Central Banks & Big Players | Page 92 | 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

  • #1,821
  • Mar 22, 2010 8:25pm Mar 22, 2010 8:25pm
Quoting Monroe
"I'm gonna try this system tonight" is not what you should be saying. "I'm gonna try this system and study price action for a few months" is how you should be thinking. If you try it tonight and you lose trades... it's not the system. It's because you don't know price action and your taking bad trades. It's the trader, not the system. You need to develope your 80% hitrate by constantly watching the market and seeing how price moves. You can look at price action for years and still not know shit about it. You need to be seeing price action the...
http://img62.imageshack.us/img62/3932/wipemouth.gif
  • #1,822
  • Mar 22, 2010 10:20pm Mar 22, 2010 10:20pm
Thanks guys, hope I gave you something to think about because I really believe that with hard work and dedication, you can learn to trade and make a living doing so. I am not selling a system, I make my money scalping. I'm just sharing info from one trader to the another. Best of luck to everyone. All I'm saying is scalping or trading in general can be learned... price action can be learned. It works a certain way and always will. There are more algo bots out there in the market today... so it doesn't move as smooth as it used to, but it will always be manually trade-able.

risk managment, money management, and skills to recognize PA movement and keeping emotions out of the equation are (IMHO)the key things you need to work on as a trader. You will always be refining your entries as you learn new setups and money management as your skills and equity increase.

p.s - keep your stops tight! and if you scalp like me, keep your exits tight as well. take what the market gives you. I never have a set target of pips to reach everyday, some days are good, somedays are amazing. I take what it gives me. always keep in mind the market conditions your dealing with. rock on people!
  • #1,823
  • Mar 23, 2010 7:19am Mar 23, 2010 7:19am
Not much activity @ US session...waiting for price to touch S/R

http://i39.tinypic.com/8ysze1.png
  • #1,824
  • Mar 23, 2010 7:24am Mar 23, 2010 7:24am
Quoting adaseb
Who here besides Tony112 has traded this method for the past couple of months?

There were many here who claimed to make loads of money in the past year but for some reason stopped posting.
I have been. And I have stopped posting because:

Because:

A) Time is limited at the moment (work and trading)

B)People dont read the whole thread where there is a vast amount of information.

C) It takes time to learn the method its simple yes but you need time to understand PA - My advise to anyone, read the thread then get your head onto the screen then post.

D) Whether anyone claims to make money or not, it is not of anyone's concern, All you have to worry about is yourself. You are here to make money, if there are success stories be happy for them. I can tell you now once you have started to stop losing money and making it, you will be posting telling everyone it is a accomplishment one that comes with a lot of hard work.

Sorry for the rant, I am not personally having a dig at you. Just your question was the best for me to reply to.

Oz
  • #1,825
  • Edited 8:54am Mar 23, 2010 8:24am | Edited 8:54am
I sold because price rapidly fell after getting near resistance (no 8 pip candles however), hit 0SL on first trade and the second trade is now set to 0SL as well

http://i39.tinypic.com/nqdxmo.png

Another trade--same thing happened.
http://i39.tinypic.com/x4rpl3.png
  • #1,826
  • Mar 23, 2010 8:27am Mar 23, 2010 8:27am
There was a GBPUSD 5 pip candle minutes after 3am cst that went for many pips.........didn't fit the rules, so I passed.
  • #1,827
  • Mar 23, 2010 9:35am Mar 23, 2010 9:35am
Hi Folks,

hows it going so far this week? for me kinda quiet as im back at work keeping one eye on the screen. Im starting to write down and even dictate some stuff on my iphone as to why i took trades, with screen shots etc.

I'm still nowhere near right in the head to trade live all the time, I'm afraid my head just aint in the correct frame of mind, also I have major trouble constantly tinkering with my charts, I mean its getting ridiculous, I find myself getting sucked into (well if i change this and that, then maybe this will happen or that).

Enough to know at the moment I have live physc trading issues, than can only be ironed out over time, screen time and listening to and playing with the markets.

Does anyone else find themselves constantly adjusting charts ? its driving me mental but at the same time i cant stop doing it!!!!!!!!
  • #1,828
  • Mar 23, 2010 2:29pm Mar 23, 2010 2:29pm
hey morgb

have you ever thought of writing out your strategy. then after you have tried it you can see the flaws in your strategy as opposed to yourself. then you can tweak it and see how that goes. puts the pressure on your strategy instead of you. not that a rigid strategy is the answer, but it helps to have something to lean against

also try playing music that makes you feel cocky. when i listen to music that is supposed to relax me i can see right through it but try music that makes you feel like you're the shit
  • #1,829
  • Mar 23, 2010 8:21pm Mar 23, 2010 8:21pm
i got stopped

should I say, I lost 0 pips or I won 0 pips,

some things are so confusing in forex....
Attached Image (click to enlarge)
Click to Enlarge Name: 142.JPG Size: 134 KB
Invest in alarm clocks
  • #1,830
  • Mar 23, 2010 9:27pm Mar 23, 2010 9:27pm
what if we took half off the table at say 50 pips?

-how would we even do that? if we get short 10 units, just buy 5 at the point you wish to take half off?
  • #1,831
  • Mar 23, 2010 9:46pm Mar 23, 2010 9:46pm
heres a live trade

theres a pin bar at support. we've been in this consolidation for what feels like an eternity. seems like a good learning experience
Attached Image(s) (click to enlarge)
Click to Enlarge Name: hourly.jpg Size: 112 KB
Click to Enlarge Name: hourlyseconds.jpg Size: 112 KB
  • #1,832
  • Mar 23, 2010 9:49pm Mar 23, 2010 9:49pm
the glory of the colors just doesn't come through with print screen. that shit pulsates
  • #1,833
  • Edited 10:26pm Mar 23, 2010 10:09pm | Edited 10:26pm
again


--edit--

i thought i would mention that i know i'm not entering on >8 pip bars. its a tuesday at eleven pm, so maybe longer term price action loosely interpreted can suffice. doing an experiment and i thought i'd share it. lets see what happens if price breaks the top of that pin bar by a couple of pips. or that fib.

while i was typing this i got stopped out.

sorry for posting so much, i'm gonna keep at this and see if i can't at least get my stop to breakeven. maybe i need to enter on bigger candles. or maybe just more bigger than average ones. we'll see
Attached Image (click to enlarge)
Click to Enlarge Name: again.jpg Size: 113 KB
  • #1,834
  • Mar 23, 2010 10:22pm Mar 23, 2010 10:22pm
not the greatest price action after that one, looks like a pullback to touch resistance...
  • #1,835
  • Mar 23, 2010 11:28pm Mar 23, 2010 11:28pm
finally one to b/e!

i can go to sleep now.

see you all at eight or nine. earlier if i can.

tp 120 stop 0
i'll be dreaming of pips i feel
Attached Image (click to enlarge)
Click to Enlarge Name: finally.jpg Size: 122 KB
  • #1,836
  • Mar 24, 2010 2:27am Mar 24, 2010 2:27am
Monroe,
it is necessary to exit in reliable Profit targets (according to S/R, psych level) BUT generally what do you think about scalping in forex (decentralization system). In other markets you are able to see orders book and time and sales (you can see where the central banks or other big players have limit orders). Of course level 2 depth is another advantage. I think that in spot forex is like driving a car by sightless.
I am trying Tony112 system with achievment but still a LOT false signals. Thank you for your answer and opinion...
  • #1,837
  • Mar 24, 2010 7:25am Mar 24, 2010 7:25am
my breakeven trade from last night got stopped.

time to look for the big fish
  • #1,838
  • Mar 24, 2010 8:09am Mar 24, 2010 8:09am
Quoting cmeldatrader
Monroe,
it is necessary to exit in reliable Profit targets (according to S/R, psych level) BUT generally what do you think about scalping in forex (decentralization system). In other markets you are able to see orders book and time and sales (you can see where the central banks or other big players have limit orders). Of course level 2 depth is another advantage. I think that in spot forex is like driving a car by sightless.
I am trying Tony112 system with achievment but still a LOT false signals. Thank you for your answer and opinion...

Definitely agree, I just finished reading the whole thread. I come from ES (mini S&P) trading using the DOM. This is exactly as you say about sightless. But I think this method is as close as you can get to "reading the tape" in FX.

Sean
  • #1,839
  • Edited 11:48am Mar 24, 2010 11:27am | Edited 11:48am
Wow, I set a buy stop on USDJPY and price was only a few pips away from activating it. If it had, I would've hit the 120TP because it's up 168 pips right now.

USDJPY bounced off of resistance:

http://i39.tinypic.com/28pgqs.png
  • #1,840
  • Mar 24, 2010 1:01pm Mar 24, 2010 1:01pm
first of all i want to say thank you tony for this nice system.

i read the hole thread, unfortunatelly i wasnt able to get the 5sec charts in mt4, although i tried several tools. would be awesome if someone could help me.

i read some guys coded an ea and i want to kindly ask if anyone wants to share his version? i started to code but is seems to be pretty tricky
6 traders viewing now