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Central Banks & Big Players

  • #4,881
  • Dec 6, 2010 9:46am Dec 6, 2010 9:46am
Quoting Walcott
Hi rac,

About risking 1% capital on each trade, I think it's a bit too much consider we can have long period with no win (ie from Aug 4 2010 to Oct 1 2010 = 41 trading day without big winner). It's more about <0,5% if you don't when to have a deep Drawdown.

About the stop loss, I saw it's 2 pips + spread but maybe I'm wrong..

I agree about the other points you highlighted, thx very much for your contribution.
Walcott,
Thanks of noticing that I didn't write it a clear way, what I meant is that when people are new to this strategy, trading live with Oanda is my recomendation, but with a very small risk, 1% opening position, for a total risk of 0.0075% of your account when stopped out.
As far as the SL, I use 2SL maximum loss (1.1 + 0.9) for a risk of 0.75% of the opening position.
Hope this helps.
  • #4,882
  • Dec 6, 2010 10:06am Dec 6, 2010 10:06am
I've been reading this thread and I can say that it makes a lot of sense to trade like this for me, I'll try it on demo and follow Tony and the gang on the quest to the ultimate disco ball. I'll trade NY open only though for now, I'll add LO when the time is right.
  • #4,883
  • Dec 6, 2010 11:11am Dec 6, 2010 11:11am
Quote
I use 2SL maximum loss (1.1 + 0.9) for a risk of 0.75% of the opening position.

2SL seems very tight to me if you include spread !
  • #4,884
  • Dec 6, 2010 1:57pm Dec 6, 2010 1:57pm
Quoting Zen_Leow
Hi all,

As a certain renko system turned down my help recently, I have time to hunt for new systems to help code EAs for and this one caught my eye due to its simplicity and the positive dynamics of it's participants.

Anyway, I made an EA for this method just now but since trading is now closed, I've not had a chance to fully test it. I thought more can help out with the testing process so I'm sharing it here since there seems to be interests.

Inputs Explanation

EA_MAGIC_NUM = 3947947

Every trade opened by this EA...
Is it necessary to run this with a ECN Broker?

What is the max spread to run this successfully?

And last but not least... is there a preferred time frame chart to run this on??

Also... you would happen to have an optimised set file for it would you?

One more thing... can it be back tested in MT4

Thanks
  • #4,885
  • Dec 7, 2010 1:56am Dec 7, 2010 1:56am
the spread is at 1.3, a non-trading environment
Invest in alarm clocks
  • #4,886
  • Dec 7, 2010 2:01am Dec 7, 2010 2:01am
floating +5... 0SL
Took it on Dukascopy
  • #4,887
  • Dec 7, 2010 2:03am Dec 7, 2010 2:03am
why? first candle was down with 1.3 pips
  • #4,888
  • Dec 7, 2010 2:05am Dec 7, 2010 2:05am
No problem on MB, long and covered.
  • #4,889
  • Dec 7, 2010 2:08am Dec 7, 2010 2:08am
Open 1.33364
Went down to 1.33358 ( 0.6 pip)
Then shot up
Dukascopy not as quick as Oanda...got in at 1.33397 (3.3pip from open)
  • #4,890
  • Dec 7, 2010 2:13am Dec 7, 2010 2:13am
it works! Enter @ 1.3342 long alothough i dont have 5sec charts i followed 1 minute and waited to form a candle > 2pips.

Thanks Tony, now let's pray it will go up.

0SL set as well
  • #4,891
  • Dec 7, 2010 2:19am Dec 7, 2010 2:19am
I had the opening bid as 1.33356 and my entry is 1.33385.
I have to say that missing a winner because of spread would not be a good thing. The whole point is to catch the odd winner after all.
  • #4,892
  • Dec 7, 2010 2:44am Dec 7, 2010 2:44am
i´m also at dukascopy and the first 1 pip was short on my live account, do you also trade live?
  • #4,893
  • Dec 7, 2010 2:57am Dec 7, 2010 2:57am
Yes, live account
Go to 1min chart and have look on table (not candle) there u can find open



Quoting hiiqtrading
i´m also at dukascopy and the first 1 pip was short on my live account, do you also trade live?
  • #4,894
  • Dec 7, 2010 3:32am Dec 7, 2010 3:32am
Quoting bigpips
floating +5... 0SL
Took it on Dukascopy
Is it tradable with Dukascopy compared to Oanda, in term of spread, slippage... ?


thx you !
  • #4,895
  • Edited 4:58am Dec 7, 2010 4:03am | Edited 4:58am
Did any one take 100pips in real money? Just curious, I know it wouldn't be according to 140tp rules. Zen thanks for the EA, I really apperciate this, and I am thoughly impressed. I am using it and LOVE having something to forward test without having to wake up too early. BIG PLUS is I think It catches gets in the trade quicker than manual trading so less slipage on this end. Does any one have java programing for MB? "Edit I downloaded MT4 on MB it working." Obviously I am not a programer, but I have a freind that is and I would like to learn as much as I can...Thanks all, and I love the diamond disco ball tony...See you at NY open.
  • #4,896
  • Dec 7, 2010 7:04am Dec 7, 2010 7:04am
Trade accepted at 1.1 spread. Very low volatility today.
Attached Image (click to enlarge)
Click to Enlarge Name: 17.jpg Size: 134 KB
Invest in alarm clocks
  • #4,897
  • Dec 7, 2010 7:04am Dec 7, 2010 7:04am
Quick FAIL for me.

Tony thanks for this thread, I love the idea of huge reward vs very small risk.
  • #4,898
  • Dec 7, 2010 7:05am Dec 7, 2010 7:05am
FAIL
Invest in alarm clocks
  • #4,899
  • Dec 7, 2010 7:34am Dec 7, 2010 7:34am
Hi tony ,

How do I get a 5 sec chart in MT4.
Appreciate your help a lot.

Thanks in advance
  • #4,900
  • Dec 7, 2010 7:37am Dec 7, 2010 7:37am
this time the first 1pip 5sec candle was also down for me, maybe i have to wait for a bigger candle, 1,5 -2 pip ?
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