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System 2 (AUD trading)

  • #101
  • Nov 18, 2009 6:27pm Nov 18, 2009 6:27pm
Eish, everything is made to be broken but no harm in watching it closely.

Quoting shodd
Yen and Euro down after Tokyo open which suggests that USD is driving this move (as per usual really). Euro is at 50 at the moment, which is causing the other 2 pairs to stutter. Be nimble...
Survive and Preserve
  • #102
  • Nov 18, 2009 6:32pm Nov 18, 2009 6:32pm
Out @ 62 for a neat 20. Next...
Leonardo Follower
  • #103
  • Nov 18, 2009 6:34pm Nov 18, 2009 6:34pm
9270 was my tp, 12 pips maybe too early
  • #104
  • Nov 18, 2009 6:34pm Nov 18, 2009 6:34pm
Dont like that big candle, closed +17

Quoting en0x
Eish, everything is made to be broken but no harm in watching it closely.
Survive and Preserve
  • #105
  • Nov 18, 2009 6:35pm Nov 18, 2009 6:35pm
What was your reason for 62?

Was it based on a target or some other reason?

Quoting shodd
Out @ 62 for a neat 20. Next...
Survive and Preserve
  • #106
  • Nov 18, 2009 6:36pm Nov 18, 2009 6:36pm
Quoting John888
Morning, looks like we're both short now at 9282.
Got out at 9270, maybe early but ....
testing the market
  • #107
  • Nov 18, 2009 6:37pm Nov 18, 2009 6:37pm
Quoting shodd
Out @ 62 for a neat 20. Next...
very nice
  • #108
  • Nov 18, 2009 6:39pm Nov 18, 2009 6:39pm
Quoting en0x
What was your reason for 62?

Was it based on a target or some other reason?
Buyers started hitting the ask with more force.
Leonardo Follower
  • #109
  • Nov 18, 2009 6:51pm Nov 18, 2009 6:51pm
thats it for me for tonight, c u later
  • #110
  • Nov 18, 2009 6:53pm Nov 18, 2009 6:53pm
No, this is wrong wrong wrong....
we play number 1 if price goes over 10 pips, simple. I played this WRONG .


Order set for 09258 for reentry.

This is never going to work(testing) unless I play number 1 properly. Sorry guys, bad exit on my half. I am to test playing number 1, not targets or anything else.

Quoting en0x
Dont like that big candle, closed +17
Survive and Preserve
  • #111
  • Nov 18, 2009 6:57pm Nov 18, 2009 6:57pm
The failure of the previous candle to close below the LL and the next candle going up was the correct exit for number 1 play if anybody is interested.

I didnt play that correctly, 0.9275


Quoting en0x
No, this is wrong wrong wrong....
we play number 1 if price goes over 10 pips, simple. I played this WRONG .


Order set for 09258 for reentry.

This is never going to work(testing) unless I play number 1 properly. Sorry guys, bad exit on my half. I am to test playing number 1, not targets or anything else.
Survive and Preserve
  • #112
  • Nov 18, 2009 7:01pm Nov 18, 2009 7:01pm
Quoting en0x
No, this is wrong wrong wrong....
we play number 1 if price goes over 10 pips, simple. I played this WRONG .


Order set for 09258 for reentry.

This is never going to work(testing) unless I play number 1 properly. Sorry guys, bad exit on my half. I am to test playing number 1, not targets or anything else.
I decided not to hang on for #1, due to RBA talking head at 12, and breach of halfway point in the big bear candle. For me it comes down to what is the reason is for the exit, what emotions drive the decision.

cheers
testing the market
  • #113
  • Nov 18, 2009 7:02pm Nov 18, 2009 7:02pm
I am a little concerned that reporting my trades here will cloud the view of others. Like I said, I handle trade management slightly differently - so for the time being I might keep quiet on this front.

Will still be around to talk concepts though.
Leonardo Follower
  • #114
  • Nov 18, 2009 7:08pm Nov 18, 2009 7:08pm
Quoting shodd
I am a little concerned that reporting my trades here will cloud the view of others. Like I said, I handle trade management slightly differently - so for the time being I might keep quiet on this front.

Will still be around to talk concepts though.
An interesting question, as it might be a different trade mgmt that leads us to an evolution of System II for AUD. Who knows?

As long as we keep it simple, and repeatable. Wash rinse repeat.
testing the market
  • #115
  • Nov 18, 2009 11:00pm Nov 18, 2009 11:00pm
Hi Chris and the gang,
I finally made it to here.. nice going Chris..

i skipped through the pages and one thing that stand out to me was the slower pace of this pair and lack of long rides (runners) issue and the system II runner mentality may not be suitable..

my humble answer here would be.. who cares.. lol.. sure runners are important but so is PRESERVING.

with the new development of what we do in system II inregards to the PLAN.. we got this thing called #1 play.. its a offenseive play.. its purpose is to keep u in the ride to take max advantage.. now, this does not mean that every one of your #1 situation has to turn into a runner.. the fact is that it does only about 1/3 of the times..
if u look at most of the true system II follwers, their signature is called "Survive and Preserve".. there is a reason for that and we can not deviate ourselves from the "preserve " part not with trading this pair or any other pair or any other system IMO.. and i think this could be the saviour here for you, a to how deal best with this beast..
be alittle more keen on preserving with #1 play with this pair.. so, for example when u fall into a 20pips profit and a retrace, then a price resumes back to your direction at this point go to work and really watch the price speed and rhythm.. if any price hesitation to break the LL/HH or anywhere near it go ahead and preserve pips right there due to slow pace nature of this pair.. now, Chris.. u were on live trade with me yesterday with the gang.. show'em how just like what I/we did yesterday.

so #1play is offence and preserve.. this is how we get saved on the slow days in system II E/U pair aswell.. good examlple of it, its been pretty much the whole present week up to now.. we have had 100-130pips total movment for the day but its been rough rides.. but with offense/preserve tag team we have been able to still stick to our plan and squeez pips out of the market and maintain the level of consistency that we are used too.

anyways.. I hope this helps u guys..
i am a humble observer.. and Chris is my pal.. keep on plugging buddy.

Good luck to all.
  • #116
  • Nov 18, 2009 11:22pm Nov 18, 2009 11:22pm
Thanks for your words, fx. Much appreciated.

AUD has been good today, may not be tomorrow, but we shall see.
Leonardo Follower
  • #117
  • Nov 18, 2009 11:40pm Nov 18, 2009 11:40pm
As a spanish guy we know says , jejejeje

Thanks for that FX, lets keep plugging away.

Quoting fxachilies
Hi Chris and the gang,
I finally made it to here.. nice going Chris..

i skipped through the pages and one thing that stand out to me was the slower pace of this pair and lack of long rides (runners) issue and the system II runner mentality may not be suitable..

my humble answer here would be.. who cares.. lol.. sure runners are important but so is PRESERVING.

with the new development of what we do in system II inregards to the PLAN.. we got this thing called #1 play.. its a offenseive play.. its purpose is to keep u in the ride to take max...
Survive and Preserve
  • #118
  • Nov 18, 2009 11:46pm Nov 18, 2009 11:46pm
Quoting en0x
No, this is wrong wrong wrong....
we play number 1 if price goes over 10 pips, simple. I played this WRONG .


Order set for 09258 for reentry.

This is never going to work(testing) unless I play number 1 properly. Sorry guys, bad exit on my half. I am to test playing number 1, not targets or anything else.
Attached Image (click to enlarge)
Click to Enlarge Name: chart.png Size: 17 KB


Looking back at todays chart now, it seems obvious that we should have stayed in the trade for a lot longer. I have to just follow the plan.
testing the market
  • #119
  • Nov 18, 2009 11:49pm Nov 18, 2009 11:49pm
A re-entry @58 would have been perfectly valid.
Leonardo Follower
  • #120
  • Nov 18, 2009 11:56pm Nov 18, 2009 11:56pm
Quoting fxachilies
Hi Chris and the gang,
I finally made it to here.. nice going Chris..

i skipped through the pages and one thing that stand out to me was the slower pace of this pair and lack of long rides (runners) issue and the system II runner mentality may not be suitable..
.

Fx thank you. It is when I think "what would Fx say here" that I am most successful, and most relaxed.
testing the market
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