Asia time sleep over strategy | Forex Factory

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Asia time sleep over strategy

  • #1
  • First Post: Aug 9, 2007 8:59pm Aug 9, 2007 8:59pm
i been monitoring this and find that this usually happen. at GMT 16:00hrs, when current is BULL just go long...tendency is that you will be right till 24:00hrs. earning small pips on the way. best if you are in asia.. cos your money work for you while you sleep

method
- at GMT 16:00hrs, see what is the last bar. Bull - Go Long & Bear - Go Short.
- close is at 24:00hrs
- Stop is 30-50 pips from entry. (this depend on the pair you play. GBP/USD should be 50pips as the movement in this pair is quite big.)

for all to comments.
  • #2
  • Aug 9, 2007 9:22pm Aug 9, 2007 9:22pm
Quoting SynWind
i been monitoring this and find that this usually happen. at GMT 16:00hrs, when current is BULL just go long...tendency is that you will be right till 24:00hrs. earning small pips on the way. best if you are in asia.. cos your money work for you while you sleep

method
- at GMT 16:00hrs, see what is the last bar. Bull - Go Long & Bear - Go Short.
- close is at 24:00hrs
- Stop is 30-50 pips from entry. (this depend on the pair you play. GBP/USD should be 50pips as the movement in this pair is quite big.)

for all to comments.
I just did a fast check on the follow pairs for August 9, 2007 and it looks like you are correct (at least for today).

EU, UJ, GU, EF, AU, UC

Very interesting observation, how long have you noticed this happening and do you have favorite pairs?

Thanks for sharing
  • #3
  • Aug 9, 2007 11:30pm Aug 9, 2007 11:30pm
What time frame's candle r u looking at ?
Should u close at 24 GMT or set a TP to hit and of course SL to safeguard ?
Interesting simple price action technique.
Thanks for sharing your observation.
When the wave comes - jump !!
  • #4
  • Aug 11, 2007 9:47am Aug 11, 2007 9:47am
Quoting 4xmyworld
What time frame's candle r u looking at ?
Should u close at 24 GMT or set a TP to hit and of course SL to safeguard ?
Interesting simple price action technique.
Thanks for sharing your observation.
i am looking at the 4 hr time frame and there is no TP . just close at 24:00
  • #5
  • Aug 11, 2007 9:48am Aug 11, 2007 9:48am
Quoting Skygod
I just did a fast check on the follow pairs for August 9, 2007 and it looks like you are correct (at least for today).

EU, UJ, GU, EF, AU, UC

Very interesting observation, how long have you noticed this happening and do you have favorite pairs?

Thanks for sharing
i notice this happening for about 1 month already... but it does not always works every night.
  • #6
  • Aug 11, 2007 10:52am Aug 11, 2007 10:52am
Are you considering entering at a better than market price? For example if EURCHF trades at 1.6400 you could place an entry limit order to go long at 1.6395 Good Til 22:00GMT. Just an example.
Also would you say the risk is greater than reward? It appears to me that risk on this strat is always going to be greater due to unforseeable movements in the forex market. To use the EURCHF again. If EUR makes a statement about GDP expectation is now less than last quarter we will surely see EURCHF go down and not range trade which means if we are long there will be no chance to exit at breakeven or small gain.
This system must be backtested over a year or more to verify if the drawdown is acceptable and if there is alpha/profit/edge available.
It really is that easy.
  • #7
  • Aug 12, 2007 9:57am Aug 12, 2007 9:57am
Quoting THE FxORCE
Are you considering entering at a better than market price? For example if EURCHF trades at 1.6400 you could place an entry limit order to go long at 1.6395 Good Til 22:00GMT. Just an example.
Also would you say the risk is greater than reward? It appears to me that risk on this strat is always going to be greater due to unforseeable movements in the forex market. To use the EURCHF again. If EUR makes a statement about GDP expectation is now less than last quarter we will surely see EURCHF go down and not range trade which means if we are long there will be no chance to exit at breakeven or small gain.
This system must be backtested over a year or more to verify if the drawdown is acceptable and if there is alpha/profit/edge available.
i am thinking of keeping this simple. so would just open on the dot.
there is a already a stop loss set when you enter, so don't need to move it.

Anyone care to back test it for 1 year??
  • #8
  • Aug 12, 2007 3:07pm Aug 12, 2007 3:07pm
Quoting SynWind
i am thinking of keeping this simple. so would just open on the dot.
there is a already a stop loss set when you enter, so don't need to move it.

Anyone care to back test it for 1 year??
I began backtesting this from January 1, 2006 and finally had so many losses and so much drawdown that I stopped testing. Nice idea, I really wish it would have worked.
  • #9
  • Aug 13, 2007 9:14am Aug 13, 2007 9:14am
Quoting Dreamliner
I began backtesting this from January 1, 2006 and finally had so many losses and so much drawdown that I stopped testing. Nice idea, I really wish it would have worked.
many thanks for your effort!!! really appricate it. i think i better fine tune it.
will post if i find a better way to do this. thanks again.
  • #10
  • Aug 13, 2007 2:34pm Aug 13, 2007 2:34pm
I would really love to trade this way, it suits my style and timeframe perfectly. So if you are able to fine tune it please present that here as it certainly has my interest and I would be happy to help backtest and forward test. Keep at it!

Quoting SynWind
many thanks for your effort!!! really appricate it. i think i better fine tune it.
will post if i find a better way to do this. thanks again.
  • #11
  • Aug 13, 2007 2:48pm Aug 13, 2007 2:48pm
from Ronco... (I think it was for some Rotisserie device)

Set It & Forget It!

would be cool if FX worked like that...
  • #12
  • Last Post: Aug 14, 2007 7:03am Aug 14, 2007 7:03am
Quoting ycomp
from Ronco... (I think it was for some Rotisserie device)

Set It & Forget It!

would be cool if FX worked like that...
yeah working towards that kind of system. :
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