The System II (Yes with irony) | Page 717 | 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)

  • #14,321
  • Jan 26, 2010 9:57am Jan 26, 2010 9:57am
Tough day on this NY session... so many fakes and WRs on the downside only tell me one thing: my long on the first FCR available.
  • #14,322
  • Jan 26, 2010 10:34am Jan 26, 2010 10:34am
Quoting elizo
Tough day on this NY session... so many fakes and WRs on the downside only tell me one thing: my long on the first FCR available.
test long too... buy above 4075
  • #14,323
  • Jan 26, 2010 10:42am Jan 26, 2010 10:42am
Quoting dim4ik42
test long too... buy above 4075
Ain't it beautiful?
  • #14,324
  • Jan 26, 2010 12:02pm Jan 26, 2010 12:02pm
Quoting elizo
Ain't it beautiful?
Still hold, my brother, still hold... The first trade durin gthis day which lasts more than 15 minutes....
  • #14,325
  • Jan 26, 2010 12:07pm Jan 26, 2010 12:07pm
I do not see our "trading machine" Bakuli.....

...just start miss you, brother....
  • #14,326
  • Jan 26, 2010 12:24pm Jan 26, 2010 12:24pm
Quoting dim4ik42
Still hold, my brother, still hold... The first trade durin gthis day which lasts more than 15 minutes....
Out at 94. Not bad. Finishing the day on green numbers.
  • #14,327
  • Jan 26, 2010 12:30pm Jan 26, 2010 12:30pm
Hi gang,
Just got back from meeting my friends for a long lunch and catch up. Going to catch up with the posts and have a look at chart to see what's been happening. Any runners?
  • #14,328
  • Jan 26, 2010 12:52pm Jan 26, 2010 12:52pm
Todays trades

Messed up with the long fcr I took, it was a quick decision, but I held on too long when it turned, caught in the headlights.

And I missed the Elizio fcr, head was just facing in the wrong direction, expecting more shorts etc etc. Got to get your mind right, Luke...
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  • #14,329
  • Jan 26, 2010 12:53pm Jan 26, 2010 12:53pm
My home-work today is - to learn to indentify early when FCRs start to go close to each other to determine chopp monster and flat market properly...

... i think it will help me in futere to avoid trading in range...
  • #14,330
  • Jan 26, 2010 1:43pm Jan 26, 2010 1:43pm
Quoting Royston
Todays trades

Messed up with the long fcr I took, it was a quick decision, but I held on too long when it turned, caught in the headlights.

And I missed the Elizio fcr, head was just facing in the wrong direction, expecting more shorts etc etc. Got to get your mind right, Luke...
See picture attached... self explanatory... I took the tiny former one based on WR, so jumping on the first one available.
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  • #14,331
  • Jan 26, 2010 1:55pm Jan 26, 2010 1:55pm
Quoting elizo
See picture attached... self explanatory... I took the tiny former one based on WR, so jumping on the first one available.
lol....

I took that long shot a bit later... above 4074... was not so brave as always...

  • #14,332
  • Jan 26, 2010 2:16pm Jan 26, 2010 2:16pm
Here's a current trade that I am on. I based it on a fcr but I am not too sure if anyone else would agree that it is one. Would appreciate your feedback on whether it has a defined loop to it or am I hallucinating again. I do take these quite often but don't want to keep calling them fcr's if it isn't one.
Would love to hear your views on it.

Cheers,
B
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  • #14,333
  • Jan 26, 2010 3:05pm Jan 26, 2010 3:05pm
Quoting elizo
See picture attached... self explanatory... I took the tiny former one based on WR, so jumping on the first one available.
quiet time of reviewing my trades.. took a fresh chart, removed all lines..is this a valid fcr2 in your eyes? to me it was at the time, then i thought i hallucinated, now i'm pretty sure that it was valid

any input is highly appreciated..ty all
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  • #14,334
  • Jan 26, 2010 3:16pm Jan 26, 2010 3:16pm
Quoting bubola
quiet time of reviewing my trades.. took a fresh chart, removed all lines..is this a valid fcr2 in your eyes? to me it was at the time, then i thought i hallucinated, now i'm pretty sure that it was valid

any input is highly appreciated..ty all
It is an fcr in my book.
Any comments on my post above yours ? Also abouf fcr.
  • #14,335
  • Jan 26, 2010 3:19pm Jan 26, 2010 3:19pm
Quoting Bakuli
It is an fcr in my book.
Any comments on my post above yours ? Also abouf fcr.
it is to me, bakuli, with WB and WR ...good luck, i'm off to bed
  • #14,336
  • Jan 26, 2010 3:27pm Jan 26, 2010 3:27pm
Quoting elizo
... I took the tiny former one based on WR, so jumping on the first one available.
Thank you for the chart, Elizio, very clear indeed.
  • #14,337
  • Jan 26, 2010 3:30pm Jan 26, 2010 3:30pm
Quoting bubola
it is to me, bakuli, with WB and WR ...good luck, i'm off to bed
Thanks and goodnight.
  • #14,338
  • Jan 26, 2010 3:38pm Jan 26, 2010 3:38pm
SL moved above new fcr.
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  • #14,339
  • Jan 26, 2010 4:07pm Jan 26, 2010 4:07pm
Quoting bubola
quiet time of reviewing my trades.. took a fresh chart, removed all lines..is this a valid fcr2 in your eyes? to me it was at the time, then i thought i hallucinated, now i'm pretty sure that it was valid

any input is highly appreciated..ty all
That was a very tough one. Actually, live, I was short and considered it as a valid FCR... then market spiked up and without that consideration I would have kept my short, but based on it I dropped it and took the long... for a nice fakeout.

It's a very difficult stuff and I would love FX giving his opinion here. Question is easy: if you take a valid signal, give breath to PA and while playing sissy on the level line it defines a new FCR... what happens with your current entry? Do you play the same (level line + 10 pips) or do you set your SL strictly behind the new FCR defined?

Thanks
  • #14,340
  • Jan 26, 2010 4:12pm Jan 26, 2010 4:12pm
Quoting Bakuli
Here's a current trade that I am on. I based it on a fcr but I am not too sure if anyone else would agree that it is one. Would appreciate your feedback on whether it has a defined loop to it or am I hallucinating again. I do take these quite often but don't want to keep calling them fcr's if it isn't one.
Would love to hear your views on it.

Cheers,
B
To me, it's an early and valid one. Therefore, riskier than awaiting for a more defined one but at the same time you are the first on the queue.

But... I notice you are trading too much... think about liquidity time and so on. Market moves because they have players inside. If you take all valid signals regardless it is 23.20 CET and neither Frankfurt, London, Ny nor Tokyo are opened... well, in my opinion it's a waste of resources in terms of eficiency. Rest and save your strenghts for the most liquid time gaps (7.45 CET till 22.00 CET, with all the pauses in the middle).

Just my view. Hope it helps.
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