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The System II (Yes with irony)

  • #10,541
  • Nov 9, 2009 7:32pm Nov 9, 2009 7:32pm
I mean is there any correlation between SP 500 and euro like between EURUSD and USDCHF.

If euro goes up sp 500 goes up?
  • #10,542
  • Nov 10, 2009 12:28am Nov 10, 2009 12:28am
[quote=feb2865;3219428]

The market can do whatever, is your game plan what matters. If you plan ahead, the chop monster should be in your list.

remember if the market does xx then I'll do xx....

Iquote]


There you have it guys, have your plan and then trade your plan.
Survive and Preserve
  • #10,543
  • Nov 10, 2009 1:22am Nov 10, 2009 1:22am
good morning,

Ready to go
  • #10,544
  • Nov 10, 2009 1:43am Nov 10, 2009 1:43am
Good morning,
this market is still super range.. I would stay away from trading every hiccups or singals in the range area.. sure it can break away at anytime, but i be more selctive and take my shot above 5010s and below 4960s areas and stay away from all the signals in between.. treat it like a bracket..

this is what i would do.. you of course can do as u wish my brothers.. lol
  • #10,545
  • Nov 10, 2009 1:46am Nov 10, 2009 1:46am
Quoting fxachilies
Good morning,
this market is still super range.. I would stay away from trading every hiccups or singals in the range area.. sure it can break away at anytime, but i be more selctive and take my shot above 5010s and below 4960s areas and stay away from all the signals in between.. treat it like a bracket..

this is what i would do.. you of course can do as u wish my brothers.. lol

yes I like that

Waiting - powder dry
Survive and Preserve
  • #10,546
  • Nov 10, 2009 2:09am Nov 10, 2009 2:09am
after all the discussion late yesterday with feb on helm, it all boiled down to..
have a game plan and play according to your plan..
prefect example of it live today..
I went long based on level break 123D or BB.. at 4993.. and out with G+ for -8 when price crossed over the level line..
this exit had nothing to do with all the knowledge that i could have accumplate through manualls of all sorts.. but to just a simple play of my plan..
you all can see at this very moment u are glad that u are out with only -8.. shit u should feel like a winner.. lol

now i am not trying to push my plan down your throat.. use your preferred plan.. but whatever you do atleast have one and stick with it..
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  • #10,547
  • Nov 10, 2009 2:20am Nov 10, 2009 2:20am
Quoting feb2865
I have to be brutally blunt.

There's nowhere that I can point you out. The information books etc, other than Jesse Livermore and Nicolas Darvas, is simply : biased. The internet is 100% biased. crappolandia in my opinion. If I knew something worth it, I will send you without hesitation.

Markets have certain inter-dependency which is beyond the scope of anyone's view. This is where trading becomes art literally.

Guys, I sincerely wish I can put something together on this and some other subjects. If you bear with me, I have 2 open classrooms...
Morning Feb,

I'm a new trader who's been through the pain/confusion barrier of trading off charts with a bewildering range of lines, indicators etc, etc. before discovering this system. I love its purity and simplicity - big thanks for all the advice and support you continue to give. I'm keen to learn more - how do I join up to the open classrooms you mention?
  • #10,548
  • Nov 10, 2009 4:20am Nov 10, 2009 4:20am
  •  leemo
  • | Joined Oct 2009 | Status: Frankie Howard lives on... | 42 Posts
Phew... Finally got to the end of the thread. Took me 2 weeks and I still need to go back and check on a few points to avoid wasting your time with questions.

I'm based in the UK and would like to trade fx through a spreadbetting account to avoid tax. I seem to remember Mac used IGINDEX at one point. Do any of you other UK based guys spreadbet?
  • #10,549
  • Nov 10, 2009 4:34am Nov 10, 2009 4:34am
long at 1.5008 ......... bb play 1 or g+
  • #10,550
  • Edited 5:40am Nov 10, 2009 4:37am | Edited 5:40am
Quoting FOURX
long at 1.5008 ......... bb play 1 or g+
I am with you FourX from 1.5005. Just relaxing my finger off the 2G button

Out at BE. Held a bit too long playing #1
"Save your ass, then go for profit"
  • #10,551
  • Nov 10, 2009 4:46am Nov 10, 2009 4:46am
  • #10,552
  • Edited 8:57am Nov 10, 2009 8:22am | Edited 8:57am
when short at 1.49549 BB. of course it immediately went north! then realised i missed the news again doh! lets see what happens.

out -10
  • #10,553
  • Nov 10, 2009 9:37am Nov 10, 2009 9:37am
Long since 4974
agressive entry
so far holding ...
david4u
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  • #10,554
  • Nov 10, 2009 10:19am Nov 10, 2009 10:19am
Definitely the 1.50 area was acting up as a ceiling. The market simply saw euro @1.50 too expensive. We might get to 1.50 again but for now we need to see how long the short last.....People migth begin to change euro's for gold so don't be surprise if you see the E/U going down again in the next few days....heads up.

I personally prefer for the market to break the 1.50 barrier. When that happens, a new surge of traders comes to the market giving us plenty of bull meat...hard and fast...it happened when the market broke 1.45 in 2007....

I know this is not part of the "system" but is a little hint to keep your ear on the ground....
Peace
  • #10,555
  • Nov 10, 2009 10:20am Nov 10, 2009 10:20am
Quoting FOURX
long at 1.5008 ......... bb play 1 or g+
took -13 on this trade, been out for a few hours, seems like this thread is slowly ebbing away, not much chat.........i sure hope not
  • #10,556
  • Nov 10, 2009 10:52am Nov 10, 2009 10:52am
Quoting FOURX
took -13 on this trade, been out for a few hours, seems like this thread is slowly ebbing away, not much chat.........i sure hope not
a couple of ranging days will do that.
I make money anywhere in the world by taking orders
  • #10,557
  • Nov 10, 2009 11:00am Nov 10, 2009 11:00am
Quoting feb2865
Definitely the 1.50 area was acting up as a ceiling. The market simply saw euro @1.50 too expensive. We might get to 1.50 again but for now we need to see how long the short last.....People migth begin to change euro's for gold so don't be surprise if you see the E/U going down again in the next few days....heads up.

I personally prefer for the market to break the 1.50 barrier. When that happens, a new surge of traders comes to the market giving us plenty of bull meat...hard and fast...it happened when the market broke 1.45 in 2007....

I know...
Hi Feb,

Thanks for the insight...always appreciated.
  • #10,558
  • Nov 10, 2009 11:35am Nov 10, 2009 11:35am
Quoting FOURX
took -13 on this trade, been out for a few hours, seems like this thread is slowly ebbing away, not much chat.........i sure hope not

Just not a particularly tradeable day today. I stayed out all day - no momentum and no direction during the major sessions. Not ebbing away...not possible... - 10,500+ posts!!!
$urvive, Pre$erve & RESPECT THE TEACHER
  • #10,559
  • Nov 10, 2009 11:46am Nov 10, 2009 11:46am
i didn't stay on the sidelines. as fx said a while back, these are the true testing days. these are my trades.
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  • #10,560
  • Nov 10, 2009 12:22pm Nov 10, 2009 12:22pm
Quoting mac1956
Just not a particularly tradeable day today. I stayed out all day - no momentum and no direction during the major sessions. Not ebbing away...not possible... - 10,500+ posts!!!
hey mac,

just saying not the same without any banter
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