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5 Seconds " L "

  • #101
  • May 4, 2009 5:21am May 4, 2009 5:21am
Quoting forexisfx
Hope u get ur million soon
thank you, I hope so too, it takes a lot of discipline ... my target is with a zero less.... the moment I reach I will call it success
Invest in alarm clocks
  • #102
  • May 4, 2009 5:49am May 4, 2009 5:49am
looks like its time to go to bed
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  • #103
  • May 4, 2009 6:14am May 4, 2009 6:14am
I have to announce that I took a devastating disastrous -1 PIP loss. This is it fellas for today.
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  • #104
  • May 4, 2009 6:55am May 4, 2009 6:55am
Hi Tony,
I like your strategy. Just a question: Doesn't Oanda prohibit this extra scalping?

Thanks

Brian
  • #105
  • May 4, 2009 7:41am May 4, 2009 7:41am
Quoting Briian
Hi Tony,
I like your strategy. Just a question: Doesn't Oanda prohibit this extra scalping?
Thanks
Brian

At least 3 people i know have said Oanda is fine with scalping, no complaints. I personally have used this and another method using 1 & 5 min bars, and with just 2 clicks of the mouse you can set a sell or buy stop almost immediately. Very seldom have I seen a 're-quote' or any other 'delay' tactic practiced by many other so-called 'brokers'

Steve
  • #106
  • May 4, 2009 9:40am May 4, 2009 9:40am
Quoting Briian
Hi Tony,
I like your strategy. Just a question: Doesn't Oanda prohibit this extra scalping?

Thanks

Brian
Well Brian, at the moment my average tp is 20+ pips. Sometimes I go for 100 TP. If this is scalping, it's a brand new form of big chunk scalping...Some of my trades last hours and dosens of minutes. It does happen that I lose a few pips - max. (5). And this is something that will occur as my one and only indicator is a 150WMA on oanda. If they want, they can ''re-quote'' their quote and substract 3 pips instead of 2 to my account.... or let's say 4 pips instead of 3... but in the end, I'll always set those TP targets to 20-30-40-100 pips and by entering at the good moment...it's priceless. Eveything done here and showed here is just sweet and simple so why should it be prohibited... don't they make money on my account too?
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  • #107
  • May 4, 2009 10:00am May 4, 2009 10:00am
Quoting Briian
Hi Tony,
I like your strategy. Just a question: Doesn't Oanda prohibit this extra scalping?

Thanks

Brian

The best answer that I could give regarding to that is that I have several times confirmed with Oanda that by this definition ''scalping'' is allowed. As long as there is no use of ''latency trading'' with a faster price ticker.... which is NOT the case in my trading. After all.. aren't they the ones that programmed a 5 sec. chart on their platform? Don't worry about it Brian if you want to try it, as long as you don't ''latency trade'' lol (which is ''lame'' trading''.
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  • #108
  • May 4, 2009 1:09pm May 4, 2009 1:09pm
Great thread you've got right here, Just testing out the method on RBS marketindex (a broker who license Oanda's platform) and it's really rekindling my love with the Oanda platform, So much better than any of this metatrader nonsense. It's definately a cracker of a trading method. I'm sure it's gonna win you the trading room of your dreams.
  • #109
  • May 4, 2009 1:25pm May 4, 2009 1:25pm
Tony, nice thread.
Btw, someone told me Oanda told him, if he has a lot of positions that don't last at least five minutes, he will be considered a scalper. Just FYI.
But I guess as long as you don't play 15 full lots for 1.5 pips profit, they don't care. Just make sure you don't win too much

Quoting Tony112
Well Brian, at the moment my average tp is 20+ pips. Sometimes I go for 100 TP. If this is scalping, it's a brand new form of big chunk scalping...Some of my trades last hours and dosens of minutes. It does happen that I lose a few pips - max. (5). And this is something that will occur as my one and only indicator is a 150WMA on oanda. If they want, they can ''re-quote'' their quote and substract 3 pips instead of 2 to my account.... or let's say 4 pips instead of 3... but in the end, I'll always set those TP targets to 20-30-40-100 pips and by...
forget about tomorrow, just steal away into the night
  • #110
  • May 4, 2009 2:36pm May 4, 2009 2:36pm
Thanks for the answers!
The question is: what is the definition of scalping.
After all Oanda can refer to anything if you are unwanted...
Keep the good work!
  • #111
  • May 4, 2009 6:04pm May 4, 2009 6:04pm
Thanks so much for posting your trading system! It seems really simple, which is great. I'm excited to forward test your system. Do you have a specific exit strategy? About how many pips do you make a day with a 3/4 pip stop loss?

Thanks again! I hope to contribute to the thread as much as possible.

Cory
  • #112
  • May 4, 2009 7:42pm May 4, 2009 7:42pm
Quoting spekitox
Tony, nice thread.
Btw, someone told me Oanda told him, if he has a lot of positions that don't last at least five minutes, he will be considered a scalper. Just FYI.
But I guess as long as you don't play 15 full lots for 1.5 pips profit, they don't care. Just make sure you don't win too much

scalping is ok: meaning very short term trading.
now I never take a 1.5 profit. My minimum TP will soon be 20 pips.
Never had no one complain yet. They told me latency trading is not permitted, scalping is permitted and it was said by a representative of Oanda
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  • #113
  • May 4, 2009 7:45pm May 4, 2009 7:45pm
Quoting Cbh123
Thanks so much for posting your trading system! It seems really simple, which is great. I'm excited to forward test your system. Do you have a specific exit strategy? About how many pips do you make a day with a 3/4 pip stop loss?

Thanks again! I hope to contribute to the thread as much as possible.

Cory
It really depends of the market... a market that is going on a downtrend can easily win more than 50 pips per evening as there is many opportunities of entry. Some nights, I have only 15 pips, some I lose about 7 pips or so... it depends...
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  • #114
  • May 4, 2009 7:55pm May 4, 2009 7:55pm
Quoting georgecotton
Great thread you've got right here, Just testing out the method on RBS marketindex (a broker who license Oanda's platform) and it's really rekindling my love with the Oanda platform, So much better than any of this metatrader nonsense. It's definately a cracker of a trading method. I'm sure it's gonna win you the trading room of your dreams.

hope so...thanks 4 the support, I'll keep updating till I go broke
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  • #115
  • May 4, 2009 8:04pm May 4, 2009 8:04pm
OK my working day starts now at 9:00 pm NY time until probably 9 am NY time tomorrow. Let's patiently wait for high volatility that will be proven on the 5 sec chart by our WMA 150. The only other possible entries will be on round # breakouts and not all of them.
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  • #116
  • May 4, 2009 10:21pm May 4, 2009 10:21pm
the spread is big tonight on Oanda...I hope it will return to 0.9 for eu
  • #117
  • May 4, 2009 10:42pm May 4, 2009 10:42pm
Quoting gambler997
the spread is big tonight on Oanda...I hope it will return to 0.9 for eu

1.7 is a massive spread
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  • #118
  • May 4, 2009 10:44pm May 4, 2009 10:44pm
Quoting Tony112
1.7 is a massive spread
for scalping yep
  • #119
  • May 4, 2009 10:47pm May 4, 2009 10:47pm
I missed this while talking to a woman. Not very professional for someone that left work yesterday. Anyways like we said the spread is big now.
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  • #120
  • May 4, 2009 10:51pm May 4, 2009 10:51pm
Quoting gambler997
for scalping yep
Pretty soon we won't be albe to call this system scalping because the minimum TP will be 20-100 pips. It's only the SP that will be very tight: 0-3 pips. This will be short term trading. Scalping is more like taking 3-5 pips profit which I'm not interested in.
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