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EUR/JPY Pairs- straddle Tokyo Open

  • #21
  • Jul 13, 2009 11:54am Jul 13, 2009 11:54am
Quoting panguFX
check out http://www.forexfactory.com/
click on tokyo on the left...
it tells u the market opening time,
I believe it is 7 pm in the fall, and it is 8pm right now...
please correct me if i'm wrong.
It does indeed say that. However, if it truly does open at 8:00 PM Est, then that is 9:00 AM Tokyo time.

Right now it is 12:54 EST and the time in Japan is:

1:54am Tuesday (JST) - Time in Tokyo, Japan

That's 13 hours ahead.
  • #22
  • Jul 13, 2009 12:02pm Jul 13, 2009 12:02pm
Quoting Dreamliner
It does indeed say that. However, if it truly does open at 8:00 PM Est, then that is 9:00 AM Tokyo time.

Right now it is 12:54 EST and the time in Japan is:

1:54am Tuesday (JST) - Time in Tokyo, Japan

That's 13 hours ahead.

Wow that's confusing,

maybe the tokyo market does open at 9am JST?

I've been trading the tokyo open for a while, and there is
a clear change in trading volume every night at 8PM EST, which I
thought was tokyo opening.
  • #23
  • Jul 13, 2009 12:07pm Jul 13, 2009 12:07pm
Wow, it doesn't seem that anybody can agree on this. I asked several places just now and got these answers:

"The Tokyo Stock Exchange Opens at 9:00 AM"

"The Tokyo market opens at 8:00 AM."

Who is one to believe .
  • #24
  • Jul 13, 2009 12:39pm Jul 13, 2009 12:39pm
Quoting panguFX
check out http://www.forexfactory.com/
click on tokyo on the left...
it tells u the market opening time,
I believe it is 7 pm in the fall, and it is 8pm right now...
please correct me if i'm wrong.
The time shown when you click on "Tokyo" on the FF calender page you're talking about is YOUR time.
When you register you told it what time zone you are in.

I'm in Central Time Zone.

It says that Tokyo opens at 7PM.
That equates to 8PM Eastern Time.

Tokyo opens at 0000 GMT. That is 9AM Tokyo time. Tokyo does not have Daylight Savings Time. It stays 000GMT the year around.
All the other markets open at 8AM their local time.
Tokyo is different. It opens at 9AM.
  • #25
  • Jul 13, 2009 12:53pm Jul 13, 2009 12:53pm
OK so the one who began this thread was wrong; the correct opening time is 0000 which is 8 PM EST, or 9AM Japan time.

Thanks Bill.

Quoting billbss
The time shown when you click on "Tokyo" on the FF calender page you're talking about is YOUR time.
When you register you told it what time zone you are in.

I'm in Central Time Zone.

It says that Tokyo opens at 7PM.
That equates to 8PM Eastern Time.

Tokyo opens at 0000 GMT. That is 9AM Tokyo time. Tokyo does not have Daylight Savings Time. It stays 000GMT the year around.
All the other markets open at 8AM their local time.
Tokyo is different. It opens at 9AM.
  • #26
  • Jul 13, 2009 1:02pm Jul 13, 2009 1:02pm
Quoting Dreamliner
OK so the one who began this thread was wrong; the correct opening time is 0000 which is 8 PM EST, or 9AM Japan time.

Thanks Bill.
I don't know what he intended.
He said the 2300 candle and claimed it was 0700 Tokyo Time- which it isn't.

Does he want 2300 GMT or does he want 07:00AM Tokyo Time?

I suspect we'll never find out.
  • #27
  • Jul 13, 2009 1:06pm Jul 13, 2009 1:06pm
billbss is correct, as usual, when it relates to time issues.
Attached Image (click to enlarge)
Click to Enlarge Name: fx_timezone.GIF Size: 47 KB
  • #28
  • Jul 13, 2009 1:32pm Jul 13, 2009 1:32pm
Rather than confuse yourselves with the actual time in his fist post he said to take the 2300 gmt candle and straddle that candle pretty explanitory last nights high 128.20 and low 127.99 by just doing 1 to 1 RR looking to getthe difference from each including spread would have been a winner
Attached Image (click to enlarge)
Click to Enlarge Name: 1.GIF Size: 35 KB
  • #29
  • Jul 13, 2009 2:22pm Jul 13, 2009 2:22pm
Allow me to save you a 1000 hours.This sytem works on the close of the
22:00 ,23:00 and sometimes midnight GMT 1 hr bar depending on trigger.
You will find that at a 2:1 reward to risk it is a 50/50 system.But throw on a good indicator (last night you should have seen overbought set up)
thus picking a direction and and your odds will go to about 65 %.
Go to a 3 lot system first one breaking you even and you get to live.
Hope some get it , happy pips.
  • #30
  • Jul 13, 2009 5:42pm Jul 13, 2009 5:42pm
after a closer look it does seem that the close of the 22 gmt candle is better to do the straddle
  • #31
  • Jul 13, 2009 8:48pm Jul 13, 2009 8:48pm
Straddle the 2200-2300 gmt candle, which is immediately prior Tokyo open. I use a 25pip trailing stop with a target of 100, sorry to see dreamliner up 85, then breakeven, just gotta experiment a little,
Bazza
  • #32
  • Jul 13, 2009 9:19pm Jul 13, 2009 9:19pm
Quoting bazza
Straddle the 2200-2300 gmt candle, which is immediately prior Tokyo open. I use a 25pip trailing stop with a target of 100, sorry to see dreamliner up 85, then breakeven, just gotta experiment a little,
Bazza
The 2200-2300 GMT candle ends one hour before the Tokyo open.
  • #33
  • Jul 13, 2009 9:25pm Jul 13, 2009 9:25pm
Quoting giusepp8
Here we go !!!!!! ........ another 20,000 posts thread only to decide which time !



(no offense implied)
Looks like you were right
  • #34
  • Jul 13, 2009 9:59pm Jul 13, 2009 9:59pm
Hopefully this will put an end to this time confusion once and for all.

Pretty much self explanatory.
Attached Image
  • #35
  • Jul 14, 2009 7:49am Jul 14, 2009 7:49am
Quoting bazza
Straddle the 2200-2300 gmt candle, which is immediately prior Tokyo open. I use a 25pip trailing stop with a target of 100, sorry to see dreamliner up 85, then breakeven, just gotta experiment a little,
Bazza
Ok guys in bazzas defense he did say prior to tokyos open. So it looks like maybe his breakout system works when tokyo opens and not after.
This looks like it has some potential, i would hate to see this thread disappear because of a misunderstanding.

Thanks for sharing this with us bazza, but if you could maybe post a chart with your high and low for the time period that you are using we might be able to clear up the confussion.
Nick
  • #36
  • Jul 14, 2009 5:20pm Jul 14, 2009 5:20pm
Quoting 555ngone
Ok guys in bazzas defense he did say prior to tokyos open. So it looks like maybe his breakout system works when tokyo opens and not after.
This looks like it has some potential, i would hate to see this thread disappear because of a misunderstanding.

Thanks for sharing this with us bazza, but if you could maybe post a chart with your high and low for the time period that you are using we might be able to clear up the confussion.
As requested, a chart is attached, the candle immediatly prior Tokyo FOREX market opens, not Tokyo stock exchange.
Attached Image (click to enlarge)
Click to Enlarge Name: tokyo candle for explanation.gif Size: 26 KB
  • #37
  • Jul 14, 2009 5:28pm Jul 14, 2009 5:28pm
Quoting bazza
As requested, a chart is attached, the candle immediatly prior Tokyo FOREX market opens, not Tokyo stock exchange.
Thanks Bazza. Next time, you can avoid at least two pages of posts if you will just say "the candle that begins at 2200 GMT, and ends at 2300 GMT which is 6:00 PM to 7:00 PM EST".

If you will be clear like this you will find people eager to help. As it is, you confused everybody by not being clear.
  • #38
  • Jul 14, 2009 5:55pm Jul 14, 2009 5:55pm
Quoting Dreamliner
Thanks Bazza. Next time, you can avoid at least two pages of posts if you will just say "the candle that begins at 2200 GMT, and ends at 2300 GMT which is 6:00 PM to 7:00 PM EST".

If you will be clear like this you will find people eager to help. As it is, you confused everybody by not being clear.
look at 22:00gmt candle,only the H/L with this candle,long or short by this candle also...


now last 22:00gmt candle was closed ,and it's H=130.82 L=130.44 ,hope its can help..
  • #39
  • Edited Jul 15, 2009 6:23pm Jul 14, 2009 6:57pm | Edited Jul 15, 2009 6:23pm
I cant see this going 100 pips with the 1 hour candle stop loss. Unless i have missed something here. NO I AM NOT TALKING ABOUT THE TIMES.

YesterdayI had 2 loses. What did you all get.

Today my high is 130.83 - Low is 130.45.

A 38 range.

With the 38 range and buffer and pip spread + 100 buy
  • #40
  • Jul 14, 2009 7:20pm Jul 14, 2009 7:20pm
Quoting smurf
I cant see this going 100 pips with the 1 hour candle stop loss. Unless i have missed something here. NO I AM NOT TALKING ABOUT THE TIMES.

YesterdayI had 2 loses. What did you all get.

Today my high is 130.83 - Low is 130.45.

A 38 range.

oh,friend
please small tp and small sl,maybe u can get more
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