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5 Seconds " L "

  • #1
  • First Post: Edited May 16, 2009 4:54pm Apr 20, 2009 3:43am | Edited May 16, 2009 4:54pm
HI EVERYONE,
I HAVE MOVED MY THREAD TO JOURNALS for 2 reasons. I do this to keep track of my trading and I don't permit indicators/EA to trade for me
Still, Feel free to follow and comment


This is my new system. It requires patience and practice to recognize. Stop-Loss should be placed at "0" as soon as price falls a few pips to minimize or "eliminate" losses. I will update with every trade I take (win or lose).
Let's make it. EUR/USD TRADED ONLY
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Invest in alarm clocks
  • #2
  • Apr 20, 2009 4:08am Apr 20, 2009 4:08am
Possible entry missed
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Invest in alarm clocks
  • #3
  • Apr 20, 2009 4:13am Apr 20, 2009 4:13am
One promise I have to make is that my SP will never exceed 5 pips for the rest of my trading days. Max TP may be changed.
Invest in alarm clocks
  • #4
  • Apr 20, 2009 4:16am Apr 20, 2009 4:16am
Flat WMA = no trading = no volatility
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Invest in alarm clocks
  • #5
  • Apr 20, 2009 4:36am Apr 20, 2009 4:36am
THIS is more of a Centra-Banks&Big Players entry method... guaranteed NO LOSS is set here
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Invest in alarm clocks
  • #6
  • Apr 20, 2009 6:49am Apr 20, 2009 6:49am
Very interesting Tony, I use the same concept on the 5min chart, by entering the breakout afetr a pullback (the concept of The SystemII http://www.forexfactory.com/showthread.php?t=80290).
Your L formation also reminds me of the flags formation a bit. It all makes sense, only prob is my 2pips spread on EU, but I will watch the 5sec and your thread closely.
  • #7
  • Apr 20, 2009 12:27pm Apr 20, 2009 12:27pm
Interesting system tony, thanks for posting it up. Do you trade the open London session and NY session?
  • #8
  • Apr 20, 2009 2:03pm Apr 20, 2009 2:03pm
Hi Tony, Is this possible on MT4? If yes, how? I love to see new things. Thanks. Nerry.
  • #9
  • Apr 20, 2009 3:41pm Apr 20, 2009 3:41pm
hi tony,

i use a similar system on the 30 seconds-chart. how big is your spread on EU?
  • #10
  • Apr 20, 2009 8:13pm Apr 20, 2009 8:13pm
Quoting ashur123
Interesting system tony, thanks for posting it up. Do you trade the open London session and NY session?

My pleasure... of course London and NY open makes things move... that's the only time I trade, with big volatility... WMA150 on a 5 sec chart confirms volatility when price diverges far away from it
Invest in alarm clocks
  • #11
  • Apr 20, 2009 8:23pm Apr 20, 2009 8:23pm
Quoting NerryE
Hi Tony, Is this possible on MT4? If yes, how? I love to see new things. Thanks. Nerry.
Hi, I don't know I stare at the screen all night... I like to have my brain and hands on this...
Invest in alarm clocks
  • #12
  • Apr 20, 2009 8:25pm Apr 20, 2009 8:25pm
Quoting fxbrain
hi tony,

i use a similar system on the 30 seconds-chart. how big is your spread on EU?
My spread is 0.9.... 30 sec is good but I like to watch the price action power on the smallest time-frame to optimize entry and almost eliminate my losses...
Invest in alarm clocks
  • #13
  • Apr 20, 2009 10:20pm Apr 20, 2009 10:20pm
currently, the WMA is hugging and tangling with the price. There's no trading to be done here...
Invest in alarm clocks
  • #14
  • Apr 20, 2009 11:06pm Apr 20, 2009 11:06pm
Quoting Tony112
currently, the WMA is hugging and tangling with the price. There's no trading to be done here...
Hey Tony.
So you trade the 5-second chart yes?
How bout' you don't cherry pick the trades and show us some losses.
Dan.
Request custom Expert Advisor or Indicator: dostapyuk "at" gmail . com
  • #15
  • Apr 20, 2009 11:07pm Apr 20, 2009 11:07pm
Tony,
Also, like 80% of the people here have MetaTrader4, which don't allow 5-second charts. Could this work on other timeframes?
Dan.
Request custom Expert Advisor or Indicator: dostapyuk "at" gmail . com
  • #16
  • Apr 20, 2009 11:08pm Apr 20, 2009 11:08pm
Quoting Tony112
Flat WMA = no trading = no volatility
When exactly do you consider the market to have "no volatility"? I mean, when not looking at the chart in backtesting, but I mean in forward testing, if you know what I mean.
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  • #17
  • Apr 20, 2009 11:12pm Apr 20, 2009 11:12pm
5 seconds charts and 0.9 pips spread ?? what broker is that ?
  • #18
  • Apr 20, 2009 11:12pm Apr 20, 2009 11:12pm
go to ninjatrader.com free charts all the way down to 1 sec.
Enter Signature
  • #19
  • Apr 20, 2009 11:16pm Apr 20, 2009 11:16pm
Quoting Benjie
5 seconds charts and 0.9 pips spread ?? what broker is that ?
He uses Oanda.
  • #20
  • Apr 20, 2009 11:20pm Apr 20, 2009 11:20pm
Quoting Benjie
5 seconds charts and 0.9 pips spread ?? what broker is that ?
I have fxPRO, and it's very low spread!
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