Markets open/close | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Seeking Help for Open & Close Trades On New Bar Open 6 replies

Close all open trades if current total open lotsize exceeds"X" 0 replies

script to "close open orders" and "open opposite orders" 3 replies

Seeking Correct Open/Close - It's Close but ... 0 replies

program: open a position when (close-open)==** 3 replies

Attachments: Markets open/close
Exit Attachments

Markets open/close

  • #1
  • First Post: May 18, 2011 12:55am May 18, 2011 12:55am
When the markets open and close there is increased activity.
This strategy catches that burst of momentum on the 1m.

At market openings and at market closings

Enter after the 2nd 1m candle closes in the direction of the 2nd candle.

Check macd. At least 2 macd should confirm direction of the trade,
preferably all 3.

Open 2 positions.
position 1. 10 pip tgt 10 pip stop
position 2. 20 pip tgt 10 pip stop

When position 1 reaches tgt
move stop for position 2 to just above breakeven
Attached Image (click to enlarge)
Click to Enlarge Name: open.gif Size: 60 KB
Attached File(s)
File Type: mq4 Candle Time & Spread.mq4   3 KB | 346 downloads
File Type: ex4 Market_Open_Lines c.ex4   7 KB | 371 downloads
File Type: mq4 ZeroLag MACDline.mq4   3 KB | 330 downloads
File Type: tpl open.tpl   56 KB | 329 downloads
  • #2
  • Edited 3:17am May 18, 2011 1:08am | Edited 3:17am
This is new to me. Am just starting to trade it.
Looks promising..
good r/r

This trade was placed at Tokyo close...
In progress...
Attached Image (click to enlarge)
Click to Enlarge Name: open2.gif Size: 59 KB
  • #3
  • May 18, 2011 1:24am May 18, 2011 1:24am
one position got stopped out.
almost reached the tgt...
waiting on the other one.
If it reaches tgt then breakeven.
if it stops out then -20 pips
Attached Image (click to enlarge)
Click to Enlarge Name: open3.gif Size: 57 KB
  • #4
  • May 18, 2011 1:36am May 18, 2011 1:36am
Quoting jiva34
This is new to me. Am jsut starting to trade it.
Looks promising..
good r/r

This trade was placed at Tokyo close...
In progress...

jiva,

according to this site information, Tokyo will close in 25min time, so your trade would not be correct on this, IMO.

Knez.

P.S. it is very big question what to take as a opening time of each market, as we always have pre-market action.
  • #5
  • Edited 3:05am May 18, 2011 1:42am | Edited 3:05am
2nd position reached tgt
so first position -9.9
2nd position +10.1

I like the r/r in this strategy...

next trade is US market open.... 3 1/2 hours from now.
I'm free from forex for 3 1/2 hours.
Attached Image (click to enlarge)
Click to Enlarge Name: open4.gif Size: 58 KB
  • #6
  • May 18, 2011 2:24am May 18, 2011 2:24am
Quoting jiva34
one position got stopped out.
almost reached the tgt...
waiting on the other one.
If it reaches tgt then breakeven.
if it stops out then -20 pips

Hi Are you sure that 1min can be used... ? are you doing buy limit or sell stop...?


Adious...
  • #7
  • May 18, 2011 2:44am May 18, 2011 2:44am
Quoting Knez
jiva,

according to this site information, Tokyo will close in 25min time, so your trade would not be correct on this, IMO.

Knez.

P.S. it is very big question what to take as a opening time of each market, as we always have pre-market action.
Hi,
Thought I got it right. At least according to this:
http://www.forexmarkethours.com/
  • #8
  • May 18, 2011 2:46am May 18, 2011 2:46am
Quoting fortheex
Hi Are you sure that 1min can be used... ? are you doing buy limit or sell stop...?


Adious...
1 min, yes...

limit orders, no.
But maybe they could be used.
I'm not using them...
  • #9
  • May 18, 2011 2:48am May 18, 2011 2:48am
Quoting Knez
jiva,

according to this site information, Tokyo will close in 25min time, so your trade would not be correct on this, IMO.

Knez.

P.S. it is very big question what to take as a opening time of each market, as we always have pre-market action.
yes there is pre market action...
But in this strategy I'm only looking at 1 minute after the actual open or close.
Maybe another strategy could be developed for pre market.
  • #10
  • May 18, 2011 3:16am May 18, 2011 3:16am
Example of why the macd should be consulted
All 3 settings for macd show upside...
the 2nd 1 min candle after London open showed down close.
No short trade......
Attached Image (click to enlarge)
Click to Enlarge Name: open5.gif Size: 35 KB
  • #11
  • May 18, 2011 3:27am May 18, 2011 3:27am
Quoting jiva34
Hi,
Thought I got it right. At least according to this:
http://www.forexmarkethours.com/


jiva,

I don't understand why they show that EST time is GMT-5 when now (during summer time) EST or NY time is GMT-4.

Confusing with not updating summer time comparing to winter time.

Knez.
  • #12
  • May 18, 2011 3:36am May 18, 2011 3:36am
Quoting Knez
jiva,

I don't understand why they show that EST time is GMT-5 when now (during summer time) EST or NY time is GMT-4.

Confusing with not updating summer time comparing to winter time.

Knez.
Anything to make it more confusing...
As if it isn't confusing enough....
  • #13
  • May 18, 2011 5:19am May 18, 2011 5:19am
I missed the US open...
Somehow I was thinking it was 8:30 est..
guess that's just from watching data releases...
It would have been good..
1st tgt reached +10
and would still be in trade for 2nd position..
Attached Image (click to enlarge)
Click to Enlarge Name: open6.gif Size: 36 KB
  • #14
  • May 18, 2011 5:21am May 18, 2011 5:21am
the 2nd position would have stopped out for a little over breakeven.
so something like +10 and +2...........
Attached Image (click to enlarge)
Click to Enlarge Name: open7.gif Size: 36 KB
  • #15
  • May 18, 2011 5:23am May 18, 2011 5:23am
Next possible trade London close..
about 2&1/2 hours from now
  • #16
  • May 18, 2011 8:12am May 18, 2011 8:12am
stopped out at London close..
-10 and -10
Attached Image (click to enlarge)
Click to Enlarge Name: open8.gif Size: 51 KB
  • #17
  • May 18, 2011 8:33am May 18, 2011 8:33am
simulated trade.
+10 +20
Attached Image (click to enlarge)
Click to Enlarge Name: open9.gif Size: 44 KB
  • #18
  • May 18, 2011 8:46am May 18, 2011 8:46am
Quoting jiva34
stopped out at London close..
-10 and -10

jiva,

London is closing in 14min from now .... it is closing at 1700 London time

Knez.
  • #19
  • May 18, 2011 8:56am May 18, 2011 8:56am
Quoting Knez
jiva,

London is closing in 14min from now .... it is closing at 1700 London time

Knez.
http://t3.gstatic.com/images?q=tbn:A...aRVttmtiM_e9bw
  • #20
  • May 18, 2011 8:58am May 18, 2011 8:58am
Quoting Knez
jiva,

London is closing in 14min from now .... it is closing at 1700 London time

Knez.
Thanks..
This one is accurate...

http://www.forexmarkethours.com/GMT_hours/02/
0 traders viewing now