The System II (Yes with irony) | Page 532 | Forex Factory

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We all need pivots to win..yes or not? 13 replies

The System (Irony included) 1,175 replies

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The System II (Yes with irony)

  • #10,621
  • Nov 11, 2009 4:15am Nov 11, 2009 4:15am
Quoting fxachilies
I swing both ways.. lol (don't get any wrong ideas now..)
i stay flexible with the price by just following his lead, we got a live market in hand.. I got a reentery and reversal order inplace.. and now sitting pretty with max profit taking on top earlier by sticking to the plan and playing flawless #1..
guys don't get to hung up with the runners mentality.. if its not there then dont force it.. the plan shows u the way.. take profit when it tell u too and let it run when it tells u too..
by the way if you missed out to ply #1 the first time...

So FX you think I am wrong to still be long bro?
  • #10,622
  • Nov 11, 2009 4:19am Nov 11, 2009 4:19am
Quoting FOURX
hey guys,

so the question i posed about 40min ago, only fx would have reversed immediately............others would want to see prolonged range, and posssibly miss the early entry
Hi 4X,

I would have reversed immediately. I take every setup I see. I only take into account to not hallucinate with small FCRs, and to be extra reactive (2G+) with 123D and FCR2.

In this case was a double (or multiple) top, so I have orders at top for going long and bellow 5025 for going short.
  • #10,623
  • Nov 11, 2009 4:21am Nov 11, 2009 4:21am
Quoting FOURX
hey guys,

so the question i posed about 40min ago, only fx would have reversed immediately............others would want to see prolonged range, and posssibly miss the early entry
Thinking about it fx is correct, one can always play the defensive rule if a fakeout develops, but for some reason i am struggling to think it will do a runner immediately in the opposite direction after a good run up, and thought i did read a post regarding this so apologies for setting anyone crook!

HR
  • #10,624
  • Nov 11, 2009 4:23am Nov 11, 2009 4:23am
There is one certainty here - and you can count on it - it will definitely go up or it will go down - and you can be 100% certain of that.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #10,625
  • Nov 11, 2009 4:27am Nov 11, 2009 4:27am
Quoting DesertFX
So FX you think I am wrong to still be long bro?
Took profit at 1.5024.

Now short at 1.5022.

Lesson learnt here ... I didnt listen to my plan ... I played #1 ... however held on for too long. Failure at the top lock in profit can always reenter again. Opportunity cost = 10 - 15 pips.

However this is an amazing way to learn. These lessons get engrained in one's mind.

Hopefully the more I play the more I become proficient.
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  • #10,626
  • Nov 11, 2009 4:28am Nov 11, 2009 4:28am
  •  leemo
  • | Joined Oct 2009 | Status: Frankie Howard lives on... | 42 Posts
Quoting mac1956
There is one certainty here - and you can count on it - it will definitely go up or it will go down - and you can be 100% certain of that.
Hi Mac,

I read earlier that you were trading using igindex's spreadbet platform. Are you still using this? I would prefer to use MT4 but spreadbetting does have its advantages. How do you find their customer service?

Thanks
  • #10,627
  • Nov 11, 2009 4:30am Nov 11, 2009 4:30am
Good morning

got bored of longer time frames (except daily) ...got back to my evil ways

Yes, I trade depending on my mood....

Hope you got that long tail last night... I traded currencies/gold and bonds....they were awesome.

Shorting Eur as we speak....

.
Peace
  • #10,628
  • Nov 11, 2009 4:37am Nov 11, 2009 4:37am
Quoting feb2865
Good morning

got bored of longer time frames (except daily) ...got back to my evil ways

Yes, I trade depending on my mood....

Hope you got that long tail last night... I traded currencies/gold and bonds....they were awesome.

Shorting Eur as we speak....

.
Hey Feb ... where you been man? We barely see you speaking to us anymore ))
  • #10,629
  • Nov 11, 2009 4:41am Nov 11, 2009 4:41am
Quoting DesertFX
Hey Feb ... where you been man? We barely see you speaking to us anymore ))
I have 3 open classrooms plus the boy's chatroom. But today they took the day off(the students)......My girlfriend already put me in the list for shit mart so I have no choice... But that's like some hours from now so I'll be bugging you a lil' meanwhile.
Peace
  • #10,630
  • Nov 11, 2009 4:41am Nov 11, 2009 4:41am
Quoting DesertFX
Took profit at 1.5024.

Now short at 1.5022.

Lesson learnt here ... I didnt listen to my plan ... I played #1 ... however held on for too long. Failure at the top lock in profit can always reenter again. Opportunity cost = 10 - 15 pips.

However this is an amazing way to learn. These lessons get engrained in one's mind.

Hopefully the more I play the more I become proficient.

Played #2g ... stopped out at -15 ... not played very well as should not let it ride more than -10 pips.

I am still trying to tweek my entries and exits.
  • #10,631
  • Nov 11, 2009 4:43am Nov 11, 2009 4:43am
Today has been a truly humbling experience.
  • #10,632
  • Nov 11, 2009 4:44am Nov 11, 2009 4:44am
Quoting feb2865
I have 3 open classrooms plus the boy's chatroom. But today they took the day off(the students)......My girlfriend already put me in the list for shit mart so I have no choice... But that's like some hours from now so I'll be bugging you a lil' meanwhile.
Good on ya Feb, we're alway gracious to have you here!!!!

HR
  • #10,633
  • Nov 11, 2009 4:46am Nov 11, 2009 4:46am
Quoting DesertFX
Played #2g ... stopped out at -15 ... not played very well as should not let it ride more than -10 pips.

I am still trying to tweek my entries and exits.

Sorry man, but i was expecting this...

HR
  • #10,634
  • Nov 11, 2009 4:52am Nov 11, 2009 4:52am
Quoting DesertFX
Played #2g ... stopped out at -15 ... not played very well as should not let it ride more than -10 pips.

I am still trying to tweek my entries and exits.

I know you guys tend to stick with the very basic setups (and do really well with it), but that short entry was sitting right on top of a 48 hour Bracket. Very unlikely it would break down with any strength and very likely it would be support.

I've been reading System I while I wait for this last Bracket to bust, and Feb's comments there about going down a timeframe to check entries made me look to M1, and it's so easy to see there.

Also go up to M30 and H1 and you can see the short setup you were waiting for was a long pullback to obvious support on those timeframes (ie top of 48 hour Bracket).

Just some thoughts.
  • #10,635
  • Nov 11, 2009 4:54am Nov 11, 2009 4:54am
Quoting highroller
Good on ya Feb, we're alway gracious to have you here!!!!

HR
thanks man!!!
Peace
  • #10,636
  • Nov 11, 2009 5:10am Nov 11, 2009 5:10am
Quoting highroller
Sorry man, but i was expecting this...

HR
Thanks buddy ... do you mean its natural for a newcomer to be feeling and experiencing this?
  • #10,637
  • Nov 11, 2009 5:13am Nov 11, 2009 5:13am
OK, has everyone got their long orders in at 5049?
Not me as being in NZ it's after midnight, so need sleep, but i am dedicated,
along with everyone here, so we can kick the day time job given time!

Good trading to all!

HR
  • #10,638
  • Nov 11, 2009 5:15am Nov 11, 2009 5:15am
Have gone long at 1.5049
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  • #10,639
  • Nov 11, 2009 5:24am Nov 11, 2009 5:24am
Quoting DesertFX
Have gone long at 1.5049
Stopped out at -11
  • #10,640
  • Nov 11, 2009 5:28am Nov 11, 2009 5:28am
Summary thus far:

+37
-15
-11

Net = +11
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