Central Banks & Big Players | Page 63 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

How do you know all the positions held by big players? 25 replies

ECN && STP && Scalping && Hedging - Broker Review - Oct 2009 24 replies

Central Banks and Big Players: Slight change in code reqd 7 replies

Japanese housewives are wrecking the forecasts of big players! 25 replies

Big players and Forex 4 replies

Attachments: Central Banks & Big Players
Exit Attachments

Central Banks & Big Players

  • #1,241
  • Dec 23, 2009 6:08pm Dec 23, 2009 6:08pm
Quoting elchoco
wltams 5sec indicator might be a way to go.

Peace

Patrick
5sec indicator -where can be found?
  • #1,242
  • Dec 24, 2009 3:45am Dec 24, 2009 3:45am
Wishing you all a Blessed Christmas & Blessed New year. 2010 is ours, let get together and make more wealth by using this system.

P.S. Special thanks to Tony for sincere sharing.
  • #1,243
  • Dec 24, 2009 3:57am Dec 24, 2009 3:57am
Good system frenz...
Happy Holidays...
  • #1,244
  • Dec 26, 2009 12:06pm Dec 26, 2009 12:06pm
Quoting cosmoras
5sec indicator -where can be found?
It was a few pages back, hit the paperclip at the top of the page to find all the attachments and it's there somewhere. I meant that if the "big tick" idea was erroneous that i'd have to look at counting pip movement every 5 seconds like this indicator.

Meanwhile, one thing is obvious. There are far more ticks going past on the Oanda platfrom than are registered on my Metatrader feed. I know it was quiet just before xmas so I'll have to wait until January to see if it receives any triggers.

Happy New Year !
  • #1,245
  • Edited 11:00pm Dec 27, 2009 9:58pm | Edited 11:00pm
There's a problem with that tick-size indicator I posted a couple of pages back. The alarm fires even when the tick value equals the trigger setting. I think it's an error with comparing data types, but not sure yet.

Either way it's not giving reliable signals, so it's back to watching the screen.

Mierda.
  • #1,246
  • Dec 28, 2009 1:26am Dec 28, 2009 1:26am
I'm THE man
Invest in alarm clocks
  • #1,247
  • Dec 28, 2009 10:58pm Dec 28, 2009 10:58pm
I'm studying your thread at the moment, want to read the whole thing before jumping into the discussion. In the middle at the moment about where you're trying to figure out news trading.

I had a thought which I never really tried yet.

Before the news open two positions in both directions with lets say 5-10 pip SL and 100-200 pip TP.

Obviously one will close with a loss while the correct one should more then make up the loss if it runs.

Yes its hedging and they won't let you do that on US accounts anymore but just use two accounts then.

Anyway my two cents for now - please share if anyone is brave to try it.

Back to reading.

Robert
  • #1,248
  • Dec 28, 2009 11:45pm Dec 28, 2009 11:45pm
Quoting robertw

I had a thought which I never really tried yet.

Before the news open two positions in both directions with lets say 5-10 pip SL and 100-200 pip TP.

Obviously one will close with a loss while the correct one should more then make up the loss if it runs.
Depending on the behavior of price action around the news announcement, your 5-10 pip sl might easily get hit in both directions. Also, 100+ pip moves post news are not rare - but they are probably larger than usual, especially in a ranging market, so quite possibly your tp would not get hit (quickly) even if one of your trades got to run.

If you want to trade around the news you should practice with specific news announcements & get a feel for the magnitude and character of PA for that news....not all "news" has the same effect on the market.

I usually scalp in volatile PA that remains in the aftermath of news announcements - after the spreads have come back down. I have a database of news trades sorted for each specific news event - for E/U and cable only. I am not completely sure how useful that information will ultimately be - ask me in a year or so. But I do believe the trading plan you have outlined would fail completely in many of the more volatile newstrade scenarios...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,249
  • Dec 29, 2009 12:26am Dec 29, 2009 12:26am
Fool


Agreed that the order may be hit in both directions during the announcement
I've seen this happen many times during the past 3.5 years of screen time (I'm probably as addicted as Tony to make this work at all cost)

I personally avoid trading at least 1 hour before and 1 hour after News announcements. The roller coaster ride is not worth it to me anymore.

Just figured that maybe some brave souls out there may want to try it.
  • #1,250
  • Dec 29, 2009 1:31am Dec 29, 2009 1:31am
One thing I noticed in the thread is the reference to indicators showing the past which is true but isn't the price that you see also showing you the past.

now that I think about it we look at the past and try to predict the future and technically there is no present.

I mean the indicator just takes that info and shapes it differently and displays it maybe a millisecond later due to calculation time so to the eye the quote and indicator info are dispayed at the same time in most cases.

What do you think?

I do agree with the sentiment here of making the trading as simple as possible.

RW
  • #1,251
  • Dec 29, 2009 1:43am Dec 29, 2009 1:43am
Quoting robertw

What do you think?

I do agree with the sentiment here of making the trading as simple as possible.
Keep it simple, yes, that's good. Open a 5s or 10s chart of E/U or other low-spread pair at the times when transitions to increasing liquidity/volatility are m/l given. That's at the run-in & across the FO/LO, same for Tokyo open, same for NY open, and also for scheduled "news" announcements. You don't need any indicators. Watch for breakout or otherwise strong moves and trade to grab a piece of them. Some people want to enter and try to ride said move for all its worth, OK - move sl to BE and let it ride. Others (like me) take money off the table iteratively with small profit targets - 5-10 pips max. OK, that works, too - take profit, reload, do it again.

This is a good way to trade with very low risk:reward consistency.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,252
  • Dec 29, 2009 1:57am Dec 29, 2009 1:57am
Fool

Yes, taking money off the table is very important.
We seem to have a similar approach. I'm shooting for 2 transaction of 10 pips per day and increasing the # of lots a tiny bit with each iteration, plus I'm getting in the habit of taking half the profit out of the account asap and putting that in a separate account ( In case s*** happens no new money needs to be used).

I'm gonna make millions in this or I'm gonna die trying.
  • #1,253
  • Dec 29, 2009 2:21am Dec 29, 2009 2:21am
Quoting robertw
Fool

Yes, taking money off the table is very important.
We seem to have a similar approach. I'm shooting for 2 transaction of 10 pips per day and increasing the # of lots a tiny bit with each iteration, plus I'm getting in the habit of taking half the profit out of the account asap and putting that in a separate account ( In case s*** happens no new money needs to be used).

I'm gonna make millions in this or I'm gonna die trying.
Right on. 20 pips a day is a nice round figure. I shoot for that as a minimum. If I am feeling good I will trade with 0.2% of account per pip risked - with a 5-pip sl that's a 1% risk. And 20 pips earned thusly is 4% per day. I find if I just linearly adjust trade size as a percentage like this I can more or less mechanically proceed toward glory. BUT - everyone has their limit. I start feeling antsy above $20/pip & pull back on size. This is probably funny cuz I know there are bigtime scalpers who play $100,000/pip without breaking a sweat....

In good PA I will set 3-pip sl:5 pip tp or sometimes 5p sl:10p tp. In post-news or other instances where I expect bigger moves I might set 5p sl:20p tp. I try to move sl to BE+ on good movers but I have not decided whether that is worthwhile - could be that I need to keep experimenting with it - but usually this loses me pips as PA comes back to nick my sl at BE+. After seeing that happen a few times I'm like f*ck it I'll just keep bagging the small pips and reload, blaze again...

Good luck, amigo.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,254
  • Dec 29, 2009 5:54pm Dec 29, 2009 5:54pm
Finally finished reading the thread.

Hats off to Tony

The strategy is great, I used to get mad at the slow PA sometimes but from now on I'll just look at it as the rain before the rainbow.

Combined with my other method this should be a great year.
I don't know about you guys but I plan to finish 2010 with a seven digit balance.

Since we all agree that this is a boring business that we're in, is there any interest here to start a chat room or something of that sort where we can meet live (no delay between posts and possibly less missed trades but probably another thing to get addicted to).

Robert
  • #1,255
  • Dec 30, 2009 1:00am Dec 30, 2009 1:00am
Quoting robertw
Since we all agree that this is a boring business that we're in, is there any interest here to start a chat room or something of that sort where we can meet live (no delay between posts and possibly less missed trades but probably another thing to get addicted to).
People are different I'm sure but, personally, when I'm scalping, I do a lot better with the Forex Factory & all other distractions turned off.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,256
  • Dec 30, 2009 1:54am Dec 30, 2009 1:54am
Quoting The Fool
People are different I'm sure but, personally, when I'm scalping, I do a lot better with the Forex Factory & all other distractions turned off.
(feelings hurt)

What do you mean? You don't go on a call thread and ask people what they think?
  • #1,257
  • Dec 30, 2009 7:57pm Dec 30, 2009 7:57pm
That was a nice run in GU today, hope some of you caught it. I didnt
However its range trading again so heads up.

I don't know if I'd call it a distraction, if you don't want to participate at any moment you simply don't and concentrate on trading. There is always that 'X' in the top right hand corner of your monitor
  • #1,258
  • Dec 31, 2009 11:44am Dec 31, 2009 11:44am
Quoting Tony112
I'm THE man


Yesss....

Happy New Year to all treders trading CBBP system!

Thanks Tony for sharing it with us and positive approach and fresh enthusiasm here!

In a NY2010 with a grupu of fellow traders I will try to apply wisdom from here to precise entries to long term moves ~~200-600 pips that are starting several times a month on different pairs. I'll try to use CBBP as a subsystem in original Price Action system.

Is it reasonable? I dont'know! Maybe not, but we learn a lot certainly!

If someone have an access to a historical data (any pair, preerably low spread pairs) from 5-10-30 sec it will be much appreciated!

  • #1,259
  • Dec 31, 2009 11:53am Dec 31, 2009 11:53am
Happy new year of 2010!
  • #1,260
  • Jan 3, 2010 9:57pm Jan 3, 2010 9:57pm
Are you able to load EA to onanda? Because I have a master/slave ea for fast/slow feed brokers.
15 traders viewing now