Central Banks & Big Players

EUR/USD 5 PIP candle is good, not as much volatility as the GBP

ok sell the eur now

sell more EUR, floating at 7 pips

destroy the eur, sell

failure after failure tonight

trades like this cost me 300-400$ a piece.... makes me sick to see this


this is ill

GUYS YOU'RE GOING TO LIKE THE UPDATE OF THE SYSTEM, a lot of you are going to be very happy

I´m sure Tony, thanks.

Saludos desde España

Hi Tony112,

Try to forget the monetary value of your positions. Try to think in terms of pips gained/lost.

Try splitting your position into two or three units, each using the same stoploss but having three separate take profit targets.

Example: 1st target 4 pips take profit.
2nd target 7 pips take profit.
Remaining position either let run or place a 100+ pip take profit.

Of course you will continue to move all your stops to break even as soon as possible.

Don't get stressed out over relatively small losses.

Regards,


BabeFX.

EPIC WINNER ENTRY

the eur is no exhausted, I do not suggest to continue trading it until New York Open

Welcome

1. Banker Manipulation (there was no support or resistance here)
   
2. Epic Winner Entry
3. 0SL hit
   

cool... can't wait..........

Actually I can't see any major updates on recent Tony's charts. All's the same - waiting for momentum on small TF (5-8 pip candle on 5 sec chart) and entering in that direction with tight SL. So I really don't expect any huge changes in rules.

I agree - that is why I am curious at what this update is because he says it will make us "very happy".

EUR was good on NY open. Anybody aboard on this express?

US Stock Market does not really open until 9:30 NY Time.

I've been riding the NZD/JPY Train.

So may I present you a little thought I developed while I was thinking about, how to choose the right TP.
I took the approach of probability, so here is what I worked out.

I have a chart with the fibonacci sequence as lines on the chart based on the daily open (green line). The first line away from the daily open is 34 pips, the second is 55, the third 89 and the fourth 144.

So I painted these lines on roughly a year of forex (E/U) and counted how often they reach which level. My results are:
Line 1 (34 pips) : 100 %
Line 2 (55 pips) : 94,65 %
Line 3 (89 pips) : 68,45 %
Line 4 (144 pips) : 39,04 %

These figures are by no means highly scientific or something like that, more like a guideline but I think my idea gets clear. After calculating around it showed that Line 3 with 89 pips is "the best" choice (based on how likely you are reaching this level multiplied by profit you would gain ).

Example :
55 pips = +21% to account
probability = 94,65%
out of 15 trade 94,65% reach TP

to the power of = 15 trades and 94,65% reach the TP

100Euro*1.21^(15*0.9465) = 1497.43 Euro
---------------------------------------------------------------
89 pips = +35%
probability = 68,45 %
out of 15 trades 68,45% reach TP


100Euro*1,35^(15*0.6845) = 2178.72 Euro

Again, this is just a guideline and I calculated these numbers very simply.

So when we look at the chart below for example :
We know that Eur/Usd is in an uptrend. Let's say we get a entry near first fibonacci line under the daily open (around 1.27187), then I would set the TP to Line 3 above of the daily open because of the uptrend and my calculated probability . TP would be around 1.28417.

So maybe there is the slightest chance that this will help a single person out there, so I thought i will post this.
If you find any flaws in my post or have any criticism , let me know.

Regards

http://i28.tinypic.com/2v9awpl.jpg

I'm not following you...

* What are you fibbing?
* What entry are you using?
* What stop are you using?