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Central Banks & Big Players

  • #941
  • Nov 11, 2009 7:23pm Nov 11, 2009 7:23pm
Great work,Tony!!!
  • #942
  • Nov 12, 2009 10:10am Nov 12, 2009 10:10am
which pair does this system work best? and which session does this system work best??at new york session or london session or european session which session??
  • #943
  • Nov 12, 2009 11:05am Nov 12, 2009 11:05am
Works best London open through to New york open.

Theres no actual time that it happens... just have to be patient.

But works well at S & R levels.

Oz
  • #944
  • Nov 12, 2009 12:15pm Nov 12, 2009 12:15pm
Guys, who is trading this system full time ?

and, if any of you are trading for a living ? full time job, you know.

Thanks.
  • #945
  • Nov 12, 2009 1:31pm Nov 12, 2009 1:31pm
I think Tony is.

I am trading part time...as in dual screen open at work, but cant always keep an eye on it when things get busy. But try to get alerts at major pivot and S/R lines and quick check see whats happening.

Oz
  • #946
  • Nov 12, 2009 7:15pm Nov 12, 2009 7:15pm
Quoting ForexSV
Guys, who is trading this system full time ?

and, if any of you are trading for a living ? full time job, you know.

Thanks.
I do now. I started with a stack I saved working as an insurance agent.
Invest in alarm clocks
  • #947
  • Nov 13, 2009 9:15am Nov 13, 2009 9:15am
Quoting Tony112
I do now. I started with a stack I saved working as an insurance agent.
what,s a stack 10,000 or 1,000
  • #948
  • Nov 13, 2009 1:52pm Nov 13, 2009 1:52pm
My goals for next week:

Watch forex markets from 10pm-9am everyday.
Average 20 pips per day.

This is a very acheivable goal but my biggest problem now is staying awake and alert for 11hrs per day.
  • #949
  • Nov 13, 2009 1:56pm Nov 13, 2009 1:56pm
Quoting stinger88
My goals for next week:

Watch forex markets from 10pm-9am everyday.
Average 20 pips per day.

This is a very acheivable goal but my biggest problem now is staying awake and alert for 11hrs per day.
Definitely not an easy task, i finally got my hours figured out for next couple weeks so I can stay up at night and watch the action on 5sec to trade this method.
  • #950
  • Nov 13, 2009 1:59pm Nov 13, 2009 1:59pm
eleven hours a day?hard.
  • #951
  • Nov 13, 2009 2:04pm Nov 13, 2009 2:04pm
Quoting darkness
Definitely not an easy task, i finally got my hours figured out for next couple weeks so I can stay up at night and watch the action on 5sec to trade this method.
I'll have the coffee machine ready.
  • #952
  • Nov 13, 2009 2:43pm Nov 13, 2009 2:43pm
is it possible to make an alarm system in order to create a signal about this method??how can we do this?it is very hard to vait for hours in order to catch 1 or 2 signals in a day...
  • #953
  • Nov 13, 2009 3:25pm Nov 13, 2009 3:25pm
Quoting pipchampion
is it possible to make an alarm system in order to create a signal about this method??how can we do this?it is very hard to vait for hours in order to catch 1 or 2 signals in a day...
Someone here tried that and said that there were way too many false alarms. I can't see this being a realistic option. There are many potential moves that all look promising but only a few turn into winners.

Learning to filter the trades is the key and its something that I don't think is possible to automate. Its sort of like learning to read a poker player. It just takes a lot of practice.
  • #954
  • Nov 13, 2009 4:17pm Nov 13, 2009 4:17pm
ok.i mean just taking alarm when a pair rise or fall more than 10 pips at 5 secs.is it possible with oanda?
  • #955
  • Nov 13, 2009 4:22pm Nov 13, 2009 4:22pm
Quoting pipchampion
ok.i mean just taking alarm when a pair rise or fall more than 10 pips at 5 secs.is it possible with oanda?
Not possible with Oanda but with NinjaTrader yes.
  • #956
  • Nov 13, 2009 4:41pm Nov 13, 2009 4:41pm
Quoting stinger88
My goals for next week:

Watch forex markets from 10pm-9am everyday.
Average 20 pips per day.

This is a very acheivable goal but my biggest problem now is staying awake and alert for 11hrs per day.
11 hours a day. thats tough trading And in the middle of the night. are you planning on sleeping during the day or do you have another job?
  • #957
  • Nov 13, 2009 6:18pm Nov 13, 2009 6:18pm
Quoting jamiewhite
11 hours a day. thats tough trading And in the middle of the night. are you planning on sleeping during the day or do you have another job?
Just trading. Yeah the hrs are odd which is really the hardest part for me but I have been watching and trading forex for half a year and I don't see any other way.

If I hit my target of 20 pips for the day, I may just call it a day after 8hrs. We'll see how things go.
  • #958
  • Nov 13, 2009 6:46pm Nov 13, 2009 6:46pm
Quoting stinger88
Just trading. Yeah the hrs are odd which is really the hardest part for me but I have been watching and trading forex for half a year and I don't see any other way.

If I hit my target of 20 pips for the day, I may just call it a day after 8hrs. We'll see how things go.
hey , 5pip risk for 20pip profit is not bad, once you get it dialed in, you can go with quite few lots,,5pip risk is tiny...makes it worth it to wait in middle of night
  • #959
  • Nov 13, 2009 6:59pm Nov 13, 2009 6:59pm
Quoting darkness
hey , 5pip risk for 20pip profit is not bad, once you get it dialed in, you can go with quite few lots,,5pip risk is tiny...makes it worth it to wait in middle of night
Exactly. And the good thing about this system is that you can often get out for breakeven if the trade doesn't work out. There's also at least one good trade a week where you can get well over 20pips, usually a big news announcement. So the risk-reward ratio is very good.
  • #960
  • Nov 13, 2009 7:48pm Nov 13, 2009 7:48pm
Quoting stinger88
My goals for next week:

Watch forex markets from 10pm-9am everyday.
Average 20 pips per day.

This is a very acheivable goal but my biggest problem now is staying awake and alert for 11hrs per day.
On average, I trade every day from 0700 - 1000 GMT, then maybe an hour, at most, around the Tokyo open, then, I might trade around news at the NY open - but typically about 4 hrs/day of screen time. Mostly scalping E/U on the 10s/M1 charts & I average about 40 pips/day.

11 hrs/day is too much, not sustainable over time. Just mho. To each his own, though, and best of luck to you.
"If The Fool persists in his Folly he will become wise." - William Blake
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