I limit my loss on each trade to a maximum 12 pips which takes me 9 pips past the level line. In this case the reversal looked quite strong which, at the time, supported this strategy. This works for me (although not in this case!!) as it avoids the ...

The System II (Yes with irony)

Out at 4537, -12 Re-entered @ 4518

The System II (Yes with irony)

Morning Bakuli, Also in...at 1.4525

The System II (Yes with irony)

Thanks for your earlier guidance (post 13145) and comments. You're right...it doesn't get any better than this. I think I'm starting to get the feel for this but will be sure to keep my humility in place for tomorrow and continue to respect the ...

The System II (Yes with irony)

My trades and I'm done for the day.

The System II (Yes with irony)

That's a great help Fx, much appreciated as always. A fair chunk of my query I guess stemmed from having done a number of trades recently that moved from c20 profit to BE or small loss without seeing a runner. As you say, it comes down to having a ...

The System II (Yes with irony)

Brilliant - thanks.

The System II (Yes with irony)

Many thanks Elizo. That makes sense given that the over-riding objective is to catch runners and, as you rightly pointed out, avoid getting a bad habit of banking sub 20 pips.

The System II (Yes with irony)

Hi Elizo, This is something I struggle with at double tops or bottoms. If the move is less than 20 pips, should I exit if price retracts from double bottom/top, take some profit then look to re-enter OR stick with the position and hold out for the ...

The System II (Yes with irony)

Holding my long from 4492 - painful but sticking with it Since closed at BE. Will re-enter on break of 4512

The System II (Yes with irony)

I wait for the candle to form to confirm the PA. However, I do get caught between two possible choices: 1) I have a 'free' trade so let the PA develop to see if it goes in my favour, or; 2) exit when the candle's formed and has failed to a LL. On ...

The System II (Yes with irony)

First trade of the day. Sell order at 1.4469, scratching my head on the buy side!

The System II (Yes with irony)

out at 4309

The System II (Yes with irony)

Short at 4313 and waiting to tackle the first hurdle.

The System II (Yes with irony)

Up to one hour pre major news, the market is just like any other time and I apply the usual tools to test it's direction. I don't know (can only wildly guess) what the news will say and therefore can't predict it's effect. Around major news it can ...

The System II (Yes with irony)

Hi rtx, I trust fx won't mind me responding as this type of query regularly crops up and I can see he's offline. In order to understand these terms you'll need to go way back into this thread and digest a lot of material to get the full meaning of ...

The System II (Yes with irony)

Trying to. It's either this or get hammered by the kids in a snowball fight! Took the long at 4330, just closed out at BE.

The System II (Yes with irony)

Great to see your charts and postings. Thanks.

The System II (Yes with irony)

Great post - particularly like replacing LOSS with TEST and the analogy about buying a ticket. I've finished trading for Christmas so I'll take this opportunity to wish you all a great Christmas and a healthy, wealthy and joyous New Year.

The System II (Yes with irony)

In my humble opinion you made a 100% correct play. Yes, it's annoying that it then bounced back but you had a free trade, stuck to the plan and will reap the reward in future.

The System II (Yes with irony)