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5 Seconds " L "

  • #221
  • Jun 1, 2009 4:23am Jun 1, 2009 4:23am
2nd trade taken
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  • #222
  • Jun 2, 2009 8:13am Jun 2, 2009 8:13am
that's nasty
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  • #223
  • Jun 8, 2009 9:59am Jun 8, 2009 9:59am
Excellent system Tony...not much posting going on...hope you are still active in this forum.

Question: I use Oanda as well, and like to know how do you get your 5pips interval on the chart.

Do you trade only on openning hour during London and NY: just the first hour?

Thanks.
  • #224
  • Jun 9, 2009 3:56am Jun 9, 2009 3:56am
Tony... (and others watching this forum)

I have increased my small live account up by 48% in six weeks using the "L" system exclusively. The only difference between me and Tony is that I snipe the first pip(ettes) that fall into the bag the moment they appear. I commit 98% of funds to each trade and set my Oanda leverage at 50:1. I aim for 3 pips a day.

The result is a steady equity climb.


Quoting Tony112
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...
  • #225
  • Jun 9, 2009 4:00am Jun 9, 2009 4:00am
Worst thing you can do in trading is "chariot swapping." ie swapping... altering or tinkering with a system in mid-stream.

It is the quickest way to destroy the psyke... Just stick with one method until you have proven over time that it either yields or loses consistently.

Just as a sailor or pilot has to keep a log book... so too the trader has to log his journey. No log = no progress. How can one post results without a journal?
  • #226
  • Jun 9, 2009 12:37pm Jun 9, 2009 12:37pm
Quoting hazel1919
Tony... (and others watching this forum)

I have increased my small live account up by 48% in six weeks using the "L" system exclusively. The only difference between me and Tony is that I snipe the first pip(ettes) that fall into the bag the moment they appear. I commit 98% of funds to each trade and set my Oanda leverage at 50:1. I aim for 3 pips a day.

The result is a steady equity climb.
Hazel, What's your s/l ?
thx
  • #227
  • Jun 10, 2009 1:30pm Jun 10, 2009 1:30pm
I set my stop loss manually at -3 pips.

I have been stomped out many times at -3... which has simply forced me to revisit my entries.... to seek to exterminate impatience... mirages... overconfidence... gilding the lilly... chariot swapping and all the other devils that impede a good entry.

Sorry folks... there is no short-cut.

The market is a cruel master.
  • #228
  • Jun 10, 2009 10:10pm Jun 10, 2009 10:10pm
Quoting hazel1919
I set my stop loss manually at -3 pips.

I have been stomped out many times at -3... which has simply forced me to revisit my entries.... to seek to exterminate impatience... mirages... overconfidence... gilding the lilly... chariot swapping and all the other devils that impede a good entry.

Sorry folks... there is no short-cut.

The market is a cruel master.
so its -3 s/l and tp as soon as its in + territory within about 15sec or so,thats what you been doing?
  • #229
  • Jun 10, 2009 11:27pm Jun 10, 2009 11:27pm
guys, I haven't had time to update since I trade while traveling

I want to ask your opinion. What do you guys think about placing a trade (3 pips stop loss) at London Open and New York open. Take profit is 15-30 pips.

I've been trading from a portable device for a week and profits are rolling. Maybe I can come up with another system with this. I want to know your opinions... NY & London open guaranty volatility and that's why I made the profit.... will update you on that. Let me know what you think until I come back. Best regards. Tony

p.s. the trade is placed at 8:00:05 EST TIME or 3:00:05 EST TIME.... just when you see the price going in a direction.... could anyone make a backtest on this with EUR/USD?
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  • #230
  • Jun 11, 2009 1:13am Jun 11, 2009 1:13am
friends please look at this Frankfurt open... and tell me what you think... I am open to all suggestions and I'm thinking of starting a thread for it to.. or a journal.. while doing my L technique
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  • #231
  • Jun 11, 2009 4:27pm Jun 11, 2009 4:27pm
hello Tony

please tell me how to avoid range market?
LAST 2 weeks i had 100 pips with your system


all was looking perfect

but 2daY i lost my profit on NY OPEN


I MUST LOOK ABOUT SLOW MARKET AND SMALL BODIES?
  • #232
  • Jun 15, 2009 2:23am Jun 15, 2009 2:23am
monday
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  • #233
  • Jun 18, 2009 8:26am Jun 18, 2009 8:26am
going thru some really hard times but still trading. keep ya head up
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  • #234
  • Jun 20, 2009 2:13pm Jun 20, 2009 2:13pm
Tony, are you trading nights still? I know you did before.

then how do you feel during a day after trading at night? sleepy or headache?

Thanks and good luck.
  • #235
  • Jun 20, 2009 7:51pm Jun 20, 2009 7:51pm
I think I got used to it... I sleep during the day... and try to sleep at least 5 hours.. but nowadays, I know I ruining my heath... that's why I try to eat better... but all that sleep loss has it's effects on me... and probably some health effects will (or hopefully will not) come after....LOL That's why I quit my day job... now it's even worse... I wake up on news events
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  • #236
  • Jul 6, 2009 11:50pm Jul 6, 2009 11:50pm
yesterday, I was asking myself.... how many times am I gonna see this situation during my lifetime ...
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  • #237
  • Jul 7, 2009 7:12am Jul 7, 2009 7:12am
Tony, how is your trading?

better.... the same?

what did you learn ?
  • #238
  • Jul 8, 2009 7:44pm Jul 8, 2009 7:44pm
Quoting ForexSV
Tony, how is your trading?

better.... the same?

what did you learn ?
Trading and learning is progressive... ideas are coming but easily wiped out. The best techniques still remain my L technique and the central banks trading method...Anyone that was following USD/JPY today the 8th of july would agree. lol... I was away of course, I trade during the night, surprising indeed... the movement we had
Invest in alarm clocks
  • #239
  • Jul 8, 2009 9:16pm Jul 8, 2009 9:16pm
Tony if you want a copy of it email me. basically its an alarm that will go off when the criteria are met on you r system. Its adjustable too so that you can change the pip and time intervals. It will be ready friday so just email me and I will give it to you. [email protected].

Ninjatrader is free so dont worry about the cost.
  • #240
  • Jul 9, 2009 2:24am Jul 9, 2009 2:24am
I believe that to be a successful trader, you have to become a FULL-TIME trader. And a determined player in this. 100% of your main occupation should be trading... there's no compromise that this game will make for you nor wait for you. I missed the USD JPY today and am still thinking about it.
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