The System II (Yes with irony)

Yes, My real name is BAK32188UK. I was made in the Far East but exported here to work in the UK.

Down! Down! get down , you %%%%%% ! I want that runner !!!! Let me see a long red candle and then I can shout "baaaaammmmmmmmmm!!!"

(Please excuse me, I am just talking to myself to stay awake, LOL!)

Short trade gently dropping down. Nice to be in driver's seat when you win the early fight. Playing #1

Watching the retracement closely now. Nothing unusual happening yet. Normal price movements (ie moving up or down in waves)




edit ..Lol! got carried away and forgot market would be closing for the W/E...........market now closed and I didn't close my short trade as intended !

this is the full post about the pull from our mentor Feb,

"If you want to be a smarty-ass about news...simply take the other side of the pull......normally wait 30 minutes and when the move is over take the other side of the trade.

10:00 O' clock news are sweeter than 8:30."



Can FXA maybe elaborate further on this?

thats it guys.. thats what it is in the nutshell.. thanks MM.

my only advise on this one is to wait for the dust to settle around 30 min or so that feb suggested but still wait mostly for a fcr to shape up so you have some sort of a clue about the reversal part of the move..
i can most times spot the faliure early and get in base on that assumption but to this day even with feb on a live chat aside me and feeding me with info.. i still wait for a fcr to be formed before putting my money on the line.. bcz things can happen in the matter of seconds or a minute around news.. who knows maybe a big gun gets a erection a 40 min later, just to fuck with the other guy or screw the market for a quick pay or whatever, and drops a 100mil on one side and the faliure that i spoted without a definet entery point (fcr) and screws me up in the vast of ocean for me to nowhere to look at but to press the panic button and lose.
worst feeling as a trader..

it doesn't say that this can not happen when u do act on a fcr.. but its less likely and you are somewhat protected bcz of the other big guns and the herd looking at that spot and having orders around it so could be either a big time breakout or a fakeout.. which in the case of fakeout your not lost and you apply a soft G+ and countribute your share of 20 pips to the bigger guys..
thats it.. another form of wash and rinse..

I hope it helps..

Thanks FXA. Much appreciated taking time off your weekend to answer question.


edit - Some posts relating to the pull that I came across so far
http://www.forexfactory.com/showpost...ostcount=10372
http://www.forexfactory.com/showpost...ostcount=10410

Thanks FXA and as always fantastic clarification.

Yipppeeeeeee!!! I am nearing the end of this thread !!! Been up all night most nights reading trying to catch up with this runaway thread. What a read it has been, lots of hidden diamonds in there (if you haven't read it yet!)

Thought I'd share how I keep notes of this vast thread because all the information can easily get "lost" if not stored in an organised manner. What I have done is to save the important posts under different headings in word documents. For example I have 1) Structure/Plan 2) Trade samples 3) Money management , etc ..well you get my drift.
This will make it much easier to quickly glance at a subject and retrieve the relevant notes. It makes revision so much easier.

OK, please do not pm me for the notes ! Because it won't be in keeping with the thread. No short cuts. You have to read it all !

However I can post a link here to get you started
http://www.forexfactory.com/showpost...ostcount=11847

Take it from me and the others who have endeavoured to do the hard work here (actually that's the easy part as all the hard work has been done for us by FEB the mentor and FXA his second in command). Read the whole thread & practice the hell out of the knowledge gained here. I really believe that this will be a life changing experience for you as a trader and person. Also It's not just all about trading but also a lesson about giving ( when you get to see how certain individuals have helped so many others when they could have selfishly kept their "secrets" I think I don't need to say who they are as we should all know by now!).

OK, I am off to finish the last few pages and then go get some well deserved sleep! Lol! I think I will be too excited to sleep though with all the gems that I have picked up floating in my head. A final word before I go, The PLAN works but you need to practice the hell out of it with real money. I have been trading for over 2+ years and this is the first time I have become so consistently profitable trading such a short time frame (despite the newbie mistakes I am making as I practice this new way). I have had quite a lot of losses over the 2 weeks but I am still showing a healthy bottomline from just a few runners! I have only traded this for the last 2 weeks but I know this is as close to the holy grail you're going to get !

Many thanks to FEB & FXA, two of the very best !!!

Have a nice day/evening all,
B

thx for simple trading system

Hey Guys

Just starting out with this thread. Got a long way to go.

Before I get started, is it worth the journey ?

-------------------
Every day is a new life to a wise man

No, it's not worth it ! It's a bloody waste of time. Now are you going to take my word for it or are you going to find out for yourself ?

Hi Astellas,

Providing you are:

1. Prepared to invest the time in reading the thread.
2. Leave any preconceptions (and indicators) at the door.
3. Follow the rules of the thread with respect.
4. Are happy with 5M charts and are able to trade for extended periods of time, not just half an hour here, half an hour there.

Then yes it is definitely worth it. Put in the time and you will be welcome and find a great and supportive family here.

Start by reading post 11847 (page 790).

def a simple system but the tough part is in executing this with every valid setup sticking to the plan day in and day out to be successful in catching the runners. I am learning everyday and thanks to this great forum.

the simple fact that this thread is 935 pages long, should give you a clue of its worth.

I want to add my humble opinion to the discussion from last few posts. Although the importance of experience and practice was already mentioned, I just want to emphasize that as crucial to the way of success and consistency.

I have been through a lot of professional endeavours throughout my life so far. I ve been a fulltime musician, a bakery manager, worked in international transport company, a soldier, a pizza restaurant owner (and learned to make pizzas myself), and now I own a small retail shop chain. All this jobs I had required for me to learn different crafts, so I can be able to at least "hold my head above the water" in the bussiness so to speak.

Some of the crafts, like pizza making, required only a small list of instructions and a little practice, so you can get to the moderate level of craftsman. Some of them, like playing guitar, required much more (22 years and still learning). Trading belongs to the second.

What I want to say is reading the thread alone, although looks like a massive job to do, WILL NOT BE ENOUGH. This comes as a warning. So for anyone that feels that the sole reading is hard for them, that is only a beggining, a prerequisite, so that you can start learning. Also previous experience in trading will surely help you out, not so much because of the way you traded, or things you have learned but because of your exposure to price action or screen time.

My post is not to discourage anyone, on contrary, to bring an optimisic message. I shouldnt feel bad when I trade the same methodology, and still make a -50 week, while some of the more experienced traders posts +250 on the same week. They have been where I am now, paid their dues to the market, and now are unselfishly passing the torch to me so I can join them as soon as possible. But I have to pay my dues too.

hear hear, perfectly stated coronajazz

Thank-you everybody for the prompt feedback.

Davidb – Informative, concise, and to the point. Thanks for the heads-up on post 11847. That will be of great help, and a good reference point to stay on track.

Coronajazz – Thanks for adding your humble, yet honest opinion. Insightful analogy. How many years in are you ? I’m on 4, and am still at best a break-even trader.

Nice fight going on at the LV line if anyone took the break @4157 (4160).

Bailed out -3 , #2G play.