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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)

  • #13,101
  • Jan 12, 2010 5:43am Jan 12, 2010 5:43am
Quoting Bakuli
Hope you guys are on the fcr at 4494 ! I am going to play #1 with this reversal break.
Just got taken out at 4487 where I had placed my stop at the FCR. Am now long at 4487 too. Hope I am trading this correctly from my understanding of the thread. By the way these are live trades as well.
  • #13,102
  • Jan 12, 2010 5:54am Jan 12, 2010 5:54am
Quoting Bakuli
Just got taken out at 4487 where I had placed my stop at the FCR. Am now long at 4487 too. Hope I am trading this correctly from my understanding of the thread. By the way these are live trades as well.
Just played #2 and closed my long at BE.
  • #13,103
  • Jan 12, 2010 5:57am Jan 12, 2010 5:57am
but.. thats what the kind of mentality and practise it takes to be a successful runner gainer...
by giving more room and keeping runner options open.. if you dont catch a runner but you will get chance to preserve pips at mid or around LL again.. so the odds are in your favor..
and..
if dont happen... big fricking deal.. you out at BE or 5-10 pips loss..

but your monthly bottomline is decided on bigtime runners..

http://cdn.forexfactory.com/images/attach/gif.gif
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  • #13,104
  • Jan 12, 2010 6:03am Jan 12, 2010 6:03am
Quoting fxachilies
as u see the first LL got creamed.. there is no reason that same thing can't happen to the one down lower...
but, my point is.. the hell with it all.. jsut play the plan and nothing but the plan.. thats your edge. "dont be a fool, keep your cool".. dont fall into markets decive..


atm we are witnessing a W.B but lets not jump the gun and wait to see if we get a W.R.. then we can make sounder decision.. we got a go market and we dont want to let go of it by panicing bcz we don't want to lose out on 25pips profit on the table.. lets not forget...
One of my problems is sticking to the plan for catching runners after the whipping i took yesterday and a bit this morning.

I will get there and thanks again for all your help especially fx.

I feel more and more confident of getting in on that first wave to give yourself the best chance and have now got to just build the confidence to not bail early.

thanks

Chris
  • #13,105
  • Jan 12, 2010 6:03am Jan 12, 2010 6:03am
Quoting Bakuli
Just got taken out at 4487 where I had placed my stop at the FCR. Am now long at 4487 too. Hope I am trading this correctly from my understanding of the thread. By the way these are live trades as well.

there was no long trade there.. nothing about that was about the thread.. that little hiccup on the nice brearish move is not a reversal buy signal.. another words.. you got no fcr there eventhough it looks like one.. this is the art of our game.. but u will get the hang of it with more screen time and practise..
you reall fcr is at 4487..

read my recent posts..

doing good my friend.. this is just a correction and help to you int he heat of the battle.
  • #13,106
  • Jan 12, 2010 6:10am Jan 12, 2010 6:10am
Quoting Stoffer
One of my problems is sticking to the plan for catching runners after the whipping i took yesterday and a bit this morning.

I will get there and thanks again for all your help especially fx.

I feel more and more confident of getting in on that first wave to give yourself the best chance and have now got to just build the confidence to not bail early.

thanks

Chris
brother stoff.. the cure for that is to simply trust the plan and go for it.. once you endup with afew long ass runners and you look at you weekly bottomline.. you will notice two things..

one... a very shitty hit rate ratio..
two.. a super healthy bottomline..

take your pick now..

my dear mentor told me once..
"I trade my good hit ratio for my bottomline moons ago.."
we all know who said that..
  • #13,107
  • Jan 12, 2010 6:10am Jan 12, 2010 6:10am
Quoting fxachilies
there was no long trade there.. nothing about that was about the thread.. that little hiccup on the nice brearish move is not a reversal buy signal.. another words.. you got no fcr there eventhough it looks like one.. this is the art of our game.. but u will get the hang of it with more screen time and practise..
you reall fcr is at 4487..

read my recent posts..

doing good my friend.. this is just a correction and help to you int he heat of the battle.
Thanks for the feedback. Will continue to practice until I get it.
  • #13,108
  • Jan 12, 2010 6:13am Jan 12, 2010 6:13am
http://cdn.forexfactory.com/images/attach/gif.gif
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  • #13,109
  • Jan 12, 2010 6:30am Jan 12, 2010 6:30am
Quoting fxachilies
brother stoff.. the cure for that is to simply trust the plan and go for it.. once you endup with afew long ass runners and you look at you weekly bottomline.. you will notice two things..

one... a very shitty hit rate ratio..
two.. a super healthy bottomline..

take your pick now..

my dear mentor told me once..
"I trade my good hit ratio for my bottomline moons ago.."
we all know who said that..
Thanks fx

Also I think I have tended to overtrade on swings and fcr's made of only a 1 bar pullback instead of the proper loop like type which causes the hit rate to be alot worse than it should be.

Chris
  • #13,110
  • Jan 12, 2010 6:35am Jan 12, 2010 6:35am
I exited at 80's area based on W.R and speed of the lat long candel..

i basically banked about half of what u banked earlier..

but......

i keept all the options open to catch the big wave if it was meant to happen without getting in's and outs and exposing myself to higher chances of fakeouts on countinuation signal down on the later stage of a bearish swing and a possible Bottom picking.

taking 9 pips out of a total 30pips potential with ruuners mentality in the cornerstone of your plan is a major major ass kicking..

well anyways.. I hope it helped you out.. this is a little taste of what u will get in the Boiler room with me.. maybe with a different tone.. lol..jk


ps) higher speed of comunication will help out to get my exits to u guys in instance (seconds not minute).. thats what we lack in such forums.. this will be solved in the boiler room.. lol.. and makes my life alot easier..
stay tune..
  • #13,111
  • Edited 7:21am Jan 12, 2010 6:50am | Edited 7:21am
Quoting Stoffer
Thanks fx

Also I think I have tended to overtrade on swings and fcr's made of only a 1 bar pullback instead of the proper loop like type which causes the hit rate to be alot worse than it should be.

Chris
practise pracrise pracitise will get you there along with screen time.. IF YOU STICK WITH YOUR GUN..

don't worry we all have been there..
  • #13,112
  • Jan 12, 2010 6:53am Jan 12, 2010 6:53am
hi all, just want to say how very grateful I'm for all the priceless information, lessons, opinions and for this great thread in general. I'm sorry for spelling mistakes, English is not my native language. I have started reading the thread and look forward to finish it all, it is a great journey. I attached the notes that I made from posts that I have read so far. May I post the chart of my trades of the day with comments at the end of London session if you don't mind guys? Maybe everyone could learn something from these examples and mistakes. Again thank you all very much and I wish success in your trading

P.S. seems I'm unable to attach notes from first 50 pages of the thread, because of some quota (file is 1.7mb), guess some restrictions for newbies
Attached File(s)
File Type: doc Notes for Newbies.doc   431 KB | 1,076 downloads
  • #13,113
  • Jan 12, 2010 7:09am Jan 12, 2010 7:09am
bracketed order
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  • #13,114
  • Jan 12, 2010 7:50am Jan 12, 2010 7:50am
i'm taking these trades not to learn how to win, but to learn HOW TO LOSE..obviously, got a long way to go
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  • #13,115
  • Jan 12, 2010 8:17am Jan 12, 2010 8:17am
re-entered ss, -14, but i'm beginning to see what flags a trade failure
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  • #13,116
  • Jan 12, 2010 8:22am Jan 12, 2010 8:22am
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My last trade a small loss

but i felt in control and good about closing with price jumping north like this
  • #13,117
  • Jan 12, 2010 8:23am Jan 12, 2010 8:23am
Quoting fxachilies
Morning fellas,

you know what.. maybe is time for a private Fxachilies website!!! what do you

Fantastic idea FX, can really keep those idiots away. I totally second this.
Don't stop believing
  • #13,118
  • Jan 12, 2010 8:30am Jan 12, 2010 8:30am
Another great live example by FX. Thanks mate.

Now, to me it's obvious we are facing the first choppy monster in 2010. I will stay put unless either 4450 or 4520 are broken.

Just sharing my view. Any comments?
  • #13,119
  • Jan 12, 2010 8:55am Jan 12, 2010 8:55am
Quoting elizo
Another great live example by FX. Thanks mate.

Now, to me it's obvious we are facing the first choppy monster in 2010. I will stay put unless either 4450 or 4520 are broken.

Just sharing my view. Any comments?
This is a good call and I was thinking the same. I too think that inside this borders is very hard to choose an entry. No clear winner - as Feb once said.

What I am afraid of although, is the market playing his devil`s mind game with me again.Am I just trying to avoid losses, and not keep losing as part of my agenda, under disguise of "being carefull" in the chop monster.

I wonder what everyone else has to say about this. It is very important aspect of our trading style.
You wont survive without preserving!!!
  • #13,120
  • Jan 12, 2010 9:00am Jan 12, 2010 9:00am
one thing i have noticed when the market whips around like this is that alot of your losses can be recooped by reversing after your stopped.

I think mac and feb call it ping pong
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