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  • #1,021
  • Nov 23, 2009 8:07pm Nov 23, 2009 8:07pm
breakout
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  • #1,022
  • Nov 24, 2009 1:51pm Nov 24, 2009 1:51pm
Quoting Tony112
breakout
That was nice, I happened to catch that. I Need to go get a life and trade mainly london instead of staring at screen 24/7 but chart time is valuable.
  • #1,023
  • Nov 24, 2009 5:34pm Nov 24, 2009 5:34pm
Quoting darkness
That was nice, I happened to catch that. I Need to go get a life and trade mainly london instead of staring at screen 24/7 but chart time is valuable.

Lol but if you succeed in the long term, you'll definitely get a life. A nice one if you know what I mean...
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  • #1,024
  • Nov 24, 2009 5:47pm Nov 24, 2009 5:47pm
Hi Tony,

With regards to what we spoke about earlier, oanda is a 4 digit broker?

i dont know if its just luck but, when you get 100 pips is that 5 digit or 4, because if its 5 I must be the luckiest guy in the world bagging 100 4 digit pips sometimes. Thats what I have been going for.

oz
  • #1,025
  • Nov 24, 2009 5:49pm Nov 24, 2009 5:49pm
Hopefully we'll get some action tonite...been pretty slow the past few nites
  • #1,026
  • Nov 24, 2009 6:41pm Nov 24, 2009 6:41pm
Quoting ozzieb88
Hi Tony,

With regards to what we spoke about earlier, oanda is a 4 digit broker?

i dont know if its just luck but, when you get 100 pips is that 5 digit or 4, because if its 5 I must be the luckiest guy in the world bagging 100 4 digit pips sometimes. Thats what I have been going for.

oz
a pip is 1 point of the lowest denomination on a 4 pip broker and 10 points of the lowest denomination on the 5 pip broker
  • #1,027
  • Edited 11:05pm Nov 24, 2009 10:48pm | Edited 11:05pm
Guys, there is only one thing that will make a difference between success and failure with this system.

We have to eliminate the chances entering on false breakouts, just like in the e.g.


For the moment, I use these rules and settings:

1. Trading after 3 am est. time
2. Trading in the minutes following major news
3. Trading in the minutes following major speeches
4. Trading at psychological, support and resistance level


False breakout:
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  • #1,028
  • Nov 24, 2009 10:51pm Nov 24, 2009 10:51pm
in the days to come, I will help isolating these false breakouts by analyzing their properties and settings and posting examples here. feel free to contribute in finding them
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  • #1,029
  • Nov 24, 2009 11:05pm Nov 24, 2009 11:05pm
Quoting Tony112
in the days to come, I will help isolating these false breakouts by analyzing their properties and settings and posting examples here. feel free to contribute in finding them
We appreciate your contributions to this thread Tony. My trading has imrpoved enormously over the past few months since adopting your strategy and philosophies. Becoming a profitable trader is now very close for me.
  • #1,030
  • Nov 24, 2009 11:24pm Nov 24, 2009 11:24pm
Quoting stinger88
We appreciate your contributions to this thread Tony. My trading has imrpoved enormously over the past few months since adopting your strategy and philosophies. Becoming a profitable trader is now very close for me.
doesn't it feel good to notice that your account isn't reducing anymore? I lived it. I used to lose money over this and at some point of time you find stabilization and then you know that you can make it. When you pass 2 months of frequent normal trading and you notice your account has not moved, you are very close for making it. Once you reach this level something else might occur and it happened to me, so be aware. You will gain confidence and your performance might get affected by it. There is a proverb that says that "a human is the most tempted to abandon or fail when he is the closest to success." or something like that. anyways keep up the good work !
Invest in alarm clocks
  • #1,031
  • Nov 24, 2009 11:32pm Nov 24, 2009 11:32pm
Nice thread Tony.....

I have finally read through the entire thread..now I will follow along and see what I can figure out that will work with my schedule....I have been trading for 4yrs and for some reason your naked indicator trading approach made sense to me, as I know indicators are just showing what has happened in the past...so great job and I wish you much success....

Good Pipping,

RC
  • #1,032
  • Nov 25, 2009 2:18am Nov 25, 2009 2:18am
http://img504.imageshack.us/img504/3491/ex59.th.gif

Here's a potential trade that would have turned into a big winner. I decided against taking this trade because there was a little too much movement prior to the setup. I like flat lines with 2-3 pip range max prior to a potential setup.
  • #1,033
  • Edited 3:46am Nov 25, 2009 3:33am | Edited 3:46am
Short @ 1.6699. Decided to hold for more than 20 pips. Placed a stop at 1.6700. It got hit before turning back down. Arghhh!

http://img28.imageshack.us/img28/6451/ex60.th.gif
  • #1,034
  • Nov 25, 2009 3:48am Nov 25, 2009 3:48am
tony perfect L shape trade at 5.17am g/jp
  • #1,035
  • Nov 25, 2009 9:43am Nov 25, 2009 9:43am
Quoting cgforex
Nice thread Tony.....

I have finally read through the entire thread..now I will follow along and see what I can figure out that will work with my schedule....I have been trading for 4yrs and for some reason your naked indicator trading approach made sense to me, as I know indicators are just showing what has happened in the past...so great job and I wish you much success....

Good Pipping,

RC
it's never to late to quit indicators... their bad for your account's health LOL thanks and welcome
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  • #1,036
  • Nov 25, 2009 9:45am Nov 25, 2009 9:45am
Quoting stinger88
Short @ 1.6699. Decided to hold for more than 20 pips. Placed a stop at 1.6700. It got hit before turning back down. Arghhh!

http://img28.imageshack.us/img28/6451/ex60.th.gif

it's all good, that's how you trade the news!!!
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  • #1,037
  • Nov 25, 2009 9:45pm Nov 25, 2009 9:45pm
have you ever felt like crying missing something like this? I was watching the GBP only

MAJOR SUPPORT BROKEN ON THE JPY
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  • #1,038
  • Nov 25, 2009 10:10pm Nov 25, 2009 10:10pm
Quoting Tony112
have you ever felt like crying missing something like this? I was watching the GBP only

MAJOR SUPPORT BROKEN ON THE JPY
Was away from charts for an hour and came back to see that!! Yesterday it crashed 88.00 level, now it shattered 87. wow
  • #1,039
  • Nov 25, 2009 10:20pm Nov 25, 2009 10:20pm
Quoting darkness
Was away from charts for an hour and came back to see that!! Yesterday it crashed 88.00 level, now it shattered 87. wow
sick action entering on daily support and resistance levels is a win-win situation with my trading system
unfortunately, these type of support levels on a daily chart are broken only a few times per year. I could count them one hand.... from where the importance of being a full-time dedicated trader.
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  • #1,040
  • Nov 25, 2009 10:29pm Nov 25, 2009 10:29pm
ok there is a new support on 86.60 on USD/JPY
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