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Central Banks & Big Players

  • #1,341
  • Feb 5, 2010 4:55am Feb 5, 2010 4:55am
notice what happened to the EURO this week, once it passed that 1.38000000 line... it never came back... that could have been played with a 2 pip stop-loss..$$
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  • #1,342
  • Feb 5, 2010 4:56am Feb 5, 2010 4:56am
could we re-do the whole system in function of that and add an extra requirement?
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  • #1,343
  • Feb 5, 2010 5:49am Feb 5, 2010 5:49am
Let's analyze things further:

A psychological level that has not been touched for a long time is bound to have a bunch of order set up on it.

Once the price touches a long-time touched psychological level, a lot of orders are triggered.

To detect a big contrast of short/low orders, we would still use the presence of a 10 pip candle - at a psychological level

Same stop-loss rules applies

Everything else remains the same
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  • #1,344
  • Feb 5, 2010 6:01am Feb 5, 2010 6:01am
2 requirements will now be present for this system, it will be updated on the first page:

1st: 30 mins within the London/New York open
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  • #1,345
  • Feb 5, 2010 6:03am Feb 5, 2010 6:03am
2 requirements will now be present for this system, it will be updated on the first page:

entry only allowed on a 10 pips (5 sec candle) at:

-within 30 mins after the London/New York
-or at a psychological level
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  • #1,346
  • Feb 5, 2010 6:04am Feb 5, 2010 6:04am
this will eliminate a whole lot of false entries
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  • #1,347
  • Feb 6, 2010 2:15pm Feb 6, 2010 2:15pm
very important factor: in the presence of a 10-15 pip (5 sec. candle), you must still put a stop loss of 3-4 pips max. Never put a stop-loss equivalent to the whole candle (10-15) pips... if the price is bound to continue, it will, with force and confidence, if not, wait for the next setup.
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  • #1,348
  • Feb 6, 2010 11:34pm Feb 6, 2010 11:34pm
Hi Tony


I've read most of the thread but I don't think I noticed anywhere the concept of using volume.

It would make sense to at least look at that as a trade confirmation since the big players would spike that up as well.

Hope I'm not too much off topic with this, I know you love as naked as possible.
  • #1,349
  • Feb 7, 2010 3:55am Feb 7, 2010 3:55am
Quoting robertw
Hi Tony


I've read most of the thread but I don't think I noticed anywhere the concept of using volume.

It would make sense to at least look at that as a trade confirmation since the big players would spike that up as well.

Hope I'm not too much off topic with this, I know you love as naked as possible.
This would be a great addition but I can't get volume on forex pairs with my broker Interactive Brokers. Is anyone else able to get volume?
  • #1,350
  • Feb 7, 2010 12:35pm Feb 7, 2010 12:35pm
Quoting stinger88
This would be a great addition but I can't get volume on forex pairs with my broker Interactive Brokers. Is anyone else able to get volume?
You would have to go to a program like esignal which costs about $120 a month. Its the most reliable charting package on the market for forex but its not cheap.
  • #1,351
  • Feb 7, 2010 11:26pm Feb 7, 2010 11:26pm
Quoting Sonofsin5
You would have to go to a program like esignal which costs about $120 a month. Its the most reliable charting package on the market for forex but its not cheap.
I've tried esignal before and from what I recall, it doesn't have volume for forex either.
  • #1,352
  • Feb 7, 2010 11:45pm Feb 7, 2010 11:45pm
tonight I will place a trade on EUR/USD at exactly 3am est. time. on the London open. Stop-loss will be 3 pips and TP will be 300 pips.

I will then spend the night watching GBP for big candles.... good trading all
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  • #1,353
  • Feb 8, 2010 1:02am Feb 8, 2010 1:02am
I took the first devastating loss of the week, huge 1 pip loss, devastating

completely deserting, devastating LOSS
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  • #1,354
  • Feb 8, 2010 1:47am Feb 8, 2010 1:47am
epic loser
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  • #1,355
  • Feb 8, 2010 2:06am Feb 8, 2010 2:06am
ok it took off............... TP is at 333 pips... if I lose those 2 pips I know how to get them back at 99%
it's what I call a MMMO monday morning market open
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  • #1,356
  • Feb 8, 2010 2:21am Feb 8, 2010 2:21am
floating at 15 pips, might go to bed, TP is at 333 pips
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  • #1,357
  • Feb 8, 2010 2:22am Feb 8, 2010 2:22am
currently at 6% probability of touching TP, floating at 20 pips
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  • #1,358
  • Edited 2:48am Feb 8, 2010 2:29am | Edited 2:48am
epic win, floating at 40, buy the eur people
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  • #1,359
  • Feb 8, 2010 6:18am Feb 8, 2010 6:18am
good work!
  • #1,360
  • Feb 8, 2010 7:31am Feb 8, 2010 7:31am
Wow, not even a 6 point candle on the EUR after the US open, snoooze
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