Here is my ongoing trade. Difficult because we have slow volatility. I think I'm going to exit because we were not going to face any movement before news but who knows...
Here is my ongoing trade. Difficult because we have slow volatility. I think I'm going to exit because we were not going to face any movement before news but who knows...
Long @25782.
This evening we have the clown.
11:00pm USD Fed Chairman Bernanke Speaks
Ignored
Sorry guys the news are at 11:00pm for me but actually 2:00 pm GMT. Still in the trade.
I am one of those miserable breakeven traders. I just can't seem to get a head of steam up so I am consistently profitable. I've always traded the pullbacks, trying to get in at the best possible price, only to have so many turn into a reversal.
I've never believed in "breakout" methods, which this one seems to be. I always learned that that is where all the "losers" put their buy/sell orders and that's where the market movers run the stops only to create false breakouts.
But Feb and so many others on this thread have proven otherwise. It's all how you manage the trade that makes this successful. And, by waiting for the breakout, it elleviates the reversals that I keep experiencing.
So my hope is to stick around, contribute what I can, and see how it goes.
Apparently Feb was ill, I hope he's doing okay now. Does anyone know how he's doing? Also, many posts back a chatroom was illuded to. Does that still exist?
Many thanks to Feb and the others for continuing this great thread.
Wally
"Be the change that you wish to see in the world." --Gandhi
I am one of those miserable breakeven traders. I just can't seem to get a head of steam up so I am consistently profitable. I've always traded the pullbacks, trying to get in at the best possible price, only to have so many turn into a reversal.
I've never believed in "breakout" methods, which this one seems to be. I always learned that that is where all the "losers" put their buy/sell orders and that's where the market movers run the stops only to create false breakouts.
But Feb and so many others on this thread have proven...
SL at BE
TP at 2688, around R2
But ready to bail out at any moment when price moves down quickly...
Covering my ass and my profit, cause no-one knows where the market is heading to...
Nice job Rocker. I wish I was around to take that move too, but I was playing tennis.
Ignored
TY Wally.
Are you interested in considering a 30-40 pips swing and the way its pullback will (maybe) break its former H/L ?
If you are, welcome on board...
Actually, Feb's 123 method is maybe, or certainly, not "THE BEST WAY OF TRADING" ever known, but his words of wisdom helped me a lot to keep my trades and my emotions "under control". He helped me to read the market and dance with it without hoping.
SYSTEM II is not a "trading plan" to the Holy Grail, but it's a guideline that fits me...thanks to Feb's words and all those who contributed.
My apologies to all those who may think that I don't post any new constructive input to this thread, except for "boring 123 set-up" and their results.
I'm not confident enough to feel able to give any tips or advice.
Actually, I met SYSTEM II a few weeks ago and it helped me on my way to discipline.
The main reason that made me post the set-ups : to make this thread live. I can't do anything else cause I don't have Feb's experience and wisdom.
I'm just trying to do my homeworks and post them.
As Feb said : wash, rinse and repeat...
However, if you have any conctructive criticism, feel free to tell me. Any commentary is welcome.
But, please, don't make any useless questions as someone did about my posting in another thread...
Hey guys… let’s stick to what works, and that is what fxa has placed here (no disrespect to feb)… the fcr plan is the shit… I am profitable at it, and so can you be… the structural planning that is set by this man is un-parable because simply it offers consistency to your trading.
What the hell, I will try to come out of my shell and put up some charts during trading hours… lets join in and pick up where this thing was left off.
Good karma
Mav
