London close trading system for currencies

Have a nice weekend everyone. I am not taking this for the next month. Too risky during times like this. The re traces we look for on the London Close seem not to be happening as fast as currencies are following the US Stock Markets.


Cheers

Jeff

I will trade London close EA only with minimum Lots, to see the market work
and strong settings

- The Range Trader EA work well with GBPAUD, DAX and XAUUSD too

- The Rose's "holy grail" EA work good with EURUSD

- The One Click EA "you can't loose" trade well manually with Stop and Limitorders EURUSD

I don't trade London close today difficult prices

six trades closed with small chicken profit

am I the only one left? The Last of the Mohicans?

NO !! I'm here, but no trade today London close

trade with Range Trader EA XAUUSD, Gold and DAX and all go well !!

and the one click EA "you can't loose" work well too with EURUSD
trade manually with stop orders and limit orders

So you missed a quick basket ;-) Funny, when you have good days my trades are bad, when you are all out I am doing well...

And yes, XAUUSD is nice to watch. Better than TV!!!

Fri 3%
Mon 10%
Tues 7.5%

Wow if only this had been real Changed the settings to basket 10% SL&TP... letting the profits run and then either close using 20 SL/TP or basket 10% or just a decent amount....that way the odd 10% loss doesn't impact as much...

I don't trade this week London close

- I trade only RangeTrader EA with GBPAUD, XAUUSD and DAX work well

- I trade "Roses holy grail EA" work very well like "holy grail"

- I trade with the one click EA "you can't loose" with stop orders buy and sell very well

look to the threat's

LC is working well as well (strong settings, low basket TP)
Just closed two GBP trades with profit...

5% today due to most trades taking the 20 TP - closed one manually. Interesting - yesterday they did well because they were mostly limit trades and today because of the 20 TP - lucky week so far..)

Well what a crazy week - 25 trades.. yes 25 ..on Thursday and that only included 3 limits - I would have closed this manually if it was a live account due to possible margin call issues with a tiny profit, but allowed it to run and ended in a 10% basket loss; then no trades at all for Friday... BUT 11% for the week which is promising - allowing the other days profits to run.

don't forget to change the time for London close !!

the Brokers have change the Broker time and London hav'nt change the time

Thanks - still got 10% on worse entries at 18:00!

Why is the EA taking 18:00 entries if it still set to 17:00 - doesn't it automatically adjust?

If you are referring to the xm7_Londonclose EA then this is what is happening:

The GMT hour you place in the input (GMT_TradeTime) is simple that GMT.
GMT per say has not changed. Only we changed hour times.
For example, FXchoice was GMT+2 BEFORE the change, when the day to change the hour came, FXChoice changed their hour up,
So then that made them GMT+3. Remember GMT did not change only the broker changed its clock by ADDING an hour, hence GMT+2 changed to GMT+3.

Take note... say you had entered 10:00 GMT. Before the time change the EA would start to open trades at 12:00 broker time (GMT+2).
AFTER the time The EA will now try to open trades at 13:00 Broker time, cause now the broker is GMT+3.

So if you want to keep the same BROKER open hour then you need to change your GMT_TradeTime input from 10:00 GMT to 09:00 GMT.
This way the EA will continue to start at 12:00 BrokerTime.

Basically you need to adjust the GMT_TradeTime input but 1 hr. You subtract 1 hour going into summer (like now) and then add that hour back going into the winter (around November period)

Hope that helps.
Jess

Very helpful thanks Jess -so in the case of LC we want to keep opening trades at 17:00 GMT, so no change.

EA UPDATE v40

xm7_LondonClose_v40.ex4

version 40 is ready for downloading. I made an up date on the way the EA grabs the GMT hour.
Nothing major since this EA has had no issues with the GMT time calculations but just in case v40 now has a more definite way of making sure the right calculation is made.

Peace,
Jess

PS:
EA and INDICATOR UPDATES Files located at:
https://github.com/xmess7/LondonCloseEA

Thank you. Still on sidelines with this strategy in this crazy markets.I will get back to it in a few months time.


Cheers

Jeff

Thanks Jess much appreciated as always; 17% up for the month using basket 10% SL/TP icmarkets demo

Wow 14% in one night after a little positive slippage! 12 trades, all winners, 9 pairs + 18% for the month. This system is proving very resilient with the recent volatility - each basket has a chance of 10%+ winner but no more than 10% loss so R:R remains acceptable. Still a very high-risk approach ( as we don't know how many consecutive losses this may hit over a longer period) but seems to like the recent volatility! icmarkets demo 10% basket SL/TP.