The System II (Yes with irony) | Page 730 | Forex Factory

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The System II (Yes with irony)

  • #14,581
  • Jan 28, 2010 2:33am Jan 28, 2010 2:33am
Quoting mac1956
[color=black][font=Verdana]Interesting comment you make there Bakkers - people think that harsh punishment modifies behaviour, but all the research shows this isn't the case...in fact it is the least effective method – it merely spawns anxiety, represses impulses (good ones and bad ones) and causes spurts of delinquent behaviours…i.e. the very behaviour you want to decrease (we call them ‘Extinction bursts’ - a great example of which is 'revenge trading'). I have thought about this a great deal and incorporated it into my trading – so I hope...
Thank you so much Mac for your very interesting post on behaviour modification. I will re-read it again later when I am finished "battling" for the day. You made some interesting points and suggestions there and I will most certainly apply them to bring about positive behavioural change.

Many thanks again.
B
  • #14,582
  • Jan 28, 2010 2:34am Jan 28, 2010 2:34am
Quoting mac1956
[color=black][font=Verdana]Interesting comment you make there Bakkers - people think that harsh punishment modifies behaviour, but all the research shows this isn't the case...in fact it is the least effective method – it merely spawns anxiety, represses impulses (good ones and bad ones) and causes spurts of delinquent behaviours…i.e. the very behaviour you want to decrease (we call them ‘Extinction bursts’ - a great example of which is 'revenge trading'). I have thought about this a great deal and incorporated it into my trading – so I hope...
ty, mac, i was looking forward to such posts in real time. i'm reading this while i'm in this long. funny thing, it's turning against me, my sl is below level line so it's possible it will be a loser, but i'm very calm about it, don't feel any anxiety at all... one question: do you know if jelly babies are sold in italy??
  • #14,583
  • Jan 28, 2010 2:36am Jan 28, 2010 2:36am
Quoting bubola
ty, mac, i was looking forward to such posts in real time. i'm reading this while i'm in this long. funny thing, it's turning against me, my sl is below level line so it's possible it will be a loser, but i'm very calm about it, don't feel any anxiety at all... one question: do you know if jelly babies are sold in italy??
ITALY....I would have spoonfuls of Tiramisu in Italy!!!!! Yummy....
$urvive, Pre$erve & RESPECT THE TEACHER
  • #14,584
  • Jan 28, 2010 2:38am Jan 28, 2010 2:38am
Quoting mac1956
ITALY....I would have spoonfuls of Tiramisu in Italy!!!!! Yummy....

or Grappa !!! Love that drink!
  • #14,585
  • Jan 28, 2010 2:39am Jan 28, 2010 2:39am
Im out at BE.
  • #14,586
  • Jan 28, 2010 2:39am Jan 28, 2010 2:39am
Quoting Bakuli
or Grappa !!! Love that drink!
at 9:30am???
  • #14,587
  • Jan 28, 2010 2:39am Jan 28, 2010 2:39am
Mac - Thank you - I was looking for a way to do a better job of managing my mind when I am trading. The "I am so stupid" or "not again" mental thoughts do nothing positive for my trading and are actually detrimental. Lately I have been turning off the computer and leaving for a while and coming back - this is ok and I know its not the best solution - because I am engaging in the same mental traps. Now I have to find a reward that I am willing to crawl over broken glass to get -
I make money anywhere in the world by taking orders
  • #14,588
  • Jan 28, 2010 2:41am Jan 28, 2010 2:41am
Quoting Bakuli
or Grappa !!! Love that drink!

Might end up seeing two charts!!!!
$urvive, Pre$erve & RESPECT THE TEACHER
  • #14,589
  • Jan 28, 2010 2:43am Jan 28, 2010 2:43am
Quoting bubola
ty, mac, i was looking forward to such posts in real time. i'm reading this while i'm in this long. funny thing, it's turning against me, my sl is below level line so it's possible it will be a loser, but i'm very calm about it, don't feel any anxiety at all... one question: do you know if jelly babies are sold in italy??
Still holding too, lets see if the level line can't turn this sucker north, looks like a nice bull bar forming now
  • #14,590
  • Jan 28, 2010 2:43am Jan 28, 2010 2:43am
Quoting bubola
at 9:30am???
Lol! Of course not but maybe a liitle drop if it's afternoon session.
  • #14,591
  • Jan 28, 2010 2:45am Jan 28, 2010 2:45am
Quoting DesertFX
Im out at BE.
Ok... Well I am still holding this one... Scenario 1, first hurdel...
I watch reaction to the level-line... My SL is 4 pips below the level.

for me level is - 4021
  • #14,592
  • Jan 28, 2010 2:50am Jan 28, 2010 2:50am
Quoting DesertFX
Im out at BE.

No crying .... brush off the dust .... watch PA and assess.

Wash and Rinse.
  • #14,593
  • Jan 28, 2010 2:52am Jan 28, 2010 2:52am
Quoting dim4ik42
Ok... Well I am still holding this one... Scenario 1, first hurdel...
I watch reaction to the level-line... My SL is 4 pips below the level.

for me level is - 4021
Cheers bro
  • #14,594
  • Jan 28, 2010 2:54am Jan 28, 2010 2:54am
Watching potential new FCR in creation 1.4021.
  • #14,595
  • Jan 28, 2010 2:56am Jan 28, 2010 2:56am
Quoting DesertFX
Watching potential new FCR in creation 1.4021.
Would this trade be trading back into the bracket considered of higher risk though?
  • #14,596
  • Jan 28, 2010 2:57am Jan 28, 2010 2:57am
Quoting DesertFX
Watching potential new FCR in creation 1.4021.

I have a short order in the system below 1.4021.

However it seems price may retrace .... I wonder if it was wise of me to close at BE.

Mind thinking now.
  • #14,597
  • Jan 28, 2010 2:59am Jan 28, 2010 2:59am
Quoting skris
Would this trade be trading back into the bracket considered of higher risk though?
Bro I dont think so personally ... as price made a new high ... and has also formed a new FCR with a higher low. So the BB has broken to the upside.

You now have 123 and FCR.
  • #14,598
  • Jan 28, 2010 2:59am Jan 28, 2010 2:59am
I am just waiting for a fcr to form to get into a reverse trade if I see a WR.
Guys/Gals, I have a confession to make. I banked at 4037, at 50% of the swing when price was retracing back after reaching a high of 4052. My reasoning was that it's the start of London and often you can see quick reversals during the opening hour. I wasn't trying to be predictive but was just basing it on my observations and had incorporated that into my trading plan if I do take on a trade around that time. I thought 50% of the swing was adequate to allow price to breathe and if it took me out, then perhaps the momentum wasn't quite there.

I didn't want post my action earlier so as not to influence the different plays going on. I think it will be nice to discuss this further once the dust has settled from the current battle.
  • #14,599
  • Jan 28, 2010 2:59am Jan 28, 2010 2:59am
Quoting dim4ik42
Ok... Well I am still holding this one... Scenario 1, first hurdel...
I watch reaction to the level-line... My SL is 4 pips below the level.

for me level is - 4021

Ok! Still hold this long.... Sc1 is in play.... Text-book example.
  • #14,600
  • Jan 28, 2010 3:04am Jan 28, 2010 3:04am
Quoting SedonaPipper
Mac - Thank you - I was looking for a way to do a better job of managing my mind when I am trading. The "I am so stupid" or "not again" mental thoughts do nothing positive for my trading and are actually detrimental. Lately I have been turning off the computer and leaving for a while and coming back - this is ok and I know its not the best solution - because I am engaging in the same mental traps. Now I have to find a reward that I am willing to crawl over broken glass to get -
Wow - thanks for the feedback Sed old chap - but I am concerned about
the broken glass bit - sounds a bit like punishment to me. The beauty of FX's approach is that it is simple - really, really simple - genius...and it is our minds that complicate it and turn it into a struggle. Fx always comes to the party with a laugh "BAAAAAAAAAAAAAAAMMMMMMM" - his temperament is unshakably positive - not through pretence, but because he knows the runners come, and he keeps it simple. Forrest Gump - no sophisticated thinking - no struggle - just wash-rinse-repeat. Jelly Babies are my way of returning to the simplicity - they are really very simple, as indeed am I really. I like to pretend I am complex and so I complicate things to be a smartarse.

This can be a game or a war depending on how we approach it - war seems like a struggle. Anyways - I am only learning like you...but we help each other, and in that spirit I hope this is small repayment for your many contributions.
$urvive, Pre$erve & RESPECT THE TEACHER
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