The System II (Yes with irony)

Hi Bubola,

Thanks for your answer.

As pointed recently in this thread, you can use the post #11847 as an entry, at least to understand basics.

Of course, reading the whole thread is a (very) good idea (I did it twice!)

Couldn't find the post in the thread, had it down on a word doc tho, i find this play for BB very useful

from fx:

guys I want to mention something here that i been using and its been working..
now this only applies to Bracket breakout enteries.. rest of them we are using #1&2 for exits..
what the chart..
when you get a quick fakeout.. right after trigger time.. the next candel that truns into the bracket and closes solid.. then.. make your exit.. don't wait for play #2 and have your sl hit.. this is the only time that i advise you to do this instead of play #1&2.. let be clear on this..
you can always reenter to assure not missing a possible runner if it's meant to happen..
bcz if you notice BB are either a nasty fake or awsome long runners..

and.. we are going to refer to this exit as "BB exit".. to make our communication easier..

I hope it helps guys.. it saved me once again today from the nasty fake with less damage.. but I missed the damn reentery.. shit.. lol
[IMG]file:///C:/Users/shaun/AppData/Local/Temp/moz-screenshot.png[/IMG]

I limit my loss on each trade to a maximum 12 pips which takes me 9 pips past the level line. In this case the reversal looked quite strong which, at the time, supported this strategy. This works for me (although not in this case!!) as it avoids the temptation to let losses run. Well done for sticking with the trade but make sure you always have a SL in place.

i got out @ -2, probably wrong decision, i'm just very uncomfortable trading on rate decision days. so i'm going to devote the morning to reading the thread

ciao

Thanks Skris. I must have missed that post. I am still reading through the thread and going over my notes.
As for the reasoning behind my action, I was applying #2 play and hesitated to close the trade at BE when price didn't bounce. Also I was willing to take the risk (for a runner) as I often get in and out of my trades too quickly and not allow it to breathe.
I have just moved my SL to 4529, so only risking 2 pips now. Hope the SL is not too near the heat of the battle. Any thoughts on that?

Cheers.

Thanks for the explanation. Yes I always have a hard stop in place. I think the important thing here is that we all had a plan in mind and we stuck to it even with different results. That's discipline. (which I lack sometimes but working hard at it!)

[quote=skris;3364977]Couldn't find the post in the thread, had it down on a word doc tho, i find this play for BB very useful

ty, skris, that's what i had in mind to do anyway if it turned sharply into range territory. in this case, i bailed out early, don't want to spend the morning cought up in a ping pong match

Thanks for this Skris, couldn't find it in my records and must have missed it. I'll add it to my armoury.

I Agree with that, Cheers every body
http://cdn.forexfactory.com/attachme...1&d=1259487361

I want to add to the discussion that is taking place this morning.

In my opinion G+ exit is a double edge sword especially when the market is bit quiet like today so far. Sure we have our reentry in place, but that is (constant reentering) exactly where we can get hurt too.

I was analyzing my trading in december and I had a lot of days when the price was moving directionaly but very slowly. Aplying G+ I had trades distribution like this : -9, -12, -8, -13 , when if I held on to the old #2 I would of have only one trade for the day resulting in +39 or so. I had several days like this in december, if anyone likes I will post some charts later.

Please do not get me wrong. I am not saying throw G+ out of the window. It is golden account saver when the market is moving like a speed train against you. Just saying be extra carefull.

Please everyone share your thoughts about this.

Thanks alot mate.

Hi Bakuli

In my humble opinion i see that SL as a good level to lower risk and i have mine there also, hanging in there for possible runner with low risk

Chris

The problem i have with this trade now is perhaps its stalled at this point for too long and if you,ve got BE should you bail ??

ok... i have never seen a thread pages to go backward as much as i have seen it in our thread.. lol.. its all due to this bad boy fxa guy, who has a got his 1st warning from the site manager now.. oh well.. i suspected that anyways.. i would have given myself a warning too.. but sometimes is just worth it.. and it won't stop me to make my statment to %%%%% trolls.

I apprciated jazz & bakuli's posts and our female friend Bubola (yes we do have female members trading with us here) and as a respect to our female friends and all others i shall never again be seen to outburst like that even to as evil and idiots of this guy and others of his caliber.
ok putting that aside..

In my reall life there are no trolls around me, none what so ever.. why? or how could that be possible? bcz i simply never allow it to get far enough that they become a troll, but rather a friend.
a troll comes.. i give him/her a chance.. if it turns into friend, great.. i it don't, he/she gets cut faster then a head turn.

i give you guys a little story about me..

I ran a large Mortage shop, i had 70 wiseass LO's (each a troll in there own right at the begining) working for me and you should ask them how tough i was with them!!!.. but still to this day (now 4yrs is passes since i close my company) I have 70 friends who would die for me at will.. now ask yourself why?.. ok, I tell you.. because i gave them personal attention, along, with straight forward task demand, droped them mass knowledge of my own bits, show them the art of selling, gave them love and support, and finally they became good enough to taste financiall riches.. I was generous with work stuff allthouway to their family stuff.. I picked them up when they failed and celebrated with them when they achieved greatness, and kick in the butt when they needed too.. I lead with example.. if a guy bitched and complained about our selling plan or whatever, i got on the phone on the spot with my voice being played on the speaker and close the fucking deal.. I made belivers with my live in you face examples.. THEY CAME TO WORK BCZ OF THE LOVE FOR ME.. it was not work for them anymore even when i asked them to sit and make 400 dials a day. just like when i see hard working guys JPLO & DIM wanting to be successful partly just for fxa happiness sake, for him to see their sucess.. away to repay me back for my input for them. sure its all about bottomeline and money I preached that all the time myself.. but when you see a guy going beyond and above then you know that there more than just the $$ and cent or trading invlove, and i can assure you that great things will florish out of such culture. now back to the story.. surely to know that the ones that stayed stuborn and had other ideas in their head other than success and achivments, they were simply CUT.. now turn it back to here again.. i do not have the authority to ban people and i never had deared to ask for such authority from feb and i never will.. eventhough I know he will give it to me on a spot.. but i never will.. is his thread and should be his decisions.. thats called respect guys.

now the story above is about up close and being personaly face to face.. thats another thing that we do not have in here, and i do understand that.. but i also know that to the good people of our family do understand that this just as same as being face to face.. so it is still achievable.. you don't belive it or don't make sense to you just ask the a few VIP guys that are in yahoo messangers with me everyday, you should know who they are.. and i have tried to setup a private room for us here in FF but to no prevail so far..
now, it is not appropriate for me to talk about my website in the making in here but thats the reason i decided to setup such a site so we can opperate in a professional, distrub, distraction free manner.

anyways, i thought i showed went out some of the things stuck inside.. i never like to talk about myself.. I am all about people.. "the greates achievement of man is to make the guy next to him successfull aswell".. and live by that.

this time I won't say good bye like other times.. I am staying and I will fight with everyone of these disturbers, whoever that tries to destroy what we have, whoever that don't practice what we practise in here, whoever that tries to breaks up our family out of jelousy, whoever that has fallen misearbly with their trading and tries to take it out on us.. whoever else that is against us..

at the same time if you need me to grab your hand, all you got to do is ask, and not only me but plenty of other good people of our family willing to help you out generously because we believe in spreading good Karam.. thats the culture of this thread.

I hope some of these disturbers will read this before trying there evil ways.


ok... lets make some money. I am short btw and G+ for my def.

miss B,
please refer to post 4734.. read the designated posts.. then turn to page 649 and read my three post where i lay out the plan in details..
this way you will get current with all of us..

good luck.

Personally I would exit at BE. When I enter a trade I'm testing the market at that point in time with an expectancy as to it's direction. The longer it takes for that direction to not materialise, the weaker the validity becomes. In this case, we're into a fairly tight bracket and the longer we're in it the more of a gamble it becomes as to which direction it will eventually break out. Hence, the original decision for entry becomes less valid and you're simply living on hope.

That's the way I see it but no doubt there's more experienced contributors to this thread who can perhaps give a better response.

Thanks ready

I did hang on but only got hit for -5

Thank you Fx,
I'm glad you're still around because quite selfishly, I'm not ready to solo.
Really appreciate your hanging in there with us.
d

thanks, fx. doing that right now.

I was thinking the same too earlier before I was taken out for -2. In hindsight, perhaps the SL was too near the heat and should have remained at the previous fractal. Never mind, it's back to the grind....wash, rinse and repeat till we hit that runner !!!!!!