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

The System (Irony included) 1,175 replies

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The System II (Yes with irony)

  • #13,581
  • Jan 19, 2010 7:30am Jan 19, 2010 7:30am
New generation, kickin' asses!!!!

WELL DONE, BOYS AND GIRL!
  • #13,582
  • Jan 19, 2010 7:35am Jan 19, 2010 7:35am
Out of my short trade for a 108 pips ride ! What a runner! Sorry not boasting (maybe just a little, lol) but trying to show why you need to cultivate that runner mentality as taught to us by FEb and FXA.

I have now gone long at 4290, 5 pips above the fcr at 4285. I normally just add 3 pips but had an additional 2 pips to go long on this trade. Didn't want my stop for the previous short trade to be too tight.

Going to see how this new trade pans out. If taken out, I am done for the day. Going to have a nice cold one (or two, or three, or....) after that.

Stick to the simple plan laid down for us here. It's really that simple.

Good trading to all,
B.
  • #13,583
  • Jan 19, 2010 7:46am Jan 19, 2010 7:46am
Trade set-up. Took a fcr1 for reversal trade to the long side. SL placed below the fractal at 4270. Going to watch how the battle at the LV line pans out. Finger at the ready to bail out. Playing #2G
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  • #13,584
  • Jan 19, 2010 8:04am Jan 19, 2010 8:04am
Quoting Bakuli
Trade set-up. Took a fcr1 for reversal trade to the long side. SL placed below the fractal at 4270. Going to watch how the battle at the LV line pans out. Finger at the ready to bail out. Playing #2G
Well trade was short lived. Out for - 15. Well can't win them all. That's it, I am done for the day.
Good luck all,
B
  • #13,585
  • Jan 19, 2010 8:09am Jan 19, 2010 8:09am
Quoting Bakuli
Well trade was short lived. Out for - 15. Well can't win them all. That's it, I am done for the day.
Good luck all,
B
Did enter this trade too....

But did exit at -2 pips for me... mostly because of speed lack... not sure about if i am right in my exit... but..... You get it!
  • #13,586
  • Jan 19, 2010 8:11am Jan 19, 2010 8:11am
I would bet 160 pips that FXA is still in the short trade!!!
You wont survive without preserving!!!
  • #13,587
  • Jan 19, 2010 8:14am Jan 19, 2010 8:14am
Quoting coronajazz
I would bet 160 pips that FXA is still in the short trade!!!

lol... I like u jazz..


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  • #13,588
  • Jan 19, 2010 8:21am Jan 19, 2010 8:21am
Quoting fxachilies
lol... I like u jazz..


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The master is still in ! Still so much to learn, your humble student.
  • #13,589
  • Jan 19, 2010 8:26am Jan 19, 2010 8:26am
bakuli and Dim and whoever that took the long fcr halucination after this big drop.. did a big mistake..

guys let things develop atleast if your gonna take a shot after a strong 100+ drop.. gotta see the loop atleast..



now.. ask for me..
I am sitting pretty.. I am in still from original entery moons ago and i am watching everything down from a +75 SL.. damn i like the sound of that, if you know what i mean..
this is a great position to be in and enough cushion to test the N.Y open for further gain.. if price is slick enough to get away from me and hit my sl then so be it.. out at +75..
but.. if goes deeper .. my seat gets even more lucrative than yours at the countinuation signal 100+ away from the 1st opportunity..

so i hope you get the hint that why i stay in the trades longer rather than think that i am Greedy..
  • #13,590
  • Jan 19, 2010 8:33am Jan 19, 2010 8:33am
Wow, i think this is the 3rd time i missed one of these big runners, still kicking myself, but i wish to ask a question...did anybody tighten up stops or close trades or did not take the initial trade, due to the 2 red news events for the euro and the usd tonight??

ps, my orders currently.
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  • #13,591
  • Jan 19, 2010 9:07am Jan 19, 2010 9:07am
Quoting fxachilies
bakuli and Dim and whoever that took the long fcr halucination after this big drop.. did a big mistake..

guys let things develop atleast if your gonna take a shot after a strong 100+ drop.. gotta see the loop atleast..



now.. ask for me..
I am sitting pretty.. I am in still from original entery moons ago and i am watching everything down from a +75 SL.. damn i like the sound of that, if you know what i mean..
this is a great position to be in and enough cushion to test the N.Y open for further gain.. if price is slick enough to get away from...
Sorry was away from the PC. Just read your post. Thanks for the feedback. In hindsight, yes the set-up wasn't really there. I must admit that I do take them quite often in trying to get in early but I do get your point about letting things develop and to look for that loop. Will keep this in mind for future set-ups.

Thanks once again.
  • #13,592
  • Jan 19, 2010 9:17am Jan 19, 2010 9:17am
Quoting skris
Wow, i think this is the 3rd time i missed one of these big runners, still kicking myself, but i wish to ask a question...did anybody tighten up stops or close trades or did not take the initial trade, due to the 2 red news events for the euro and the usd tonight??

ps, my orders currently.
If I am to be honest with you, I didn't even check the news calendar I was just trading the set-ups as they happened and managing it according to the plan (to the best of my ability of what I know at this stage - still plenty to read up on).

I trial my trades with the fcr's once I am in and in profit.

Am I being foolish not checking the calendar ? Any feedback welcomed.


Cheers,
B

ps by the way, I am now long again off the fcr at 4297 (4300). Wasn't going to trade anymore but couldn't help it when I saw that inviting loop.
  • #13,593
  • Jan 19, 2010 9:21am Jan 19, 2010 9:21am
ok i took 3/4 of the profit taken out at +90 after N.Y did not go where i wanted.. and i got 1/4 running with+65 locked..


now, watch point X (the shades)
that is a very common fakeout after a sharp strong runner.. its not for certain but based on my experience and many hours of screen time i have seen this repetitively happen a often..
however... i did take a shot.. but with a very aggressive G+ and gave away 9 pips..

just wanted to keep you aware of such situation when you face the next time.
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  • #13,594
  • Edited 9:53am Jan 19, 2010 9:29am | Edited 9:53am
Quoting fxachilies
ok i took 3/4 of the profit taken out at +90 after N.Y did not go where i wanted.. and i got 1/4 running with+65 locked..


now, watch point X (the shades)
that is a very common fakeout after a sharp strong runner.....
Once again, your words are reassuring. I was in this newbie trap like dim and bakuli. I took this one too (the X; and played it aggressively as well).

I was starting to think I was becoming too confident after the runner.

Good to know, I wasn't

Thank you.
  • #13,595
  • Jan 19, 2010 9:40am Jan 19, 2010 9:40am
Quoting fxachilies
ok i took 3/4 of the profit taken out at +90 after N.Y did not go where i wanted.. and i got 1/4 running with+65 locked..


now, watch point X (the shades)
that is a very common fakeout after a sharp strong runner.....
Ok. Thanks for those valuable observations. That fake out cost me -12. Just wasn't quick enough on the trigger and maybe giving it a bit more room than I should.
  • #13,596
  • Jan 19, 2010 9:56am Jan 19, 2010 9:56am
2 FCRs close together. Chop monster appearing on the scene? Any thoughts on it?
  • #13,597
  • Jan 19, 2010 10:35am Jan 19, 2010 10:35am
Anybody took the 123D continuation set-up?
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  • #13,598
  • Jan 19, 2010 10:47am Jan 19, 2010 10:47am
Quoting Bakuli
Anybody took the 123D continuation set-up?
I was out and missed this one. Anyway, I'm done for today.

It developed quite well at the beginning and it already broke the DB but not so frankly. It's stalling around it atm.

Good luck to you!
  • #13,599
  • Edited 11:27am Jan 19, 2010 11:17am | Edited 11:27am
Quoting fmarcia
I was out and missed this one. Anyway, I'm done for today.

It developed quite well at the beginning and it already broke the DB but not so frankly. It's stalling around it atm.

Good luck to you!
Thanks. It dropped for 19 pips in my favour but now gone back up re-test the LV line. I have moved my SL to 5 pips above that line so my risk is now only 8 pips should the market go against me.


Edit. Spoke too soon. Just got taken out for -8. Wash, rinse and repeat !
  • #13,600
  • Jan 19, 2010 11:42am Jan 19, 2010 11:42am
Quoting Bakuli
Thanks. It dropped for 19 pips in my favour but now gone back up re-test the LV line. I have moved my SL to 5 pips above that line so my risk is now only 8 pips should the market go against me.


Edit. Spoke too soon. Just got taken out for -8. Wash, rinse and repeat !
Inside brackets, after runners... it looks like there are situations where, even if figures are shaped, there are not so good to take.

I guess it's also what screen time is for...
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