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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)

  • #14,801
  • Jan 29, 2010 5:19am Jan 29, 2010 5:19am
Quoting scubro
Guilty! Took it at 1.3956 and closed out at 1.3971
hey scubro
you played that bb correctly,
  • #14,802
  • Jan 29, 2010 5:19am Jan 29, 2010 5:19am
Quoting bubola
yours truly, the i never make the right decision, it seems
Oh dear Bubola. Don't let Mr Market do that to you. I am still in. What I normally do is move the SL to just above the LV line once I have a gain of 15+ pips. That way I immediately reduced my initial risk of 15 pips. So usually I will be risking something like 8 pips from the trigger line. I am then quite willing to sacrifice that to the market to allow the PA to play out. This market behaviour is quite common. We get a SF and then very often it goes back to test the breakout level. I have seen it happen many times , therefore was willing to risk the 8 pips to see if the level would hold.
  • #14,803
  • Jan 29, 2010 5:24am Jan 29, 2010 5:24am
Quoting Bakuli
Oh dear Bubola....
each day i have a new paranoia: today it's the "don't get married to trades" one. i blew it, i know...had the best entry i know how i should play it, got my notes in front of me, and yet... s&&%%t, f%%%$$$
  • #14,804
  • Jan 29, 2010 5:29am Jan 29, 2010 5:29am
I was just thinking what if you take off half position at 1:1 and leave the other half to hunt for runners?
Say you use a hard stop of 15 pips. So once we have a break and we are 15+ pips ahead, close half position and let the other half run, with the SL still in it's original position So what you have here is now a risk free trade to look for runners. Any thoughts on it ? I believe they use this kind of risk management over at the DIBs thread.
Anyways, I don't use it but it's just something for discussion.

Perhaps FXa can advise us on this or any of the seniors ?
  • #14,805
  • Edited 5:51am Jan 29, 2010 5:39am | Edited 5:51am
Quoting Bakuli
I was just thinking what if you take off half position at 1:1 and leave the other half to hunt for runners?
Say you use a hard stop of 15 pips....
i just have to learn properly what it's been layed out for us, that's all.
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  • #14,806
  • Jan 29, 2010 5:40am Jan 29, 2010 5:40am
Quoting FOURX
hey scubro
you played that bb correctly,
Thnaks Fourx. I get the impression with bb's that they're a tricky animal but worth playing for the odds as they can produce a strong move.
  • #14,807
  • Jan 29, 2010 5:42am Jan 29, 2010 5:42am
Still in, missed my SL at 1.3974 by 1 pip. Considered that after the first pullback to change to 123S applying #2. Now in a range, may still get taken out at the SL.
  • #14,808
  • Jan 29, 2010 5:43am Jan 29, 2010 5:43am
Dim.. join me in messanger please.. thanks.
  • #14,809
  • Jan 29, 2010 5:43am Jan 29, 2010 5:43am
Quoting Bakuli
Mr Market was trying to deceive us there to bail out our short. Did anyone bail out ?

Naaaahhh. I and my buddy Jplo played an old-fashioned #2 play.

Entered short at 56 weathered the sudden spike with a wide Sl - just felt right to us in this instance, wouldn't always leave it that wide ..... Jplo took a -2 and I waited longer and took -7 inside the level line.

We both kept our Jelly Babies for that one after a rigorous post-mortem. CHillometer reading 3...
Time for coffee.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #14,810
  • Jan 29, 2010 5:52am Jan 29, 2010 5:52am
Quoting mac1956
Naaaahhh. I and my buddy Jplo played an old-fashioned #2 play.

Entered short at 56 weathered the sudden spike with a wide Sl - just felt right to us in this instance, wouldn't always leave it that wide ..... Jplo took a -2 and I waited longer and took -7 inside the level line.

We both kept our Jelly Babies for that one after a rigorous post-mortem. CHillometer reading 3...
Time for coffee.
I love Jelly babies....
Bubola and me entered at 72 off the very small bracket right at the top. I am still in the short trade because so far the LV for our trade is still holding out.
  • #14,811
  • Jan 29, 2010 5:53am Jan 29, 2010 5:53am
Hit the SL on the long and reversed with half a load as I don't feel too confident on the bullish side. SL is at 1.3962

Sorry "long" should read "short"

Out at -13
  • #14,812
  • Jan 29, 2010 5:59am Jan 29, 2010 5:59am
Quoting Bakuli
I love Jelly babies....
Bubola and me entered at 72 off the very small bracket right at the top. I am still in the short trade because so far the LV for our trade is still holding out.

That's TOP!!!! No #1 exit?
$urvive, Pre$erve & RESPECT THE TEACHER
  • #14,813
  • Jan 29, 2010 6:05am Jan 29, 2010 6:05am
Quoting Bakuli
I love Jelly babies....
Bubola and me entered at 72 off the very small bracket right at the top. I am still in the short trade because so far the LV for our trade is still holding out.
wow what an entry
  • #14,814
  • Jan 29, 2010 6:06am Jan 29, 2010 6:06am
Quoting mac1956
That's TOP!!!! No #1 exit?
don't say anything, mac, please i'm so proud of my entries, and so ashamed of my exits
  • #14,815
  • Jan 29, 2010 6:12am Jan 29, 2010 6:12am
Quoting bubola
don't say anything, mac, please i'm so proud of my entries, and so ashamed of my exits

Ahhh Bubola - you are blazing a trail...a glorious path for others - exits are all ART and little science. We will be debating them forever. It seems to me that a simple #1 would have won you a nice profit - interesting entry too...I missed that one in the thread !!!
$urvive, Pre$erve & RESPECT THE TEACHER
  • #14,816
  • Jan 29, 2010 6:23am Jan 29, 2010 6:23am
Quoting mac1956
Ahhh Bubola - you are blazing a trail...a glorious path for others - exits are all ART and little science. We will be debating them forever. It seems to me that a simple #1 would have won you a nice profit - interesting entry too...I missed that one in the thread !!!
yeah, well, not sure if it's by the book, but i try to spot it at the end of a move, with a WB/WR that naturally forms a tiny range, and the break of a previous level. i used it once before, fxa didn't reproach me for it, so i gave it a try today too
  • #14,817
  • Jan 29, 2010 6:26am Jan 29, 2010 6:26am
Quoting bubola
yeah, well, not sure if it's by the book, but i try to spot it at the end of a move, with a WB/WR that naturally forms a tiny range, and the break of a previous level. i used it once before, fxa didn't reproach me for it, so i gave it a try today too
That V shape shown clearly when using line chart.
Very early entry, good idea Bubola
  • #14,818
  • Jan 29, 2010 6:29am Jan 29, 2010 6:29am
Quoting bubola
yeah, well, not sure if it's by the book, but i try to spot it at the end of a move, with a WB/WR that naturally forms a tiny range, and the break of a previous level. i used it once before, fxa didn't reproach me for it, so i gave it a try today too

Could be another powerful tool...if it gets you in earlier and pays back on the averages then it has to be worth a look. Always looking to learn my friend so thank you.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #14,819
  • Jan 29, 2010 7:05am Jan 29, 2010 7:05am
Quoting Musanto
That V shape shown clearly when using line chart.
Very early entry, good idea Bubola
So I am not mad after all when I mentioned to Bubola that I could see a V shape in the 3 candle setup, .
  • #14,820
  • Jan 29, 2010 7:17am Jan 29, 2010 7:17am
Quoting Bakuli
So I am not mad after all when I mentioned to Bubola that I could see a V shape in the 3 candle setup, .
bakuli,
I thank you for you reply about asian session trade.
but i still have question to ask,
See the chart where you point your entry.
How can I possible to hold those (1) (2) for stop loss 15 pips ?
Not possible is it ?
That's why I assume there was a BB trade there,
and my trade is right at the Bracket brake .

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