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  • #6,061
  • Mar 8, 2012 3:54am Mar 8, 2012 3:54am
Hi Tony do you watch the news result or just your eyes on the chart , and for the first move you mean the first trending move like three 5 secs bars in the same direction ? , this is for news trading of course
for sessions starts we wait for the first minute confirmed direction or the first impulsive move of the market ?
  • #6,062
  • Mar 8, 2012 6:12am Mar 8, 2012 6:12am
for the news trade i think those people have faster access to the news , i think that you can see their impact even before the news been released to public not much time i think last couple of minutes before the news released ,,, this may help us avoid the huge spread that happens during the news short term effect period
  • #6,063
  • Mar 8, 2012 7:58am Mar 8, 2012 7:58am
I chose to give up during the press conference. Here are the trades of a compulsive person:
Attached Image (click to enlarge)
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Invest in alarm clocks
  • #6,064
  • Mar 8, 2012 8:05am Mar 8, 2012 8:05am
Quoting Yonited
Hi Tony do you watch the news result or just your eyes on the chart , and for the first move you mean the first trending move like three 5 secs bars in the same direction ? , this is for news trading of course
for sessions starts we wait for the first minute confirmed direction or the first impulsive move of the market ?
For big news, entering in the direction the chart shows doesn't work:
-Spread is already at around 20 pips with oanda
-The price has normally traveled around 20 pips or more
-Slippage

That is why I either trade medium impact news or place a trade before major news with a tight stop-loss. I would tell you that the only major news I like to trade are

-ECB Press Conference
-Trichet Speaking
-Bernanke Testifying

These set off huge volatility because of unexpected news and usually have No extra spread!, Today there was no extra spread during that huge candle.
Invest in alarm clocks
  • #6,065
  • Mar 8, 2012 8:07am Mar 8, 2012 8:07am
I advise people to NOT trade like in the above example. As I said this trade is on my tab and was traded with extra cash. Do not over trade the press conference like this.
Invest in alarm clocks
  • #6,066
  • Mar 8, 2012 8:40am Mar 8, 2012 8:40am
Quoting Tony112
I chose to give up during the press conference. Here are the trades of a compulsive person:
in this pic you ignored the trending move right after the news released and entered on impulsive movement when the 5 secs bar achieved more than 7 or 8 pips in one move is that you rule for the news trading only or for even sessions starting .

why i said what i said before that i saw before "Interest Rate Decision" which impacting the GBP impulsive bars started with around three 3 to 6 pips bars then the move go on and on like those ppl knew that the result will be neutral and they want to accumulate as much as they can to distribution while the news released with high demand and trap the slower ducks ,,,, i was trapped
  • #6,067
  • Mar 8, 2012 4:35pm Mar 8, 2012 4:35pm
i am newbie but i want this strategy be even better what about increasing the odds of the trades like going only withe the daily trend direction or previous reversal candle on daily chart , i mean we look for the direction of the big light instead of just entering without any clue.

what is the average losses to get one big winner ?
  • #6,068
  • Mar 9, 2012 12:01pm Mar 9, 2012 12:01pm
Hi Tony i tried the strategy today on both GBP/USD and EUR/USD , the first pic happened during the london session for and you see how after opening the pair moved up in trending move for about 6 pips where i entered long and then the strong impulsive move came , in the NY session the impulsive move came first in this first tiny bar then tricky trending move in the opposite direction which shacked my confidence i wasn't set my stop loss yet i get out.

how can we filter the noise and build confidence while we take a position ?
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  • #6,069
  • Mar 14, 2012 5:46am Mar 14, 2012 5:46am
News trading can be tricky. I tried it when I first started trading. There used to be a forum discussing news releases some forex news trading or something.

The thing about news trading is that the price can spike in one direction and quickly change to the other direction once the news has been digested.

Entering a trade is another issue, slippages, program freeze are quite common. Unless you are able to predict very well what will happen before the news release, do not trade these events if you are unsure. You might be better off flipping coins - heads -go long - tails go short.

Just my thoughts!
  • #6,070
  • Mar 16, 2012 7:52am Mar 16, 2012 7:52am
confession: traded with a 10 pip SL, reduced to 0

stellar ... im now part of eta cassiopeiae
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Invest in alarm clocks
  • #6,071
  • Mar 16, 2012 9:06am Mar 16, 2012 9:06am
Tony,
Great execution, I know you shoot for a big TP, good luck with that!
I got 4 scratches this week and 1 BE, if 1 more week like this, I'll add even more to my account.
r u ready?
  • #6,072
  • Mar 16, 2012 9:22am Mar 16, 2012 9:22am
Yeah good for you Tony. I personally am still doing the 2 pip stop loss, but then again you have more money to play with.
I also added more money to my account this week. Now up to $800!
Also did not trade every single day either. This is becaue I am using candlestick analysis to help me gauge when to trade and when not to. Do you, Tony, or anyone else not trade certain days because of low market activity. So far I have yet to get an big win. Thought I had one a couple of days ago but I got stopped out. Need to not move my stop loss so quickly after opening the trade.
  • #6,073
  • Mar 16, 2012 9:43am Mar 16, 2012 9:43am
Quoting Anewr
Yeah good for you Tony. I personally am still doing the 2 pip stop loss, but then again you have more money to play with.
I also added more money to my account this week. Now up to $800! ...
IMO it's better to not try to predict the market based on discretionary analysis. It might work 10 times and then if you miss a winning trade, your loss will be even bigger than just placing your trades religiously every open. You have to just trust the probabilities that are on your side.
r u ready?
  • #6,074
  • Mar 16, 2012 9:46am Mar 16, 2012 9:46am
Tony BUY THE EURO NOW, I mean right now. Buy it with ALL YOU HAVE! lol remember? ha!

Quoting Tony112
confession: traded with a 10 pip SL, reduced to 0

stellar ... im now part of eta cassiopeiae
Annoying Precision
  • #6,075
  • Mar 16, 2012 9:53am Mar 16, 2012 9:53am
Quoting erikte279
Tony BUY THE EURO NOW, I mean right now. Buy it with ALL YOU HAVE! lol remember? ha!
Buy the euro like there is no tomorrow!!!

lol, oups its 20 light years away from its depart... why not buy it with a 100 pips SL....hmm rewind me 7 years back
Invest in alarm clocks
  • #6,076
  • Mar 16, 2012 2:33pm Mar 16, 2012 2:33pm
Quoting rtrs111
IMO it's better to not try to predict the market based on discretionary analysis. It might work 10 times and then if you miss a winning trade, your loss will be even bigger than just placing your trades religiously every open. You have to just trust the probabilities that are on your side.
Thanks for the response and yes I suppose you are right. Though I will say that so far I have been right in when to trade and when not to trade. And as I mentioned above the only one I did not get was because I moved the SL too soon. And yes you are right on the probabilities being in my side and that I need to just trust those probabilities are in my favor. Thanks!
  • #6,077
  • Mar 19, 2012 2:20am Mar 19, 2012 2:20am
Quoting Tony112
confession: traded with a 10 pip SL, reduced to 0

stellar ... im now part of eta cassiopeiae
Hi Tony!

I saw that you have already summertime in Kanada, but we in europe (CET) change to summertime on 25. march.
When you trade your LO trade this week, you really trade the Frankfurt Open, and there is no or very low volatility.
The NO is ok, because they have already summertime. How do you handle it?

Erkro
  • #6,078
  • Edited 4:20am Mar 19, 2012 3:19am | Edited 4:20am
im in on a short.

0SL.

Stopped out at BE.Lets see what the NY open brings
  • #6,079
  • Mar 19, 2012 3:24am Mar 19, 2012 3:24am
Thanks for sharing your system Tony. I've looked through a bunch of the latest pages to get an idea of what this strategy is and I like the concept of tiny SL, large TP and quick B/E, so much I decided to join this forum just to post and ask you this:

Have you guys considered trying these same rules on breakouts? I've spent alot of hours watching breakouts and I've noticed that they either bounce completely, bounce slowly to the cliff then break, or just break completely as the stops are triggered and run violently one direction.

I'm looking into this already but wanted to ask you myself, thanks.
  • #6,080
  • Edited 10:36am Mar 19, 2012 6:19am | Edited 10:36am
Quoting 3clipz3
Thanks for sharing your system Tony. I've looked through a bunch of the latest pages to get an idea of what this strategy is and I like the concept of tiny SL, large TP and quick B/E, so much I decided to join this forum just to post and ask you this:

Have you guys considered trying these same rules on breakouts? I've spent alot of hours watching breakouts and I've noticed that they either bounce completely, bounce slowly to the cliff then break, or just break completely as the stops are triggered and run violently one direction.

I'm looking into...
I've been checking: pinbars, momos (high thrust) candles that run the BB rail and "L" wedges, with breakout price from middle BB (18 MA), with mixed results so far. And also your strategy long time ago..., LOL!
Edit: not on 5 sec charts though, just looked for H1 candles with no or very small wick. Maybe Tony's entry method, using the very first momo breakout candle on 5 second charts will work great if applied on higher time frames patterns.
r u ready?
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