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Central Banks & Big Players

  • #161
  • Edited Apr 7, 2009 12:46am Apr 6, 2009 10:54pm | Edited Apr 7, 2009 12:46am
Tony, great thread. Why do you think this is where the central banks and big players making trades? just curious as i'm always interested in learning how those guys trade.

Also, better to use candlesticks or heiken aishi on this?
thx!
  • #162
  • Apr 7, 2009 2:18am Apr 7, 2009 2:18am
A quick trade on Cable.

It's nice to have the initial force in favor of your position. Even if the move doesn't continue, a small profit or loss is at least likely. Just some initial observations on the method but, looks good so far.


Also: Hope nobody cares that there's an indicator () on my chart. Just makes it easy to look for the 5 sec./5 pip bar.
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  • #163
  • Apr 7, 2009 2:39am Apr 7, 2009 2:39am
Quoting FXSurfer
A quick trade on Cable.

It's nice to have the initial force in favor of your position. Even if the move doesn't continue, a small profit or loss is at least likely. Just some initial observations on the method but, looks good so far.


Also: Hope nobody cares that there's an indicator () on my chart. Just makes it easy to look for the 5 sec./5 pip bar.
Putting the ATR indicator is intelligent.... I will test if it helps, don't let it prevent you from keeping an eye on the second and AS MUCH IMPORTANT FACTOR: the fast price action. You MUST keep an eye on the candlesticks FLYING FAST with a force of gravity. Once you have this force with you, by the time you sold/bought......the price has already gone behind. Very wise though. I will now pronounce a weight that I have lifted of my heart recently. The one thing I feel good about my trading improvement in forex is elimiating the stress, the fear and the incertitiude in my trading. I am no longer hoping these days. The Maximum STOP-LOSS I utlilise is 4 pips !!!!! I remember back in the days, putting 25, 50 pips STOP-LOSS --- HOPING AND PRAYING that the price doesn't eat me!!! and it always did! Did is so history and it takes such a weigh of my hearth... there's nothing better than to go to bed knowing that you risked 0-4 pips , hoping to win 100 pips.. just wanted to share that I will never ever ever risk more than 4 pips in a single trade in my life. That's my word and it feels good. Benefit from it.
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  • #164
  • Apr 7, 2009 2:44am Apr 7, 2009 2:44am
Patiently looking at the snake - spread is not that nice tonight .... 1.2
Invest in alarm clocks
  • #165
  • Apr 7, 2009 2:46am Apr 7, 2009 2:46am
People choose a TP OF AT LEAST 25 pips or more... it feels good to win
Invest in alarm clocks
  • #166
  • Apr 7, 2009 2:51am Apr 7, 2009 2:51am
Quoting Tony112
You MUST keep an eye on the candlesticks FLYING FAST with a force of gravity.
Yes, Tony. If I keep the ATR, as a tool, on the chart I'll probably use Ninja charts since you can set the indicator to plot from the beginning thru the close on the bar. Anyway, having the indicator on there isn't necessary or important. Just an idea to add convenience.

Quoting Tony112
I feel good about my trading improvement in forex is elimiating the stress, the fear and the incertitiude in my trading.
What an important milestone for you! Really great! What good is "success" in trading if it eats us up inside? I myself have a long way to go, I'm afraid, until I reach that point. Stress and fear still dominate my trading. Not all of the time but, lots of the time.

Good trading and Thanks Again for sharing, Tony!

Brent
  • #167
  • Apr 7, 2009 3:07am Apr 7, 2009 3:07am
Quoting FXSurfer
Yes, Tony. If I keep the ATR, as a tool, on the chart I'll probably use Ninja charts since you can set the indicator to plot from the beginning thru the close on the bar. Anyway, having the indicator on there isn't necessary or important. Just an idea to add convenience.



What an important milestone for you! Really great! What good is "success" in trading if it eats us up inside? I myself have a long way to go, I'm afraid, until I reach that point. Stress and fear still dominate my trading. Not all of the time but, lots of the time.

Good...

Thanks Brent. You have to have patience and only select a few entries per night... you have to feel good about every trade you take... even a losing one. Looking back at a particular trade, you must be able to pinpoint why you took it and why you entered ... even if you end up loosing 3-4 pips. It's always stressful to risk, specially if you're playing with big amounts but once you have the odds in your favor it's nothing but a matter of time and your account will grow. Myself, am not perfect and let frustrations sometimes guide me and make me take trades that I should not really take. But my account balance then quickly puts me back in place and disciplines me. Don't worry one day you'll have no more stress by knowing you tried your best... and knowing why you took every trade. One thing I must admit is that this is one of the biggest challenges I have ever taken in my life because forex is extremely complicated. Much success to everyone. Thanks for your thoughts Brent
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  • #168
  • Apr 7, 2009 3:19am Apr 7, 2009 3:19am
I find Tony's simple system one of the best in here because

1)Makes sound sense (breakouts)
2)Outstanding reward to risk (100 pips gained on a 4 pip stop !!)
3)Many opportunities as you're on the 5sec charts
4)No indicators for those of u who like pure pa

I myself am now practicing this I know it takes time and sore eyes but anything worthwhile achieving does

thanks Tony for your great contribution and encouragement

  • #169
  • Apr 7, 2009 3:25am Apr 7, 2009 3:25am
Yes!!! Remember that NOT ALL 5 pips candles will take you down or up to a 100 pips profit like I did today! some retrace as quickly as they came. People don't get discouraged by a 4 pips loss once in a while !!! sometimes I set TP FOR 200 PIPS!!! The best times are London and NY open ( my favorite ). Practice makes perfect. Keep on pressing on!!!!
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  • #170
  • Apr 7, 2009 3:30am Apr 7, 2009 3:30am
Volatility is very low tonight
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  • #171
  • Apr 7, 2009 3:38am Apr 7, 2009 3:38am
I should not enter on a 2 pip candle!!! but anyways... today was boring , that's why --- this one is going 9 pips as I'm talking, might TP for 25 pipss...
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  • #172
  • Apr 7, 2009 3:38am Apr 7, 2009 3:38am
15 pips already
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  • #173
  • Apr 7, 2009 3:39am Apr 7, 2009 3:39am
we broke a support I think
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  • #174
  • Apr 7, 2009 3:43am Apr 7, 2009 3:43am
just banked a quarter
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  • #175
  • Apr 7, 2009 3:48am Apr 7, 2009 3:48am
OUUUch it bite me!! does it hurt? NO no loss
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  • #176
  • Apr 7, 2009 3:51am Apr 7, 2009 3:51am
I feel like fighting with a cobra sometimes ouufff! need some sleep
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  • #177
  • Apr 7, 2009 3:53am Apr 7, 2009 3:53am
1.3325 seems a support too, watch out when it brakes
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  • #178
  • Apr 7, 2009 4:00am Apr 7, 2009 4:00am
ok I'm going to bed. I'll place 2 trades this morning at around 8 AM. 100 pips TP will be set again.... see you at 8 ! good profits don't act bad!
Invest in alarm clocks
  • #179
  • Apr 7, 2009 4:03am Apr 7, 2009 4:03am
Risk:
Quoting Tony112
OUUUch it bite me!! does it hurt? NO no loss
Reward:
Quoting Tony112
just banked a quarter
I'm noticing that the possibilities are pretty good for R/R. Good to have the force at your back. I think that with some practice...
  • #180
  • Apr 7, 2009 4:08am Apr 7, 2009 4:08am
Quoting Tony112
1.3325 seems a support too, watch out when it brakes
It did - while I was posting. LOL!
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