The System II (Yes with irony)

..still here but another news coming at .35 for cable,maybe it can affect also

short 1.49285
D123
Def:#2G+

........testing my line in a fakeout. keeping eye on momentum

........out BE. price tested line and came back down. faultered near my entry so bailed, reentry ready

hello everyone,
today was a great day with nice up and down movments, and i think everybody did pretty well.. so, congrats to the whole famillia..

we got a lot of recent newbies that are doing wonderfull and i can't be more happy for you, but i want to make sure that u are not demo trading!!!.. I be blunt with you.. demo is for sissies.. lol.. demo trading is a NO NO in here.. check it out: if you think u can prefect the Plan on demo then move on to reall account and produce the same results.. hehehehe.. then i urge u to think again... bcz this style of trading is a different animal when u got your own hard earned money on the line.. it is not the same.. couple of panicky exits or wishy washy plays here and there will turn the daily results from postitive to disaster negative.. its a true fact.

my suggestion:
open a micro account.. put in $500 that u do not need and use that money to practise.. and once u get the hang of things, then u can up your account and your load.. and never ever risk more than 1% of your account on each trade.. since our plays are designed to not lose anymore than 15pips top on any particular trade (if u stick to the plan ofcourse) then risking 1% you should be ok and enables you to trade relax and calm to excute the plan effectively..
ok some math.. (this is what i do still to this day)
$500 x 1% = $5 / 15pips = 0.34cents.. round it off to 0.40 cents (0.04 lots).. this means you got to make 83 mistakes in a row in order to be out of business.. so the odds are in your favor.. bcz ur gonna get your fair and share of winners and that will keep your head above the water till you become consistent earner and go on to greater account/load..

just a humbel advise from your little brother..


(micro account brokers: Oanda.. Union.. Primefx.. fxcm.. these are the ones i know, i am sure there are more.. just make sure the spead is no more than 1-2pips.. and u can place order no more than 5pips away from market price.)

Thank you FX on your teaching, and constant support here. I think everybody (at least us newbies) trades better when you are around here as you are always repeating to us to stick to the plan. I tell you, more and more I go through the thread (I am till page 350 right now), and with every day trading here, I get more and more convinced that I actually do not need to backtest or demo trade, this thing, cause that`s just the way it is, you have to test it with small loses cause eventually it has to run, , as Sam69 noted with much more beatifull words than me earlier today.
Do you know how important this is people?(the bolded part). Putting real money on the line without feeling the surge to backtest? It is the "lets see", the "come to papa" kinda attitude, the belief I was so eager to find in myself.
Now someone will say. Wohoo, hold on there newbie. Mr.Market`s gonna get you, soon or later. But I ll respond, I dare him to try, cause I am gonna throw #2, #1 and G+ at his face, and he will get my ... And then, soon or a later, he will run, and I am gonna be there.

Hi everyone,

I am still reading first 50 pages of this thread but also taking few trades on my micro account. I too 3 trades one of them went wrong today. I am not worried about loss... (actually i am ... lol) but as Feb said that loss is part of this business but I just want to know that did I spot the swing right? Plz see attachment. Forgive my ignorance as I did not finish the reading of 50 pages, which one should must read.. as I am reading and realizing that fact.

Hey 786!

Reading the whole thread is a must...although I am only half way there, cause As you go you will find live sessions guided by our master FX here, and great wisdom words from FX, FEB, Moneda and other senior members alike. However if you like to keep current with the thread and the trading plan, reffer to post 11105 at page 741 there are some instructions there to guide you the way.

As I can see from your chart you have taken the continuation entry in which there is some change at least in the approach.I am not saying that the entry was wrong and that is why you lost, in fact as you go through the thread and the mentioned posts you will see that entries are pretty much straigthforward here and it is what you do after the entry that is the most important part.

Greetings Coronajazz!

please i am very interested too
kindly allow me have a try
thanks nad grateful

Yes, it is valid entry. But market decided to turn on a dime. It happens on forex often.
See post #18 as reference.
After big nasty red candle you should start looking for pressing panic button and closing the trade. I should be able to get out at B/E or -5 pips.

Great answer... definately thread must read ... and I am reading it... also trying to be current with thread... so I can join you ppl asap ... Thanks for all and my best Regards and wishes to all members helping others...

Morning people,
just closed my long -5, entry at 98, closed at 93
, another long order at 1.5002

Morning Everyone,

Please be careful of the 1.5000 resistance line...
It have been a hard time for the EUR to win the battle at this line..

Happy Trading

Morning from Ukraine!

Sell order from 4985.... Will see

Good morning from Cornwall, UK. Good hunting today to you

Morning,
well welcome to early chopp monster.. lol
I will not touch anything in between 4980 and 5005.. she is looking nasty..


786,
read the whole thread please and refer to the post 4734 and read pg 649 so you can stay current with the thread while you are finishing reading the whole thread..

there is always a reason when i do not respond back to a pm.. .. you need to to know the style of play here before thinking about howmuch you should be looking to make.. .

Sorry!!!!!! I need coffee may be..... Short order is wrong - because bracket.
Long order 5008

Good morning. Have a day in green

Good morning all!

Just opened my platform and orders are set long 1.5010 short 1.4977.

Happy trading!

Do not worry about that. It is set to be broken .

hi all,

are you ready?...order placed for short @4976

yup nasty

reorder long at 1.5009