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the way the big players trade? 47 replies
The Big Players 4 replies
I will very soon
I think that guys using this method wait for first +5 pip candle on 5 sec. chart after NY open.
Right now no one is using market opens as a entry point i think. Like i said, first +5 pip candle after open. So it can happen hour or two after open- during the most liquid hours.
But let's wait for Tony, i don't want to write untrue stuff.
Hi Tony, Nice of you to share your ideas. I am a price action trader,my system is similar to DanyUK (high TF trendline lover) I can't read all 450+ pages for your thread u accomplished..your first post said to move to page 180 and onwards to understand rules of the system. I read up to page 196, and still fail to see rules of system? can u briefly in a paragraph tell what exactly is/was... I've been following spot forex for 5 yrs and i tell you without doubt that 2012 market is NOT what 2010 market was...so i am sensing lot of people got burned...
i dont know what your exact rules are to be honest.
after reading the thread, rules seem to have changed so much.
are you saying that , at NY open say. you pull up a 5 sec chart at precisely 1pm (u.k. time for NY open, right ?).
the first 5 sec candle, you observe that candle. if that candle is say bullish, you immediately enter long. with a 2 pip stop. if the 5 sec candle is bearish then you immediately enter short with a 2 pip stop.
is this correct ?
my problem is how do you manage this in real time ? the 2 pip...
here I am again Saturday to a Sunday classic, bar, stripperss, casino, load of cash spending... I lost 4K$ at the casino progressively bettting on 2 numbers at the roulette took an hour to lose it .... lost the 4K$.... I said f it... I withdrew another 4K$ at the ATM, put it on black at the roulette again... went away from the roulette and told my friend to tell me what happened... at that time I was looking outside of the casino window wondering how the city is beautiful with the city lights, came...
hi here read my 2 previous posts.... I understand the market moves fast and that is why everytime I do a trade, it comes with an automatic SL.... IM looking for 5 pip candles , on the 5 second chart after the NY open, I refund all loses after a week so no matter what happens my account grows... I refund it and set my TP to 200 to 400 pips.... I will post a new page no.1 soon
Hey Tones, Thx for the reply. Good Stuff. I know living is a personal business, but i cant help but notice from your recent post that something is missing N i feel as if you are filling the vacuum by making unhealthy choices & finding excuses to basically lose all which you gained. I want you to check out this video which helped me change my perception on life http://www.youtube.com/watch?v=Cpc-t-Uwv1I
again,sorry if i am getting personal but i just can't see someone make bad choices n hurt themselves. feel free to PM me if you have...
sorry, but i thought the latest rule was that you only wait to see which way the market opens and then you enter in that direction ? rather than wait for a 5 sec, 5 pip candle, (which could in fact take several minutes or not materialise at all).
i thought the rule was changed to just entering in the market direction of the open ? please clarify.
also, can you (or someone else) confirm the actual times you trade the london open, and new york open based on LONDON U.K. time ?
btw, take it easy on your high life...
Thanks Tony. Take it easy don't party to hard we need your head in the game for this thread.
yes market opens work too ... the first page of rules tells you to do that..enter in the initial direction of the market. With recent lack of volatility, market opens were tending to whipsaw and stay flat... That's why I came back to basics, the basics that brought me up in this forex world.. Y
You have to look for a switch/increase of volatility during:
-First hours of a market open (NY or LO)
-During the ECB Press Conference
-I will post more occasions but generally during market opens is good
The most important thing...
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