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  • #2,421
  • Jun 18, 2010 1:29am Jun 18, 2010 1:29am
Quoting morfisher
Hi everyone, I got 60 pips on the london open, how do I save the chart on o...da thanks tony, a cool few hundred, i will start to post my charts then.

Go to tools and save profile. on oanda chart.
  • #2,422
  • Jun 18, 2010 6:28am Jun 18, 2010 6:28am
sometimes i just could start and break stuff. about 15 entries this week. 3-4 stop outs for 2 pips and the rest 0SL . why so much 0SL , ok i lost nothing but that is just so freaking annoying.
  • #2,423
  • Jun 18, 2010 8:56am Jun 18, 2010 8:56am
Quoting alfanzereii
sometimes i just could start and break stuff. about 15 entries this week. 3-4 stop outs for 2 pips and the rest 0SL . why so much 0SL , ok i lost nothing but that is just so freaking annoying.
Just stick with it, when you get it you will be happy.
  • #2,424
  • Jun 18, 2010 11:45am Jun 18, 2010 11:45am
Quote
Just stick with it, when you get it you will be happy.

That's perfectly right. It's just that i sometimes get a bit too emotional about these things and when I release the stress it's alright again.
After all it's pretty important to keep your cool when you're trading, that's something I still have to learn after 4 years of forex.
  • #2,425
  • Jun 18, 2010 12:21pm Jun 18, 2010 12:21pm
hi friends..

i' love 0 SL,
but how do you decide going long or short, at the london or NY open??
  • #2,426
  • Jun 18, 2010 1:31pm Jun 18, 2010 1:31pm
Quote
hi friends..

i' love 0 SL,
but how do you decide going long or short, at the london or NY open??
In my opinion daily high and daily low are important points for bounce offs and more importantly breakouts. I keep a close look at them and draw horizontal lines on these points, so I can keep track of them on the 5 sec chart.

The other thing is intra day support and resistence , where I also draw lines and then I look at fast price action around these important points and decide my direction.
My direction is the direction of the PA. I don't care much about what happend earlier that day(e.g. price going north all day), just what happens now. The reason is because when I enter in direction of the PA , I can set my 0SL and the rest just doesn't really matter to me.
It's more important to not loose money then to make some in my opinion.
  • #2,427
  • Jun 18, 2010 11:21pm Jun 18, 2010 11:21pm
Hi Tony, This method looks great! I just have a couple of questions, seeing as on the first page it says the rules have changed, and after browsing countless pages with people talking about different ideas im a tiny bit confused.

So I am watching the 5 sec charts in the first 2 hrs of the london and then NY sessions.. and im waiting for a bar larger than 8 pips to form then pop an order in that drection? is this after a period of the price being confined in a 2 pip range or just anytime? Also it now says 3 pip stop and 120 pip tp..?
so is the stop ALWAYS 3 pips below the entry point..presumably at the top of the 8 pip 5 sec bar? and the TP how do we decide when to exit? Also, are you trading both the EURUSD and GBPUSD? what else um.. how long is your average trade with this system, what is the win rate and the general risk:reward ratio.
how many setups do you get per day/week and when do i move to breakeven.

anything else important you think I should know would be excellent.. thanks so much for your time!
Limitation is a creation of the mind
  • #2,428
  • Jun 20, 2010 8:42pm Jun 20, 2010 8:42pm
no comment
Attached Image (click to enlarge)
Click to Enlarge Name: 147.gif Size: 8 KB
Invest in alarm clocks
  • #2,429
  • Jun 20, 2010 10:34pm Jun 20, 2010 10:34pm
Hi Tony

Just been reading your thread and checking the charts

I run the same system with a few modifications on gj slightly bigger sl but when it goes it really goes. plus its good through asia

My question is why dont you put a trailing stop on

I take a trade and as soon as it 3- 4 pips positive put a normal stop in just above break even an then set a trailing stop 10 pips back. Gj can move 20 pips in 10 seconds so the origonal stop stays in place but the trailing stop takes over as soon as its plus 10 pips

looking at some of your charts you would have cleaned up
Im sure you have thought all this out but it could optimise a few trades

Other than that 5 10 sec tf are the way forward
On GJ its possible to take 40 -60 pips in a 15 min candle if you play the longs and the shorts using 5 and 10 sec tf

.
  • #2,430
  • Jun 20, 2010 11:29pm Jun 20, 2010 11:29pm
Quoting Tony112
no comment



5 SEC. CHART. SURVEILLANCE
from:8:00:00 am to 10:00:00 am NY EST TIME (NY open) and
from: 3:00:00 am to 5:00:00 am NY EST TIME (London open)


So what happened to that rule????????????????
  • #2,431
  • Jun 20, 2010 11:33pm Jun 20, 2010 11:33pm
Quoting Bryan
5 SEC. CHART. SURVEILLANCE
from:8:00:00 am to 10:00:00 am NY EST TIME (NY open) and
from: [size=2][color=dimgray][b][font=Arial][color=darkorange]3:00:00...
He didn't enter the trade
  • #2,432
  • Jun 21, 2010 3:58am Jun 21, 2010 3:58am
Hello

I´m following this treath and have made some questions and as some othere members there are no replys.

hhhmmmm

Is there anyone making pips with this metod as Tony is doing?

Thanks.

Alfredo
  • #2,433
  • Jun 21, 2010 4:57am Jun 21, 2010 4:57am
Quoting Alfredo
Hello

I´m following this treath and have made some questions and as some othere members there are no replys.

hhhmmmm

Is there anyone making pips with this metod as Tony is doing?

Thanks.

Alfredo
Hi Alfredo,

Still looking for the Holy Grail ?.

I posted a reply (post 2306 June 2nd) to your original inquiry regarding the profitability of this method.

I am rather surprised that you haven't tried out this type of trading in a Demo account to either confirm or deny my statement that this method is a robust way to enter the market offering minimum draw down before the trade moves into profit.

Of course every trade isn't going to result in a win ( I know of no method that produces only winning trades) but the losses incurred relative to the potential profits are small.

Regards,


BabeFX
  • #2,434
  • Jun 21, 2010 4:59am Jun 21, 2010 4:59am
Hi,

If you read through the thread I have on a number of occasions said that I am.

I am not trying to sound rude, but if you read the thread properly the question has been asked, I and a number of others have said that we are making money. I myself only when I have the time to trade this method.

thanks

Oz
  • #2,435
  • Jun 21, 2010 5:06am Jun 21, 2010 5:06am
Hi guys,

so are you trading the method exactly as described in the first post now? and only for the two hours of each open etc...
Limitation is a creation of the mind
  • #2,436
  • Jun 21, 2010 6:20am Jun 21, 2010 6:20am
Quoting Bryan
So what happened to that rule????????????????
Bryan,
This is evolving, as with anything, hopefully getting better/improving over time.

Tony,
Thanks for continuing to post screen shots. It does still happen that the "big boys" drop it like it's hot whenever they darn well please, not just at Eur or Gbp opens.

Happy pippin'
Blessings, Monk E.
  • #2,437
  • Edited 11:22am Jun 21, 2010 8:27am | Edited 11:22am
so am i right in saying, you use the method for >8 pips bars at support or resistance etc on the 5 sec charts.. and also enter in the price direction on the 5 sec charts at london and ny opens? regardless of bar sizes.. and using a 3 pips stop moving when 8 pips in profit for the initial method and 2 pip stop for the london/ny open entries? is this right?
Limitation is a creation of the mind
  • #2,438
  • Jun 21, 2010 6:09pm Jun 21, 2010 6:09pm
Quoting frenz
Other than that 5 10 sec tf are the way forward
On GJ its possible to take 40 -60 pips in a 15 min candle if you play the longs and the shorts using 5 and 10 sec tf

.
Can you elaborate on the 2nd point?
  • #2,439
  • Jun 21, 2010 11:49pm Jun 21, 2010 11:49pm
I just traded using this and got

4 loss
0
0
-3
-3

Then 2 wins
+25
+15

and that is in the asian session... I trade high TF PA but find this one less stressful to me, in a sense that I can move my SL to zero in a matter of secs to mins .
  • #2,440
  • Edited 1:17am Jun 22, 2010 1:03am | Edited 1:17am
Quoting schnitzeltra
so am i right in saying, you use the method for >8 pips bars at support or resistance etc on the 5 sec charts.. and also enter in the price direction on the 5 sec charts at london and ny opens? regardless of bar sizes.. and using a 3 pips stop moving when 8 pips in profit for the initial method and 2 pip stop for the london/ny open entries? is this right?

Hi schnitzeltra,

No two traders are going to get exactly the same fill using this method.


I don't use exactly the same entry criteria as Tony.

I have played about with the basics and made the method fit my own style.

Using Tony's method on the Gbp/Usd you would be short now from the Frankfurt open 3 minutes ago.

Warning, Gbp/Usd could about turn at the UK opening in 54minutes time as the market approaches 1.4700.
Regards,

BabeFX.
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