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a few questions about London close strategy

  • #1
  • First Post: Dec 13, 2010 4:41am Dec 13, 2010 4:41am
HI evey one

I'm learning London Close strategy by vic noble and Shirley . Does anyone else learning this strategy ? I have some questions

There are some unmeaning parts for me

Thanks
  • #2
  • Dec 17, 2010 3:10am Dec 17, 2010 3:10am
Hi I have some knowledge.let me know what questions you, i will see if i can help.
Thanks
  • #3
  • Dec 28, 2010 12:51am Dec 28, 2010 12:51am
I have some questions about this also but I can not PM you as a junior member. Can you PM me some basic details about the system and whether you trade it. Thanks
  • #4
  • Jun 12, 2011 7:00am Jun 12, 2011 7:00am
Can someone actually explain the rules of this trading strategy or is it confidential? I have heard about it before but find it hard to believe it could be as good as seems to be being claimed.
  • #5
  • Edited Jun 17, 2011 3:43am Jun 16, 2011 1:15pm | Edited Jun 17, 2011 3:43am
Quoting Davidee
Can someone actually explain the rules of this trading strategy or is it confidential? I have heard about it before but find it hard to believe it could be as good as seems to be being claimed.
I'm learning it and have a ton of questions and nowhere to ask them. The method appears to be sound as I've used variations of it before for swing trading with pretty good success. I seriously doubt the results shown by Shirley are doctored.

Here's a summary of it that I found on another forum that pretty well explains it.

The London Close is a low risk trend reversal strategy. The idea is to trade the re-bounce at the end of London Session when the volatility decreases which signals an end of the daily trend and also the price should have reached the ADR (average true range). Both of these conditions provide high probability of reversal to capture low risk profits.

Here are the 10 Steps of London Close Method:

1. Observe the 5 day Average Daily Range
2. Identify qualified pairs
3. Wait until the London Close time window
4. Check the US Dollar Index.
5. Check for key Support & Resistance levels on higher time frames
6. Note the risk environment
7. Enter using the Noble Entry Technique
8. Set the stop
9. Manage the trade
10. Exit at profit targets
http://www.traderszone.com/video-vau...-accuracy.html

From my testing of it for the few days I've had access to the course, it seems to be on the up and up and definitely worth closer examination.
  • #6
  • Jun 19, 2011 7:21pm Jun 19, 2011 7:21pm
Quoting captmilkdud
I'm learning it and have a ton of questions and nowhere to ask them. The method appears to be sound as I've used variations of it before for swing trading with pretty good success. I seriously doubt the results shown by Shirley are doctored.

Here's a summary of it that I found on another forum that pretty well explains it.

The London Close is a low risk trend reversal strategy. The idea is to trade the re-bounce at the end of London Session when the volatility decreases which signals an end of the daily trend and also the price should have reached...
Don't these guys give you support and a place to ask your questions?

I've been trading a London Close strategy for a while now and I would pretty much say it is the same thing Vic Noble is touting. Would the following be your rules:

Look for pairs that are past their ADR/ATR (5), support or resistance on the higher time frames (D1, H4, H1), a pull back from S&R (a % of the daily pip value) and then apply the Fib. What are Shirley and Vic saying....79% retracement entry with a 5 or 10 pip SL on the high? S&R on USDindex, and don't enter USD/CHF without the ADR (5) being met on the USD index? Daily Pivot Points and round numbers added for confluence at entry? Take first profit at the same amount of pips that you risked, and a second profit at 38% retracement of the daily range/ 127% extension level? What about mitigation.....a second Noble entry or maybe Turtle soup after a false breakout?

Fire away with your questions....you might be surprised by an outsider's take on what you are trying to learn. The strategy is in fact a winner, but it takes time and a little fine tuning to get it down.
  • #7
  • Jun 20, 2011 9:11am Jun 20, 2011 9:11am
Quoting FXdude
Don't these guys give you support and a place to ask your questions?

I've been trading a London Close strategy for a while now and I would pretty much say it is the same thing Vic Noble is touting. Would the following be your rules:

Look for pairs that are past their ADR/ATR (5), support or resistance on the higher time frames (D1, H4, H1), a pull back from S&R (a % of the daily pip value) and then apply the Fib. What are Shirley and Vic saying....79% retracement entry with a 5 or 10 pip SL on the high? S&R on USDindex, and don't enter USD/CHF...
Right on bro!
You pretty much got it and they do give support but you have to pay some $45.00 some odd bucks a month to get it. Not sure if it's worth it but going to give it a try and see and provide the results here.

So far (a little over a week) of testing it with a demo it seems to work pretty damn good.
  • #8
  • Jun 20, 2011 10:35am Jun 20, 2011 10:35am
Quoting captmilkdud
Right on bro!
You pretty much got it and they do give support but you have to pay some $45.00 some odd bucks a month to get it. Not sure if it's worth it but going to give it a try and see and provide the results here.

So far (a little over a week) of testing it with a demo it seems to work pretty damn good.
I'd advise you to play with it for a month before throwing any more money at them. The set up is not that difficult to get a handle on. Make sure you adhere to strict money management - stop loss and take profits as they suggest - and you will start to see results. Don't expect to jump straight in with 90% accurancy because it isn't likely to happen unless you've been at the game a while.

Fire away if you have any questions. This course is shrouded in secrecy, but the basic premise can be found on the internet for free if you search hard enough. As for the Noble entry.....well take a look on your charts in any time frame, at any time of the day, and you will be able to find it. If Vic Noble was really the one to discover it, he wouldn't need to be scraping around for 300 bucks here and there!

Have fun!
  • #9
  • Jun 24, 2011 11:03am Jun 24, 2011 11:03am
Quoting FXdude
I'd advise you to play with it for a month before throwing any more money at them. The set up is not that difficult to get a handle on. Make sure you adhere to strict money management - stop loss and take profits as they suggest - and you will start to see results. Don't expect to jump straight in with 90% accurancy because it isn't likely to happen unless you've been at the game a while.

Fire away if you have any questions. This course is shrouded in secrecy, but the basic premise can be found on the internet for free if you search hard enough....
Thanks Dude
I've been in the FX game for about three years now. Tried a bunch of different systems, this one is by FAR the best. I've demoed it and used it with Forex Tester Professional and live twice. So far 23 trades and no losers. More BE's than winners but not by much and mostly due to my rookiness.

The member's area is turning out great too so will stick with it. Saves me a lot of time figuring out the levels plus being able to see how she managed on the same day as I traded and often the same pairs really helps.
  • #10
  • Jul 20, 2011 10:31am Jul 20, 2011 10:31am
They've pulled a fast one really, once you pay the fee for the course and all the stuff that is available, you then have to pay $47/M for the daily updates, enhancements etc. There is no mention of this monthly charge and I guess you don't need to pay it, but when you start trading these there is no way of knowing if you are doing things correctly and if your trades are matching theirs. They are very slow to answer emails, after you've paid your up front, it seems you're left to sink or swim, with little support unless you want to pay for it. There are lots of examples and videos to go through, the results published won't be anything like what you'll get, there are to many things left to discretion and some discrepencies between the rules and trades taken on the videos.
  • #11
  • Edited 8:47am Aug 3, 2011 8:29am | Edited 8:47am
Quoting zortan
They've pulled a fast one really, once you pay the fee for the course and all the stuff that is available, you then have to pay $47/M for the daily updates, enhancements etc. There is no mention of this monthly charge ...
Yes there is mention of the fee for the Daily Summary Report under Bonus Resource #2. Not sure how you missed that.

I consider the fee for the updates very reasonable compared to what you get and in relation to the effort put forth daily to produce it and the learning benefits from seeing what she traded and why.

As to your other complaints. I wouldn't expect to get the same results right off the bat compared to the person who devised the system and has been trading it for several years. Also, I have yet to see any system worth a damn that doesn't require some discretion.

My complaints so far consist of all the crap cluttering up the charts published in the Daily Updates. I nice addition would be a legend explaining all the abbreviations, etc. It would also be nice if they could edit the Q&A videos better.

With that said. I have found this method/course and the updates well worth the money.
  • #12
  • Oct 4, 2011 5:15pm Oct 4, 2011 5:15pm
Quoting captmilkdud
I'm learning it and have a ton of questions and nowhere to ask them. The method appears to be sound as I've used variations of it before for swing trading with pretty good success. I seriously doubt the results shown by Shirley are doctored.

Here's a summary of it that I found on another forum that pretty well explains it.

The London Close is a low risk trend reversal strategy. The idea is to trade the re-bounce at the end of London Session when the volatility decreases which signals an end of the daily trend and also the price should have...
it seems like the forum you quoted (Traders Zone) above have stopped receiving new members.

can you post some of the files here for us? as long as it does not violate ff's terms and conditions.

thank you in anticipation of your prompt and your favourable reply
Rikhart
Two is a coincidence; three is a pattern!
  • #13
  • Oct 9, 2011 6:42am Oct 9, 2011 6:42am
Quoting rikhart
it seems like the forum you quoted (Traders Zone) above have stopped receiving new members.

can you post some of the files here for us? as long as it does not violate ff's terms and conditions.

thank you in anticipation of your prompt and your favourable reply
Rikhart
I wish I could but I had the same problem, (i.e. not able to register).

What files are you looking for?
  • #14
  • Edited 7:45am Oct 9, 2011 7:31am | Edited 7:45am
Concerning the Daily Updates for the LCT system. The price has been reduced to $27.00 a month. At $47.00 it was very reasonable. Now it's a real bargain.

Also I've found that Shirley will answer your emails, should you have any questions or comments, either the same day or the next. Considering how busy she must be with the updates, trading, being a Realtor, a grandmother and wife is absolutely amazing!

I've tried several other courses recently from this service (Forexmentor.com) in hopes of adding additional techniques for trading longer term setups.

One was their FXT course (Tactical FX Trend trading), which is a day trade method devised by Kelvin Thornley and their Fibonacci Swing Trader (FST) course by Frank Paul, that's for Position and Swing trades.

I was very impressed with the FXT course which uses a very simple method to determine which way to trade based on where price is in relation to Bollinger Bands on a daily chart.

When the right conditions are met using the bands, Stochastics is used on a one hour chart. If Stochs goes into an overbought (80 or above when in a downtrend) or oversold (20 or below in an up trend) condition you then watch for confluence of Fibs, pivot points, etc., to determine an entry level.

I dedicated a little over a month to testing this system using demos and Forex Tester Professional and found it works best in the Asian session's close to London open time frame.

The other course, FST, was a real challenge to learn as Frank Paul is very long winded and extremely redundant in his explanations of how to trade this method. He also seems to be making it up as he goes along, revising the method at least once a month (or so it seems). I'm sure, eventually, this system will be worth the time and patience needed to sit through all the videos used to explain it but at this time (in my opinion) it isn't.
  • #15
  • Oct 9, 2011 4:08pm Oct 9, 2011 4:08pm
Quoting captmilkdud
I wish I could but I had the same problem, (i.e. not able to register).

What files are you looking for?
I went thru the forum and it seems like they had the videos of the London Close posted some where.wanted to download and watch a few to see if I could adapt it to my trading style.

any way it seems like you have it. cos you seem to be pretty impressed by it.

just tired of the trial and error style of buying systems that are expensive and do not deliver as advertised (eg Bill Poulos has a way of always selling something new every 6 months or so)

Are there videos or detailed explanations or screen shots of the London close strategy any were on the internet?

thanks
Two is a coincidence; three is a pattern!
  • #16
  • Oct 10, 2011 5:20am Oct 10, 2011 5:20am
Quoting rikhart
just tired of the trial and error style of buying systems that are expensive and do not deliver as advertised (eg Bill Poulos has a way of always selling something new every 6 months or so)

Are there videos or detailed explanations or screen shots of the London close strategy any were on the internet?

thanks
Yep. I'm pretty impressed with the London Close Trade system. And I have had the same luck as you trying to find a decent system that I can adopt to fit me and my work schedule. I get the Poulos emails too. Also Mitchell and TONS from Nisen, etc.

This one is the real deal though if you like scalping. I've never had much use for scalping. I've read so much in the past that poo poo's it as a fast way to the poor house.

Here's a Camtasia video of a webinar that was recently (past week) put out for the general public that really gives you a good handle on how it works.

This is a copy of the email I got and the link to the video is at the bottom:

"The recording of our FREE London Close Trade Strategy webinar is now
available. In this webinar, we went over, step by step, the process
involved in trading the London Close time window that has seen Shirley
Hudson bank over 10,000 average pips per lot in less than 21 months of
trading.

This is a tremendous accomplishment by any standard. If you were unable to
attend the webinar (or would like to hear it again), this is one that you
won’t want to miss. We also presented a very special limited time pricing
offer should you be interested in purchasing the full course. You can
listen to the webinar at:

===> http://www.forexmentor.com/londonclose/10000pips
  • #17
  • Nov 12, 2011 7:46am Nov 12, 2011 7:46am
i've been using this method. Just wondering if aspects of it can be turned into an EA. If not, then atleast the noble method.

Any ideas?
  • #18
  • Nov 12, 2011 2:14pm Nov 12, 2011 2:14pm
In case anyone is interested, there does indeed seem to be something significant about the time you place a trade, the GBP/USD pair for example, often seems to retrace a little during the evening (evening GMT time) if it makes a large move during the London session Day Trading Times

I'd still like to know more about the rules of this particular system though...
  • #19
  • Nov 12, 2011 2:26pm Nov 12, 2011 2:26pm
Quoting hno2005
HI evey one

I'm learning London Close strategy by vic noble and Shirley . Does anyone else learning this strategy ? I have some questions

There are some unmeaning parts for me

Thanks
I don't understand.
  • #20
  • Nov 12, 2011 3:53pm Nov 12, 2011 3:53pm
Quoting Davidee
In case anyone is interested, there does indeed seem to be something significant about the time you place a trade, the GBP/USD pair for example, often seems to retrace a little during the evening (evening GMT time) if it makes a large move during the London session Day Trading Times

I'd still like to know more about the rules of this particular system though...
Interesting study there.
I noticed that fade some time ago with GBP/USD and had some good trades as a result of entering against the latest market flow at the close of the London Session as long as the flow was significant and appeared to be ending at a strong S/R level.

That's what got me so interested in this system that I bought the course.

I'm really glad I did as not only is the system a good one, it introduced me to ForexMentor.com and the other systems that are taught there.

They recently reduced the cost to join their Coach's Corner with Vic Noble, so I joined that. The webinars that are on Monday's and Thursday's discuss various trades taken by members and goes through them bit by bit. Vic also has guests (successful traders) that discuss various systems, etc.

Shirley Hudson who developed the London Close Strategy, is often a guest, as is Kelvin Thornly who developed the Tactical FX Trend Trading Strategies training program. Both are totally awesome traders!!

Kelvin has been sharing a system referred to as Slingshots which seems to be a modified version of the Trend one mentioned above and has been dominating most of the interest of the group lately along with Shirley's system.

These two systems go hand in hand as one is primarily used during the regular market hours (London open mostly) and the other during the London close.

Every session of the Coach's Corner is recorded and the archive that you get access to when joining is very extensive (several years worth). This is the best investment I've made in my Forex education since I began in the summer of 2008.

Quoting Davidee
I'd still like to know more about the rules of this particular system though...
What would you like to know?
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