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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)

  • #13,601
  • Jan 19, 2010 7:21pm Jan 19, 2010 7:21pm
Baaammmmmmm! Well worth the wait !
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  • #13,602
  • Jan 19, 2010 7:43pm Jan 19, 2010 7:43pm
Yes I was in that one too, patience, patience, patience! This asian session is hard to trade, but have a plan and follow it thanks to Feb and FX, you will be rewarded. FX you are unbelievable, I can't thank you enough and every one else here. Trading this session has taught me one thing in particular that I recognize well, price ranging and lack of volitility. FX, I think you have a lot more for us to learn, but as all great teachers you will show us when you think we are ready. Thank You FX, Feb and everyone.
  • #13,603
  • Jan 19, 2010 7:56pm Jan 19, 2010 7:56pm
Quoting Bakuli
Baaammmmmmm! Well worth the wait !
Bakuli,

Nice trade. So you trade the euro at any time of the day, how are you finding your success during the asian sessions?

thanks in advance
  • #13,604
  • Jan 19, 2010 8:09pm Jan 19, 2010 8:09pm
Quoting lastchance
Yes I was in that one too, patience, patience, patience! This asian session is hard to trade, but have a plan and follow it thanks to Feb and FX, you will be rewarded. FX you are unbelievable, I can't thank you enough and every one else here. Trading this session has taught me one thing in particular that I recognize well, price ranging and lack of volitility. FX, I think you have a lot more for us to learn, but as all great teachers you will show us when you think we are ready. Thank You FX, Feb and everyone.
That's brilliant ! It was a lucky trade for me as I wasn't thinking of trading. Had an eye on the fcr at 4271 (eclipse in chart) and when I saw the price moving funnily, sort of fast and jumpy towards the fcr, I quickly entered a market order and got in at 4268 (which incidentally would have been where my sell stop would have been ie 3 pips below). How lucky was that ?

And yes we can't thank FEB and FXA enough for showing us such a simple way of trading once we can develop the right mindset for it.

Moved my SL to 3 pips above the fcr formed. +25 pips guaranteed and nice position to be in at the driver's seat. Just remember to keep the runner mentality. We don't know what the market is going to do. It could retrace and take me out at that fcr or it could just continue dropping! (yes, please0
Who says Asia session is boring ? Lol!

Trade well,
B
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  • #13,605
  • Edited 8:45pm Jan 19, 2010 8:19pm | Edited 8:45pm
Quoting skris
Bakuli,

Nice trade. So you trade the euro at any time of the day, how are you finding your success during the asian sessions?

thanks in advance
Thanks Skris.

I just trade the set-ups at anytime I see it, whenever I am at my PC (which is nearly 24/7, Lol!).
I have been noticing some big moves during the Asia session but I must confess I haven't been monitoring this long enough to give you reliable stats. But this can be easily done by looking at the historical charts.
I think the important thing is to able to recognise the opportunities as they present itself, doesn't matter which session it is in.
This is such a simple and powerful strategy once you get used to the idea of losing . Test (lose -borrowed from JPLO)), test(lose), test(lose), and then baaammmmm!(payday!) (like FXA will say).

nb. the trick is to keep the tests (loses) small though with the defensive plays presented to us by FXA.
  • #13,606
  • Jan 19, 2010 8:33pm Jan 19, 2010 8:33pm
That is exactly right Bakuli, keep loses small and learn to take the losses. When the bus arrives be on it.
  • #13,607
  • Jan 19, 2010 8:56pm Jan 19, 2010 8:56pm
Chart showing a gap of 2 pips between the two candles. This explained the jumpy fast movement I was witnessing just before I took the trade which resulted in a fast breakout. A useful observation for future reference.
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  • #13,608
  • Jan 19, 2010 9:13pm Jan 19, 2010 9:13pm
Out for +43.

It's 3.07 am , UK time. Time to get my 6 hrs sleep as ordered by FXA, lol! Well, it won't be quite 6 hrs as I have to be up by 7am (going out to London with some friends).

Good night.
Trade well and be safe,
B.
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  • #13,609
  • Jan 20, 2010 12:01am Jan 20, 2010 12:01am
Catching the worm with the early bird. Period of consolidation. Short at break of bottom of bracket. #2G+.
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  • #13,610
  • Jan 20, 2010 12:08am Jan 20, 2010 12:08am
Quoting Bakuli
Catching the worm with the early bird. Period of consolidation. Short at break of bottom of bracket. #2G+.
Going to close if hit 4197 again for -9
  • #13,611
  • Jan 20, 2010 12:16am Jan 20, 2010 12:16am
Quoting Bakuli
Going to close if hit 4197 again for -9
Taken out for -9. Wash, rinse, repeat ! Waiting for next valid set-up.
  • #13,612
  • Jan 20, 2010 12:17am Jan 20, 2010 12:17am
Good morning Bubola, JPLO, and rest of gang !
  • #13,613
  • Jan 20, 2010 12:20am Jan 20, 2010 12:20am
gm, nice asian
  • #13,614
  • Jan 20, 2010 12:29am Jan 20, 2010 12:29am
Quoting bubola
gm, nice asian
Yes, caught it just before I was going to bed. Managed it till taken out at 4225. In hindsight my SL was too tight. Better position would have been just above fractal at 4240 ( Would still be in that trade and no need for riskier entry taken on break of bracket).
  • #13,615
  • Jan 20, 2010 12:32am Jan 20, 2010 12:32am
Would anyone consider a re-entry at 4188 ? Market returning back to breakout point.
  • #13,616
  • Jan 20, 2010 12:36am Jan 20, 2010 12:36am
Quoting Bakuli
Would anyone consider a re-entry at 4188 ? Market returning back to breakout point.
Ok am back in. SL placed at above fractal formed. Let's see how it pans out. Won't be trading long this morning, going out for the day.
  • #13,617
  • Jan 20, 2010 12:41am Jan 20, 2010 12:41am
Quoting Bakuli
Ok am back in. SL placed at above fractal formed. Let's see how it pans out. Won't be trading long this morning, going out for the day.
Out -5. Didn't work out. Cut short early.
  • #13,618
  • Jan 20, 2010 12:47am Jan 20, 2010 12:47am
fcr 4202.
  • #13,619
  • Jan 20, 2010 1:06am Jan 20, 2010 1:06am
Trade set-up. Playing #2G. Not showing much momentum, probably because gone back inside bracket (?). Have hard stop at 4186 but will cut off trade at around the 4193 level if breached.
Any feed-back ?


NB. I am a learner, do not follow me ! Follow at your peril ! Wait to follow FXA. My posts are for learning purposes and feed-backs. I trade a real account though ( so any mistakes will cause me real pain, lol!)
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  • #13,620
  • Jan 20, 2010 1:06am Jan 20, 2010 1:06am
Quoting Bakuli
Thanks Skris.


This is such a simple and powerful strategy once you get used to the idea of losing . Test (lose -borrowed from JPLO)), test(lose), test(lose), and then baaammmmm!(payday!) (like FXA will say).

nb. the trick is to keep the tests (loses) small though with the defensive plays presented to us by FXA.
Agreed. But keeping loses small doesn't mean to get out early from them and miss the potential runners, and to reentry everytime after bailing out if the market resumes the original direction of our shot.

It's a typical mistake -tell me about it!- to get stressed after 5 losing shots, avoid the next signal and stay looking at the screen like an idiot (which doesn't mean to overtrade inside a range!). Fortunately, hard work and tenacity will heal this.

I think that's a great summary of this strategy.
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