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Attachments: 7am-9am Big Dog USD Breakout Strategy
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7am-9am Big Dog USD Breakout Strategy

  • #2,881
  • May 11, 2011 8:49am May 11, 2011 8:49am
Forex Trading Hours (EST):

Australia: 5pm - 1 am
Tokyo: 7 pm - 3 am
Singapore/Hong Kong: 9 pm - 5 am
Frankfurt: 2 am - 10 am
London: 3 am - 11 am
We can see that at around 5 am, trading stops in Asia while in Europe, the market is at its busiest time.
On the other side of the Atlantic, trading in the USA kicks off in New York at 8 am while the European market is coming to a close.
  • #2,882
  • May 11, 2011 8:52am May 11, 2011 8:52am
Quoting breffniman
Does the Us Market not open at 9.30 New York time?

Typical the timezones were messing me up. so I should be trading half an hour before the market opens for the breakout?
The market opens up at 8am new york time.. I believe I was in my trade just before 6am... All of this confuses me too.. I just know my true trading day starts at 4am-10am mountain time... I think I was in my trade just before 6am
  • #2,883
  • May 11, 2011 8:53am May 11, 2011 8:53am
Boophaty, during what times, MST, do you place your box? Is this from 5-7am? And then you wait for the first candle after the box closes to place your buy/sell stops? - this would be at 7:15am if you are on a 15M chart?

I, too, am confused with the time zones here - just want to be clear so I am not late in the game...
  • #2,884
  • May 11, 2011 8:53am May 11, 2011 8:53am
Quoting Raindrops
Forex Trading Hours (EST):

Australia: 5pm - 1 am
Tokyo: 7 pm - 3 am
Singapore/Hong Kong: 9 pm - 5 am
Frankfurt: 2 am - 10 am
London: 3 am - 11 am
We can see that at around 5 am, trading stops in Asia while in Europe, the market is at its busiest time.
On the other side of the Atlantic, trading in the USA kicks off in New York at 8 am while the European market is coming to a close.

Thank you raindrops much appreciated!!!
  • #2,885
  • May 11, 2011 8:55am May 11, 2011 8:55am
Quoting Raindrops
Boophaty, during what times, MST, do you place your box? Is this from 5-7am? And then you wait for the first candle after the box closes to place your buy/sell stops? - this would be at 7:15am if you are on a 15M chart?

I, too, am confused with the time zones here - just want to be clear so I am not late in the game...

Yes that would be correct if I was in my trade just before or after 6 that would be 7am for you.
  • #2,886
  • May 11, 2011 9:00am May 11, 2011 9:00am
this is the breakout box I use... I use default setting which are 6-8 if that helps
Attached File(s)
File Type: mq4 BreakOut_BOX_indicator.mq4   6 KB | 820 downloads
  • #2,887
  • May 11, 2011 9:01am May 11, 2011 9:01am
Ok, so just to be clear...

My box will be set up from 5am-7amCST (6-8amEST), so that this catches the NY Market when it opens at 8am EST, this is correct...?

So, my trade will be placed around 7am?

Thanks!
  • #2,888
  • May 11, 2011 9:03am May 11, 2011 9:03am
Quoting Raindrops
Ok, so just to be clear...

My box will be set up from 5am-7amCST (6-8amEST), so that this catches the NY Market when it opens at 8am EST, this is correct...?

So, my trade will be placed around 7am?

Thanks!
Yes that's correct..
  • #2,889
  • May 11, 2011 9:07am May 11, 2011 9:07am
And, what time do you place it for the London open? (considering you trade earlier...?)

PS... I saw your posting about a minute or two after you placed the trade this morning. I jumped in on the GBPUSD for a sell around 7:15am and am up 26 pips with a TS of 15...

I'd like to get really good at this...
  • #2,890
  • May 11, 2011 9:07am May 11, 2011 9:07am
Did anybody catch the breakout today?? You could have stayed in longer for a lot more pips... but I'm happy with what I got...
  • #2,891
  • May 11, 2011 9:08am May 11, 2011 9:08am
Quoting boophaty
Yes that's correct..
I am here watching CNBC and the opening bell is at 2.30 Irish Time. Does the forex market open earlier?
  • #2,892
  • May 11, 2011 9:09am May 11, 2011 9:09am
Quoting boophaty
Did anybody catch the breakout today?? You could have stayed in longer for a lot more pips... but I'm happy with what I got...
No the times messed me up. I will be ready for it in the morning:-) Ideally you want to be placing your trade before the market opens.
  • #2,893
  • May 11, 2011 9:13am May 11, 2011 9:13am
Quoting Raindrops
And, what time do you place it for the London open? (considering you trade earlier...?)

PS... I saw your posting about a minute or two after you placed the trade this morning. I jumped in on the GBPUSD for a sell around 7:15am and am up 26 pips with a TS of 15...

I'd like to get really good at this...
On the London I believe opens at 2am mnt. time... ooo gawd all of this confuses me... I start trading around 4am mnt time
  • #2,894
  • May 11, 2011 9:17am May 11, 2011 9:17am
I know that being in the CST zone, I am 6 hours behind London. I believe you are 7 hours behind London in MST zone.

London opens at 3am EST
2am CST
1am MST


So, do you place your box for the London open from 11pm - 1am MST?
  • #2,895
  • May 11, 2011 9:18am May 11, 2011 9:18am
Quoting Raindrops
And, what time do you place it for the London open? (considering you trade earlier...?)

PS... I saw your posting about a minute or two after you placed the trade this morning. I jumped in on the GBPUSD for a sell around 7:15am and am up 26 pips with a TS of 15...

I'd like to get really good at this...
Very good job!! I really believe this is a good strategy.. There is a lot of money to be made trading breakouts... I wouldn't trade anything else.. I'm happy with the results... I believe with practice you will be good at it.. Just don't give up!!!
  • #2,896
  • May 11, 2011 9:21am May 11, 2011 9:21am
Quoting breffniman
I am here watching CNBC and the opening bell is at 2.30 Irish Time. Does the forex market open earlier?

that is for the stock market it opens at 930am eastern time.. forex opens at 8am eastern time.
  • #2,897
  • May 11, 2011 9:22am May 11, 2011 9:22am
Just got TS'd out for a total of 17 pips. Very happy!
I will join you tomorrow morning for more trading - thanks so much Boophaty!

Raindrops
  • #2,898
  • May 11, 2011 9:25am May 11, 2011 9:25am
Quoting Raindrops
I know that being in the CST zone, I am 6 hours behind London. I believe you are 7 hours behind London in MST zone.

London opens at 3am EST
2am CST
1am MST


So, do you place your box for the London open from 11pm - 1am MST?
Then that would be correct... so you would be in trade by 2am.. I would be in trade by 1am... Just show me the pips lol...
  • #2,899
  • May 11, 2011 9:27am May 11, 2011 9:27am
Quoting Raindrops
Just got TS'd out for a total of 17 pips. Very happy!
I will join you tomorrow morning for more trading - thanks so much Boophaty!

Raindrops

Not a problem at all... I am glad you joined in! very much appreciated
  • #2,900
  • May 11, 2011 9:34am May 11, 2011 9:34am
Quoting boophaty
Not a problem at all... I am glad you joined in! very much appreciated
Today has been an education. I now realise the market opening hours. Onwards and Upwards. So we can choose to have the box an hour before and an hour after the open or 2 hours before and just on the open. Is this correct?
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