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The System II (Yes with irony)

  • #9,741
  • Oct 25, 2009 7:49am Oct 25, 2009 7:49am
Quoting Fxfighter
Hi Rock Familie.
To Paul L. your chart from Friday .Why u didn't try to reenter after exit 1.short 1.5009 BE?I know there is not great bearish candels(wiks),but maybe just for test water.Hm maybe is useful try more agressive jump in as we can use tool+2G.Anyway I like your exits,that in 4.trade short is excellent to me.
I love your hunting paulies.
Guys I wish you all best and keep rock familie together!!!

Hi Fxfighter

Yes u r absilutely right, in fact I marked that "missed" entry in in mauve to show myself and the thread readers as well. So long as the signal is for real - meaning real FCR and one can see it real time - then I believe it should be taken. A Mon has said - and if you rember a few weeks back i jumped in very quickly and took one which wasn`t a fully formed FCR - this stuff is tricky to see in RT.

Hope that helps.
Survive and Preserve
  • #9,742
  • Oct 25, 2009 7:50am Oct 25, 2009 7:50am
from post#9486

"as i said already, i throw out the #2 play.. it don't exist anymore.. you simply apply the BB exit for all fakouts and for all of are entery options..
there is a catch.. and that is to get decived by the price and lose out on the chance of a runner.. so to avoid that we keep a reentery option open when price breaks the new HH/LL to assure not missing
a possible runner."



Hey fx.

now dont take this as negative, i'm just wondering why the about turn from last week regarding #2?

thanks
  • #9,743
  • Oct 25, 2009 7:53am Oct 25, 2009 7:53am
Quoting fxachilies
OK back...
Structures that i am about to give you guys is for the purpose of better trade managment in minute details as a guide to be followed which will lead to that great intution that we all seek for.. and its all about expectancy which in nutshell means cutting the losers short and letting the winners run.. everything we do is for our one and only goal and that is to fill out job dutie.. and we all should know by now that what that is.. if u don't know that by now then don't bother with the rest of this post and the whole thread in general.....
Hey thx FX as always. You are dedicated and kind enough to help newbies and experienced traders alike and for that I send my sincere thanks. WHat you have laid out is a road map for success for those people ready to put in the home work. Isn`t it nice to be promised success based on hard work rather than on thin promises.

Yep I am printing the charts now and they will be learnt by heart. Next stage, training the eye real time and marking charts with the trade type played. Stage after that go form a queue at the teller to collect LOL !
Survive and Preserve
  • #9,744
  • Oct 25, 2009 8:01am Oct 25, 2009 8:01am
Quoting FOURX
from post#9486

"as i said already, i throw out the #2 play.. it don't exist anymore.. you simply apply the BB exit for all fakouts and for all of are entery options..
there is a catch.. and that is to get decived by the price and lose out on the chance of a runner.. so to avoid that we keep a reentery option open when price breaks the new HH/LL to assure not missing
a possible runner."



Hey fx.

now dont take this as negative, i'm just wondering why the about turn from last week regarding #2?

thanks...
Hey Fourx,,
Fx can corect me when I am wrong - always ready for a good slapping - but with the 123D, price has already pulled back much further than the 123S and will be more likel;y to fail on any potential breakout/pierecing of the high. Therefore, if you get that you bail sharpish. #2G+(G spot trade)

With the 123s, price retraced just a little, therefore the percentages are in your favour. Odds are with you that on any break upsides price will follow thru, therefore play #2.

My interpretation and ready to stand corrected.
Survive and Preserve
  • #9,745
  • Oct 25, 2009 8:01am Oct 25, 2009 8:01am
A-- FCR 1 entry with #2 defensive play.



B-- BB with #2G+ defensive play....hard one! Tested the H 1.5050 and then the L of 1.5016 before breaking down...only saw it when on own charts.



C-- 123 D entry with #2G+ defensive play.


D-- FCR 1 entry with #2 defensive play.




Survive and Preserve


Quoting fxachilies
Hi Guys,
i got quiz for you from fridays chart..

who can name the the marked setups? and the appropriate defensive play to with it?
and..
why do we call A_________? and B_________? what is the difference since they look so identical?

I check the answers later on tonight (about 7hrs from now)..
Cya,
I follow THE PLAN to Survive & Preserve..
  • #9,746
  • Oct 25, 2009 8:17am Oct 25, 2009 8:17am
Quoting PaulLangham
Hey Fourx,,
Fx can corect me when I am wrong - always ready for a good slapping - but with the 123D, price has already pulled back much further than the 123S and will be more likel;y to fail on any potential breakout/pierecing of the high. Therefore, if you get that you bail sharpish. #2G+(G spot trade)

With the 123s, price retraced just a little, therefore the percentages are in your favour. Odds are with you that on any break upsides price will follow thru, therefore play #2.

My interpretation and ready to stand corrected.
hey paul

i see what you mean
  • #9,747
  • Oct 25, 2009 8:36am Oct 25, 2009 8:36am
Hi,
just checking on answeres..

and i got to answer Fourx before anyone..
the reason was bcz i wanted everyone to get plenty of practice on #2G+ so we are better prepared to understand this weekends study.. nothing is like practising things in reall time..
three days not gonna harm anyone rather important to learn another tool and now be more clear to distinguish the two.. (#2 vs #2G+)..
ok bud..

enox,
you are close on setup recongnition answers.. u missed one and thats the important one.. also u seemed to forget the rest of my questions.. the defnisive part and the difference between A & B..


kooli,
I think my answer to fourx should answer your question to..
at least partially ..

Fxfighter,
read my yesterdays post.. FCR what.. 1 or 2? which 123.. Deep (D) or short (S)..


thanks for participations.. I like to see more.. from newbies to vips aswell.. I know its weekend.. but money never sleeps guys.. this our business.. if its not your full or semi full time business than don't bother.. bcz this works for people that input atleast 6hrs a day..

anyways i be around for the next 1hr or so.. then be back at my quiet time to plan out my week of ass kicking..
  • #9,748
  • Oct 25, 2009 8:46am Oct 25, 2009 8:46am
thanks fx, i'm with you
  • #9,749
  • Oct 25, 2009 9:09am Oct 25, 2009 9:09am
Difference between A and B:

A develops from low point
B develops inside bracket.

Quite tired...3am. Maybe Im looking at it to simple now...

Survive and Preserve
I follow THE PLAN to Survive & Preserve..
  • #9,750
  • Oct 25, 2009 10:17am Oct 25, 2009 10:17am
Quoting fxachilies
Hi,
just checking on answeres..

and i got to answer Fourx before anyone..
the reason was bcz i wanted everyone to get plenty of practice on #2G+ so we are better prepared to understand this weekends study.. nothing is like practising things in reall time..
three days not gonna harm anyone rather important to learn another tool and now be more clear to distinguish the two.. (#2 vs #2G+)..
ok bud..

enox,
you are close on setup recongnition answers.. u missed one and thats the important one.. also u seemed to forget the rest of my questions.....
To Fx achilies sorry boss I didn't complete my answear.Thanks for your posts I love it!!!
A-FCR1
B-BB
C-123D
D-FCR1

To Paul L.I remmember Paul also you'v asked FX about a month agou about that entris or very similar.Yes I know is very risky,but I like to be first in the line and be ready for +2g.I think it give it to me more options to play,what tool I will use.Obviesly it need to more practice.I think entry is very importent as well.
Anyway thank you for your charts I always print and try to find better spot to entry or exit.

P.S.to everyone sorry for English it is not my mother language,but I will try do better.
  • #9,751
  • Oct 25, 2009 10:20am Oct 25, 2009 10:20am
Below is my answers.

A - FCR #2
B - 123 S
C - 123 D
D - FCR #2G

FX, its really a great insight and clarified much doubts through the summary page. I'll definitely archive it up and paste it across the wall. Hope I've applied the system correct on your quiz.

Such quiz over the weekend really makes me goes thinking and correcting and improvng myself. This thread is moving towards education and teaching. And I enjoyed very much through the sharing from fellow traders. Especially the thought processes and the trades entries/exits.
  • #9,752
  • Oct 25, 2009 10:22am Oct 25, 2009 10:22am
Quoting fxachilies
Hi Guys,
i got quiz for you from fridays chart..

who can name the the marked setups? and the appropriate defensive play to with it?
and..
why do we call A_________? and B_________? what is the difference since they look so identical?

I check the answers later on tonight (about 7hrs from now)..
Cya,

..and thanks to those of you for your kind words.. your welcome.

http://cdn.forexfactory.com/images/attach/gif.gif

Hey Fx

I have

A-FCR1
B - Not enough touching oints for BB for me.
C- Deep 123
D - FCR1

you got me on B then LOL
Survive and Preserve
  • #9,753
  • Oct 25, 2009 11:02am Oct 25, 2009 11:02am
Quoting fxachilies
Hi Guys,
i got quiz for you from fridays chart..

who can name the the marked setups? and the appropriate defensive play to with it?
and..
why do we call A_________? and B_________? what is the difference since they look so identical?

I check the answers later on tonight (about 7hrs from now)..
Cya,

..and thanks to those of you for your kind words.. your welcome.

http://cdn.forexfactory.com/images/attach/gif.gif
Hi Fx,

These are my answers:

A) 123 S - #2
B) 123 D - #2G+
C) FCR 1 - #2
D) FCR 1 - #2

  • #9,754
  • Oct 25, 2009 11:12am Oct 25, 2009 11:12am
Here's mine...
Attached Image (click to enlarge)
Click to Enlarge Name: #FX-gems.png Size: 48 KB
  • #9,755
  • Oct 25, 2009 12:11pm Oct 25, 2009 12:11pm
Hi,
ok guys.. first of all i like participation and involvments of everyone.. Specialy great participation from the very new faces.. thats thats a winning approach that you need to have.. it's awsome..

everyone pretty much missed one or other but most of missed the answer to B.. and that is the whole reason of my quiz.. I want it to be clear for everyone so tomorrow we make less mistakes and gets better for then on..
the answer is..

A) FCR1.. #1.. if F= #2
B) S123.. #1.. if F= #2
C) D123.. #1.. If F= #2G+
D) FCR1.. #1.. if F= #2

ok the difference between A & B..
they look very identical with short retrace.. but, A is a reversal signal.. but B is a countinuation of price.. however the defensive play on both are the same (#2) so don't sweat it.. if you are puzzeled and not make a lot of sense I advise u to really study the charts and my weekend post and you will know the difference.. I am sure in the heat of the battle it could get confusing.. so do the necessary work so you be more clear..
the bottomline is that if you got a setup that is got a short retrace you should give the price room and if you got a setup that the retrace is over 15pips or there is no retrace at all like fcr2 or BB, then you should cut that loser short with G+..

ok.. my favorite show is coming up shortly.. after I get done watching that i will join the thread and answer if there is any confusion or questions..
  • #9,756
  • Oct 25, 2009 3:59pm Oct 25, 2009 3:59pm
Yeah, I did seem to have forgotten the defensive moves in my answer, which was the whole point of the question.

Revised answers
A) FCR1, #2
B) BB #2g+( I am not changing my answer even though its wrong, I was looking at number 4 instead of the 123s setup...) defensive play on BB is
C)123D, #2g+ massive pullback, higher risk therefore a more aggressive defesensive play
D) FCR1, #2


To answer your other question why A is A and B is B is because A price was going down in the prior movement , therefore its a reversal(FCR1) and B is because price broke down from the bracket (point 4) and was continuing that direction. @
Survive and Preserve
  • #9,757
  • Oct 25, 2009 5:52pm Oct 25, 2009 5:52pm
looking to play 123S , if it breaks will then play number #2, sl below 1.5000

attached chart
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.png Size: 44 KB
Survive and Preserve
  • #9,758
  • Oct 25, 2009 6:30pm Oct 25, 2009 6:30pm
En0x,

I am not sure if I would call your next entry a 123 setup considering that imo a swing that started on Friday does not reflect the circumstances that pa is showing atm...to me it looks more like a bracket breakout ...but I guess either way the entry will be based on a strong movement either north or south...

Good luck
Unus pro omnibus, omnes pro uno
  • #9,759
  • Oct 25, 2009 6:40pm Oct 25, 2009 6:40pm
Update on this, long wasnt triggered but short showed its hand. Played the short.
Quoting en0x
looking to play 123S , if it breaks will then play number #2, sl below 1.5000

attached chart
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.png Size: 54 KB
Survive and Preserve
  • #9,760
  • Oct 25, 2009 6:44pm Oct 25, 2009 6:44pm
Where abouts where you looking? peak of 1.5011 = top of box? Hmm, that could be a bracket, not too sure though. , i considered it a 123 due to it being the first swing of the day (and of the week), it failed though so I took the short FCR2 instead, playing #2g+ but it so far is moving a little in my way.

Quoting moneda
En0x,

I am not sure if I would call your next entry a 123 setup considering that imo a swing that started on Friday does not reflect the circumstances that pa is showing atm...to me it looks more like a bracket breakout ...but I guess either way the entry will be based on a strong movement either north or south...

Good luck
Survive and Preserve
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