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  • #3,661
  • Jul 30, 2010 2:17am Jul 30, 2010 2:17am
I missed LO this morning due to chatting to colleagues! I'll have to be a bit more disciplined in the future!
  • #3,662
  • Jul 30, 2010 2:17am Jul 30, 2010 2:17am
Lol - i know was a little joke - but seriously have you ever had any trouble with them as broker - screen/platform freeze, account problems etc?
  • #3,663
  • Jul 30, 2010 2:18am Jul 30, 2010 2:18am
i think all those of you who are getting impatient about losses, b/e stop outs etc are missing the point of this system and your impatience might lead you to more losses.

i think tony can tell us on average the monthly success on this system. off the top of my head, in a month, you should be able to have anywhere from 20-60% growth on your account, if you follow the system rigidly and not start compounding your trade order size after one win or one loss.

my 2 cents.

tony/commander, what you say?
  • #3,664
  • Jul 30, 2010 2:18am Jul 30, 2010 2:18am
has any one got any statistics on how many times the candles reaches 10-15 pips please

P
  • #3,665
  • Jul 30, 2010 2:19am Jul 30, 2010 2:19am
Quoting Ausie
No problems for me....good price, though always take in mind they are MM
That worries me a little, thats why i ask for ppl using this system to comment because i think they would hate to see a scalping system like this doing good/making money...
  • #3,666
  • Jul 30, 2010 2:23am Jul 30, 2010 2:23am
sheesh commander!!! dont forget the down payment on that island in barbados!


Quoting DanUK
I missed LO this morning due to chatting to colleagues! I'll have to be a bit more disciplined in the future!
  • #3,667
  • Jul 30, 2010 2:28am Jul 30, 2010 2:28am
EUR hit SL and inmediately go again down, down, down........
  • #3,668
  • Jul 30, 2010 2:33am Jul 30, 2010 2:33am
2 pips, only 2 pips higher my SL, and now +30 pips.......
  • #3,669
  • Jul 30, 2010 2:35am Jul 30, 2010 2:35am
Quoting Caillou
2 pips, only 2 pips higher my SL, and now +30 pips.......
me too
  • #3,670
  • Jul 30, 2010 2:42am Jul 30, 2010 2:42am
Quoting coolshades
i think all those of you who are getting impatient about losses, b/e stop outs etc are missing the point of this system and your impatience might lead you to more losses.

i think tony can tell us on average the monthly success on this system. off the top of my head, in a month, you should be able to have anywhere from 20-60% growth on your account, if you follow the system rigidly and not start compounding your trade order size after one win or one loss.

my 2 cents.

tony/commander, what you say?

Hi coolshades,

Yes if you were able to actually stop out at BE on every missed opportunity that would be fine, but in a the real world this cannot happen.

If you trade this method & risk 5% of account value on just 2 pips as Tony appears to do, how long do you think you account will last ?

Wise up folks, to make profit consistently you have to manage your risk better than this.

The man strength of this method rests not only in the significance of the 1st few minutes after the opening, but in the price set at the open.

I am not prepared to elaborate on this as I have mentioned this in previous post's.

Good luck folks

BabeFX
  • #3,671
  • Jul 30, 2010 2:42am Jul 30, 2010 2:42am
+ 50 pips now, maybe a 140 pips missed....
  • #3,672
  • Jul 30, 2010 2:43am Jul 30, 2010 2:43am
Very frustrating isn't it...that's the nature of this beast.
  • #3,673
  • Jul 30, 2010 2:44am Jul 30, 2010 2:44am
Quoting Caillou
+ 50 pips now, maybe a 140 pips missed....
Man i hope this isnt the big fall from 1.30 that we have been waiting on because we have all missed it by 2 pips LMAO
  • #3,674
  • Jul 30, 2010 2:45am Jul 30, 2010 2:45am
Quoting lovejoy80
Very frustrating isn't it...that's the nature of this beast.
Yes, Forex is the most frustrating work...........
  • #3,675
  • Jul 30, 2010 2:47am Jul 30, 2010 2:47am
I hope EUR starts going UP, please for my mental health.....
  • #3,676
  • Jul 30, 2010 2:51am Jul 30, 2010 2:51am
Quoting coolshades
i think all those of you who are getting impatient about losses, b/e stop outs etc are missing the point of this system and your impatience might lead you to more losses.

i think tony can tell us on average the monthly success on this system. off the top of my head, in a month, you should be able to have anywhere from 20-60% growth on your account, if you follow the system rigidly and not start compounding your trade order size after one win or one loss.

my 2 cents.

tony/commander, what you say?
I don't know the long term hit rates but from my own research I would figure at least one 100+ winner per month. At that rate, even if you took every other trade at a -2 loss (i.e. no breakeven trades) you are talking about 288% profit per year (at 2% risk per trade, not taking compounding into account for simplicity). That's good stuff!

Regards,

Dan

Of course it may turn out that you get less than one big win per month... but still promising.
  • #3,677
  • Jul 30, 2010 2:59am Jul 30, 2010 2:59am
i am not sure what you are trying to say. on the one hand you seem to believe that the system works and on the other are disputing what i said.

i stand by what i said.

tony shoots for 140 pips. i dont think thats a realistic target with due respect to tony. however a 100 point target is eminently achievable.

now, there are 40 trades a month.if you take ALL trades and end up with one 100 point winner and rest are all losses, this is the maths:

profit pips - 100
loss pips - 78

net profit pips 22.

now tony trades 5% per 2 pips or so you say. but tony does trade a high 5 figure account. most other traders on this thread, i bet, are trading much smaller accounts. i myself trade a micro account for this.

i risk 1% per 2 pips.

for my 1%, i end up getting 11% in the above equation/month.

now you might argue that one might not end up getting 100 pip winner and often times one might end up closing at 50 -80 pips whatever. and i will grant you that.

however i will also add that not all other 39 trades will be a loss. there will be many break evens.

hence my maths stands, though i will qualify that to say 10-60% growth a month.

now this basic system can be adapted by a trader to suit his own style. i can see a modified system wherein instead of waiting for the 100 point winners, traders exit at 2-3% account growth at each trade if feasible.

ie: if you are risking 1% at 2 pips, then you might close at 4points and take 2% or 6 points and take 3%.

simple compounding will tell you how those smaller % exits will add up. yes, there will be losses, but the addups will happen inspite of the losses.



Quoting BabeFX
Hi coolshades,

Yes if you were able to actually stop out at BE on every missed opportunity that would be fine, but in a the real world this cannot happen.

If you trade this method &...
  • #3,678
  • Jul 30, 2010 3:00am Jul 30, 2010 3:00am
Hey, guys, cool down

Let's make statistics and see what we have to improve,
if we need to improve anything at all.
My stats for this strategy so far:

Date LO NYO
23.07. 0SL 0SL
26.07. 0SL 0SL
27.07. 0SL -3.1
28.07. 0SL -2.0
29.07. 0SL -2.2
30.07. +2.1
  • #3,679
  • Jul 30, 2010 3:11am Jul 30, 2010 3:11am
Tony can't trade 5% risk with 2 pip SL, because his broker allows max leverage only 1:50.
  • #3,680
  • Jul 30, 2010 3:15am Jul 30, 2010 3:15am
And EUR doooooown, +60 pips......
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