0400-0700 GMT Breakout Strategy

Billyjoe · #**1516** Nov 7, 2009 1:54am

Quote:

Originally Posted by jay320

Hi--new to the thread but I think this system is cool and has the potential to be profitable.

I have a question/suggestion... has anyone ever discussed waiting until a candle closes above or below the box to enter? On the M30 chart that would have triggered a profitable short today, albeit later in the morning.

Just a thought.

Hello guys,

this my first post here, I followed all the thread.

I agree that it is a good way to trade because it takes in consideration the london session (asia and US is good too) because there is differrent volatility and differrent "big players"and it is often the beginning of a big move, it could also be the low/high of the day.

The best way to avoid false breakout is of course wait for a pull back on small time frame but it could give loss because the pull back we took was too early (too smal time frame), but if right will give much better R/R.

Smaller the time frame, more the pull back could be too early (more risky) but more it could catch the move at the beginning, the inverse for less smaller time frame, the pull back could be much more reliable but taken later.

Check it and see what suit you the most, risk/reward and % winning.

Anyways I think it is a very good way to trade, much better than most indicator, just take the sessions...

Billyjoe

PS : sorry for my english, it is not my native language.

Pierre · #**1517** Nov 7, 2009 4:55am

Quote:

Originally Posted by billbss

You are correct.
Just glancing back for a week or two it appears it would do better by ending the box at 0700 rather than 0730, or one bar shorter than the box he is showing.

London opens at 0700 GMT. There is usually a big move at this time. That movement could be used in making profit.

I'm not ready to say this would be better, I didn't really test it, but it's something that should be looked at.

Hello, London always open a 8 london time (winter and summer)
That is in winter 8 GMT and in summer 7 GMT

Pierre · #**1518** Nov 7, 2009 5:08am

Quote:

Originally Posted by tasciy

this strategy is the london open variation of "7am-9am Big Dog USD Breakout Strategy"...

In the 7am-9am Big Dog USD Breakout Strategy the box is 1 hour before newyork open and 1 h after.
Your strategy is 3 hours before london open

I use the London Rush (0 - 8 GMT)but maybe your strategy is better.
I will test

Billyjoe · #**1519** Nov 7, 2009 5:13am

Quote:

Originally Posted by Pierre

Hello, London always open a 8 london time (winter and summer)
That is in winter 8 GMT and in summer 7 GMT

Hello,

are you sure about ?

Would you bet your hand about ?

Because for me at the summer London is +1 GMT (8 GMT)

For me the winter London is GMT +O (8 GMT), and the summer London is +1 GMT, it is still 8 GMT...

Billyjoe

Billyjoe · #**1520** Nov 7, 2009 5:14am

Also do not forget the european open which is one hour before London (Paris, francfort, Amsterdam)

Billyjoe

daprincefx · #**1521** Nov 7, 2009 5:24am

Can anyone please tell me more about fractal

Pierre · #**1522** Nov 7, 2009 5:53am

Quote:

Originally Posted by Billyjoe

Hello,

For me the winter London is GMT +O (8 GMT), and the summer London is +1 GMT, it is still 8 GMT...

Billyjoe

In winter london open at 8 GMT (8 London time) and in summer 7 GMT (always 8 london time
That is london open always at 8 LONDON TIME
In summer 8 LONDON TIME is 7 GMT

Pierre · #**1523** Nov 7, 2009 5:58am

Quote:

Originally Posted by Billyjoe

Also do not forget the european open which is one hour before London (Paris, francfort, Amsterdam)

Billyjoe

In winter (now) european market open at 7 GMT, that is 8 London time
then 1 h before london

take a look at http://www.forexmarkethours.com/GMT_hours/02/

Pierre · #**1524** Nov 7, 2009 6:00am

Quote:

Originally Posted by Billyjoe

Also do not forget the european open which is one hour before London (Paris, francfort, Amsterdam)

Billyjoe

excuse me there was one error

In winter (now) european market open at 7 GMT, that is 7 London time
then 1 h before london

take a look at http://www.forexmarkethours.com/GMT_hours/02/

Pierre · #**1525** Nov 7, 2009 6:10am

Summer Day Time does not affect the indicator setting. Regardless of whether we
are in winter or summer time, the London market still opens at 8:00 am London time

It makes no difference where in the world you live. The only thing that matters is where in the world your MT4 provider's server is located

Billyjoe · #**1526** Nov 7, 2009 6:46am

Quote:

Originally Posted by Pierre

Summer Day Time does not affect the indicator setting. Regardless of whether we
are in winter or summer time, the London market still opens at 8:00 am London time

It makes no difference where in the world you live. The only thing that matters is where in the world your MT4 provider's server is located

I was talking about GMT.

Of course in a country 8h00 is still, 8h00, come on man...

Billyjoe

Billyjoe · #**1527** Nov 7, 2009 6:57am

Hello "Pierre" (french ?),

look where you want at this time London is at GMT +0.

London is never at -GMT...

If you get me wrong on this, I would be so ashamed that i will never come back again !!!

Billyjoe

Scullmeister · #**1528** Nov 7, 2009 7:12am

Haha - how i love these 20 page debates over trading times.

For my strategy i am simply catching the breakout of the London open, which is at 8am, so my lines are drawn at 5am and 7.15am LONDON TIME.

Buffer 10 for long, buffer 7 for short, now using the range as my SL, never exceeding 50 or 60 depending on the market condition with a PT of +30.

Can't get simpler than that cheekos.

Happy trading, i look forward to all the posts about where my lines are drawn again, LOL.

Billyjoe · #**1529** Nov 7, 2009 7:30am

Quote:

Originally Posted by Scullmeister

Haha - how i love these 20 page debates over trading times.

For my strategy i am simply catching the breakout of the London open, which is at 8am, so my lines are drawn at 5am and 7.15am LONDON TIME.

Buffer 10 for long, buffer 7 for short, now using the range as my SL, never exceeding 50 or 60 depending on the market condition with a PT of +30.

Can't get simpler than that cheekos.

Happy trading, i look forward to all the posts about where my lines are drawn again, LOL.

Thanks man, your post was so usefull, catching 8 am London...

I guess you are living in UK.

If not you have to follow GMT.

I agree a point with Scullmeister that talking about "HOURS" which have certainly been spoked about before too many times, that it makes him laugh (rather tired)

i am sorry about, I didn't read all the post, I just could not let a guy say a mistake (may be me who did...)

Regards,
Billyjoe

PS : I have just checked,you are in England, come on man...

Pierre · #**1530** Nov 7, 2009 7:46am

Quote:

Originally Posted by Billyjoe

Hello "Pierre" (french ?),

look where you want at this time London is at GMT +0.

London is never at -GMT...

If you get me wrong on this, I would be so ashamed that i will never come back again !!!

Billyjoe

yes italian living in gibraltar

London is never at -GMT... its right...and in winter open 8GMT