And that is the real bonus... it's basically a set and forget. You get in, get to breakeven (within seconds) or stopped out (within seconds) and then let it go. The only time you might want to intervene is like today... when I had a very strong ...

DanUK's Intraday Experiment

That's right - and bear in mind there will be many more losers and breakeven trades than winners with this strategy so you will have to be prepared to ride it out until you get a winner. I'm not sure how often that will be, although it's not like ...

DanUK's Intraday Experiment

2 pips includes the spread! Hence why it's only traded on EUR/USD with 0.9 spread. Today's trade was 2% risk (or 1% per pip). However, I do feel that was too high and I will drop it to 1% risk (or 0.5% per pip) next time I trade this (Monday ...

DanUK's Intraday Experiment

It would probably work on other pairs too but it is the spread - Oanda it's 0.9 pips on E/U - as we only want to risk 2 pips that is a major aspect of it!

DanUK's Intraday Experiment

Indeed it might just be! The setup candle is easy enough to see... at 5 seconds each they move bloody quick so I would advise anyone who wants to have a go to demo first so that you can get used to the platform and the speed you need to go at in ...

DanUK's Intraday Experiment

Hi bez, It's right on the open - the direction is set by the very first candle on the open. If it is up then we buy if it is down we sell. You do need an Oanda account to get the 5 second chart and low spread (or possibly other brokers but it can't ...

DanUK's Intraday Experiment

Just the direction of the London Open... the first bar was up so the trade is long.

DanUK's Intraday Experiment

It's extremely simple and very very different to anything I've done before. Timeframe is 5 SECOND chart!!! Entry is in the direction of the London open or the New York open. Trading EUR/USD only. Using Oanda for a small spread (0.9 pips) with a 2 ...

DanUK's Intraday Experiment

Yes that's right. 2% risk is what I normally use however this was my first trade using this method and I think that is actually too high. I am going to drop it down to 1% risk in the future so I will be trading 0.5% per pip. I do not yet know the ...

Central Banks & Big Players

I did this thanks to Tony's "Central Banks & Big Players" thread! Now I anticipate the next lot of trades to be small stop outs 1/2 pips here and there and plenty of breakeven trades but if past performance is anything to go by there will plenty of ...

DanUK's Intraday Experiment

Nice way to end the week! — Right then chaps... today I did something new and extraordinary! I bought EU at 1.2899 with just a two pip stop loss. Within seconds I moved my stop to breakeven and let the trade ride. I was hoping to get up to ...

DanUK's Intraday Experiment

Well I called it quits! +90 pips! 90% profit in one day! 1.3 just didn't look like it was going to give! Thank you Tony!

Central Banks & Big Players

Hi dan89, Personally I would say shorts are out for the moment... the trend is up for now so I would be careful selling. Regards, Dan

Trend Trading Chart Thread

You bet! Looking to add around 1.52

Trend Trading Chart Thread

Struggling to break 1.3 at the moment... but I won't be selling unless we get a good PA signal first... as it is contrary to the current trend. Regards, Dan

Trend Trading Chart Thread

Hi CP, I went long this morning at 1.2900 funnily enough... did it in a crazy way in fact! Used a two pip stop loss!!! It's a different strategy that I am testing so I won't go into details but thought it worth a mention. If it works out I will post ...

Trend Trading Chart Thread

Hi JoelD, Bull trend is in place... however, 1.3000 is an important level so don't buy into it! Buy above it if it makes it! Regards, Dan

Trend Trading Chart Thread

Hi, In my humble opinion G/U is currently in an uptrend. If you take a look at my chart... the yellow arrow marks the last swing high in the downtrend at about 1.4770 - you will then see the green arrow which marks where price pushed up above this ...

Trend Trading Chart Thread

This is an interesting question and I wondered about this too. I am still in the LO (long) trade - If I hadn't been I would have sold at 1.2994 (NY) and that would have been a breakeven trade - no loss! As I am new to this I think it would be easier ...

Central Banks & Big Players

Thanks BabeFX. I agree about the 1.3000 level... I figure I'll leave my TP at 1.3039 (as per the system rules) and watch how price reacts off 1.3. Cheers, Dan

Central Banks & Big Players