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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)

  • #13,821
  • Jan 21, 2010 6:15am Jan 21, 2010 6:15am
taken out.. well, i did what i thought i had to do...learn, wash, rinse and repeat...i'm just happy that we caught that signal up there, right fmarcia?
  • #13,822
  • Jan 21, 2010 6:21am Jan 21, 2010 6:21am
Quoting bubola
taken out.. well, i did what i thought i had to do...learn, wash, rinse and repeat...i'm just happy that we caught that signal up there, right fmarcia?
Right, bubola

Wash, rinse and repeat

I gonna sit on my hands now, until NY opens and shows us what it want to do.
  • #13,823
  • Jan 21, 2010 6:23am Jan 21, 2010 6:23am
I dont know what others are thinking but I would be very happy to take a long if this red candle develops into a shallow pullback. On a 1-2-3 of course.
You wont survive without preserving!!!
  • #13,824
  • Jan 21, 2010 6:33am Jan 21, 2010 6:33am
Quoting bubola
taken out.. well, i did what i thought i had to do...learn, wash, rinse and repeat...i'm just happy that we caught that signal up there, right fmarcia?
The important thing is you stuck to your PLAN. The way I look at it is that the plan presented to us is flexible. We just have to find our own way of working it once we have spent the necessary screentime and experimenting with how we identify the set-ups, how we apply it, etc.

I stuck to my plan of playing that fcr1 off 4057. This time it worked in my favour but it could easily have gone your way. What I am trying to say is we were both right in our decisions. My plan was to trade a reversal and yours a continuation. This time it went my way but next time it could go easily go against me.
The key word is to be consistent in what you do once you find a way of exploiting the Plan. I have found my way of working it and I am sure you will too.

Cheers,
B
  • #13,825
  • Jan 21, 2010 6:36am Jan 21, 2010 6:36am
Quoting Bakuli
The important thing is you stuck to your PLAN....
thanks bakuli, but..
i'd hate to see us battling on opposite grounds... let's take same signals all together, shall we??
  • #13,826
  • Jan 21, 2010 6:38am Jan 21, 2010 6:38am
Quoting Bakuli
The important thing is you stuck to your PLAN....
I second you, bakuli. Yes, the big secret is to have a personal plan and stick to it. Period.

Good luck with this long
  • #13,827
  • Jan 21, 2010 6:41am Jan 21, 2010 6:41am
My trade.
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  • #13,828
  • Jan 21, 2010 6:42am Jan 21, 2010 6:42am
Quoting bubola
thanks bakuli, but..
i'd hate to see us battling on opposite grounds... let's take same signals all together, shall we??
'Oh ye'll take the high road and I'll take the low road, An' I'll be in Scotland before ye',
We may get to " Scotland" in different ways, but let's make sure that we get there together
  • #13,829
  • Jan 21, 2010 6:44am Jan 21, 2010 6:44am
Quoting bubola
thanks bakuli, but..
i'd hate to see us battling on opposite grounds... let's take same signals all together, shall we??
We are usually on the same signals but I think maybe the news may have influenced decisions a bit. Need you to do that song for me now that you're flat.
Thanks,
B.
  • #13,830
  • Jan 21, 2010 6:49am Jan 21, 2010 6:49am
Long now 1.4087. This swing that started with the speech may be a beggining of a reversal and I dont want to be an audience there. But it could also serve as an invitation for the late bears to join the bearish party. Very alert on this trade.

And out -16.
You wont survive without preserving!!!
  • #13,831
  • Jan 21, 2010 6:53am Jan 21, 2010 6:53am
Quoting Bakuli
We are usually on the same signals but I think maybe the news may have influenced decisions a bit. Need you to do that song for me now that you're flat.
Thanks,
B.
true, was influenced by the news...scenario #3 states that folks, we must look for runners, but either play #1 aggressively, or, if fcr is broken, get the hell out and reverse!! i solemnly swear not to look at calendars anymore...and i'm singing AND dancing for you ...ride'em, cowboy
  • #13,832
  • Jan 21, 2010 6:57am Jan 21, 2010 6:57am
Quoting fmarcia
I second you, bakuli. Yes, the big secret is to have a personal plan and stick to it. Period.

Good luck with this long
Thanks. Yes, that's the big secret ! Seriously, I really believe that we can "skin" the cat in many different ways with the same plan. I was a failing trader before I came across FXA's plan. What really changed for me is that I have applied the Plan religiously (with newbie mistakes of course) once I formed in my mind how I was going to use it. I was especially keen on the FCR's, which I think is such a brilliant early entry with the defensive plays. I just kept pluggging away at as many set-ups as I came across just to get the feel for it. Even with mistakes made along the way, my account is showing a healthy balance (and I am not ashamed to say that it hasn't that way for quite a while).
  • #13,833
  • Jan 21, 2010 7:07am Jan 21, 2010 7:07am
Quoting coronajazz
Long now 1.4087. This swing that started with the speech may be a beggining of a reversal and I dont want to be an audience there. But it could also serve as an invitation for the late bears to join the bearish party. Very alert on this trade.

And out -16.
The FCR offers the earliest and least risky entry. Majority of my trades are based off them and it has helped me alot. I keep it very simple and just keep testing it and I don't bother with news. I always have a hard stop in place whenever I enter a trade, so as to protect my account.
  • #13,834
  • Jan 21, 2010 7:14am Jan 21, 2010 7:14am
Out for +8, now entered short off fcr2 at 4069 (4066), playing #2G
  • #13,835
  • Jan 21, 2010 7:17am Jan 21, 2010 7:17am
Bakuli,
I'm there with you
  • #13,836
  • Jan 21, 2010 7:23am Jan 21, 2010 7:23am
Quoting Bakuli
The FCR offers the earliest and least risky entry. Majority of my trades are based off them and it has helped me alot. I keep it very simple and just keep testing it and I don't bother with news. I always have a hard stop in place whenever I enter a trade, so as to protect my account.
I know. I canceled that trade because of the speech. Who knows how that one might of ended. As I said I would of kept it if I was in a profitable position, and everyone of you made a right decision. But I dont want to enter in the heat of the Trichet speech. It is beyond my level of comfort, and I know how bad I do trade when I am not in comfort with the trade.I would do the same thing again..

I am short now from 1.4065. It would be great if I can build a few pips on this one before the release, and if not, like you said, we have our defensive plays.

In my humble experience, things can turn out very bad, even on straigthforward days if you miss the early London train, which I did today because of a meeting I had with an out of town friend. But at least I restrained myself from entering continuation, and this is the first valid shot by my views for today.

But, I had I really good time with my friend. And that`s what is most important.
You wont survive without preserving!!!
  • #13,837
  • Jan 21, 2010 7:28am Jan 21, 2010 7:28am
Quoting heronlake7
Bakuli,
I'm there with you
Battle at the LV has commenced ! My right index finger is getting sore from all these battles. Lol! Occupational hazard !.
  • #13,838
  • Jan 21, 2010 7:31am Jan 21, 2010 7:31am
Quoting coronajazz
..........................But, I had I really good time with my friend. And that`s what is most important.
I totally agree. We mustn't forget our family and friends. They are more important than money.
  • #13,839
  • Jan 21, 2010 7:35am Jan 21, 2010 7:35am
Out for -12, too slow on the trigger.

Now staying flat. Going to watch for now. Will be calling it a day soon.
  • #13,840
  • Jan 21, 2010 7:35am Jan 21, 2010 7:35am
out at -14
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