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

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The System II (Yes with irony)

  • #13,041
  • Jan 8, 2010 11:35am Jan 8, 2010 11:35am
SL now at 1.4363 - 23 pips locked in

Watching it closely now - expecting some turbulence and reistance.
Looking to exit on weakness
  • #13,042
  • Jan 8, 2010 11:58am Jan 8, 2010 11:58am
Quoting Pipfox
Mo,

I think you have to understand that on a day like today NFP a lot of people will stay away because there can be some big surprises. Other people love the NFP and lots of money will be traded on and around the release, in order to try and catch a huge runner.

Another part of the market dynamics you must understand is that London is now closed and has taken a large amount of the money with it and it is around lunch time in New York (I think) therefore lots of the big boys will be eating and not trading.

It is also Friday afternoon, so many...
Thank you for your post Nick! Much appreciated!

I feel like im learning to ride a bike, almost there! but not quite! I can pull the 123 of sometimes, but other times I mess up. I get what to do and how to do it, but its the expectancy part thats eluding me at the moment! and im hoping that will get better as you say with more experience.

Today After the first swing high following NFP news release my attention was on going Long, the pull back was good to start with however then it made a lower high and continued down, with hind sight i can see that i should have played the 123S at the top, I mean its staring me in the face, but at the time i didnt even see it.

In my mind the bullish momentum of the big swing, meant that I was looking for a long trade. This thinking clouded my vision and caused me to miss the 123S. So A little Frustrating but Im not giving up, I wish I was more like Forest Gump in following instructions... lol.

Best Wishes to every one.
Iz
  • #13,043
  • Jan 8, 2010 12:03pm Jan 8, 2010 12:03pm
That's it for today. Exit at 1.4393 for 53 pips. 105 pips in total following the NFP news. Who said Friday afternoons were not worthwhile?

Have a great weekend everyone.
  • #13,044
  • Jan 8, 2010 12:54pm Jan 8, 2010 12:54pm
Quoting heronlake7
That's it for today. Exit at 1.4393 for 53 pips. 105 pips in total following the NFP news. Who said Friday afternoons were not worthwhile?

Have a great weekend everyone.
Splendid work. Keep on doing!

I closed my short for +45. Did not take the long afterwards, but it was a clear 123. Very well detected.

Have a nice weekend.
  • #13,045
  • Jan 8, 2010 1:20pm Jan 8, 2010 1:20pm
Quoting fxachilies
ok.. this is my position right before the release.. i will risk only about 20pips on this while i am about 45 pips into profit... that is enough cushion for the whips if its meant to go bearish..

lets roll with it, shall we..

http://cdn.forexfactory.com/images/attach/gif.gif
didnt you wrote few posts earlier than you "dont trade less than 60mins before news releasing" ?

and did you heard about bucket shops tricks .. like turning off platform 5 mins before news ? because your stop loss is 60 pips away from market... platform will be down for 15 minutes ... like it happened several times and your BAAAM will be bam to other side
Browsing forexfactory since 2006
  • #13,046
  • Jan 8, 2010 1:59pm Jan 8, 2010 1:59pm
Quoting moneda
Hello to all,

I have been reading the comments of some of the new members of our family and it seems that there is a lot of "thinking" going on. One piece of advise....ok maybe two...

1....
Moneda!

I enjoy your posts very much

Please post more often

I have to go to see the movie again.

There is another very good analogy to system 2 in the movie. Do you remember when he all of a sudden starts to run all over the country. Nobody knew why he did that (predict that !!!!), when did he started (could of been any FCR), and when would he stop running (#1 play).

We have a lot to learn from Mr. Gump dont you think?
You wont survive without preserving!!!
  • #13,047
  • Jan 9, 2010 5:06am Jan 9, 2010 5:06am
Quoting coronajazz
Moneda!

I enjoy your posts very much

Please post more often

I have to go to see the movie again.

There is another very good analogy to system 2 in the movie. Do you remember when he all of a sudden starts to run all over the country. Nobody knew why he did that (predict that !!!!), when did he started (could of been any FCR), and when would he stop running (#1 play).

We have a lot to learn from Mr. Gump dont you think?

Corona,

Yes, .... that is a good one... do you also remember how he became some sort of guru and when he decided to stop running people got angry and confused...sort of lost....why would he do that to us? Where do we go from here?......
....Forrest was following his heart and mind......hmmm...another lesson from Forrest.

Have a great weekend everybody!
Unus pro omnibus, omnes pro uno
  • #13,048
  • Edited 11:38am Jan 9, 2010 5:13am | Edited 11:38am
Fxachilies,

It's study time today and I've got a couple of questions regarding the first breakout of friday in the morning.

Could you please tell us where did you enter exactly? on the first down bar? after the test of the level at 1.4321?

Besides, I saw people exiting after the retracement of 20 pip or so, but you stayed in. What was your limit? Break even? Would you accept a loss in this situation? Is this a #2 play?

I repost your famous bam chart again for reference, if you don't mind:
Attached Image (click to enlarge)
Click to Enlarge Name: 555.gif Size: 26 KB


Thank you.
  • #13,049
  • Jan 10, 2010 5:14pm Jan 10, 2010 5:14pm
[quote=fmarcia;3352405]Fxachilies,

It's study time today and I've got a couple of questions regarding the first breakout of friday in the morning.

Could you please tell us where did you enter exactly? on the first down bar? after the test of the level at 1.4321?

yes, thats what i did.. based on a fcr1 with a nice little double top to go with it..

Besides, I saw people exiting after the retracement of 20 pip or so, but you stayed in. What was your limit? Break even? Would you accept a loss in this situation? Is this a #2 play?

I am not most people.. I play the plan ..my limit is according to the plan and the speed and rhythm thing.. the naked eye baby..
you bet i accpet a loss.. I even welcome it!!!.. (notice, the result was a runner)..
no, its not a #2 play..


I repost your famous bam chart again for reference, if you don't mind:
not at all..

now, my advise to you: read the thread please.. start by refering to post 11847 and take it from there, you'll find all your answers.. thank you.
  • #13,050
  • Jan 10, 2010 5:36pm Jan 10, 2010 5:36pm
Thanks for the clarification, fxachilies.
  • #13,051
  • Jan 11, 2010 1:54am Jan 11, 2010 1:54am
http://www.tradingrooms.com/
I cannot open the tradingrooms,can someone tell me how to access our tradingroom.
thank you
  • #13,052
  • Jan 11, 2010 2:00am Jan 11, 2010 2:00am
Quoting inter1948
http://www.tradingrooms.com/
I cannot open the tradingrooms,can someone tell me how to access our tradingroom.
thank you
we do every thing in this thread.
I make money anywhere in the world by taking orders
  • #13,053
  • Jan 11, 2010 2:34am Jan 11, 2010 2:34am
Quoting SedonaPipper
we do every thing in this thread.
thank you for your help
good pips to you
  • #13,054
  • Jan 11, 2010 2:54am Jan 11, 2010 2:54am
ok.. new session and some movments..
i got faked out once on the short side and currently long from above 4511 FCR1..

now, do I give hood about the previously 270pips long run?.. hell no..
I just watch the recent PA.. fresh ride of the new session and heavily analyse (speed, rhythm and time table) the PA on current development.. lets see if we can pass the 1st hurdel within todays so far volatility

its a new year.. but i am the same guy, with the same plan..

lets make some money..
  • #13,055
  • Jan 11, 2010 3:20am Jan 11, 2010 3:20am
hey guys, fxachilies, thanks for all the brilliant info, been reading the thread done all the required reading lol...just got the rest of the thread to go (on pg 100) love the system it makes sense
any way just letting you know I'm here.
here's a quote from FEB that I thought I'd share
"Your job here is to shoot, merciless and take no prisoners. You need to ACT when you see your trade. Forget all this support resistance, magic numbers, round numbers sweet spots etc. All of this truly lies in the eyes of the beholder."
good luck
  • #13,056
  • Jan 11, 2010 3:25am Jan 11, 2010 3:25am
i hope u all did hold at the level line and still holding..

if it breaks away from the top, can i do one of my famous BAMMMMM..

you guys mind?.. lol

http://cdn.forexfactory.com/images/attach/gif.gif
Attached Image (click to enlarge)
Click to Enlarge Name: 555.gif Size: 22 KB
  • #13,057
  • Jan 11, 2010 3:30am Jan 11, 2010 3:30am
Quoting Trndsurfer
hey guys, fxachilies, thanks for all the brilliant info, been reading the thread done all the required reading lol...just got the rest of the thread to go (on pg 100) love the system it makes sense
any way just letting you know I'm here.
here's a quote from FEB that I thought I'd share
"Your job here is to shoot, merciless and take no prisoners. You need to ACT when you see your trade. Forget all this support resistance, magic numbers, round numbers sweet spots etc. All of this truly lies in the eyes of the beholder."
[size=3][font=Calibri]good...
love that quote..

this three line drop changed my way of thinking for ever and i never looked back..

keep on reading brother..
  • #13,058
  • Jan 11, 2010 4:23am Jan 11, 2010 4:23am
Quoting inter1948
http://www.tradingrooms.com/
I cannot open the tradingrooms,can someone tell me how to access our tradingroom.
thank you
Its seem like already closed
  • #13,059
  • Jan 11, 2010 4:42am Jan 11, 2010 4:42am
whats this "trading room" talk here.. dose this got anything to do with our thread that i am not aware of?

can somebody tell me?
  • #13,060
  • Jan 11, 2010 4:57am Jan 11, 2010 4:57am
Quoting fxachilies
whats this "trading room" talk here.. dose this got anything to do with our thread that i am not aware of?

can somebody tell me?
Early in thread there is a link to trading rooms been dead for ages
Dance with the market .. I have two left feet
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