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  • #5,321
  • Apr 7, 2011 5:00am Apr 7, 2011 5:00am
NY open not tradable again

because of that **** 1,3 oanda spread

it seems to leave this system
Don't give up
  • #5,322
  • Apr 7, 2011 5:12am Apr 7, 2011 5:12am
8 pip candle after news
spread was temporarly 1,0
out @ BE
Attached Image (click to enlarge)
Click to Enlarge Name: eu.png Size: 33 KB
Don't give up
  • #5,323
  • Apr 7, 2011 11:30pm Apr 7, 2011 11:30pm
http://img864.imageshack.us/img864/193/charte.th.gif

Look for a large candle followed by supporting price action. If the price immediately drops back down, avoid trade. You can see the price action goes sideways forming an L. This is a big indicator of whether the price will continue to rise or not.

http://img155.imageshack.us/img155/267/chartf.th.gif

Another example of a setup that turned into big winner.
  • #5,324
  • Apr 7, 2011 11:34pm Apr 7, 2011 11:34pm
Quoting stinger88
http://img864.imageshack.us/img864/193/charte.th.gif

Look for a large candle followed by supporting price action. If the price immediately drops back down, avoid trade. You can see the price action goes sideways forming an L. This is a big indicator of whether the price will continue to rise or not.
Hey Sting,

would youe explain better any details pls?

different rules from post, I supposed

many thanks

good pippin'
Don't give up
  • #5,325
  • Edited 11:50pm Apr 7, 2011 11:39pm | Edited 11:50pm
Most of it is the same as Tony's. I've just taken what he gave me and developed my own system.
- Look for large candles like 8 pips or more.
- It should be followed by supporting price action forming an L, like in the examples shown.
- Enter once the L-part has finished
- avoid entering trades where L part has failed.
- give 10 pips max stop loss.
- once the you're in the positive 20 pips, bring your stop loss to Break Even.
- Let it ride for 100 pips.
- Do not enter trades where the pair you're trading has already had a good run up in the past few hours, I.e don't catch a shooting star, falling knife. Instead look for a reversal in the opposite direction.

I'll do my best to keep this thread going till Tony gets back. He's had a some sort of personal loss in his family, so say a little prayer for him.
  • #5,326
  • Apr 7, 2011 11:55pm Apr 7, 2011 11:55pm
Some more examples:

http://img130.imageshack.us/img130/2975/ex1s.th.gif

http://img62.imageshack.us/img62/2453/ex2i.th.gif
  • #5,327
  • Apr 8, 2011 5:05am Apr 8, 2011 5:05am
Quoting stinger88
Some more examples:

http://img130.imageshack.us/img130/2975/ex1s.th.gif

http://img62.imageshack.us/img62/2453/ex2i.th.gif
I'd prefer beeing stick with the thread's rules

Anyone could post the max drawdown before 1 win?

I'm 7% by now

thxs
Don't give up
  • #5,328
  • Apr 8, 2011 9:54am Apr 8, 2011 9:54am
You can use whatever rules you like but don't follow things blindly because its written somewhere. Use your own judgement and back test extensively.
  • #5,329
  • Apr 10, 2011 6:39pm Apr 10, 2011 6:39pm
The rules page 1 say not to trade if spread is greater than 0.9. How many people really stick to this and how many trade with spread as high as 1.2?
  • #5,330
  • Apr 10, 2011 11:07pm Apr 10, 2011 11:07pm
Quoting hellogoodbye
The rules page 1 say not to trade if spread is greater than 0.9. How many people really stick to this and how many trade with spread as high as 1.2?
the problem is I don't see Oanda spread 0,9 anymore
Don't give up
  • #5,331
  • Apr 10, 2011 11:16pm Apr 10, 2011 11:16pm
Quoting geomink
the problem is I don't see Oanda spread 0,9 anymore
Their site says that EURUSD frequently has 0,9 spread but after reading through the thread it seems that in the last few pages people have been complaining about Oanda never having 0,9 at the right times. Hence my confusion
  • #5,332
  • Apr 10, 2011 11:37pm Apr 10, 2011 11:37pm
Quoting hellogoodbye
in the last few pages people have been complaining about Oanda never having 0,9 at the right times
I confirm that, using Oanda in 8 years; spread is very increasing lately

Try a new broker
Don't give up
  • #5,333
  • Apr 10, 2011 11:49pm Apr 10, 2011 11:49pm
Quoting geomink
I confirm that, using Oanda in 8 years; spread is very increasing lately

Try a new broker
Is there a broker you'd recommend for using this strategy?
  • #5,334
  • Apr 10, 2011 11:53pm Apr 10, 2011 11:53pm
Deutsche Bank is the biggest forex trader. Any idea what are their daily forex transactions?
  • #5,335
  • Apr 11, 2011 12:16am Apr 11, 2011 12:16am
Quoting hellogoodbye
Is there a broker you'd recommend for using this strategy?
I use[d] Oanda because of their tight spread
Don't give up
  • #5,336
  • Apr 11, 2011 12:37am Apr 11, 2011 12:37am
Does Deutsche Bank offer managed forex accounts or Deutsche Bank just allows traders to trade using their forex platform? I am interested in Deutsche Bank forex trading so any information will be appreciated.
  • #5,337
  • Apr 11, 2011 1:35am Apr 11, 2011 1:35am
I've been using Interactive Brokers for ages now. Have not found a better broker for forex or stocks.
  • #5,338
  • Apr 11, 2011 3:20am Apr 11, 2011 3:20am
Quoting worldmoneyy
Does Deutsche Bank offer managed forex accounts or Deutsche Bank just allows traders to trade using their forex platform? I am interested in Deutsche Bank forex trading so any information will be appreciated.
Try Mar..etindex in UK, Spread is 1 pip. It is very often that I have a spread of 10 pips on my o..nda account and MI has 1 pip. Between around 09:00 pm and 08:00 am CET the spread is 3 pips, but at london open and ny open the spread is always 1 pip.

Regards Erkro
  • #5,339
  • Apr 11, 2011 10:42pm Apr 11, 2011 10:42pm
Quoting hellogoodbye
Is there a broker you'd recommend for using this strategy?
I was trading with Oanda for 6 years. They increased their spreads and during news releases they are awful. I transfered my account to IKON Viking. The spread + commissions is 1 pip or lower and the fills are much faster than with Oanda.
  • #5,340
  • Apr 11, 2011 11:57pm Apr 11, 2011 11:57pm
Quoting srmfx
I was trading with Oanda for 6 years. They increased their spreads
Since Tony's method become profitable oanda increased their spreads?



Spread on E/U larger then U/J !!!!!!!!!
Don't give up
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