The System II (Yes with irony)

Good morning friends!

Wow. Tight trading in asia, Hopefully it will create oportunity for us.

Happy trading!

scenario #1 in case now...... for this short trade

reaction to the level-line......

exit higher than level line because of the speed on the long candle against my open short position

guys atm price is very jittery.. why do u think?... on the edge of london open may have something to do with it!!!!.. you bet..
most times on the edge of new session and at the open you will get jittery and spike PA action... so all the strategy, method in the world would not help you there... so thats where as a trader you need to be felixable and use some discreation, u can not go by the book all the time.. all u can do is to watch ur RM and act accordingly..

i was in this short trade from below 81... and i was willing to lose 15pips.. but my discreation based on super jittery PA decided to get out at BE..
1) i did not fall inlove with my trade.. and dumped it..
2) I can take shot at the 123 below if its really looking to break the low.. perhaps after the open..
so why risk losing 15 pips.. my job is to catch a runner.. not bank half and.. meantime i use all in my power to survive the shots that i take when don't turn into a runner.. this in the nutshell what ur supposed to do here..


I got a run.. i am having the fast internet speed being setup for me here.. so i be out for little time.. CYA for now.

I made a stupid mistake early in the morning and lost 16.

My orders now long 1.5107 short 1.5060.

First fake in the morning.....

It is so good to get up with a clod water jet in your face.... lol

Let's see what British are thinking about today....

Have the same orders!!!

out of the long -15. That is 11th losing trade in a row for me since monday. New record

I hear you buddy. me too!!!

Corona and Iak,
My trade right now still not too good, but it improve much.
Honestly I can't help directly
how to deal with current trade.

but, all I can say is stay put brother,
think again about every loss trade.
and how to deal with price action

if my previous trade today can help you, here it is :
Ask me , I'll be glad to help you

Musanto , where is your entry on this last trade. It is passed the maximum loss alowed mark, at least by my taste.

Guys,

it's being a tough morning but stay calmed and remember: past trades are history. Don't let them be even worst by influencing the new ones. Be focused on trade management and be committed with the trades that you take. Don't trade scared. Be relaxed.

Question for FX. We have seen that the previous bracket has been broken either on the downside and the upside. Does it invalidate the bracket itself and we have to take every shot again once PA it's back to the former range? If so, does it apply to just one fake BB, so it's not necessary to have both fakes on both boundaries?

I mean precisely to the entries defined by the black lines on the attached chart:

Thanks

up arrow long
dn arrow short
Entry price is red line
exit price yellow line

My last entry trade #5 ,
1.5094, based on level line (red line ) at 1.5089x

elizo and everyone..

the best i can answer this question is to just sit back and assess the current situation.. the observation says, that u got two fakeouts from each side and bracket has got wider and price is choppy..
so its simple to see that chopp monster is alive and you have already paid the price twice for this information..

what is chopp monster: lack of one participant win over other.. so they fight for a while.. buyers win for just the fraction.. that means long fakeout.. sellers win for a just a fraction.. that means short fakeout.. then they give up for a while.. means jam bracket, range time.. and then starts again, same story till one wins over another finally..

now when faced with chopp monster, you got two choices..

1) you can just sit on your hands till next session.. or preferbly wait for the wide bracket to jam up after some range time and take one more shot at it before next session..
2) you can keep on trading..

If you choose #2.. then, yes.. you got to take shots off the break of the each new LL/HH and fcr's in the middle of the bracket..
my advise on this choice to you is: to be either extra aggresive with ur defensive G+.. or give it the necessary room to breath.. meaning sl should be on the otherside of the bracket (45pips range bracket currently) or last HL/LH.. whatever u do, dont get cut in the middel of this two by being wishy washy and panicky, bcz that will result in total disaters day.. and for certain, don't cry when ur sl is hit.. its a choice u have made and u got to live and die with it..
yessss.. chopp monster is not easy to deal with.. its easy to let go of it and stay put and live by choice one.. but u may lose out on a runner..

thats why its called MONSTER..

all kind of different style of traders will have a problem with this.. whether you are range trader or trend trade or ping ponger or runner hunter.. you name it.. you will have problems with the chopp monster and for certain there is no magical solution for it..

you wanna know what i do..
I pay for it couple of times so it becomes evident to my that yes it is a chopp monster in hand.. then, i sit put for a while... if the wide monster jams up to smaller monster i take one more shot.. if it is still alive then next, i wait for the new session.. if it still alive and price is just not giving out for the day... then, i close my damn system and try to be a good boyfriend and take my girl out to a nice dinner or something.. lol

yes guys... trading is a cold business.

TOP CLASS POST

Just to add something, if you choose option #2, it's obvious that better choice is that you have to widen your SL... so spread the load accordingly to keep your MM policy. Being aggressive on defensive play does not make sense, since you will have to be in and out, in and out too quick.

Thanks FX. Amazing

look at my chart.. two fakeouts and i know notice the chopp is alive..
i stayed put.. no more trades.. but as u can see and i have shown in my chart that opportunities are there.. fcr's (grey lines with red arrows).. at the real time they look for real, they are valid fcr's.. but they are also inside the wide monster beast and toomany fcr's close to eachother.. now, could be a runner off of each one of those... yes, it could be.. but will i take a shot at them once i have spoted the moster beast inside the bracket? hell no.. will i take shot if it breaks the wide monster bracket? hell no.. why?... bcz is still in the choop mood and i am waiting for the bracket to jam up.. would i miss a runner this way? yes.. is it high probable? .. my experience say no..
so i stick with that and live and die with that..

but i tell you... if i ever miss a runner is off the unexpected breakout off the chopp monster.. otherwise, i capitalize on each and every one of it that occurs, unless for some reason i am not infront of my screen..

as u see now.. the bracket has gone from 45wide to 25 pips wide.. will i take shot if it breaks the LL.. maybe.. but i will have a very aggressive G+ in mind.. any hesitation at the levelline i try to get out for as less as damage as possible..
but this would be my only 3rd try and some of you guyses 7th tries..

http://cdn.forexfactory.com/images/attach/gif.gif

I think there is some structure forming between 5080 and 5090. I may take a shot. Not gonna use orders. I will watch the price action closely and go market.

The damn thing looks like a EURCHF chart today.

today i had a day off from work and was gona trade a full session,
and im faced with the chop monster
what do u guys do with ur down time while watchin the chop monster?

FX u wrong ,this is my 8 tries
the last 7 results,
+3,-6,-10,+1,+6-5,0 total -11 pips
Glad, I can survive,

Thank you for the explanation.