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  • #3,521
  • Jul 28, 2010 2:55am Jul 28, 2010 2:55am
Quoting Crunch
Tony, you fucking crack me up bro. I love this thread, not just for the pips, but for the awesome Tony posts.

Not gonna lie though, when you guys were 20 pips in profit, there were many signs the price would drop. If I were you, I would look for signals of momentum loss, and try and take those 20 pip profits, reason being, this system rarely wins big, so if you can take some smaller wins here and there, it will create some bigger profits in the long run.

BUT

only cut profits if there are CLEAR signs that it will not continue in the direction....

Thanks I'm just being Tony .... and as for your reasoning I understand you but am very hard to convince because I have learned to believe that price moves in chaos and can't be predicted only protected... that is why i sometimes leave my computer once a trade is on.. but I do understand your reasoning
Invest in alarm clocks
  • #3,522
  • Jul 28, 2010 3:01am Jul 28, 2010 3:01am
do you guys think we might be going for 1.2900?
Invest in alarm clocks
  • #3,523
  • Jul 28, 2010 3:03am Jul 28, 2010 3:03am
Im posting this for my own lesson...see this big candle... that is the reason why I sometimes don't want to trade those big candles... and I'd rather enter at the open for a safer entry.... and still nice volatility
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Invest in alarm clocks
  • #3,524
  • Jul 28, 2010 3:11am Jul 28, 2010 3:11am
There's clear sign that euro will go down very soon (couple of hours). Sharp retrace from 1.3040 level and double top. And right now euro is under Frankfurt and London open.
  • #3,525
  • Jul 28, 2010 3:14am Jul 28, 2010 3:14am
Quoting Tony112
Im posting this for my own lesson...see this big candle... that is the reason why I sometimes don't want to trade those big candles... and I'd rather enter at the open for a safer entry.... and still nice volatility
Hi Tony,

How do you choose which long candle to trade?
  • #3,526
  • Jul 28, 2010 3:23am Jul 28, 2010 3:23am
Here's picture
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  • #3,527
  • Jul 28, 2010 3:24am Jul 28, 2010 3:24am
Quoting bigijs
There's clear sign that euro will go down very soon (couple of hours). Sharp retrace from 1.3040 level and double top. And right now euro is under Frankfurt and London open.
As far as I'm concerned the EU is impossible to trade right now.

Absolutely no momentum in either direction. If you open up bollinger bands on the H1, and plot R/S levels on that TF as welll... you can see where the price is stuck. All MAs are basically horizontal. Don't trade this pair right now IMO. wait for the NY open.
  • #3,528
  • Jul 28, 2010 3:34am Jul 28, 2010 3:34am
Quoting Crunch
As far as I'm concerned the EU is impossible to trade right now.

Absolutely no momentum in either direction. If you open up bollinger bands on the H1, and plot R/S levels on that TF as welll... you can see where the price is stuck. All MAs are basically horizontal. Don't trade this pair right now IMO. wait for the NY open.

Yeap, that would be against the trend and we don't wanna do that (shorting).
  • #3,529
  • Jul 28, 2010 3:40am Jul 28, 2010 3:40am
Quoting bigijs
There's clear sign that euro will go down very soon (couple of hours). Sharp retrace from 1.3040 level and double top. And right now euro is under Frankfurt and London open.

Hi bigijs,

Right. But how are you going to trade it ?

You could wait for a bounce of the resistance line created by the London open & then place a stop just above this level.

Once you have learned the significance of, & how to trade the 3 main opens of the day you will always make money. Waiting for a 1 pip move is a complete waste of time & effort.

Regards.

BabeFX.
  • #3,530
  • Jul 28, 2010 3:50am Jul 28, 2010 3:50am
Quoting Tony112
welcome! oanda charts are simple but good... simple is always good
Thnx Tony!

So far i Stoped out at BE, but better than a Lose even a minimalstic like 2 Pips. So my Peak High was about ~ 30 Pips floating Profits for these Trade.

See whats next on NY open.

greetings
  • #3,531
  • Jul 28, 2010 3:58am Jul 28, 2010 3:58am
i've a question:

very often i see we're floating at +30...

and very often, after that, it retrace to Be..

but.. if we look for a target of 30 or 50, in my opinion we will gain much more than if we look for a gain of 140...

am i incorrect??


sorry for my bad english!!
  • #3,532
  • Jul 28, 2010 4:12am Jul 28, 2010 4:12am
Quoting dnabrasil
i've a question:

very often i see we're floating at +30...

and very often, after that, it retrace to Be..

but.. if we look for a target of 30 or 50, in my opinion we will gain much more than if we look for a gain of 140...

am i incorrect??


sorry for my bad english!!

Hi dnabrasil,

Why not split your position, say half with a take profit at between 21 to 34 pips, the other half at 100pips. Stops as before on both positions.

Regards,

BabeFX.
  • #3,533
  • Jul 28, 2010 4:38am Jul 28, 2010 4:38am
Allow me to point out the advantages of having "floating" trades on the NY opens with this system. During Non-Farm Payrolls reports at 8:30 and many other news coming in the morning it will be ideal.
Invest in alarm clocks
  • #3,534
  • Jul 28, 2010 4:50am Jul 28, 2010 4:50am
I found entries are the most difficult part, it's a question on practice.. finding the right moment because SL is tight you can't do it wrong. Isn't it Tony ?
  • #3,535
  • Jul 28, 2010 4:56am Jul 28, 2010 4:56am
Quoting Walcott
I found entries are the most difficult part, it's a question on practice.. finding the right moment because SL is tight you can't do it wrong. Isn't it Tony ?
I think that entries are not the so difficult. The most difficult are exits for me. You can leave it for Pt 140 PIPS or you can take some pips if you think that market is turning reverse... So thats what I should practicing
  • #3,536
  • Jul 28, 2010 6:02am Jul 28, 2010 6:02am
Quoting BabeFX
Hi bigijs,

Right. But how are you going to trade it ?

You could wait for a bounce of the resistance line created by the London open & then place a stop just above this level.

Once you have learned the significance of, & how to trade the 3 main opens of the day you will always make money. Waiting for a 1 pip move is a complete waste of time & effort.

Regards.

BabeFX.
Hi BabeFX,
There are many possible scenarious how to trade that kind of setup. Personally I am not pleased to trade agaisnt the 1H, 4H trend. So, in this kind of situation I would wait for significant drop and then would open long position in an appropriate setup.

But let's stay focus here on Tony method
  • #3,537
  • Jul 28, 2010 7:03am Jul 28, 2010 7:03am
-2 on NY long
  • #3,538
  • Jul 28, 2010 7:04am Jul 28, 2010 7:04am
Are you short guys?

I'am from 1.30043 and on BE now.
  • #3,539
  • Jul 28, 2010 7:04am Jul 28, 2010 7:04am
-2
  • #3,540
  • Jul 28, 2010 7:06am Jul 28, 2010 7:06am
Me too short now at BE.....
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