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The System II (Yes with irony)

  • #14,061
  • Jan 25, 2010 2:53am Jan 25, 2010 2:53am
Morning, guys!

I had a one VERY BIG mistake this morning...

I was short from BB... everything was well. I definitely know the trade's tactic near the level-line (LV), of course! And did so many times for now.

BUT..... may be it is due to Mondat morning, may be I am still sleepy....lol

and I diD THE GREATEST MISTAKE! I did buy above 4152, as I did think this was a fcr2 setup..... I did it so and because of some momentum to the up site... and may be that momentum was because of the londi open..... I do not know....

Anyway - here you havw my honestly frank recognition ......


Your opinions are welcom! I just need them!
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  • #14,062
  • Edited 3:26am Jan 25, 2010 2:57am | Edited 3:26am
guys may illustration above is very aggresive position taking.. pulling it out down from the trenches..

but thats what i do.. more often then not i give away 10pips or so.. but when i do get it right oh boyyyyyyyy watch out.. we talking minimum of 50 big ones..

plus this one has all the ingredients of a faliure for the price to countinue the bear move after opening of the britts.. so i test the other side...
If and then baby...

lets see if it pans out..
  • #14,063
  • Jan 25, 2010 3:07am Jan 25, 2010 3:07am
Quoting dim4ik42
Morning, guys!

I had a one VERY BIG mistake this morning...

I was short from BB... everything was well. I definitely know the trade's tactic near the level-line (LV), of course! And did so many times for now.

BUT..... may be it is due to Mondat morning, may be I am still sleepy....lol

and I diD THE GREATEST MISTAKE! I did buy above 4152, as I did think this was a fcr2 setup..... I did it so and because of some momentum to the up site... and may be that momentum was because of the londi open..... I do not know....

Anyway - here you havw...

Bro I think that seems like a valid FCR2 to me ... you had 2 bars before and 2bars plus after ... however if u just pull back a bit you realise that at least to me that there was a BB forming before we joined short (1.4151 / 1.4173) ... since we have tested the short side now its seems to me the BB has expanded to 1.4129 / 1.4173. So normally that FCR2 would be valid but because it is still in the bigger BB I was not inclinded to take it. And looking for the BB to break.

However this is what I did I went short of the initial BB break of 1.4151 got stopped out by that FCR2 then went short again at the lower BB break .. that failed too .. so net net -20 pips for the day.

Price action seems choppy to me.

And am playing the BB now 1.4129 / 1.4173 ... anything in between seems to me like playing within the BB.

What do you think FX?
  • #14,064
  • Jan 25, 2010 3:09am Jan 25, 2010 3:09am
Quoting dim4ik42
Morning, guys!

I had a one VERY BIG mistake this morning...

I was short from BB... everything was well. I definitely know the trade's tactic near the level-line (LV), of course! And did so many times for now.

BUT..... may be it is due to Mondat morning, may be I am still sleepy....lol

and I diD THE GREATEST MISTAKE! I did buy above 4152, as I did think this was a fcr2 setup..... I did it so and because of some momentum to the up site... and may be that momentum was because of the londi open..... I do not know....

Anyway - here you havw...
i appreciate your honesty here D.. thats why i love you..

listen.. I tell you where the problem lays on this particular situation which i think is most peoples aswell..

simply its bcz not paying full attention to #1ply sc1.. if you all go by that you will not ever fall into such fakeouts situation
dige deep guys read that manytimes... practise it religiously and you will... look at me!!! you will prosper..
i am the living prof..


i made closed my BB entery at BE and now on this buy play..

ps) i could have closed my Sell BB play easily for +10 pips .. but that not my style .. i know that i will be practising a bad habit that will effect my bottomline to catch major major runners that i catch very often...
  • #14,065
  • Jan 25, 2010 3:17am Jan 25, 2010 3:17am
ok.. two shots so far.. BE and -9..
i will test this one more time at the LL just to make sure it did not decieve me.. ready to give away 10-15 pips more.. than if it fakes there, pretty much the chop is eveident then.. is in it? i think you all agree..

now did i pay for it to find out? you bet. howmuch? well about 20pips. do i give a shit? hell no. wh? bcz i am sticking to the plan. why? bcz it gives me a healthy bottomline, my long term RR is in my favor.. one runner will wipe the hell out of it.. and i normally get my runner sooner or later..

that is in nutshell..
so keep on plugging..
this trading like a mf pro.

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  • #14,066
  • Jan 25, 2010 3:28am Jan 25, 2010 3:28am
Quoting fxachilies
ok.. two shots so far.. BE and -9.....
Thanks Fx. I am following closely behind your footsteps (so much easier to learn when you watch a pro at work LIVE !). By the way I took the same two trades as you and got the same reseults i.e. BE and -9 ! Lol! I must be doing something right. I am glad I am in line with your thoughts about going for the runners.

cheers,
B
  • #14,067
  • Jan 25, 2010 3:33am Jan 25, 2010 3:33am
Have order to go short at 1.4127 ... lower BB break.
  • #14,068
  • Jan 25, 2010 3:42am Jan 25, 2010 3:42am
Quoting fxachilies
i appreciate your honesty here D.. thats why i love you..

listen.....

Thank you, Brother for help!

Now I see even more clear my mistake.... yep - #1 Sc.1... OF COURSE!

I did read your post 11758 a lot of times.... (honestly - more than 6 times)... but - I do not know why (may be nobady knows lol..), but it looks to me something like your exemple at Friday, when there was a reversal from top and a FCR to dawn site at 4146. it looks to me something similar...

If today were no such formation like a FCR 2 below the level - i definitely would not take that wrong long... sure... But... but... but.... Anyway - I love to practice and learning....
Every mistake is a lesson for me.... Lessons which are written by blood - will be not forgotten!!!!!!


Thank you, brother!!!!!
  • #14,069
  • Jan 25, 2010 3:48am Jan 25, 2010 3:48am
Classic example all live:
a given and take.. on a realy entery (fcr & BB).. and a later entry of 123..

as you see point x.. early entery with a SF easier/better trade management, and point Y.. a later entry supposedly a safer way but still a fake out and harder trade management..

and the flip side..

you see point X1.. early entry with da fake out.. and point Y1, no entry saved from fakeout..

i have open this up for you like a can-opener..

this is the moment of truth..
now.. this is a one of FXA's quiz time again..

pick and choose and give your sound, thoughtfull position on this in one short post..

make me proud..

I be back in 1hr..

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  • #14,070
  • Jan 25, 2010 3:48am Jan 25, 2010 3:48am
Quoting DesertFX
Bro I think that seems like a valid FCR2 to me ... you had 2 bars before and 2bars plus after ... however if u just pull back a bit you realise that at least to me that there was a BB forming before we joined short (1.4151 / 1.4173) ... since we have tested the short side now its seems to me the BB has expanded to 1.4129 / 1.4173. So normally that FCR2 would be valid but because it is still in the bigger BB I was not inclinded to take it. And looking for the BB to break.

However this is what I did I went short of the initial BB break of 1.4151...

Wow, my friend... You did see it too...... Than - I am normall...lol

Thank you for your advice about range.... and wide BB.
I need to be more careful by trading.

Thank you!
  • #14,071
  • Jan 25, 2010 3:54am Jan 25, 2010 3:54am
Upper bracket 4159 order in place. #2G+
  • #14,072
  • Jan 25, 2010 3:55am Jan 25, 2010 3:55am
Quoting dim4ik42
Wow, my friend... You did see it too...... Than - I am normall...lol

Thank you for your advice about range.... and wide BB.
I need to be more careful by trading.

Thank you!
but Dim, if I recall rightly from reading somewhere in this thread, we want to be ABNORMAL ! Lol!
  • #14,073
  • Jan 25, 2010 3:59am Jan 25, 2010 3:59am
Quoting Bakuli
but Dim, if I recall rightly from reading somewhere in this thread, we want to be ABNORMAL ! Lol!
but it seems like I am abnormal twice... so - normal.... lol...

And I want to be true abnormal guy!
  • #14,074
  • Jan 25, 2010 4:03am Jan 25, 2010 4:03am
Quoting dim4ik42
but it seems like I am abnormal twice... so - normal.... lol...

And I want to be true abnormal guy!
He he

This is what I thought too

Being normal the system 2 way, means you have to be fricking crazy the normal way.
You wont survive without preserving!!!
  • #14,075
  • Jan 25, 2010 4:04am Jan 25, 2010 4:04am
Quoting coronajazz
He he

This is what I thought too

Being normal the system 2 way, means you have to be fricking crazy the normal way.
  • #14,076
  • Jan 25, 2010 4:15am Jan 25, 2010 4:15am
FXA, not sure wot the question is exactly...

My opinion is if you want to be saved from fakeout by not testing the market....don't even think about catching a runner....

Maybe I am thinking to simple...


Quoting fxachilies
Classic example all live:
a given and take.. on a realy entery (fcr & BB).. and a later entry of 123..

as you see point x.....
I follow THE PLAN to Survive & Preserve..
  • #14,077
  • Jan 25, 2010 4:17am Jan 25, 2010 4:17am
Quoting fxachilies
Classic example all live:
a given and take.. on a realy entery (fcr & BB).. and a later entry of 123..

as you see point x.....
Not sure if I am answering the question asked but here it is, my 2 cents. I would always choose the earlier aggressive entries, which although looks riskier, is actually less risky in the long run. The advantage of entering the early set-ups is the opportunity to get into the driver's seat earlier. This makes the defensive plays easier to manage and also we are on board from the start off point (so we get the maximum benefit of a run when it happens).
  • #14,078
  • Jan 25, 2010 4:19am Jan 25, 2010 4:19am
Quoting fxachilies
Classic example all live:
a given and take.. on a realy entery (fcr & BB).. and a later entry of 123..

.... a can-opener..

this is the moment of truth..
now.. this is a one of FXA's quiz time again..

pick and choose and give your sound, thoughtfull position on this in one short post..

make me proud..

I be back in 1hr..

http://cdn.forexfactory.com/images/attach/gif.gif
I call X1 is a BB test entry.
FCR X1 always initially by a clean big swing, and always take a reverse direction of the swing . If X1 break, but the breaking price won't break the highest swing price, this is a confirmed about a BB trade between the swing.


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  • #14,079
  • Jan 25, 2010 4:32am Jan 25, 2010 4:32am
Anyone in on the upper BB break ? I am in .
  • #14,080
  • Jan 25, 2010 4:34am Jan 25, 2010 4:34am
With you
I marked it down as a 123D set-up....

Quoting Bakuli
Anyone in on the upper BB break ? I am in .
I follow THE PLAN to Survive & Preserve..
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