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5 Seconds " L "

  • #201
  • May 24, 2009 5:11pm May 24, 2009 5:11pm
hun%?@#?
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  • #202
  • May 24, 2009 8:26pm May 24, 2009 8:26pm
a
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  • #203
  • May 25, 2009 5:35am May 25, 2009 5:35am
Hi Tony !

First of all I like your pure style of trading
I'm in a situation to build up my account to a such a level that
I can buy the ticket to a pro broker.

I'm coming from a low level and what I have learned during that time
is not to give up and have a real dream..

Focussing, discipline and good money management are the main tools
you have to use.

Tony I have the following questions :

1. What leverage are you using (amount per pip) ?
2. What about entering a trade on the 5 sec chart when price rises above
or falls below the 150 WMA ?
You can add a 2 SMA and trade the cross.
3. I'm doing this with a 200 SMA and 2 SMMA and it works well for me
on a 5 min chart.

Anyway keep up your good work and good luck for reaching your dreams

Bernhard
  • #204
  • May 25, 2009 2:37pm May 25, 2009 2:37pm
Don't blame yourself for todays losses, remember today was a bank holiday for the brits and the yanks so there was a lot less volume/liquidity and volatility so systems often don't work as well on bank holidays.

Just a bit of food for thought.
  • #205
  • May 25, 2009 8:28pm May 25, 2009 8:28pm
Quoting georgecotton
Don't blame yourself for todays losses, remember today was a bank holiday for the brits and the yanks so there was a lot less volume/liquidity and volatility so systems often don't work as well on bank holidays.

Just a bit of food for thought.
thanks for all the positive thoughts, gotta stick to the plan
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  • #206
  • May 25, 2009 8:31pm May 25, 2009 8:31pm
Quoting behof
Hi Tony !

First of all I like your pure style of trading
I'm in a situation to build up my account to a such a level that
I can buy the ticket to a pro broker.

I'm coming from a low level and what I have learned during that time
is not to give up and have a real dream..

Focussing, discipline and good money management are the main tools
you have to use.

Tony I have the following questions :

1. What leverage are you using (amount per pip) ?
2. What about entering a trade on the 5 sec chart when price rises above...
its so important to have dreams... and a true passion ...

1. leverage 1:50
2. when price rises, it's not the same in EUR/USD.. from experience...the 2 sma could be helpful..but I learned to use the less indicators possible...look at my other thread which is in systems.... CENTRAL BANKS AND BIG PLAYERS... this one has no indicator most of the time these days,... indicators are history and past
3. if you can succeed on a bigger time frame, it's good for you...make sure you keep up

thanks for the motivation
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  • #207
  • May 25, 2009 10:21pm May 25, 2009 10:21pm
Hi Tony and thanks for sharing your method, I realy like the style of cutting those losses into 0 or small pip counts.

I do have some questions, I noticed in your other thread you mentioned that the hit rate was around 85 to 90% and was wondering why you would want to change your style.
I have not completed reading this thread yet but have seen you quoting the same sort of results again.
I just have this old saying in the back of my head, if it isn't broken don't fix.

Thanks again and will be watching the 5 sec chart with great interest.
  • #208
  • May 26, 2009 12:33am May 26, 2009 12:33am
beautiful girly chart.. let's risk a pip for this one. i will never give up
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  • #209
  • May 26, 2009 12:35am May 26, 2009 12:35am
Quoting DannyW
Hi Tony and thanks for sharing your method, I realy like the style of cutting those losses into 0 or small pip counts.

I do have some questions, I noticed in your other thread you mentioned that the hit rate was around 85 to 90% and was wondering why you would want to change your style.
I have not completed reading this thread yet but have seen you quoting the same sort of results again.
I just have this old saying in the back of my head, if it isn't broken don't fix.

Thanks again and will be watching the 5 sec chart with great interest.
I keep on trying new things and that's the no.1 reason why I sometimes reduce my account... by trying to trade all sorts of other methods. I should only patiently wait for my only setup... it takes patience on the 5 sec chart but it's worth it.
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  • #210
  • May 26, 2009 12:47am May 26, 2009 12:47am
I learned to discipline myself by asking myself one question before I trade. I would risk 45$ for 5 pips. Would I risk 450$ on the same trade? if the answers stays yes, I would go for it, if not, no trading.
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  • #211
  • May 26, 2009 1:04am May 26, 2009 1:04am
LOSS- cause: impatience for higher volatility consequence: pay
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  • #212
  • May 29, 2009 10:26am May 29, 2009 10:26am
some volatility today
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  • #213
  • May 29, 2009 10:40am May 29, 2009 10:40am
it's nice how history repeats itself...
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  • #214
  • May 30, 2009 9:21am May 30, 2009 9:21am
Hi Tony,
Thanks for your interesting thread. I so something similar on the 10M chart to what you are doing on the 5sec chart. I watch the "L" form and trade the part that turns the "L" into an "N", and always with a defined trend. Thanks for your work/effort to share this information and I hope you make enough money to afford a small island and retire early.
GEfx
  • #215
  • May 30, 2009 8:16pm May 30, 2009 8:16pm
Quoting GEfx
Hi Tony,
Thanks for your interesting thread. I so something similar on the 10M chart to what you are doing on the 5sec chart. I watch the "L" form and trade the part that turns the "L" into an "N", and always with a defined trend. Thanks for your work/effort to share this information and I hope you make enough money to afford a small island and retire early.
GEfx

Thanks for the motivation. I'm definitely trying hard. Next month I'll be depositing a huge amount to trade with since my medium trading account has been growing. On Friday I went to my local National Bank and the guy next to me deposited 2 MILLION in front of my face. No kidding. I spent a minute to talk with him, he was very discreet. Right now, the only way to come up with something similar is forex, I see no other choice. If anyone want an inspiration here is what the dude said to me: "It's only by working hard that you will succeed".
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  • #216
  • May 31, 2009 6:30am May 31, 2009 6:30am
I think you are right about the forex. Problem is, in a few years, I might need $2 million to buy a cup of coffee here in the US. BYW, I am a big fan of trading the Loonie.
  • #217
  • May 31, 2009 6:59am May 31, 2009 6:59am
Quoting Tony112
Thanks for the motivation. I'm definitely trying hard. Next month I'll be depositing a huge amount to trade with since my medium trading account has been growing. On Friday I went to my local National Bank and the guy next to me deposited 2 MILLION in front of my face. No kidding. I spent a minute to talk with him, he was very discreet. Right now, the only way to come up with something similar is forex, I see no other choice. If anyone want an inspiration here is what the dude said to me: "It's only by working hard that you will succeed".
Good stuff Tony... only by couragous real-money trading will your account grow. This is what seperates the wannabees with the doers.

I am intrigued though... taking a 2/3 pip loss versus a 20/40 pip win. Based on your trading history, could you give us a rough idea of how many winning-versus-losing trades you have on record. I guess they call it your win/loss ratio.

If, for example you did 100 trades. 70 of them lost 3 pips (-210) and 30 won 10 pips (+300) you would have a net pip gain of +90 pips. Not bad in any book.

At any rate, some idea of how you are clipping along would give the rest of us a sense of proportion and an idea of what the system is capable of.

Many thanks,


Tim.
  • #218
  • May 31, 2009 10:36am May 31, 2009 10:36am
Quoting hazel1919
Good stuff Tony... only by couragous real-money trading will your account grow. This is what seperates the wannabees with the doers.

I am intrigued though... taking a 2/3 pip loss versus a 20/40 pip win. Based on your trading history, could you give us a rough idea of how many winning-versus-losing trades you have on record. I guess they call it your win/loss ratio.

If, for example you did 100 trades. 70 of them lost 3 pips (-210) and 30 won 10 pips (+300) you would have a net pip gain of +90 pips. Not bad in any book.

At any rate, some idea...

Hi Tim, let me put it that way: I am a lazy person sometimes and also a risk taker. Two things, when I am disciplined with a huge account, I make it grow. Once I have profit, I tend to risk more and do anything... then I start loosing a bit... If I stick to the plan and do my trading only when I have to. I am sure my account will always grow. In the past week, I lost money. Not because my trading is bad, it's because I don't wait for the right times. As for stats, you have to remember one important factor. Out of 100 trades... 50 trades of mine will have a 0 PIPS STOP LOSS! which makes the system successful! For sure some of them will lose.... but as soon as I gain a few pips... I put a 0 stop-loss. If I don't get a chance to... I will lose max 4-5 pips that's it... but for stats... I am really unorganized... the only way I keep track is with my account. I know that I doubled an account very quick 2 months ago... after... I stated playing other stuff again trying new stuff and getting impatient... now I'm coming back with a bigger account, hopefully the discipline will kick in with bigger numbers, as you said. Don't trade with game accounts people... even if you have to trade on 100$ just do it real money... you will still care when you lose 1$ and that will make you better and more disciplined!))
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  • #219
  • May 31, 2009 9:27pm May 31, 2009 9:27pm
news trades can be traded with L method... this week will be dedicated to only L method
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  • #220
  • Jun 1, 2009 1:38am Jun 1, 2009 1:38am
first trade taken
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