Hi Guys,
First of all i would like to state this is insprired by Tony's "big players" strategy however i didnt want to clutter his thread with variations as it happens often enough.
Entry is based after the first minute of either Frankfurt or London open in which ever direction the price breaks. SL is the opposite end of the 1 minute candle which is often never more then 10 pips! TP as ever this is still a work in progress but the theory is the same as tony's, we are looking for the market to move from the off and never return to your SL. It is possible to move you SL to BE very early leaving you with a free trade.
Currently I have been trailing my SL but as I dont have to time to constantly monitor the trade I am considering the idea of setting a TP of say 50 or possibly a daily support/resistance giving a great Risk/Reward.
You will be surprised how often it happens. Take a look at today london open GBP/USD, that is what Tony would call an epic win.
Anyway I look forward to any input.
Happy Trading!
p.s I have been taking 4 trades a day with this: Frankfurt and London open using Cable and EUR/USD.
First of all i would like to state this is insprired by Tony's "big players" strategy however i didnt want to clutter his thread with variations as it happens often enough.
Entry is based after the first minute of either Frankfurt or London open in which ever direction the price breaks. SL is the opposite end of the 1 minute candle which is often never more then 10 pips! TP as ever this is still a work in progress but the theory is the same as tony's, we are looking for the market to move from the off and never return to your SL. It is possible to move you SL to BE very early leaving you with a free trade.
Currently I have been trailing my SL but as I dont have to time to constantly monitor the trade I am considering the idea of setting a TP of say 50 or possibly a daily support/resistance giving a great Risk/Reward.
You will be surprised how often it happens. Take a look at today london open GBP/USD, that is what Tony would call an epic win.
Anyway I look forward to any input.
Happy Trading!
p.s I have been taking 4 trades a day with this: Frankfurt and London open using Cable and EUR/USD.