tony, i read you use 98% of your account per trade.
if that was a practical example of £100, does that mean you risk £98 per trade?
if that was a practical example of £100, does that mean you risk £98 per trade?
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Dislikedtony, i read you use 98% of your account per trade. if that was a practical example of £100, does that mean you risk £98 per trade?Ignored
Disliked{quote} 98% is right, on a 1:50 leverage meaning with a £100 account balance, I will risk £3, or £4 per trade only (with a 12 pip SL e.g.) to win approx: £13-15 per trade (with a 50-60 pip TP e.g.) I hope it clarifies. Let's not ''mount Everest'' the account now!Ignored
DislikedCould someone help me with this: From Tony's paper: "Limit-buy orders and limit-sell orders will be set before the news. A Limit-buy or Limit-sell has to be place 15 seconds before the news comes out. Settings: LB 7 pips above price, LS 7 pips below price." But buy limit order is set at the price lower than the current price, and sell limit order is set at the price higher than the current. -- Opposite what Tony says. Is it a typo or I do not understand something?Ignored
Disliked{quote} Hi Tony Thanks for updating the page. Does this system still work? What do you recommend for a charting program? MT4 doesn't have 5 secs chartsIgnored
DislikedSkyline Thanks for answering, I'll check out the Oanda accounts CheersIgnored
Disliked{quote} 98% is right, on a 1:50 leverage meaning with a £100 account balance, I will risk £3, or £4 per trade only (with a 12 pip SL e.g.) to win approx: £13-15 per trade (with a 50-60 pip TP e.g.) I hope it clarifies. Let's not ''mount Everest'' the account now!Ignored
DislikedTony, Since you mentioned that "News comes up 2 minutes in advance for Thomson Reuters subscribers" Why not we join force & subscribe Thomson Reuters news service" You can create a private forum, members interested share the subscription fee to get access to this CBBP private forum.Ignored
Disliked{quote} This is really the only area in this method of trading that I am having trouble wrapping my head around. If we always use 98% leverage NAV and have a typical SL of say 15 or 18 pips (unemployment/manufacturing PMI) and then add the spread for a total of 16 to 19 pips you are looking at risking somewhere between 5.9 and 6.9 percent of your account of those trades. For the press conferences and speeches (7 pip SL) you are looking at around 2.9 percent of your account at risk on those trades. My question is what is your plan when the account...Ignored
Disliked{quote} It sounds great and all but the news is still released at a certain time and at that second it skyrockets or crashes. So it wouldn't help us because of how we are trading the news. We wouldn't have time to place our trades by the time the market moves. Hope that helps ~DustinIgnored