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USDJPY: Open Hour

  • #41
  • Aug 2, 2010 2:52am Aug 2, 2010 2:52am
Quoting roundrock
pl post the details of your back test. how have you tested ? with EA ?

i only tried UJ. other pairs i dont know
What are the results of your own backtest results Roundrock?
  • #42
  • Aug 2, 2010 2:55am Aug 2, 2010 2:55am
gbpusd, eurusd, usdjpy, audusd, euraud
01:00 to 02:00 GMT+2
minimum TP 20
trail 15
SL opposite side..
opposite orders dont delete until tp or SL

5th closed in profit... so 5/5 today ..lets see tomorrow..i ll post results every day..
  • #43
  • Aug 2, 2010 2:14pm Aug 2, 2010 2:14pm
Roundrock,

It would be nice to have a script for entering of trades.
Are you using one?

Thanks

Cheers
  • #44
  • Aug 2, 2010 2:48pm Aug 2, 2010 2:48pm
...what for? no need..
  • #45
  • Aug 2, 2010 4:08pm Aug 2, 2010 4:08pm
Quoting mistersimple
gbpusd, eurusd, usdjpy, audusd, euraud
01:00 to 02:00 GMT+2
minimum TP 20
trail 15
SL opposite side..
opposite orders dont delete until tp or SL

5th closed in profit... so 5/5 today ..lets see tomorrow..i ll post results every day..
hello mistersimple, who is the broker charts youre use plz?
  • #46
  • Edited 5:02pm Aug 2, 2010 4:11pm | Edited 5:02pm
Quoting roundrock
ho savoybc,

i take only one hour candle that is 23:00 to 23:59 GMT, not 2 hours
hello roundrock, who is the broker charts youre use plz? is it London summer time?
  • #47
  • Aug 2, 2010 4:22pm Aug 2, 2010 4:22pm
i absolutely love IB's

when i'm busy with school, i take IBs with the 3 hour trend, and i also take 50% off at 1:1 but don't move SL to BE. taking the 50% lets you have a breakeven trade while at the same time keeping your stop out of the way. but that's for holding trades for a very long time.

i thought that was simple! i will definitely be trying this one tonight. i really like scalping in the morning and lately have been looking for a way to take a quick trade at night without my girlfriend noticing i'm on forex just to diversify my trading methodology

thanks roundrock for the super duper strategy, i can't wait to see what we can work out with exits
  • #48
  • Aug 2, 2010 5:03pm Aug 2, 2010 5:03pm
hello roundrock is now 23:00 in London so do this begun the hour?
  • #49
  • Aug 2, 2010 5:57pm Aug 2, 2010 5:57pm
24 pip spread and only a few minutes to go

is this too big (larger than the maximum on your first post) or is that just a loose rule
Attached Image
  • #50
  • Aug 2, 2010 6:20pm Aug 2, 2010 6:20pm
Quoting frankkn
24 pip spread and only a few minutes to go

is this too big (larger than the maximum on your first post) or is that just a loose rule
Do you take the high/low of that last candle (24 pip range) or the current one?
  • #51
  • Aug 2, 2010 6:27pm Aug 2, 2010 6:27pm
well according to the first post, the candle that ends at midnight gmt is our candle.

i'm in -5 gmt ( EST) and its 7:25 which makes it 25 past midnight gmt.

so the 1h candle that closed 25 mins ago is our boy.

except if you go to forexfactory.com you can see that the tokyo market doesnt open until 8pm EST

so maybe we should be looking to this current candle.

and in response here is a screenshot of my orders. (very very tiny size because i don't normally trade this)

i just canceled them because the spread is 24 pips and tokyo doesn't open for another half hour
Attached Image
  • #52
  • Aug 2, 2010 6:44pm Aug 2, 2010 6:44pm
I'm in EST time zone too but as it is summer it is EDT which I thought makes it the current candle that we should be looking at and waiting to close?

Quoting frankkn
well according to the first post, the candle that ends at midnight gmt is our candle.

i'm in -5 gmt ( EST) and its 7:25 which makes it 25 past midnight gmt.

so the 1h candle that closed 25 mins ago is our boy.

except if you go to forexfactory.com you can see that the tokyo market doesnt open until 8pm EST

so maybe we should be looking to this current candle.

and in response here is a screenshot of my orders. (very very tiny size because i don't normally trade this)

i just canceled them because the spread is 24 pips and tokyo doesn't open for...
  • #53
  • Edited 7:03pm Aug 2, 2010 6:53pm | Edited 7:03pm
Quoting BJ1
I'm in EST time zone too but as it is summer it is EDT which I thought makes it the current candle that we should be looking at and waiting to close?
yep thats right. closed my orders a while back.

this current 1h candle is an inside bar as well

and price has been consolidating for quite a while we could get an explosive move

edit:

here are the new orders. i'm not used to trading at this time of day it's so slow wow!
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  • #54
  • Aug 2, 2010 7:24pm Aug 2, 2010 7:24pm
Today's candle
Attached Image (click to enlarge)
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  • #55
  • Aug 2, 2010 9:17pm Aug 2, 2010 9:17pm
short is triggered
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  • #56
  • Aug 2, 2010 9:21pm Aug 2, 2010 9:21pm
Quoting driftwood
hello roundrock, who is the broker charts youre use plz? is it London summer time?
its fxcm uk , gmt +1
  • #57
  • Aug 2, 2010 9:53pm Aug 2, 2010 9:53pm
Price touched TP1, but Ask didn't cross... I moved to BE anyways...

Do you have a script to make the pending orders easier to manage?
  • #58
  • Aug 2, 2010 10:06pm Aug 2, 2010 10:06pm
pl do a search, you will get one
  • #59
  • Aug 3, 2010 8:40am Aug 3, 2010 8:40am
hi everybody
thank you for sharing the method.
just 2 questions:
1st. what about the spread in the limits orders and sl?
2nd. did you test the method when change the time during summer winter? did you use the same candel?
thank in advance!
abd
  • #60
  • Aug 3, 2010 3:13pm Aug 3, 2010 3:13pm
Simple!

Looks like its working... Need some forward testing and MM.

abd:
1st question has been answered already:
"when the candle size is less than 10 pips, i consider it as 10 and do the math. that means 12 pips SL, 12 TP1, 24 TP2 (considering 2 pips buffer)"
2cnd: It should always be the 23:00 - 00:00 GMT candle (correct me if I m wrong)


Thanks for sharing
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