EUR/JPY Pairs- straddle Tokyo Open

yesterday, market went sideways, but a 25 pip TS normally protects you, but, if you look at charts over time, this pair trends well & has a lot of high % winners, just let your winners outnumber losers.

Bazza thanks for sharing this system. Can you post todays chart?
Thanks

hello Bazza:
do you buy or sell just at the high or low of the bar,or do you add spread and buffer?thanks

hi-132.91
lo-132.59
range-32

FXCM

Lets get +100 again.

Happy piping

I backed test this method using a hundred pip take profit with a 25 pip trailing stop . I did this for the last 20 trading days. It ended up slightly more than a +100 pips in total profit after paying spread and a 4 pip buffer on both sides. It was profitable but not very. 11 wins and 9 losses. Paris

In a sale now at breakeven. Im riding to see

Nice! May i know where do you get that chart? would love to have that.

Strange.... no thumbnail images in my post.... can anyone help me?

now,last candle's top is 132.62 and bottom is 132.36

so buy stop @ 132.73 and sell stop @ 132.30

ok...

at gmt 0:02 my buy stop was opended....

lets wait for the big fish come...

good luck for every traders

and TP1=buystop-sell stop tp2=2xtp1 etc....

Add spread & buffer of about 7 pips.

You can also straddle candle 22gmt ( immediatly prior Tokyo open) or candle gmt 23 ( Tokyo open & 1 hr prior Singapore open)

YESTERDAY WAS A LOST. DID NOT TAKE ANY PROFIT ON THE SELL. LETS SEE TODAY.

Fxcm

hi-132.63
lo-132.41
range-22

What a small range.

I use a 13 pip buffer wich include spread.

Lost buy with a 25 pip sl.

In a sell with a 25 pip stop loss.

Lets see how we do.

I am also doing gbp/jpy.

hi-154.16
lo-153.76
range40 with a buffer of 13 wich includes spread

40 pip stop loss.

Its in a sell. Up 35 as i type. This is a beast.lets see how this one does.

Happy pipping everyone

With a slight change to the rules, and some creative money management, I think I may have something that looks promising. Since this is certainly taking a liberty with the original rules, if bazza feels this isn't in line with how he set this system out, I will happily refrain from discussing it any further.

What I have done is:

 

1. Changed the breakout candle from 23:00 to the 23:00 and 00:00 (GMT) candles - (the higher of the two is the "top" of the breakout, and the lower of the two is the "bottom").
   1. If the breakout has not occurred by the close of the 02:00 (H1) candle, there is NO TRADE for that day.

2. If the trade is triggered, set the initial stop loss at 100 pips, and calculate lot size so that this is equal to 2% of the account balance (max 2% loss if SL is hit).
3. Once the trade has entered, close half (0.5% profit) when I reach +50 pips, and set a 100-pip trailing stop. In effect, this makes break-even the absolute worst that can happen - if the trade reverses at exactly +50 and goes back to stop out at -50, the net result is 0.
4. When the trade reaches +100 pips, tighten the trailing stop to either 50-pips, or the high/low of the previous H1 candle (low if you're in long, high if you're in short) - whichever is more favorable to your position (largest gain if SL is hit). In the worst case, again, this will result in a minimum guarantee of 1% profit should the trade immediately reverse at +100 and take out the SL which is now at +50 (or better).

I tend to be very conservative with money management in my live accounts, so this comes from some of that philosophy. I shoot for consistent 5% gains per month. I see that to be realistic with this combination of system and MM, while of course taking in to account that losses will happen.

I've taken this back as far as the beginning of May on the IBFX H1 charts, and overall it seems to be profitable. Since forward testing is really the best way to test in my mind, I will demo this beginning next week. Will post my results here if interested (and if bazza is OK with that).

Today, for example, was just slightly better than break-even, even with that huge turn-around beginning with the 12:00GMT candle. I've attached a screenshot below...

I've drawn two horizontal lines (black dotted) at the breakout points (which, in today's case, was just the 00:00GMT candle). Arrows show the entry, close for half at +50, and then the retrace back up to close the second half at -36. Net result was a gain of just under 0.15%, but that's better than taking the loss....

Here's yesterday -

Entered at 132.515 (the low of the 23:00 candle, since it was lower than the 00:00 candle). Took out the +50 at 132.015 and closed half. 100-pip trail kicked in, got down to 131.615 and after reversing, eventually stopped out at 132.615 (-10). Net result was +40, or a gain of 0.4% for the day.

thankx for this sytem and i want to share it with u and i have some idea
can u make it from 17 untel 19 new york time sound better for me
what do u think

Thats why I started this thread, for idea's, will give it a shot myself, 5% a month is nothing to sneeze at,
Bazza

Using the parameters I defined above...

Got an entry today at 01:09GMT at the break of the high of the 00:00 candle.

Trade hit +50 pips at 06:03GMT so half was closed for a gain of 0.5%. 100-pip trailing stop kicked in. At 15:00GMT, the remaining half of the trade was closed for +57 pips.

Net result for the day: 1.07% gain on account.

Quite an interesting day today...

Entry short at 01:00GMT with the break of the low of the 00:00GMT candle. Big reversal before +50 could be reached, and price went all the way up to come within 1-pip of hitting the 100-pip SL and closing. Then, another reversal, and price came all the way back down, to close at 15:00GMT with +23 pips.

Net result for the day: +0.48% gain on account.
+1.56% for the week so far.

No trade for me today, since no breakout of the 23:00 and 00:00 GMT bars had occurred before the close of the 02:00GMT candle.

Still at +1.56% for the week.

Sadly, I missed this one today - was a really good trade:

Entered long at 01:07GMT with the break of the high of the 00:00GMT candle.
Took out +50 in just over an hour. 100-pip trail kicked in, but it never got close to coming that far back. A few hours later, took out the +100, and the stop was moved to the close of the previous candle (previous to the one that took out the +100 target). Reversal at the next candle took out the stop at +71 pips from the open.

Would have been a gain of around 0.75% for the day, which would have put us over 2% gain for the week.

Oh well, there's always tomorrow...

Today, we had the first loser of the week.

Entry triggered at 01:03GMT with the break of the low of the 00:00GMT candle. Reversed just a little while later, and took out the 100-pip stop loss for a 2% loss.

Down 0.56% for the week.

It appears that interest in this thread has died. I still believe there is potential for this system, so thanks to bazza for showing it to us. I am going to continue to trade this in a demo for a while to see what the longer term potential will be. However, based on the lack of discussion/interest, I won't post any more. The strategy really is simple enough that anyone who is interested in moving forward on their own should be able to do so with the very clear "rules" that have been posted.