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High & Low 8 Hours (GBP/JPY)

  • #2,821
  • Feb 27, 2008 5:39pm Feb 27, 2008 5:39pm
its thursday...good luck guys...
  • #2,822
  • Feb 28, 2008 12:00am Feb 28, 2008 12:00am
In the original thread posted by Nicotina, he suggested an 8hr time range from 18:00 to 02:00 GMT (13:00 to 21:00 EST). A revised thread was posted sometime later on suggesting a 7hr time range from 21:00 to 04:00 GMT (16:00 to 23:00 EST). Has anyone compared the 2 time ranges in this system and are there any preferences?
  • #2,823
  • Feb 28, 2008 12:08am Feb 28, 2008 12:08am
High 211.32
Low 210.59
  • #2,824
  • Feb 28, 2008 12:30am Feb 28, 2008 12:30am
high 211.22
low 210.62
  • #2,825
  • Feb 28, 2008 12:45am Feb 28, 2008 12:45am
Quoting microsuck_36
its thursday...good luck guys...


Hi Microsuck.... is it not good to use this system when Thursday???


Hope we all make $$$
  • #2,826
  • Feb 28, 2008 1:41am Feb 28, 2008 1:41am
Quoting fx88
Hi Microsuck.... is it not good to use this system when Thursday???


Hope we all make $$$
its not like that mate. Sometimes there are losses also but not on any particular day of the trading week.
BK
  • #2,827
  • Feb 28, 2008 1:48am Feb 28, 2008 1:48am
sell 210.50 trigerred.
BK
  • #2,828
  • Feb 28, 2008 2:34am Feb 28, 2008 2:34am
Quoting fx88
Hi Microsuck.... is it not good to use this system when Thursday???


Hope we all make $$$
oh i just wanna say good luck so we all can get +100....
  • #2,829
  • Feb 28, 2008 3:43am Feb 28, 2008 3:43am
Sale triggered and stopped out. Buy als triggered and hope it works today. Mt experience is that Thursdays are not usually bad. Mondays and Fridays can be!
  • #2,830
  • Feb 28, 2008 3:46am Feb 28, 2008 3:46am
Guys, what is the broker use by Nicotina?

Cause I get different HIGH LOW from mine, North FInance.


Also, I'm Long from croesesFX High Low data

Hope we All get
  • #2,831
  • Feb 28, 2008 4:28am Feb 28, 2008 4:28am
Quoting fx88
Guys, what is the broker use by Nicotina?

Cause I get different HIGH LOW from mine, North FInance.


Also, I'm Long from croesesFX High Low data

Hope we All get
my high and low are both triggered
cheers
  • #2,832
  • Feb 28, 2008 4:40am Feb 28, 2008 4:40am
Quoting croesesFX
my high and low are both triggered
cheers
SL hit short and long
  • #2,833
  • Feb 28, 2008 4:44am Feb 28, 2008 4:44am
S/L hit both ways, bad day at the office! Try again tomorrow
  • #2,834
  • Feb 28, 2008 5:46am Feb 28, 2008 5:46am
Quoting fx88
SL hit short and long
your SL is 50?
personally I think you need to give this beast some moving space, it will move 50 in a blink, why not try 100
you probably thinking is too high
I have had many trades that have gone to - 70/80 pips reversed and TP at 100
anyway at the end of the day its your call
cheers
  • #2,835
  • Feb 28, 2008 5:50am Feb 28, 2008 5:50am
FXCM

hi-211.99
lo-210.62

Lo already triggered. I wonder what the news will bring?
  • #2,836
  • Feb 28, 2008 7:19am Feb 28, 2008 7:19am
Hi Guys,

What a rough period to trade this system!

On the idea of best and worst days to trade the system I have some information on back testing. There are definitely better days to trade this system. Unfortunately these days change from year to year.

The following is the rough data that I have got from manual back testing since Jan 06

'06
Total pipsMon205 Tue725 Wed290 Thu509 Fri1057

'07
Total pipsMon485 Tue591 Wed1111 Thu729 Fri-477

So far this year Monday is a clear winner with no losing trades. Tuesday, Wednesday and Friday are indifferent and Thursday is not doing well.

My overall impression therefore is that to maximise the performance you must alter the trades according to the day, but you must also keep an ongoing check on how the days are performing.

The bad news is that it looks like Friday should be treated with caution.

I also use this system on the EURJPY and have gone so far as to use a reversal system on some days!

Hope this helps.

Mister ED
  • #2,837
  • Feb 28, 2008 8:30am Feb 28, 2008 8:30am
Thanks Mister Ed. Sorry for being ignorant, but what do you mean by using a reversal system? Very new in this business!
  • #2,838
  • Feb 28, 2008 8:38am Feb 28, 2008 8:38am
Quoting Constantia
Thanks Mister Ed. Sorry for being ignorant, but what do you mean by using a reversal system? Very new in this business!
Hi Constantia

What I mean is that instead of trading a breakout I do the reverse. IE if the price is approaching the high breakout instead of going for the long trade I put in a short trade. If the price is range bound this will trade the retracement.

If the pair you are following is volatile and trending this is a risky business, but I have found that often the EURJPY is reluctant to go far without retracing to a degree.

This situation may be occuring at the moment due to the EURUSD being at all time high levels with a psychological 150 level. Once this has been cleared it may leave much stronger moves to occur and the reversal trades will stop working.

The main thing is to try and keep records of the movements and interperet them in view of the recent price action.

Mister ED
  • #2,839
  • Feb 28, 2008 8:41am Feb 28, 2008 8:41am
Quoting Constantia
Thanks Mister Ed. Sorry for being ignorant, but what do you mean by using a reversal system? Very new in this business!
If you want to learn more about price action, market emotion etc then Phillip Nell's 4 hour MACD thread is very good. You will learn lots about trading even if you do not follow his method.

Mister ED
  • #2,840
  • Feb 28, 2008 8:46am Feb 28, 2008 8:46am
Quoting croesesFX
your SL is 50?
personally I think you need to give this beast some moving space, it will move 50 in a blink, why not try 100
you probably thinking is too high
I have had many trades that have gone to - 70/80 pips reversed and TP at 100
anyway at the end of the day its your call
cheers
Hi Bro, yes I use Nicotina 50pips SL... So personaly you use 100 pips SL and only 5 hours Hi low right. Thank's Will start use it from tommorow
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