Dislikedi think you will find it's simply the way these pairs we are trading are behaving. as many have said, it's choppy.
interesting you should mention the entry time.. i have been thinking about the same thing. purely because of the whipsawing that is happening in the first couple of hours. once the GBPJPY starts trending again 00:00GMT works fine. to adapt to the changed market conditions, i have just checked out a few different options...
i am using some different rules of my own.. here are 5 different results for 5th March to this Friday just gone (i went with this date as I have been live trading and recording all my trade details from this date)
00:00GMT entry in prev days direction.. 97 pips
01:00GMT entry in prev days direction.. 413 pips
01:00GMT entry in first 1 hour bar direction.. 921 pips
02:00GMT entry in prev days direction.. 246 pips
02:00GMT entry in first 2 hour bar direction.. 219 pipsIgnored
Very interesting Ryan, I too was looking at starting to enter my trade in at 1:00 gmt. (Check post #1433) But to follow the previous day's direction, not to follow the 1st hour bar. What SAR do you use? (40 or 50)