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  • #2,821
  • Jul 16, 2010 3:23pm Jul 16, 2010 3:23pm
I suggest to close half position on 30/40 pips, and half on the next big round number level or pivot point level or S/R.
It makes sens to TP on confluence zone, you can set TP and leave the screen while you increase your chances to be hit.
You can even put a slow trailing stop to secure profits on big moves.

You will see, in long term using, you'll store like 1/3 more profit than a simple 140pip TP.


Put a 140pips TP doesn't make any sens because it's a no-sens level.
  • #2,822
  • Jul 16, 2010 9:37pm Jul 16, 2010 9:37pm
Guys, I know that not a lot of you are on the forum right now. It's Friday night 10:19. I went shopping some new classy shirts and bought a whole bunch of alcohol. Smirnoff nice new apple flavor... you might think its gay but it's refreshing and it's 7%... This week, once again, the account has significantly grown... I missed a new york open costing me thousands of dollars but anyways. I'm currently overwhelmed with joy and we're about to go out with a few friends... long life Central Banks and Big Players 0SL... stay tuned next week for more charts posting.... and who know, we might get a similar entry like the one yesterday! Be safe and enjoy the week-end. Now I'm starting to get tipsy over the Smirnoff and tonight I'm not going to remember where I live after the night... anyways be safe and spend it if you made some money, not all!
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Invest in alarm clocks
  • #2,823
  • Jul 16, 2010 9:47pm Jul 16, 2010 9:47pm
Nice but I prefer Ketel One



Quoting Tony112
Guys, I know that not a lot of you are on the forum right now. It's Friday night 10:19. I went shopping some new classy shirts and bought a whole bunch of alcohol. Smirnoff nice new apple flavor... you might think its gay but it's refreshing and it's 7%... This week, once again, the account has significantly grown... I missed a new york open costing me thousands of dollars but anyways. I'm currently overwhelmed with joy and we're about to go out with a few friends... long life Central Banks and Big Players 0SL... stay tuned next week for more charts...
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  • #2,824
  • Jul 16, 2010 9:53pm Jul 16, 2010 9:53pm
Hi Tony, I greatly appreciate your thread and how it opened my mind to how to trade and PA...I only have a couple of questions for you and I would really appreciate your answer.
How much did your account grow percentage wise since the open of this thread ??? How many times do you expect to hit your tp of 140 (just an expectation based on your experience)?
As I said before I would gladly appreciate your answer, enjoy your Smirnoff !
  • #2,825
  • Jul 16, 2010 9:53pm Jul 16, 2010 9:53pm
Quoting azjeff
Nice but I prefer Ketel One
From the bar at home, serve Smirnoff out of a Ketel One bottle. No one will ever know the difference.
  • #2,826
  • Jul 17, 2010 5:07am Jul 17, 2010 5:07am
Quoting Tony112
I missed a new york open costing me thousands of dollars but anyways.

Hi Tony I hope your not reading this with a bag of ice on your head after last night !

Can you clear up-one point for me..

the New York session started with a loss of 2pips...as it was the 1st candle going with the momentum and it retraced pretty quickly... from your post above it looks as though you enter more than once per opening time...

Is this correct is this how it works or is it more ....one chance at each open and then you wait for another signal when another market opens ?

Cheers

paulus
  • #2,827
  • Jul 17, 2010 5:41am Jul 17, 2010 5:41am
great question paulus, hope tony can clear this up.
  • #2,828
  • Jul 17, 2010 6:14am Jul 17, 2010 6:14am
Quoting Paulus
Hi Tony I hope your not reading this with a bag of ice on your head after last night !

Can you clear up-one point for me..

the New York session started with a loss of 2pips...as it was the 1st candle going with the momentum and it retraced pretty quickly... from your post above it looks as though you enter more than once per opening time...

Is this correct is this how it works or is it more ....one chance at each open and then you wait for another signal when another market opens ?

Cheers

paulus
Direction on NY open was short and you should have got your SL to 0SL before price retraced IMO
  • #2,829
  • Jul 17, 2010 1:18pm Jul 17, 2010 1:18pm
Quoting Paulus
Hi Tony I hope your not reading this with a bag of ice on your head after last night !

Can you clear up-one point for me..

the New York session started with a loss of 2pips...as it was the 1st candle going with the momentum and it retraced pretty quickly... from your post above it looks as though you enter more than once per opening time...

Is this correct is this how it works or is it more ....one chance at each open and then you wait for another signal when another market opens ?

Cheers

paulus
Hi Paulus,

I would just like to reiterate what lovejoy80 said - I believe NY open (although I didn't trade it because I was already in the London trade) would have been a "0SL"/breakeven trade.

Regards,

Dan
  • #2,830
  • Jul 17, 2010 1:46pm Jul 17, 2010 1:46pm
Yes Paulus,

I didnīt take the trade because I was bulllish since London open but if I would entered, it was a 0SL: first movement down, sell, down, BE, up, hit 0SL.....
  • #2,831
  • Jul 17, 2010 2:16pm Jul 17, 2010 2:16pm
ah ok thanks guys

but would you of taken another trade on the New York open after that as Tony said he 'missed the open and missed out on thousands' ??

P
  • #2,832
  • Jul 17, 2010 2:27pm Jul 17, 2010 2:27pm
If I would trade the NY Open, I would not win anything, just a 0SL trade.....
  • #2,833
  • Jul 17, 2010 8:50pm Jul 17, 2010 8:50pm
Quoting Paulus
ah ok thanks guys

but would you of taken another trade on the New York open after that as Tony said he 'missed the open and missed out on thousands' ??

P
I was actually referring on the New York Open of Thursday
Invest in alarm clocks
  • #2,834
  • Jul 17, 2010 8:53pm Jul 17, 2010 8:53pm
Quoting Paulus
Hi Tony I hope your not reading this with a bag of ice on your head after last night !

Can you clear up-one point for me..

the New York session started with a loss of 2pips...as it was the 1st candle going with the momentum and it retraced pretty quickly... from your post above it looks as though you enter more than once per opening time...

Is this correct is this how it works or is it more ....one chance at each open and then you wait for another signal when another market opens ?

Cheers

paulus
Hi,
I was actually referring on the New York Open of Thursday. I prefer 1 try per open, it's better.
Invest in alarm clocks
  • #2,835
  • Jul 17, 2010 9:03pm Jul 17, 2010 9:03pm
Quoting Benjie
Hi Tony, I greatly appreciate your thread and how it opened my mind to how to trade and PA...I only have a couple of questions for you and I would really appreciate your answer.
How much did your account grow percentage wise since the open of this thread ??? How many times do you expect to hit your tp of 140 (just an expectation based on your experience)?
As I said before I would gladly appreciate your answer, enjoy your Smirnoff !

The percentage of growth is not valid in my calculations since I use the money to live... we can approximately have about 1 TAKE-PROFITS of 140 pips per month which is more than enough, giving you an account growth of about 130% per month
Invest in alarm clocks
  • #2,836
  • Jul 18, 2010 3:48am Jul 18, 2010 3:48am
Very interesting system, thanks to all the contributors to this thread.

Sadly, I am still not clear on how/when to trail the stop from 2 to 1 to 0 pips. When trade is +5, move and then +10 move to BE? Or something else? Or just feel your way?

If someone would be kind enough to explain in simple terms, I would be very grateful!

Cheerio
Charlie
  • #2,837
  • Jul 18, 2010 5:42am Jul 18, 2010 5:42am
[quote=FokkerCharli;3881650]Very interesting system, thanks to all the contributors to this thread.

Sadly, I am still not clear on how/when to trail the stop from 2 to 1 to 0 pips. When trade is +5, move and then +10 move to BE? Or something else? Or just feel your way?


Charlie,
when I get to 8 or 9 + pips, depending on how fast price is moving, I move SL to 0 and the when I get to 17 or 18 + pips, I move SL to +1. I haven't heard Tony say he moves SL to BE +1; it's something I do, as I feel no matter what , I like to go home a winner with something, albeit one pip ain't a lot, yet it still is a positive gain for my efforts as opposed to nada.

Hope that helps!
Blessings, Monk E.
  • #2,838
  • Jul 18, 2010 10:55am Jul 18, 2010 10:55am
Hey thanks Tony. Looks like a winning system, look forward to trying it over the next month.
I've been thinking about what would cause this system to fail.
And I think it is strictly in your head. The hard part will be getting thru the losses.
The reason the scalping robots sell so well is they make us feel good. They win 20 times in a row. (small wins).
And when we have a loss, it is big, but it is only one loss. (wipes out the winnings)
But we feel better about it. Because we feel like winners.
Now this system could take 20 losses in a row. So in your head you may feel like a loser. But when it wins it makes up for all of that.
But it is really hard to get your head around taking all those losses.
And everyday you put in your trade and hit the SL and you begin to feel like you are wasting your time.
I think this system is all in the head, and you have to be mentally prepared for it.
I'm looking forward to this. I hope it is what I have been looking for.
  • #2,839
  • Jul 18, 2010 11:14am Jul 18, 2010 11:14am
Tony, I don't understand why there is NOT an EA to do this? Seemingly the enter/exit logic is crystal clear for making an EA.

Please advise, and thanks in advance.
  • #2,840
  • Jul 18, 2010 11:18am Jul 18, 2010 11:18am
I'd like an EA that would allow me to slide the SL on the chart.
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