Survive and Preserve
The System II (Yes with irony)
- #9,624
- Oct 21, 2009 5:19pm Oct 21, 2009 5:19pm
- | Joined Feb 2008 | Status: Zombie Trader | 1,406 Posts
I am with you on the giving up sleep 
, we just going to have to use what we have. I only got 50 out that runner..
Sleep, so overated.
, we just going to have to use what we have. I only got 50 out that runner.. Sleep, so overated.
Survive and Preserve
- #9,625
- Oct 21, 2009 5:46pm Oct 21, 2009 5:46pm
- | Joined Feb 2008 | Status: Zombie Trader | 1,406 Posts
Survive and Preserve
- #9,628
- Oct 21, 2009 7:20pm Oct 21, 2009 7:20pm
- | Joined Feb 2008 | Status: Zombie Trader | 1,406 Posts
Survive and Preserve
- #9,629
- Oct 21, 2009 7:28pm Oct 21, 2009 7:28pm
- | Joined Feb 2008 | Status: Zombie Trader | 1,406 Posts
Hello Pawan,
I advise you to read the whole thread. Also in this thread we only talk about eurusd, gbpusd is an entirely different beast and one that isnt traded here on this thread (and the reason you wont see any posts on gbpusd on this thread).
Define your swing, its the basic 123 we looking at using bracket breakouts and FCRs for reversals (failed HH or failed LL).
IN a nushell what we are doing is testing the market. Not every 123 is a good trade , not every FCR is a reversal and not every breakout works. We test it and test it and test it looking for that runner.
I hope that helps, there is a post by FX on here that he says is the essential reading, its about 10-20 pages back. He lists each post that are a MUST to understand, I advise you to read that post and the links in that post to fully understand. Then after that, read post 9846 for the new testing method.
All the best mate and welcome to the family but keep it to EURUSD. Some of us here do trade other pairs with this method so it works fine but on here we preach, 1 pair, 1 time frame. The method for this thread is EURUSD. If you keen on opening up a GBPUSD system 2 thread then feel free as there are some GBP traders out there who would join you.
See you trading soon
, I am here pretty much 18 hours of the 24 hour day (yes I sleep little and trade much )
I advise you to read the whole thread. Also in this thread we only talk about eurusd, gbpusd is an entirely different beast and one that isnt traded here on this thread (and the reason you wont see any posts on gbpusd on this thread).
Define your swing, its the basic 123 we looking at using bracket breakouts and FCRs for reversals (failed HH or failed LL).
IN a nushell what we are doing is testing the market. Not every 123 is a good trade , not every FCR is a reversal and not every breakout works. We test it and test it and test it looking for that runner.
I hope that helps, there is a post by FX on here that he says is the essential reading, its about 10-20 pages back. He lists each post that are a MUST to understand, I advise you to read that post and the links in that post to fully understand. Then after that, read post 9846 for the new testing method.
All the best mate and welcome to the family but keep it to EURUSD. Some of us here do trade other pairs with this method so it works fine but on here we preach, 1 pair, 1 time frame. The method for this thread is EURUSD. If you keen on opening up a GBPUSD system 2 thread then feel free as there are some GBP traders out there who would join you.
See you trading soon
, I am here pretty much 18 hours of the 24 hour day (yes I sleep little and trade much )hey feb, thanks for this great thread.
I'm into this business for about 8 months now, but not regular. so you can call me noob. i was reading your thread from first and those chart looks really good. can you tell me how to paint bar chart like that?
and i'm also working on gbp/usd pair right now. can you tell me how to define start of a swing in depth? i mean i'm trying on demo, but still often i'm late in entry for swing or got onto wrong entry.
do you concern any other things to validate swing? like pivot points or any previous data?...
Survive and Preserve
- #9,630
- Oct 21, 2009 8:47pm Oct 21, 2009 8:47pm
and i'm also working on gbp/usd pair right now. can you tell me how to define start of a swing in depth? i mean i'm trying on demo, but still often i'm late in entry for swing or got onto wrong entry.
And no demo.
Read thread from the first page. Very important.
- #9,631
- Oct 21, 2009 10:05pm Oct 21, 2009 10:05pm
This is EUR/USD thread on 5 minutes time frame.
And no demo.
Read thread from the first page. Very important.
Thanks enox for your reply. i'm interested in eur/usd too (as it's more stable currency pair then other i guess). i'll dig whole thread for my best. thanks again for helpin me out. hope i'll follow you guys next week, untill then i gotta lot of pages to read.
- #9,633
- Oct 21, 2009 10:50pm Oct 21, 2009 10:50pm
- | Joined Feb 2008 | Status: Zombie Trader | 1,406 Posts
Survive and Preserve
- #9,634
- Oct 21, 2009 10:51pm Oct 21, 2009 10:51pm
- | Joined Feb 2008 | Status: Zombie Trader | 1,406 Posts
Correct, 10 units is 0.001 cents , trade 100 units then
, trade 100 units then This is valid, I was like you too. Demo... it dont work , you can reset the account. Demo is only good for testing a platform. Deposit 100 USD into an OANDA account (i love oanda so they are a nice broker) and trade 10 units with them. That is about 0.01 cent per pip.
There is a reason for this, tyhere is no RESET button, it means you learn to be more careful with your trades and maintaining focus.. what is 100usd? a night on the beer, seriously nothing, and you can use Paypal to deposit it so easy.
Survive and Preserve
- #9,637
- Oct 21, 2009 10:58pm Oct 21, 2009 10:58pm
- | Joined Feb 2008 | Status: Zombie Trader | 1,406 Posts
I dont know but did you ride it?
I didnt
It formed a top and failed high earlier on but I didnt ride it... yeah stupid mistake... the entry was at 5014.
I didnt
It formed a top and failed high earlier on but I didnt ride it... yeah stupid mistake... the entry was at 5014.
Is someone riding euro down?
Survive and Preserve
- #9,639
- Oct 21, 2009 11:27pm Oct 21, 2009 11:27pm
- | Joined Feb 2008 | Status: Zombie Trader | 1,406 Posts
Yeah , I traded that but closed it at +10 when I realised something. I took the order with 1 unit..... I was just laughing my socks off so I just closed it and sat back and watched it go.
It happens.
It happens.
I started but screw it up by trying to play ping-pong. Shoulda stick with System II
Survive and Preserve
- #9,640
- Oct 22, 2009 12:25am Oct 22, 2009 12:25am
- | Joined Feb 2008 | Status: Zombie Trader | 1,406 Posts
Survive and Preserve