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The System II (Yes with irony)

  • #15,421
  • Jul 23, 2010 10:54pm Jul 23, 2010 10:54pm
Quoting wp3vv
I totally agree. Just to add a quick note I know for a fact that FEB will be noticed. He has some pupils who are regular posters here. As for now, I bet FEB would like to see you guys posting charts and making comments.
Feb was my teacher on 2001. We live in the same country. I put a message on his voicemail and waiting for a response. If I get lucky, we will get the master back . Crossing my fingers.
  • #15,422
  • Jul 25, 2010 2:06am Jul 25, 2010 2:06am
Quoting nomoretoxic
Feb was my teacher on 2001. We live in the same country. I put a message on his voicemail and waiting for a response. If I get lucky, we will get the master back . Crossing my fingers.
Thanks for the great new. We all hope he'll be back soon.
  • #15,423
  • Jul 25, 2010 9:18pm Jul 25, 2010 9:18pm
Quoting feb2865
Ok

The first thing we need to do is to qualify the swing. A real headache for some Fibonacci traders(no offense intended please).

Well, I decided to do a lil' research some years ago and it's kinda complicated. See, there's something called "intraday range"...
Hi Folks:
I've read this thread from top to bottom and loved it, my question to people still trading FEB's original version is this, does it matter if the 30-40 tick move is on the 5 min chart or can it be larger. I know this might sound obvious, but if the swing range is there should it matter if it's on say a 1 hr chart? Thanks guys and really appreciate the folks who are keeping this thread alive.

Jim
  • #15,424
  • Jul 25, 2010 11:44pm Jul 25, 2010 11:44pm
Quoting bigjim1958
Hi Folks:
I've read this thread from top to bottom and loved it, my question to people still trading FEB's original version is this, does it matter if the 30-40 tick move is on the 5 min chart or can it be larger. I know this might sound obvious, but if the swing range is there should it matter if it's on say a 1 hr chart? Thanks guys and really appreciate the folks who are keeping this thread alive.

Jim
G'day Jim,

... the answer to your question is in other threads by Feb,
go to ... http://www.forexfactory.com/showthread.php?t=54528 and http://www.forexfactory.com/showthread.php?t=222869

Darek
  • #15,425
  • Jul 26, 2010 9:35am Jul 26, 2010 9:35am
Just to be very honest, I have very little experience with forex. like 2 winning trades and one losing. if anyone can shed some realistic light on this matter... from my point of view, if i dump my entire capital on something simple, like a jardine fleming eastern fund and leave it untouched for a decade, the end result would be like +10% -> +17% on average, every year (on average).

I've spent around 20+ hours reading this specific thread. do u guys really reckon that after taking all the good and all the bad, that we can make like +40% per annum on the total capital being used?

it's really hard for me to predict. just using a rough estimate, and it does seem to me that this thread is extremely feasible, but just saying on any 60 trades, if i can have 25 making 20 pips and 35 losing 10 pips.... that would be in the range of around +30% per annum on the total capital being used.

i did read from some earlier posts somebody saying they win 75->80% of the time. that is almost impossible to believe.

are you guys really able to consistently win like 4 out of every 10 trades (which would be extremely profitable since each winning trade is double of a losing one).

thanks for any realistic feedback on this....
  • #15,426
  • Edited 3:03am Jul 27, 2010 1:53am | Edited 3:03am
Morning system 2. quite miss this thread but things got way too messy here. How are people getting on with the method? have there been any changes? I still trade 5min eur/usd in a similar way but look to get in on pullbacks instead in order to reduce my risk to 5-7 pips. i trail my trades the system 2 way. I only just read about feb and it sad that it came to him leaving FF. Its a shame that it came to this. good luck today to everyone

In short @1.29839

Knocked out early. re-entred short@ 1.29921. should have stuck to my pull-back rules!!
Moved to BE
out BE
  • #15,427
  • Jul 27, 2010 10:03pm Jul 27, 2010 10:03pm
Hey guys,


been avidly reading thru a lot of Feb's work particularly this thread and have started demo- trading, just wondering where you are placing your orders and how the spread influences it have traded shares /futures but not so familiar with forex platforms.

Eg when we have a simple swing/pullback are you placing your long entry say 2pips+spread above the high?? and when placing stop losses for the trade eg if the spread is 2 pips and we want an initial stop at 25pips do we place it at 27pips to allow for the spread?

a quick clarification would be great!

cheers
  • #15,428
  • Jul 28, 2010 8:42am Jul 28, 2010 8:42am
As per request of some friends I have here, I am going to post possibly today answers about some issues, concerns and maybe I'll throw some tips here and there.

Stick around. I'll post this afternoon.

Good Karma..
Peace
  • #15,429
  • Jul 28, 2010 9:01am Jul 28, 2010 9:01am
Quoting feb2865
As per request of some friends I have here, I am going to post possibly today answers about some issues, concerns and maybe I'll throw some tips here and there.

Stick around. I'll post this afternoon.

Good Karma..
hai feb, welcome back..how is your health issue? do u will continue to post regularly after this?
good karma
  • #15,430
  • Jul 29, 2010 6:37am Jul 29, 2010 6:37am
Quoting feb2865
As per request of some friends I have here, I am going to post possibly today answers about some issues, concerns and maybe I'll throw some tips here and there.
Stick around. I'll post this afternoon.
Good Karma..
I'm so happy to see your comeback to this thread and ForexFactory,
how is your health? ... I hope you're recovering O.K.
... actually, I'm double-happy ... as you're in both threads, like in old good times
Darek
  • #15,431
  • Jul 29, 2010 9:40am Jul 29, 2010 9:40am
Quoting feb2865
As per request of some friends I have here, I am going to post possibly today answers about some issues, concerns and maybe I'll throw some tips here and there.

Stick around. I'll post this afternoon.

Good Karma..
Welcome back Sir,
It is great pleasure for us to see you are back. How is your health and every thing. We wish you to be in best of your health always.

Thanks for coming back.
  • #15,432
  • Jul 30, 2010 1:20am Jul 30, 2010 1:20am
Quoting feb2865
As per request of some friends I have here, I am going to post possibly today answers about some issues, concerns and maybe I'll throw some tips here and there.

Stick around. I'll post this afternoon.

Good Karma..
Great you are still alive ! Sorry, but this is the real truth about our life... don't misunderstand me. I don't care about others' comments.
I'm listening ... thanks in advance...
Good Karma to you too and peace...
Umbro
  • #15,433
  • Jul 30, 2010 3:54am Jul 30, 2010 3:54am
Ok. I'll post the question... without going too deep in the technical stuff... what's your opinion about this market ? I mean, Do you still think one can be profitable with one pattern (I don't want to say which one) ? Personally I extended my patterns (I took some teachings from you from the System III system and applied to the 5M) ... but I suffered these latest months.. I'm getting back my money and I'm positive recently. I figured out that a pattern is just a pattern, what's your opnion Feb ?
Thanks in advance with most of respect.
Don't give an answer if you don't wish, you don't have to.
Again Thanx
Umbro
  • #15,434
  • Jul 30, 2010 11:12am Jul 30, 2010 11:12am
Quoting chiba_san
Just to be very honest, I have very little experience with forex. like 2 winning trades and one losing. if anyone can shed some realistic light on this matter... from my point of view, if i dump my entire capital on something simple, like a jardine fleming eastern fund and leave it untouched for a decade, the end result would be like +10% -> +17% on average, every year (on average).

I've spent around 20+ hours reading this specific thread. do u guys really reckon that after taking all the good and all the bad, that we can make like +40% per annum...
A realistic feedback would be none of the above.

In my experience statistics + trading don't match.

I don't like to use the word random 'cause some people are kinda sensitive on that word. But markets are some sort of "organized chaos" in my opinion. You need to take what the market gives. You could have a week 9 out on 10 winners, the other one could be 5-5 etc.

People try to predict the markets. It's more profitable to react.

The only route to profit is be there to capitalize on the opportunity and manage your losses to keep them in the minimum.

Trade on a short timeframe always looking for the long expectancy. Trade off 5 minutes,1 minutes etc keeping your eye on the results after 30 days.
Peace
  • #15,435
  • Jul 30, 2010 11:14am Jul 30, 2010 11:14am
Quoting umbro
Ok. I'll post the question... without going too deep in the technical stuff... what's your opinion about this market ? I mean, Do you still think one can be profitable with one pattern (I don't want to say which one) ? Personally I extended my patterns (I took some teachings from you from the System III system and applied to the 5M) ... but I suffered these latest months.. I'm getting back my money and I'm positive recently. I figured out that a pattern is just a pattern, what's your opnion Feb ?
Thanks in advance with most of respect.
Don't give...

This market = summer .Volume decrease on the bank's books.
Peace
  • #15,436
  • Edited Jul 31, 2010 6:26am Jul 30, 2010 11:36am | Edited Jul 31, 2010 6:26am
Thanks to all of you who have inquired about my health. My recovery is positive and my prognosis looks very good. I am still on chemo.
I retired from this site because I feel like I gave so much for the community and everybody flocked away from my forums. So I thought that people don't need my assistance anymore. I am ok with that.

On the controversy that Mr. wiztrader brings, I have never gave out authorization to anyone to put this teachings in commercial mode.

ALL the "systems" are nothing more than frameworks you need to built upon. Make them comfortable for you. In the next weeks I'll be open up site. Google it as my nick feb2865.

Oh about FCR vs. My teachings - you need to decide what's right for you. I am not in position to aprove nor criticize FCR stuff All I can say is that my teachings are simple to apply and very intiutive

Well, back to my cave again...
Peace
  • #15,437
  • Jul 30, 2010 12:26pm Jul 30, 2010 12:26pm
Quoting feb2865
A realistic feedback would be none of the above.

In my experience statistics + trading don't match.

I don't like to use the word random 'cause some people are kinda sensitive on that word. But markets are some sort of "organized chaos" in my opinion. You...
Glad you are feeling better.

If you can stand one more question/comment.

Everything I've done so far tells me that success in trading runs counter to what every fiber in my being screams at me to be doing. It seems that my natural tendency is to make order, see order and create order. To wrap statistics around the mass of price movement and quantify 'what might happen next'.

Psychology - that is the battlefront for me.

I don't see any other way to win in that game outside of seat time and 1000's of trades taken. The act of getting my head straight - that is really very hard.

Any tips you can share?
I'm pretty much done with all this ...
  • #15,438
  • Jul 30, 2010 12:46pm Jul 30, 2010 12:46pm
Quoting feb2865
Thanks to all of...
Look forward to joining your website.
  • #15,439
  • Jul 30, 2010 12:53pm Jul 30, 2010 12:53pm
These books helped me:

“The Disciplined Trader” by Mark Douglas

&

“Fibonacci Ratios with Pattern Recognition” by Larry Pesavento


Pesavento's book is included more for the psychology of trading references, not neccesarily the trading methodology he lays out.

Have a good read! That ought to keep you busy for a while.

Thanks for your nuggets of wisdom Feb, you really set me on a more defined path to creating profesional habits.
  • #15,440
  • Jul 30, 2010 7:24pm Jul 30, 2010 7:24pm
feb;

we sure are glad to see you and delighted to hear your prognosis is favorable. we await your pearls of wisdom. please let us know when you put up your site. thank you very much.
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