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  • #4,661
  • Nov 22, 2010 8:22am Nov 22, 2010 8:22am
Quoting beehivesjoe
omg I'm a total tool.. Thanks a lot raider!
you're welcome
  • #4,662
  • Nov 22, 2010 8:53am Nov 22, 2010 8:53am
Quoting raider87

I will have to give you a voucher for this, good job
Invest in alarm clocks
  • #4,663
  • Nov 22, 2010 8:58am Nov 22, 2010 8:58am
Quoting Tony112
I will have to give you a voucher for this, good job
Thanks a lot Tony
  • #4,664
  • Nov 22, 2010 8:58am Nov 22, 2010 8:58am
Quoting dappa
HEY TONY TELL ME SOMETHING, HOW DO YOU KNOW WICH WAY TO TRAde? for instance this morning when the london session opened up, the market went up before it went down. would you have bought or wait for a short candle with a more than 2 pip size before you shorted, its seems random the way you trade, no offense or anything. i cant really see how there is a method or rule its like hey just get in in which ever random way you see the market moving. is that how you trade and hope for the best with a low stop of 2 to the zero pip stop loss? I can see why...

well it's simple, I enter 1 time per open, in the initial directions of the open. as simple as that.... direction is defined by the first 2 pips either buy or sell

then reduce to 0SL
Invest in alarm clocks
  • #4,665
  • Nov 22, 2010 10:08am Nov 22, 2010 10:08am
NY still go down floating +70pips
  • #4,666
  • Nov 22, 2010 10:10am Nov 22, 2010 10:10am
Quoting raider87
NY still go down floating +70pips
damn.. nice! What's your TP raider? I know tony uses 140 tp, how do you determine yours?
  • #4,667
  • Nov 22, 2010 10:17am Nov 22, 2010 10:17am
Quoting beehivesjoe
damn.. nice! What's your TP raider? I know tony uses 140 tp, how do you determine yours?
TP 140pips, with support guy
  • #4,668
  • Edited 2:13pm Nov 22, 2010 1:37pm | Edited 2:13pm
Quoting Tony112
well it's simple, I enter 1 time per open, in the initial directions of the open. as simple as that.... direction is defined by the first 2 pips either buy or sell

then reduce to 0SL
So Tony, this is the only part I am 'confused' with.

You mention "defined by the first 2 pips either buy or sell."

So do you trade like (1) or (2) (please just answer this to get my head sorted)

(1)
Watch the 1 second past open time candle. IF the candle is Green - go Long. IF the candle is Red - Go Short.

-----

(2)
Wait for a candle of size at least 2 pips in size after an open (up or down) and trade in that direction - IF its this method, when does the time limit end to determine the trend direction


Tony please see attatched image and can you clarify? Thank you.

http://img197.imageshack.us/img197/5052/candleo.png
  • #4,669
  • Nov 22, 2010 4:28pm Nov 22, 2010 4:28pm
[quote=JayFX;4190916]So Tony, this is the only part I am 'confused' with.

You mention "defined by the first 2 pips either buy or sell."

So do you trade like (1) or (2) (please just answer this to get my head sorted)

(1)
Watch the 1 second past open time candle. IF the candle is Green - go Long. IF the candle is Red - Go Short.

-----

(2)
Wait for a candle of size at least 2 pips in size after an open (up or down) and trade in that direction - IF its this method, when does the time limit end to determine the trend direction


Tony please see attatched image and can you clarify? Thank you.

http://img197.imageshack.us/img197/5052/candleo.png
You're reading too much into this - Maybe this is the answer you are looking for:

After the market moves 2 pips from the open, trade in that direction.

In this case, it would clearly have been a sell. Hope this helps.
  • #4,670
  • Nov 22, 2010 5:00pm Nov 22, 2010 5:00pm
Quoting FXForLife
i also trade the five second charts. i prefer to use a breach of the 144 Bollinger Bands however as i find this can allow me to find setups all day long. i was hoping to start a thread but can't because of my newbie status. here is a chart:
Hi FXForLife
Had play with the 144 bollinger bands last night in londen session playing the bounce of the uper and lower band, 7 entery ,
1- 2 pip loss,
5- BE
1- 140 pip win.
So look interesting might play again to night.
  • #4,671
  • Nov 22, 2010 7:38pm Nov 22, 2010 7:38pm
Tony or anyone that traded the virus method, does it work? Tony just quit posting on it and I love the strategy, I just don't want to waste my time trying to learn it if the reason he quit is because it doesn't work.

Would love to hear from anyone (hopefully tony ) if this method actually works or not. Thanks!
  • #4,672
  • Edited 6:43am Nov 23, 2010 2:47am | Edited 6:43am
Quoting StephenS
You're reading too much into this - Maybe this is the answer you are looking for:

After the market moves 2 pips from the open, trade in that direction.

In this case, it would clearly have been a sell. Hope this helps.
Can you show me on a chart what you mean, marking it also?

I'm trying to understand how to enter it as I enter randomly - sometimes it matches Tony's entry and sometimes it doesn't which of course will alter the results.

Are you saying you would wait for the candle I marked at 2mins 40seconds in?

I guess my question is- how do you measure the direction?
  • #4,673
  • Nov 23, 2010 6:54am Nov 23, 2010 6:54am
It is not just 70 pips, it is 70 pips at ginormous leverage. Way to go
  • #4,674
  • Nov 23, 2010 7:02am Nov 23, 2010 7:02am
Quoting Salient
It is not just 70 pips, it is 70 pips at ginormous leverage. Way to go

-2
  • #4,675
  • Nov 23, 2010 5:35pm Nov 23, 2010 5:35pm
Didn't you guys hit your 140 take profit on that last london trade!?
  • #4,676
  • Nov 23, 2010 6:55pm Nov 23, 2010 6:55pm
Hi guys, great thread you have here.

I was following it from the days of the 8 pips candle and I came back to it after a few months away.

I started placing orders on Nov 15 (and not on every open) and I made my first 140 pips TP shorting at Nov 22 NYO.

I move SL to 0SL at 8 pips and to +2/+3 at 16/20 pips profit. This way I try to come out with a winner to compensate past/future losses.

I am risking 0.4% per trade, so make your math.

@ beehivesjoe - I didn't place orders on Nov 22 LO and both opens of Nov 23 because of spread > 0.9.

Maybe you can say if I'm doing anything wrong, but for me this is a golden rule.

Also, I don't enter the market if there is economic data at the open.

Forex calendar is a must have to prevent a sudden spread widening at or near the market open.

Regards

L.S.
  • #4,677
  • Nov 23, 2010 8:15pm Nov 23, 2010 8:15pm
Quoting beehivesjoe
Didn't you guys hit your 140 take profit on that last london trade!?
yep 140 pips, it was New York open, a lot of people were not there for the 8am appointment... you have to be serious about this and there is a price to pay for not being it.
Invest in alarm clocks
  • #4,678
  • Nov 23, 2010 8:20pm Nov 23, 2010 8:20pm
Quoting Tony112
yep 140 pips, it was New York open, a lot of people were not there for the 8am appointment... you have to be serious about this and there is a price to pay for not being it.
So if someone had 5 grand and wanted to trade for a living you think by following this method and makig it to EVERY london/New york open in a year or two there account would be big enough to keep doing it and make a living off of it?
  • #4,679
  • Nov 23, 2010 8:22pm Nov 23, 2010 8:22pm
no turning back about 300 pips with no turning back, how many times will we witness this, to bad for all the quitters
Attached Image (click to enlarge)
Click to Enlarge Name: 12.jpg Size: 56 KB
Invest in alarm clocks
  • #4,680
  • Nov 23, 2010 8:25pm Nov 23, 2010 8:25pm
Quoting beehivesjoe
So if someone had 5 grand and wanted to trade for a living you think by following this method and makig it to EVERY london/New york open in a year or two there account would be big enough to keep doing it and make a living off of it?

only under certain conditions: never miss an open and never have a SL bigger than 2 pips. 5k could easily be turned into 25k in a year using tight management, 0SL
Invest in alarm clocks
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