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High & Low 8 Hours (GBP/JPY)

  • #41
  • Oct 25, 2007 7:35am Oct 25, 2007 7:35am
Quoting CarlC
Bill,

If I understand this issue about the reference time period, we're looking at setting the hi-low range from 2:00 in the afternoon till 10:00 at night Eastern time (or 1:00pm to 9:00 pm if Nicotina is an hour off, as you've observed). Is that what you get?

This makes some sense, since most currency trading tapers off during those hours, and movement above or below the range for that period might be the Asian institutions re-entering the market and giving us their opinion as to where the market would be (though Tokyo would have been opened for 2 hours before the range is set).

Wonder if it works for other pairs? In the same time range, or something closer to that continents open hours, or off hours?

Will have to explore this.

CarlC

Right now, we're looking at 1 PM to 9 PM Eastern. That's 1700 GMT to 0100 GMT. That will change to Noon - 8 PM Eastern when we lose DST. (This weekend?)

Nicotina said he spent many long hours pouring over charts, finding that time window.

I don't know if it will work on other pairs.
  • #42
  • Oct 25, 2007 10:44am Oct 25, 2007 10:44am
Quoting carmel
Given the strong support at 233.00 would you suggest just going long?

Have you tried this strategy on other pairs? Thanks for sharing this simple but seemingly effective system.
Hi carmel

I suggest put the sell stop but with small lots and yes i tried this strategy G/U but with small TP...
  • #43
  • Edited 8:20pm Oct 25, 2007 4:59pm | Edited 8:20pm
This seems to be a very good system- one of the better ones.

I got stopped out this morning by 1 pip. My spread is 8. If it had been less than that I would have made the 100 pips.


Correction- I wouldn't have made 100 pips- price didn't go that far. I would have been stopped out no matter the spread.
  • #44
  • Oct 25, 2007 6:03pm Oct 25, 2007 6:03pm
Quoting billbss
This seems to be a very good system- one of the better ones.

I got stopped out this morning by 1 pip. My spread is 8. If it had been less than that I would have made the 100 pips.
Hi billbss

I am past my search to excel to post for everyone see
  • #45
  • Oct 25, 2007 6:46pm Oct 25, 2007 6:46pm
Hi Nicotina,
It looks a good profit idea, Thanks for sharing by the way What's your MetaTrader Broker so we can follow your Buy: ???.?? & Sell: ???.?? on Demo for further testing.
Thanks again
  • #46
  • Oct 25, 2007 7:30pm Oct 25, 2007 7:30pm
Quoting efmelp
Hi Nicotina,
It looks a good profit idea, Thanks for sharing by the way What's your MetaTrader Broker so we can follow your Buy: ???.?? & Sell: ???.?? on Demo for further testing.
Thanks again
Hi efmelp

North finace
  • #47
  • Edited 8:03pm Oct 25, 2007 7:49pm | Edited 8:03pm
Quoting Nicotina
25/10/2007


Buy: 234.32
Sell: 232.99(Play with small lots 233 is a very strong Suport)
Close 2 orders SL -100 Pips

Total(413-100)= +313 Pips
  • #48
  • Oct 25, 2007 8:00pm Oct 25, 2007 8:00pm
26/10/2007


Buy: 234.38
Sell: 233.22
  • #49
  • Oct 25, 2007 8:18pm Oct 25, 2007 8:18pm
Quoting Nicotina
Close 2 orders SL -100 Pips

Total(413-100)= +313 Pips
Hi Nicitina,

I only got SL once.

Did you go both long and short?
  • #50
  • Oct 25, 2007 9:16pm Oct 25, 2007 9:16pm
Quoting Nicotina
26/10/2007


Buy: 234.38
Sell: 233.22
Have you changed the Rules ?!!
Attached Image (click to enlarge)
Click to Enlarge Name: rules changed.gif Size: 16 KB
  • #51
  • Oct 25, 2007 11:46pm Oct 25, 2007 11:46pm
Quoting efmelp
Have you changed the Rules ?!!
No, why?
  • #52
  • Oct 25, 2007 11:49pm Oct 25, 2007 11:49pm
Quoting billbss
Hi Nicitina,

I only got SL once.

Did you go both long and short?
No , but if the 1ª order close in SL i open once more time the sell stop and buy stop with the same prices.
  • #53
  • Oct 26, 2007 2:57am Oct 26, 2007 2:57am
hi Nicotina i got first 100pips today.

234.32 bought it and this morning when i checked my account it was plus with 100pips.
i traded on live account and i wish to say you many thanks sharing this method.

thanks again
member
  • #54
  • Oct 26, 2007 9:49am Oct 26, 2007 9:49am
Quoting Nicotina
No, why?
26/10/2007 >>>>> Buy: 234.38 >>>>> Sell: 233.22

Look at the Entry Point in the in the Picture and you will see that you have changed your rules - Am i Right
Attached Image (click to enlarge)
Click to Enlarge Name: rules changed2.gif Size: 21 KB
  • #55
  • Oct 26, 2007 10:15am Oct 26, 2007 10:15am
Quoting efmelp
26/10/2007 >>>>> Buy: 234.38 >>>>> Sell: 233.22

Look at the Entry Point in the in the Picture and you will see that you have changed your rules - Am i Right
No.
You have your time window drawn incorrectly.
  • #56
  • Oct 26, 2007 10:55am Oct 26, 2007 10:55am
This is a simple, effective program for making a lot of pips! Thanks.

Have you, or anyone else, experimented with trailing stops? I notice that some spikes in the direction of the trade reverse to eliminate profits. This may be averted with a trailing stop. I am in the GMT -7 so cannot effectively monitor price action.

Thanks again!
"Loss and failure are inevitable but misery is optional"
  • #57
  • Oct 26, 2007 11:20am Oct 26, 2007 11:20am
Quoting carmel
This is a simple, effective program for making a lot of pips! Thanks.

Have you, or anyone else, experimented with trailing stops? I notice that some spikes in the direction of the trade reverse to eliminate profits. This may be averted with a trailing stop. I am in the GMT -7 so cannot effectively monitor price action.

Thanks again!
Trailing stops always take away from your overall profits, in the long run.
They sound good, but they don't work.
  • #58
  • Oct 26, 2007 11:43am Oct 26, 2007 11:43am
hey nicotina good system mate. Okay now what were orders for today???
regards,
bksujal
  • #59
  • Oct 26, 2007 11:51am Oct 26, 2007 11:51am
Quoting billbss
Trailing stops always take away from your overall profits, in the long run.
They sound good, but they don't work.
Hi everyone

I agree whit you billbss in this system the TStop dont work!
I search a way to reduce the negative trades and accepted suggestions
  • #60
  • Oct 26, 2007 5:08pm Oct 26, 2007 5:08pm
Hi Nicotina,

Well correct me if am wrong according to my time window drawn incorrectly (see the picture in my last message) do I must add +1 hour to your rules so I must find the maximum and the minimum between 19:00GTM and 3:00GTM - if that is corect then your time is between after London session (Close) and starting of Tokyo session (Open) .

Can we trade next week when the market opens according to rules or no trade.

According to your rules if the (2) Lots activated and got closed on TP targets then you must make 200 Pip in one day but how to make +413 Pips a day are you doubling lots or what you mean by " Closed on target +100 Pips Total(313+100)= +413 Pips " .

Thanks in Advance
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