No Free Lunch but all the Free Coffee you can drink
-jarroo-
Good to see someone else taking the same trade I did this morning.
But I didn't get stopped out of my second piece as in your instance.
I got 20+ pips on my first half (only ~13 pip original risk) and placed my stop below the inside bar. It hasn't been hit yet, but it was VERY close.
You definitely have the idea and I agree- I too will take trades like this all day.
-PeterCrowns-
This is a topic that we need to discuss. Nailing down the Open of the new day. We will find it. It may work better at different times for different pairs. We shall see.
Don't worry about me being "put off".This is a lot a fun to me.
But I will be short with people at times if they do not take the time to read and study this entire short thread to find their own answers to their questions.
Jim
I think the "start" of the new day may vary from trader to trader. As PeterCrowns said before he had a friend of his who traded mainly the Yen pairs so the Asian session would be considered the start of the new day in his case.
I trade mostly the European/London session but for this type of DIBS trading method I would consider the start of the day to begin at 0600 GMT (dst) which is the Frankfurt open, which is 2am EST.
My questions seem to do more with establishing the overall daily trend. I've been placing my 24 hr long white dotted lines on the closing price at midnight of each day 2400 GMT.
