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  • #3,921
  • Aug 5, 2010 2:12am Aug 5, 2010 2:12am
I don't know about not being able to put in an EA for it. The rules aren't hard set at 1 pip I don't believe, and in cases like today, waiting for 1.5 or even 2 pips in one direction would be beneficial. An EA that had a setting that could be changed for this would be invaluable.

If not for slippage I'd still be in the long trade at this point. Sad panda.
  • #3,922
  • Aug 5, 2010 2:15am Aug 5, 2010 2:15am
Quoting coolshades
it was. open at 1.31244 close at 1.31234. high and low at same.
Meh, benefit of hindsight after the candle had already closed and moved on. My eyesight aint what it used to be I guess lol

Might help to code an indicator that can be set to show the market opens, blows up the actual market price and shows how many pips it's moved since the candle's open in real time.

Or maybe I should just get laesic ^.^
  • #3,923
  • Aug 5, 2010 2:16am Aug 5, 2010 2:16am
Long, stopped out at BE
  • #3,924
  • Aug 5, 2010 2:19am Aug 5, 2010 2:19am
So, who's all braving the NY open 30 minutes before NFP?

ECN = potential slippage, and there's no way to gaurantee that a stop won't slip. I'm frankly not up to the task I don't think.

Idly wonder if Tony's ever gotten an epic win off NFP friday.
  • #3,925
  • Aug 5, 2010 2:19am Aug 5, 2010 2:19am
am a bit surprised you and I are the only ones experiencing slippage.

Quoting DanUK
Ah I see what I did... cocked up again! I seem to be loosing my ability to trade 5 second charts!!! I traded at 8:01 not 8:00... what an idiot!
  • #3,926
  • Aug 5, 2010 2:25am Aug 5, 2010 2:25am
I might try London Open on NFP because it is well before the data comes out - but in general i never trade it especially not just after the data release for fear of slippage etc...
  • #3,927
  • Aug 5, 2010 2:34am Aug 5, 2010 2:34am
My concern is that:

A. Price action can sometimes be highly anemic prior to the release, leaving price dangerously close to the open, and of course...

B. If the market reacts violently and turns fast enough, it's possible to have a stop slip for 10 or more pips. That would be a big hurt depending on how many lots you're trading.

I'll be up to watch it and lend moral support I guess lol
  • #3,928
  • Aug 5, 2010 2:37am Aug 5, 2010 2:37am
Quoting Leviathan
I'll be up to watch it and lend moral support I guess lol
Lol me also
  • #3,929
  • Aug 5, 2010 3:00am Aug 5, 2010 3:00am
Quoting coolshades
am a bit surprised you and I are the only ones experiencing slippage.
perhaps we're the only ones brave enough to admit it lol!
  • #3,930
  • Aug 5, 2010 3:01am Aug 5, 2010 3:01am
Quoting Leviathan
So, who's all braving the NY open 30 minutes before NFP?

ECN = potential slippage, and there's no way to gaurantee that a stop won't slip. I'm frankly not up to the task I don't think.

Idly wonder if Tony's ever gotten an epic win off NFP friday.
I don't think I will. I'll trade the London open but NY looks too risky for me!
  • #3,931
  • Aug 5, 2010 3:08am Aug 5, 2010 3:08am
Quoting haventaclue
I went long also but not by mistake...

First bar was short but i sometimes wait for a confirmation bar on 2/3rd bar..

When i seen next bar LONG - 3 pips Vs Short bar 1 pip - i went long...

That is why this system cant be EA coded....

That's not following the rules though?
  • #3,932
  • Aug 5, 2010 3:10am Aug 5, 2010 3:10am
Quoting DanUK
perhaps we're the only ones brave enough to admit it lol!
You can limit the slippage with upper and lower bounds but might not get filled if the slippage exceeds the boundaries.
  • #3,933
  • Aug 5, 2010 3:19am Aug 5, 2010 3:19am
Quoting Leviathan
My concern is that:

A. Price action can sometimes be highly anemic prior to the release, leaving price dangerously close to the open, and of course...

B. If the market reacts violently and turns fast enough, it's possible to have a stop slip for 10 or more pips. That would be a big hurt depending on how many lots you're trading.

I'll be up to watch it and lend moral support I guess lol
LOL, and the rest!!

Worst slippage I've every had on NFP was 140 pips. Was a while back now though.

G-Man
  • #3,934
  • Aug 5, 2010 3:32am Aug 5, 2010 3:32am
I have pre-programed a SL of 1.5 pips, even then I usually have a stop that is more than 2 pips. If it is I then move it to to its proper place.

Best -JoelD
  • #3,935
  • Aug 5, 2010 3:49am Aug 5, 2010 3:49am
pls explain. not understood. also are you on oanda?


Quoting JoelD
I have pre-programed a SL of 1.5 pips, even then I usually have a stop that is more than 2 pips. If it is I then move it to to its proper place.

Best -JoelD
  • #3,936
  • Aug 5, 2010 3:52am Aug 5, 2010 3:52am
Quoting coolshades
pls explain. not understood. also are you on oanda?
I'm assuming he's running MT4 (Metatrader 4) charting platform and has a script or EA that he drags to his chart to help manage the trade. MT4 only has either tick chart or 1 min, not 5 sec charts like Oanda, so I then assume he's running both side by side. He could post it here for others to use if he so wishes, it's a simple procedure to install.
  • #3,937
  • Aug 5, 2010 3:59am Aug 5, 2010 3:59am
ok. does not work for me since i am on oanda exclusively.

re your earlier post about rules, yes not taking the 1st 1 pip bar is not according to the rules. however you will find that the majority of the traders who follow this system are pretty subjective in their entries and like any other system, the majority will try 'optimise' the system, and then hop on to another system and the cycle will continue.

i know of only 2-3 traders on here who rigidly follow the system, one of them being commander and the other Tony himself. with Tony, i think he trades another form of entry too and sometimes his posts of an entry are not necessarily the 1st 1 pip 5 sec bar entry.



Quoting PA Trader
I'm assuming he's running MT4 (Metatrader 4) charting platform and has a script or EA that he drags to his chart to help manage the trade. MT4 only has either tick chart or 1 min, not 5 sec charts like Oanda, so I then assume he's running both side by side. He could post it here for others to use if he so wishes, it's a simple procedure to install.
  • #3,938
  • Aug 5, 2010 4:13am Aug 5, 2010 4:13am
With Tony, is anyone still in since NY yesterday Open ? How can you manage TP now? For me, itīs very difficult to be 100 pips floating 2 hours ago and now only 30. You follow the strict rule 140 or nothing?
  • #3,939
  • Aug 5, 2010 4:28am Aug 5, 2010 4:28am
Yes i am. Sticking to the rules.
  • #3,940
  • Aug 5, 2010 4:28am Aug 5, 2010 4:28am
commander and i follow 100 point exit. both of us have posted about this .

Quoting Caillou
With Tony, is anyone still in since NY yesterday Open ? How can you manage TP now? For me, itīs very difficult to be 100 pips floating 2 hours ago and now only 30. You follow the strict rule 140 or nothing?
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