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  • #1,381
  • Mar 13, 2013 8:47am Mar 13, 2013 8:47am
Quoting smikester
That is not correct. EST is 5 hours behind London, usually. But check it out. How many hours is it currently? Because you changed the clocks in the USA last weekend?
I am aware of that I was clarifying that you were talking about London. He thought you might be talking about US time.
  • #1,382
  • Mar 13, 2013 8:51am Mar 13, 2013 8:51am
Quoting Seneca pilot
I am aware of that I was clarifying that you were talking about London. He thought you might be talking about US time.
What I was trying to say and may not have been clear on is that the Daily open that I use and the Daily open GMT have about the same success rate. You can use either one. Sometimes yours will work and mine fail. Sometimes mine will work and yours fail. Most of the time the two prices are so close together so as not to matter.
  • #1,383
  • Mar 13, 2013 8:55am Mar 13, 2013 8:55am
Quoting Seneca pilot
I am aware of that I was clarifying that you were talking about London. He thought you might be talking about US time.
That's OK then. Sorry.
Gone to a better place
  • #1,384
  • Mar 13, 2013 9:06am Mar 13, 2013 9:06am
Quoting smikester
That's OK then. Sorry.
Just try quoting time in UTC
make life easier
  • #1,385
  • Mar 13, 2013 9:09am Mar 13, 2013 9:09am
Quoting Danny Maina
Just try quoting time in UTC
make life easier
I made sure to post all my times in GMT when explaining things but with a worldwide forum it is inevitable that there will be time zone confusions.

EDIT: Its funny GMT is simple enough but then you add in EST, EDT, CET, BST, and all the other zones and changes I have seen a few threads on here go on a three page tangent on time zones.
  • #1,386
  • Mar 13, 2013 9:27am Mar 13, 2013 9:27am
GBP/USD - missed my entry by a couple of pips - a nice area for a quick scalp (as it would be quite a heavy counter-trend trade). A demand level and Tuesday London Close + Daily Open 3 pips apart, 15 pips scalp to Weekly Close. Anyway, this area might turn the price a bit harder. Any thoughts?
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  • #1,387
  • Edited 9:51am Mar 13, 2013 9:32am | Edited 9:51am
Another trade example today. I am only in front of the computer during US session. As stated before my trades are very similar to the basis of this thread, but I choose my risk/reward and entry a little different. SP talks a lot about finding your own way...

FYI, I was going to post this after entry, but I don't know how this would affect my decisions after the fact due to the subjectivity in my observation I need to manage a trade like this. Also, I took a small loss prior to this trade this morning. It was a very short term trade that is a higher risk, but doesn't relate well here. Just wanted to point out my loss as well.

Questions or comments are welcomed...

EDIT: my chart says Asian & Babel, which should be Asian & BASEL not Babel. This was the major error in the chart, but excuse the others as I was typing fast.

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  • #1,388
  • Mar 13, 2013 9:33am Mar 13, 2013 9:33am
Quoting Seneca pilot
I made sure to post all my times in GMT when explaining things but with a worldwide forum it is inevitable that there will be time zone confusions.

EDIT: Its funny GMT is simple enough but then you add in EST, EDT, CET, BST, and all the other zones and changes I have seen a few threads on here go on a three page tangent on time zones.
I know what you mean. Sometimes people don't even know the session time in their own country. It's definitely easier to quote "New York Open" or "London close" and so on and let people choose their own take on this.

I wanted to add that London is pretty much the largest Forex centre and always has been. This means that a lot of commercial deals are put through London by companies who operate internationally. A lot of these deals have been waiting during the 15 or so hours that London is closed and go through at spot after the London open, therefore setting the trend for the day. This is often, but not always, the case.

This is then thrown into disarray when New York opens and the world's largest economy releases news figures. As if this wasn't enough to contend with, half way through the US session, London starts to square its books and causes all sorts of whipsaws. The second half of the US session is generally calmer.
Gone to a better place
  • #1,389
  • Mar 13, 2013 9:38am Mar 13, 2013 9:38am
Quoting bangster
GBP/USD - missed my entry by a couple of pips - a nice area for a quick scalp (as it would be quite a heavy counter-trend trade). A demand level and Tuesday London Close + Daily Open 3 pips apart, 15 pips scalp to Weekly Close. Anyway, this area might turn the price a bit harder. Any thoughts?
In on H4 short.
long term looking good.
  • #1,390
  • Mar 13, 2013 10:10am Mar 13, 2013 10:10am
Quoting bangster
GBP/USD - missed my entry by a couple of pips - a nice area for a quick scalp (as it would be quite a heavy counter-trend trade). A demand level and Tuesday London Close + Daily Open 3 pips apart, 15 pips scalp to Weekly Close. Anyway, this area might turn the price a bit harder. Any thoughts?
You are catching on quickly. As you have noted areas where multiple key levels are the same or very close together are usually great trades.
  • #1,391
  • Mar 13, 2013 10:13am Mar 13, 2013 10:13am
Quoting Seneca pilot
You are catching on quickly. As you have noted areas where multiple key levels are the same or very close together are usually great trades.
I'm just trying to locate and ignore the BS and learn from the rest (there is not much left though)
  • #1,392
  • Mar 13, 2013 10:14am Mar 13, 2013 10:14am
Quoting TantumVerum
Another trade example today. I am only in front of the computer during US session. As stated before my trades are very similar to the basis of this thread, but I choose my risk/reward and entry a little different. SP talks a lot about finding your own way...

FYI, I was going to post this after entry, but I don't know how this would affect my decisions after the fact due to the subjectivity in my observation I need to manage a trade like this. Also, I took a small loss prior to this trade this morning. It was a very short term trade that is a higher...
The second thrust down should not have surprised you as it was pretty much a measured move of the news bar. Another great news trade today on EU
  • #1,393
  • Mar 13, 2013 10:16am Mar 13, 2013 10:16am
Quoting smikester
I know what you mean. Sometimes people don't even know the session time in their own country. It's definitely easier to quote "New York Open" or "London close" and so on and let people choose their own take on this.

I wanted to add that London is pretty much the largest Forex centre and always has been. This means that a lot of commercial deals are put through London by companies who operate internationally. A lot of these deals have been waiting during the 15 or so hours that London is closed and go through at spot after the London open,...
Yes I would say that maybe 80% of my trades are triggered during London. It hurts to have to stay up so long into the night. Really working on the wife to move to a kinder time zone.
  • #1,394
  • Mar 13, 2013 10:22am Mar 13, 2013 10:22am
Quoting bangster
GBP/USD - missed my entry by a couple of pips - a nice area for a quick scalp (as it would be quite a heavy counter-trend trade). A demand level and Tuesday London Close + Daily Open 3 pips apart, 15 pips scalp to Weekly Close. Anyway, this area might turn the price a bit harder. Any thoughts?
Make sure you are prepared for a potential stop out. A short at the weekly close may well work out but be cautious as I would prefer to see price get a little lower then retest from below. Maybe a bounce off the last week low first.
  • #1,395
  • Mar 13, 2013 10:22am Mar 13, 2013 10:22am
Quoting Seneca pilot
Yes I would say that maybe 80% of my trades are triggered during London. It hurts to have to stay up so long into the night. Really working on the wife to move to a kinder time zone.
Ah yes, somewhere in Southern Europe would be nice. I'm in London currently, the weather is messed up here constantly and everybody is in such a rush - hard to relax in this environment
  • #1,396
  • Mar 13, 2013 10:26am Mar 13, 2013 10:26am
Quoting Seneca pilot
Make sure you are prepared for a potential stop out. A short at the weekly close may well work out but be cautious as I would prefer to see price get a little lower then retest from below. Maybe a bounce off the last week low first.
I am out ATM actually, will wait for the price to move out of the zone. Could be a nice short from London Open or, if price declines, on a retest of my previously mentioned Daily Open/Tuesday London Close.
  • #1,397
  • Edited 1:33pm Mar 13, 2013 11:09am | Edited 1:33pm
All those who wish to ask questions about timezones may have deliberately skipped Post# 218. or decided to spam the thread from the middle.
I would rather we refer them to that post. SP is it possible to edit that post to include Daylight Saving Time.
  • #1,398
  • Mar 13, 2013 12:10pm Mar 13, 2013 12:10pm
hi guys, hope you had a good day and a good trade to the guy who posted inhere a few hours ago, i think he got out about 12983. i believe e/u went to 3rd support but i wasnt with it as i said but oil but good busted the opening 15 then 1 hour. i did have one casualty (loss but i do not like to use this word) i will be asking questions regarding news trading but SP mentioned tax and that reminded me i have to do some tax return work aaaaargh. be good
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,399
  • Mar 13, 2013 2:08pm Mar 13, 2013 2:08pm
Quoting square1
All those who wish to ask questions about timezones may have deliberately skipped Post# 218. or decided to spam the thread from the middle.
I would rather we refer them to that post. SP is it possible to edit that post to include Daylight Saving Time.
The post is too old to edit. I gave the times in GMT so that people could make their adjustments based on a time that never changes.
  • #1,400
  • Mar 13, 2013 2:56pm Mar 13, 2013 2:56pm
I have a question for Seneca or anyone who can help out.
Earlier today after the Frankfurt open, G/U found support at 1.4921 (twice).
What was that level? why price shot up from there?
Any thoughts are appreciated.
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Never Trade without a defined risk, never, never, never.
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