Central Banks & Big Players

Please let me know how to trade this...

my only confusion is when to enter.. it says "initial direction of open" but is this like the virus system.. do I need a 5 SEC candle of 4+ pips to get in?

Thanks!



Cant wait.. I am very interested in giving this a shot.. because the risk to reward this system offers it is probably one of the best breakout strats freely available..

This is what I have been using to enter, newyear good luck, I have not hit it big yet, but I am always asleep for the new york open.

Jmag would you share your EA with me for the new york open, I would greatly appreciate it, thank you very much in advance.

where is the system can't see it anywhere ?

I trade it manually on Oanda. I was just saying an EA would be nice.

The entry: At NY and London open, when price has moved at least two pips from open, enter in that direction, and get to break even as soon as possible. Like Tony says he will move it by a half a pip at a time. I am at break even by +3 pips or sooner.

I am seeing how it goes changing my stop to 1.5 pips, which Tony had mentioned before too, because when it goes against me with spread it is taking 3 pips which turns out to be about 1.3%.

Hey Tony,

Could you tell me, what is your win ratio like? How many times are you able to breakeven and make profit?

I don't think he can answer that? It just depends.. this November there were a ton of trades.. some other months you don't get any!

It is funny, the two first pips was up at my broker, but I entered short by acsident. Just a luck. It looked like it will move that way the last minute before open.

Short @ 1.31587 and covered

Pity 1st 2 pips went up.... nice move down now...

Yes, it must have been close. My On Stop long order was at 1.31637 before it reversed.

short 1.31599

It is actually logic that price got down, not only because the overall trend is down, but also because price was at resent high,- which worked as resistance. But I don`t think that it has any value to improve the method, as long as the stop loss is small. And it can go either way.

Did I take the wrong side?
My 1st 2 pips was clearly up...
Short looks good now!

My long order was based on the opening bid price plus the 2 pips and the spread at the open.
My open was 1.31611 and since my order was 1.31637 the spread must have been 0.00006. I believe the high bid on my platform was 1.31632 so the bid pushed up but not the ask. I was just lucky to not get done. As for the others perhaps a bit of discretion sneaking in there.
cheers

Thanks!
I enter manually so as soon as I see 2 pips in a direction im in.
You explanation makes very good sense

Where is Tony....

If someone followed this thread since the beginning... can he tell us in what frequency we have a big winner ?


The important fact about this method is we can have long periods of loses because of the %loosing trade.

So it's important to lock profits on medium wins to reduce these periods of loses.

You can't be very exposed with a system in loses most of the time.

see my paint illustration

You don't have any experience trading this method? So why would you say follow my advice? Wouldn't you want to trade it for awhile before making such a statement? Tony has been trading for almost 10 years? He has traded this several different ways. In the end, he decided waiting for that big win is the best way and most profitable. Why try and change something that is working?

That's why 95% fail. They can't accept the fact its good enough so they start changing things up before they even give it a chance. My advice to you and everyone following this thread. LEAVE IT exactly how it is. Tony is trading for a living using this strategy alone, you make 2 trades a day, right after you make the trade you can leave. You can't get much simpler than that. LEAVE IT BE!

That's just my opinion though, but... if you decide you don't want to, change it up and let me know when you're trading for a living.

(p.s. Don't take this as a rude comment. I'm just stating my opinion to, so don't get offended by waht I say plz, from my experiences that's what I've always done, taken a good strategy and thought I should tweak it up, in the end... it's not worth it! K.I.S.S )

i'm here! spending too much time partying

oanda spread is been stuck at 1.2 for days now I will quit them