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The System III (Oh no!)

  • #1,061
  • Oct 26, 2010 3:34am Oct 26, 2010 3:34am
Quoting Kaptain Ahab
Hi Dim, what was your criteria for going short?
rgds/Kev
Hi!

Look at chart... and look there for white arrows.

They show (at least for me lol) good forming level. This is the main reason why I took short at the bounce off the level.
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  • #1,062
  • Edited 4:01am Oct 26, 2010 3:45am | Edited 4:01am
Dim, by any chance do you look at the Dow or SP500 for confirmation before you pull the triggr? I am trying to figure out the intermarket relationship without much luck. Anyway 4H pinbar influenced me to go long right above the 30M fractal at almost the same time you shorted. Cheers/Kev

Quoting dim4ik42
Hi!

Look at chart... and look there for white arrows.

They show (at least for me lol) good forming level. This is the main reason why I took short at the bounce off the level.
  • #1,063
  • Oct 26, 2010 3:49am Oct 26, 2010 3:49am
its kinda an holding that area at the moment.
im waiting for new york to open and some news before jumping in.
  • #1,064
  • Oct 26, 2010 4:00am Oct 26, 2010 4:00am
Quoting Kaptain Ahab
Dim, by any chance do you look at the Dow or SP500 for confirmation before you pull the triggr? I am trying to figure out the intermarket relationship without much luck. Anyway 4H pinbar influenced me to go long right above the fractal at almost the same time you shorted. Cheers/Kev

One day I did start to do everything as simple as it could be....

What I do (of course I am not master! I am still learning!!!) - I just look at E/U currency pair, Look at one chosed TF (3o min this time), look for levels (areas of Supply and Demand, or areas of Resistance and Support), and take my trades based on these observations. What helps me is - of course MM. Why - because I try to keep my losses in the minimum, so even one next win trade could return me about 2-3 previous losses....

Feb, our Master, our Teacher, told us one day -

Make your life easy!

"If the market closes above/below this level, then I'll be short/long.
My stop-loss will be at (x) level , which is the last swing high/low and my level of risk is acceptable. If not, then I will adjust my load . After x amount of pips, I will trail my stop to B/E(plus the landlord's fee) and I will try to shoot for anything greater than my initial risk"

"If I get stopped/bail out etc, then I'll be looking at the other way (long/short). My stop-loss will be at (x) level , which is the last swing high/low and my level of risk is acceptable. If not, then I will adjust my load . After x amount of pips, I will trail my stop to B/E(plus the landlord's fee) and I will try to shoot for anything greater than my initial risk"

ALL IN ONE CHART.


Hope - it helps!
  • #1,065
  • Oct 26, 2010 4:11am Oct 26, 2010 4:11am
i got lot to learn....almost finishing up the Feb's System I thread. great read. thx guys. rgds/Kev
  • #1,066
  • Oct 26, 2010 1:17pm Oct 26, 2010 1:17pm
Quoting dim4ik42
Morning, traders!

Have a short trade now.

Possible targets are - two shadows at the chart. 1 or 2... will look closely at price behavior at those areas.

Target 2 is reached. Good day for me.
  • #1,067
  • Oct 27, 2010 1:42am Oct 27, 2010 1:42am
morning traders!

Here is my current short trade which I took from yesterday.
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  • #1,068
  • Oct 27, 2010 2:01am Oct 27, 2010 2:01am
good one !
  • #1,069
  • Oct 27, 2010 3:39am Oct 27, 2010 3:39am
I am in from 1.3823 but looking shakey now hoping that 3822 ish will turn it back down
cheers
Allan J
  • #1,070
  • Oct 27, 2010 4:49am Oct 27, 2010 4:49am
Quoting dim4ik42
morning traders!

Here is my current short trade which I took from yesterday.

I did closed my trade at 3779 area... because I did think - there could be turning point too... And - looking at chat now - I understand - it really is there.
  • #1,071
  • Oct 27, 2010 5:04am Oct 27, 2010 5:04am
you did good nice trade am still in the 5 min chart is / was looking better will see how it goes was on a 4 hour chart and having dinner so missed that reversal candle am sitting on it now lol,
Allan
  • #1,072
  • Oct 27, 2010 5:39am Oct 27, 2010 5:39am
Quoting dim4ik42
I did closed my trade at 3779 area... because I did think - there could be turning point too... And - looking at chat now - I understand - it really is there.
I am going to follow you on 30m charts today...
Peace
  • #1,073
  • Oct 27, 2010 5:43am Oct 27, 2010 5:43am
market is bouncing off 50 level....
Peace
  • #1,074
  • Oct 27, 2010 5:57am Oct 27, 2010 5:57am
Quoting feb2865
I am going to follow you on 30m charts today...
Oh! Morning, Feb!!!!!

I am so glad to see you! Hope - you are OK. I have to say you "THANK YOU FOR YOUR HELP TO UNDERSTAND HOW TO TRADE THE MARKET" every day.

Honestly - you helped me so much in my trading... I am still learning - but - I know now what I am doing.
  • #1,075
  • Oct 27, 2010 6:04am Oct 27, 2010 6:04am
stopped -30 pips so back to page one I think
Allan
  • #1,076
  • Oct 27, 2010 6:08am Oct 27, 2010 6:08am
I would like to wait for the bouncing (if it would be) off the level 3869 for short trade.... or breaking and then pullback for long trade.
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  • #1,077
  • Oct 27, 2010 6:09am Oct 27, 2010 6:09am
Quoting JayalFX
stopped -30 pips so back to page one I think
Allan
Re-reading is a good thing... But - just remember - we all have losses from time to time... You have to know at least for yourself how you validate your entery point, and where is logical to place your SL.



Just look back for my posts - and you will see - how many losses I did have... But - I still keep trading!
  • #1,078
  • Oct 27, 2010 6:23am Oct 27, 2010 6:23am
thanks for that I did have a chance to break even but thought it would head back ... like it is now lol will have a look at the us open or maybe if it breaks the 1.3800

my thanks to Feb also for the thread and guidance
  • #1,079
  • Oct 27, 2010 6:25am Oct 27, 2010 6:25am
now it looks like I will wait for a bounce off 3770 area level...
  • #1,080
  • Oct 27, 2010 6:49am Oct 27, 2010 6:49am
Quoting dim4ik42
now it looks like I will wait for a bounce off 3770 area level...
sounds like a logical level
Peace
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