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  • #3,441
  • Jul 27, 2010 9:46am Jul 27, 2010 9:46am
no turning back now i think
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  • #3,442
  • Jul 27, 2010 9:47am Jul 27, 2010 9:47am
i don't like the way the EUR's been acting this week, completely discusting
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  • #3,443
  • Jul 27, 2010 9:52am Jul 27, 2010 9:52am
SELL EUR
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  • #3,444
  • Jul 27, 2010 9:54am Jul 27, 2010 9:54am
DISGUSTING im mad now
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  • #3,445
  • Jul 27, 2010 9:55am Jul 27, 2010 9:55am
the trade held for almost an hour
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  • #3,446
  • Jul 27, 2010 10:06am Jul 27, 2010 10:06am
The biggest issue I have with this system so far has been that with my broker's spread of .9, I'm automatically 1 pip in the hole when the trade is opened, and all too often the volitility at session open causes a -2 or -3 pip to register quite quickly, which to my understanding means we close it and call it a loss. I've tried 3 of these trades so far and can't seem to get to break even. (note; I missed this morning's trade)

I'm still understanding that we wait for a 1 pip move up or down at session open and trade in that direction, getting to BE SL once the trade is 5ish or more pips in. Is this correct still?
  • #3,447
  • Jul 27, 2010 10:37am Jul 27, 2010 10:37am
Quoting Leviathan
The biggest issue I have with this system so far has been that with my broker's spread of .9, I'm automatically 1 pip in the hole when the trade is opened, and all too often the volitility at session open causes a -2 or -3 pip to register quite quickly, which to my understanding means we close it and call it a loss. I've tried 3 of these trades so far and can't seem to get to break even. (note; I missed this morning's trade)

I'm still understanding that we wait for a 1 pip move up or down at session open and trade in that direction, getting to...

correct, sometimes it takes hundreds of fail trades for 1 winner
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  • #3,448
  • Jul 27, 2010 10:46am Jul 27, 2010 10:46am
Quoting Tony112
epic. win.
You're still trading the old system as well then Tony?
  • #3,449
  • Jul 27, 2010 11:04am Jul 27, 2010 11:04am
Quoting DanUK
You're still trading the old system as well then Tony?

yes, the old system snowballled my account from the start, it's not a bad system

the new rules are just better
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  • #3,450
  • Jul 27, 2010 12:49pm Jul 27, 2010 12:49pm
So your trading news reports or just trading the opening few hours when you see an 8 pip candle on the 5 sec chart?

regards

Rump.
  • #3,451
  • Jul 27, 2010 8:37pm Jul 27, 2010 8:37pm
Quoting rumpfunk
So your trading news reports or just trading the opening few hours when you see an 8 pip candle on the 5 sec chart?

regards

Rump.
opening hours, s&r, 5+ pip candles, unexpected news reports all with 0SL

expected news reports = never
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  • #3,452
  • Jul 27, 2010 8:44pm Jul 27, 2010 8:44pm
36 consecutive losses, 1.5 pip average per loss and i still have a smile on my face.... lol, and on top of that i know that on all those entries, half of them shouldn't have been done, you guys know Tony right
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  • #3,453
  • Jul 27, 2010 9:02pm Jul 27, 2010 9:02pm
Any chance we can get you to update the first post with what you've been doing lately, or what the 'new rules' are?
  • #3,454
  • Jul 27, 2010 9:14pm Jul 27, 2010 9:14pm
Quoting Leviathan
Any chance we can get you to update the first post with what you've been doing lately, or what the 'new rules' are?

stilck to the post, don't worry I`m a great gambler too and you don't need to follow that
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  • #3,455
  • Jul 27, 2010 9:35pm Jul 27, 2010 9:35pm
Quoting Tony112
yes, the old system snowballled my account from the start, it's not a bad system

the new rules are just better
Might it be possible to list both sets of rules in Post #1, since you are continuing to trade them, as well as the updated rules? Just a thought to help out the newbies.
  • #3,456
  • Jul 27, 2010 10:10pm Jul 27, 2010 10:10pm
Quoting Chip4Pips
Might it be possible to list both sets of rules in Post #1, since you are continuing to trade them, as well as the updated rules? Just a thought to help out the newbies.


understood, I will but will underline that the first technique is the most profitable
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  • #3,457
  • Jul 27, 2010 10:25pm Jul 27, 2010 10:25pm
Thanks tony

Looking forward to session open tonight.

Also, a quick question about your possitioning. Say you had an account balance of 10k. What's a good lot size to shoot for doing this?
  • #3,458
  • Jul 27, 2010 11:12pm Jul 27, 2010 11:12pm
Quoting Leviathan
Thanks tony

Looking forward to session open tonight.

Also, a quick question about your possitioning. Say you had an account balance of 10k. What's a good lot size to shoot for doing this?

start with 1000$, you should be albe to turn it into 2000$ within a few months and snowball it into 100K with good money management

either way, if you trade WELL you will snowball money.... if you don't manage and trade well, even if you start with 100K, you will lose everything eventually.
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  • #3,459
  • Jul 27, 2010 11:29pm Jul 27, 2010 11:29pm
Well, the dolar amounts I was using are simply for example. With a 1k base line account, I'm wondering what a good $ per pip would be to risk for this. $1, $10, etc. Is it a percentage of your total amount or a fixed dollar amount. That kinda thing.

The MM part of this has been kinda vague.
  • #3,460
  • Jul 27, 2010 11:47pm Jul 27, 2010 11:47pm
Quoting Leviathan
Well, the dolar amounts I was using are simply for example. With a 1k base line account, I'm wondering what a good $ per pip would be to risk for this. $1, $10, etc. Is it a percentage of your total amount or a fixed dollar amount. That kinda thing.

The MM part of this has been kinda vague.


for 1K account your pip size should be 4$
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