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Attachments: Open trade daily at exactly 23:00GMT
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Open trade daily at exactly 23:00GMT

  • #1
  • First Post: Edited 8:04am Sep 11, 2007 3:29am | Edited 8:04am
Try this one out. Buy AUD/USD everyday at exactly 23:00GMT at open of candle but if you see trend is strong for sell, sell AUD/USD. Target 20 pips (less 3pip spread). S/L 20. There are always more buy opportunities during this time that are profitable than sell. But of course, this is not a guarantee that it will work indefinitely. Markets do change.

Note: When trading this way, my minimum profit was only $100 bec. of my broker's 6pip spread and $70 commission. So price has to move 23pips from my open position. That is why am looking for new broker with less spread and no commissions

I just use 5 EMA(close) to see trend.
  • #2
  • Sep 11, 2007 4:02am Sep 11, 2007 4:02am
I like your observation for the currency, about a broker why not try out northfinance.com their minimum deposit is $100.
  • #3
  • Sep 11, 2007 4:31am Sep 11, 2007 4:31am
Are you using North Finance? If yes, how long? Can you give comments, good and bad.
  • #4
  • Sep 11, 2007 10:17am Sep 11, 2007 10:17am
what time frame do you use to look for the trend with 5 ema?
  • #5
  • Sep 11, 2007 10:20am Sep 11, 2007 10:20am
Quoting Qwert
Try this one out. Buy AUD/USD everyday at exactly 23:00GMT at open of candle but if you see trend is strong for sell, sell AUD/USD. Target 20 pips (less 3pip spread). S/L 20. There are always more buy opportunities during this time that are profitable than sell. But of course, this is not a guarantee that it will work indefinitely. Markets do change.

Note: When trading this way, my minimum profit was only $100 bec. of my broker's 6pip spread and $70 commission. So price has to move 23pips from my open position. That is why am looking for new broker with less spread and no commissions

I just use 5 EMA(close) to see trend.
How do you measure a trend?

How do you judge a strong trend?
  • #6
  • Sep 11, 2007 11:04am Sep 11, 2007 11:04am
  •  Drphu
  • | Joined Feb 2007 | Status: Take2Trades and call me in Morning! | 31 Posts
He is just saying buy it @ 7pm est. so doesn't matter what chart 30m might help you get in @ bottom.

Anyway I trade AU a lot it's often @ a good price between 6 - 9:30pm est....
Yep very often... NU often as well but last week that was a sell.

Try yen pairs like that too but take an easy one like AY or NY with the NU AU
trades... Ahhh disclaimer -- Demo or paper trade get the hang of it.
"Make Life's Reality a Dream Come True!" DrPhu
  • #7
  • Sep 11, 2007 9:48pm Sep 11, 2007 9:48pm
Drphu - You noticed that too.

Pipkeeper - usually 1 hr.

Billbss - Just look at the angle. I can't say how many degrees but if you trade often using MA, you will learn how to look at it. But I'm not saying it is 100% reliable.

When I told one of my friend re this strategy, he just follow it blindly by always buying at open of candle since he has no time to monitor. Although he loses some trades, it has a higher percentage of winning than losing. Remember, that if he loses, it's 20 pips. If he wins, it's 20 pips. So if there are more wins, you'll definitely be on the positive side. Just like Drphu said, "Yep very often."

If you can monitor, the better. Sometimes, I have earned more than 80pips when I can monitor trade. .
  • #8
  • Sep 14, 2007 11:18am Sep 14, 2007 11:18am
Hi there Qwert,

How long have you been trading this set up? What are the win/loss ratio?
Do you let your trade hit your SL if let say the price bounce back and does not touch your TP?
Regarding the 5 ema, how exactly you use it?
  • #9
  • Sep 17, 2007 10:18pm Sep 17, 2007 10:18pm
Been using this strategy since May 2007. I never calculated win/loss ratio. Just that I win more $ than lose. If I can monitor, I don't put stop loss but if my trade went to negative $400, I close it for the day.
The 5ema is just a confirmation if I would trade in it's direction of not.
  • #10
  • Sep 19, 2007 10:18am Sep 19, 2007 10:18am
thanks for reply ....
  • #11
  • Sep 21, 2007 9:51am Sep 21, 2007 9:51am
Your welcome, Pipkeeper.

You see, this week alone, you won't have a losing trade. Total this week for AUD/USD +285 pips(by monitoring trade) . I feel more comfortable monitoring trade even for as long as 17 hours a day. It's worth my time. Very stressful though.

Remember, this strategy is used for AUD/USD only.
  • #12
  • Sep 22, 2007 7:02am Sep 22, 2007 7:02am
hello Qwert
have been using northfinance since nov. 2006 have not gotten any problem whatsoever with them their support is fantastic, and their spread is just 3pips 4 audusd, no commissions. thanks once again 4 sharing ur system.
  • #13
  • Edited Sep 23, 2007 12:10am Sep 22, 2007 11:39pm | Edited Sep 23, 2007 12:10am
http://i43.photobucket.com/albums/e3...forex/xpma.gif

You can use xpma(ema[5]) to find the trend.

Pink rectangle = asian session
Green rectangle = euro session
Blue rectangle = New York session

blue EMA line = uptrend
red EMA line = downtrend
Attached File(s)
File Type: mq4 xpMA_v21.mq4   17 KB | 662 downloads
  • #14
  • Sep 24, 2007 7:46am Sep 24, 2007 7:46am
I forgot to state that to trade AUD/USD daily at exactly at the open of 23:00GMT, your broker's MT4 time should be at GMT+0. If broker's MT4 time is GMT+2, trade daily at exactly at the open of 01:00GMT and so on and so forth. Sorry people .
  • #15
  • Sep 24, 2007 9:27am Sep 24, 2007 9:27am
In that case, here's the clock indicator that will show the broker time in GMT. In the COMMON tab, you have to choose "Allow DDL imports"

So My North Finance broker is GMT +3
Attached Image
Attached File(s)
File Type: mq4 Clock_v1_2_auto.mq4   15 KB | 609 downloads
  • #16
  • Sep 24, 2007 6:29pm Sep 24, 2007 6:29pm
does this indi, paint the colors or just list the time frames?


Quoting banzai
In that case, here's the clock indicator that will show the broker time in GMT. In the COMMON tab, you have to choose "Allow DDL imports"

So My North Finance broker is GMT +3
  • #17
  • Sep 24, 2007 6:32pm Sep 24, 2007 6:32pm
nyone trading this today?
  • #18
  • Sep 24, 2007 8:47pm Sep 24, 2007 8:47pm
Quoting mcmep11
does this indi, paint the colors or just list the time frames?
It's just a clock. The session indi is a different one. Please use this updated version.
Attached File(s)
File Type: mq4 Clock_v1_2_auto.mq4   15 KB | 484 downloads
  • #19
  • Sep 27, 2007 8:57am Sep 27, 2007 8:57am
Sorry people, I made a mistake on my broker's MT4 time. My broker's time is GMT+1 and not GMT+0. I only found out when Banzai post the clock indicator. I called my broker and they said they have changed their MT4 time last January 2007.

So if broker's time is GMT+3, trade AUD/USD at open of 01:00GMT.

Thank you for the clock indicator Banzai .
  • #20
  • Sep 27, 2007 6:26pm Sep 27, 2007 6:26pm
so what time EST are we trading this?
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