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  • #5,201
  • Feb 1, 2011 4:30am Feb 1, 2011 4:30am
LOL guys look at my avatar picture... it's a copy of what happened
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  • #5,202
  • Feb 1, 2011 4:31am Feb 1, 2011 4:31am
who wants to switch for 8+ pip candle entries on the 5 sec chart?
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  • #5,203
  • Feb 1, 2011 4:43am Feb 1, 2011 4:43am
Quoting Tony112
who wants to switch for 8+ pip candle entries on the 5 sec chart?
  • #5,204
  • Feb 1, 2011 5:43am Feb 1, 2011 5:43am
LOL yea for how long...? we've been getting 3 pip spreads since 2010
Attached Image
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  • #5,205
  • Edited 10:03am Feb 1, 2011 7:39am | Edited 10:03am
hi

i didnt read through all the pages now so i dont know if somebody already did this
i tweaked the code to trade every hour instead of only the 2 sessions
with a traling stop of 5 (chart added) - 10 (reaches more than 50% for the last year) and a widened spread i tested with good results
it also smoothed out the big edges - looks nice but the big wins are missing now and the trades for the last year are about 1200

just some idea
added the tweaked version - only changed a few code parts in 10 minutes so it still looks mostly the same as the original

best regards,
Ramius
Attached Image (click to enlarge)
Click to Enlarge Name: StrategyTester.gif Size: 9 KB
Attached File(s)
File Type: mq4 CBBP_EA_v3-0_everyHour.mq4   38 KB | 851 downloads
----------- The early worm catches the fox ;-)
  • #5,206
  • Feb 1, 2011 8:17am Feb 1, 2011 8:17am
To be, or not to be. That is the question.

I'm supposing to hold my tp's higher, like 350-400, and I've reduced my risk by 1/2, so risk is .5% per trade. This will be approximate drawdown of 10% per month - nice and conservative lol. This will be profitable with only two epics a year with about 20%. I think we could expect more than 2 hits a year adding about 70% each.

Is it worth it? On one hand it sucks waking up a 1AM every night to trade and then at 6AM, but also it only takes a few minutes. The psychology can be tough going so long without reward, but with proper expectations, maybe this is not so bad. Very little screen time.

Right now I would be under 15% draw down since 11/29 hit if only risking .5%, but it is more since my risk was higher for a while.
  • #5,207
  • Feb 2, 2011 1:23am Feb 2, 2011 1:23am
Quoting Tony112
Possible entry was at the beginning of the first big candle also. Things like this breathe life into what this thread was before switching for entries on all opens where we lost a lot of souls and hope.
Hi Tony!

Maybe I understand you wrong? Do you trade the opens or did you change to 8+ candles? I think that the opens are better, because we can only lose 2 times a day. Ok we have only 5-15 win trades per year, but that's more than enough, and we all know that every system has drawdowns!
Erkro
  • #5,208
  • Feb 2, 2011 1:27am Feb 2, 2011 1:27am
Quoting jmag
To be, or not to be....
good management is the key in this
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  • #5,209
  • Feb 2, 2011 1:30am Feb 2, 2011 1:30am
Quoting erkro
Hi Tony!

Maybe I understand you wrong? Do you trade the opens or did you change to 8+ candles? I think that the opens are better, because we can only lose 2 times a day. Ok we have only 5-15 win trades per year, but that's more than enough, and we all know that every system has drawdowns!
Erkro

you're right, both techniques are profitable... one more than the other but which one? well the answer is never the same... why? because market conditions are never the same... the ever changing market conditions.... I will trade the opens but I will have a batch of big candle trades (about 50) that I'm planing to do because I expect the market volatility to be higher in the coming months... we'll see if I can manage this.... I will post the pics just like I did yesterday. Trades will be taken only after the Frankfurt open and NY open for the ones mentioned above of course. Let's not lose hope in the opens but also not forget my first $ was made out of 5+ pip candle entries with progressive 0SL
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  • #5,210
  • Feb 2, 2011 4:59pm Feb 2, 2011 4:59pm
Tony,
I've been reading your 5 seconds L thread and plan to demo trade it for awhile. Thanks for putting that thread together also. Sounds like you're going to combine two or three strategies in your trading.
  • #5,211
  • Feb 2, 2011 7:37pm Feb 2, 2011 7:37pm
this might be helpful if you want to compare brokers spreads: www.fxintel.com
r u ready?
  • #5,212
  • Feb 3, 2011 9:28am Feb 3, 2011 9:28am
ECB Press Conference comments
Attached Image (click to enlarge)
Click to Enlarge Name: f9.jpg Size: 130 KB
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  • #5,213
  • Feb 3, 2011 10:58am Feb 3, 2011 10:58am
Quoting Tony112
ECB Press Conference comments
Tony,
Nice L formations at 8:33 and 8:35. Do you agree?
  • #5,214
  • Feb 3, 2011 5:24pm Feb 3, 2011 5:24pm
Quoting Toothman
Tony,
Nice L formations at 8:33 and 8:35. Do you agree?

L formations yes, but most important the 8 pip bars... priceless (near) news announcements, speaches, opens, or presses.


EDIT: I mean the first 8 pip bar.... everything after the big rush is irrelevent, have you noticed? The first or nothing at all...
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  • #5,215
  • Feb 3, 2011 5:25pm Feb 3, 2011 5:25pm
London and Ny open coming will be trade with this 8pc only
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  • #5,216
  • Feb 4, 2011 12:49am Feb 4, 2011 12:49am
Quoting Tony112
L formations yes, but most important the 8 pip bars... priceless (near) news announcements, speaches, opens, or presses.


EDIT: I mean the first 8 pip bar.... everything after the big rush is irrelevent, have you noticed? The first or nothing at all...
Hi Tony,
do you also use the initial 1,5 pip stop loss, or did you change that? What is the max. spread you would trade, because at speaches, news etc.... the spread is very high? Do you wait until spread is back at around 1 pip? But if we wait to long, there will be no trade because they took off before spread settles down.

Erkro
  • #5,217
  • Feb 4, 2011 1:52am Feb 4, 2011 1:52am
Quoting erkro
Hi Tony,
do you also use the initial 1,5 pip stop loss, or did you change that? What is the max. spread you would trade, because at speaches, news etc.... the spread is very high? Do you wait until spread is back at around 1 pip? But if we wait to long, there will be no trade because they took off before spread settles down.

Erkro
The max spread would be 1.2 pips. Never trade on initial news spikes where the spread is 15-20 pips. During speeches, spread is often at normal levels, if not, no trade. Unexpected news are also noticed by an 7-8 pip candle, just like we had the other day. Stay tuned I will post actual entries.
Invest in alarm clocks
  • #5,218
  • Feb 4, 2011 3:17am Feb 4, 2011 3:17am
there any alarms that can be read when there are 8 + candle in 5 sec on the Oanda platform? please tell me
  • #5,219
  • Feb 5, 2011 8:44pm Feb 5, 2011 8:44pm
big snow storm here in Montreal, out of nowhere... even though today looked like a fresh sunny spring day... everything reversed... just like the NFP:nerd: aaaaammm.... I think I've been watching the 5 sec chart for waaay to long now, everything seems to be linked to forex ?
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  • #5,220
  • Edited 9:27pm Feb 5, 2011 8:53pm | Edited 9:27pm
the weather forecast douchebags have been such incredible losers as good as useless fake clairvoyants.. the weather is always the opposite of what they say, they can't even predict the weather for the next 6 hoursthey're are just a bunch of useless worthless douchebags
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