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Central Banks & Big Players

image Missed this one.

Central Banks & Big Players

Its all relative to the price action going on at the time. If its dead quiet and you see a big move but the candle stick it less than 10 pips, its probably ok. You want to wait for at least 10 pips is when there is a lot of action going on, i.e just ...

Central Banks & Big Players

image Another possible entry but I stayed out of it because of the large run up already.

Central Banks & Big Players

I didn't end up taking that one. On my charts it was only a 6 pip candle. My charts aren't actually that great for time frames under a minute. But I'm glad the trade is working out for you. image

Central Banks & Big Players

the past 6 hrs has just been a snooze. I've been trying to keep awake by playing poker on PokerStars. Let's hope the NY open has some action.

Central Banks & Big Players

image Here's the move that started it all. You can see its dead quiet before the 7 pip down bar. It might not be a 10 pip bar but these types of setups are probably good to go.

Central Banks & Big Players

Nice. I missed the re-entry @ 1.6305 just before the London open.....was in the kitchen.

Central Banks & Big Players

when in short @ 1.6305. Stalled at 1.6286. Never broke this support level. Ended up getiing only 10 pips.

Central Banks & Big Players

I'm using quote tracker. I don't pay for it. The data feed is free if you have an IB account. The spread for EU is about .5 - 1 on average. EUJ is .5 -1.5 on average. IB is transparent. They do not earn commission on spread so you get lowest spreads ...

Central Banks & Big Players

I hear ya. Things can get slow sometimes if you're waiting only for the 10 pip L-shape candles. And if you happen to step away from the computer and miss the move, then it can get on your nerves. I have 3 other setups that I look for, so theres ...

Central Banks & Big Players

As far as I know Interactive brokers charges commision base solely on your lot size. url So they give you the minimum spread which is usually at most 2 pips when slow. 1/2 pip spread is the smallest you'll get.

Central Banks & Big Players

My spreads right now are roughly .5 - 1 pip. Interactive brokers is probably the cheapest.

Central Banks & Big Players

image Some pre-market action. Was about to enter @ 1.6336 but decided against it since no 10 pip bar.

Central Banks & Big Players

One thing I've learned about the stock market is there are no free lunches. I used to work for a day trading company and I've seen dozens of traders crash and burn. The few that did make it put in enormous hours outside of the market researching and ...

Central Banks & Big Players

I use Interactive Brokers. When the news hits, the GBP can go crazy with 10 pip spreads. I've tried to trade these and gotten burned a few times. I find its better to wait for the L-shaped pattern that you describe before trading. You might miss the ...

Central Banks & Big Players

Honestly, I don't know. The move fit my trading parameters so I took it.

Central Banks & Big Players

If you firmly believe, then you don't really need to ask me.

Central Banks & Big Players

23 pips Really should have held longer since GBP was in a strong uptrend. image

Central Banks & Big Players

image Got greedy and ended up with only 10 pips. image Poor entry @ 1.0324 led to 6 pip stop loss being hit. Of Course the USD then proceeeds to tank. Arrrghhh!

Central Banks & Big Players