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The System II (Yes with irony)

  • #9,561
  • Oct 21, 2009 3:04am Oct 21, 2009 3:04am
Quoting PaulLangham
Thhink I played this incorrectly as I held the trade.

Market rewardred me this time, but not good
I am struggling with it a bit. Up till now I been training my brain to let the market show its hand. Now we press the panic button. But when ... Often the break out retraces a 1-5 pips then takes off again. So I don't want to jump off too early but if you wait too long it kind of defeats the purpose of the aggressive exit. I guess it is a matter of practice, watching the speed of the candles
"Save your ass, then go for profit"
  • #9,562
  • Oct 21, 2009 3:15am Oct 21, 2009 3:15am
Quoting Paul M
I am struggling with it a bit. Up till now I been training my brain to let the market show its hand. Now we press the panic button. But when ... Often the break out retraces a 1-5 pips then takes off again. So I don't want to jump off too early but if you wait too long it kind of defeats the purpose of the aggressive exit. I guess it is a matter of practice, watching the speed of the candles

I guess too that with the #2G you get a chance to re-enter from the same entry point or close to it - I got a few pips profit doing just that yesterday as well as being available for teh big one when it came.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #9,563
  • Oct 21, 2009 3:20am Oct 21, 2009 3:20am
Hey, lets get a runner or two tonight, last night was horrribbbblllee.
Survive and Preserve
  • #9,564
  • Oct 21, 2009 3:22am Oct 21, 2009 3:22am
Quoting mac1956
I guess too that with the #2G you get a chance to re-enter from the same entry point or close to it - I got a few pips profit doing just that yesterday as well as being available for teh big one when it came.
I actually forget this KEY part of the plan... so I missed the runner.
  • #9,565
  • Oct 21, 2009 3:22am Oct 21, 2009 3:22am
Quoting Paul M
I am struggling with it a bit. Up till now I been training my brain to let the market show its hand. Now we press the panic button. But when ... Often the break out retraces a 1-5 pips then takes off again. So I don't want to jump off too early but if you wait too long it kind of defeats the purpose of the aggressive exit. I guess it is a matter of practice, watching the speed of the candles
i know what u mean paul, but i can tell u from yesterdays trades , i had 3 all were fakeouts & all of them i balied for -6 pips on all of them & on all the trades they would of hit my hard s/l , obvioulsy its only the first day of this new exit , so i guess its test,test,test, the more screen time the better.
cheers andrew
Survive & Preserve
  • #9,566
  • Oct 21, 2009 3:24am Oct 21, 2009 3:24am
Quoting mac1956
I guess too that with the #2G you get a chance to re-enter from the same entry point or close to it - I got a few pips profit doing just that yesterday as well as being available for teh big one when it came.
Thanks Mac, I will keep that in mind next time. I tend to wait till its negative before exiting
"Save your ass, then go for profit"
  • #9,567
  • Oct 21, 2009 3:26am Oct 21, 2009 3:26am
Hello, guys!*

I need your help.....

Please, I want to start trading with Oanda broker. Oanda. May be some of you are using this firma? Is it well???

I did find this site - www.oanda.com

If I am right - oanda doesn't has a platform (something like mt4), and all mechanics makes in pop-up window of browser.... Right?
And - I am using always numbers like this - 1,6472... And oanda's numbers are - 1,64724 (fore exemple).... So now I am not sure if its spread is less or bigger than my. Current my spreads for Metatrader (mt4) are:
EUR/USD - 1,4954-1,4956 (2 pips)
GBP/USD - 1,6479-1,6483 (4 pips)

And Oanda has 5 numbers after "," .... I am not sure about spreds.. Or it is something like 2,2 pips spread?????
So - do you like this firma?????


Thanks very much......!!!!!!
  • #9,568
  • Oct 21, 2009 3:27am Oct 21, 2009 3:27am
Quoting mac1956
I guess too that with the #2G you get a chance to re-enter from the same entry point or close to it - I got a few pips profit doing just that yesterday as well as being available for teh big one when it came.
hey mac, with the re entry, say the trade goes 5 pips in ur favour then goes against u , when u re enter did u go back in at the new h/l + 3pips + spread or from ur original entry???
cheers mate
andrew
Survive & Preserve
  • #9,569
  • Oct 21, 2009 3:28am Oct 21, 2009 3:28am
THe most important part about this gents and ladies, is to get THAT RUNNER.
otherwise those small losses are gonna kick your ass.

I missed the runner last night ;(

Actually I was in it then got out for -5 then went to bed, with an open order short(didnt realise) got triggered and went down for 40 pips or so... except I was sleeping, so when I woke up, it was -2... hahaha, oh well, could have been worse since the order didnt have an SL on it. So I am grateful for a mistake that didnt beat me worse then it did.
Survive and Preserve
  • #9,570
  • Oct 21, 2009 3:39am Oct 21, 2009 3:39am
Quoting andrewb7
hey mac, with the re entry, say the trade goes 5 pips in ur favour then goes against u , when u re enter did u go back in at the new h/l + 3pips + spread or from ur original entry???
cheers mate
andrew

Hi Andrew,

It never got that good yesterday. The price kept hovering around my entries, especially on the swing down - that was tough until it ran - I was in and out like a rabbit (which is why I didn'tpost a chart last night - I gave up marking them in)! It would give me a couple of pips and then waver - so I rode the button manually and just used my instincts - sometimes -1/2 sometimes BE/+1 and not always the first challenge. If it came back to the entry point within a couple of candles I used the entry point again. This current price action is an example - If you were using the fcr at 52 as a short entry you might have entered at 48 on the third candle (red) and then got out again for a -1 or a BE. Then a couple of candles later it had anothe go short - that could have been another entry point which this time looks ripe so time to hang in there. Had to use manual entries and exits - ride that button brother. Not saying this is right, it worked yesterday, but today is another learning zone!!! Hope this makes sense.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #9,571
  • Oct 21, 2009 3:47am Oct 21, 2009 3:47am
Quoting dim4ik42
Hello, guys!*

I need your help.....

Please, I want to start trading with Oanda broker. Oanda. May be some of you are using this firma? Is it well???

I did find this site - www.oanda.com...
I am trading at OANDA and I like it. The platform is java based, so no, it has nothing to do with your browser. OANDA also has pipettes, that's why they have 5 digits after the koma. So the current spread on EUR/USD is 0,9 pips, GBP/USD 2,3 pips. Yet, watch out, spread widens during heavy news time. Check out the demo, and if you like it, give it a try.
  • #9,572
  • Edited 3:59am Oct 21, 2009 3:49am | Edited 3:59am
dim4ik42,

oanda has 0.9 pips most of the times, but it widens during news (yesterday i saw it jump to 10 pips!) and during low liquidity (before tokyo opens).

their platform is java based (not running in browser - happy jo ?). to me it seems slower compared to alpari, but not so that it would affect my trading, and, personally, i think it's easier to manage trades with it, since everything can be done on the chart.

the fifth figure is called pipette, is common on some mt4 brokers, and can be turned off in oanda.

the biggest advantage with oanda is that you can adjust your position size down to pennies if you like.

overall it's a pretty ok broker from my personal experience so far.

hope it helps.
  • #9,573
  • Oct 21, 2009 3:50am Oct 21, 2009 3:50am
cheers mac, i guess its just a matter of keep testing the market
Survive & Preserve
  • #9,574
  • Oct 21, 2009 3:52am Oct 21, 2009 3:52am
Quoting andrewb7
i know what u mean paul, but i can tell u from yesterdays trades , i had 3 all were fakeouts & all of them i balied for -6 pips on all of them & on all the trades they would of hit my hard s/l , obvioulsy its only the first day of this new exit , so i guess its test,test,test, the more screen time the better.
cheers andrew
Thanks Andrew. That puts it into perspective. No more fakeouts that hit your stoploss. Still in it for the runner. Yeah Baby (as Feb would say)
"Save your ass, then go for profit"
  • #9,575
  • Edited 4:05am Oct 21, 2009 3:54am | Edited 4:05am
Quoting andrewb7
cheers mac, i guess its just a matter of keep testing the market

Having said all that I'm short from 44 on this and hanging in there! Had to dig out the old style #2 form the garbage - euchhh - still waiting for a better price... out -6 and now it'll flip me off!!!!!
$urvive, Pre$erve & RESPECT THE TEACHER
  • #9,576
  • Oct 21, 2009 3:55am Oct 21, 2009 3:55am
Quoting mihaig78
their platform is java based (running in browser).
It does NOT run in a browser! Java is just another programming language. It loads the java platform from the internet, and executes it on your computer - it has nothing to do with your browser.
Quoting mihaig78
the fifth figure is called pipette, is common on some mt4 brokers, and can be turned off in oanda.
You can turn it off, but orders will be still affected by pipettes.
  • #9,577
  • Oct 21, 2009 4:06am Oct 21, 2009 4:06am
Quoting mac1956
Having said all that I'm short from 44 on this and hanging in there! Had to dig out the old style #2 form the garbage - euchhh - still waiting for a better price...
exited for +1 on that last fcr break short, now looking for new entry short at 938 possibly if it gets down that far..

HR
  • #9,578
  • Oct 21, 2009 4:11am Oct 21, 2009 4:11am
Quoting highroller
exited for +1 on that last fcr break short, now looking for new entry short at 938 possibly if it gets down that far..

HR

Got back in short off the 44 and took back my 6 pips! Not very elegant trading but the last pullback was far in excess of 50% which as Feb said suggests weakness. time for a coffee!!!
$urvive, Pre$erve & RESPECT THE TEACHER
  • #9,579
  • Oct 21, 2009 4:12am Oct 21, 2009 4:12am
Quoting mac1956
Got back in short off the 44 and took back my 6 pips! Not very elegant trading but the last pullback was far in excess of 50% which as Feb said suggests weakness.
thats the way....
  • #9,580
  • Oct 21, 2009 4:20am Oct 21, 2009 4:20am
Quoting highroller
thats the way....

Now it's gonna run! Caught a nice one elsewhere though - but not relevant here.
$urvive, Pre$erve & RESPECT THE TEACHER
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