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  • #2,781
  • Jul 16, 2010 5:14am Jul 16, 2010 5:14am
wow i wish i had known this thread anyway my question is
i use gmt+3.pliz tell me what time is london open on this broker and wat time is frunfurt open and newyork
  • #2,782
  • Jul 16, 2010 5:18am Jul 16, 2010 5:18am
Quoting fxrambo
wow i wish i had known this thread anyway my question is
i use gmt+3.pliz tell me what time is london open on this broker and wat time is frunfurt open and newyork
London opened 3hrs 18min ago , Franc 1 hr before,

Work it out
  • #2,783
  • Jul 16, 2010 5:22am Jul 16, 2010 5:22am
Quoting DanUK
Hi guys,

I am pretty new to this trading method but it seems to warrant some serious attention.

I do have a couple of questions if I may...

1. What % do you initially risk? I normally put 2% on the table... which I did this morning and now my account is up almost 80%!!!!!! Is 2% too risky for this type of trading?

2. Does anyone move their stop to bag a couple of pips? Say for example, our current trade is up almost 80 pips... so I figure if it reverses from here all the way back to entry I may as well put a couple in the bank ready...
Hi DanUK,

I have been using a version of this method for some time now, the more you watch a 1min (together with a 5sec) chart you begin to get a better feel for the method.

Watch throughout the day as to how price reacts to the 3 main opens of the day.

I personally use between 0.6% to 1% of my account total, I use slightly larger stops than Tony. I am rarely stopped out for a complete loss.

I try to always gain from a trade that moves into profit, if for example I were to use a 9 pip stop I would look to eventually move my stop to lock in at least 9pips profit, therefore ensuring my next trade would be paid for.

Take care,

BabeFX
  • #2,784
  • Jul 16, 2010 5:24am Jul 16, 2010 5:24am
Quoting FOURX
London opened 3hrs 18min ago , Franc 1 hr before,

Work it out
and newyork?
  • #2,785
  • Jul 16, 2010 5:29am Jul 16, 2010 5:29am
Quoting fxrambo
and newyork?
Wait 1.5 hours for NY open.
  • #2,786
  • Jul 16, 2010 5:34am Jul 16, 2010 5:34am
Quoting Dael
Wait 1.5 hours for NY open.
i need precise time sir how long time does we have ny open after london wat is the interval sir?
  • #2,787
  • Jul 16, 2010 5:39am Jul 16, 2010 5:39am
Quoting FOURX
Dan

See if you can help on this

With such a tight stop entered on Oanda platform could they not manipulate a little blip to hunt it, or am i off the mark?

Thanks
I don't know to be honest. I've never really subscribed to the theory that brokers manipulate prices but I certainly could be wrong. I know people do hunt stops but I am not very well versed in it so I couldn't really say!

Perhaps someone with more knowledge on the subject could enlighten us both!

For now though, I've not experienced it happening!

Regards,

Dan
  • #2,788
  • Jul 16, 2010 5:41am Jul 16, 2010 5:41am
Quoting fxrambo
i need precise time sir how long time does we have ny open after london wat is the interval sir?
just google for est-time and see yourself. don't take it personal, but if you are not even able to find the time zone, i doubt that you will make it. sorry....
meine augen sind die sterne
  • #2,789
  • Jul 16, 2010 5:43am Jul 16, 2010 5:43am
Quoting BabeFX
Hi DanUK,

I have been using a version of this method for some time now, the more you watch a 1min (together with a 5sec) chart you begin to get a better feel for the method.

Watch throughout the day as to how price reacts to the 3 main opens of the day.

I personally use between 0.6% to 1% of my account total, I use slightly larger stops than Tony. I am rarely stopped out for a complete loss.

I try to always gain from a trade that moves into profit, if for example I were to use a 9 pip...
Dael, Caillou and BabeFX - thanks for your comments.

I have only just started trading this on my intraday account (which I keep separate to my main account) so a bit of testing shouldn't hurt too much! I think I'll go for 1% risk and see how it fares.

I also like what you said BabeFX about paying for my next trade - this is kind of my thinking too. At least that way you are in for a "free" trade regardless of what happens on your next trade.

Thanks!

Dan
  • #2,790
  • Jul 16, 2010 5:45am Jul 16, 2010 5:45am
Quoting fxrambo
i need precise time sir how long time does we have ny open after london wat is the interval sir?
Google "forex hours" there are some nice sites out there that will give you a coloured chart and you can adjust the timezone so you will know exactly when to trade.

Cheers.
  • #2,791
  • Jul 16, 2010 5:46am Jul 16, 2010 5:46am
New York Open: 8h00 (New York Time)
  • #2,792
  • Jul 16, 2010 6:22am Jul 16, 2010 6:22am
NY open in 40 mins... let's hope those boys push price up!!

My target is 1.3039 - but I am a bit concerned about 1.3000 getting in the way. Anyone else have any thoughts about this or is it better to set and forget!?!
  • #2,793
  • Jul 16, 2010 6:25am Jul 16, 2010 6:25am
Anyone knows what´s better. I´m going to move my SL in order to have at least 40 pips and let it run, and in 30 min I´m going to enter again in the market with the first direction.......
  • #2,794
  • Jul 16, 2010 6:26am Jul 16, 2010 6:26am
[quote=aserbfx;3879013]just google for est-time and see yourself. don't take it personal, but if you are not even able to find the time zone, i doubt that you will make it. sorry....[/qu
thats why am here to learn sir if u dont mind just tell me wat timeleft for newyork to open the i will take it from here and plizz the next time u wonna help dont use the language u have just used cos if u uaself u were make it in forex u wont behere in the first place
  • #2,795
  • Jul 16, 2010 6:30am Jul 16, 2010 6:30am
[quote=fxrambo;3879149]
Quoting aserbfx
just google for est-time and see yourself. don't take it personal, but if you are not even able to find the time zone, i doubt that you will make it. sorry....[/qu
thats why am here to learn sir if u dont mind just tell me wat timeleft for newyork to open the i will take it from here and plizz the next time u wonna help dont use the language u have just used cos if u uaself u were make it in forex u wont behere in the first place
New York Open: 8h00 (New York Time), in 30 min....
  • #2,796
  • Jul 16, 2010 6:32am Jul 16, 2010 6:32am
Quoting DanUK
NY open in 40 mins... let's hope those boys push price up!!

My target is 1.3039 - but I am a bit concerned about 1.3000 getting in the way. Anyone else have any thoughts about this or is it better to set and forget!?!
thanx alot
  • #2,797
  • Jul 16, 2010 6:34am Jul 16, 2010 6:34am
Quoting DanUK
NY open in 40 mins... let's hope those boys push price up!!

My target is 1.3039 - but I am a bit concerned about 1.3000 getting in the way. Anyone else have any thoughts about this or is it better to set and forget!?!



Hi DanUK,

This is where it is probably best to let the market show you the way.
Ever mindful of the likely strong possibility of an option barrier being protected,together with a strong psycological level.

I might be mistaken, but I think 1.3000 is a level that the Eurozone believes to represent fair value.

Regards,


BabeFX.
  • #2,798
  • Jul 16, 2010 6:39am Jul 16, 2010 6:39am
Quoting DanUK
Google "forex hours" there are some nice sites out there that will give you a coloured chart and you can adjust the timezone so you will know exactly when to trade.
This one is good
http://www.forexmarkethours.com/
  • #2,799
  • Jul 16, 2010 6:41am Jul 16, 2010 6:41am
What do people do if still in a trade at NY open and NY gives the initial direction in the opposite direction - take profit and reverse?

Also Tony or anyone else do you know what the expected win % is over the long term of getting 140pip profit e.g.5%, 10%? It's virtually impossible to do any visual back testing due to lack of 5 second data on Oanda.

Maybe someone could create a simple EA (purely for back testing purposes) to enable people to look at different TP options that suit their desire for a certain win% and that can also help for risk management too. Move to BE+2 or BE=4 once x pips in profit has to be key to preserve capital as the win rate (of getting to 140 pips) is presumable pretty low.
  • #2,800
  • Jul 16, 2010 6:45am Jul 16, 2010 6:45am
[quote=Caillou;3879160]
Quoting fxrambo
New York Open: 8h00 (New York Time), in 30 min....
thnx alot sir now i get it accurately
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