The System III (Oh no!)

waiting for 10:00 AM announcement - Oanda had plenty of trouble this morning. I could'nt go short on the 8:30 news...

in a perfect world, I'll be looking to short against 1.4050 but there's some news @ 10:00...

after connectivity issues, long @05 looking for a small cut around 36. Medium load...

no use...bail out with a small scratch of -2 pips..no biggie....see U guys next week...volatility is very low...

See you, brother Feb! Take care! Have a good weekend!

Hi Feb,

it took me 4 days to get through the thread but very informative and i have to say i like the idea of the bounce, i trade S/R but somthin you said in the few posts has made a difference, and big plus no silly indicators.

Thank you

Guys.

The thread is open for everyone to share, ask questions etc. I am stepping back 'cause lately I am the only one talking here.

I actually followed this thread initially when I first began trading live a year ago. Since then I temporarily stopped visiting the site altogether, not allowing my trades to develop purely out of fear based on my own lack of faith in myself. Since then I've run the gamut of emotions through this business. Thankfully I haven't blown up any accounts and have been smart enough to stick with it through demo to find what I'm most comfortable with. Fast forward to many moons later and I find myself here again with the realization that this strategy is most similar to what I myself have settled on, albeit I look at a little bit of PA and a larger TF due to my many other commitments in the mean time.

Anyway I like the 1.3746 region to enter long. I didn't have faith in that support initially as my chart shows. I was looking for price to go a little lower. That also could be due to fear after messing up my last trade. Anyway that fear is probably what also has me waiting for a pullback rather than just jumping on a train I already missed. If it doesn't trigger; oh well. I'm comfortable enough not to kick myself over it. If it does, I looked at what I think is the stronger support to set up my stop. Thoughts? As a sidebar; it's only zoomed in so much for viewing purposes here.

EDIT: On second thought I think I'd rather wait for price to hit the lower support before entry as I had initially planned. Feels safer
On a final note; the community that has developed here over the year has grown into something great, feb. I hope it continues to bring on good thought. I am still learning a lot, but discussion (once you don't get paranoid over it) is a very useful tool under the right terms.

Hi Feb,

been watching the thread closely but quite scared to offer question and view considering your quite a scary person.

Just a quick question, does adding Fibo line on top of the S/L line does really helped?

Another one, how do you really filter out the fake turnpoint? or just like u said, just swallow the loss and move on.

Cheers.

1)no, fibo lines doesn't help.

2)I swallow the loss and move on. Filters are simply an illusion. You either a) lose b) win c) break-even. But one way to minimize fakeouts is to wait for the bar to close in the timeframe you're trading.

I consider myself a straightforward person. I know my language could be harsh sometimes but I don't offend anyone. As you can see, your questions are definitely valid and I reply properly. What I can't do is to tell people when to trade or how.

Thanks feb,

thats what i thought.

Tried Fibo but the breakout are clearly an illusion (well for me), this method is more simple and straight.

If it smack you in the face, get up and move on. No whining, no crying.

Cheers feb.

Morning, traders!


My first short trade for today.... 1:1,5 RR... Nice simple trade....


Good luck to all!!!!!

current long trade...

I think - the entery is not the best... but... - will see how it goes...

Dear Feb!!!

I like so very much this your statement: You either a) lose b) win c) break-even. So simple.... So nice!!!!!


Thank you for all your help to us!!!!!!!

Target hit. Two profitable trades for this morning.

new short trade.... will see if I am so lucky to win again .. lol

... well... the market is stalling under the upper level... may be - before the news of EUR-zone Flash Manufacturing PMI after 2 minutes...

Well - or my SL or my TP will be hit... As I am with low load - I will wait a little....

SL hit...

a case of "owwh i think i can win again" which is the sub-case of overtrading.
been there done that.

whenever i locked some profit, i closed the chart, smoke, and get a coke.
an hour later i'll come back just for a glance of the chart just to see if any radical movement going on.

I get what do you mean... but... What about - how do you do your MM???

Personally I do not trade "all possible money for today" in one trade... at least - in 4 trades. So - two wins, one loss... no second-guessing... Just - see the possibility (may be subjectively), place my orders - and wait for the market to fill my order. If I loose... I still have money for keeping trade... until I loose all my predetermined risk for today.


Regards!