 
, i actually didnt even get time to play #2g+, was busy replying to an email. so now trying to get out of this at a decent price.
, i actually didnt even get time to play #2g+, was busy replying to an email. so now trying to get out of this at a decent price.just before 15 pips red candle.
Survive and Preserve
- #9,507
- Oct 19, 2009 10:54pm Oct 19, 2009 10:54pm
Morning All,
Let's get some pips
Fx, great addition to the toolset as always!
I must have written about 10 times in my journal just in the last couple of days CUT LOOSERS SHORT!! 2g+ exit is exactly what i have noticed. I always tend to give trades too much space, trying to play proper #2 ... always thinking that playing #2 will get me out of the trouble.
What i've noticed is that by cutting it quickly - 2g+ exit (didn't bbexit sound nicer?) puts me in control and let me worry less. i mean, yeah i will loose 15 pips - 5-10 with the exit and 5-10 more with the worse entry ... but i am in control! I can reentry, or i can always reverse position. Playing #2 left me hoping my hard sl wouldn't be hit and because of taking the full loss made me a little uncomfortable to reverse position.
now, that this is an official rule of the family, i will probably be much more likely to use it
thanks again
Let's get some pips
Fx, great addition to the toolset as always!
I must have written about 10 times in my journal just in the last couple of days CUT LOOSERS SHORT!! 2g+ exit is exactly what i have noticed. I always tend to give trades too much space, trying to play proper #2 ... always thinking that playing #2 will get me out of the trouble.
What i've noticed is that by cutting it quickly - 2g+ exit (didn't bbexit sound nicer?
) puts me in control and let me worry less. i mean, yeah i will loose 15 pips - 5-10 with the exit and 5-10 more with the worse entry ... but i am in control! I can reentry, or i can always reverse position. Playing #2 left me hoping my hard sl wouldn't be hit and because of taking the full loss made me a little uncomfortable to reverse position.now, that this is an official rule of the family, i will probably be much more likely to use it
thanks again
- #9,509
- Oct 19, 2009 11:30pm Oct 19, 2009 11:30pm
technicall change..
I am pulling out the #2 play and replacing it with BB exit.. going back to quick expectancy play to counter nasty fakeouts..
so..
fakeout = BB exit.. with reentery inplace..
the Idea is to cut the losers short as quickly as possible and not be at the mercy of the market when in the loss column..
the benfit are:
A) max loss is 5-10 pips.. so the most we ever should lose on any of are trades are no more than 10pips and our hard sl never to be hit when we get dealt a fakeout.. and the worst result when we get dealt a semi fakeout...
wowww......
I'm like a kid with a new bicycle.........
Let's use the new #2G+
Fx, THANK YOU VERY MUCH for all your generosity, buddy
You truly increases the thread value more and more with each aportation......
- #9,510
- Oct 19, 2009 11:37pm Oct 19, 2009 11:37pm
Fx and others,
Once again you put on your thinking cap and experience and have come up with another exit option...
Here are a couple of things that came to my mind as I put on my own thinking cap
(which I hope you are all doing)... perhaps repetitive but important to keep in mind imo.
#1 Identifying a high probability fcr. By this I do not mean to hesitate or freeze or over analyse thus missing a chance at a runner..for example an fcr too close to another more prominent one....or an fcr that develops inside a ranging bracket.
#2 Entering close to major news releases like Non Farm or Interest rate announcement...This is even more important than before if you want to keep your risk management tight per this new exit..... price can spike, stop losses are ignored and spread increases are your main enemy during this time......
you should stay away until the dust clears and pa takes on a clear path.
Anyway...let me know if you are in agreement or want to expand on this ...
Thank you again fx
Once again you put on your thinking cap and experience and have come up with another exit option...
Here are a couple of things that came to my mind as I put on my own thinking cap
(which I hope you are all doing)... perhaps repetitive but important to keep in mind imo.#1 Identifying a high probability fcr. By this I do not mean to hesitate or freeze or over analyse thus missing a chance at a runner..for example an fcr too close to another more prominent one....or an fcr that develops inside a ranging bracket.
#2 Entering close to major news releases like Non Farm or Interest rate announcement...This is even more important than before if you want to keep your risk management tight per this new exit..... price can spike, stop losses are ignored and spread increases are your main enemy during this time......
you should stay away until the dust clears and pa takes on a clear path.Anyway...let me know if you are in agreement or want to expand on this ...
Thank you again fx
Unus pro omnibus, omnes pro uno
- #9,511
- Oct 19, 2009 11:44pm Oct 19, 2009 11:44pm
- | Membership Revoked | Joined Feb 2009 | 2,903 Posts
Good Morning everyone,
looks like everyone is up and ready to go.. I will join this enthusiastic group for another day of battle triumph..
Thank you all for your kind words about the #2G+ post.. I am glad to see most of you get the resoning behind the change and implementing it already.. #2 worked most of the times more than 2/3 of the times.. but #2G+ will produce better bottomline.. it does it for you financially and psychologically..
..
the only thing that we need to take to consideration is that u might go 0-4 for -25 before getting the big one and be +20.. and only one more will put you up for 60+..
and sometimes u might lose for the whole day and even the next day but again same rule applies.. the runners will show up sooner or later and you come out on top.. the catch is to not let losing runs deviate you from the plan.. stick to the plan..
plan is simple.. test the water.. fakeout.. ok.. #2g+, cut the the loser short.. semi fakeout.. ok.. #1, squeeze the winner to death. they go hand to hand.. the reason i stress this part is bcz its concern of mine for your guys.. if your good at cutting the loser short but not good at letting the winners run you will have a problem..
so lets adopt the way within..
alright lets do this thing.. as i am typing this post and siping on my coffee i see price constipation.. lol.. inside a 20 piper bracket on the edge of london open.. lets see how the open shapes up..
good luck all..
looks like everyone is up and ready to go.. I will join this enthusiastic group for another day of battle triumph..
Thank you all for your kind words about the #2G+ post.. I am glad to see most of you get the resoning behind the change and implementing it already.. #2 worked most of the times more than 2/3 of the times.. but #2G+ will produce better bottomline.. it does it for you financially and psychologically..
.. the only thing that we need to take to consideration is that u might go 0-4 for -25 before getting the big one and be +20.. and only one more will put you up for 60+..
and sometimes u might lose for the whole day and even the next day but again same rule applies.. the runners will show up sooner or later and you come out on top.. the catch is to not let losing runs deviate you from the plan.. stick to the plan..
plan is simple.. test the water.. fakeout.. ok.. #2g+, cut the the loser short.. semi fakeout.. ok.. #1, squeeze the winner to death. they go hand to hand.. the reason i stress this part is bcz its concern of mine for your guys.. if your good at cutting the loser short but not good at letting the winners run you will have a problem..
so lets adopt the way within..
alright lets do this thing.. as i am typing this post and siping on my coffee i see price constipation.. lol.. inside a 20 piper bracket on the edge of london open.. lets see how the open shapes up..
good luck all..
- #9,512
- Oct 19, 2009 11:47pm Oct 19, 2009 11:47pm
- | Joined Feb 2008 | Status: Zombie Trader | 1,406 Posts
It will be a sad day when you leave us 
Good Morning everyone,
looks like everyone is up and ready to go.. I will join this enthusiastic group for another day of battle triumph..
Thank you all for your kind words about the #2G+ post.. I am glad to see most of you get the resoning behind the change and implementing it already.. #2 worked most of the times more than 2/3 of the times.. but #2G+ will produce better bottomline.. it does it for you financially and psychologically..
the only thing that we need to take to consideration is that u might go 0-4 for -25 before getting the...
Survive and Preserve
- #9,514
- Oct 19, 2009 11:58pm Oct 19, 2009 11:58pm
- | Membership Revoked | Joined Feb 2009 | 2,903 Posts
- #9,516
- Oct 20, 2009 12:11am Oct 20, 2009 12:11am
Extra UK family member online. Good exam yesterday...now for the REAL exam.
Going for 'Gressive today - wid da #2'G'angstuh Plus play. My fingernails are growing again since using the BB exit. This is an elegant nudge towards less grief on the bottom line. However, it seems to me important to be ready to re-enter...not sit back admiring the swift exit for -1 and missing out.
Makes this failed BBreakout a lot easier to bear.
Missed you guyz!
Going for 'Gressive today - wid da #2'G'angstuh Plus play. My fingernails are growing again since using the BB exit. This is an elegant nudge towards less grief on the bottom line. However, it seems to me important to be ready to re-enter...not sit back admiring the swift exit for -1 and missing out.
Makes this failed BBreakout a lot easier to bear.
Missed you guyz!
$urvive, Pre$erve &
RESPECT THE TEACHER 
- #9,518
- Oct 20, 2009 12:27am Oct 20, 2009 12:27am
- | Membership Revoked | Joined Feb 2009 | 2,903 Posts
Extra UK family member online. Good exam yesterday...now for the REAL exam.
Going for 'Gressive today - wid da #2'G'angstuh Plus play. My fingernails are growing again since using the BB exit. This is an elegant nudge towards less grief on the bottom line. However, it seems to me important to be ready to re-enter...not sit back admiring the swift exit for -1 and missing out.
Makes this failed BBreakout a lot easier to bear.
Missed you guyz!
daddy made good point here, quote:
"it seems to me important to be ready to re-enter...not sit back admiring the swift exit for -1 and missing out."
welcome back bud.. hope u ace that exam..
