DislikedStop at BE.... a good MondayIgnored
Big players and Forex 4 replies
DislikedFollowed Tonys thread off and on for a long time, so had a go myself this morning.
Live small test account, 5% risk on 2 pips sl, entry 1.29469.
So I'm still in with around +18.Ignored
DislikedClosed out @ BE.Ignored
DislikedHow do I use this system on a 1 minute timeframe...I have MT4...plz explain..this is a very interesting system.Ignored
DislikedI will make it a habit openly to admit the mistakes I make.
- I forgot to adjust to 0SL on the London opening, but I was lucky enough to capture 6 pips.
- I lost some pips on the New York opening. Why? I didn't treat my trading as a business. When the NY open was a fact, I was sitting on Facebook chatting with a friend. Feelings took control when I realized it had started, and in my desperate attempt to make up for my mistake I lost 2.9 pips.Ignored
DislikedArrrgh! Both EUR and GBP on both London and NY opens had no momentum at all! WTF?Ignored
DislikedAponte, as soon as price starts moving (I prefer a little momentum) jump on board, you could open the tick chart as well in the market watch window, or just look at the price turning up or down, you don't really need a chart just go with the direction, the key thing is to try and get the stop to break even (0SL) asap. As soon as I enter I immediately right click on my open order and click the stop loss button, (The stop is saved from the previous trade), then start to adjust as price moves in your direction.
Price moved against me at NY open today...Ignored
Dislikeddon't try to catch up on a late entry.... let it go and watch it fly in pain, don't worryIgnored
Tony, do you read my backtest ?... If you put 140pips you missed all 4 big moves in last 2 month on London open...
I still cannot understand how you avoid slippage, but I think you push your sl as fast as possible to break even, hoping market won't return to the openprice...so you avoid slippage (and no chance missed on last 4 big moves).
Besides...statistically every 20th trade is a big move... ->chance risk is 1,5 to 2,5... but in practice tony may be make a much better CRR.