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  • #6,801
  • Sep 18, 2012 7:36am Sep 18, 2012 7:36am
Quoting spyderman
Maybe off by a day?!?

Elevator going down.

Doh!

Elevator cable just snapped. Oh well, try again tomorrow.
  • #6,802
  • Sep 18, 2012 7:48am Sep 18, 2012 7:48am
Quoting spyderman
Doh!

Elevator cable just snapped. Oh well, try again tomorrow.
lol jump on current floor and wait for next elevator
Invest in alarm clocks
  • #6,803
  • Sep 18, 2012 8:25am Sep 18, 2012 8:25am
-2 at LO
BE at NYO...but I missed my +20 TP by only 2 pips!
  • #6,804
  • Sep 18, 2012 8:31am Sep 18, 2012 8:31am
Quoting jonander50
Is not this system or this place itself, BUT the fact to follow the big player's movements.

Maybe I'm wrong, and please correct me! But If I'm a hedge fund/bank, and I know another bank/hedge fund is doing, I would bet against them to caught them.

All what i'm talking, comes from the belief that hedge funds, big players and banks watch out their competitors movements in the markets (via the fingerprints, 5 candles por example) so all they need to stealth they orders a little bit.

Look, I've been talking with a some importante manager today,...
Well about the Cronometer thing, yeah the large trading firms, hedge funds, etc have those kinds of tool, but they are nothing new, they have had those kinds of tools for at least 12 or 15 years. They have other software tools too though. But the tool you mention is just a tool that automatically enters orders based on certain parameters...you know, like a very sophisticated EA

And yes, most traders want to keep their strategies a secret, and yes they enter the markets with stealth a lot of times. As a matter of fact, there are entire firms out there, known as "Dark pools of liquidity", whose entire business model is entering markets on behalf of large traders and banks so that there actions are veiled.

But the idea of the banks entering large orders at the market open is not new, and the entire market structure probably wont (knock on wood) change based on a few people in an internet forum talking about entering at the Open. Relax man
  • #6,805
  • Sep 18, 2012 8:35am Sep 18, 2012 8:35am
Quoting barking dog
I have read the first post, some posts after #180 as advised and I would like to ask wether I get this correctly:

1. You hop on the first 5 sec candle after 9:00 (London opening central european time), which is at precisely 9:00:05.

2. You use a 1-2 stop loss (+spread)

3. ALWAYS use a 140 take-profit?


I am especially wondering about 3. Is it actually reasonable to hammer away at this for days and weeks (months?) to grab 140? Why not go for 50 pips or even 20?



EDIT:
What leverage is used to achieve the advertised "1 140 TP win pays...
About the TP level...the official strategy calls for taking profit at 140 pips. Tony, however, is taking profit at 400 pips. Personnally, I am taking profit at only 20 pips; if you look in this thread back in December, there was a poster named AlienFrog, who did some pretty good analysis and determined that it is more profitable to go with a 20-pip TP, as opposed to the 140 pip, due to the fact that you hit winners on a more regular basis, giving you more chances to compound your profits. The 20-pip TP hits on an almost weekly basis, once a week for LO and once a week for NYO...although there are some weeks where it doesnt hit (it once went 2 weeks without hitting, for example), but there have also been weeks where it hit twice in the week.
  • #6,806
  • Sep 18, 2012 2:02pm Sep 18, 2012 2:02pm
Quoting SmartGXL
About the TP level...the official strategy calls for taking profit at 140 pips. Tony, however, is taking profit at 400 pips. Personnally, I am taking profit at only 20 pips; if you look in this thread back in December, there was a poster named AlienFrog, who did some pretty good analysis and determined that it is more profitable to go with a 20-pip TP, as opposed to the 140 pip, due to the fact that you hit winners on a more regular basis, giving you more chances to compound your profits. The 20-pip TP hits on an almost weekly basis, once a week...

I found Alien's post. Interesting.

Raises a question I had in mind earlier. I won't pretend I've read this whole thread, or even the majority, as I just found it a couple of weeks ago. But in what I have read I haven't really seen a discussion of trailing, or more accurately, jumping the stop loss.

If 20 is your desired TP, what about bringing the stop up tight at that point, maybe to 18. Fair to good chance it gets hit and you lose 2 pips (sound familiar ) that you would have had if you'd closed at 20. But if it continues up you can keep moving the stop up and potentially turn a 20 pip trade into ??? who knows. All for risking 2 pips.

If your chosen TP is higher, like 140 or even Tony's current 400, it makes all the more sense as you are risking very little. Why close a trade that's moving in the direction you want..."Minimize risk - Maximize profit"
  • #6,807
  • Sep 18, 2012 2:32pm Sep 18, 2012 2:32pm
Quoting spyderman
No, if you buy 1 standard lot that is 100,000 units of the base currency, in this case the Eur. If you have a US account with a max of 50:1 you'd have to have $2,000 in your account.

If I understand your second question you are trading 1 minilot (10,000 units) for $1,000 meaning your leverage is 10:1.

The amount of leverage does not effect the pip value. The pip value would be $1.00, so if you lost 2 pips then you would lose $2.00 which would be .2% if you had $1000 in your account.
I got the second part with pips -- thx.

I do not get the first part: I have an account in USD, I want to buy 1 lot (100,000 units) of base currency EUR of EUR/USD pair. Cost of euro is still say 1.31142, so I would need $131,142 USD, no?
  • #6,808
  • Sep 18, 2012 2:42pm Sep 18, 2012 2:42pm
Quoting spyderman
I found Alien's post. Interesting.

Raises a question I had in mind earlier. I won't pretend I've read this whole thread, or even the majority, as I just found it a couple of weeks ago. But in what I have read I haven't really seen a discussion of trailing, or more accurately, jumping the stop loss.

If 20 is your desired TP, what about bringing the stop up tight at that point, maybe to 18. Fair to good chance it gets hit and you lose 2 pips (sound familiar ) that you would have had if you'd closed at 20. But if it continues up you can keep...

I completely agree with this! And actually, one of the EA's out there for this strategy does use the jumping stop, but I have not started to use that yet.
  • #6,809
  • Sep 18, 2012 3:18pm Sep 18, 2012 3:18pm
with a take profit of 20, Compound interest occurs more often, however, if we subtract the amount of the composition by the sum of the spreads (that is progressively more money) in a given period, would you give a higher profit respect to the amount of the composition in take profits from the 140?

Hmm..

One more thing:

Tony once said the market was random. No I totally agree. The market has a random ingredient but is not entirely random.

I have been trying to open positions in each open ended wave waiting to be created another (if purchased) or waiting up until half (if I sell) and got better results.

Sometimes open and just going to the other side, then go in the right position. If you are aware of the dynamics of the wave and you go at the right time, you can get a profit of 50-60 pips per week.
  • #6,810
  • Sep 18, 2012 4:08pm Sep 18, 2012 4:08pm
Hi guys, those of you have made some good profit on 9/7, when did you enter? And when did you know it was time to enter?

If I would have entered immediately at London open, I would have been stopped out.
  • #6,811
  • Sep 18, 2012 5:06pm Sep 18, 2012 5:06pm
Hello

I see that EA already available here at a good time on this topic and am testing now makes about 2 weeks. I liked him for being practical and come with an instruction manual. But I wonder something: The Pip_Distance is based on 5 secundos?
I'm using it the graph of M1.

Well .. 'll be waiting!

I thank you by EA.

Quoting Zen_Leow
Hi all,

I've considered Toothman's request and it makes sense. Most importantly, it doesn't distort the strategy. so here it is.

This new version should allow those affected by commission brokers to raise the BE level accordingly. I also did a little clean up to make the BE movement codes a little more logical (easier for me to read in future).

Inputs added

CommissionPips (default: 1)

CommissionPips is how much additional move you want the stop loss to go in order to reach your "True Break Even Point". The stop loss level will still...
Invest in creating their EAs, because one day you need one!
  • #6,812
  • Sep 19, 2012 1:53am Sep 19, 2012 1:53am
Quoting thiagocanuto
The Pip_Distance is based on 5 secundos?
Pip_Distance = The amount of pip movement from the open price for the EA to trigger a trade.

From here.
  • #6,813
  • Sep 19, 2012 4:27am Sep 19, 2012 4:27am
from Frankfurt open > 1,30823 .....................................................
Don't give up
  • #6,814
  • Sep 19, 2012 6:41am Sep 19, 2012 6:41am
Quoting geomink
from Frankfurt open > 1,30823 .....................................................
busy at work even today :-(
Attached Image (click to enlarge)
Click to Enlarge Name: eur.png Size: 100 KB
Don't give up
  • #6,815
  • Sep 19, 2012 7:04am Sep 19, 2012 7:04am
Good morning all..

LO stopped out. NYO at BE.
  • #6,816
  • Sep 19, 2012 8:14am Sep 19, 2012 8:14am
For me:

LO: BE

NYO: BE

On to tomorrow!
  • #6,817
  • Sep 19, 2012 8:20am Sep 19, 2012 8:20am
Quoting SmartGXL
For me:

LO: BE

NYO: BE

On to tomorrow!

Yeah I gotted stopped at BE on NYO too.
  • #6,818
  • Sep 19, 2012 8:38am Sep 19, 2012 8:38am
Quoting SmartGXL
For me:

LO: BE

NYO: BE

On to tomorrow!
Well done, I was LO: -3.6, NY: BE
  • #6,819
  • Sep 19, 2012 8:55am Sep 19, 2012 8:55am
Thanks themaxx! I already have the manual and EA just like to take this course because I have compared with the graph of 5 secundos and was not beating, so I asked.

Quoting TheMaxx
Pip_Distance = The amount of pip movement from the open price for the EA to trigger a trade.

From here.
Invest in creating their EAs, because one day you need one!
  • #6,820
  • Sep 19, 2012 9:00am Sep 19, 2012 9:00am
Quoting savingpig
Hi guys, those of you have made some good profit on 9/7, when did you enter? And when did you know it was time to enter?

If I would have entered immediately at London open, I would have been stopped out.
Sorry for the double I found it out. I didn't match the server time with my time zone correctly.
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