NY Break Out

I can't believe how people constantly confuse Standard Time (i.e., EST) with Daylight Time (i.e., EDT)

The originator of this system suggests to take H/L of the last and first 1 hour of the market.if you wanna trade the first 2 hours feel free

When trying to quote post it says the URL entered is an "invalid file".

Got the URL by clicking on post, e.g. #127, and copying the URL.

Also, would like to know how to edit out part of the post being quoted.

many thanks, brucewhain

originally posted by brucewhain: Post #127, above:

"Have taken the liberty of adjusting the box in the PANCA indicator (2 hours, 14 minutes, and 60 **cking seconds ((A minute has sixty seconds, by the way, lest anyone become militaristically testy.)) to a location one hour later than posted above, i.e. 8:00-10:00 Eastern Time... since the NYSE actually opens at 9:30, although off-hours trading begins around 8:00 or 8:30 for the general public. (Usually forex starts any NY-session-impelled movement about 30 minutes before the 9:30 opening.)"


originally posted by brucewhain: Post #205, above:

"Box is positioned at 8:00 - 10:00 Eastern Time, and will be necessary to move when NY goes to Standard Time. Believe this is one hour later vs. orig. Big Dog positioning. It looks different than positioning posted above in this thread by me because that broker was GMT+3 and this one, IBFX, is GMT."

I'm just getting my feet wet with this strategy - grabbed 16 pips with the GBP/USD. I want to establish a winning track record with this strat. before trying the 5M one that most seem to have gravitated towards. p

The cable & E/$ ranged too wide for me to enter. I entered:

Swissy - Buy stop @1.1068 & hit +25 pips (1.1093) at 13:20 GMT.

$/Y - buy stop hit @105.45 but this trade made me very nervous and got out at 105.53 at 14:10 GMT. I'll see what hindsight says later today.

+33 pips this morning. A good strategy so far.

edit: I have to learn to trust the strategy as getting out early in the yen cost me a bunch of good pips. Oh well.

+ 30 pips in 14 minutes

L/$ - sell limit hit @ 1.7726 at 09:01 EDT;
TP 1.7706 at 09:10 +20 pips

Swissy: - buy limit hit @1.1279 at 09:12, closed at 1.1289 at 09:15 +10

done for the day. Good strategy and thanks to all for posting. p

I did not like the wide price ranges of the E/$ & cable so I entered the $/Y:
Buy Stop entered @ 105.64 09:19 EDT. SL hit @105.40. I probably will not trade Fri because of NFP. Good trading all.

edit: I forgot I adjusted my SL to 105.52, a -12 pip loss

I have been paper trading this strategy for months and it has been showing good risk: reward ratio when in-line with the major trend. if we can introduce ma 90 or 85 as a filter then we are close 3 holy G. Can any one help me with the name of the indicator in circle in the attached pics..........

Beside this cushion system is there someone who is exprimenting with other indicators or systems that can minimize the false breakout signals, because
once we can minimize this false breakout signals, this system will be an excellent trading system.
I hope somebody can help
Thanks and happy trading
veryspecial1

I've made an EA that is based on trading Initial Balances and it could actually be used for this strategy of trading break out of other market sessions. Check it out:
https://www.forexfactory.com/thread/...alances-and-ea