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samir nazear Feb 15, 2010 7:16am | Post# 601

thank you all

lgtj Feb 15, 2010 8:53am | Post# 602

Live trades
 
4 Attachment(s)
Good morning everyone. I just want to post some more live trades to show how accurate and powerful this simple method really is. If you all will stick to the rules, you'll catch these trades. Thanks Tony.
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dean walker Feb 15, 2010 9:00am | Post# 603

nice system
 
Hi Tony,

Thank you for sharing your system with us.
A question I see some people are using different indicators. Which ones are the ones you are using.
Thank you
Dean

Indrek Feb 15, 2010 9:02am | Post# 604

Good morning everyone. I just want to post some more live trades to show how accurate and powerful this simple method really is. If you all will stick to rules, you'll catch these trades.
What is your SL/trailing policy? Tony is using trailing by last three candles that is awfully conservative, to my mind, and often ends with stopping out too early.

lgtj Feb 15, 2010 9:27am | Post# 605

What is your SL/trailing policy? Tony is using trailing by last three candles that is awfully conservative, to my mind, and often ends with stopping out too early.
Actually, I like Tony's trailing stop method on the 4hr chart, but I use my ATR in pips indicator value on the 4 hr chart to set my trailing stop to get to break even a.s.a.p. Once that value is reached and my trade is at break even, then I change my trail stop to the daily ATR in pips value. ATR in pips settings: periods 20, multiplier 1. I'm not posting my trail stop method to take away from Tony's method because this is his thread. If Tony would like for me to remove this post, then I'll do so.

jesperweber Feb 15, 2010 9:36am | Post# 606

Actually, I like Tony's trailing stop method on the 4hr chart, but I use my ATR in pips indicator value on the 4 hr chart to set my trailing stop to get to break even a.s.a.p. Once that value is reached and my trade is at break even, then I change my trail stop to the daily ATR in pips value. ATR in pips settings: periods 20, multiplier 1. I'm not posting my trail stop method to take away from Tony's method because this is his thread. If Tony would like for me to remove this post, then I'll do so.
Just keep in mind both of you, if you're trading this system you're trading the H4 charts -- so that's where you would normally set your stoploss...

j.

lgtj Feb 15, 2010 9:46am | Post# 607

Just keep in mind both of you, if you're trading this system you're trading the H4 charts -- so that's where you would normally set your stoploss...

j.
According to Tony's posts and video, his initial stop loss is set on the 30 min time frame. Once he set his stop to break even, then he trails his stop on the 4hr chart. I stated that my stop is on the 4 hr chart.

jesperweber Feb 15, 2010 9:50am | Post# 608

According to Tony's posts and video, his initial stop loss is set on the 30 min time frame. Once he set his stop to break even, then he trails his stop on the 4hr chart. I stated that my stop is on the 4 hr chart.
Of course

Please don't get me wrong. I'm not lecturing you or commenting your trades. Just sensed some confusion so was putting in a word of caution for all the participants here...

j.

tonyb123 Feb 15, 2010 10:06am | Post# 609

according to tony's posts and video, his initial stop loss is set on the 30 min time frame. Once he set his stop to break even, then he trails his stop on the 4hr chart. I stated that my stop is on the 4 hr chart.
yes this is correct. I do this because initially i am entering the trade with the biggest lot size then for every trade after (add on) i am scaling my position down. Now with the first add on signal and trade i take i am now moving my initial trade entry stop to the first add on signal stop. Hopefully it is better than break even at this point. Anyway, as the trade progresses i will use the add on stop rule and the 3 bar high/ low rule whichever i feel more comfortable with according to my risk. (continue in next post).

tonyb123 Feb 15, 2010 10:11am | Post# 610

I do this because if i do get stopped out on the 30 min chart but the trend on the 4 hour is still good i can get back into it. And when i get back in i will be using a whole lot size instead of the scaled down lot size. It is like i reset everything.

Xhandal Feb 15, 2010 10:16am | Post# 611

On AUD/USD after +30 pips I moved my stop at BE+1 then I got stopped some minutes ago. Today the market is very flat and slow probably because of US bank holiday, not a good day for trading I guess .

tonyb123 Feb 15, 2010 10:17am | Post# 612

example; initial trade= 1 whole lot, 1st add on= .75 lot size, 2nd add on= .50 lot size and so on... Then i get stopped out... The 4 hour trend is still good to go so i get another signal and i enter again this time with a whole lot size =1 whole lot, 1st add on= .75 and so on.... Until the 4 hour trend is no longer good!!! This is how you can maximize your profits and keep lowering your risk.. I hope this helps, tony

tonyb123 Feb 15, 2010 10:18am | Post# 613

Today is a holiday do not expect much

lgtj Feb 15, 2010 10:19am | Post# 614

Thanks for the further trail stop explanation. I'm really loving this system. Thanks for introducing it to us all.

Joeyd Feb 15, 2010 10:30am | Post# 615

I really can't get over what a truly common-sense method this is. Thanks much Tony.

Xhandal Feb 15, 2010 10:33am | Post# 616

I really like the combination of "move all stops to the new add-on stop" + "keep add but lower the lot size" . If something go wrong the previous trades cover very well the bad one .

tonyb123 Feb 15, 2010 10:57am | Post# 617

Thanks guys, i just want to help those struggling with making some money in the forex market and uncomplicate things. Keep it simple as possible is my motto.

Keith Feb 15, 2010 11:45am | Post# 618

Currency pairs to trade
 
Hello Tony,

I've seen this question around but can't find the appropriate answer so I'd like to hear from you.

What are currency pairs you are trading?

Thanks
Regards

Joeyd Feb 15, 2010 1:11pm | Post# 619

Keith,

In post#563, Tony makes mention of the pairs that he has removed and the one that he's added to his platform. When you watch the video, check the bottom of the screen for his currency pairs. Good luck.

Keith Feb 15, 2010 1:36pm | Post# 620

Thanks Joeyd,

That's what I did but one more question raised, what's the appropriate time should we watch for particular pairs e.g we just pay attention to signal of EURUSD during New Your session because we're monitoring about 14 pairs at the same time.

In my opinion, trade right time could eliminate some of false signals.

Thank you,
Regards,


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