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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)

  • #11,001
  • Nov 17, 2009 9:18am Nov 17, 2009 9:18am
Quoting gevellber02
short at 4851 BB
out -17
it's a huge gap tony, a huge gap.
  • #11,002
  • Nov 17, 2009 9:25am Nov 17, 2009 9:25am
Quoting gevellber02
out -17
hi,i had a pending sell @4849,it was triggered,still holding,my sl above 4875,will see
Money is made by sitting, not trading. Jesse L. Livermore
  • #11,003
  • Nov 17, 2009 9:28am Nov 17, 2009 9:28am
Thanks Mac! And it is really great to be here!
You wont survive without preserving!!!
  • #11,004
  • Nov 17, 2009 9:30am Nov 17, 2009 9:30am
Quoting sam69
hi,i had a pending sell @4849,it was triggered,still holding,my sl above 4875,will see
I was catching up on the posts while I wait for another entry and read your post and signed in to ask a simple question? Why are you putting your stop loss at 4875?
I make money anywhere in the world by taking orders
  • #11,005
  • Nov 17, 2009 9:34am Nov 17, 2009 9:34am
Quoting feb2865
Please be careful - as you choose to trade more than one pair, both, the risk and the profit will be spread out.
Feb! You are most likely right. For the sake of risk control and also being in tune with everyone here I ll just stick to EURUSD for the time being. Also looking at the charts it has less noise on 5 min than anything else, even in time of news. When it is choppy I can just stay aside.
You wont survive without preserving!!!
  • #11,006
  • Nov 17, 2009 9:37am Nov 17, 2009 9:37am
Shorted again at 1.4851
You wont survive without preserving!!!
  • #11,007
  • Nov 17, 2009 9:38am Nov 17, 2009 9:38am
tasting the short at 4844
it's a huge gap tony, a huge gap.
  • #11,008
  • Nov 17, 2009 9:40am Nov 17, 2009 9:40am
Quoting SedonaPipper
I was catching up on the posts while I wait for another entry and read your post and signed in to ask a simple question? Why are you putting your stop loss at 4875?
hi,
i put my sl above the broken TL from H4 in case of retest,its just my thought,i'm a newbie
btw. i'm out +3pips,priceaction was not good for me,anything can happen because of news
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Money is made by sitting, not trading. Jesse L. Livermore
  • #11,009
  • Nov 17, 2009 9:40am Nov 17, 2009 9:40am
Hi guys, got bit distracted by my 2 yr old!!

back now. short on a D123 at 1.48421
  • #11,010
  • Nov 17, 2009 9:42am Nov 17, 2009 9:42am
Quoting gevellber02
tasting the short at 4844
sl at BE got to leave the pc
good luck
it's a huge gap tony, a huge gap.
  • #11,011
  • Nov 17, 2009 9:49am Nov 17, 2009 9:49am
Quoting sam69
hi,
i put my sl above the broken TL from H4 in case of retest,its just my thought,i'm a newbie
btw. i'm out +3pips,priceaction was not good for me,anything can happen because of news
I know you are a newbie based on what you did - in truth so am I but I am giving back what I learned to help you - so lets go back - we do not use trend lines on this thread - too distracting - we do not use 4 hour charts on this thread - wrong style of trading - The correct stop loss on this trade was 2G+ which means you would have gotten out with a small loss (10 pips) - now granted your choice to stay in looks good now but we had a great possiblility of an entry at 4975 long which you would have missed. This is not meant to be harsh - just see that you are missing the point of this style of trading -
I make money anywhere in the world by taking orders
  • #11,012
  • Nov 17, 2009 9:52am Nov 17, 2009 9:52am
Attached Image


got too excited!! out +4
continuation order placed
  • #11,013
  • Nov 17, 2009 9:55am Nov 17, 2009 9:55am
Out at 1.4829 for a +22. Second winning trade today. Thanks Feb and everyone!
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You wont survive without preserving!!!
  • #11,014
  • Nov 17, 2009 9:58am Nov 17, 2009 9:58am
Quoting coronajazz
Out at 1.4829 for a +22. Second winning trade today. Thanks Feb and everyone!
Well done mate, good trading to you
  • #11,015
  • Nov 17, 2009 10:01am Nov 17, 2009 10:01am
Quoting SedonaPipper
I know you are a newbie based on what you did - in truth so am I but I am giving back what I learned to help you - so lets go back - we do not use trend lines on this thread - too distracting - we do not use 4 hour charts on this thread - wrong style of trading - The correct stop loss on this trade was 2G+ which means you would have gotten out with a small loss (10 pips) - now granted your choice to stay in looks good now but we had a great possiblility of an entry at 4975 long which you would have missed....
sorry,i'm new to this thread also and to be honest i havn't read the whole thread,just by begining,but i will study the strategy,many thanks for your advice,sorry what exactly is 2G+?,but i'm happy to hear that,small losses and don't care about H4 and TL etc.,thank you again!
Money is made by sitting, not trading. Jesse L. Livermore
  • #11,016
  • Nov 17, 2009 10:11am Nov 17, 2009 10:11am
Quoting sam69
sorry,i'm new to this thread also and to be honest i havn't read the whole thread,just by begining,but i will study the strategy,many thanks for your advice,sorry what exactly is 2G+?,but i'm happy to hear that,small losses and don't care about H4 and TL etc.,thank you again!
2G+ or G+ or what ever you want to call it - is a defensive stop loss that preserves your capital and gives you control instead of having the market control you. It was introduced by the great and wonderful FX on a post a couple of weeks ago - Since then I have been in control with my trade management and finding it much more satisfying knowing I have a defined stop loss before I enter a trade so that I don't have think about or second guess whats happening, feel the urge to move my stop loss, wring my hands, get anxious or fear losing a few pips to Mr. Market.
I make money anywhere in the world by taking orders
  • #11,017
  • Nov 17, 2009 10:16am Nov 17, 2009 10:16am
Quoting sam69
sorry,i'm new to this thread also and to be honest i havn't read the whole thread,just by begining,but i will study the strategy,many thanks for your advice,sorry what exactly is 2G+?,but i'm happy to hear that,small losses and don't care about H4 and TL etc.,thank you again!
A 2G+ is a defensive approach to BB and D123. These are more lively trades with a higher chance of getting faked out. to deal with these we watch how price reacts to the level line if faked out (not your entry line). if price shooting up past level line we bail without hesitation. if price stall around here then we keep our finger ready to bail but give it a chance to go back in our favour (which is what i shld have done on last trade but didnt). A #2 def approach wld be to let price try and get back to our entry and then get out near to BE unless there is lots of momentum in your favour. the level line is 5pips before entry. hope this helps and not just waffle lol!

lol, looks like already been answered.
  • #11,018
  • Nov 17, 2009 10:22am Nov 17, 2009 10:22am
Appreciate the better defined stop loss strategies.
I make money anywhere in the world by taking orders
  • #11,019
  • Nov 17, 2009 11:37am Nov 17, 2009 11:37am
Quoting feb2865
Just a reminder guys.

"The trend" is pretty much a macro view of the current market situation. We pretty much trade in short -confirmed changes AKA swings, which are not related to higher moves (trends...tendencies etc.) I have some post on that subject....

What is AKA swings, I am reading the thread from beginning but still on initial pages.... can Feb please or any body explain what is AKA swing?
  • #11,020
  • Nov 17, 2009 11:41am Nov 17, 2009 11:41am
Quoting 786 trading
What is AKA swings, I am reading the thread from beginning but still on initial pages.... can Feb please or any body explain what is AKA swing?
AKA stands for "Also known as",
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