Best way to trade London open?

Does anybody focus on just trading the London open? what works for you?

The London Open is touted to be the best trading time/session.

I have heard of traders using BO strategies with moderate success when looked at an entire year of trading.

You asked for personal success...I cannot say that I am profitable in Forex, so I guess this is a wasted post... but I want to wish you success in your quest.

ES

Hi all. If you want to take some pips in the london open, try the breakout+spread thread in the trading systems zone, put the indicator with 00:00 and 06:00 ( for the box) until ( its whith you) say 13:00, (London hour) and when it breaks go for 20 pips or more,its wth You. That indicator make a box with the high and low between 00:00 and 06:00 and, it draw also a box until the time you want,lets say 13:00, so you can see clear the break of the day open( many times is the day direction.) ALL good for your trades.

Determine medium term trend, if you can't, walk away.
If you can determine trend, trade the pullbacks.

london open is a myth

The London stock exchange opening is a myth, interesting...is that like the fake moon landing?

No.

Try the breakout box the other guy talked about. Also Look up acrete's posts.

funny you mention accrete. if you go to his webpage, you'll find that he did extensive studies on the london breakout strategy, and found there to be no advantage.

NY open is a myth also.

...so is the 'Asian session'...

not sure how the london open is a myth - yes it is not a concrete time where a bell rings and the GBP starts trading...but the increase in price action/volatility is witnessed daily around the same 2 hr window is it not?

There is definitely an increase in the range of hourly candles and an increase in volume at around the same time each day (about 4-5pm my time). Just happens to coincide with DAX, CAC and FTSE sessions starting...
TO be fair I think Tdion was refering to something other than the stock exchange openings being a myth. Care to elaborate?

Ever try the it. It explodes & then resides. Make money.

Check the range up/dwn. For the first few five minutes,bars, I think. To get a range that trades within for a couple more bars Then when that range is broken to new hi's or lows...jump in that direction. Make few pips. ie let a fast range be set...then when broken and I think pull back...it will go in the direction it broke. Something like that. Few years ago I made money at that...now I have a better method. Secret.

i should have said that "trading breakouts at the london open doesn't give you any advantage." it's a myth that it does.

Hi ruthy,

could you pls explain more abt ur london opening trade....i'm newbie...hope ur method will help me...

thanks....

Hi all

I specialise on the London Open and have done for quite a while...

I post under The London Open and will always post my trades around midday.

Very quiet today with limited alerts out in GBP and USD.
Picked JPY strength and CHF strength today, even in a quiet market for a few pips…

GBPJPY - Drifting lower from 203.65 and target 203.10

USDJPY - With Jpy strength the 21 CCI showed us an entry from 104.00 for a breakout…

GBPCHF - My favourite currency pair.. Amazing how much this can move on a quiet day… Break below 200ma at 2.0500 for a move to the 4hour support line at 2.0415.

EURUSD - With USD weakness all round the Eur found support off the 60min 20ma and the daily 20ma for a move from 1.5575 to a break of the 1.5600 level.

Infact i have just posted on my Thread called the London Open with a name Dan007..Any questions please ask there....

London open is very good.
Since June, this has been a very profitable tactic breaking out of the Asian session box with a 50:50 success rate with trades at 1:2 R:R.

All,

I used to trade London Forex Rush and now trade London Forex Open - both take less than 5 minutes each morning at 08:00 GMT - it only trades cable not all the other crosses like Rush but the indicator is reliable - no repainting. Only been trading it since Jan but so far it's been kind to me - all results on their website are the same as mine except I missed one winner as I was not around (ok - hungover!).

Hope it helps.

It can bring in some pretty fast pips I call it the LOB or the "London Open Breakout" I only trade it in the direction of the main trend and I think the best pairs to trade during that time which is at 8:00GMT and the first couple of hour of that session are:

The GBP-crosses such as GBPUSD, GBPJPY, GBPAUD, GBPCAD, GBPNZD, and GBPCHF (all of them with over 120 pips/day on average). In second place come the EUR-crosses, especially EURJPY, EURNZD, EURCAD and EURAUD (all of them with over 100 pips/day on average). I personally avoid EURUSD(Although sometimes the EU will go), EURCHF and EURGBP because they just don't have the punch. Finally, USDCHF may also be suitable for the L.O.B. strategy.

I use the hourly chart for my setup chart and like to see some directional bias, it is not really a trend trading method per se but trading in the direction of the trend certainly adds a little more merit to the breakout.