1 trade a day

Did anyone get the very LONG spike to the down side (over 250Pips) or is it me seeing my own things? See chart below, area in Blue

thanks for sharing . do you think its a fact of market or just what you know of market x
thx

Me, I have taken my 100 pips for the day and I am out for the day.

this system is real good

I only do GU and EU now with good lot size and its paying off quite well

Daily target 100pips

I will be here for so long mates

bless you Paulus

kos

This is the type of occurrence that makes me highly skeptical of most FX Brokers... without a centralized exchange, volume data and regulatory oversight, it's conceivable that price manipulation (spikes) occur all too frequently...

I used to get this with CMC very often....now closed account with them long back....Always have another data feed...you should call them if they have closed your position...

hello all,

i have traded this system for a week now (demo) and it looks very good; simple... when a trade got triggered i canceled the other order for the pair.

i only traded the majors.... the pound crosses have sl and tp far away.

do you guys cancel the opposite trade when one is triggered and do you believe this works only with GBP pairs???

kind greets

Sorry for the delay Bobcat. I was interested to test both. I think the Close All at + .618 and a SL at 0% is a nice conservative play. I believe Paulus is using it. I will continue to experiment by trading that method, and trying to better understand what the tightest SL can be.

You probably noticed that on Monday the GBPUSD broke out south to a pip shy of -.5%, then reversed to jump up and hit the 76.8% SL . Nasty!!

I thought, 'So much for my theory'. Then looked closer. I think the Asian session hi-lo works for a breakout most of the time because it encloses a fractal hi-lo pivot, plus has a big boost in volume. The break of the session hi-lo may provide a profit even though it's actually a late entry.

The 23.6/76.8% retracement levels should be safe for a SL level after a breakout, but ONLY if the fibo retracement is measured from fractal pivot highs-lows. In using the Asian session high and low, SOMETIMES, this happens by chance. But sometimes the fibo high or low actually occurs before the Asian session began. Then just depending on the session range is inaccurate for using the fibo levels to measure dependable TP or Sl levels.

I will monitor the fractal pivot highs and lows during the Asian session to see if they provide improved entrance levels and more accurate points from which to compute accurate Fibo TP and SL levels.

To see the fractal pivots, drop the 'Fractal' MT4 indicator (in the regular indicator folder) on your chart and watch the Asian session. The little carrot shapes mark the fractal pivot highs and lows. These bars create breakout levels all day long. Watch them at the end of the Asian session for early breakout buys and sells.

What's the benefit? On the last hour bar of the Asian session, price may breakout above or below a fractal-pivot high or lo, BEFORE the bar and the session ends. You can safely enter an emerging breakout at a better price than if you wait till the last session bar closes. Using this on Tuesday's GBPUSD gave me an entrance Buy 26 pips lower, than the breakout at the high of the session.

Check it out. Now l don't have time to post an illustration chart. Will later.
I plan to keep trading the standard method, but will compare the results of this variant to it.

I'll be interested in others results.

Hi Leo

I am very interested in a chart example of this early fractal breakout when you have time.

Thamks

EURGBP has TP that is +33 pips

GBPUSD 1.618 TP that is +69 pips

EURUSD cancelled because daily target met already


TOTAL = +102 pips

For the week every thing pippy shower


Out for the day. this is just 10:30am GMT+1

kos

Hi koso,
could u please post ur chart?want to check ur high and low for this strategy and to know how u implement your sl and tp values.what should the settings for the antGUbreakout indicator settings if i use IBfx MT4??if i'm not mistaken,IBfx's broker time is the same with GMT.
thanks

Brilliant Kos

Missed those. Had a power failure this morning. But tomorrow is another day.

Still trying to figure out Leo's fractals. Hope he post a chart soon.

May the pips keep following you.

hello onceaday traders,

i have a short UJ trade still open with 25 pips profit, i have put sl at breakeven and wait and see if Tp will be hit.....

do you exit the trade at london closing??? UJ trend looks down so it seems a waist to close the trade.

please let me know if this and my previous questions are already anwsered i guess i have to read it all then.

yes iam pretty lazy.... i guess a method like this atracts people like me.

i hope all are doing very well

I have a few things that I need clearing up:

1) I am based in London. Am I placing the orders based on the hi/lo range that ends at 8:00 London time (currently GMT + 1) or 9:00 London time (currently GMT +2)? I believe the London Session opens at the former time and the Asian Session closes at the latter time. The one hour overlap has confused me.

2) I generally have been going for:

entry - "hi" plus 10bp plus spread (Long trade)
- "lo" less 10bp less spread (short)

SL - 0.00% of range (i.e. "lo") less 10bp (long trade)
- 100.0% of range (i.e. "hi") plus 10bp plus spread (short trade)

Target - "hi" plus 61.8% of range (i.e. 161.8%) (long trade)
"lo" less 61.8% of range (i.e. -61.8%) (short trade).

Is the current wisdom that SL's should be at 61.8% away from entry? Sounds like it (to keep the risk reward closer to 1.0) but I'm not sure.

I've been losing a bit of faith in my understanding of this as my results the past 10 days have been poor...answers to the above would be greatly appreciated to restore confidence.

Paulus, Kos & others...many thanks in advance guys.

hi traders,
i need some help, cause the timedifferents is confusing me.
i am located GMT +1 so here its 9.23am this means in londontime is 8.23am. the asia session is finished at 10.00am (GMT+1). do i have to wait till asia is closed for hi/lo, or do i take the candle with london open (9am)?
thanks for the help, and sorry for my poor english....

Just to clarify a few things.

The last bar in the box must be 7 GMT.( For today that would have been the bar with a high of 1.6467 on GU).

Trust me the 6 GMT will burn you.

Do not try to enter late if it rockets of like today.

Only aim for the 161.8 level.

The GU is the most profitable.

This is mega pips and stress free if you stick to the rules.

The pips will follow you.

Paulus..thanks for this thread. Hello Matlobein and others, what time does the asian session start? Is it 2200hrs GMT?

Many thanks
Iyke

23:00 GMT

Can anybody pls check my attachments and tell me if i am right with my adjustments?
thx a lot!

what does GU stand for? sorry once again for my noobquestion.

Hy guys !

I am folowing this system for a while and as I sow in Paulus posts he is falowing the bars from 23:00 till 06:00 (GMT). That means that we take in consideration 8 bars from the opening (23:00) till the close of the Asia Session (07:00).

We should clear this things out couse thouse setings are verry important for this system.

So Paulus if you are arround please help us with some details.

Thx !