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The System II (Yes with irony)

  • #10,641
  • Nov 11, 2009 5:30am Nov 11, 2009 5:30am
Quoting DesertFX
Thanks buddy ... do you mean its natural for a newcomer to be feeling and experiencing this?
hey Desert,

You're doing so well, keep up the good work, we're all learning here and we will crack it if we stick to the plan, and those feelings won't go away you just keep them in track, just ask mac on a monday morning..lol
Hats off to all those that have contribute on a regular basis for us to learn...you know who are you...you are the legends!

HR
  • #10,642
  • Edited 5:55am Nov 11, 2009 5:36am | Edited 5:55am
Quoting leemo
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

Excellent - but be aware that bets get closed around 8 pm daily so it's wise to be out for half an hour either side of the time. Charting is crap so you'll need to use MT4 - I use Sierra Chart.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #10,643
  • Nov 11, 2009 5:41am Nov 11, 2009 5:41am
Quoting SittingDuck
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...
was going short wise? ummmmmmmm.. i dont know.. was it not going short wise? ummmmmmm.. I dont know.. .. u get the point..
the fact of the matter is who the hell knows..
but I do know that crossing our eyes over toomany timeframes and watching the histrory channel, lol.. will creat all kinds of problems.. second guessing is one to start with..

anyhow.. u must be out of your mind talking about this stuff in here.. this thread clearly is not for u..
48hrs ago... give me a break.. BB are meant to be broken.. sup/res and meant to be teared.. lol..

Good luck buddy..
  • #10,644
  • Nov 11, 2009 5:41am Nov 11, 2009 5:41am
US banks will be closed in observance of Veterans Day...note.
  • #10,645
  • Nov 11, 2009 5:46am Nov 11, 2009 5:46am
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.

Hey Feb

I am curious about these open classrooms you speak of. Are these online ? Who do we have to kill to get in on that ?
"Save your ass, then go for profit"
  • #10,646
  • Nov 11, 2009 5:52am Nov 11, 2009 5:52am
Quoting highroller
hey Desert,

and those feelings won't go away you just keep them in track, just ask mac on a monday morning..lol

HR
Monday morning's are not a pretty sight
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$urvive, Pre$erve & RESPECT THE TEACHER
  • #10,647
  • Nov 11, 2009 5:59am Nov 11, 2009 5:59am
Quoting mac1956
Excellent - but be aware that bets get closed around 8 pm daily so it's wise to be out for half an hour either side of the time.
Hi Mac and Leemo,

Maybe I can help you regarding spreadbetting as I have actually worked for one of the larger ones.

First up, please be careful as they exist to take YOUR money and prices are manipulated within the the realms of what is considered as being acceptable manipulation

I will give you an example, when the marke is booming upwards, there is sramble to get on - we can see this in the price action of candles - now what their "dealers" do is they push the price even ratyer than spot or the index depending on what it is you are trading, this means you get locked in at very unfavourable prices towwrads the ends of moves both ways and on breakouts both ways.

As we know we trade breakouts here and they will stuff you price wise. See this break to the upside we had at 1.5045 well I bet that when people on here took it at 1.5045 the "dealers" in the spreadbet co`s had already pushed [price to 47 or 48..... you get my drift.

My advice - forget any advantage of tax benefts via using them on a method likw this on a 5 min time frame. If you are doing the same on daily or another TF - not for here obviously - but then you will have more luck. But when you start winning they will monitor every trade you do - you will get the egg timer when you hit buy - they will then check your account and decide what price they will give you or whether or not you can trade. I could go on...........

Trust me I am a himble beats as people on this thread know, but U hate to see people lose their hard earned cash. MT4 brokers are bad enough but Spread bet are even worse. For those of you who are UK, hink about this, everytime you go racing to Ascot and they have a sponsor day from the spread bet boys, all the shamppooo and strawberries they are downing is your money so are the Aston`s in the car park so are the very fancy woman they carry around - all paid for by you. Etc etc I could go on...

One last thing, the other day someone aid something about this not being a war well guys I am sorry I disagree it is a very hard business, I am witha top bank and they are all ars.holes and the public is paying them - there are so many cons going on you would not believe it.

To come back to earth. Short term trading like this, the SP guys will eat you alive.

I personally prefer the CME and a straight forward futures contract for those with less amunition they now have smaller size contracts - at least you are betting against a liquidity bank not some guys who are racking up their profits to buy another street of houses in Earls Court ( I am not joking) - yes a street.. I will stop as I am way off subject.

God luck to all .
Survive and Preserve
  • #10,648
  • Nov 11, 2009 6:10am Nov 11, 2009 6:10am
Quoting Paul M
Hey Feb

I am curious about these open classrooms you speak of. Are these online ? Who do we have to kill to get in on that ?
LOL....I'LL let U know guys when I begin a new one....Yes I use skype...
Peace
  • #10,649
  • Nov 11, 2009 6:16am Nov 11, 2009 6:16am
Quoting fxachilies
was going short wise? ummmmmmmm.. i dont know.....
Been reading your posts for too long to take your attitude personally

As I said I've been reading Feb's other threads and it was a play he talks about using against others To quote:"Plays devil's game and place resting orders on key levels to screw all this "system followers" traders....oh boy that's "evil"...I think I am talking too much hahahahahaha"

Despite the "With Irony" you guys have turned this into a system. A precise set of rules that you need to follow to the letter. Think about it.

So far 123S and BB are working for me. I need to practice FCR's and the defensive plays more, but this is working. It's a system that I think I can work with.

I'm just not convinced that you need to take every play in hope. It's not the best way to increase expectancy. Taking the highest probability plays is, along with the defensive plays that you seem to have down to a tee. Just suggesting that there may be an opportunity to improve the probability.

Take it as you will. It's no skin off my back either way.

Good luck, and good trading.
  • #10,650
  • Nov 11, 2009 6:17am Nov 11, 2009 6:17am
Quoting mac1956
Monday morning's are not a pretty sight
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.. u and ur pictures always Macdaddy.. lol
  • #10,651
  • Nov 11, 2009 6:23am Nov 11, 2009 6:23am
Quoting feb2865
LOL....I'LL let U know guys when I begin a new one....Yes I use skype...
Please Feb let me know too.

I am already loving playing this Tango of FX ... today has been a truly thrilling day.

I dont care about the loss or profit right now ... I want to just get the game right and hopefully the profit will ride with me.
  • #10,652
  • Nov 11, 2009 6:24am Nov 11, 2009 6:24am
Quoting PaulLangham
Hi Mac and Leemo,

- you will get the egg timer when you hit buy - they will then check your account and decide what price they will give you or whether or not you can trade. .
Interesting insight this....So when I hit buy/sell or place an order and there's a delay in it filling, and I get an extra 2 pips added to my price are you saying this is not an internet issue but is an adjustment by Igindex?

I don't notice this when the market is slow or nice stready momentum, but I do when there are sudden movements and I am getting in manually (I like to ride the button especially for BBs). I had put this down to the sheer load of trading requests at that point and the system having to queue them up to cope.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #10,653
  • Nov 11, 2009 6:25am Nov 11, 2009 6:25am
Quoting fxachilies
.. U and ur pictures always macdaddy.. Lol

you think i'm kidding? I look better once my teeth are back in and the glass eye calibrated
$urvive, Pre$erve & RESPECT THE TEACHER
  • #10,654
  • Nov 11, 2009 6:42am Nov 11, 2009 6:42am
Quoting mac1956
you think i'm kidding? I look better once my teeth are back in and the glass eye calibrated
ur gonna cost us big in vegas... must triple pay her.. .. lol
  • #10,655
  • Nov 11, 2009 7:28am Nov 11, 2009 7:28am
FX ... what you make of my performance today big guy?
  • #10,656
  • Nov 11, 2009 7:39am Nov 11, 2009 7:39am
Gone short here at 1.50155 ........ defensive play #2g
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  • #10,657
  • Nov 11, 2009 7:45am Nov 11, 2009 7:45am
Quoting DesertFX
Gone short here at 1.50155 ........ defensive play #2g
Fakeout ... playing #2g
  • #10,658
  • Nov 11, 2009 7:54am Nov 11, 2009 7:54am
  •  leemo
  • | Joined Oct 2009 | Status: Frankie Howard lives on... | 42 Posts
Quoting PaulLangham
Hi Mac and Leemo,

Maybe I can help you regarding spreadbetting as I have actually worked for one of the larger ones.

.
Thanks paul, I knew spreadbetting companies use there own market but I didn't know they they rigged it that badly
  • #10,659
  • Nov 11, 2009 7:55am Nov 11, 2009 7:55am
Quoting mac1956
Interesting insight this....So when I hit buy/sell or place an order and there's a delay in it filling, and I get an extra 2 pips added to my price are you saying this is not an internet issue but is an adjustment by Igindex?

I don't notice this when the market is slow or nice stready momentum, but I do when there are sudden movements and I am getting in manually (I like to ride the button especially for BBs). I had put this down to the sheer load of trading requests at that point and the system having to queue them up to cope.

Yea - 2 pips sperad is standard but each trade ebtered oer a certain size is monitored by a "dealer". When we have fast markest they set their price ine front or ahead of the actual market price - why ? because we all know that the whole thing works on human emotions - and at the point when everyone is buying isthe point when everyone should be selling. They are on the other side and need to pay for those Aston`s so they push the price even more - to an extremely disadvantageous price for you.

Acceptable manipulation of price in other words.

Hope this helps.
Survive and Preserve
  • #10,660
  • Nov 11, 2009 7:57am Nov 11, 2009 7:57am
Quoting DesertFX
Fakeout ... playing #2g
Closed at -6 ... price action stalling too much. Will keep testing and testing till I get it hopefully.
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