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The System II (Yes with irony)

  • #11,941
  • Nov 30, 2009 3:10pm Nov 30, 2009 3:10pm
Quoting SedonaPipper
Ok I was doing fine on the long trade from 5016 - waited patently and watched as price got up to 5040 - I had moved my stop to 5028 and was thinking price would retest the high giving me a #1 exit or a runner. I closed out at 5035. A breach of the of the support at 5036 and a touch of my fear based trading.

I see many of you took the trade from 5025 down - I did not see the FCR at 5028 because I was focused on the long trade I was in. My question is how did you let go of the long so easily and reverse the trade on what I consider at best a weak...
SD,
the problem i see from you in this particular case goes deeper than just not seening the fcr..
this fcr 2 is as clear it can get.. they normally come off the long bullish/bearish rides.. it is a quick reversal without a double bottom/top or any 123 swing setup.. and the shorter they are the better.. the reason i have it in the game plan, is to not miss rides when the damn thing runs without a hiccup.. its a straight shoot down/up for min 50+..

so the two problems that i see and it goes beyond the technicall aspect..
1) it seems to me that u fall inlove with ur trades a little toomuch, and getting cut up with your expectaions of the the trade.. which it leads to not letting go of the trade and do the quick stop reversal..
one cure for this problem: treat your trades like dirt.. no feelings what so ever.. be cold and dump her when its time.

2) you put scale on the setups... you say "weak fcr 2"... whats that all about.. since when we started to put value on the setups.. they all are at best a 50/50 shot.. this was a solid fcr 2 that was worth a test.. thats it.. no more no less.. I would have easily dumped this one too with G+ just like the previous 5 trades of mine..
one cure for this problem: each trade should be treated as ur only trade... another word, ur long trade has nothing to do with this one.. you could be still on your long trade and set a short order to secure not missing a possible ride.

you say you did not even see or recongnize the fcr 2... and that is fine .. with some more screen time under your belt you will see them all.. but i am getting u prepared for one step higher and that is when u actually do see it.. and when u do see it.. take action without hesitation, and put all other stuff aside and treat each trade on its own..

know ur setup and fakeout defensive play pre hand.. then recongize the position dealt.. and fit the defensive/offensive play.

I hope it helps..
  • #11,942
  • Nov 30, 2009 3:22pm Nov 30, 2009 3:22pm
Quoting dim4ik42
Hi my friends!!!

Here I post my chart with today's trades.

11 trades (OMG!!! lol...) 1 winning - 10 losses.... Shit!
But...
I did enter every my trade without fear... every time today. Honestly, I do worry of course about my money (in losing trades), and it make me still some pain such days like this.... My winning trades did not cover my losing today.... BUT, I have to say you all, that with some practice, such days like this (losing for me) do not make me so much pain like some months ago... This is what I want to say all newbies here.......
hang on Dim.. i get to you..
  • #11,943
  • Nov 30, 2009 4:16pm Nov 30, 2009 4:16pm
Quoting dim4ik42
Hi my friends!!!

Here I post my chart with today's trades.

11 trades (OMG!!! lol...) 1 winning - 10 losses.... Shit!
But...
I did enter every my trade without fear... every time today. Honestly, I do worry of course about my money (in losing trades), and it make me still some pain such days like this.... My winning trades did not cover my losing today.... BUT, I have to say you all, that with some practice, such days like this (losing for me) do not make me so much pain like some months ago... This is what I want to say all newbies here.......
ok.. I am going to go over Dims trades for the sake of everyone to pay attention too.. and I am just going to summerise and give out nutshell

Dim.. trade 4,6,7 are not valid.

now to be fearless and taking valid setups are two different things.. now we have gone over valid setups a millions of times here.. however i know that they are at times difficult to recognize in the heat of the battle and u can make mistakes.. but if i have to choose between being fearless or layed back... i would for sure pick fearless.. bcz the worst thing worst than toomany fakeouts is to miss opportunities.. being layed back and cherry picking will result in missed opportunites..
but being fearless is got be with some control..
u can not trade like robot.. u got use some smarts.. u need to know what your setups are and fit the def ply accordingly... what i mean by useing some smarts is that when u play the G+, sometimes when price crosses over the level line should not be a automatic exit.. u got to use expectancy (ahhhh.. dont forget this) speed and momentum and give the price 10pips above the levelline to breath before making a quick bailout on the 1st two minute of 5 minute timeframe and reenter in the 5th minute of the same candel or the 1st two minute of the next.. like Dims trade 6 & 7..

now being fearless is good as long as u are fearless at all times.. u can not be wishy washy.. bcz then u will endup with toomany fakeouts and and late on the runners.. like Dims first 10 trades and his last very late fearless less fcr 2 entery trade.. lol (i think i just made up that word)..

i think what we can take away from Dims trades are that u can be even superfly fearless and still get away with a small loss for the day if you could have taken full advantage out of the only semi runner of the day..

but if you can be fearless within control and useing some felxibility with G+ and not treat it like robot so u don't fall into quick exits and none existing reenteries then u can survive this beast even on its most monstery days like today..
not to brag.. but i am a living proof today... i took all valid shots and got in a big hole and got away with +4 by capitilizing from one half ass run.

so I hope this helps everyone.. and thank Dim for his trades and his courage to not only take 11shots but to also put it up in the thread for everyones sake of learning.

dim.. you are in the right path my friend.. just need to fine tune things a bit some... read this post manytimes and dig deep and u will get it straighten out, i am certain you can.




in place with leash on it.. meaning that ones got to use some smarts in playing the G+ defensive play.. at times we need to ma
  • #11,944
  • Nov 30, 2009 8:53pm Nov 30, 2009 8:53pm
Yes, I am a lurker or curtainboy as FX put it, but I have followed this thread and FEB's first from the beginning. I don't know if I should be posting because I thought you FX said we shouldn't if we were not trading live. I am not yet, but will be soon. If you wish to remove this post then so be it. I watched your struggles as you developed into an excellent trader and teacher as Feb is. You are an extraordinary person to do what you have done and are doing. You have been harsh in your words to some of the people, but this is a harsh business and it is necessary to drive the point home. You have awakened me to something I have been missing in my trading, and that is, have a plan and follow the plan. No one else on this forum that I have read has taken me into the heat of the battle as you have, emotions, fear, greed, right there at the scrimmage line like in football, only we are not spectator's, we are players. You have a great thing going here as Feb said, everyone here is great. I have a time, work issue as Ennox does being on east coast USA but will work it out soon. Everytime I think that you have said all that needs to be said or can be said, you say something even more enlightening. Thank you and Feb for what you do , I hope to be involved here on a regular basis but have no access to computers at my job, intend to make this my job one day! TKS
  • #11,945
  • Dec 1, 2009 12:09am Dec 1, 2009 12:09am
Morning troopers. 6;09 in my world.
  • #11,946
  • Dec 1, 2009 12:12am Dec 1, 2009 12:12am
orders in place.

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  • #11,947
  • Dec 1, 2009 12:20am Dec 1, 2009 12:20am
Quoting fxachilies
ok.. I am going to go over Dims trades for the sake of everyone to pay attention too.. and I am just going to summerise and give out nutshell

Dim.. trade 4,6,7 are not valid.

now to be fearless and taking valid setups are two different things..
Fxahilies! Thank you!
This is exactly what I did need... brotherly advice.

After my quiet time in the evening (for me that runner down was at near 18.00 pm - evening), and after your post for me (I did read it at middle night), I did think about that trading day... Look closely at every my trade.... Now it is clear for me, that many times my trades was just in the middle of "nothing"... range. This is the kind of situation when nobody wants to take market... and I did some trades in such conditions. Ok! I understand now - my entries have to be more clever and smart.

At least I know now - that I do not afraid to loose money because of not valid entery, not afraid to leave money on the table. So - abnormal ... lol...
I have to say - it was not so easy to be like this.... But - I am now!!!!


Thank you for your advices..... I will implement them as soon as possible.... Right now!
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  • #11,948
  • Dec 1, 2009 12:30am Dec 1, 2009 12:30am
Quoting lastchance
Yes, I am a lurker or curtainboy as FX put it, but I have followed this thread and FEB's first from the beginning. I don't know if I should be posting because I thought you FX said we shouldn't if we were not trading live. I am not yet, but will be soon. If you wish to remove this post then so be it. I watched your struggles as you developed into an excellent trader and teacher as Feb is. You are an extraordinary person to do what you have done and are doing. You have been harsh in your words to some of the people, but this is a harsh business and...
lastchance,
thankyou for your kind words.. i hope some day soon guys like yourself and enox can do this as your only job from anywhere in the world that you wish to be.. I am glad that i have been a help to your trading career.

but in regards to my comment about "curtain boys"... maybe i should clearify this..
I certainly mean no offence to the decent people that are silent watchers but prefer to not post for any reason and its totaly fine and I respect that as long they dont throw rocks and are appreciative and greatful like yourself and many others.. but.. My comment was directed at afew undecent ones specially one, who not only not apperciative and greatful but rather prefer to do harm and on top of it they take stuff from here and go out and sell it to the poor public and make money off of it.. "sell mine and febs stuff tha we put out here for free and out of our own will and generocity to help all kind of traders".. now it would be naive for me that i think otherswise.. this forum is open tot he whole world.. but when they get noticed then i dont mind to bash them and move on.. they know who they are and they know that i know who they are.. I am not gonna mention any name but if it comes down to it i will revel them and there websites so all you loyall people could go out there and give them hell.. lol
so if you guys put yourself in mine and febs shoes.. then u may understand that it is not a joyfull thing to know.. and u might hesitate to give out more wisdom when u got such undecent people onboard..
but we decided otherwise and countinued on when we see so much love and support from so many of you nice and greatful people and countinued our generocity and moving on.
Like feb said.. there is more than trading is happening in this thread.. its a familly atmospher and good karma spreading all over the place.. its one brother helping another.. so its all well worth it.

good trading and good karma to all..
lets so a killing today..
  • #11,949
  • Dec 1, 2009 12:37am Dec 1, 2009 12:37am
Quoting dim4ik42
Fxahilies! Thank you!
This is exactly what I did need... brotherly advice.

update.... short order on my previous chart was not correctly, because of the new down fcr at place. So - my new correctly chart.
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  • #11,950
  • Dec 1, 2009 12:53am Dec 1, 2009 12:53am
good morning.got the same orders. lets have some action
"Even a million miles journey starts with one single step"
  • #11,951
  • Dec 1, 2009 12:58am Dec 1, 2009 12:58am
Quoting dim4ik42
Fxahilies! Thank you!
This is exactly what I did need... brotherly advice.

After my quiet time in the evening (for me that runner down was at near 18.00 pm - evening), and after your post for me (I did read it at middle night), I did think about that trading day... Look closely at every my trade.... Now it is clear for me, that many times my trades was just in the middle of "nothing"... range. This is the kind of situation when nobody wants to take market... and I did some trades in such conditions. Ok! I understand now - my entries have to...
amen brother..

and I tell you all.. everyone needs to go through this type on experience in order to defeat fear and gain confidence before understanding how to keep it all in control.. know when to contol the fearless part and know when to no be so consevative and passive..

I dont know if anyone recalls one of my post here about random enteries..
when i was testing out this thing for myself... i went at this with big money on the line and taking every little enteries, totally fearless that i kind looked like random enteries and keept my focus more on trade managment and risk managment.. and the result was at the end of the week i was slightly ahead.. taking to the account that 30% of my enteries were just superfuly risky.. thats when i became a beliver in RM (risk managment) and but at the same time tried to put together a solid entery and exit game plan for myself and take PA reading to a limit for myself as a secodery to RM.



i just got triggered long above 5006.. lets see what happens..
  • #11,952
  • Dec 1, 2009 1:01am Dec 1, 2009 1:01am
got my long and now looks like semi? what do you think?
"Even a million miles journey starts with one single step"
  • #11,953
  • Dec 1, 2009 1:08am Dec 1, 2009 1:08am
ok.. price rewarded us with a 27 pips break away and here comes the hiccup retrace.. playing #1, scenario 1 for now...


http://cdn.forexfactory.com/images/attach/gif.gif
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  • #11,954
  • Dec 1, 2009 1:18am Dec 1, 2009 1:18am
Quoting fxachilies
ok.. price rewarded us with a 27 pips break away and here comes the hiccup retrace.. playing #1, scenario 1 for now...


http://cdn.forexfactory.com/images/attach/gif.gif
Good morning everyone.I just got on to my desk so I missed that.

Fx, was the 1.4995 valid FCR entry for long?
You wont survive without preserving!!!
  • #11,955
  • Dec 1, 2009 1:21am Dec 1, 2009 1:21am
Moved my stop to 1.5024.., locking in +14
  • #11,956
  • Dec 1, 2009 1:21am Dec 1, 2009 1:21am
...i s this a new FCR,and a new place for our stopnow, or we can give price more room????
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  • #11,957
  • Dec 1, 2009 1:22am Dec 1, 2009 1:22am
Quoting janqie
good morning.got the same orders. lets have some action
Mrng buddy ... I had advised you yesterday of a big BB in the mrng ... I may have called that incorrectly ... I am still getting the hang of reading the formations. I hope I did not confuse you.
  • #11,958
  • Dec 1, 2009 1:25am Dec 1, 2009 1:25am
Missed the first run .... so have gone long with the 2nd break of 123s .... london at 1.50387 .... playing defensive #2.
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  • #11,959
  • Dec 1, 2009 1:29am Dec 1, 2009 1:29am
Quoting DesertFX
Mrng buddy ... I had advised you yesterday of a big BB in the mrng ... I may have called that incorrectly ... I am still getting the hang of reading the formations. I hope I did not confuse you.
No friend its fine we all are learning here from each other.i am making lots of mistakes too. lets learn together
"Even a million miles journey starts with one single step"
  • #11,960
  • Dec 1, 2009 1:29am Dec 1, 2009 1:29am
Quoting DesertFX
Missed the first run .... so have gone long with the 2nd break of 123s .... london at 1.50387 .... playing defensive #2.
Fakeout ... playing defensive #2.

(Have my stop 1.5024)
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