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5 Seconds " L "

  • #161
  • May 14, 2009 7:43am May 14, 2009 7:43am
hey I just wanted to try 1 min chart because there isn't too much action out there... even with reports like unemployment claims that almost comes exact.... The thing is it takes a lot of patience. As for the TP you are referring to...it's really up to you... if you want to be more conservative you can use a smaller TP and you will get a better hit rate. Personally I like big # but it's really up to you. I figured the forum isn't that live because people simply like to program robots to do the work for them, which is not bad. But not suitable for this type of sniper trading style as you said. The entry is really the most important factor... and only a few rare opportunities present themselves. It could be frustrating to wait for them, but if you really want to succeed in this, it's only logical that it will take a lot of effort, as the reward is tremedous if success is obtained.
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  • #162
  • May 14, 2009 7:47am May 14, 2009 7:47am
Quoting hazel1919
Hi there,

Tony, do you trade off 5 second charts only... or have to changed to 1min also?

Personally, I have been trading 5 second charts exactly a per your setup on post 1... but then scapling a pip or or even a fraction of a pip... whatever the market delivers within 10/15 seconds... never letting my stop loss get below 2.5 pips. Guerilla style sniping if you get what I mean. If no profit is delivered with 15 seconds... just get out... it was not meant to be.

This is very safe trading. Three or four pips a day may not sound like much......
I replied below... with my other post... indeed, I don't think you can get safer than that lol. If I find another way I will sure share it.
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  • #163
  • May 14, 2009 8:32am May 14, 2009 8:32am
keeps getting better and better, too bad the week is getting close to an end
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  • #164
  • May 14, 2009 9:24am May 14, 2009 9:24am
this type of wma tangling with price action is useless with my system. I'm out for a few hours
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  • #165
  • May 15, 2009 1:08am May 15, 2009 1:08am
magnificent trades on magnificent news and magnificent ''L''s. Won't settle for nothing less. Let's risk 0.5 pips... should we?
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  • #166
  • May 15, 2009 1:13am May 15, 2009 1:13am
i'm thinking of trading some news... and starting to learn to trade the news... does anyone have a good technique? other than mine?
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  • #167
  • May 15, 2009 1:17am May 15, 2009 1:17am
admin, I don't mind if you move my thread to trading journals...
how do we contact admin?
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  • #168
  • May 15, 2009 1:43am May 15, 2009 1:43am
Quoting Tony112
i'm thinking of trading some news... and starting to learn to trade the news... does anyone have a good technique? other than mine?
Sure Tony - Flip a coin and if it comes up heads go long. Its the opposite for shorts, if the coin comes up tails - go short... It's amazingly acurate
Time hides Nothing
  • #169
  • May 15, 2009 1:53am May 15, 2009 1:53am
Quoting CindyXXXX
Sure Tony - Flip a coin and if it comes up heads go long. Its the opposite for shorts, if the coin comes up tails - go short... It's amazingly acurate

oh yea? what if the coin falls and stands up vertical.... and rolls out of your path? what's gonna happen then Cindy? you're going to lose money again

we have excellent teachers in here... that's why I wanted to move this thread in journals
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  • #170
  • May 15, 2009 2:10am May 15, 2009 2:10am
Quoting Tony112
oh yea? what if the coin falls and stands up vertical.... and rolls out of your path? what's gonna happen then Cindy? you're going to lose money again

we have excellent teachers in here... that's why I wanted to move this thread in journals
Well no system is 100% lol - Nice thread BTW I use a similar method on the 2m charts - Are you entering on the break of the retracement trend line or the break of the swing low?

I like te idea of the 5 second charts I might have to get ninja trader and test it...

I used to watch V hands 1 hour chart on fast forward and it becomes very easy to ride the momentum when you see the push in one direction then the pause at the top of a candle that tics up and down without murdering the first move then you clearly see the momentm kick in again and buy/sell and up/down it goes.

Very easy to see in fast forward - Not so easy in a normal speed market.

perhaps the 5 second chart is a much better visual of this I will have to test it. Cheers
Time hides Nothing
  • #171
  • May 15, 2009 3:29am May 15, 2009 3:29am
win some lose some... but let's try to win more than we lose
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  • #172
  • May 15, 2009 3:42am May 15, 2009 3:42am
I'm still using my Central Banks and Big Players Method profit on is for last week is 1.64% on 1300$. Haven't update thread.
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  • #173
  • May 15, 2009 3:47am May 15, 2009 3:47am
trade taken
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  • #174
  • May 15, 2009 3:48am May 15, 2009 3:48am
ok took about a dozen pips...
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  • #175
  • May 15, 2009 3:51am May 15, 2009 3:51am
Ok, for all of the people following the thread from time to time:

I will soon ask the thread to be moved to JOURNALS and will update the thread mostly for my personal follow up since I am now full time trading... another reason is that this thread doesn't have indicators and will never have some because it will simply not be as efficient.. it takes a human brain to succeed in this and this will stay my personal opinion, hence, you can follow my journey on the other side, when it will be moved, if you want to
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  • #176
  • May 15, 2009 4:21am May 15, 2009 4:21am
last trade taken
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  • #177
  • May 15, 2009 9:08am May 15, 2009 9:08am
Congratulations on a good method to safely trade; will have to try it.
Steve
  • #178
  • May 15, 2009 9:56am May 15, 2009 9:56am
thanks. safety before anything - in everything have a good week-end
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  • #179
  • May 16, 2009 2:01pm May 16, 2009 2:01pm
Tony,

I believe this thread has incredible practical value since the power of the pip is grossly overlooked by the majority of traders.

Attached please find my results of trading the "L" system for the last three weeks. Roughly 80 trades have yielded 27% profit. This was traded on a real live (albeit small) account.

That should be satisfactory by anyone's book. Like you, I keep a tight SL, but differ in that I grab the first profit that appears within 15 seconds.

Now that is the definition of scalping.

Since Tony initated this thread, I assume he has kept a regular journal (any trader worth his salt should). In this case, I am sure the other readers would love to see his results.

In fact, we would love to see the published results of any trader who has used the "L" - 5 second concept.

After all... the proof is in the pudding.
Attached File(s)
File Type: xls Copy of Daily_compounding_Results.xls   65 KB | 570 downloads
  • #180
  • May 16, 2009 4:29pm May 16, 2009 4:29pm
Quoting hazel1919
Tony,

I believe this thread has incredible practical value since the power of the pip is grossly overlooked by the majority of traders.

Attached please find my results of trading the "L" system for the last three weeks. Roughly 80 trades have yielded 27% profit. This was traded on a real live (albeit small) account.

That should be satisfactory by anyone's book. Like you, I keep a tight SL, but differ in that I grab the first profit that appears within 15 seconds.

Now that is the definition of scalping.

Since Tony initated this thread, I...

I will start posting my oanda statements soon looks very promising, you're very good. I will trade central banks system (journal) next week to see if I will obtain better results with my little modification in the system that I will post.
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