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Lon-NY trading system

  • #1
  • First Post: Edited Feb 23, 2013 2:13am Feb 21, 2013 1:03am | Edited Feb 23, 2013 2:13am
Hello

Lon-NY Day Trading Strategy was presented by Walker England
in FXCM Expo
I have attached a PDF file that explains the method
But better than that, there is a video of Walker England presents the strategy in detail. The video is here:

https://www.youtube.com/watch?v=lhO5ESAskTk

Does anyone know of this strategy? And have an opinion on it?
Would love to hear any comment you have on this strategy.
Attached File(s)
File Type: pdf Lon-NY blueprint 2.0.pdf   77 KB | 2,498 downloads
  • #2
  • Feb 21, 2013 1:36am Feb 21, 2013 1:36am
Sonsored by FXCM (:
Good luck
  • #3
  • Feb 21, 2013 1:47pm Feb 21, 2013 1:47pm
Hi,
Should be easy to make an alarm for the 30 minute chart and the 1 minute chart, but I can not do it. LOL
Ron
  • #4
  • Feb 21, 2013 4:45pm Feb 21, 2013 4:45pm
This is a very good strategy to trade. I have listened to many of Walker Englands webinars, they are well worth the time and effort to tune into. To be honest its almost worth having a small account with FXCM as their free training is quite awesome, they run live trading seminars several times a day, with question and answer sessions attached. They record them too so you can catch the ones you miss or watch the same one over and over again.

As for this strategy it is very good and very similar to my own system, in my opinion the 30min is a bit too far away for my liking for trading the 1 minute trend, I prefer to use the 15 min trend. Also my tip is to wait for the 15 min cci signal on the 15min chart then take the following 1 min signals until the 15 min cci crosses back up over the zero line.

Heres a chart from today showing how nicely it worked on the GBPJPY pair, the top CCI is the 1min and the bottom CCI is the 15min. Notice after the 15min CCI signal how the next two 1 min CCI signals were very good. This is a regular occurrence when you have a strong down trend in place on the 15min like today. (as Walker clearly states "Identify a strong trend first"). By the way make sure the 15min signal is a LH then this set up has a high success rate. This trade went down 120 pips and if you had taken both entries then a 240 pip move.

The secret of this strategy, without doubt is to find the strong trend on the 15 min first then trade the 1 min CCI signals.

Just my twopenneth for what its worth.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.gif Size: 33 KB
Feel the Fear and do it anyway!!!
  • #5
  • Feb 21, 2013 5:45pm Feb 21, 2013 5:45pm
Thanks for this system. Pls can this system be used in 4H TF?
I am more afraid of 100 sheep led by a lion than 100 lions led by a sheep!
  • #6
  • Feb 21, 2013 6:03pm Feb 21, 2013 6:03pm
It will be appreciated if u could attach the template.
I am more afraid of 100 sheep led by a lion than 100 lions led by a sheep!
  • #7
  • Feb 21, 2013 8:40pm Feb 21, 2013 8:40pm
Quoting alon
Hello


Would love to hear any comment you have on this strategy.
Thanks for presenting the system here. It is quite simple and worth trying.
Just want to comment on the suggested trade time ET 5AM -11am.
Being down under I, usually convert to GMT and then add 10 for our local time.
As I recall, ET is GMT -5, so that would mean 10am-4PM GMT.
What is not clear is why 10am instead of London open - say 8am.
Is to make a more acceptable hour for the US, or to allow London to settle?
So those of us in zones ahead of the US, may be worthwhile look for trades from London open.
  • #8
  • Feb 21, 2013 9:34pm Feb 21, 2013 9:34pm
Quoting clivepackham
This is a very good strategy to trade. I have listened to many of Walker Englands webinars, they are well worth the time and effort to tune into. To be honest its almost worth having a small account with FXCM as their free training is quite awesome, they run live trading seminars several times a day, with question and answer sessions attached. They record them too so you can catch the ones you miss or watch the same one over and over again.

As for this strategy it is very good and very similar to my own system, in my opinion the 30min is a bit...

Hi clivepackham,

this strategy seems intertesting, may i ask what is the winning ratio and average pips gain and lose?
  • #9
  • Feb 21, 2013 11:27pm Feb 21, 2013 11:27pm
Hi all!

@Clivepackham
Could you tell,please, where you got your cci indi?
Thank you in advance.
  • #10
  • Feb 21, 2013 11:47pm Feb 21, 2013 11:47pm
Quoting alon
Hello

Lon-NY Day Trading Strategy was presented by Walker England
in FXCM Expo
I have attached a PDF file that explains the method
But better than that, there is a video of Walker England presents the strategy in detail. The video is here:

https://www.youtube.com/watch?v=lhO5ESAskTk

Does anyone know of this strategy? And have no opinion on it?
Would love to hear any comment you have on this strategy.
You can compare his 5M scalping with 5Min MoMo scalping. You need a high liquid pair and low spread pair to trade during the London session including the LON-NY overlap market hours. Great time to 5Min scalp EU and GU.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #11
  • Feb 22, 2013 3:21am Feb 22, 2013 3:21am
Hello

I try this strategy a few days and seems that it works for signals that the CCI gives. The problem I noticed it is trading in one minute because of the spread the risk vs. reward ratio is problematic. 1:1 ratio is not good for me.
I found a solution by that FXCM enabling to trade in UK100 and GER30 where they take one PIP sprad that allows me to generate a good income risk ratio of at least 2:1 or more. But it is only suitable for trading in Europe and the United States.


Alon
  • #12
  • Feb 22, 2013 8:52am Feb 22, 2013 8:52am
Quoting alon
Hello

I try this strategy a few days and seems that it works for signals that the CCI gives. The problem I noticed it is trading in one minute because of the spread the risk vs. reward ratio is problematic. 1:1 ratio is not good for me.
I found a solution by that FXCM enabling to trade in UK100 and GER30 where they take one PIP sprad that allows me to generate a good income risk ratio of at least 2:1 or more. But it is only suitable for trading in Europe and the United States.
Alon
A few solutions:
1) CCI works on other TFs besides M1. 2) Try looking for a broker with a tight spread, e.g. EU of around 0.9p to 1.0p. If that broker is in US, then open an account with the US broker. if you do not know of a broker with spread this tight, you can PM me for US broker with 0.9p-1.0p spread.
  • #13
  • Feb 22, 2013 2:41pm Feb 22, 2013 2:41pm
Quoting alon
Hello

Lon-NY Day Trading Strategy was presented by Walker England
in FXCM Expo
I have attached a PDF file that explains the method
But better than that, there is a video of Walker England presents the strategy in detail. The video is here:

https://www.youtube.com/watch?v=lhO5ESAskTk

Does anyone know of this strategy? And have no opinion on it?
Would love to hear any comment you have on this strategy.

not a good strategy if the r:r is just 1:1.

all you need is three losses of 10 pips in a row and you will be struggling to get back on top. 2 more losses after that, you are in trouble.

also, i understand this method is only to trade the lon-ny ''overlap''. meaning the 3 hrs between 3pm and 6pm gmt.

iam afraid not many signals as per the strategy in that time. you will be lucky to get 1 or 2 trades each day. and they could turn out losers too.

as i understand, if the 30min trend is down (price below 200sma), then the 1 min trend must also be down (price below 200sma). you would then only take short trades once cci crosses below +100. this doesnt occur that often. what i mean is often price would show a downtrend on 30m (price below 200sma), but on the 1 min price is above 200 sma, therefore an uptrend on the 1 min. so you would be sitting it out, not taking trades, waiting for price to fall below 200sma on the 1 min -- may not happen in those 3 hours.

also, often price ranges on the 1min even though the 30m is showing a clear trend. the price on 1 min flactuates up and down the 200sma, stopping you out on either direction you are trading, even though cci shows the correct entries. a very dangerous strategy.


i quickly glanced back 7 days of charts, and the above is what i discovered. on one day there were three 10 pip losses in a row. another day just 1 trade materialised and that was a 10 npip loss too. one 10 pip win on another day then market ranged up and down the 200sma. another day no signals materialised in those 3 hours of lon-ny overlap.

hardly a winning strategy.


i know 7 days worth of data aint enough to check the viability of a strategy, but you tend to get a general idea anyway.


and with a risk reward of 1:1, you will be struggling.

i wonder if the guy in the video could show us his trade history for the past few months ?
  • #14
  • Edited 4:51pm Feb 22, 2013 2:49pm | Edited 4:51pm
Quoting whatfx
not a good strategy if the r:r is just 1:1.
To set the record straight, plenty of professional traders target 1R, i.e. a reward:risk of 1:1. This is the way they are wired.

There is no wrong way to trade. There are only results.
  • #15
  • Feb 22, 2013 3:54pm Feb 22, 2013 3:54pm
Quoting EaglePip
Thanks for presenting the system here. It is quite simple and worth trying.
Just want to comment on the suggested trade time ET 5AM -11am.
Being down under I, usually convert to GMT and then add 10 for our local time.
As I recall, ET is GMT -5, so that would mean 10am-4PM GMT.
What is not clear is why 10am instead of London open - say 8am.
Is to make a more acceptable hour for the US, or to allow London to settle?
So those of us in zones ahead of the US, may be worthwhile look for trades from London open.
They give confusing information; I think it about convenient trading times for USA traders, as you mention, no reason why others cannot start trading earlier from London or even Frankfurt open as long as the price action is happening.

Very long winded seminar, but directed at new traders I suppose.

Attached Image(s) (click to enlarge)
Click to Enlarge Name: lon_ny_1.png Size: 159 KB
Click to Enlarge Name: lon_ny_2.png Size: 272 KB
It takes a lot for me to IGNORE you, but you can try.
  • #16
  • Feb 22, 2013 4:11pm Feb 22, 2013 4:11pm
Quoting whatfx
not a good strategy if the r:r is just 1:1.


also, i understand this method is only to trade the lon-ny ''overlap''. meaning the 3 hrs between 3pm and 6pm gmt.

i am afraid not many signals as per the strategy in that time. you will be lucky to get 1 or 2 trades each day. and they could turn out losers too.
You do not understand the suggested trading times, not sure how you understand it to be only the "overlap" ? see previous post or watch the video again

At 33:00 of the video, he says that he is only after 3 trades per day; surely on a 1 min charts, even watching the strong trending pairs, I'm sure it is easy to find 3 trades, no luck involved.

It takes a lot for me to IGNORE you, but you can try.
  • #17
  • Feb 22, 2013 5:40pm Feb 22, 2013 5:40pm
I like, Will test next week.

I see potential in improving the R:R ratio..
  • #18
  • Feb 22, 2013 7:27pm Feb 22, 2013 7:27pm
Quoting Erebus
....., no reason why others cannot start trading earlier from London or even Frankfurt open as long as the price action is happening.

...


Will be checking it out when I return from holiday in 3 weeks.
EP
  • #19
  • Feb 23, 2013 2:33am Feb 23, 2013 2:33am
Quoting whatfx
not a good strategy if the r:r is just 1:1.

all you need is three losses of 10 pips in a row and you will be struggling to get back on top. 2 more losses after that, you are in trouble.

also, i understand this method is only to trade the lon-ny ''overlap''. meaning the 3 hrs between 3pm and 6pm gmt.

iam afraid not many signals as per the strategy in that time. you will be lucky to get 1 or 2 trades each day. and they could turn out losers too.

as i understand, if the 30min trend is down (price below 200sma), then the 1 min trend...


It seems to me that in terms of times you can trade it does not have to be just the overlaping Hours London- New York. You can trade any time that there is a strong trend with the 200 SMA is rising or falling , but not flat!
And the hours that are very volatility. thanyou can find more signals throughout the day with CCI. And the graph also show that signals are correct.
But the main problem again is taking a position that allows on the graph gain of eight Pips when the
spread is 2.5, so a gain of about 5 pips with stoploss of 4 pips is a 1:1 ratio , this is a problem.
If I see something needs to improve in this strategy is not time of trading or signals, its the risk vs. reward ratio.
  • #20
  • Feb 23, 2013 5:07am Feb 23, 2013 5:07am
Quoting clivepackham
This is a very good strategy to trade. I have listened to many of Walker Englands webinars, they are well worth the time and effort to tune into. To be honest its almost worth having a small account with FXCM as their free training is quite awesome, they run live trading seminars several times a day, with question and answer sessions attached. They record them too so you can catch the ones you miss or watch the same one over and over again.

As for this strategy it is very good and very similar to my own system, in my opinion the 30min is a bit...


where are your entries on this chart ? did you not wait until both the 15m and 1m cci crossed below +100 at the ''same time'' before taking the short trade ? if you wait for the 15 m to cross below +100, by this time the 1m may already be below the 0 line , so too late to enter on the 1m. how do you base your entries ?
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