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The System III (Oh no!)

  • #1,241
  • Nov 28, 2011 12:06pm Nov 28, 2011 12:06pm
If you see a breakout...always wait for a pullback - that's a golden rule...don't go crazy...
Peace
  • #1,242
  • Edited 12:26pm Nov 28, 2011 12:14pm | Edited 12:26pm
Quoting feb2865
Keep at it brother!! Next year will be awesome! If you polish your trading skills like now you'll be the next zillionaire of Ukarine!! and you'll fly me over for a celebration hahahahahaha.....just kidding...

I would keep learning to trade as much as possible! To become succesful trader is what I want from all my heart for many years already... i should say - about 6 years now. Early I have read a lot of books etc. even come to some courses. But after them all I was even more in the dark what the trading is about.... lol I think - usual story.

After I find your thread "System I" - it was clear for me - this is WHAT I AM LOOKING FOR! Trading like auction..... After that i step by step grasped the concept of supporit and resistance, or supply and demand. Now I am learning how to "surfing" at these natural market's waves, when the market is moving from one corner to the other....

I wait WITH GREAT INTEREST for that seminars about which you was talking some days ago... May be after them I would be able to read market properly, and swim on it's waves....


THANK YOU, Master for your teaching!!!!!!

Take care! Wish you all the best!
  • #1,243
  • Nov 28, 2011 12:21pm Nov 28, 2011 12:21pm
i took this long trade just in case... but with very low load.

Hope I was able to recognize changing of the market forces'...

My first target would 3347.... I would observe the market there.
Attached Image (click to enlarge)
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  • #1,244
  • Nov 28, 2011 12:36pm Nov 28, 2011 12:36pm
Quoting dim4ik42
i took this long trade just in case... but with very low load.

Hope I was able to recognize changing of the market forces'...

My first target would 3347.... I would observe the market there.
don't set your targets at the level line - have an offset.....sharks are always present at levels......5-10 pips is a good average....
Peace
  • #1,245
  • Nov 28, 2011 12:50pm Nov 28, 2011 12:50pm
Quoting feb2865
don't set your targets at the level line - have an offset.....sharks are always present at levels......5-10 pips is a good average....
Be aware that's 2:48 PM EST - Currencies tend to stall after 2 PM - Don't pull off!! just let the trade takes it's course....just for you to know in case you see momentum going dry....
Peace
  • #1,246
  • Nov 28, 2011 12:52pm Nov 28, 2011 12:52pm
Feb,
I have been reading your journal for the past couple of days, so i guess i am lucky to have joined in the discussions as you come back to us here at FF, it seems you were missed by alot of people!
Anyhow, i have been learning by your charts of mainly support/resistance plotting, i came to this thread this morning but nothing new was posted, so i went about plotting the levels as i thought you would have, came back this evening and delighted to see that when i compare your charts to mine, i had the levels spot on!
Its only 1 days proof, but your teaching has helped me greatly, i will post a graph or 2 in the upcomming days to see if i am still on the right tracks,
thanks again! rob
  • #1,247
  • Nov 28, 2011 1:01pm Nov 28, 2011 1:01pm
Quoting robthorp
Feb,
I have been reading your journal for the past couple of days, so i guess i am lucky to have joined in the discussions as you come back to us here at FF, it seems you were missed by alot of people!
Anyhow, i have been learning by your charts of mainly support/resistance plotting, i came to this thread this morning but nothing new was posted, so i went about plotting the levels as i thought you would have, came back this evening and delighted to see that when i compare your charts to mine, i had the levels spot on!
Its only 1 days proof, but...
Welcome to the club!
Peace
  • #1,248
  • Nov 28, 2011 1:14pm Nov 28, 2011 1:14pm
this is how my trade looks like now.... stop-loss and profit target adjusted.
Attached Image (click to enlarge)
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  • #1,249
  • Nov 28, 2011 1:27pm Nov 28, 2011 1:27pm
Quoting dim4ik42
this is how my trade looks like now.... stop-loss and profit target adjusted.
You would probably have another test of support - the market is up for grabs now...liquidity is thin...
Peace
  • #1,250
  • Nov 28, 2011 1:32pm Nov 28, 2011 1:32pm
Do not think I am stupid....lol... but...

after I bail out on the second test long trade with some pips... i took this short based on the double top... and double failure..


As i understand that now is not time for good moving of price I took it wi just 0.10$ per pip.... Just that I would like "to grasp better" the concept... I feel like I get it now.... I feel so good about this feeling!!!!!!!!!!
Attached Image (click to enlarge)
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  • #1,251
  • Nov 28, 2011 1:42pm Nov 28, 2011 1:42pm
Quoting dim4ik42
Do not think I am stupid....lol... but...

after I bail out on the second test long trade with some pips... i took this short based on the double top... and double failure..


As i understand that now is not time for good moving of price I took it wi just 0.10$ per pip.... Just that I would like "to grasp better" the concept... I feel like I get it now.... I feel so good about this feeling!!!!!!!!!!
I was looking at it and I knew bulls were running out of gas....anyway you did good brother! I expect some sort of struggle at support but...again...liquidity is an issue unless our future friends dump some euros....who knows...
Peace
  • #1,252
  • Nov 28, 2011 1:52pm Nov 28, 2011 1:52pm
Quoting dim4ik42
Do not think I am stupid....lol... but...

after I bail out on the second test long trade with some pips... i took this short based on the double top... and double failure..


As i understand that now is not time for good moving of price I took it wi just 0.10$ per pip.... Just that I would like "to grasp better" the concept... I feel like I get it now.... I feel so good about this feeling!!!!!!!!!!
closed with 5 profitable pips... as I see now - too early.

You can't imagine HOW GREAT FEELING is now for me... I just can't stop myself to trade... lol

I knew after reading some of your materials about support-resistance/ supply-demand, but was struggling how to enter-exit these trades.... Now after your explaining I think it "click" in my head... Of course - still so lot to learn about time of the day... liquidity... better to master skill to read the price etc.... But at least - I feel I can understand somehing for now.

Thank you for this!
  • #1,253
  • Nov 29, 2011 12:07am Nov 29, 2011 12:07am
Morning, traders!

I took this short based on the rejection on the resistance level. Although I would like my profit target would be the next level (support below), I would trail my stop loss to BE after price reach somewhere around 3335, because there could be some minor reactions, or may be there would be true rejection and reversal. I show the current level with arrows.
Attached Image (click to enlarge)
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  • #1,254
  • Nov 29, 2011 1:24am Nov 29, 2011 1:24am
Quoting dim4ik42
Morning, traders!

I took this short based on the rejection on the resistance level. Although I would like my profit target would be the next level (support below), I would trail my stop loss to BE after price reach somewhere around 3335, because there could be some minor reactions, or may be there would be true rejection and reversal. I show the current level with arrows.
That's interesting, I took a very similar short from a daily chart but I'm targeting a few hundred pips. If 1.32 breaks we could be in for a good drop.
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  • #1,255
  • Nov 29, 2011 1:32am Nov 29, 2011 1:32am
This works nicely on dailies too, here are some of my current trades. Sorry this is after the event, I just found the thread.
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  • #1,256
  • Nov 29, 2011 1:45am Nov 29, 2011 1:45am
Quoting dim4ik42
Morning, traders!

I took this short based on the rejection on the resistance level. Although I would like my profit target would be the next level (support below), I would trail my stop loss to BE after price reach somewhere around 3335, because there could be some minor reactions, or may be there would be true rejection and reversal. I show the current level with arrows.
Out BE... do not like this move against me.
  • #1,257
  • Nov 29, 2011 2:24am Nov 29, 2011 2:24am
Here's a fresh one. Usdjpy. Only needs a 50 pip stop and should be 200 pips in it if it continues, maybe more?
Attached Image (click to enlarge)
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  • #1,258
  • Nov 29, 2011 2:28am Nov 29, 2011 2:28am
as I miss the move down at London open I went to 5 min chart to trade long this rejection... Just to make some pips in case it would go up.
Attached Image (click to enlarge)
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  • #1,259
  • Nov 29, 2011 2:35am Nov 29, 2011 2:35am
Quoting dim4ik42
as I miss the move down at London open I went to 5 min chart to trade long this rejection... Just to make some pips in case it would go up.

It is very hard but MUST to sit in your trade while it is maturing... The marke t is like thinking to goes that way or not.... ouh!...


EDIT: 0ut -6 pips
  • #1,260
  • Edited 3:21am Nov 29, 2011 2:54am | Edited 3:21am
To be or not to be... ???

Another try for the london session.. Breakout trade like feb told yesterday. entering after "breakout+pullback" scheme. Target - next level.


EDIT: 0ut -4... the trade was not going my way
Attached Image (click to enlarge)
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