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Best way to trade London open?

  • #21
  • Mar 20, 2010 9:09am Mar 20, 2010 9:09am
Quoting NightMoves
It can bring in some pretty fast pips I call it the LOB or the "London Open Breakout" I only trade it in the direction of the main trend and I think the best pairs to trade during that time which is at 8:00GMT and the first couple of hour of that session are:

[font=Arial][font=Verdana]The GBP-crosses such as GBPUSD, GBPJPY, GBPAUD, GBPCAD, GBPNZD, and GBPCHF (all of them with over 120 pips/day on average). In second place come the EUR-crosses, especially EURJPY, EURNZD, EURCAD and EURAUD (all of them with over 100 pips/day...
Here is an actual example from the past week on the GU pair.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: LOB method.png Size: 58 KB
  • #22
  • Mar 21, 2010 8:15am Mar 21, 2010 8:15am
Thanks for the info.

Do you use London Forex Open or Rush or just your own analysis - Interesting you trade more than GBPUSD - For me the spread is too big on crosses - I am UK based and use IG Index usually!

W
  • #23
  • Apr 9, 2010 1:51am Apr 9, 2010 1:51am
Quoting Pennypacker
Does anybody focus on just trading the London open? what works for you?
The best time for trading is from 8 to 11, when London is still opened and New York starts to work. There is good activity at this ime.

And so, there are hours when two sessions are overlapped:

New York and London — 8:00 am — 12:00 noon EST
Sydney / Tokyo — 7:00 pm — 2:00 am EST
London / Tokyo — 3:00 am — 4:00am EST

For example, trading EUR/USD, GBP/USD currency pairs would give good results between 8:00 am and 12:00 noon EST when two markets for those currencies are active.
  • #24
  • Aug 7, 2010 12:08pm Aug 7, 2010 12:08pm
Do you screen based on range covered in the Asian session? Ie. it may be the case that the big move for the day has already happened prior to the London open. Also I've noticed (on EU anyway) that you sometimes get a pull back into the range after the London BO, before a second BO within the first few hours of the New York session, which if you anticipate and base your trade decisions also on what PA, etc. is telling you can result in 3 nice momentum trades.

This would of course not take into account medium and long term trend direction, I guess it depends on your style
  • #25
  • Aug 7, 2010 12:24pm Aug 7, 2010 12:24pm
FibbinArchie,

you may find this thread interesting:

http://www.forexfactory.com/showthread.php?t=214628
  • #26
  • Aug 7, 2010 4:43pm Aug 7, 2010 4:43pm
I am finding more & more these days, the price has exploded before the London open, in fact at the european open an hour earlier than London, and when London Opens price reverses.
It never gets easier, you just get better
  • #27
  • Aug 7, 2010 5:03pm Aug 7, 2010 5:03pm
Best way to trade London open?

I love such questions.

A holy grail answer would be:

go with the flow or study the London open every day over years to figure out some "good" pattern.
  • #28
  • Aug 7, 2010 5:56pm Aug 7, 2010 5:56pm
Quoting Shabs19
I am finding more & more these days, the price has exploded before the London open, in fact at the european open an hour earlier than London, and when London Opens price reverses.
I think so too. Back off of the LO and get the FO, but really, you can back off of that for 0:30 to 1:00 and get some good volatility - is that the European open? The Istanbul open? Or if you don't have anything better to do, back off some more and get in on the Dubai/Moscow open. Or a little earlier still maybe & hit the Mumbai open? Mumbai opens about when the Tokyo traders come back from lunch. If they got drunk enough at lunch, Mumbai can be hot.....

Seriously though, I like 30 minutes before FO to just a little past LO. The first few hours of London have seemed kinda slow to me lately. But it could be that I am just asleep then...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #29
  • Aug 8, 2010 1:36am Aug 8, 2010 1:36am
Quoting Shabs19
I am finding more & more these days, the price has exploded before the London open, in fact at the european open an hour earlier than London, and when London Opens price reverses.
I have observe the same thing
  • #30
  • Aug 8, 2010 7:07am Aug 8, 2010 7:07am
You can have a look at London Forex Open & 1 Minute Daily - Reviewed here - http://www.systemsfortraders.com/forex-trading-systems/
  • #31
  • Aug 9, 2010 3:38am Aug 9, 2010 3:38am
Quoting medici
FibbinArchie,

you may find this thread interesting:

http://www.forexfactory.com/showthread.php?t=214628
Thanks Medici, looks interesting, will have a gander...
  • #32
  • Aug 9, 2010 9:32am Aug 9, 2010 9:32am
Quoting UnnamedPlayr
Best way to trade London open?

I love such questions.

A holy grail answer would be:

go with the flow or study the London open every day over years to figure out some "good" pattern.
Not sure, but I think the whole point of this thread is that you get a better flow at certain times of the day.
  • #33
  • Jan 28, 2018 2:07pm Jan 28, 2018 2:07pm
what days do you trade the lONDON OPEN ?
  • #34
  • Jan 28, 2018 4:39pm Jan 28, 2018 4:39pm
Quoting rickrgg
what days do you trade the lONDON OPEN ?
I read an article for some time ago and they say the best days to trade is tuesday, wednesday, thursday. and avoid monday and friday. i have tried this system and it doesn't seem to work all the time, it's a waste of time in my experience.
  • #35
  • Feb 27, 2018 12:37pm Feb 27, 2018 12:37pm
Quoting Pennypacker
Does anybody focus on just trading the London open? what works for you?
No, I don’t have any favorite session! I open my new trades, when I get proper trade setup from my trading system. I don’t care the name of session.
  • #36
  • Last Post: Mar 2, 2018 8:07pm Mar 2, 2018 8:07pm
I only trade once London opens, seems to work for me
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