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  • #6,421
  • Aug 1, 2012 4:11am Aug 1, 2012 4:11am
stats makes pips not spirit
unless you trade random

walker

Quoting deathbait
I'll have to go with option 2 lol

As I mentioned a few times before, I'm looking forward to your contributions in adjusting the TP.

I'm not against stats. I use them all the time. I'm just pointing out you're moving in the opposite direction of what this strategy sets out to do regarding SL.
  • #6,422
  • Aug 1, 2012 4:16am Aug 1, 2012 4:16am
in that case, u might as well take this to it's natural conclusion and test it on every single minute instead of only at the opens.

At some point the strategy will mutate into something completely different from this strategy, unless you set certain parameters that you tell yourself not to cross.

I'm saying the tight SL is one of those parameters.


Further arguments over semantics is just gonna be unproductive. Like I said, I respect what you do, and look forward to you sharing your results, especially regarding tweaking TP.
  • #6,423
  • Aug 1, 2012 7:15am Aug 1, 2012 7:15am
original plan targets 140 pip with 2 pip stop
I tested 1000 pip with 15 pip stop

same RR ratio


Quoting deathbait
in that case, u might as well take this to it's natural conclusion and test it on every single minute instead of only at the opens.

At some point the strategy will mutate into something completely different from this strategy, unless you set certain parameters that you tell yourself not to cross.

I'm saying the tight SL is one of those parameters.


Further arguments over semantics is just gonna be unproductive. Like I said, I respect what you do, and look forward to you sharing your results, especially regarding tweaking TP.
  • #6,424
  • Aug 1, 2012 8:12am Aug 1, 2012 8:12am
Quoting stevewalker
original plan targets 140 pip with 2 pip stop
I tested 1000 pip with 15 pip stop

same RR ratio
Current strategy is 400 pip target with 2 pip stop - better RR
  • #6,425
  • Aug 1, 2012 8:48am Aug 1, 2012 8:48am
has any of you except Tony112 tested 400 pips?
if you are not doing it according to the plan, you have no plan.


Quoting TheMaxx
Current strategy is 400 pip target with 2 pip stop - better RR
  • #6,426
  • Aug 1, 2012 9:27am Aug 1, 2012 9:27am
Quoting stevewalker
has any of you except Tony112 tested 400 pips?
if you are not doing it according to the plan, you have no plan.
Of course I have a plan:

Quoting TheMaxx
I personally am moving my stop loss in accordance with my gut feel of support and resistance - with no take profit. But I don't have the experience of Tony so I'll probably end up with worse results than having a fixed TP - but I think it's important to trade a system in a way that fits with your trading style.
  • #6,427
  • Aug 1, 2012 9:29am Aug 1, 2012 9:29am
good luck!
Quoting TheMaxx
Of course I have a plan:
  • #6,428
  • Aug 1, 2012 9:38am Aug 1, 2012 9:38am
Quoting TheMaxx
I personally am moving my stop loss in accordance with my gut feel of support and resistance - with no take profit. But I don't have the experience of Tony so I'll probably end up with worse results than having a fixed TP - but I think it's important to trade a system in a way that fits with your trading style.
I'd guess you'll end up with worse accuracy... but I'm not sure about overall result. I'm a huge fan of the "infinite growth" idea, so I'm going to track your progress. If you don't mind, of course.
  • #6,429
  • Aug 1, 2012 9:56am Aug 1, 2012 9:56am
Quoting Barbossa
I'd guess you'll end up with worse accuracy... but I'm not sure about overall result. I'm a huge fan of the "infinite growth" idea, so I'm going to track your progress. If you don't mind, of course.
Of course - I plan on trading live Monday - will post myfxbook link.
  • #6,430
  • Aug 2, 2012 7:06am Aug 2, 2012 7:06am
Another beautiful NY OPEN!

plus 15 now.
Whether you can or you can't, you are both right.
  • #6,431
  • Aug 2, 2012 8:00am Aug 2, 2012 8:00am
Welcome to the EUR/USD ever changing market conditions. Want to transport yourself in space in time? Come aboard today! We are currently traveling at a speed of 400 pips an hour. Go bankrupt or millionaire in the matter of a few seconds! How emotional.
Invest in alarm clocks
  • #6,432
  • Aug 2, 2012 8:01am Aug 2, 2012 8:01am
It was crazy and i F-ing LOVE IT!
Whether you can or you can't, you are both right.
  • #6,433
  • Aug 2, 2012 8:17am Aug 2, 2012 8:17am
This is 1 of the main reason to restrict a SL to 2 pips max. Never find yourself in the infernal snake train going straight down to the burning hell pit... like today. Sickening stuff.
Invest in alarm clocks
  • #6,434
  • Aug 2, 2012 8:24am Aug 2, 2012 8:24am
Quoting Tony112
Welcome to the EUR/USD ever changing market conditions. Want to transport yourself in space in time? Come aboard today! We are currently traveling at a speed of 400 pips an hour. Go bankrupt or millionaire in the matter of a few seconds! How emotional.
... thought you were somewhere outa here.... space sounds good, welcome back.

400, that is just awesome !!! Grats!

Had a TP at .24040, price peaked at .24053 and slip missed hitting BE and that was on demo account, image real.
  • #6,435
  • Aug 2, 2012 8:51am Aug 2, 2012 8:51am
great job Tony.

cong.
Quoting Tony112
Welcome to the EUR/USD ever changing market conditions. Want to transport yourself in space in time? Come aboard today! We are currently traveling at a speed of 400 pips an hour. Go bankrupt or millionaire in the matter of a few seconds! How emotional.
  • #6,436
  • Aug 2, 2012 9:19am Aug 2, 2012 9:19am
Tony

I guess it is around 340 pips

walker

Quoting Tony112
LO
  • #6,437
  • Aug 2, 2012 11:43am Aug 2, 2012 11:43am
Quoting stevewalker
Tony

I guess it is around 340 pips

walker
Happy with 29 pips in us open with 10 pips trailer.
Others are doing great. Am i missing something?
  • #6,438
  • Aug 2, 2012 12:00pm Aug 2, 2012 12:00pm
Quoting sohel0402034
Happy with 29 pips in us open with 10 pips trailer.
Others are doing great. Am i missing something?
Nice way of breaking the ice on Forex Factory! **1ST POST WIN**

old vets like me target 400 pips, keep up the good work son
Invest in alarm clocks
  • #6,439
  • Aug 2, 2012 1:53pm Aug 2, 2012 1:53pm
thank u tony for ur response.but how u can predict market will move 400 pips in ur favor. How u use take profit option when u aim for 400 pips?
  • #6,440
  • Aug 2, 2012 3:58pm Aug 2, 2012 3:58pm
I use this exact strategy and people laugh at me for it.

I just laugh my way all the way to the bank

I use 1 pip, 3 pip and 5 pip stop losses for scalping. 25 pip stop loss when I am 90% sure of success.

If I nail the high, I make 50-100 pips, if not, I lose absolutely minuscule amounts and try shorting again on another spike into resistance.
Be hopeful in a winning position, and fearful in a losing position.
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