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System 2 (AUD trading)

  • #381
  • Nov 26, 2009 9:32pm Nov 26, 2009 9:32pm
Quoting en0x
Damn hi9ndsight

enjoy footy ,one day I will hopefully be a full time trader and then I can get me some children
I have 5 children - do you want one?
Just trade the pullback you idiot!
  • #382
  • Nov 26, 2009 9:49pm Nov 26, 2009 9:49pm
Hi Petar,

This post is no way intended to offend you. So please dont take it as such. Why do you have all these indicators and why do you trade the 1min? We trade in this forum what is taught in the main system 2 thread. If by using those indicators you are profitble consistently then carry on but if you trying to get there then my advise is this.

Ditch all your indicators (except the time and news one, those might help). Leave your time frame on 5 mins, read the thread system2 so you know how we trade and come join us on our quest then.

Just a suggestion. I trade purely on 5 mins without indicators other then marking massive points of danger(previous daily highs etc) which are there to watch and observe.



Quoting Petar_Serbia
Yea i took trade based on M1 and M5
Survive and Preserve
  • #383
  • Nov 26, 2009 9:49pm Nov 26, 2009 9:49pm
Quoting Batavier
I have 5 children - do you want one?
Geez you're keen!! I have 3 and that is more than enough!

By the way Petar - I am not sure why you were posting your question in this thread, as it is clear you are not trading the methodology we do in this thread.

I will give you one piece of advice however - asking others their opinion on your trades, especially mid flight is quite dangerous for your pysch and account balance. What if I responded with "well you must be a loony to be going long here"??? What would that do to your thoughts?? Nothing positive if you're the type that seeks external validation that's for sure (even if your position was valid based on your plan).
Leonardo Follower
  • #384
  • Nov 26, 2009 10:50pm Nov 26, 2009 10:50pm
Well folks, I'm done for the week. Have a good weekend and see you on the other side
Leonardo Follower
  • #385
  • Nov 26, 2009 11:13pm Nov 26, 2009 11:13pm
Quoting shodd
Well folks, I'm done for the week. Have a good weekend and see you on the other side
Guys I got another trip away next week.... so good luck with the trading. I hope to get back into it monday week. See you all then.
"Save your ass, then go for profit"
  • #386
  • Nov 29, 2009 4:42pm Nov 29, 2009 4:42pm
What will this week give us?
Just trade the pullback you idiot!
  • #387
  • Nov 29, 2009 4:44pm Nov 29, 2009 4:44pm
Big gap up - could be a down move to fill that empty space but spread is still a bit wide for me!
Just trade the pullback you idiot!
  • #388
  • Nov 29, 2009 4:51pm Nov 29, 2009 4:51pm
Quoting Batavier
Big gap up - could be a down move to fill that empty space but spread is still a bit wide for me!
Yup, higher than normal spread is a red flag for me. Sitting on the sidelines for a bit longer
Leonardo Follower
  • #389
  • Nov 29, 2009 5:00pm Nov 29, 2009 5:00pm
Spread with oandai s still 4 wide. Should tighten soon.

Good morning all

Quoting shodd
Yup, higher than normal spread is a red flag for me. Sitting on the sidelines for a bit longer
Survive and Preserve
  • #390
  • Nov 29, 2009 5:04pm Nov 29, 2009 5:04pm
Quoting en0x
Spread with oandai s still 4 wide. Should tighten soon.

Good morning all
Good Job brother!!

I quietly check your thread occasionally...

Whenever my girlfriend is not buggin' I might join you in a couple of trades!
Peace
  • #391
  • Nov 29, 2009 5:04pm Nov 29, 2009 5:04pm
I have made several attempts at saying something important and all that seems to come out is crap - I am going to wait for the Toyko open and then set my orders - more than likely long at 9150 and short at 9107. Would like the spreads to tighten. I expect the market to attempt to fill the gap though 20 tics is not that large a gap. The first trade of the week is so interesting. My feelings are magnified because there is so much expectation for a good week to follow.
I make money anywhere in the world by taking orders
  • #392
  • Nov 29, 2009 5:19pm Nov 29, 2009 5:19pm
Quoting SedonaPipper
.....My feelings are magnified because there is so much expectation for a good week to follow.
Morning mate (and everyone else )

This statement interests me.

I love my job, it's a dream come true for me really. When I first started trading full time I used to find Mondays were the most challenging days. I would sit down at my desk so keen to get underway I would quite often make a bad decision or two before settling back to my plan. My emotive side would have control and it would take a couple of slaps in the face for my rational side to get back in the drivers seat!

I've since rectified this problem but I just found it interesting to read that others may be facing a similar dilemma. Not sure what else I wanted to say now really LOL.
Leonardo Follower
  • #393
  • Nov 29, 2009 5:20pm Nov 29, 2009 5:20pm
Hi Feb,

I hope you had a great thanksgiving.

Yes, woman , mine loves to talk to me about things like gossip when I am slap bang watching price.. still love her to bits though


Lets see if Monday will do something, Friday was just wonderful , except the actual real news about Dubai was a little scary.





Quoting feb2865
Good Job brother!!

I quietly check your thread occasionally...

Whenever my girlfriend is not buggin' I might join you in a couple of trades!
Survive and Preserve
  • #394
  • Nov 29, 2009 5:27pm Nov 29, 2009 5:27pm
Thanks shodd - over time I have found that there are no new feelings when it comes to trading - yes I also go through the process of getting slapped a few times before I get in gear. My first decisions of the week seem wired from an old thought process and it takes a while for my updated brain to get involved. Example - I am short and all the old fears and thoughts came rushing to the forefront when the PA runs back up a few tics. My spreads are still larger than I like and I am curious how price is going to react to 9100. Because of this curiosity, I will have a trigger happy finger which will of course cut me short or I will choose to be tough and then watch price go against me as it bounces off the 9100 - oh how the mind works. Wicked.
I make money anywhere in the world by taking orders
  • #395
  • Nov 29, 2009 5:29pm Nov 29, 2009 5:29pm
Short at 91098 out at 91005.
Just trade the pullback you idiot!
  • #396
  • Nov 29, 2009 5:34pm Nov 29, 2009 5:34pm
This is my dream , to do what you ghuys do (Feb,FX shodd etc) , tade full time.

Not that I care about money, i just love trading a lot and have been.

My goal is to become a full time trader, and then pay it all forward what I have been taught by Feb and FX and help others out too. Its been 2 years and few months since I first heard of the concept of trading FX and its been a journey (personal discorvery).
I just find it amazing how much one learns about oneself through this journey.

Obviously I am far from there but wow.. what I have learnt in the last few months ..


Just a note, I wanted to speed up my "expectation" learning for AUD so I bought a backtesting software last saturday. I have tested 3 weeks worth of data from the 5th of Jan to end of Jan (and will test every down time I have)
This was a manual backtesting btw, so I had to take the traders and exit them as I would normally.
Good results so far (although backtesting is no indication of future performance ) but gives me an idea of how AUD performs.

Starting account was 10K trading 1 lot, in 3 weeks the accounti s 14 460.. so, I do believe we can easily make AUD work, although noticing the runs are smaller but hey, I wouldnt complain if I could do that performance live. Will complete the month tonight and get another month out this week(and update this thread each "month" I complete.





Quoting shodd
Morning mate (and everyone else )

This statement interests me.

I love my job, it's a dream come true for me really. When I first started trading full time I used to find Mondays were the most challenging days. I would sit down at my desk so keen to get underway I would quite often make a bad decision or two before settling back to my plan. My emotive side would have control and it would take a couple of slaps in the face for my rational side to get back in the drivers seat!

I've since rectified this problem but I just found it interesting...
Survive and Preserve
  • #397
  • Nov 29, 2009 5:42pm Nov 29, 2009 5:42pm
Quoting SedonaPipper
Thanks shodd - over time I have found that there are no new feelings when it comes to trading - yes I also go through the process of getting slapped a few times before I get in gear. My first decisions of the week seem wired from an old thought process and it takes a while for my updated brain to get involved. Example - I am short and all the old fears and thoughts came rushing to the forefront when the PA runs back up a few tics. My spreads are still larger than I like and I am curious how price is going to react to 9100. Because of this curiosity,...
Wicked indeed! It's funny what the mind does. Leaving aside the wider than normal spread (which is actually a real issue as you know that liquidity is down....but forget about this for a min!) this mornings setup is really no different to all the others we take and should be treated as such. But because we have built up expectation that we're going to have a good week, we place extra importance on getting away to a good start. Even though this trade should be treated on it's merits only (and not your expectations). So fear creeps up slowly to start, but when you get a few pips in the green you think "well here is the good start that I expected, can't afford to blow it now" and fear really sets in when price starts running against you. "Must not let this winner lose, must get a good start"

See where I'm going with this?

The way I deal with the Monday morning itches is to read a few choice words that I have written to myself over the years after going through exactly what I described above for the 1100th time. It's a great way to remind you of the importance of staying rational, especially when your enthusiasm to trade is at it's highest.
Leonardo Follower
  • #398
  • Nov 29, 2009 5:43pm Nov 29, 2009 5:43pm
Quoting en0x
This is my dream , to do what you ghuys do (Feb,FX shodd etc) , tade full time.

Not that I care about money, i just love trading a lot and have been.

My goal is to become a full time trader, and then pay it all forward what I have been taught by Feb and FX and help others out too. Its been 2 years and few months since I first heard of the concept of trading FX and its been a journey (personal discorvery).
I just find it amazing how much one learns about oneself through this journey.

Obviously I am far from there but wow.. what I have learnt...
Hey en0x. Keep up the good work!
I have 5 charts running on my screen and focus on AUD as it suits this time zone but will take others that suit also. Just noticed that the trade I took on AUD was exactly half that which was available on Eur/USD in same time period but I wasn't concentrating - haven't had coffee yet! .. Pays to keep an eye open.
Just trade the pullback you idiot!
  • #399
  • Nov 29, 2009 5:47pm Nov 29, 2009 5:47pm
Spread has tightened up nicely now, so I'm looking to get in.

I like short @ 93, but I'll take long @ 51 if I can get it too...
Leonardo Follower
  • #400
  • Nov 29, 2009 5:51pm Nov 29, 2009 5:51pm
[The way I deal with the Monday morning itches is to read a few choice words that I have written to myself over the years after going through exactly what I described above for the 1100th time. It's a great way to remind you of the importance of staying rational, especially when your enthusiasm to trade is at it's highest.[/quote]

The way I am dealing with things today is to put in the thread for others to think about as well. Your insight helps alot and we shall see. By the way My first trade was for (-1 ) - price bounced off fridays high to hard and I went into survivial mode. I now have orders - long at 9138 off the FCR and test of it and low is 9090. I thought about putting it back at 9107. That is part of my "getting my head in gear" process - I like to cheat which of course gets me in trouble more than it rewards me.
I make money anywhere in the world by taking orders
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