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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)

  • #14,481
  • Jan 27, 2010 8:50am Jan 27, 2010 8:50am
I still got it ... am trying FX's SC1 ... lets see if this correction is merely a correction .

Moved my stop to 1.4064.
  • #14,482
  • Jan 27, 2010 8:51am Jan 27, 2010 8:51am
Quoting bubola
closed, gave back 2/3, +10
Still positive pips and you were in it for that elusive runner which will eventually come.
  • #14,483
  • Jan 27, 2010 8:56am Jan 27, 2010 8:56am
I was in short at 4066 and closed at 4160 for +6

- post 11758 was relevant here
  • #14,484
  • Jan 27, 2010 8:56am Jan 27, 2010 8:56am
US new home sales in 3 mins.
  • #14,485
  • Jan 27, 2010 8:58am Jan 27, 2010 8:58am
Quoting bubola
closed, gave back 2/3, +10
you banked a little less than half way.. but its all good...
if i were u i would pop a cold one and celebrate... bcz if you keep this up you will cash in on more runners than anyone in this planet.. i am a living proof.

nice job miss B.. I am proud of you.

nice job to Bakuli as well.
  • #14,486
  • Jan 27, 2010 8:59am Jan 27, 2010 8:59am
What an initial move and correction ..... I wonder if someone had a big sell order for the move down.

2 Major hurdles for the down move 1.4030 and 1.4020. Lets see if we manage to touch them.

I will hold onto the short till my stop gets taken out (1.4064) for me no point cutting now. This correction did not give me much of an FCR to at least get out of.

What a day )).
  • #14,487
  • Jan 27, 2010 9:05am Jan 27, 2010 9:05am
Quoting DesertFX
I still got it ... am trying FX's SC1 ... lets see if this correction is merely a correction .

Moved my stop to 1.4064.
you can do that aswell.. but making sure that you can handel giving back 45pips gain for nothing.. got be strong enough to be able to live with that decison.
to be frank i have a little hard time with that.. it will mess around with my head during the day.. i can let go of 25 pips gain inside the 1st hurdel, when price has not really made its reall move.. but when there is shoot down for 40-50 i got to get someting out of that.. that is the purpose of sc2 in my game plan..

i hope its honest and clear to you everyone..
  • #14,488
  • Jan 27, 2010 9:06am Jan 27, 2010 9:06am
Brother Fxa,

but at the same time lets face it guys.. there are times that market just act in such a up and down movments.. and plus we had the N.Y open on the edge.. so 50% bank was a must there..

I understand the logic behind this...but the time you used it was when you were up 70+ not 30pips(+/-)... do you think is better to save 1/3 or 10 pips than you place your stop loss at be or just a few pips above that and give up 1o pips for the options of a turn around in pa ?

imo...shouldn't your 1/3 saved be equal to 30 pips? Not sure.. please give me your feedback.

Thanks
Unus pro omnibus, omnes pro uno
  • #14,489
  • Jan 27, 2010 9:07am Jan 27, 2010 9:07am
Quoting fxachilies
you banked a little less than half way.. but its all good...
if i were u i would pop a cold one and celebrate... bcz if you keep this up you will cash in on more runners than anyone in this planet.. i am a living proof.

nice job miss B.. I am proud of you.

nice job to Bakuli as well.
ty for your kind words..hope to do better next time
  • #14,490
  • Jan 27, 2010 9:10am Jan 27, 2010 9:10am
Quoting fxachilies
you can do that aswell.. but making sure that you can handel giving back 45pips gain for nothing.. got be strong enough to be able to live with that decison.
to be frank i have a little hard time with that.. it will mess around with my head during the day.. i can let go of 25 pips gain inside the 1st hurdel, when price has not really made its reall move.. but when there is shoot down for 40-50 i got to get someting out of that.. that is the purpose of sc2 in my game plan..

i hope its honest and clear to you everyone..
Nice and clear, like a beacon of light in the dark ! We like you to keep talking please, brother Fxa. We need your wisdom very much!
  • #14,491
  • Jan 27, 2010 9:12am Jan 27, 2010 9:12am
Quoting fxachilies
you can do that aswell.. but making sure that you can handel giving back 45pips gain for nothing.. got be strong enough to be able to live with that decison.
to be frank i have a little hard time with that.. it will mess around with my head during the day.. i can let go of 25 pips gain inside the 1st hurdel, when price has not really made its reall move.. but when there is shoot down for 40-50 i got to get someting out of that.. that is the purpose of sc2 in my game plan..

i hope its honest and clear to you everyone..
Thanks bro ... appreciate the open feedback.
  • #14,492
  • Jan 27, 2010 9:16am Jan 27, 2010 9:16am
FX!

I believe this falls into #1 play sc.2.

I dont use hard stop for protecting my gains. I am looking for the "spring" thing you talked about several days ago. The 50% mark is just my alert zone.

This is my doubt though.

Should we protect 50% of our gains, or use 50 % from the beggining of the swing, in this case from top to bottom 1.4087 to 1.4031. In this case I was using the swing. Market does not care where I entered the trade right?

Not looking for clear cut rules here. Just a clear up.

Thanks!
You wont survive without preserving!!!
  • #14,493
  • Jan 27, 2010 9:19am Jan 27, 2010 9:19am
FYI ... The Geithner hearing is on right now
  • #14,494
  • Jan 27, 2010 9:23am Jan 27, 2010 9:23am
Price action very erratic ... big day today ... Geithner comments, then FOMC, then Obama.

I will hold this position till I get stopped out ... lets see and if I get stopped out then I will have to go and maybe play football to release my stress. If it breaks below the initial hurdles will then place a stop into the FOMC and see what happens.

IF and THEN.
  • #14,495
  • Jan 27, 2010 9:41am Jan 27, 2010 9:41am
First hurdle test ............... 1.4030
  • #14,496
  • Jan 27, 2010 9:42am Jan 27, 2010 9:42am
Quoting moneda
Brother Fxa,

but at the same time lets face it guys.. there are times that market just act in such a up and down movments.. and plus we had the N.Y open on the edge.. so 50% bank was a must there..

I understand the logic behind this...but the time you used it was when you were up 70+ not 30pips(+/-)... do you think is better to save 1/3 or 10 pips than you place your stop loss at be or just a few pips above that and give up 1o pips for the options of a turn around in pa ?

imo...shouldn't your 1/3 saved be equal to 30 pips?...

ok.. this was a 42 pips straight droper and half is 20pips, not a bad profit.. and its about choices.. we got two scenarios that can help us with that.. PA is so vast with giving so many different looks and form that if i have to go through scenario's it will be 1000 scenarios..
so let me tell what was wise for me to do here..
considering this straight away big time 40 droper on the edge of N.Y open.. and still inside todays range not a breakout of the days range.. its only commons sense to act, when I see a big time speed coming at me (the first solid bull candel) then follow with two more and then again a bullish one at the open.. then I am better off to get out of this with half if not able to bank half and i am late to act then i can just wait and see if i can get a crack at the test of LL and risk losing 10pips even..

so i can not really put a square box around this.. now belive me when i tell u that this type of sharp movment normally happens during news or around opening of new sessions.. and its supper beneficial on the flip side too.. 50/50 chance to run the other way..
the whole runner mentality thing always beats everything else bcz the RR is so much in our favor if we don't let our hit ratio to drop below 20% (over trading)..

so its a give and take.. its tough.. and i do my best to always give the most genuine answer as possible and it does lead me to some contrdictory stuff.. but hey thats market.. thats why its called beast.. thats why feb say (system with irony)..

thanks for the question Mon.
  • #14,497
  • Jan 27, 2010 9:47am Jan 27, 2010 9:47am
Still short
$urvive, Pre$erve & RESPECT THE TEACHER
  • #14,498
  • Jan 27, 2010 9:48am Jan 27, 2010 9:48am
anyone have orders around 1.4029?
  • #14,499
  • Jan 27, 2010 9:48am Jan 27, 2010 9:48am
Quoting DesertFX
First hurdle test ............... 1.4030
First hurdle complete ... now the bigger hurdle 1.4020 area ...... watch this.
  • #14,500
  • Jan 27, 2010 9:54am Jan 27, 2010 9:54am
Quoting DesertFX
First hurdle complete ... now the bigger hurdle 1.4020 area ...... watch this.
Big failure at 2nd Hurdle ....
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