The System II (Yes with irony) | Page 682 | Forex Factory

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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)

  • #13,621
  • Jan 19, 2010 11:09pm Jan 19, 2010 11:09pm
Saw that bad monster red candle coming at me. Bailed out quick at 4193.
  • #13,622
  • Jan 19, 2010 11:22pm Jan 19, 2010 11:22pm
Quoting elizo
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.
Good morning Elizo.

I am sure everyone agrees the strategy is easy but getting the mindset right is the hardest, imho. It has taken me over 2 years to be able to think differently (still a lot to learn) and now starting to see the benefits of it, thanks to this thread ! What helped me most was seeing FXA take on the market live and his attitude to losers. That got me thinking and changing!
  • #13,623
  • Jan 19, 2010 11:34pm Jan 19, 2010 11:34pm
FCRs bunching up. Chop monster is here.
  • #13,624
  • Edited 11:47pm Jan 19, 2010 11:34pm | Edited 11:47pm
Good Morning,

Guess what guys... 1/4 still going..

I must have been in a direct contact with the Asians to ping point that drop.. lol

but Mama Forest says.. "life is like a box chocolate, you just never know whatcha gonna get."


if you think there is some kind of a magic to it.. well there is none.

its all trade/risk managment according to following the plan.


i put this on a 30m charts for a visual purpose, thats all.

http://cdn.forexfactory.com/images/attach/gif.gif
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  • #13,625
  • Jan 19, 2010 11:43pm Jan 19, 2010 11:43pm
Quoting fxachilies
Good Morning,

Guess what guys... 1/4 still going..

I must have been in a direct contact with the Asians to ping point that drop.. lol

but Mama Forest says.. "life is like a box chocalte, you just never know whatcha gonna get."


if you think there is some kind of a magic to it.. well there is none.

its all trade/risk managment according to following the plan.


i put this on a 30m charts for a visual purpose, thats all.

http://cdn.forexfactory.com/images/attach/gif.gif
Brilliant. That's what I want to emulate instead of jumping in and out.
  • #13,626
  • Jan 19, 2010 11:59pm Jan 19, 2010 11:59pm
My orders for this morning 1.4215 long 1.4180 short.
You wont survive without preserving!!!
  • #13,627
  • Jan 20, 2010 12:03am Jan 20, 2010 12:03am
Quoting coronajazz
My orders for this morning 1.4215 long 1.4180 short.
Same there with you Jazz. Short now in play.
  • #13,628
  • Jan 20, 2010 12:07am Jan 20, 2010 12:07am
i am in too boys for the short... now lets live play this babyyy..

watch the speed and rhythm of price around LV..



now this is a BB and G+... i have a predermined SL in my head as i watch the price.. (10pips above the LV)
  • #13,629
  • Jan 20, 2010 12:11am Jan 20, 2010 12:11am
Quoting fxachilies
i am in too boys for the short... now lets live play this babyyy..

watch the speed and rhythm of price around LV..



now this is a BB and G+... i have a predermined SL in my head as i watch the price.. (10pips above the LV)
Right on, Bro. Bubola, please sing our favourite song! LOL!
  • #13,630
  • Jan 20, 2010 12:17am Jan 20, 2010 12:17am
Jazz...
pay close attention as i live play this.. this is mostly for you..

as u all see i got this imaginary perderimend spot for my exit.. now the reason i do not put a hard sl there... bcz i want to see price reaction to the LV.. as to if it breaks it or not.. if does how it does break it.. is just a 30sec spike or it will close a candel above... overall watching of it like a hawk, to get a clue of its attention in a reasonable time table, before i make a decision of bailing out and putting a reentery order..

stay tune..

http://cdn.forexfactory.com/images/attach/gif.gif
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  • #13,631
  • Jan 20, 2010 12:20am Jan 20, 2010 12:20am
I am still holding. Now I wouldnt let it pass too much above the turning point at 1.4188. But also want to get out if this, or the next candle doesnt break the low at 1.4175.

Comments appreciated. I am a newbie.
You wont survive without preserving!!!
  • #13,632
  • Jan 20, 2010 12:21am Jan 20, 2010 12:21am
http://cdn.forexfactory.com/images/attach/gif.gif
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  • #13,633
  • Jan 20, 2010 12:24am Jan 20, 2010 12:24am
Thank you FX. I will pay attention and not comment too much now (keep my mouth shut). I posted my post before I saw your live explanations.
You wont survive without preserving!!!
  • #13,634
  • Jan 20, 2010 12:25am Jan 20, 2010 12:25am
Quoting coronajazz
I am still holding. Now I wouldnt let it pass too much above the turning point at 1.4188. But also want to get out if this, or the next candle doesnt break the low at 1.4175.

Comments appreciated. I am a newbie.
Jazz... give it one "good 1st fight"... try to remember my words in the heat of the battle... just like i do, who remembers febs words when i am in the heat of the battle..
  • #13,635
  • Jan 20, 2010 12:29am Jan 20, 2010 12:29am
guys in relation to LV and timetable..

its been 25 min passed since our triggered time.. price is stalling around the LV.. its having a hard time to really break it above/below.. but its not showing much speed at all on each side.. so the next move from you after such stalling time.. is when u see the next spring kinda thing for upward then you give it no mercy and get the hell out.. otherwise stay put for now..
  • #13,636
  • Jan 20, 2010 12:32am Jan 20, 2010 12:32am
outttttttttttttttttttttttt
  • #13,637
  • Jan 20, 2010 12:36am Jan 20, 2010 12:36am
WOW!

Well I do not know for you folks. But this was one of the most valuable lessons I ve had.

"The spring after price stall". This is a diamond.
You wont survive without preserving!!!
  • #13,638
  • Jan 20, 2010 12:38am Jan 20, 2010 12:38am
I was in this short too.
But I did see your post, fx. So, I played it #2G+. Result: -11.
Anyway, I did like its way to make little HH and HL after the breakout.
  • #13,639
  • Jan 20, 2010 12:39am Jan 20, 2010 12:39am
Quoting fmarcia
I was in this short too.
But I did see your post, fx. So, I played it #2G+. Result: -11.
Anyway, I did like its way to make little HH and HL after the breakout.
Am out -11 too.
Enjoyed that live play very much too.
  • #13,640
  • Jan 20, 2010 12:39am Jan 20, 2010 12:39am
Quoting fxachilies
outttttttttttttttttttttttt
Thanks FX for giving near live explainations about a trade.

Daniel
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