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The System (Irony included) 1,175 replies

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The System II (Yes with irony)

  • #16,061
  • Edited 1:51am Feb 2, 2012 1:39am | Edited 1:51am
Hello traders!

I want to post here my current long trade made with "System II"-method.

As always - following the market moves, following the flow is best method to trade

... because you do not dictate to market what to do, and as opposite - you are listening to the market.




Edit: Bail out at 3178. The wave did not happen.
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  • #16,062
  • Feb 3, 2012 7:34pm Feb 3, 2012 7:34pm
Dim,

That did look like a good "1-2-3" setup with the initial swing, retracement and move forward all stated clearly in the chart. My one point of criticism is that the retracement looks like it came back more than 50% of the initial swing making the trade not of A quality.

I came across this thread a few weeks ago and have found a wealth of knowledge and information. Thank you for posting your setups and keeping the thread alive. As long as this thread breathes, knowledge and learn will find life.
  • #16,063
  • Feb 4, 2012 6:02am Feb 4, 2012 6:02am
Quoting dim4ik42
Hello, traders!


Last days I decided to re-fresh some thoughts in my mind, and was re-reading some of greatest feb's posts...

It "click" in my mind that I was missing something interesting about how to make $$$ consistetntly (lol...) - I forgot about something that feb2865 calls - "trade expectancy"!!!!!!!

Not sure how about you, but I think "in this thing" is the so called "edge" for this system - "The System II".

I made an PDF for your benefit... so - read it, it contains pure gold for someone who get it...

Good luck!...
Excellent stuff Dim
every Saint has a past. Every Sinner has a Future
  • #16,064
  • Feb 6, 2012 2:14am Feb 6, 2012 2:14am
Nice 30+ pip swing at the open of the London session. Clean swing, clean retracement with lots of support at the 50%.

Anyone else watching this?
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  • #16,065
  • Feb 6, 2012 2:33am Feb 6, 2012 2:33am
Quoting Ender2492
Nice 30+ pip swing at the open of the London session. Clean swing, clean retracement with lots of support at the 50%.

Anyone else watching this?
Nice one set up!

Just look where the flow of price is, and go with that flow. Do not make predictions, trade what your eyse see in real time!
  • #16,066
  • Feb 6, 2012 2:53am Feb 6, 2012 2:53am
Looking at that setup from more of a "big picture" perspective, you'll see that the market was testing a pretty key level of resistance. It'll be interesting to see if/when the market comes back to retest these levels.

The black arrows denote areas of previous resistance on that 1.3096 level. The black line is an ideal TP/the next major line of resistance.

Very ideal setup. If it would have broke that level, it would have had lots of support upwards.
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  • #16,067
  • Feb 6, 2012 6:06am Feb 6, 2012 6:06am
Quoting Ender2492
Dim,

That did look like a good "1-2-3" setup with the initial swing, retracement and move forward all stated clearly in the chart. My one point of criticism is that the retracement looks like it came back more than 50% of the initial swing making the trade not of A quality.

I came across this thread a few weeks ago and have found a wealth of knowledge and information. Thank you for posting your setups and keeping the thread alive. As long as this thread breathes, knowledge and learn will find life.
Ditto your sentiment about this thread. Also riding the cable at present!
Audentes Fortuna Juvat
  • #16,068
  • Feb 6, 2012 5:21pm Feb 6, 2012 5:21pm
Quoting Ender2492
Looking at that setup from more of a "big picture" perspective, you'll see that the market was testing a pretty key level of resistance. It'll be interesting to see if/when the market comes back to retest these levels.

The black arrows denote areas of previous resistance on that 1.3096 level. The black line is an ideal TP/the next major line of resistance.

Very ideal setup. If it would have broke that level, it would have had lots of support upwards.
Although price did break lower around 4 a.m. EST, thus invalidating the setup, we do see that price ended up forming a nice "1-2-3" which ended up stalling out right at my TP I had for the initial setup.

I did not take the trade around 2 a.m. EST that I posted because price broke retraced past 50% for the move. It is just interesting to see how "1-2-3", The System II, and S/R areas all seemingly make sense together at the end of the day.

Hindsight....a blessing and a curse.....
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  • #16,069
  • Mar 9, 2012 10:18am Mar 9, 2012 10:18am
I hope I have correctly understood
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  • #16,070
  • Mar 9, 2012 10:49am Mar 9, 2012 10:49am
Quoting Sergey Kirov
I hope I have correctly understood
Hi Sergey,
correct, thats how it works

Feb does not use and even not like the snakeline (MA). But i also use the EMA(20) on M5 . It is not part of the System II but if one feel better with it, i think it is OK

MJ
  • #16,071
  • Edited 11:16am Mar 9, 2012 11:00am | Edited 11:16am
hi
I use EMA34 and 8 at 5 minutes
enamel on 20 and 50 refused
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  • #16,072
  • May 2, 2012 1:07am May 2, 2012 1:07am
is it viable to do a pip by pip trailing stop and just do a -20 pip from the HIGH point of the trade as a SL?

so basically not set a TP.
  • #16,073
  • Jun 4, 2012 8:39am Jun 4, 2012 8:39am
God Bless from me to FXA !
Cut Losses and Let Profits Run
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  • #16,074
  • Jun 16, 2012 10:20pm Jun 16, 2012 10:20pm
Quoting Behzad.H
God Bless from me to FXA !
Cut Losses and Let Profits Run
Fxachilles.

When is that you're going to learn you're not welcome in this thread anymore?
  • #16,075
  • Jul 23, 2012 5:52am Jul 23, 2012 5:52am
Great thread so far! Thanks to feb2865!
  • #16,076
  • Jul 30, 2012 4:35am Jul 30, 2012 4:35am
Can someone pls tell us what should we read from this thread? Because the number of pages is huge!
  • #16,077
  • Jul 30, 2012 5:13am Jul 30, 2012 5:13am
Quoting twamta
Can someone pls tell us what should we read from this thread? Because the number of pages is huge!
Ok. I was a fan of this thread. I learnt a lot here. If a remember well the 40 pages are a start. The system evolved later. Read Feb's posts . FXA also provided a huge contribution during Feb's absence. You can have a look at my trades too (look for my posts). Good Luck !
  • #16,078
  • Jul 30, 2012 6:37am Jul 30, 2012 6:37am
Thanks umbro!
  • #16,079
  • Jul 30, 2012 6:40am Jul 30, 2012 6:40am
Quoting twamta
Thanks umbro!
After all, we are traders but also nostalgic humans about our origins. Take care and don't give up.
  • #16,080
  • Jul 31, 2012 1:22am Jul 31, 2012 1:22am
Quoting umbro
After all, we are traders but also nostalgic humans about our origins. Take care and don't give up.
Can you tell me please your results in pips/month by using this method?

Thanks!
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