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- forexisfx replied Jun 3, 2009
i suggest the TP to be 20 and when price is +10 pips we move to break. That way , we get break even 99% of the time and our RR is 2:1. Sounds great isnt it ?
Tony's Two Candle trading system
- forexisfx replied Jun 3, 2009
Great ! Now we can see if we can get 99% win ratio with TP 10 and 80% win ratio with TP 20. Also not forgetting to close the trade when price 5-10 pips against us.
Tony's Two Candle trading system
- forexisfx replied Jun 3, 2009
Let say he close the trade when 5-10 pips against him. With the above statement posted by tony , we have a holy grail here isn't it ? 99% winning ratio with TP 10. so it's like 1:1 RR with 99% winning ratio.
Tony's Two Candle trading system
- forexisfx replied Jun 3, 2009
if u scroll back to look at USDJPY chart u know will what i mean. If we trade usdjpy with a spread of 2 pips , it means 3 - 8 pips against him. The moment he open a trade it's already 2 pips against him.
Tony's Two Candle trading system
- forexisfx replied Jun 3, 2009
so this system is not so simple after all , more indicators coming up ?
Tony's Two Candle trading system
- forexisfx replied Jun 3, 2009
becoz this system will lose if the SL is small. Discretion is the key to make it work.
Tony's Two Candle trading system
- forexisfx replied Jun 3, 2009
Nice , i just made $207 on my live account. I close the trade due to new candle.
Tony's Two Candle trading system
- forexisfx replied Jun 3, 2009
the next hour is coming , i should close the trade when new candle form if neither TP nor SL is hit ?
Tony's Two Candle trading system
- forexisfx replied Jun 3, 2009
alright guys I'm betting real money on this. Trading USDJPY , looks like gonna be a long trade , let see how it goes. I'm taking my bet for 0700 GMT+0 candle
Tony's Two Candle trading system
- forexisfx replied Jun 3, 2009
i think this thread will end when somebody make an EA and discover that the equity goes down hill in a run long. So no EA please. At least let this thread stay alive for 24 hours. I might be wrong , let see how this goes.
Tony's Two Candle trading system
- forexisfx replied Jun 3, 2009
i think the condition for the trade is. Previous candle bull candle, current candle move +5 pips u buy with TP 10/20 SL previous candle low Previous candle bear candle, current candle move -5 pips u sell with TP 10/20 SL previous candle high
Tony's Two Candle trading system
- forexisfx replied Jun 3, 2009
u don't wanna see an EA for this becoz it will ruin the party.
Tony's Two Candle trading system
- forexisfx replied Jun 3, 2009
yes. This system is buy/sell and hold until it turn around. There are rare occasion that it doesn't and u have to just take a lost. That pretty much sums up this system
Nanningbob 4H trading system
- forexisfx replied Jun 2, 2009
God bless your family. Hope it all turn out well.
Nanningbob 4H trading system