Izzy Fuente
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Yes, I am sure everyone who read your post did that.
The Forex Blueprint to be profitable: The Secret to make money consistently
chart, took 2/3 off at my risk, now SL to BE
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Izzy Fuente
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I hit reply on above post without meaning to. You post these levels at 11:59GMT yesterday. 1.1055 level with your advice of an apparently large bid on the books got hit at 12.10 and only managed to rise 9 pips before falling back to that level and falling right through it this time. You don't mention where you place stops, but you state in your opening post 'with minimum risk' so I presume that is far less than 10 pips, in which case that would have stopped you out. Price then falls to the next level (1.1035) where an apparently large bid should send it up by at least 10 pips. It hits that level at 12:41 and manages to move 4 pips into profit before falling back once again, presumably taking your stop again. Between 12:51 and 13:41 the price trips that level no less than 7 times only the last of which provided a rise of just over 10 pips. Your cumulative losses on the previous failed trades must, even if each independently was low risk (a few pips?) have overshadowed your marginal successful trade? Another failed trade at 14:17 followed by another barely in parameters win even if you are mega quick off the mark at 14:28. 14:59 it gets hit again, as does your stop. And again at 18:08. At 19:16 the bid gets hit again, but with an immediate counter response. I'm just wondering how many trades you actually took using this system, what your risk management strategy is and what other discretionary overrides you have in place as unless I've misunderstood your methods, you were cut to ribbons yesterday. Not that that is a personal attack as I have days and trades like that too, we all do, but I'm not clear why your implying your method worked yesterday when clearly it couldn't have.
Izzy Fuente
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When you say big, live orders, who do you mean exactly? My information is that commercial players overwhelmingly these days tend to use dark pools and direct currency swaps to minimize the transaction cost of non-speculative trade. Suggesting that the majority who do use spot forex do so for speculative purposes and even if you do in reality have a view on where large bids and offers are lodged, these will be more likely spoofs just as the majority are on level 2 which I use. This would also explain why yesterday's results for you were exactly as they turned out if you took these orders at face value. I would also question your information sources as the only people playing the spot forex market in any size are institutional white labels and brokerages who have view of their own orderflow and are unlikely to publish their intent for obvious reasons. vandoug, if you are paying for this information I strongly recommend you check the background of the data provider as the spot forex market simply doesn't work the way you apparently think it does.
Lightning McQueen
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the movie is over @ forexfactory, where these levels (level 2) have been posted since mid june. i'm not linking, as are commercial members, and as have a Skype group you'll have to find it yourselves (at your own peril).
our particular poster (with same levels) has a website, blog like entries with no commercial element (yet) other than google ads.
our particular poster (with same levels) has a website, blog like entries with no commercial element (yet) other than google ads.
keep asking please, sorry im not posting when london opens, im traveling.
SL is usual 10 pips max sometimes but very unusual, 5 pip
Izzy Sl is 10 pips, and i dont trade the levels every time they get touched
this can fail sometimes too, this is not 100% nothing is, sometimes prices goes thru and more orders get filled so price keeps moving, Tp is 5-10 pip-20-30-
dark pools are called because of that, noone can see them. why spoofs? what is your broker and what is your platform? can you access to order book? there are levels for DOM also
information is from prime broker
well.....:smart:
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NVP
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Izzy Fuente
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What basis do you use for deciding ahead of time when to take a trade based on a touch to the level and when not? For the record, as per my misgivings stated above on any method in this market based on single level triggers, genuine limit orders on size tend to cover a cloud of levels, not a single price point.
I'm only too aware nothing works 100% which is why I'm always looking for other angles, including, initially, yours. The lack of clarity around the basis for entry, the incredibly small moves you're looking for, the fact that you're risking effectively your target for each trade and based on recent performance your win loss is crippling, together with my distinct lack of confidence in the premise upon which you apparently use as the foundation of your method, this is about as far away from 100% as anyone would ever expect to get. You couldn't even make money fading it. I'm not being rude just honest. I'm not sure what your purpose is, but you're not really trading these levels are you.
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