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  • #701
  • Oct 20, 2009 5:51am Oct 20, 2009 5:51am
Quoting tony112
the market is quiet now keep an eye on the first sign it will give us gbp has created a triangle and will break off soon
i was thinking about trading those 5/6 candels with a 1pip tp ,because we get a lot of those,what do u think about that
  • #702
  • Oct 20, 2009 8:57am Oct 20, 2009 8:57am
http://img7.imageshack.us/img7/7102/ex10k.th.gif

Missed this one.
  • #703
  • Oct 20, 2009 9:21am Oct 20, 2009 9:21am
Quoting stinger88
Its all relative to the price action going on at the time. If its dead quiet and you see a big move but the candle stick it less than 10 pips, its probably ok. You want to wait for at least 10 pips is when there is a lot of action going on, i.e just before the some bigs news, you may see plenty of 5-8 pip candles and choppy action. Avoid these.

Oh I see okay, thanks for your help stinger
  • #704
  • Oct 20, 2009 6:53pm Oct 20, 2009 6:53pm
Quoting stinger88
I'm using quote tracker. I don't pay for it. The data feed is free if you have an IB account. The spread for EU is about .5 - 1 on average. EUJ is .5 -1.5 on average. IB is transparent. They do not earn commission on spread so you get lowest spreads possible.

Stringer88 Hi.

how much they charge for in and out on 1 lot.

Thank you.
  • #705
  • Oct 20, 2009 8:28pm Oct 20, 2009 8:28pm
Quoting ForexSV
Stringer88 Hi.

how much they charge for in and out on 1 lot.

Thank you.
About $5.00
http://www.interactivebrokers.com/en...?ib_entity=llc
  • #706
  • Oct 20, 2009 10:01pm Oct 20, 2009 10:01pm
Quoting stinger88
About $5.00
http://www.interactivebrokers.com/en...?ib_entity=llc

Thank you, stinger.
  • #707
  • Edited 2:29am Oct 21, 2009 1:58am | Edited 2:29am
Trade stalled and eventually turned around. Got out break even.

http://img16.imageshack.us/img16/3862/ex11.th.gif

This trade would have turned into a big winner had I held on to it. I didn't get the best entry because the GBP was in an overall downtrend and I don't like trying to catch bottoms.
  • #708
  • Oct 21, 2009 3:34am Oct 21, 2009 3:34am
Dozed off for a few minutes and missed this one.

http://img11.imageshack.us/img11/3680/ex13.th.gif
  • #709
  • Oct 21, 2009 12:25pm Oct 21, 2009 12:25pm
guys i've come across a method just like tony's it seems to be a momentum method short term scalping PA on 10 sec charts.

the guy who does it made like 55000% a month (yeah u heard that right), he's repeated his performance several times, whatever he starts out with a few months down the line he's up several thousand percent.

thing is he's explained his system in a German forum in German so I can't really make out what he says even though I used babel fish to translate.

I'm hoping some one in here who trades Tony's system knows German and might have a look and describe the system for all of us.

Here's the link http://www.trade2win.com/boards/gene...one-month.html

I'm sure those of u who trade tony's system will find this interesting
  • #710
  • Oct 21, 2009 8:51pm Oct 21, 2009 8:51pm
Hi there,
It would be interesting to hear some opinions. For those people following the thread: What do you think about these 2 events:

1. The 9:00 AM EST CAD Overnight Rate that came out on OCT 20th
2. The 4:30 AM EST GBP MPC Meeting Minutes that came out on OCT 21st

Please observe how the pair reacted after these news and let me know what you think and if we could find a strategy on how to trade those similar news in red on the FX calendar.
Invest in alarm clocks
  • #711
  • Oct 21, 2009 9:48pm Oct 21, 2009 9:48pm
Quoting fugly
guys i've come across a method just like tony's it seems to be a momentum method short term scalping PA on 10 sec charts.

the guy who does it made like 55000% a month (yeah u heard that right), he's repeated his performance several times, whatever he starts out with a few months down the line he's up several thousand percent.

thing is he's explained his system in a German forum in German so I can't really make out what he says even though I used babel fish to translate.

I'm hoping some one in here who trades Tony's system knows German and...


"Ich möchte hinzufügen, dass ich noch nie irgendwelche Strategien getestet habe. Ich habe noch nicht mal ein Buch gelesen. Ich habe einfach nur über 1 Jahr lang jeden Tag 10std die Charts angestarrt"

TRANSLATION:


I would like to add that I have never tested any strategies. I never even read any books. I simply spent more than an entire year staring at the charts, 10 hours a day.
  • #712
  • Oct 21, 2009 9:59pm Oct 21, 2009 9:59pm
Quoting fxterrapin
"Ich möchte hinzufügen, dass ich noch nie irgendwelche Strategien getestet habe. Ich habe noch nicht mal ein Buch gelesen. Ich habe einfach nur über 1 Jahr lang jeden Tag 10std die Charts angestarrt"

TRANSLATION:


I would like to add that I have never tested any strategies. I never even read any books. I simply spent more than an entire year staring at the charts, 10 hours a day.
that sounds like me sometimes I even open up a chart and stare at it during the day when no one is trading... for a couple of minutes... i dunno it makes me feel at home
Invest in alarm clocks
  • #713
  • Oct 21, 2009 10:07pm Oct 21, 2009 10:07pm
Quoting kareem
i was thinking about trading those 5/6 candels with a 1pip tp ,because we get a lot of those,what do u think about that
I mostly try to aim for the opposite, 100 pips is better ;-)

Your win ratio would have to be very high in order to grow like that... and considering the spread cost $$$ + all the times you will hit your 5 pip stop-loss I believe it would be in your disadvantage to trade like this, it's the opposite of what I'm doing
Invest in alarm clocks
  • #714
  • Oct 22, 2009 3:41am Oct 22, 2009 3:41am
http://img17.imageshack.us/img17/4918/ex14.th.gif

In at 1.6523. Should have taken it out at 1.6500 but got greedy and watched it come all the back.
  • #715
  • Oct 22, 2009 6:46pm Oct 22, 2009 6:46pm
hi tony like you i have been observing for the past couple of weeks how the pairs behave during news announcemnts?i am interested in any ideas?
  • #716
  • Oct 22, 2009 6:56pm Oct 22, 2009 6:56pm
Quoting fugly
I'm hoping some one in here who trades Tony's system knows German and might have a look and describe the system for all of us.
I also would like to see a good translation of the web pages by someone who is fluent in German. Maybe we can get a better understanding how he did it and duplicate some of his success. Like you inferred it does sound similar to what Tony is doing. Using google translator below is some more of what was posted but it is not very clear.

Hej Siscop

Keine Ahnung, was du da für ne Strategie meinst.

No idea what you're mean to ne strategy.

Ich möchte hinzufügen, dass ich noch nie irgendwelche Strategien getestet habe.

I should add that I have not been tested before any strategies.

Ich habe noch nicht mal ein Buch gelesen.

I have not even read a book.

Ich habe einfach nur über 1 Jahr lang jeden Tag 10std die Charts angestarrt und mit Hebelzertis auch schon etwas verloren.

I have just over 1 years for only 10hrs each day staring at the charts and with Hebelzertis already lost something.

Mag sein, dass es ähnliche Strategien gibt.

It may be that there are similar strategies.

Das 10sek Zeitfenster nehme ich, bei großen Bewegungen.

The 10sec time frame, I suppose, with large movements.

Ich erkenne Volumen an der Skala.

I recognize the volume of the scale.

Ich habe immer eine feste Fenstergröße für Usd/yen.

I always have a fixed window size for Yen Usd /.

Sicher ist euch aufgefallen, das bei größeren Bewegungen aus der 2pip Skala, eine 5pipe Skala wird die immer enger wird.

Certainly you've noticed that in large scale movements from the 2pip a 5pipe scale is the increasingly close.

Das sind dann die Momente wo ich voll absahne.

These are the moments when I fully skim.

Bei der weiten 2 pipe Skala trade ich nocht nicht mal, da mir da das volumen schon zu klein ist.

For the next 2 pipe scale, I do not even trade Nocht, as I have because the volume is too small.

Achtet mal drauf, ist ganz hilfreich.

Respect views on it, is quite helpful.

Die Kerzen sind ja meist genauso aussagekräftig wie bei einer engeren Skala, nur das die Gewinnchanche höher ist, da ich ja eh bei kleinstem Verlust aussteige, bringt die Bewegung in meine Richtung mehr Pipes ein

The candles are usually just so meaningful as in a narrower scale, is only the Gewinnchanche higher, since I get out anyway at the smallest loss, bringing the movement in my direction more Pipes

Gute Nacht

Good night
  • #717
  • Oct 22, 2009 9:08pm Oct 22, 2009 9:08pm
Quoting a777
I also would like to see a good translation of the web pages by someone who is fluent in German. Maybe we can get a better understanding how he did it and duplicate some of his success. Like you inferred it does sound similar to what Tony is doing. Using google translator below is some more of what was posted but it is not very clear.

Hej Siscop

Keine Ahnung, was du da für ne Strategie meinst.

No idea what you're mean to ne strategy.

Ich möchte hinzufügen, dass ich noch nie irgendwelche Strategien getestet habe.

...
I can only say it's very nice from you to have translated this... it shows me that someone else thought of the same thing as me.... I can see he's gone on about the same road as me.... sleepless nights, months of chart surveillance... it's all worth it for life, you better believe that
Invest in alarm clocks
  • #718
  • Oct 22, 2009 9:14pm Oct 22, 2009 9:14pm
this was missed. because of some stupid grocery shopping.
YEP. now it all makes sense. now i know why some "people" HIRE some other "people" to do their groceries.
Attached Image (click to enlarge)
Click to Enlarge Name: 104.gif Size: 34 KB
Invest in alarm clocks
  • #719
  • Oct 22, 2009 9:35pm Oct 22, 2009 9:35pm
Ive been hovering this thread for about 2 months. I have also had an indicator made for Ninja trader with an alarm to try to use tony 12 system. Mainly because the idea of staring at the oanda 5 second chart for 4 hours didnt appeal to me. It had a Clockwork Orange feel to it.

It didnt work. The alarm sounded to many times lots of false signals. So I moved on to another system.After 2 months of dismal results I was trolling FF for a new system and I saw tony thread was still around. I read it again and decided to really give it an honest chance.

So I changed my leverage from 20 to 1 to 50 to 1. Then changed my lot size from .3 lots per 10000 to a full lot per 10000. My theory was with a 5 pip stop how bad could I do.

So I drank to double Cafe Mochas and I stared at the Oanda Chart like the center stage of my favorite strip club for an hour. I found it easier than I expected. Its sort of soothing like Tony said. Its like fishing your just waiting for a bite so that you can jump into action and reel in a fish. The only difference is I didnt read he only uses Euro/usd. I used the GBP/usd this morning.

To my great pleasure I hit 4 1% gains on my account in a row. I was quick to take profits at about 12 pips each. But I was so leveraged it was still sweet. Looking back at the charts I now see I could have let them run longer. I am going to experiment with Tonys idea of taking a trade and then letting it run instead.

I have to say I am very excited about this system now. I cant wait to try it tomorrow. I tip my hat to Tony for inventing this. I will be testing this further for the next month on live account. Will share any new ideas I have. I find it ironic that out of the 100 or so systems I tried the most simplistic system you can think of would work.

I did find that the best results were the first 2 hours of New York open.

Good Job Tony
  • #720
  • Oct 22, 2009 9:59pm Oct 22, 2009 9:59pm
Quoting JR_globalp
Ive been hovering this thread for about 2 months. I have also had an indicator made for Ninja trader with an alarm to try to use tony 12...
Wow it's nice to read things like this... thanks JR. Since the beginning, I put in my head the fact that I had to make it. I didn't know how. All I knew is that, if I make it here - it would be huge. Nowadays, I haven't loss money recently at all. With consistency I feel like I'm already touching it. If this thread ends up helping others, truly, I would be happy to know I've done some good too.

I'm currently trying to figure out real news trades and how to minimize the risk as a second project. Good luck and thanks again.
Invest in alarm clocks
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