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The System III (Oh no!)

  • #381
  • Mar 23, 2010 6:53pm Mar 23, 2010 6:53pm
I close my trade @3466. loss -84 ticks.

No problem - my stop was @3452 but as I see the market the bears definitely owns this market for now.

Trade was closed @ 7:48PM EST...

wash, rinse and repeat...
Peace
  • #382
  • Mar 23, 2010 7:04pm Mar 23, 2010 7:04pm
Quoting feb2865
I close my trade @3466. loss -84 ticks.

No problem - my stop was @3452 but as I see the market the bears definitely owns this market for now.

Trade was closed @ 7:48PM EST...

wash, rinse and repeat...
So when should I enter short? After 1.3435 March 2 low breakdown and pullback?
  • #383
  • Mar 23, 2010 7:36pm Mar 23, 2010 7:36pm
Quoting tghfbt8
So when should I enter short? After 1.3435 March 2 low breakdown and pullback?
First - should you go short or long??
Peace
  • #384
  • Mar 23, 2010 7:57pm Mar 23, 2010 7:57pm
Quoting feb2865
First - should you go short or long??
Exactly!

I made 51 pips on Eur/Jpy last night.

I feel bearish on Euro until some sort of clearance over Greece.

Thanks & Regards,
  • #385
  • Mar 23, 2010 7:58pm Mar 23, 2010 7:58pm
Quoting tghfbt8
So when should I enter short? After 1.3435 March 2 low breakdown and pullback?
pullback would be better. breakdown can prove to be false as well. Plus I use pullback so might be biased towards it.
  • #386
  • Mar 23, 2010 9:47pm Mar 23, 2010 9:47pm
Quoting feb2865
First - should you go short or long??
The level 1.3450 was tested on Feb 19, Feb 25, March 2, and yesterday March 22.

Thus if this level will be broken time to go short. Otherwise long. The euro ATR is around 100 pips thus break of two ATR (200 pips) should be sufficient
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd h4 3_23_2010.PNG Size: 48 KB
  • #387
  • Mar 23, 2010 9:50pm Mar 23, 2010 9:50pm
Feb,

Which tale does volume on futures saying?
  • #388
  • Mar 24, 2010 3:49am Mar 24, 2010 3:49am
Quoting tghfbt8
The level 1.3450 was tested on Feb 19, Feb 25, March 2, and yesterday March 22.

Thus if this level will be broken time to go short. Otherwise long. The euro ATR is around 100 pips thus break of two ATR (200 pips) should be sufficient
If you read my post above yesterday afternoon, I said if EU daily bar close below 1.3500, then might be goodbye to bull correction. And it did close below there so we're heading south.
If you look closely EU has not closed below 3500 since it came all the way down from 1.4000.

We'll feast our minds and our accounts. just enjoy

Kenn
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #389
  • Mar 24, 2010 7:46am Mar 24, 2010 7:46am
That was sweet opportunity - unfortunately I was sleeping
Attached Image (click to enlarge)
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  • #390
  • Edited 8:50am Mar 24, 2010 8:48am | Edited 8:50am
Quoting Precap2
If you read my post above yesterday afternoon, I said if EU daily bar close below 1.3500, then might be goodbye to bull correction. And it did close below there so we're heading south.
If you look closely EU has not closed below 3500 since it came all the way down from 1.4000.

We'll feast our minds and our accounts. just enjoy

Kenn
Did you take any trades in this free fall??

I am attaching GBP/USD here, has made a H&S pattern and below 4480 (neckline) there is a good opportunity to short.

Eur/Usd waiting for pullback to enter in short side since no strong support till 3120.

Keep close eyes :nerd: on GBP though.

Thanks & Regards,
  • #391
  • Mar 24, 2010 8:51am Mar 24, 2010 8:51am
Quoting forex_fan
Did you take any trades in this free fall??

I am attaching GBP/USD here, has made a H&S pattern and below 4480 (neckline) there is a good opportunity to short.

Eur/Usd waiting for pullback to enter in short side since no strong support till 3120.

Keep close eyes :nerd: on GBP though.

Thanks & Regards,
Forgot to attach chart, please find it attached here.
Attached Image (click to enlarge)
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  • #392
  • Mar 24, 2010 9:23am Mar 24, 2010 9:23am
Congratulations to those who took the breakout - was worth around 100 ticks!!

I choose not to take it - and to be blunt I don't like breakouts in longer time frames...This is my personal subjective point of view please don't quote me later...I am not against breakouts. If you like to trade breakouts make sure you have some sort of confirmation like a pullback...
Peace
  • #393
  • Mar 24, 2010 9:28am Mar 24, 2010 9:28am
Quoting Precap2
If you look closely EU has not closed below 3500 since it came all the way down from 1.4000.
EURO close on Feb 18 was 3489 on Broco feed.
  • #394
  • Mar 24, 2010 9:55am Mar 24, 2010 9:55am
I think I will wait for pullback to 3400 - 3440 area.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd h4 3_24_2010.PNG Size: 46 KB
  • #395
  • Mar 24, 2010 10:59am Mar 24, 2010 10:59am
Quoting tghfbt8
I think I will wait for pullback to 3400 - 3440 area.
I have to agree 100% with you and going to enter at the same point.

I guess we are riding the same boat. Good luck to you and me as well.
  • #396
  • Mar 24, 2010 5:39pm Mar 24, 2010 5:39pm
May I encourage you to act like a big boy, quit using profanity, and at least pretend to care about someone but yourself? It goes a long way toward creating goodwill. As it is, people just think you're an idiot.

Quoting feb2865
Ok….those who know me knows (isn’t that redundancy?)...
  • #397
  • Mar 24, 2010 6:01pm Mar 24, 2010 6:01pm
Quoting Dreamliner
May I encourage you to act like a big boy, quit using profanity, and at least pretend to care about someone but yourself? It goes a long way toward creating goodwill. As it is, people just think you're an idiot.

Sorry my friend but this is how I am....I have a suggestion with all respect.... if you don't like my thread simply go somewhere else... not kicking you out just that you're so offended with my sincerity the best way is just to skip the thread ...don't you agree is simple??

or

maybe put me in ignore list...that's another one...

Thanks....
Peace
  • #398
  • Mar 24, 2010 6:07pm Mar 24, 2010 6:07pm
It is interesting that someone who specializes in martingale "average down" systems would think they were smart enough to recognize an idiot. Another clue is someone who knows what everyone else thinks.
  • #399
  • Mar 24, 2010 6:21pm Mar 24, 2010 6:21pm
Quoting kiwi_trader
It is interesting that someone who specializes in martingale "average down" systems would think they were smart enough to recognize an idiot. Another clue is someone who knows what everyone else thinks.
that is good to know kiwi!!!

I have a felling that people are coming here ranting and everything frustrated because their magic "systems" won't work no more....Like a monkey from one tree to another...Not my fault really...

this dreamliny guy has 28 threads started...what do you know???

I bet he's making money off this 28 ideas...what do U think Kiwi??...
Peace
  • #400
  • Mar 24, 2010 6:30pm Mar 24, 2010 6:30pm
Losing is the cookie monster of this "systems" ah yeah.....once they lose a couple of times in a run they just run like chickens looking who can save them from drawdown...

Just a side note here - I post my trades, whenever I have the chance....I don't have a magic wand...If I lose, I make it public...big deal!!!!

I am replying publicly to a guy ranting on my via PM - big baby go cry mama or just go try to get hired in wal-mart or something.....It's wrong to vent your frustration on me sweetie!!! I have nothing to do with your bunch of useless try-outs.....

But anyway, the doors are open if you want to learn something I'll give you good Karma ...

But please don't let the dreamily guy come around!!!! he's gonna get offended
Peace
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