The System II (Yes with irony)

again BE trade lol

Not good day for me.

Well - tomorrow would be tomorrow

Hi Dim42

Another day - another dollar.

I like your message: Patience is paid for in dollars - kept repeating it today while trading EUR/USD

Regards
DR

Hello!

My today's trade short

loss... again. lol

new swing is developing

another try for this session

Now it looks pretty normal. will see what happen

Closed 1:1 risk-reward

So... as you can see - the key moment in trading this system is MOVING MARKET. Unbalance market. You could trade only after you see the initial impulse move, and pullback.

Hi dim4ik42,

I just bumped into this thread and plan to stay..

Thanks for keeping this thread alive!

Can I ask how you draw the white lines?

Sorry if its a silly question.

It's a trendline with the RAY function taken off. If you draw a trendline on the chart, right click to go on to Trendline Properties, go to Parameters and tick off the Ray box.

Hope that helps.

Regards
Bak

Exactly!

Thank you Bakuli for help. I really could not say it better due to low level of knowledges of english (((

wait for new possible trade

what I look for has nothing to do with trend, S/R levels etc. I just look for swings either up or down, and try to get as much as I can from this swing.

The chances are better if you trade during active trading hours.

thank you

Hey All,
Thanks to Feb for starting this thread and offering his experience and all the people who have kept it going.
Ive been reading this thread for a few weeks now and have done some demo trades. Thought i might as well throw my hat in and get sharing.
This is my first demo trade for tonight. It didnt work out well, but im still learning how to apply all of Febs advice.
Are you going long or short Dim?

NWAM

Thanks Bakuli!

And I thought its some indy haha.

I'd rather buy the pullback and sell before the breakout. Much less risk there.

But on a great setup, this of course does look and work beauitful.

Best of both worlds in this clip.

Dear traders! Brothers and sisters!!!


I would like to post one of Feb's post which I did already again. I think not a lot of traders have understood the importance of the idea in this post....

Please, read it again. Over and over until you get the idea....

Here we go:

_____________________________________________________________


Markets are nothing more than a constant battle between supply and demand.



As simple as it sounds to whoever understand this, will have the highest probability of success in all markets.

No matter what time frame you're using, there will be always a pivotal point in which the market turns, either a pullback or a reversal. That by itself is a warning sign that the supply or demand is exhausting.

Indicators are just past representation of price. I am not here to debate if they're good or bad, as to me is the interpretation of the trader where the problem lies. Indicators tends to mislead people into a predictive figure, in reality they're just "warning signs".Unfortunately, traders rely more into what the indicator says rather than price.

As to me, identifying support and resistance or I should say, shifts between demand and supply has a tremendous advantage, system wise over any indicator system.

Markets are based on the laws of supply and demand. That's the real core. You are just watching when these forces are shifting.

Instead of predictive, Support and Resistance puts you into a "reactive mode" meaning ...what would you do when the market reach x price?? will you buy/sell the breakout or will you buy/sell the bounce??

I prefer to be reactive than predictive. I play the market. Not only at the entry but S/R helps me spot minor/major shifts in the market as my trade develops. Sometimes I just bail out and pass and sometimes my trade takes some heat before reaching my target.


Make it simple - here's an idea

Let the market develop into a direction. There always will be a high/low for the day. Draw two lines, one at the top and one at the bottom (please not to be confused with picking tops and bottoms)

Once the market reach any of these points just ask yourself
- will I buy the breakout??
- or will I sell the bounce??

I assure you something ALWAYS happens at these points!

Develop your own criteria about validating either one, like I'll buy the breakout on the next bar if it breaks the higher/high - lower/low of the next bar...and take the trade as quick as possible.

Whatever happens next it's up to how do you manage your trade/stop-loss etc.

This has been my system since 1980 and I won't change it for nothing.

______________________________________________________________


Read it more and more....

In fact - there is no "system" in the profit market trading. But there is understanding of how properly do things to "milk the cow". This post is EXACTLY about HOW TO DO IT PROPERLY.

Remember - to make money buying something we need someone who will buy after us, we will not make money buying if we would do it after period of buying, when the turning other way is high possibly. The other is true for selling.

Good luck!

cant find the file.
would appreciate a link.

thanks.