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The System III (Oh no!)

  • #941
  • Oct 11, 2010 7:18am Oct 11, 2010 7:18am
Another play could be go long @25 area with a tight stop looking back to 45?? well maybe...bears can still push the market further down...will do it with a light load just in case....
Peace
  • #942
  • Oct 12, 2010 5:24am Oct 12, 2010 5:24am
Morning!


I see today two areas - 3824 as resistance, and 3775 as support.
  • #943
  • Oct 12, 2010 5:43am Oct 12, 2010 5:43am
I got busted on 3800 level. Still looking to play some more.
Peace
  • #944
  • Oct 12, 2010 5:46am Oct 12, 2010 5:46am
Quoting dim4ik42
Morning!


I see today two areas - 3824 as resistance, and 3775 as support.
I would consider 85 as a more recent support...
Peace
  • #945
  • Oct 12, 2010 5:46am Oct 12, 2010 5:46am
we have FMOC @ 2:00
Peace
  • #946
  • Oct 12, 2010 7:03am Oct 12, 2010 7:03am
looking to short @50 if the market gets there..
Peace
  • #947
  • Oct 12, 2010 8:13am Oct 12, 2010 8:13am
short@41
Peace
  • #948
  • Oct 12, 2010 8:51am Oct 12, 2010 8:51am
Quoting feb2865
short@41
Very nice entry...what did you use to trigger @41?
  • #949
  • Oct 12, 2010 8:53am Oct 12, 2010 8:53am
target 05 reached...rocky morning for me pretty much. Still under for a small percentage but at least happy I could recover some of the lost profit. Let's see what happens next.
Peace
  • #950
  • Oct 12, 2010 9:00am Oct 12, 2010 9:00am
00 AND 50 were like magnets this morning...I got screwed earlier in 3800 but then it hold pretty well.....not bad but hey you lose some and win some more....
Attached Image (click to enlarge)
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Peace
  • #951
  • Oct 12, 2010 1:06pm Oct 12, 2010 1:06pm
Quoting feb2865
target 05 reached...rocky morning for me pretty much. Still under for a small percentage but at least happy I could recover some of the lost profit. Let's see what happens next.
Hello, Mr Feb!

I see your trades. Nice! 3841-3805 was great!

... I was not trading today, because.... well, because I had troubles with my wife... she was rowing almost whole day... lol.... it was just crazy day.....sometimes I wish I would have my office and would not trade from the house...

Ok! Back to trading!
  • #952
  • Oct 12, 2010 4:53pm Oct 12, 2010 4:53pm
Quoting sidefx
Very nice entry...what did you use to trigger @41?
actually I wanted to short @45 but I got in late. Whenever is a 00 or 50 level I use a 5 pips space for entry and cover..
Peace
  • #953
  • Oct 13, 2010 3:07am Oct 13, 2010 3:07am
Quoting feb2865
then a long could be a nice play ala system II.
Hey Feb, since you mention System II - I've been trying to make this work. The method got modified a bit throughout the thread and I'm curious how you'd trade it. With the original 21 target and trailing stop? If I don't trail the stop I want a bigger target to get a 2:1 ratio and I find it difficult to get 40+ ticks consistently. And now what I learn about System III makes me a bit skeptical of System II. For example if there is resistance overhead then the chance of getting 40 ticks is really slim. If we just bounced off support however then a System II long could work really well. So it seems System II needs to be taken in the context of System III.

I'd love to get your thoughts on that.
  • #954
  • Oct 13, 2010 3:14am Oct 13, 2010 3:14am
short@91 looking for 55
Peace
  • #955
  • Oct 13, 2010 3:20am Oct 13, 2010 3:20am
Quoting cunparis
Hey Feb, since you mention System II - I've been trying to make this work....
I don't endorse system II anymore. I made a mistake to mix my scalping techniques with a medium-range trading. There's a post I made around Dec 2008 that I explain why I am pulling myself away from the thread. This is where the whole thread changed to the FCR craze and although I went with the flow for a little while, FCR was a complete other concept which I never fully endorsed.
Peace
  • #956
  • Oct 13, 2010 3:27am Oct 13, 2010 3:27am
Quoting feb2865
short@91 looking for 55
for the record I wanted to short @95 - this time Oanda charts got frozen. It was on my side I need to clean my disk more often LOL..
Peace
  • #957
  • Oct 13, 2010 3:52am Oct 13, 2010 3:52am
Quoting feb2865
short@91 looking for 55
Good day, Feb!

I had today nice long trade form the not major support 3948 to the not major resistance 3971...

here is the chart....


I think this is more about like you showed some time ago a system based on the levels at 5 min. chart....
Attached Image (click to enlarge)
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  • #958
  • Oct 13, 2010 3:59am Oct 13, 2010 3:59am
Quoting feb2865
I don't endorse system II anymore. I made a mistake to mix my scalping techniques with a medium-range trading. There's a post I made around Dec 2008 that I explain why I am pulling myself away from the thread. This is where the whole thread changed to the FCR craze and although I went with the flow for a little while, FCR was a complete other concept which I never fully endorsed.

But I think the original concept (first 10-50 pages) of systen II is still good for traders.... once we have seen the initial swing of the centrifugal price moving - then we have a good chance to trade it... Talking from experience - it was good for me. Of course - loosing is the part of trading... So - no worries if we would have a loss...



I have to thank you exactly, because the System II was for me that time something, that did change my whole vision of trading.... If you would not share that system - I even do not know if I would trade to this day.... I would change the profession for sure... lol.

so - that System is holy for me... It was my letter "A" for me in trading.
  • #959
  • Oct 13, 2010 4:15am Oct 13, 2010 4:15am
Quoting dim4ik42
But I think the original concept (first 10-50 pages) of systen II is still good for traders.... once we have seen the initial swing of the centrifugal price moving - then we have a good chance to trade it......
A valid point..
Peace
  • #960
  • Oct 13, 2010 4:16am Oct 13, 2010 4:16am
A rocky morning so far - still short.
Peace
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