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The System II (Yes with irony)

  • #10,801
  • Nov 12, 2009 1:15pm Nov 12, 2009 1:15pm
Quoting feb2865
Guys.

For the classroom, is imperative to leave your own personal e-mail. Right now I am putting on a list those with e-mail addresses.

One thing I want to make clear - we will keep this thread alive. I am grateful to twee which is my dear friend and the big daddy here ta FF, for the opportunity but we need to abide the rules. I am not selling books nor putting up a website to sell anything. I will explain in details how we're going to deal with the classroom so we keep everything orderly.

I will let you know the subject(s) we're discussing...
feb, how might I contact you since junior members can't pm
thanks, drob
  • #10,802
  • Nov 12, 2009 1:49pm Nov 12, 2009 1:49pm
Hi Feb
Dido's on all the expressions of gratitude.....in my 5 years of trading and following many courses and guru's, never have I come across a simpler easy to follow method......MORE importantly never with such a patient respectfull, calm lead as yourself. It's quit refreshing and encouraging, many thanks.
Also I am new to forex factory and limited to just posting as a newbei....I can not pm you with my email....I would greatly like to be a part of your room, but I have no way of giving you my email...unless I post it here....which is ok with me....I dont know what the policy is for such....anythought
Thx again one way or the other...truly been a great thred
  • #10,803
  • Nov 12, 2009 1:51pm Nov 12, 2009 1:51pm
Hi fxachilie
Thanks for the links....will check those out and get onboard
Thx again
  • #10,804
  • Nov 12, 2009 2:12pm Nov 12, 2009 2:12pm
Quoting feb2865

This is not a pure ERU/USD thread. I made that my personal choice. You're welcome to trade those pairs I mentioned and post charts if you like.
Is this "official"?
Are GBPUSD, AUDUSD, USDCHF welcome here
  • #10,805
  • Nov 12, 2009 2:54pm Nov 12, 2009 2:54pm
Feb,

Thanks for these suggestions I really appreciate the feedback, I will look at these pairs straight away. I'm just trading on a demo account at the moment and learning from this thread as I go. I will definitely contribute and post some charts when I get to the end of the thread and get fully updated as I want to avoid covering topics that have already been covered and allow for everyone to get the most from the content of the thread.

Thanks again and I look forward to catching up and joining in!

Reesy


Quoting feb2865
Reesy

Welcome to the family. Please feel free to bring any doubts - concerns etc.

In your particular case, the AUS/USD (the aussie) has decent volatility during your trading time. The loonie USD/CAD also bring some decent volume during this time. If you're in a mood for range trading, then EUR/CHF is the best of the breed.

This is not a pure ERU/USD thread. I made that my personal choice. You're welcome to trade those pairs I mentioned and post charts if you like.

If you trade any pair during your available time, pay close attention to...
  • #10,806
  • Nov 12, 2009 3:31pm Nov 12, 2009 3:31pm
Hi feb,fxachiles

I have taken almost 2 months to read through this thread in its entireity (3 times).

In order to offer my thanks for all your efforts, I have had to take the drastic step of registering as a member.

Seeing that I have taken this step,and I am now able to post. I will try to contribute when I feel its appropriate.


THANK YOU
  • #10,807
  • Nov 12, 2009 3:48pm Nov 12, 2009 3:48pm
Quoting FOURX
your view,and your entitled to it, i'm sure others may have agreed with me and some not, but you see the thing is i will post my thoughts, i guess you call it honesty.
Guys, I was occupied all day today so have only just stated looking the thread and am flabbergasted to see the reaction my couple of lines caused - to all this was seriously not the intention. No offence taken or meant - PM`s of apologies etc have been sent and received from and to all and thats the end of it as far as I am concerned - if someone wants to critic what I am doing chart wise or anything trading wize please feel free.

As regards today , in anycase I could not trade today as the neighbour keeled over and died which sort of kept me busy all day - so no stinking hindsight charts tonight LOL
Survive and Preserve
  • #10,808
  • Nov 12, 2009 3:51pm Nov 12, 2009 3:51pm
Quoting fxachilies
on the short run..
played If and Then.. got ride of the long fakeout loser for -7.. and now short on a possible runner.. lets see if i can pull a paulie...

oh I miss my pal PaulL already.. come back to the family bud.

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

Hey Fx, u didnt think you wree gonna get rid of me that easily did you my friend LOL

I gonna pose you a question in a minute - not a "critic" which is what you asked for - just so that we can get proper debate and understanding going agin, which is what the Feb system II family is all about - hopefully people will benfit from the dicussion and answer.
Survive and Preserve
  • #10,809
  • Nov 12, 2009 4:10pm Nov 12, 2009 4:10pm
fxachilie
Hey...been going thru all the list of post you sugested to go thru....this is great....You realy put a lot of work going thru and isolating important things......thx so much....I also do appreciate your lead (even if it comes with an attitude some times).....I do think you are doing nice things here as well thx again.
  • #10,810
  • Nov 12, 2009 4:19pm Nov 12, 2009 4:19pm
  •  leemo
  • | Joined Oct 2009 | Status: Frankie Howard lives on... | 42 Posts
Quoting PaulLangham
Hey Fx, u didnt think you wree gonna get rid of me that easily did you my friend LOL

I gonna pose you a question in a minute - not a "critic" which is what you asked for - just so that we can get proper debate and understanding going agin, which is what the Feb system II family is all about - hopefully people will benfit from the dicussion and answer.
Hi Paul,
Nice to see you posting again.
  • #10,811
  • Nov 12, 2009 4:26pm Nov 12, 2009 4:26pm
nice thread here
  • #10,812
  • Nov 12, 2009 4:26pm Nov 12, 2009 4:26pm
Quoting fxachilies
before i go to bed finally.. i want to leave u guys with this..

I call out each and everyone of you...


Goodnight..
Hey Fx,

First up, just so that we don`t get things wrong - this is not a critic, we don`t need that here, this is a question which hopefully might bring some learning or raise another question which might help one or all of us.

I am not going to go down yesterdays road about my trades - but I do want to use an example of one of the type of trades I have done recently to pose the question, open the discussion and or get your reaction or anyone else`s if they feel they would like to contribute .

First diagram - let`s take upside - of course the example will work for downside as well.



So first example is what we would all like to play all day long, please correct if anything incorrect in my assessment - Long on the break, nice 30 pip run up one extra push to the top - push fails - market moves down breaks FCR - out on the break and short 3 pips lower - easy right OK thats what we would like but as we know Mr Market does not always give what we want.

Second example and I make no secret of the fact this example is based on where it all went wrong yesterday.

Same long entry and same number of pips - except this time we get a very tight range for a bit which extends a little more, but time goes on and price doesnot really retract - thinking now of the original Feb quote concerning the actual retracement amount - OK we don`t measure but larger retracement more chance of double top failure or not even double top. So here we have say 10 pip retracement gradually extending, whcih is small, but never pulling back 50% or any of those silly numbers they all use . So I am thinking upsides and pip saving.

At this point I have two things in my head based on what we already said back in the thread - I can stay where I am in the knowledge that I am long from down below, keep out of the heat - accept that price can`t retrace very much seems supported and the longer it goes on we should get upside - an attempt at it at least OR I can say play pure FCR reversal take the most important one I can find say point 2, take that one get faked out then reverse again into the upside as price takes off again north.

Now this is my question how to resolve the juxtapsotion between taking the reversal - to quote you "You believe in this trade" answer "Sure I do if the reversal signal is properly defined" as opposed to what we have said and that is save pips during these range patterns, keep out of the heat and wait for at least the second push to the upisde and maybe the break north again.

OK so as you can see no critic, cos that won`t get us anywhere - but hopefully an intelligent question which will get people thinking

I am fully exepcting you to say there is no right nor wrong answer LOL

Just finally this is something which caused me an issue yesterday and it is obvious that sometimes I do one thing and sometimes another. Which I think u will have gathered.
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Survive and Preserve
  • #10,813
  • Nov 12, 2009 9:23pm Nov 12, 2009 9:23pm
Quoting PaulLangham
Hey Fx,

First up,...
As you invited anyone to contribute,

I am reading over and over and I perceive that your problem is what to do when the market goes in a range while you in a trade.

A true cold hard fact is that ALL markets goes in a range due lack of volume. The disadvantage spot trades has is no way to quantify volume. My opinion, screw the volume, will only make your trade on your toes.

In my experience....all the time...the market is up for grabs when it gets on a range. In that particular graphic you posted, assuming you bagged 30 pips already, and now with the fact that you know anything could happen on a range.....what would you do?

1) A B/E trade? Of course you're not gonna let that winner turn into a loser...

2)Close the trade, take the bounty and look for a re-entry??


If you chose # 1 is not a big deal. You play defense and that's completely valid. There will be another bus somewhere down the road.


#2 is a bit tricky. See, as we already established that the market is up for grabs, anything goes. So, here's the deal.

a) you re-entry at the same direction as you were - but....what if is a fakeout?....could be the end of the move - some sharks faking out to get new fresh meat. A very common pattern.

b) you re-entry in a new direction possible fcr and everything...oh yeah that's cool....but what if is just a hiccup form the original move???? Could be stops getting hit (possible sharks involvement...yeah baby!)

This is what I do......always do in a case like this (yes my personal biased view and action)

I bail out brother......30 pips in my back are goood....yes.

Whatever the market do next, I 'll sit on my hands until I see a clear cut, quantifiable move. Then I play accordingly....there's no rush I already bagged 30 pips. I have the upper hand.

If I can quantify the move, I could get on a trade but there's something I do...always do...

I cut my load. Yes baby, I already have some $$$ in my pocket. Risking the same load is a big mistake...as I stated, I don't know what's next....not even if I could quantify a move , I could get on a a bull/bear trap( yes sharks induced traps). Many times I cut my load in half...but you can go as high as 3/4 and will be fine.

My mentor told me many times "you're not a trader but a capital preservationist"

Having complete control on my load plus having some $$$ on my side are big winners on a psychological level. Instead of chasing the market (like many traders do) I'll wait patiently for the swing.

I suggest don't dwell into market signals. Instead, read their intentions. At the beginning of this thread, on my first chart posted, I stressed many times the importance of quantifying the initial move - impulse. Evidently, this initial swing is coming from a period of consolidation. Somebody is taking one side of the market...sometimes in anger. This is where you want to be.

In the 2nd graph, the moves within the range are irrelevant. I can't read the market that way. I need a swing...a reasonable one.

A range really lies in the eyes of the beholder. Lack of interest, traders on hold to let the stops go, I mean.....I can make you a huge list. But there's no volume = light trading. That's for sure.

Sometimes I hold in ranges. It all depends. Pretty much all comes down on how much I have bagged already.
Peace
  • #10,814
  • Nov 12, 2009 11:10pm Nov 12, 2009 11:10pm
Feb,

Which futures do you look when you trade EURUSD? Full EC or mini ZE?

Thanks,

/t
  • #10,815
  • Edited 1:06am Nov 13, 2009 12:36am | Edited 1:06am
Morning guys.
Trades set up both sides of the range
Long: 1.48778
Short: 1.48433

Good trading today to you all

- removed long order due to eur red news
  • #10,816
  • Nov 13, 2009 1:07am Nov 13, 2009 1:07am
iak,

Can you post a picture?
  • #10,817
  • Nov 13, 2009 1:22am Nov 13, 2009 1:22am
Quoting feb2865
As you invited anyone to contribute,

My mentor told me many times "you're not a trader but a capital preservationist"

Having complete control on my load plus having some $$$ on my side are big winners on a psychological level. Instead of chasing the market (like many traders do) I'll wait patiently for the swing.

I suggest don't dwell into market signals. Instead, read their intentions. At the beginning of this thread, on my first chart posted, I stressed many times the importance of quantifying the initial move - impulse. Evidently,...
Thanks again Feb. This is a key post. Also a testament to the value brought by PaulLangham to this thread.

I'm now a fully paid up life-member of the CPS - the Capital Preservation Society.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #10,818
  • Nov 13, 2009 1:24am Nov 13, 2009 1:24am
Quoting PaulLangham
Guys, I was occupied all day today so have only just stated looking the thread and am flabbergasted to see the reaction my couple of lines caused - to all this was seriously not the intention. No offence taken or meant - PM`s of apologies etc have been sent and received from and to all and thats the end of it as far as I am concerned - if someone wants to critic what I am doing chart wise or anything trading wize please feel free.

As regards today , in anycase I could not trade today as the neighbour keeled over and died which sort of kept...

Sorry to hear about your experience yesterday.

Welcome back Buddy - the kerfuffle was evidence of how much affection and value put on your contributions dear chap. You belong in the Family.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #10,819
  • Nov 13, 2009 1:36am Nov 13, 2009 1:36am
Quoting tghfbt8
iak,

Can you post a picture?
Hello mate, heres a picture of what i doing at mo

Attached Image (click to enlarge)
Click to Enlarge Name: fri.png Size: 33 KB
  • #10,820
  • Nov 13, 2009 1:42am Nov 13, 2009 1:42am
Quoting PaulLangham
Guys, I was occupied all day today so have only just stated looking the thread and am flabbergasted to see the reaction my couple of lines caused - to all this was seriously not the intention. No offence taken or meant - PM`s of apologies etc have been sent and received from and to all and thats the end of it as far as I am concerned - if someone wants to critic what I am doing chart wise or anything trading wize please feel free.

As regards today , in anycase I could not trade today as the neighbour keeled over and died which sort of kept...
My condolences.

Just wanted to say that it's great to still have you around.
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