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Attachments: GBPJPY Daily Trend Method
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GBPJPY Daily Trend Method

Missed the break even point by 4 pips!!!
Quoting MichaelLee_8
Missed the break even point by 4 pips!!!
I know... momentum seems to be in our favor and hopefully the trend will resume.

Have you thought of giving a name to your system?
No not really. I don't know what to call it. Do you have any ideas?
You can call it anything you want. I would name the system after a river, based on the way the Custom Trend moves.

Tonight trade is not looking so good...
Quoting Trilonfelis
You can call it anything you want. I would name the system after a river, based on the way the Custom Trend moves.

Tonight trade is not looking so good...
7:00 PM trade just missed my take profit by 4 points....Stop moved to break even.
7:00PM trade just hit it's target! Total May Pips: 143
AUDJPY has now broken the "flash crash" lows!! Could be a bearish sign for equities.
Quoting MichaelLee_8
Hey Cosmo,

Thanks for looking into my method. What you are proposing seems a bit different than what we are doing here. Would you mind defining "good results" for us?

Michael
Michael, i have looked back at trades to the start of 2010 and your method seems to filter out 'bad' trades on the 4 hour TF.
I normally only trade the daily TF but am using your method on the 4 hour prior to entering a trade on the daily, also thanks for sharing your method.

Glenn
Quoting Cosmo
Michael, i have looked back at trades to the start of 2010 and your method seems to filter out 'bad' trades on the 4 hour TF.
I normally only trade the daily TF but am using your method on the 4 hour prior to entering a trade on the daily, also thanks for sharing your method.

Glenn
Glenn,

Can you provide a spread sheet for everyone to look at? Sounds interesting.

Thanks,
Michael
Traders,

I just tested 4/09-8/09 and used 5:00 AM EST as the start time.

Total Pips: -1396

August was down over a thousand pips by itself!! So 5:00AM EST is a no go. I think someone mentioned 2:00 AM EST so I'll test that next.
Euro rallying hard here......Could be the start of a massive and overdue short squeeze.
WOW.....EURJPY just put in a 175 pip hourly bar!!!!!
Quoting MichaelLee_8
No not really. I don't know what to call it. Do you have any ideas?
How about ADX 25 System?
Quoting MichaelLee_8
Traders,

I just tested 4/09-8/09 and used 5:00 AM EST as the start time.

Total Pips: -1396

August was down over a thousand pips by itself!! So 5:00AM EST is a no go. I think someone mentioned 2:00 AM EST so I'll test that next.
Hi Michael,

I guest that was me who said that My question first, it it correct that the 3 bars you pick is 1,5 hours after the NY open? NY open at 8:00 AM EST right? If it's correct, so for the London open we would be using the bars that start at 4.30 AM EST, since London open at 3:00 AM EST.

Let me know if it's wrong..
Quoting Bay
How about ADX 25 System?
Hmmmmmmm.....catchy. I like it. Anybody else have any ideas??
Quoting a2xm
Hi Michael,

I guest that was me who said that My question first, it it correct that the 3 bars you pick is 1,5 hours after the NY open? NY open at 8:00 AM EST right? If it's correct, so for the London open we would be using the bars that start at 4.30 AM EST, since London open at 3:00 AM EST.

Let me know if it's wrong..
Yes, you are correct. However, the last hour of trading for London is 10-11am est. That's part of the reason I picked those bars. The market gets a lot of it's direction for the day during this time period.

I believe that every open/close is going to be different. For example, most of the European markets open BEFORE London. Germany is the largest economy in Europe so I think starting 2 am est would be a good time to start. However, all of my thoughts and beliefs are subject to back testing.

Thanks for your thoughts and feedback. I appreciate it!

Michael
Traders,

Looks like a long trade is setting up but who knows. It's been a crazy morning! Been up since 4:30 est and the moves have been completely insane!
Very nice movements off of the pivot levels recently.
Attached Image (click to enlarge)
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Standing by to go long in 15 min.
Cool.....did you trade the 7pm signal from last night?
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