Central Banks & Big Players

It fades into obscurity so you have to go looking for it.
http://www.forexfactory.com/showthread.php?t=222230
post on that thread or PM me please if you have any problems.
cheers

Tony please tell something about pip restoring :-) do you use also 2 pips SL or just you are going for 1 - 2 pips PT without Stoploss?
Thanks for answer even it is gambling philosophy...

regards

FAIL

London Open FAIL

NY Open FAIL

I believe I may know how Tony recovers the small pip losses. After a losing trade, it's possible to simply take the next trade and move it to +3 pips once price has gone past the BE stop by say 5 pips or whatever. That way if you have another fail day, which most days are fail days, the small win will help recoup the small loss.

Is that what you're getting at Tony? If so, is there any way we can get that plugged into the EA? That EA is absolutely awesome, been playing with it for a couple days now.

do we need 1 or 2 pip candle to give us direction?

The current method entry is just at a two pip movement from open. It doesn't have to happen in a candle. Just two pips however it gets there. It could go the other way a pip then come back 3 bars later, etc.

are u sure?

Well dern it's the way I've been trading it but now all I'm seeing for entry on first post is initial direction. So I'm not sure lol. Isn't everyone entering on a 2 pip move? Tony? Gang?

lol... why question him? If you're not going to listen to him look throuh the thread yourself. Almost every page someone has asked. Just look back a few page, it's really not that hard O_O

I like this method, but simply do not want to dedicate my time to it right now..

but if I was to trade it, I think you would benefit greatly from some fundamental analysis to figure out where the central banks are going to be putting there money..

or

use the gbp/jpy

that pairs almost always rally at the open of london in the direction of the Nikkei 225 and at new yorks open in direction of the dow

you would atleast have a way better indication of where price is going and be able to filter out false signals


just a suggestion.. but I think even the one about gbp/jpy is a very good one that would provide better results.. like nikkei 225 is up 300 points.. why even bother going short.. wait for the up rally

gbp/jpy : Spread is to big

Gbp/jpy may move well for it but we get wet feet on this method with spreads over 1 pip.

I've noticed tony is a stickler about anything over .9 spread which is not necessarily bad.. its just I personally would trade a larger spread if I had a more directional outlook.. you'll just need to do 2 pips plus spread

in my opinion waitin for the Nikkei 225 to have a huge upmove.. well paying that extra spread for the extra probabilities is a well calculated move.. plus the gby/jpy has a huge range and can make up for that spread,.. a way bigger range than eur/usd .. that range alone might give better odds to hit a 140 pip move

Please correct me on the currencies your trading with this method?

I didn't see listed in original post and tony in 2nd post show USD/JPY?

thanks,

but if you guys are trading eur/usd its scary to try and extract 140 pips from a 200 range average.. now on gby/jpy 140 pips from a 350 range average seems easier since its only half of the average

oh and I'm sure if not gbp/jpy well maybe there is another that moves similar with better spread so maybe you can compensate

Yeah it's just eu.

Hell, if one of you has the time I personally not around for london open.. but if when your trading this at the same time do the gby/jpy only in direction of Nikkei for london and then how dow opens for new york

do it same time you do original method but on a demo.. I think the test would be well worth it on your demo account simultaneously.. at the very least your break evens will be hit way more often and I also suspect your wins to be twice as much as eur/usd

ofcourse its just my rough guess of statistics but even if you can get the statistics of the dow and Nikkei at the open of ever day and back test that would be a good way to compare to the last back test I saw on here

Finally I have finished the padding bars for FlexiChart. Since so many have asked for it on your thread Tony I hope you don't mind.
The screenshot is a 5 second padded chart.
You must use your computers system time by setting that option to true. You can adjust it to match your MT4's server time if you want. I updated the thread on FF and TSD.
cheers all

read it, but this seems to change from time to time, first post rules it´s direction, i read 1 pip and 2 pip in the thread. so only want a confirmation what you are doing .