Central Banks & Big Players

Ny - WINNER

Today's trades:

London Open ... Short ... +2 SL hit.

New York Open ... Short ... SL is now at +2 ... trade is still open. Fingers crossed.

Edit: Neither did NY Open made it to an Epic Win.

I was very surprised reading this thread !!! I am not very confortable with this type of trading because I think (but it is only my opinion) it is too hard to be very profitable with that on the long term because of spread. Also, you say that 110 consecutive losses cant happened : WHY ? The probability is certainly low but it may happened : none can master the market! Also I want to ask you why you fix a target at 140 pips ? Why not 100 or 150 for example ? Also do you have a backtest available for this technique ? In conclusion, I am very curious about your system, eventhough it is not my style....But as it is well rated, I would have to try another style maybe ?

ok I'm looking to get a free pip or two at around 84.00 levels on USDJPY if we get there............

I don't think anyone did a detailed backtest. A backtest is only possible using Oanda's 5 sec tick data. I don't have it.

Anyday, getting pass the initial hurdles - spead, mini-whipsaws - and getting the trade to breakeven is a win to me. An epic win will feel like a miracle.

fail

Hello there!
I just got a very kind request for someone whose able to monitor London and NY opening times. Could someone please post 5sec charts of first 30-45 min of the above mentioned sessions on daily basis.
Im not able to do it myself. I save all posted charts for analysis purposes but its only few a week. I know that we don't get PA as we would like all the time but it would really help me probably along with others too.

Thank you in advance.

I think the probability of 100+ losing trades is quite high. This System could easily go 6 months without a win. You would have to keep the position size so tiny to survive the drawdown that the epic wins everyone is talking about really arent going to be that epic.
That makes it extremely difficult to follow psychologically. That is the reality of trading. There is no easy way. It might still be profitable but anyone with the psychological stamina to follow this system will have earnt every penny.
Central Bank traders do not turn on there pc,s and decide to shift the market from that point in time. They do not have the power to do this. The fact is, these traders are trading against each other, every large sell position has a big playing bull on the other side of the trade and vice versa. These traders have opposite opinions on what direction the market will take with the reality being no one knows what is going to happen. The ensuing battle between bulls and bears is messy giving a 2 pip stop only a remote chance of surviving.

Hey Tony

Its a great idea, to enter with Momentum surges, but I think a better entry must be found.

I have written an auto trade bot which enters the trade following your current rules, but the entry does not last long and out mostly BE (OA Data).

An observation is to use the Market open (open price gmt 08:00:00) as a test price, for instance today 1/9/10 the market opened tested the "support" bounced tested again then broke through. Perhaps a retry of the Market open Support/Resistance would make a better mechanical entry. IMHO this would get rid of a lot of whipsaw entries.

Just my 2pence worth.................................

MickyPIP

Ps Interesting thread...

Lets us all hope this is the epic win! NY 30pip +

BE
max 40 pip win

gave 2 generous attempts at ny

I'm currently floating at around 15 pips...


last London open had a maximum opportunity of 40 pips before returning to BE


let's see what happens with this one, I'll probably still be in the trade in 9 minutes when the news comes out

-2 london open

Jonestown, buddy. Drink the Kool-Aid or move along.

Today's trades:

London Open ... Long -2 SL hit

NY Open ... Short ... SL moved to +2 ... trade is floating at around +6/7 pips

G'nite!

Update: NY Open Short closed at +2 SL.

How many losing trades would have become winners starting the trade with a slightly higher SL? Maybe 3 to 5 pips or so?

London open GBPUSD +17 pips.
Bought it on retracement of previous 4 pip candle. Initial TP was resistance @ 1.5425 but got cold feet and took what was available.
I also missed first entry at 08.01 gmt. Would have been very nice winner (+40 pips).

Just little thought about 100pips+ epic wins. I think we would quicker achived that 100 pips taking 20-30 pips profits. Once that has been reached we can increase trade size and look for another 100 pips and so on. What do you think?


Tony: thank you very much for sharing that strategy with us and for all the effort you make (and you have made). You're a star!

Frankfurt open.




Although I didn't trade it but we could have got few pips on both. With london open on gu we would not have been too far from... 100 pips ?

Don't get me wrong. I don't get overly excited but I think this strategy is viable and with proper money management we will come out on top.

Just got to be picky and not trigger happy (only my humble opinion)

The pc is broken, I'm trading on SafeMode its ridiculous

London open. +1 and -7 for today on GBPUSD. Got stopped out on short as price was moving away from 1.55 and suddenly shot up. I use 4 pip SL and price went 3 pips pass that and took me out for 7 pip loss.

Got a question... how often does it happen to you and what was the worst slippage you ever experienced ?