The System II (Yes with irony)

My trades and I'm done for the day.

Is this a possible Long entry?

Nice trades Ready. I took the same first trade as you but after I closed it due to the double top, I missed the ride up when the break happened. This was due to me still being influenced by that double top rather than just trading the set-ups as it happens. Lesson learnt today was not to predict where the market is going but to just trade the plan. I am now taking the fcr (hope I am right with this one)at 4499 for the ride up.

nice job ready..
great defensive exits.. great patience and being ok to leave money on the table and going back at it again with the long BB trade.. and nice offensive exits.. crushings hurdels and banking big thats our style.. two runners in one day.. does not get any better than this.. awsome.

i am happy for you..

Thanks for your earlier guidance (post 13145) and comments. You're right...it doesn't get any better than this. I think I'm starting to get the feel for this but will be sure to keep my humility in place for tomorrow and continue to respect the market.

Have a great evening Fx...I sure will!

nice job stoffer..

regards to your question earlier..

i risk no more than 2% on any trade.. sometimes even lower..
but my risk is pre calculated with my predetermined defensive play..
in that particular trade my risk was at 1.8% to be exact.. i was not willing to give away no more than 15pips on that trade and pretty much for most of other trades that i ever take.. thats the max I intend to lose on any... in some rare cases i am willing or find it necessary to give the price more room and possibly losing more, then i adjust the load.

could not trade the London opening, but took 4 trades, +65 pips total, better then yesterday, maybe better market conditions today. learning slowly.

I know I don't post much in here but I can say that I have learnt a lot trading Feb's System 2 through FXA's eyes.
I came across this thread when it first started. I liked what FEB was teaching but for some reason I couldn't bring myself to trade it because I was brain washed into thinking that small timeframes were for losers. I didn't give it a chance and went on to search other threads for that "holy grail". Occasionally I would pay this thread a visit, amongst the many other threads that I subscribed to, but my heart was never in it. It was only a few weeks ago when coming across the "harsh" words of FXA that got me to start looking up his very many posts/live examples. It kind of renewed my interest in the thread. From reading his posts, I could see beyond his sometimes abrasive manner, that this man meant good and he walks the walk ! The more I read, the more I started to understand the "plan" as described by FXA. It finally dawned on me that it was ok to lose and that it was part of the cost of doing business. What I once saw as noise, now I see opportunities when I apply FXA's plan. I trade this plan live as I don't believe in demo (no disrespect to others who demo). I still make a lot of newbie mistakes like exiting too early, taking the wrong fcr's, etc BUT you know what ?.....My account is in positive territory despite all that!!! For once I feel comfortable trading such a short timeframe (noise as most would call it) and coming out a winner. The more screentime I put in and the more I observe FXA and the other seniors like Corona, Dim, Iplo, Moneda (and others not mentioned) trade it, the more I feel in tune with the plan, which FXA has structured so well for us (for free!!!).

Good karma to you all and to our mentor FEB for starting this thread otherwise we may never have come across FXA.

Have a good day/evening all.

B.

Nice

My bracket trade (short 4527) just triggered. Taking every shot as it appears as per plan.

Morning Bakuli,

Also in...at 1.4525

Price retraced after breaking 4527 by 1 miserable pip. Going to play defence #2 .

Out at 4537, -12
Re-entered @ 4518

my decision was not to play brackets, to me it looks a bit wide. the swing is a little over 30 pips (i'm using future, not spot, so yours may differ) and i will go for a BB, with extra caution, today is rate decision day.

ciao

Thanks for the feedback Bubola. I am still learning. I am still in my trade, moved my SL to 4541 just above the fractal, so now risking 14 pips and hoping for a runner !

what I like about this "system" is that it makes mind calm because: you accept that you will lose often, you are not jumpy anymore about exits when fakeouts happen because you know that price retraces very often and you know that sooner or later you will get a runner (price cant stay at same place for very long)

Good morning everyone,

I'm in this breakout around 4625.

Do you play this one as a BB (and #2G+ defensive) or FCR1 (and #2)?

Cheers

i can only play original BBs and FCR, that's how far i got in the thread. my order SS was placed 3 ticks below the candle right brfore last pull back in range zone. sl above fcr. atm looks ok, slooowww of course

Good morning Ready.

May I ask why you exited at 4537 ? I resisted the temptation and waited for the fakeout to shape out. When price returned back to my entry level at 4527 I allowed it just a bit more time when it didn't bounce. I hope I am playing this right or am I just lucky this time ? All feedback welcomed !

Thanks.
B

I took the same trade and exited with -9, theres a post by FX with what he said is known as a "BB exit", where if the candle after the entry closes strong, exit immediately have your re-entry ready, which is what i did and am currently short, although it does not look good atm, i could be wrong.

cheers