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  • #161
  • May 1, 2009 2:21pm May 1, 2009 2:21pm
Quoting matte
Rastaman, i had had an idea! if you think at sunday evening, when the forex week starts, you'll see that if here, in italy, the platform receives the first quotes at 23.00, that means that the asia session starts at 23 here in italy! and that is for the entire week. as the first quote comes at 23 of sunday, the asian session starts at 23 italian time. don't you agree?
No.
Tokyo opens at 23:00 GMT.
In Italy you are GMT +2.

What does that mean?
What time is 2300GMT in Italian time?

It's 1:00 AM.
  • #162
  • May 1, 2009 3:38pm May 1, 2009 3:38pm
Quoting billbss
No.
Tokyo opens at 23:00 GMT.
In Italy you are GMT +2.

What does that mean?
What time is 2300GMT in Italian time?

It's 1:00 AM.


usually it's just 1 hour. london 22, milan 23.
now whe are in summer time son there are 2 hours.
ANYWAY, listen, i'm talking about facts, not theories. if i sunday see the market opening at 23 italian hour, that will means that the asia session has started. isn't it? i see quotes-->asia has started
  • #163
  • May 1, 2009 4:10pm May 1, 2009 4:10pm
Quoting matte
usually it's just 1 hour. london 22, milan 23.
now whe are in summer time son there are 2 hours.
ANYWAY, listen, i'm talking about facts, not theories. if i sunday see the market opening at 23 italian hour, that will means that the asia session has started. isn't it? i see quotes-->asia has started
No, it does not mean that.
It only means that trading is being done with your broker.
Australia and parts of Asia may trade before Tokyo opens.

I've told you when Tokyo opens.
It opens at 0800 Tokyo time.
That is 2300 GMT.

That is 1 AM Italian time.
  • #164
  • Edited May 2, 2009 1:33am May 1, 2009 9:57pm | Edited May 2, 2009 1:33am
Tokyo Open Time 9:00 AM is 2:00 AM in Rome.


Right now it is 11:59 AM on Sat May 2 so in Rome it is 4:59 AM Sat May 02.

Based on the fact that Rome is 7 hours behind Japan, Tokyo will open for you on Monday May 4th 2:00 AM.

London open will be at at 7 am in Italy.

So, watch the P4 clock and if London opens at exactly 7 AM Italian time, you are set to go.
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Starting to see instead of just looking.
  • #165
  • May 1, 2009 11:53pm May 1, 2009 11:53pm
http://www.forexmarkethours.com/GMT_hours/02/
  • #166
  • May 2, 2009 12:55am May 2, 2009 12:55am
1) Get a coin.
2) Flip the coin.
3) Heads go long.
4) Tails go short.
5) Don't bother with a stop loss.
6) Let trade run until hell freezes over.
  • #167
  • May 2, 2009 1:27am May 2, 2009 1:27am
Quoting johnthom
1) Get a coin.
2) Flip the coin.
3) Heads go long.
4) Tails go short.
5) Don't bother with a stop loss.
6) Let trade run until hell freezes over.

Oh, you do, do you?
Then prey enlighten us with your own trading system.
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Starting to see instead of just looking.
  • #168
  • May 2, 2009 1:38am May 2, 2009 1:38am
Quoting Paulus
ok few changes mid way through the week

Im only following 3 now

GBPUSD
GBPJPY

there the 2 main big boys on this system

Im also adding

EURJPY .. its an Asian based swap and the Euro is heavily traded by all

Monday to Friday results on the 3 Im taking 50% off at 75% as per the back test that was carried out... bring the rest to break even..... at 100% close the last 50% ..or close at end of day if TP or SL not hit

GBPUSD
-37-6+41-32+85 = +51

GBPJPY
NT +0+68-10+112 = +170

EURJPY
+90+67+58-16 = +199 and long from 131.97.. 75% is at 132.51

I...

Paulus

What do you have against EUR/GBP?
The spread is 3 pips and it looks pretty consistent to me.
GBP/JPY is 6 pips spread which is ok if you catch the trend but possibly a killer if your SL gets hit.
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Starting to see instead of just looking.
  • #169
  • May 2, 2009 8:03am May 2, 2009 8:03am
Quoting Paulus

Set up your fib tool with just 0.00,50%100% after the numerical figure in the properties add %$ after the figure to get the price on the fib lines
If a long is triggered place your 0.00 on the low and move the tool to get the 50% line on the high.The 100% line will give you your TP the 0.00 line will give you your SL

Paulus
Paulus,

Thanks for sharing this system. I am having problems implementing fibs as per your instructions. Trying as best I can, on your long trade example, I cannot make it work to stretch the fib tool to place 0.00 on the low and move the tool to get 50% on the high. Sorry for what must be an elementary solution, but this really has me stumped.

Can anyone advise?

Thanks,
Bob
  • #170
  • May 2, 2009 8:24am May 2, 2009 8:24am
Quoting Rastaman

Just add this indicator to, MT4/experts/indicators

The set it up to show all the markets you want to see, it will show you which market is open and the current time of that market.
Very useful...many thanks for this nifty tool.
  • #171
  • May 2, 2009 8:50am May 2, 2009 8:50am
Sorry...I missed PIPer's previous posting #68 that answered my inquiry about setting fibs. Thanks and good trading everyone!
  • #172
  • Edited May 3, 2009 2:18am May 2, 2009 9:01pm | Edited May 3, 2009 2:18am
May 4th, 5th & 6th are Japanese national holidays, it appears the market is open but trading will be slower than usual and to make things worse, the UK also has a national holiday on the 5th.

How this will affect this system, is unclear, perhaps the Asian session will not be a good gauge for the London open, or maybe the London session will not open at all.
Starting to see instead of just looking.
  • #173
  • May 3, 2009 4:00am May 3, 2009 4:00am
i dont trade on bank holidays, especially UK, USA any JPY.
  • #174
  • Edited 2:10pm May 3, 2009 10:57am | Edited 2:10pm
Quoting Rastaman
May 4th, 5th & 6th are Japanese national holidays, it appears the market is open but trading will be slower than usual and to make things worse, the UK also has a national holiday on the 5th.

How this will affect this system, is unclear, perhaps the Asian session will not be a good gauge for the London open, or maybe the London session will not open at all.
i have an opposite idea Rastaman ,,, i think those holidays cause making a low range box because of less moving and this is enough to make a good trade
  • #175
  • May 3, 2009 2:54pm May 3, 2009 2:54pm
Interesting system.

For those of you using this system, do you start looking for breakouts:

--When the London Market Opens?
OR
--When the Tokyo Market Closes?

If I'm not mistaken, London opens, then an hour later, Tokyo closes, so there is a 1 hour period when both markets are open. So what exact time do you start looking for the breakout?

If you were to use the Asian Hi/Lo as breakout points, then it would mean you can only start looking for breakouts 1 hour into the London session, but not at the beginning.
  • #176
  • May 3, 2009 4:30pm May 3, 2009 4:30pm
It seems to me that it doesn't matter actually if any imaginary market opens or closes at any exact time. The system discussed here is a nice sample of a volatility breakout system, and it works since there are frequent volatility expansions at interleaving times between sessions. As soon as it's based on volatility, the best potential results are cut to almost nothing by exit rules used. In other words, the narrower the pre-London range, the greater the potential move after a breakout, and vice versa. Look at charts posted here and you'll see — when the "asian" period has too wide a range, usually it leads to a stop eventually and when it's narrow a potential nice profit is cut by the limit order.
The bottom line is — this system can be greatly improved if volatility is taken into account, for example, by means of well-known ATR or similar.
  • #177
  • May 3, 2009 5:49pm May 3, 2009 5:49pm
Quoting johnthom
1) Get a coin.
2) Flip the coin.
3) Heads go long.
4) Tails go short.
5) Don't bother with a stop loss.
6) Let trade run until hell freezes over.
Palus gave the results of his system,WHY DONT YOU DO THE SAME,with your IMPROVMENTS.......so we all can shine our favourite coins in readiness of your results ....
Easy to talk,BUT HARD TO FOLLOW UP with action.......


baz
  • #178
  • Edited May 4, 2009 1:59am May 3, 2009 6:04pm | Edited May 4, 2009 1:59am
guys, i have got a problem!
about tokyo time, again!
everything you need is inside the picture.
-italian time right now (1:01 as showed in windows and in FF)
-time in tokyo showed in mt4 indicator (it shows tokyo open right now)
-open of asia session in about 1 hour, showed in FF web page


so, what must i do? wich one is the right one?

Rastaman, help me!

EDIT: i forgot the picture, sorry
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  • #179
  • May 3, 2009 8:10pm May 3, 2009 8:10pm
Tokyo Stock Exchange is open over the following hours.

TSE http://www.tse.or.jp/english/index.html

What I don't get are the national holidays that they are according to this, NOT open. Like today, but they seem to be open.
The plot thickens, as they say.
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Starting to see instead of just looking.
  • #180
  • May 3, 2009 8:25pm May 3, 2009 8:25pm
Quoting tj_fxtrader
Interesting system.

For those of you using this system, do you start looking for breakouts:

--When the London Market Opens?
OR
--When the Tokyo Market Closes?

If I'm not mistaken, London opens, then an hour later, Tokyo closes, so there is a 1 hour period when both markets are open. So what exact time do you start looking for the breakout?

If you were to use the Asian Hi/Lo as breakout points, then it would mean you can only start looking for breakouts 1 hour into the London session, but not at the beginning.
The best moves seem to be within 3 hours of the London open, depending on which pair you look at.
Starting to see instead of just looking.
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