DT
Did you see my msg above? have you looked at keeping both trades in and not cancelling the other?
Scattydiva
Did you see my msg above? have you looked at keeping both trades in and not cancelling the other?
Scattydiva
Bird is the word - 1 word trading advice 120 replies
21 sma trading early bird 13 replies
Early Bird Broker? 0 replies
DislikedDT
Did you see my msg above? have you looked at keeping both trades in and not cancelling the other?
ScattydivaIgnored
DislikedDT, I am interested on how you got a 20 pip winner on Monday. On my charts the opening price of the 0630 UK bar was 1.5833 = short @ 1.5813. I pay a 4 pip spread on the GBPUSD so to gain 20 pips price has to move 24 pips, in this case the low was 1.5791 = 22pips and then retraced and took my stop out.
Do you only pay a 2 pip spread or did you have a different opening price.Ignored
DislikedDubaiTrader,
Interesting approach here.
Can I ask why you say the spread doesn't come into play with shorts? If you enter short (on bid) then you are still 3 pips down if you want to exit (on ask), so surely you should either take spread into account, or not?
Have you tried any other SL/TP levels, say for instance, 15 SL, 25 TP?Ignored
DislikedAnother +20 morning. +60 for the week. We got here last week and gave back 40 of those on Thursday, Friday.
Be interesting to see what happens tomorrow. Friday I'll skip anyway due to NFP.Ignored
DislikedI enter exactly as indicated on shorts to minimize the cost of spread. +22 was available therefore, +20 was scalped. I don't know of any broker with a spread of 4 pips for GU. I have several brokers that have between 0.8-2 pips.
I'm still trying variations of SL/TP levels but I do know this type of breakout hasn't worked during 07/08. However, it has been working remarkably well since June 09.Ignored
DislikedI doubt the NFP will have much of an effect on the London open (certainly not for the targets used here anyway).
Good luck with the testing.Ignored
DislikedNo it doesn't but the day as a whole can be erratic and volatile. I'd rather side with caution.
Thanks for posting, glad it's interesting a few people.Ignored
DislikedDon't worry, this thread is definitively interesting. With a quick EA i built, it seems that it is even better to go with a 45 TP and SL (rather than 20). Have you done some testing on the EA you are using?
The EA also quite clearly showed that 06:30 UK time is the exact right time to start, and that 20, although better 19, is the mid offset to use for the placing of the buy and sell targets.
FredellaIgnored
DislikedThat's interesting. Would you be able to make this EA public please? I'd be interested in trying out some other pairs and TP/SL levels.Ignored