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The System III (Oh no!)

  • #121
  • Mar 8, 2010 4:12am Mar 8, 2010 4:12am
Quoting kiwi_trader
Its a valid entry.

And it will be a valid entry whether it wins or loses. What are your stops and targets and why?
My hard stop loss is 100 pips, above the past reference point, but I would observe it and if that trade would go against me then I would close it manually by nimizing the risk at some point. Any comments and advise please?
  • #122
  • Mar 8, 2010 4:26am Mar 8, 2010 4:26am
Feb, you started what seems to be a very interesting thread. However any tips ? as some guidance would be appreciated.
  • #123
  • Mar 8, 2010 4:43am Mar 8, 2010 4:43am
Quoting fxenigma
Feb, you started what seems to be a very interesting thread. However any tips ? as some guidance would be appreciated.
What I understood, is you draw the levels based on past, they would be the turning points, so you place order when market approaches that turning point.
It is possible that market does not turn and breaks that level then in that case observe the level and wait for pull back.
keep your stop loss at far and reasonable distance. I think position sizing and money management is very important here. Any way Feb will explain it better. He had posted some charts in beginning.
  • #124
  • Mar 8, 2010 5:39am Mar 8, 2010 5:39am
Quoting fxenigma
Feb, you started what seems to be a very interesting thread. However any tips ? as some guidance would be appreciated.
what else do you need my man???
Peace
  • #125
  • Mar 8, 2010 5:41am Mar 8, 2010 5:41am
I got a PM that I will reply in public for the benefit of everyone.

This is not a ping pong trading stuff.....You might have a ping pong play, yes but not all the time....

Thanks.
Peace
  • #126
  • Mar 8, 2010 5:50am Mar 8, 2010 5:50am
Quoting feb2865
what else do you need my man???
Thanks Feb ... My friend ... I like system II because I like to be attached with the market.

This style is much slower and one needs to be very patient.

However my main bread and butter is system II, maybe I play this too when an opportunity arises.

What you think?

Also how long have you been trading this? is it profitable in the long run?
  • #127
  • Mar 8, 2010 5:59am Mar 8, 2010 5:59am
Guys..

Listen, I don't mind giving you some guidance but you must go over the material I lay out on this thread already. My suggestion is to take it easy and slow when studying. Don't need to rush it up. Get a good understanding on what this is all about and the just begin to load up charts. Explain your reasoning behind the trade and then we back you up. Don't be afraid, we're not here to judge you or anything like that.

here's a chart for this morning - I didn't take this trade but there's another rejection on 3690 area....
Attached Image (click to enlarge)
Click to Enlarge Name: 3-8-2010.gif Size: 24 KB
Peace
  • #128
  • Mar 8, 2010 6:05am Mar 8, 2010 6:05am
Quoting fxenigma
Thanks Feb ... My friend ... I like system II because I like to be attached with the market.

This style is much slower and one needs to be very patient.

However my main bread and butter is system II, maybe I play this too when an opportunity arises.

What you think?

Also how long have you been trading this? is it profitable in the long run?
It's all up to you and how you feel with it.

If you like something quicker then this might not be for you. But if you feel somehow attracted to this one, try both...it's all a matter of comfort.

Sorry but the last two questions, just in case you don't know me very well, I don't put any weight on that.
Peace
  • #129
  • Mar 8, 2010 6:19am Mar 8, 2010 6:19am
Quoting feb2865
Guys..

Listen, I don't mind giving you some guidance but you must go over the material I lay out on this thread already. My suggestion is to take it easy and slow when studying. Don't need to rush it up. Get a good understanding on what this is all about and the just begin to load up charts. Explain your reasoning behind the trade and then we back you up. Don't be afraid, we're not here to judge you or anything like that.

here's a chart for this morning - I didn't take this trade but there's another rejection on 3690 area....
hai feb... i take the trade at 1.3685 ...but got hit at 1.3705...normally the stoploss you will put how many pips and if reenter where you will enter again?
Attached Image (click to enlarge)
Click to Enlarge Name: exp.gif Size: 24 KB
  • #130
  • Mar 8, 2010 6:31am Mar 8, 2010 6:31am
Quoting feb2865
It's all up to you and how you feel with it.

If you like something quicker then this might not be for you. But if you feel somehow attracted to this one, try both...it's all a matter of comfort.

Sorry but the last two questions, just in case you don't know me very well, I don't put any weight on that.

Thanks Feb.
  • #131
  • Mar 8, 2010 7:26am Mar 8, 2010 7:26am
Quoting 4xfusion
hai feb... i take the trade at 1.3685 ...but got hit at 1.3705...normally the stoploss you will put how many pips and if reenter where you will enter again?

what would you do??

will you re-enter??
Peace
  • #132
  • Mar 8, 2010 7:36am Mar 8, 2010 7:36am
Quoting feb2865
what would you do??

will you re-enter??
unless the price shoot up very fast......i will consider go long when it retrace to 1.3690. if not i will try to reenter at the same place again... because the risk reward can let me enter again....it is correct?
  • #133
  • Mar 8, 2010 8:13am Mar 8, 2010 8:13am
Quoting 4xfusion
unless the price shoot up very fast......i will consider go long when it retrace to 1.3690. if not i will try to reenter at the same place again... because the risk reward can let me enter again....it is correct?

now we're getting somewhere!!!
Peace
  • #134
  • Mar 8, 2010 8:21am Mar 8, 2010 8:21am
is there any particular reason, you did not take that trade? i took that short as price has turned on this level before.
Did I miss some thing which need to be considered to take this trade?
Anyway now that move does not look good, should I close it?

Quoting feb2865
Guys..

Listen, I don't mind giving you some guidance but you must go over the material I lay out on this thread already. My suggestion is to take it easy and slow when studying. Don't need to rush it up. Get a good understanding on what this is all about and the just begin to load up charts. Explain your reasoning behind the trade and then we back you up. Don't be afraid, we're not here to judge you or anything like that.

here's a chart for this morning - I didn't take this trade but there's another rejection on 3690 area....
  • #135
  • Mar 8, 2010 8:31am Mar 8, 2010 8:31am
hai feb..right now the price is heading to 1.3690. would you consider entering again or wait for the price action to show fakeout? and you will enter later on?
  • #136
  • Mar 8, 2010 9:32am Mar 8, 2010 9:32am
Quoting mithu
is there any particular reason, you did not take that trade? i took that short as price has turned on this level before.
Did I miss some thing which need to be considered to take this trade?
Anyway now that move does not look good, should I close it?
I didn't take the trade I was sleeping .
Peace
  • #137
  • Mar 8, 2010 9:33am Mar 8, 2010 9:33am
Quoting 4xfusion
hai feb..right now the price is heading to 1.3690. would you consider entering again or wait for the price action to show fakeout? and you will enter later on?

what would you do??
Peace
  • #138
  • Mar 8, 2010 9:41am Mar 8, 2010 9:41am
Quoting feb2865
I didn't take the trade I was sleeping .
Ohh that is another filter .... i did not know that .... lol
  • #139
  • Mar 8, 2010 10:00am Mar 8, 2010 10:00am
Another 3690 down play...
Attached Image (click to enlarge)
Click to Enlarge Name: 3-8-2010a.gif Size: 15 KB
Peace
  • #140
  • Mar 8, 2010 8:32pm Mar 8, 2010 8:32pm
hi Feb,
looking at EURUSD weekly and compare it with GBPUSD , is it not better to trade the pair with more movement like GBPUSD?
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