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The similarity system

  • #7,601
  • Sep 8, 2014 9:14am Sep 8, 2014 9:14am
Quoting josh11
{quote} Your risk was 8 pips and I think your DD was like 3 pips.. now if you have your SL at BE you will have a free ride to possible a long way down All the best
Thanks Josh. Just curious: we do not need to use trailing stop for this concept , right ?
  • #7,602
  • Sep 8, 2014 9:19am Sep 8, 2014 9:19am
Quoting vlady1974
{quote} I love this post. TBIRD! Guess what!?! YOU'RE A TRADER NOW! Keep it simple, manageable, consistent. Live your life not your trades!
Thanks a lot Vlady. I will remember all things you all have told me ... will keep that, in mind
  • #7,603
  • Sep 8, 2014 9:19am Sep 8, 2014 9:19am
Quoting tbird2121
{quote} Thanks Josh. Just curious: we do not need to use trailing stop for this concept , right ?
You can trade how you want but trailing SL are for broker to hit... I never recommend!

If we have our SL at BE we have no risk, how do you believe we can take advantage of this??

Hold for lower and lower level, now like vlady1974 said we could go down to 1.20 so now with no risk how much would you make if we got down there???

Is that worth holding or taking 50-100 pips now!

Like I said earlier, once price has move you can add with the risk of the first trade this way we protect our accounts!

hope that helped

Its trading anything can happen!!
  • #7,604
  • Sep 8, 2014 9:25am Sep 8, 2014 9:25am
Quoting tbird2121
{quote} Thanks Josh. Just curious: we do not need to use trailing stop for this concept , right ?
I second Josh. Don't use Trailing Stops.

2942 is still the line in the sand today. We all know it's going lower so wait until it clears this price by at least 40-50 pips.
EU moves in 20 pip waves. 40 pips is a decent move. 120 ATR is therefore about 3 big moves of 4 moves of 30..... broad average.

So don't be too keen to move to BE especially in a consolidation period like now. The 15M is sideways, but finally breaking Support and Trendlines and is on the lower BB but not closed outside yet. In fact I don't want it to. I want it to revist 15M BB mid and fail... fail 2wice for all i care, cos that only means lower tomorrow.

Once it's away at least 12 pips , you can move to BE (if you really must) and sit back.
If you do move to BE within a 20 pip move, make sure you're ready to pounce at a better price on that retest.
A pip is only worth it if you know how much you risked to earn it
  • #7,605
  • Sep 8, 2014 9:30am Sep 8, 2014 9:30am
Quoting josh11
{quote} You can trade how you want but trailing SL are for broker to hit... I never recommend! If we have our SL at BE we have no risk, how do you believe we can take advantage of this?? Hold for lower and lower level, now like vlady1974 said we could go down to 1.20 so now with no risk how much would you make if we got down there??? Is that worth holding or taking 50-100 pips now! Like I said earlier, once price has move you can add with the risk of the first trade this way we protect our accounts! hope that helped Its trading anything can happen!!...
Quoting vlady1974
{quote} I second Josh. Don't use Trailing Stops. 2942 is still the line in the sand today. We all know it's going lower so wait until it clears this price by at least 40-50 pips. EU moves in 20 pip waves. 40 pips is a decent move. 120 ATR is therefore about 3 big moves of 4 moves of 30..... broad average. So don't be too keen to move to BE especially in a consolidation period like now. The 15M is sideways, but finally breaking Support and Trendlines and is on the lower BB but not closed outside yet. In fact I don't want it to. I want it to revist...
Thank you Josh & Vlady. Understood, will stay away from Trailing Stop.
  • #7,606
  • Sep 8, 2014 9:35am Sep 8, 2014 9:35am
[quote=Baillie;7722557]
Quoting scardi
{quote} {quote} At bar marked A there should have been a red spike down on the 1 hr chart, there was none; price could NOT continue down and produce a red spike on the 1 hr chart. Price would first have to climb up in order to produce the spike. EURUSDD said that the CI is the least used in the Similarity principle but I think it was abandoned too early in the thread, it has many good lessons left.
------------------------------
Hi Baillie, Thank you very much! Now I understand why price have to climb up. Best regards!
  • #7,607
  • Sep 8, 2014 9:57am Sep 8, 2014 9:57am
EURUSD entering range mode. guess bears will have to wait some more
  • #7,608
  • Edited 11:49am Sep 8, 2014 11:35am | Edited 11:49am
Quoting Baillie
{quote} At bar marked A there should have been a red spike down on the 1 hr chart, there was none; price could NOT continue down and produce a red spike on the 1 hr chart. Price would first have to climb up in order to produce the spike. EURUSDD said that the CI is the least used in the Similarity principle but I think it was abandoned too early in the thread, it has many good lessons left.
Thank you very much Baillie ... This is a great post !
  • #7,609
  • Sep 8, 2014 12:31pm Sep 8, 2014 12:31pm
Quoting tbird2121
{quote} {quote} Thank you Josh & Vlady. Understood, will stay away from Trailing Stop.
You can probably move stops to BE now, but watch for any retrace.
A pip is only worth it if you know how much you risked to earn it
  • #7,610
  • Sep 8, 2014 3:23pm Sep 8, 2014 3:23pm
Quoting josh11
{quote} I hope some of you listen I told you and area which was very strong and it only 6 pips!!
Well that Zone was strong

My SL's are now at BE

Best of luck guys
  • #7,611
  • Sep 8, 2014 3:37pm Sep 8, 2014 3:37pm
Quoting josh11
{quote} Well that Zone was strong My SL's are now at BE Best of luck guys
A pip is only worth it if you know how much you risked to earn it
  • #7,612
  • Sep 8, 2014 5:05pm Sep 8, 2014 5:05pm
Support Lines on my Weekly:

2741.5
2639.9
2464.5
2109.9

The obvious "popular" bounce is 2741 but 2639.9 could play a part, with a TrendCount of at least 70 to 100. If it did bounce with a trendcount of 70 then I would view this as potentially a Wave 4 correction, with a price projection at 1.3128 with a final Wave 5 price range beginning at 1.234 to 1.2110
A pip is only worth it if you know how much you risked to earn it
  • #7,613
  • Sep 8, 2014 7:12pm Sep 8, 2014 7:12pm
HELLO
i see that some of you guys are making their own trade call's without using eur/usd strategy
LET ME CORRECT THAT
we're not looking into the future on this thread!
we do not care what happen's tomorrow
we dont care if OBAMA get's sick
we have our window's
when price gets trapped in our window
WE TAKE ACTION (BALLS OUT) not for the fainth of heart
I ASSUME YOU DONT GET SCARED EASILY ,otherwise you woudn;t be trading FOREX
best indi that i ever learn't was that forex is not random
i know it sound's funny but all my friends were telling me that forex is like gambling
i never believed in that (THANK GOd FOR INDI:S and patience)
assumption is a mother of all F^#@*!s
NEVER STAND IN FRONT OF A RUNNING BEAR (COMMON SENSE)
some of you!
and i will not say their name's
cancelled their short's?
really?
NEVER STAND IN FRONT OF A RUNNING BEAR!
  • #7,614
  • Sep 8, 2014 7:19pm Sep 8, 2014 7:19pm
Quoting wireash
HELLO i see that some of you guys are making their own trade call's without using eur/usd strategy LET ME CORRECT THAT we're not looking into the future on this thread! we do not care what happen's tomorrow we dont care if OBAMA get's sick we have our window's when price gets trapped in our window WE TAKE ACTION (BALLS OUT) not for the fainth of heart I ASSUME YOU DONT GET SCARED EASILY ,otherwise you woudn;t be trading FOREX best indi that i ever learn't was that forex is not random i know it sound's funny but all my friends...
???

Firstly, there is no strategy. It's a bunch of principles from the very beginning.
Secondly, it's not your thread to correct. FF is a public forum. Anyone can post unless the op ignores them.

We can disagree, that's fine, but I will defend anyone from censorship.
As for those of us making calls.... well if you read our posts carefully today, we acknowledged how much of Eurusdd's principles we are using in our techniques.

Feel free to add to that discussion with your own analysis. Ranting doesn't do anyone any good.
So you're bearish. Great! Welcome to the club. I don't think anyone here is bullish. Some here are new and learning, some are not but want to understand DS or TZ. No need for unproductive criticism - provide some help, clues or answers.
A pip is only worth it if you know how much you risked to earn it
  • #7,615
  • Sep 8, 2014 7:29pm Sep 8, 2014 7:29pm
Quoting wireash
HELLO i see that some of you guys are making their own trade call's without using eur/usd strategy LET ME CORRECT THAT we're not looking into the future on this thread! we do not care what happen's tomorrow we dont care if OBAMA get's sick we have our window's when price gets trapped in our window WE TAKE ACTION (BALLS OUT) not for the fainth of heart I ASSUME YOU DONT GET SCARED EASILY ,otherwise you woudn;t be trading FOREX best indi that i ever learn't was that forex is not random i know it sound's funny but all my friends were telling me that...
You are right Wireash, we are not predicting the price (and this is more difficult, except we are really good), but we are waiting the price to come to us (yes, this is easier, and having bigger probability) ..... As Eurusdd always told us, do not forget 10 pips stop loss, we do not know exactly (100%) the market, but it has history and we can see what it will do (approximately) in a specified time and price (may be 70%-99%), there is still something can happen some day (1% is not 0%).
I think if we are standing behind an angry Bear, we take smaller risk compare to if we are standing if front of it. And standing in front of a calm Bull is also a bad idea at the moment. Just an idea.
Thanks
  • #7,616
  • Sep 8, 2014 7:31pm Sep 8, 2014 7:31pm
Quoting vlady1974
{quote} ??? Firstly, there is no strategy. It's a bunch of principles from the very beginning. Secondly, it's not your thread to correct. FF is a public forum. Anyone can post unless the op ignores them. We can disagree, that's fine, but I will defend anyone from censorship. As for those of us making calls.... well if you read our posts carefully today, we acknowledged how much of Eurusdd's principles we are using in our techniques. Feel free to add to that discussion with your own analysis. Ranting doesn't do anyone any good. So you're bearish....
Hi Vlady,
I think Wireash means some thing else ... ???
But i am agree with you, without making any mistake, we do not know the right thing. So, join the discussion is the only way to make our skill improved ...
I still need some time to correct some bugs of my codes, will join soon ...
  • #7,617
  • Sep 8, 2014 7:38pm Sep 8, 2014 7:38pm
Quoting vlady1974
{quote} ??? Firstly, there is no strategy. It's a bunch of principles from the very beginning. Secondly, it's not your thread to correct. FF is a public forum. Anyone can post unless the op ignores them. We can disagree, that's fine, but I will defend anyone from censorship. As for those of us making calls.... well if you read our posts carefully today, we acknowledged how much of Eurusdd's principles we are using in our techniques. Feel free to add to that discussion with your own analysis. Ranting doesn't do anyone any good. So you're bearish....
finally were getting somewhere
to answer your question:
I am providing good criticism
and actually i was talking about you:
you said you cancelled your short's
on eur/usd i will not look back to see where exactly it was last week (WELL YOU WERE WRONG) picking top's and bottom's that's a big NO NO
not to mention it has nothing to do with this thread
you just posted your resistance levels
according too?
support/resistance basic 101
once again
it has nothing to do with this thrad
were beyond that we look at $$$$ NotPIPS
  • #7,618
  • Sep 8, 2014 7:39pm Sep 8, 2014 7:39pm
Quoting wireash
some of you! and i will not say their name's cancelled their short's? really? NEVER STAND IN FRONT OF A RUNNING BEAR!
I can't for the life of me imagine why anyone would buy EU at a time like this.
  • #7,619
  • Sep 8, 2014 7:45pm Sep 8, 2014 7:45pm
Oyeeyeye ... more and more interesting, and some of us have a big improvement, congratulation. I think i got something too. I did not post for some days, but i read this great thread regularly, and made some changes needed to my algo. Thanks to Eurusdd and to you all that make this thread alive and giving more and more valuable stuffs. I am very sure that this concept is very profitable if we know how to apply it. I am agree with you all, EU is bearish. And may be NU too.....
  • #7,620
  • Sep 8, 2014 7:48pm Sep 8, 2014 7:48pm
Quoting wireash
{quote}actually i was talking about you: you said you cancelled your short's on eur/usd i will not look back to see where exactly it was last week (WELL YOU WERE WRONG)
well, if you were specifically talking about Vlady, i do believe you are a bit out of line! He has constantly posted a lot of short trades and closed most, if not all, in profit. And you can get trade direction right and still be wrong in the short term. There is nothing wrong with being 'wrong' in trading. It's part of the job. so to speak. Moreover the effort Vlady has put into helping out people here should be the minimum requirement for anyone else saying he is out of line. I don't think you meet those requirements. But that's just my opinion. Vlady has my utmost respect.
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