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Attachments: 30 minute hi/low strategy
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30 minute hi/low strategy

  • #41
  • Aug 13, 2010 3:23am Aug 13, 2010 3:23am
Quoting rumpfunk
Just to let you know guys my first trade will be from 08:00 as I will wait for euro economy figures to be released.

do you actually place your first trade at 8.00am, or trade from the next candle at 8.30 am ? as 8.00am is london open and is only the first candle of the day.
  • #42
  • Aug 13, 2010 3:27am Aug 13, 2010 3:27am
Quoting whatfx
do you actually place your first trade at 8.00am, or trade from the next candle at 8.30 am ? as 8.00am is london open and is only the first candle of the day.
Today yes as there was important data coming out between 07:00 and 08:00.

Normally first trade would be 07:30.
  • #43
  • Aug 13, 2010 3:31am Aug 13, 2010 3:31am
Sell @ 1.2832

stoppped -10
  • #44
  • Aug 13, 2010 3:41am Aug 13, 2010 3:41am
Quoting rumpfunk
Can you tell me what were you exaxct entries because yesterday morning produced around 40 pips? it was enough to not need to trade the afternoon.
hi

i will provide you with the exact entry points later as iam off to work now. can you explain what a pivot point is ? (sorry for my ignorance).

also, you say normally the first trade should be at 7.30 am (gmt). but london open starts at 8.00 am gmt. so should the first trade not be at 8.30 am ?

where do you get the info on what news is coming out for these fx pairs ? forexfactory only shows news from certain currencies. how do you deduce which news will effect the eur/usd ?


regards
  • #45
  • Aug 13, 2010 3:50am Aug 13, 2010 3:50am
Quoting whatfx
hi

i will provide you with the exact entry points later as iam off to work now. can you explain what a pivot point is ? (sorry for my ignorance).

also, you say normally the first trade should be at 7.30 am (gmt). but london open starts at 8.00 am gmt. so should the first trade not be at 8.30 am ?

where do you get the info on what news is coming out for these fx pairs ? forexfactory only shows news from certain currencies. how do you deduce which news will effect the eur/usd ?


regards
Hi no problem,

the market usually starts to move around 7 so the first trade is based around the initial movement so we can beging to trade then.

The pivot point is useful to plot on your graph as it can be defined as the point where the direction changes through the day, its its calculated by taking the high,low and close of the previous day and divided by3.

Have a search in google for Pivot points, very useful to know where the daily pivots are as they can act as good support and resistance.

The Pivot for today is 1.2847 and you can see the price is volatile around this line so often better to wait for confirmation of direction.

Regards.
  • #46
  • Aug 13, 2010 4:00am Aug 13, 2010 4:00am
Buy @ 1.2866

-10

Again price being pulled back to Pivot point. I will wait for direction before next trade.
  • #47
  • Edited 5:12am Aug 13, 2010 5:00am | Edited 5:12am
sell 1.2829

+12
  • #48
  • Edited 6:59am Aug 13, 2010 5:59am | Edited 6:59am
sell 1.2794

+12
  • #49
  • Aug 13, 2010 7:01am Aug 13, 2010 7:01am
Friday I will only trade the morning session. Total for the day +11.

Total for the week +91.

Regards

Rumpfunk.
  • #50
  • Aug 13, 2010 10:25am Aug 13, 2010 10:25am
hi rump thanks for sharing but pix could make it clearer but too much loses as a fellow said in the first page that ranging market will wipe off the account what do u think?
  • #51
  • Aug 17, 2010 2:35am Aug 17, 2010 2:35am
Quoting rumpfunk
Friday I will only trade the morning session. Total for the day +11.

Total for the week +91.

Regards

Rumpfunk.

hi rumpfunk

are you not doing any more live trading ? what were your results yesterday ?
  • #52
  • Aug 20, 2010 2:03pm Aug 20, 2010 2:03pm
Somewhere in FF there is a thread about trading off inside bars ONLY in the direction of the intermediate trend using an indicator to determine the trend! Maybe if we tried this technique with this 30 min bar system our results would improve.
  • #53
  • Aug 23, 2010 5:21am Aug 23, 2010 5:21am
well, rumpfunk seems to have dissapeared. i gather this system is no longer effective ?
  • #54
  • Dec 18, 2010 11:37am Dec 18, 2010 11:37am
My 30 minute strategy is somewhat different.

I enter at the close of the present bar.
If the close is higher than the close of the previous bar, I am long.
If the close is lower than the close of the previous bar, I am short.

TP is 5 to 10 pips
SL is 15 if I am looking for 5 pips and 20 pips if I am looking for 10 pips.

If I have not been stopped out and the trade goes the other way I must then decide if I will adjust my position or continue in the trade as is.

I use this on the Eur/Usd during the euro session and the first half of the US session. When I use it on the Aud/Usd I never look for more than 5 pips.

I usually don't trade this strategy when price is close to 00 or 50 and announcements.

The strategy has given me a good solid 50 pips/day.
  • #55
  • Mar 7, 2011 6:47am Mar 7, 2011 6:47am
Quoting Russell412
My 30 minute strategy is somewhat different.

I enter at the close of the present bar.
If the close is higher than the close of the previous bar, I am long.
If the close is lower than the close of the previous bar, I am short.

TP is 5 to 10 pips
SL is 15 if I am looking for 5 pips and 20 pips if I am looking for 10 pips.

If I have not been stopped out and the trade goes the other way I must then decide if I will adjust my position or continue in the trade as is.

I use this on the Eur/Usd during the euro session and the first half of the US...
Hi Russell, sounds like a simple yet powerful mechanical method. How long has this been working for you and how consistent has it been?

Thanks

Xfd
  • #56
  • Last Post: Feb 20, 2014 8:23pm Feb 20, 2014 8:23pm
I have not used this for awhile. Due to time restraints and personality I trade off the 4hour and daily charts now. It wasn't what I would call consistent enough. Thanks for asking
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