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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)

  • #13,861
  • Jan 21, 2010 2:39pm Jan 21, 2010 2:39pm
sorry guys, had to rush to the hospital, my aunt collapsed. can't post anything tonight, dead tired, and last time i ate was 24hrs ago..see u tomorrow
  • #13,862
  • Jan 21, 2010 3:54pm Jan 21, 2010 3:54pm
Quoting bubola
sorry guys, had to rush to the hospital, my aunt collapsed. can't post anything tonight, dead tired, and last time i ate was 24hrs ago..see u tomorrow
Oh dear, I hope everything turns out ok for your Aunty. Speedy recovery and take care.
  • #13,863
  • Jan 21, 2010 4:45pm Jan 21, 2010 4:45pm
Current trade @ 4085 (re-entry), Playing 2G+.
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  • #13,864
  • Jan 21, 2010 4:59pm Jan 21, 2010 4:59pm
Re-entry bailed out for -7, total cost of test (-12 + -7 = -19)
Flat for now till Asia open, hopefully then we can get some action.
  • #13,865
  • Jan 21, 2010 5:09pm Jan 21, 2010 5:09pm
Back in for short trade.
  • #13,866
  • Jan 21, 2010 5:10pm Jan 21, 2010 5:10pm
Drop, you %%%%%%% !!

It's a BB trade and playing 2G+
  • #13,867
  • Jan 21, 2010 5:21pm Jan 21, 2010 5:21pm
My chart
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  • #13,868
  • Jan 21, 2010 5:24pm Jan 21, 2010 5:24pm
Bakuli!

Why did you reenter at 1.4085?
You wont survive without preserving!!!
  • #13,869
  • Jan 21, 2010 5:44pm Jan 21, 2010 5:44pm
Quoting coronajazz
Bakuli!

Why did you reenter at 1.4085?
I thought it was going to break out again to the downside after faking me out. I was wrong but it was ok as I was within my risk tolerance. In hindsight maybe I was short of patience. Usually my strategy is to look for a fcr trade or a lengthy period of consolidation in a tight range to get a BB trade. So am still making newbie mistakes but all good for the training.
I have now been trading this way for 2 weeks now (from 7/1/10) and have seen my account grow by 11.65% net up to date (I risk 2% per trade). I am very happy with my progress at this stage and once I can eliminate the newbie mistakes, I hope to see even better returns. And I trade a real account too with this strategy.

How are the rest of you guys doing ? Are you positive in your accounts? Would be nice to compare notes.
  • #13,870
  • Jan 21, 2010 5:52pm Jan 21, 2010 5:52pm
Quoting Bakuli
Back in for short trade.
Out for -12. Mr market is not playing ball. Never mind, I am just going to keep testing it till I get my runner then it's .....PAYDAY !!!!!
  • #13,871
  • Jan 21, 2010 5:59pm Jan 21, 2010 5:59pm
In again off fcr1 to long side.
  • #13,872
  • Jan 21, 2010 6:00pm Jan 21, 2010 6:00pm
I am down 7% from middle of november up to date. I keep a trading journal in bitmap though, and analyzing my trades I was doing a lot of stupid trades in december (continuations, bailing out without giving it a good LV fight, holding on too long - letting SL get hit, "preserving" to early). I am still doing a lot of mistakes but improving drasticaly with every day.
But lately I do not measure my success per given day on a pips won basis, but on "stick to the plan" basis. Pips and percentages will come with time.
You wont survive without preserving!!!
  • #13,873
  • Jan 21, 2010 6:23pm Jan 21, 2010 6:23pm
Quoting coronajazz
I am down 7% from middle of november up to date. I keep a trading journal in bitmap though, and analyzing my trades I was doing a lot of stupid trades in december (continuations, bailing out without giving it a good LV fight, holding on too long - letting SL get hit, "preserving" to early). I am still doing a lot of mistakes but improving drasticaly with every day.
But lately I do not measure my success per given day on a pips won basis, but on "stick to the plan" basis. Pips and percentages will come with time.
Hi Jazz, Thanks for the honest feedback. I am in total agreement with you on the "Stick to plan" basis. In fact that's what I do. In the past I was very indisciplined and never stuck to any method consistently, jumping from strategy to strategy. I think the key thing is, once you have found an edge (as we have with this strategy), just stick to it and work it todeath, lol! . Over time, we will get nicely compensated.

Anyone else wants to share their progress report with us nosey lot, inquisitive lot?
  • #13,874
  • Jan 21, 2010 6:34pm Jan 21, 2010 6:34pm
Quoting coronajazz
I am down 7% from middle of november up to date. I keep a trading journal in bitmap though, and analyzing my trades I was doing a lot of stupid trades in december (continuations, bailing out without giving it a good LV fight, holding on too long - letting SL get hit, "preserving" to early). I am still doing a lot of mistakes but improving drasticaly with every day.
But lately I do not measure my success per given day on a pips won basis, but on "stick to the plan" basis. Pips and percentages will come with time.
evening guys,
Just ready for this Asia morning trade.
have my stop sell at 83.

Corona nice spirit man.
Focus on performance rather in profit, like elizo's tag, like it
  • #13,875
  • Jan 21, 2010 6:45pm Jan 21, 2010 6:45pm
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
Good Day all the masters,
I have a question which not really answered for the past 9 months in forex because I really don't understand even after reading books and forums. I hope masters here may help me clear this.
.........................................................
Managing trade smartly and risking only 1% of account capital is the only way to have my head above the water else I will be sinking?
........................................................
E.g: My account capital is $1 000.
So my 1% risk is $ 10
Therefore my trade units is 2000
If I enter a trade of 2000 units, I will loss $10/ trade.
..........................................................
I read from here if not mistakenly, I should distribute my $10 risk.
Assume I plan to enter 10 trades so my 2000 units divide by 10 trades=
200 units a trade.
.........................................................
It is like this? I am so sorry if this is the most dummiest question.
I traded naked for the past 2 month. And suffer quite in drawdown. 7 winning trades than 2 massive super balls hitting me.
Shake it off!Lick the Wound,Prey Again!
  • #13,876
  • Jan 21, 2010 6:45pm Jan 21, 2010 6:45pm
Quoting Musanto
evening guys,
Just ready for this Asia morning trade.
have my stop sell at 83.

Corona nice spirit man.
Focus on performance rather in profit, like elizo's tag, like it
Evening, Musanto

I am in with you on the 83 if it happens. Right now I am in the heat of battle on the long side off a FCR. Looks like it's going in my favour for now.
  • #13,877
  • Jan 21, 2010 6:52pm Jan 21, 2010 6:52pm
Get up there you %%%%%%%!!!

Musanto, by the way I see a new fcr at 4088 (4091) now. Do you see the same?
  • #13,878
  • Jan 21, 2010 7:31pm Jan 21, 2010 7:31pm
Quoting Megara
Good Day all the masters,
I have a question which not really answered for the past 9 months in forex because I really don't understand even after reading books and forums. I hope masters here may help me clear this.
.........................................................
Managing trade smartly and risking only 1% of account capital is the only way to have my head above the water else I will be sinking?
........................................................
E.g: My account capital is $1 000.
So my 1% risk is $ 10
[color=black]Therefore...
Welcome to the thread
If I'm not wrong 2000 unit will give you $0.2 / pip
for $10 this worth 50 pips stop loss right ?
I only know how's oanda trading unit.

In here I never have a fix limited stop loss,
I meant some one can different from the other one.
(usually only 15-20 pips/ trade) .
What I'm doing here is limit the daily max losses,
that is 85 pips for me and distributed the 1% to the unit trade size.
My trade for a day often more than 4 trades

I'm not the master here,
go to page 790 post #11847, learn from the real master

Cheers
  • #13,879
  • Jan 21, 2010 7:33pm Jan 21, 2010 7:33pm
Quoting Bakuli
Get up there you %%%%%%%!!!

Musanto, by the way I see a new fcr at 4088 (4091) now. Do you see the same?

long at 15
fight now
was replying to Megara, no see ur post,
Yes I see it, but it went up before hit my short.
and I 'm long now at 15
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  • #13,880
  • Jan 21, 2010 7:40pm Jan 21, 2010 7:40pm
Quoting Musanto
long at 15
fight now
was replying to Megara, no see ur post,
Yes I see it, but it went up before hit my short.
and I 'm long now at 15
Ok, that's great I have you for company. I was long from 4092 but after a heated battle I chickened out and closed for +3. However when I saw price bouncing back up again, I re-entered with a market order at 4107.
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