The System II (Yes with irony)

Actually I think it is a continuation set-up as I missed the (?) fcr1 at 4382
(- 3pips = 4379). That would have been a better entry but I missed it in the heat of the battle. Still a lot to learn.

Hi, corona!

... just from my experience.
This not exactly means that we will not see some strong moves during that time....

As for me - I will still work anyway... How knows? WJDK!!!!!

Hi, gedium!

as we have to test trade early - I did enter from 80 in this short trade.
Than it is more early, the better is our position in times, when market retrace....

In my opinion both of them were missing a "loopiness" character. I will look for that especially after a strong bullish ride like we had previously in the asian session.

Yes, yes of course it could. That is why I am not giving advices like "dont trade" or stuff like that. Just awareness. Like "one ear on the ground" kind of....

Thanks Jazz. Will keep that in mind. I was taken out of that short for -16, ouch !was slow on my defence on that one.

Good Morning,

TIME OUT..
are we falling in to nitt picking??? i sure see so lately..

hear me out..

guys we do not have a "system" here... we do not worship anything.. we dont have a set in stone rules and we do not allow ourselves to fall into too much details..
all the above is good for making you to fall into worst thing that can ever happen to a trader.. you know what that is?!!!..
ohhhhhhhh ya.. SECOND GUESSING. its cancer.. shhhh!

trading is simple and difficult.
market will give you many different looks and forms.. who the hell are we to predict its next move?.. or try to perfect a play or setup a perfect a "system".. this is a long race and things are decide in the long haul.. monthly statement is a good one.
we are speculators folks, at best!!!.. who bet on High "probability" situations.. and we deal with LOSING when it turns against us.. all we can do is to take our shots and pretty much after that is up to mother nature..

these are some of the stuff that i have picked from feb..
now.. I put together the PLAN to open these words in a more structurall manner.. something that I can quickly refer to in the heat of the battle when I got to make a better decision on the spot.. thats all. its not the H.G.. its not a Perfect Plan.. its not to gurantee success..

but you know what.. going back to core of this thread.. febs stuff and the plan that i put together.. is good for one thing!! you know what it is??
to become a better well rounded trader.
lets not deviate from the first post.. he say.. I am going to show your guys a Proper way to get a read of the Market.
its just a proper way to read the market, to bet on it, and save our ass at the same time if it does not deliver.

ok here... i paint the pic for you once more time:

you spot a swing (123/fcr).. draw your two lines.. spot the Pullback.. than place or order 3+ spread above/below.. thats it.. thats your high probability trade. when you order is filled its pretty much up to the market!!! oh shit, feb/fxa i am not sure if i want to just leave it all up to the market to decide for me?.. ok, good, thats a valid point Mr. X.. use this thing called, EXPECTANCY!!!.. what is expectancy? its.. risk managment, manageing your trade, Sir. .. cut the loser short in a reasonable timetable (#2/G+) and let the winners run till real threat arrives (#1 ply/ scenario's) or when reached your goal.
meantime in the middel of all this you will lose.. its ok, its simply part of this thing called trading and it will happen whether you like it or not.. just simply bounce off of it.. stand up, lick your wounds and say it could have been worse if i had not cut it short based on my expectancy.. now, i am gonna look the other way.. ohhh ya baby.. here it come.. IF and THEN.
ok..
you try this whole thing afew times.. if market is just not giving out and looks choppy.. you close the bitch and come back the next day or next session.
sounds fair enough!!! ... it is what it is, there ain't nothing you and me can do about the markets behavior.. all u can do is to watch your butt on your end.

now, the story above does not sound like a Holy Grail and it sure don't sound easy or comfortable.. but.. thats the true fact of trading.. you better get used to it or do something else. you can always look for "indicator based systems"... that gives you all the comfort you want..

folks.. study the plan.. page 649 & post 11758 is my bible..
the backbone of it is all about what i have learned from febs posts in the first 50pgs.

do not dwell too much about your mistakes.. learn and move on, instead of getting stuck and second guessing everything, it slows you up.. do not dwell toomuch about why you can't take advantage of every market looks and froms, sometimes you will just miss it.. some of the rough rides are hard to get pips out of them and if market is making it really difficult then its better to take your loss like a man and come back the next time.

I don't know what else to say.. I hope it lights up.

Thanks FXA, we needed that time out and reminder (kick in the butt!).

gm, took that fcr 1 short @82 -3, but i was taken out by miscalculation of spread on my part. sl was above H @92 plan was to hold and see test of 9:50am candle (which looks like it's doing now), but on fxcm i was taken out. i'm also monitoring fxpro, and there sl would not have been hit. anyone still using fxpro which seems to have better spreads? any input is higly appreciated.

I think Oanda has good spread, and I'm a former oanda client, their service was good. Now I've with IBFX, because I'm moved out of the country.

ty

Hi bubola,

I'm using fxpro and I got a lot of requotes and sometimes, it looks like they hunted my stops. Ironically, I was wondering if I should'nt leave them and go with fxcm.

But I prefer to stick with them at the moment: there's no real evidence and I'm more sure about my failures than their ones. So, I don't want to waste my time bouncing from a broker to another.

Just my 2 pips.

FYI .... Its a US holiday today.

hi fmarcia, it's funny because 2 traders trading the same system, executing at same level, can have different outcome!! i used to trade spot, then moved to futures (which i like a lot more), now i'm here back to spot trying to remember how the spread stuff works. ty for your input

Do me a favor guys.. I want everyone to..

grab a pen and a piece of paper..

next.. spot a valid setup..

next.. recongnize the name of the setup.. write it down..

next.. recognize the fit defensive play.. write it down..

if you have done this simple steps correctly up to this point..

next.. ride the buy/sell botton..

if you have difficulty to follow the above steps... keep your finger off the push botton.

if its all good.. countinue..

next.. when you order is filled.. watch the price momentum in relation to the LV.. make a quick assessment.. write a quick note..

next.. recongnize the postion dealt.. is it a F or SF?.. write it down..

next.. if its a F.. you will lose anywhere from 5-15 pips.. write it down (eg. -10).. note: be relax and don't be jumpy.. this is your first battle after entery.. give it a good fight.. don't take yourself out with a spike.. remember our timeframe is 5minutes, u got to give it at least that.. and if its super fast and is running away and it takes your hards sl out.. big deal.. don't worry you got the other side of the coin too.. yes the 70pips runners..

next.. if its a SF.. you will play #1 scenario 1.. (SL 5 pips below/above LV).. and whenever thats done.. write it down (eg. +70.. ya think positive.. lol)

next.. wash and rinse..

next.. look for the next opportunity if you like..

entry short will be 1.4363 (BB , def G+)

I second that, ready to roll

Looking less constructive now but possible new fcr in the making

a little something something for you to look at..

after all this... this is the clearest setup that i could find after londi open.. this is how i will read it properly. watch the chart..

after all it is a weak and riskiest entery we can take in our setups.. but i would not pass up on it.. (eventhough i been notified several times that today is U.S HOLIDAYS..).. I might cut it short if act sissy but thats about it..

I look at it as its just another opportunity for me to put my trade managment skill up to the task and go for the kill.

yes i am crazy and wayyyyyyyy outside the box..

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Order short now 1.4362!!! Still shaping up so dont know still if it would be 123S or 123D. Will play apropriate defence in accordance to the development.

OUT FOR - 8..

nice try fx... write it down..

wash and rinse..

next.. looking for next opportunity..
but..
a quick assessment: market looks kind of choppy.. its more reveled to me now.. maybe you should take one more shot fxa before hanging it for the next session?.. ok.. will see.. maybe a reentery!!.. or a quick fcr the other way.. we will see..

I am relax watching the PA while zipping on my TEA..



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