I had some time this week end (rain, cancelled bbq, in between books to read…), so I will be quite prolific with my content. But first, some considerations. I am finding a bit tricky to manage this thread. Nothing to do with past and ...

The "You can't be serious" system

OK, last one, really. First, another example of "trader unhappiness syndrome". You are disappointed even if you got out at a profit. ADR. Personally, I do have a look at ADR for some ...

The "You can't be serious" system

nitethinker, your second set of charts, AUDJPY. Again, good stuff. This time I would have probably used the same stop loss you used. A few points to note. A strong momentum pushed the market down to S1 and carried it a bit beyond. Interesting how it ...

The "You can't be serious" system

Hi Nite. I was typing my comments while you posted the EU charts! So, you went for option 2. Very good. It is a prudent approach. The only thing I would be uncomfortable with is the stop loss. I understand, it is quite typical to be willing to ...

The "You can't be serious" system

Hi scsstnt Thank you for your reply. I am glad we clarified (most of) our misunderstandings and we are still friends. I am still unsure where you saw me calling people names or being nasty towards anyone or committing any form of abuse. I am ...

The "You can't be serious" system

Very good Mandariin. As you pointed out, the long was not triggered, and it was to be filtered as too close to PP anyway. As we hinted, the “NY open” usually brings some volume and activity. I would like to talk a bit about that short signal just ...

The "You can't be serious" system

Hi Pah. Thank you very much for your comments. I think they are insightful and more constructive than others. As an expert in the art of self-criticism, I do share many of the views you have put forward. If I may, I would like to dwell a bit on some ...

The "You can't be serious" system

Hi nitethinker (nice nickname! I have been one for some periods of my life) Thank you very much for your post. Here are my comments: Q1: Yes, it is valid. So, if we are in “short” mode (red histos), one can use PA to find entry opportunities. ...

The "You can't be serious" system

Mandariin. I am not saying that jumping on any system is a mistake. well, probably "jumping" is a mistake. But looking into ideas is a good thing. It is just that systems and ideas should not be taken at face value. A system is just a small ...

The "You can't be serious" system

Not much of a backlash, I see. I was expecting much more! However, I must really reply to you, scsstnt. To be quite frank, you were not among those I had in mind when I wrote what I wrote. I thought (still think) that you would be one of those who ...

The "You can't be serious" system

Rumours of my death have been greatly exaggerated. I am quite busy in other matters these days. Nevertheless, I noticed that I have not been missed much. Now, is it because I am a lousy ...

The "You can't be serious" system

Ah, what a day! First of all, let’s celebrate! We are trend followers/momentum and a bit Break out traders here. Today was largely our day! Do you want to bet on how many people will post HUGE profits, fantastic charts where nothing is wrong? How ...

The "You can't be serious" system

I’d like to make yet another point. Let’s abandon the SMS and look at the “manual” version of the strategy with the addition of some basic PA action. image So you have the buy signal and enter at A. Where do you place your stop? Well, we are all ...

The "You can't be serious" system

Now, let’s look at cable 15m. image This time the SMS would have been generous. It made you enter long before the big news, so you would not have had any slippage. And it never looked back after that. That is the money shot I would use to show how ...

The "You can't be serious" system

Today, I would like to talk about another one of my favorite topics: BIG NEWS DAY. Today there was the EU Monetary policy statement, the EU refinancing rate, Lagarde press conference and US CPIs (the latter are quite important in general, but they ...

The "You can't be serious" system

Yes, herewego, it is a very positive way to look at it. I like positive. Thank you.

The "You can't be serious" system

There is something else which is very interesting about BO (false or not) and it has to do with mechanical rules and eventually automation (yes, my favourite topic!)Let’s say that our set up for a BO is the violation of a significant ...

The "You can't be serious" system

Ah, the wonderful topic of false break-out! How could I possibly explain in a few words? We know I can’t and if I try I will rapidly become the most boring and least popular of all the posters ...

The "You can't be serious" system

Finally, we are back on red histograms: shorts only. The move down is the most assertive of the day, but the signals comes too late. It is true that the support is broken, but just below it there is S1. On a day where the range has been 40 points, ...

The "You can't be serious" system

Then the situation changes: the histograms become blue. Only longs are allowed. The first bar where the long signal appears, is way too close to the Daily Pivot. So it is not a good idea to enter there. Better to wait and see. The really aggressive ...

The "You can't be serious" system