So after determining the highest and lowest, we set leave it from 0200 to 1800 for the buystop and sellstop, right?
Ignored
I'm not sure I understand your question.
After determining the high and low from the 8 hour window (1800 until 0200), we set a buy stop order at the high and a sell stop order at the low.
If one of these gets triggered and then gets stopped out, we set up the same order again.
As soon as we win a trade, we stop or as soon as we get stopped out twice, we stop.
The most we can win in a day is 100 pips.
The most we can lose in a day is 100 pips.
Hi guys,
I have been using this system for the last few weeks but I wouldn't trade on Sunday nights . I was just wondering how this system was working on the first trading day of the week and after holidays.
I'm not sure I understand your question.
After determining the high and low from the 8 hour window (1800 until 0200), we set a buy stop order at the high and a sell stop order at the low.
If one of these gets triggered and then gets stopped out, we set up the same order again.
As soon as we win a trade, we stop or as soon as we get stopped out twice, we stop.
The most we can win in a day is 100 pips.
The most we can lose in a day is 100 pips.
Hi guys,
I have been using this system for the last few weeks but I wouldn't trade on Sunday nights . I was just wondering how this system was working on the first trading day of the week and after holidays.
Ignored
the volitility is lower I believe so it will throw off our gains/losses a little but the idea still works I think I picked up about 30 pips today and closed it since I saw a lot of resistance, after 10 more pips it switched directions, still have a lot of hours ahead so it might work for nico but I like to play on the safe side a little
good luck on this one Nico
Im with jonas, just to be safe, there is a big support around this point, got 28 pips, a great week, thanks to nicotina to share his experience, i also combine this strategy with part time weekly scalping from Tkimble.Done for the week with good profit.
Thank you. So just to clarify, if both the buy and sell gets triggered and say the long hits sl but the short is still open then we do not set up another buy stop order. Am I correct?
I'm not sure I understand your question.
After determining the high and low from the 8 hour window (1800 until 0200), we set a buy stop order at the high and a sell stop order at the low.
If one of these gets triggered and then gets stopped out, we set up the same order again.
As soon as we win a trade, we stop or as soon as we get stopped out twice, we stop.
The most we can win in a day is 100 pips.
The most we can lose in a day is 100 pips.
Thank you. So just to clarify, if both the buy and sell gets triggered and say the long hits sl but the short is still open then we do not set up another buy stop order. Am I correct?
Thanks.
Ignored
That is correct.
The open short trade will either hit SL or PT. In either case, you're through for the day.
Jonaslt,
Can you also look at if there is any correlation between the min-max spread and the success of the system? it seems like it is doing pretty well when spread is around 150 pips. It would be really good to see that (since you mentioned that system did not work before this year)
Ignored
Just to clarify, do you mean in the time 18-2gmt when we take the hi/lo?
I got some data going back to 2000 and trying to get some stats out of it, sort of a pain with excel but in the long run think there's much more I can do with it in terms of analysis
Let me know about that one but that's what I looked at so far but don't think there's any correlation, in a lot of cases the spread on the sample is lower during these months that I see and we're getting better results
I'm not sure I understand your question.
After determining the high and low from the 8 hour window (1800 until 0200), we set a buy stop order at the high and a sell stop order at the low.
If one of these gets triggered and then gets stopped out, we set up the same order again.
As soon as we win a trade, we stop or as soon as we get stopped out twice, we stop.
The most we can win in a day is 100 pips.
The most we can lose in a day is 100 pips.
Ignored
Hi there, I´m new to the forum and been reading about this system. If I understand the minimum and the maximum are determined between 18:00 and 2:00 am GMT, is that correct? Then we entry long if the price goes above the maximum and we go short if the prices goes below the minimum level, ok? Yesterday I had an stop entry (selling) at 223.03 with a profit target of 100 pips and a Stop Loss of 50 pips. When I woke up I saw that my stop loss was triggered by the 9:00 am GMT candle 8hourly chart). I dont know if this spike had to do with some news release or not. The question is, when an important news is about to be release, do you set your profit at 100 pips anyway, or its better if I you set a 40 - 50 pips Profit target?
For the last, the time when lots can be open using this system is after 2:00 am until 18:00 GMT? I think this system can work very well, so I´would try it out. Thanks and sorry about my english.
Hi there, I´m new to the forum and been reading about this system. If I understand the minimum and the maximum are determined between 18:00 and 2:00 am GMT, is that correct? Then we entry long if the price goes above the maximum and we go short if the prices goes below the minimum level, ok? Yesterday I had an stop entry (selling) at 223.03 with a profit target of 100 pips and a Stop Loss of 50 pips. When I woke up I saw that my stop loss was triggered by the 9:00 am GMT candle 8hourly chart). I dont know if this spike had to do with some news release or not. The question is, when an important news is about to be release, do you set your profit at 100 pips anyway, or its better if I you set a 40 - 50 pips Profit target?
For the last, the time when lots can be open using this system is after 2:00 am until 18:00 GMT? I think this system can work very well, so I´would try it out. Thanks and sorry about my english.
Ignored
Today it was stopped out on a short trade for -50. It made profit on the next short trade for +100.
Total = +50 pips.
You can change the PT before news if you want to, but that's not part of the system.
Today it was stopped out on a short trade for -50. It made profit on the next short trade for +100.
Total = +50 pips.
You can change the PT before news if you want to, but that's not part of the system.
Ignored
thnanks for answering in short time, how do you trade this system, market orders or pending orders. Do you set just once stop entry or in case you are stopped out set another one some pips below or above the fisrt one?
thnanks for answering in short time, how do you trade this system, market orders or pending orders. Do you set just once stop entry or in case you are stopped out set another one some pips below or above the fisrt one?
Ignored
read the thread it's all in there
but...
it's pending orders, it's two entries at once, once one is triggered the other should cancel, if you get stopped out once you reopen with same values, if stopped out twice you quit, if you take profit once you quit
I don't believe one of the orders being filled should result in cancellation of the other order. In fact, last week, I traded the Nico 12 which is GBP/USD @ Midnight CST. The Buy ended in a stop loss for 20 pips, BUT the Sell was filled for an eventual 40 pip win! So...my understanding is if the market doesn't trigger your position trades, you wait until end of day to close out the pending trade or trades manually.
I don't believe one of the orders being filled should result in cancellation of the other order. In fact, last week, I traded the Nico 12 which is GBP/USD @ Midnight CST. The Buy ended in a stop loss for 20 pips, BUT the Sell was filled for an eventual 40 pip win! So...my understanding is if the market doesn't trigger your position trades, you wait until end of day to close out the pending trade or trades manually.
If I am wrong, please correct me...Billbss?
Ignored
Hmm, think you're right, not sure why I thought otherwise since it would make sense. Personally, since I'm doing G/J now, don't think I would do it myself since for each to TP I would probably need a 350-400 minimum spread between highs and lows that day, may be a little easier with cable, not sure.
I'm still trying to pick up some stats on this and see why it all works and why it didn't used to, but for this one I think you're right you can let both of them ride out and only reset one when it gets stopped out if it does.
