The System II (Yes with irony) | Page 641 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

We all need pivots to win..yes or not? 13 replies

The System (Irony included) 1,175 replies

Attachments: The System II (Yes with irony)
Exit Attachments

The System II (Yes with irony)

  • #12,801
  • Dec 21, 2009 9:20am Dec 21, 2009 9:20am
Hello
got short from 4343 now waiting for pullback to play #1 or be someone in this trade?
"Even a million miles journey starts with one single step"
  • #12,802
  • Dec 21, 2009 2:10pm Dec 21, 2009 2:10pm
Quoting skris
Nice to see pips for xmas Ready, good stuff. I missed the that one earlier in the day, moved my stop to .4361, stopped out +14, as pushed thru the HH, and came straight back down, NY opening right now too.
Thanks Skris
  • #12,803
  • Dec 21, 2009 2:11pm Dec 21, 2009 2:11pm
Quoting coronajazz
I am inspired by your dilligence. Nice trading ready!
Thanks Coronajazz
  • #12,804
  • Dec 21, 2009 5:17pm Dec 21, 2009 5:17pm
Sam 101!

Thanks a lot for your reply about oanda.

I was demo trading today and the spread never went more than 0.9 pips during London and early New York session.

I am making a simple math. My current broker is charging me 2 pips (which is fair spread). But since I have started trading system 2 I have made around 100 trades. My size at the moment is 1 mini lot which makes my bottomline "poorer" for 110 USD only from the spread difference. What if, from any day in the future I start to trade (hopefully) a full lot (1100 USD a month spread difference ???), or several full lots?

I am definitelly switching, at least a portion of my deposit, to Oanda after the holidays.

Plus I have learned how to draw the damn trendlines
You wont survive without preserving!!!
  • #12,805
  • Dec 21, 2009 5:36pm Dec 21, 2009 5:36pm
"quote" I am definitely switching, at least a portion of my deposit, to Oanda after the holidays...

I use Oanda as my broker, however their charts suck but the spreads are excellent on the EUR/USD.. 1 pip

I use FXDD as my principal charting tool, usually there is a 1 pip difference in the quote that I have to keep in mind..

Hope this helps
  • #12,806
  • Dec 21, 2009 6:02pm Dec 21, 2009 6:02pm
It maybe sound funny. A lot of people here are satisfied with oanda as a broker (the spread etc.) but are not crazy about their charts. I actually love their charts from the first time I opened them. Everything is a preference I guess. I hate metatrader for example. I just cant stand it.
You wont survive without preserving!!!
  • #12,807
  • Dec 21, 2009 7:46pm Dec 21, 2009 7:46pm
Good morning!

Buy stop at 1.4302
Sell stop at 1.4266

I don't want to miss the bus, but at the same time,
I never forget to be all set for the #2G+ play
in case of a nasty fakeout.
  • #12,808
  • Dec 22, 2009 12:12am Dec 22, 2009 12:12am
Nice fakeout!

Out for -10 pips to survive and re-enter at the same level again.
If I have one more fakeout, I'll wait until the london session.
  • #12,809
  • Dec 22, 2009 1:20am Dec 22, 2009 1:20am
Long at 1.4302, and playing #2G+ at the moment
Attached Image (click to enlarge)
Click to Enlarge Name: trade 1 on dec. 22.gif Size: 15 KB
  • #12,810
  • Dec 22, 2009 1:49am Dec 22, 2009 1:49am
Stop moved to BE, and waiting for the 1st fcr to be formed.
If the price comes back very quickly, I may be out.
  • #12,811
  • Dec 22, 2009 2:00am Dec 22, 2009 2:00am
wow! while i was away from my pc, stopped out at BE.
  • #12,812
  • Dec 22, 2009 2:07am Dec 22, 2009 2:07am
Quoting lazyFX
wow! while i was away from my pc, stopped out at BE.
In my humble opinion you made a 100% correct play. Yes, it's annoying that it then bounced back but you had a free trade, stuck to the plan and will reap the reward in future.
  • #12,813
  • Dec 22, 2009 2:41am Dec 22, 2009 2:41am
Quoting ready
In my humble opinion you made a 100% correct play. Yes, it's annoying that it then bounced back but you had a free trade, stuck to the plan and will reap the reward in future.
Thank you for your kind words.

It was careless that I didn't keep watching the price movement. I should be careful not to make the same mistake again.
  • #12,814
  • Dec 22, 2009 3:34am Dec 22, 2009 3:34am
Quoting coronajazz
Sam 101!

Thanks a lot for your reply about oanda.

I was demo trading today and the spread never went more than 0.9 pips during London and early New York session.

I am making a simple math. My current broker is charging me 2 pips (which is fair spread). But since I have started trading system 2 I have made around 100 trades. My size at the moment is 1 mini lot which makes my bottomline "poorer" for 110 USD only from the spread difference. What if, from any day in the future I start to trade (hopefully) a full lot (1100 USD a month spread...
Hi corona, i use oanda for more than 4 years now.
i agree, the charts are OK for the System I and II all u need is there.
But for longer analysis and backtesting, the Histor is to short. Look at the M5 Chart on Mondays only a few hours thats all. U cannot see last friday m5 data.

Im totaly satisfied with oanda as broker , sure had some stalls but mostly during hot periodes like important news and if i have to many windows open and use to manny pairs in the quote list.
But thats probly a problem of the PC cause all of my orders, when using a limit to enter or exit, was filled correctly even when the server said " no connection to server" or something like that.
The withdraw cost for me is 40,00 per wire transfere.Thats a lot so i use RBS (royal Bank of Scottland) as second broker. They use the same oanda plattform, almost same spread and datafeed, but the wire transfer in europe is free of charge.

hope that helps , merry xmas and happy pips for all of us
  • #12,815
  • Edited 4:45am Dec 22, 2009 4:15am | Edited 4:45am
Hello, my family!

After reading the very recent posts I can see some problem here... (I may be total wrong - and this problem doesn't exist).... If you have not such problem - just do not pay any attetion on this post....

So..... Loser trades......

Some time ago - my personal trading was round this LOSING TRADES.....
They was like nightmares for me...... They didn't allow me to trade properly... Before every trade I was very frightened of losing money in this particular trade... I did tell myself - "After this trade, if this will be loosing - I will stop trading for this day"....

But..... now I want to share with you my little secret..... in fact - this is a VERY BIG SECRET..... This is all about mindset!

ALL ABOUT MINDSET!!!!!

loss, loss, loss, loss - understand (think about this) like:
test, test, test, test

LOSS = TEST ....

You do not lose money - you do test the market! Every your loser dollar - is just what you have to pay for testing market....

Look... You all have here I can see almost clear cut rules about eneteries (123D, 123S, BB, FCR1, FCR2); almost clear cut rules about defensive plays when you face fakeouts (#2 and G+); and you have almost clear cut rules about exit in winnig trades (#1). These all almost clear cut rules is OUR TRADING PLAN.... Our PLAN tells us to trade every valid shot to catch that very seldom, but very sweet RUNNER. Catching RUNNERS - is the goal of our trading PLAN. But - if you want to catch runners you have to trade every valid shot..... And you know - that every shot may end like runner, and like fakeout.... So...what will you feell when you will see your next valid set up???? Fear of possible fake out?????? I tell you how I feel from some time about this situation.... I feel like I just have to buy ticket to go by bus....
If I will stay to my PLAN - anyway I will catch my bus... But... I have to pay for ticket... and I do it through these little losing trades.....

I remember one post of GREAT BUDDY FXAHILIES, when he said that he did male some research. Even with almost random enterys he did still make money with proper Trade Management and Trade Expectancy.
Why??? - Because every loss trade was for him like a ticket for that seldom but BIG PAID trade (bus).

So - forget Losses.... Think - Testing..... After every "ticket-trade" - just think "next" !!!

Thank you!!!! ... and sorry for so long post from me.....

Good wishes for everyone!
  • #12,816
  • Dec 22, 2009 7:43am Dec 22, 2009 7:43am
Quoting dim4ik42
Hello, my family!

After reading the very recent posts I can see some problem here... (I may be total wrong - and this problem doesn't exist).... If you have not such problem - just do not pay any attetion on this post....

So..... Loser trades......

Some time ago - my personal trading was round this LOSING TRADES.....
They was like nightmares for me...... They didn't allow me to trade properly... Before every trade I was very frightened of losing money in this particular trade... I did tell myself - "After this trade,...
Great post - particularly like replacing LOSS with TEST and the analogy about buying a ticket.

I've finished trading for Christmas so I'll take this opportunity to wish you all a great Christmas and a healthy, wealthy and joyous New Year.
  • #12,817
  • Dec 22, 2009 8:58am Dec 22, 2009 8:58am
Hello,
Today I am wrapping up my trading for the year and takeing a two weeks vacation.. I thought it would appropriate to make a post to my System II family.. if u don’t mind bearing with me one more time this year.
Couple of days ago, a person who I respect dearly, brought to my attention a very short but a powerfull poem from an ancient persian poet.. and I like to share it with u guys..
poet says..
If you shall ever fall to Kings riches.. and, not get a full of yourself.. then u can stand tall and call yourself a Man..
And..
If you shall ever fall to misery.. and, not fadeaway.. then and only then you can stand tall and call yourself a man..
I find this life poem very related to our trading world..
Guys.. beginning of this year I was down and out.. I was Miserble like the poet says.. confused and beaten flat out on my behind.. but something mystic, perhaps related to my passion for trading keept me around and found the strenght to research along with hardwork and staing active with a openmind, so by March I was fortunte to find this thread and it opened my eyes to a whole new way of trading.. absorbing the great posts and teaching of our great mentor Feb2865.. and with a lot of sleepless nights and 10hrs days of forward testing/live trading and total dedication.. so, by June I put together my game plan and went after in a big way..
So there you see.. I been on one side of this poem and survived the misery part and it remains to see if I can handel the other part.. and I am grateful to my Dad, who knows me so well and made me aware of this precious poem along with his own life wisdome who i respect in definate.. and i hope it serves you well aswell.
My message to guys is..
If you are one of the guys that had success this year and see youself on top of the world.. take the poets words to heart and stay humble and keep working (I intend to do so.. bcz over confidence is my Achilles Heel).. and.. if u are one of the guys that are still strugeling and feeling down.. make sure u don’t fall below!! stadand tall and keep working.. if ur passionate about trading then quitting is not an option.. If quit on this, then u you will quit on everything and anything that u come cross from here on.. this is a great business, forget all the negativity out there.. instead.. pick yourself up, lick your wounds.. and go at it with 100%..
our PLAN is not the best.. it’s not flawless.. its got room for improvments and never ending fine tuneing!!!.. its nothing just more than a road map or a solid structure for a way of trading.. it is You that need to use the tools to make it fit to your strenght..
feb put it in nutshell.. I put it in some sort of a structure and clearer words.. BUT it is You that need to make it fit for you.
I know me and u been through a lot in this thread.. we worked togther , we learned together and from eachother.. we fought and celebrated toghether.. and more than anything we created a family atmosphere here for us and all other who will join this thread.. some of us even become close friends like brothers.. and that’s something to be proud of.
.. and I respect each and everyone of you as a brother for what you have given me.
I wish you all and your families a very very happy Merry Christmass and the best holiday.

Peace and good Karma.. Cheers.


  • #12,818
  • Dec 22, 2009 12:58pm Dec 22, 2009 12:58pm
...Merry Christmas to ALL and
Have a Happy New Year...
  • #12,819
  • Dec 22, 2009 12:59pm Dec 22, 2009 12:59pm
Quoting fxachilies
Hello,
Today I am wrapping up my trading for the year and takeing a two weeks vacation.. I thought it would appropriate to make a post to my System II family.. if u don’t mind bearing with me one more time this year.
Couple of days ago, a person who I respect dearly, brought to my attention a very short but a powerfull poem from an ancient persian poet.. and I like to share it with u guys..
poet says..
[b][i][size=3][font=Calibri]If...

Thank you Fx. Yet another uplifting post from you. I am slowly reading and absorbing all the very helpful posts in this thread and already I am stating to see the light at the end of my once very dark tunnel.
A very merry xmas and a happy new year to all.
  • #12,820
  • Dec 22, 2009 2:01pm Dec 22, 2009 2:01pm
Quoting ready
Great post - particularly like replacing LOSS with TEST and the analogy about buying a ticket.

I've finished trading for Christmas so I'll take this opportunity to wish you all a great Christmas and a healthy, wealthy and joyous New Year.

Hello Ready!

I am glad that my post was useful for you....

Merry Christmass!!!!

0 traders viewing now