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  • #21
  • Jul 17, 2014 2:37pm Jul 17, 2014 2:37pm
Jysticim

Thank you for the chart. Correct me if I'm wrong:

Rules
1. Take a position at 10am London time = the beginning of 3rd bar from London open. Short if the previous bar/2nd bar/9-10am is negative/downward, Long otherwise.
2. Close the position 23 hours later at 9am next day unless SL hits.

If I'm right, this system has a tremendous possibility. I really like the idea that you enter once a day at London opening. I'm trying this kind of trading method for a long time with fair success. The key is SL, TP, and BE, I think. Also, I'm a little more flexible about the entering time. I use stochastics to find when to enter.

Good luck!
  • #22
  • Jul 17, 2014 3:03pm Jul 17, 2014 3:03pm
Day 2 805 Pips?!
  • #23
  • Jul 17, 2014 3:07pm Jul 17, 2014 3:07pm
Quoting mara1
Day 2 805 Pips?!
It's 80.5 pips or 805 pipettes...
  • #24
  • Jul 17, 2014 3:50pm Jul 17, 2014 3:50pm
@ ExForX

Yes the broker Exness paid that amount, I am in partnered with them and I can say that they are reliable. But there are many more good brokers out there. I have met brokers that didn't refuse pay outs but for example have a lot of lag on big events etc. But I can say that the brokers listed here on FF are fair enough to give a try. But I think Google can give you the best awnser to your question.

@ wilsonch

Yes you are right. If you play arround with high leverage like 1:2000 the set in stone SL is really short only 3,4 pips. But if you go a 10 factors lower to 1:200 you have a set in stone SL of 34 pips and that good enough.

@ Forexgogo

Yes you are almost right.
London opening: 9:00 (London time, GMT)

1st Candle 9:00-10:00 (We don't trade here, it's the breakout)

2st Candle 10:00-11:00 (At the beginning of the candle we close the trade of yesterday)

At the end of the candle we open the new trade.

Buy if the candle is bullish
Sell if the candle is bearish

3th Candle 11:00-12:00 (Here we do nothing)

@ savingpig

Yup, totally right. I write 805 for my calculations.

Green pipping to everyone
  • #25
  • Jul 17, 2014 4:17pm Jul 17, 2014 4:17pm
Quoting Jysticim
@ ExForX Yes the broker Exness paid that amount, I am in partnered with them and I can say that they are reliable. But there are many more good brokers out there. I have met brokers that didn't refuse pay outs but for example have a lot of lag on big events etc. But I can say that the brokers listed here on FF are fair enough to give a try. But I think Google can give you the best awnser to your question. @ wilsonch Yes you are right. If you play arround with high leverage like 1:2000 the set in stone SL is really short only 3,4 pips. But if you...
Doesn't London open 8:00? And isn't londen @ gmt+1?
  • #26
  • Jul 17, 2014 4:43pm Jul 17, 2014 4:43pm
@ Anusragger

London stocks open at 8 AM but forex "opens, the candle"at 9 AM. Plus we don't need to trade the opening breakout!
London is GMT.

GMT = Greenwich Mean Time

Greenwich maps: https://www.google.nl/maps/place/Gre...70a7a162e4ca6c
  • #27
  • Jul 17, 2014 5:00pm Jul 17, 2014 5:00pm
Hi Jysticim, Just to clarify I see your hard stop at 3.4 pips but almost everyday the price retraced at some point to take you out. ie day 1 it pulled back 10 day 2 pulled back 9 pips midday before going 80 pips. day three 4 pips.

What am I missing?

Don
Enter Signature
  • #28
  • Jul 17, 2014 5:30pm Jul 17, 2014 5:30pm
Quoting Jysticim
@ Anusragger London stocks open at 8 AM but forex "opens, the candle"at 9 AM. Plus we don't need to trade the opening breakout! London is GMT. GMT = Greenwich Mean Time Greenwich maps: https://www.google.nl/maps/place/Gre...70a7a162e4ca6c
Hmmm, but forexfactory sessions shows london open @ 8:00 and because of daylight saving london is @ gmt+1. Or am I wrong?
  • #29
  • Jul 17, 2014 5:58pm Jul 17, 2014 5:58pm
Quoting Anusragger
{quote} Hmmm, but forexfactory sessions shows london open @ 8:00 and because of daylight saving london is @ gmt+1. Or am I wrong?
To my knowledge is the london open @ 07:00 GMT ie 09:00 GMT +2 dutch time.
  • #30
  • Edited 10:07pm Jul 17, 2014 6:12pm | Edited 10:07pm
Quoting Jysticim
{quote} 1.35235 1.35335 Pips are mostly shown as you say, in this example 10 pips a 4-digit Broker. 235-335 are still 100 points/pips in a 5-digit Broker it's just the way you look at it.
Quoting Jysticim
{quote}With the calculations it doesn't matter it is only a word comprehension.

No, it is not " only a word comprehension". It doesn't matter whether it is a 4-digit Broker or 5-digit Broker, the truth is that the amount of 100 pips is NOT the same as 10 pips. Even a beginner knows that fact!

Therefore, using the above example:

With a 4 digit broker
Buy at 1.3523 ... exit the trade at 1.3533 = +10 pips

With a 5 digit broker
Buy at 1.35235 ... exit the trade at 1.35335 = +10 pips

As you can see, whether it is a 4 digit broker or 5 digit broker, the result of the above trade is exactly the same. Both trades made +10 pips each. The 5 digit broker did not make "100 pips". However, if you want then you can say the 5 digit broker made "10.0" pips. That would be accurate. But "100" pips is not accurate.

I just want to be sure others here are not mis-led when you say that you made "100 pips" but in reality you made only 10 pips. I am just making sure people know the truth of the exact number of pips you win or lose.
"Dream big and dare to fail." - Norman Vaughan
  • #31
  • Jul 17, 2014 6:38pm Jul 17, 2014 6:38pm
So, if you didn't pull that $27k out and kept going you would have now been $19million richer? lol

If this method was so easy to turn $100 to $27k in 5 days, why not keep doing it and let us know how many times it's worked? Just cash out every fifth day (I understand going any further with such leverage will have massive psychological effects)

Sorry for my skepticism but if this is purely a mechanical method, this can easily be coded and everyone turning $100 into $20k in 5days we'd all be rich... what did you say your projected winning probability for this method was?

PS. as Ace_1 mentioned above - 10pips is 10pips.. you can't say a broker with 5 digits that it's 100pips.. it's your calculation in working out the profit/loss that's changing, but at the end of the day the correct amount of pips is 10... (or as someone else mentioned, you could say 100 pipettes... I guess lol)
  • #32
  • Jul 17, 2014 7:11pm Jul 17, 2014 7:11pm
Just had a look at that broker with the huge leverage - on their website it shows max leverage of 1:2000 for accounts less than $3,000, and is automatically adjusted according to the account equity...

Account Equity | Leverage
$0 — 3000 (1:2000)
$3 000 — 9 999 (1:1000)
$10 000 — 19 999 (1:600)
$20 000 — 49 999 (1:400)
$50 000 — 199 999 (1:200)
$200,000 or more (1:100)

So, technically the results on the front page must be adjusted (less) to account for leverage because you can't keep using the 1:2000 leverage on all those trades. Sorry was a little off-topic, just though I'd state it for anyone thinking about trying this out on this broker, not to expect those results (in dollar terms)
  • #33
  • Jul 17, 2014 7:26pm Jul 17, 2014 7:26pm
i have a question

as forex gogo say :


Rules
1. Take a position at 10 am London time = the beginning of 3rd bar from London open. Short if the previous bar/2nd bar/9-10am is negative/downward, Long otherwise.
2. Close the position 23 hours later at 9am next day unless SL hits.

and you confirm that

the question is :

what exactly the stop loss you use

is it as you said yesterday high or low ???

so why in the first post of this thread when you post the result
at day 5 ,8 , 9, 10 , 11, 12 , 15 , 16, 19

all the loses are the same 3.5 pip ???? why 3.5
do you use a digital sl equal to 3.5 and not using the high or low ???

and in the post no 3 the result you posted each loosing trade have different sl ???

i am confused ​
  • #34
  • Jul 17, 2014 11:41pm Jul 17, 2014 11:41pm
Quoting Jysticim
London is GMT.
Greenwich time is not being adjusted for summer period. So, London is GMT+1 right now.
  • #35
  • Jul 17, 2014 11:46pm Jul 17, 2014 11:46pm
Quoting Anusragger
{quote} Hmmm, but forexfactory sessions shows london open @ 8:00 and because of daylight saving london is @ gmt+1. Or am I wrong?
The opening of forex markets is only a rough estimate because it's open 24/7. Sometimes you see more activity already at 7am London time, sometimes at 9am London time... For stocks it is true, the FTSE 100 opens at 8am London time. This is 9am for you from the Netherlands. It's also true that currently London is GMT+1 which means that the stock market in London opens at 9am in GMT-terms.

Great site if you are confused with time zones:
http://www.worldtimebuddy.com/
  • #36
  • Jul 18, 2014 2:34am Jul 18, 2014 2:34am
any body want to jump in this train??
i am waiting for candle close and update you my entry..
  • #37
  • Edited 2:55am Jul 18, 2014 2:43am | Edited 2:55am
@ Don M
Read the paragraph under rules again.

@ Ace_1
100 Points then, I won't awnser about this anymore.

@ pierre23
The strategy is for 1:200 I showed you guys what can happen with 1:2000 leverage. As you can see with 3.4 pips SL that was just luck. But a good example what leverage can do. Plus in the calculations it does not matter, 10 pips/100 points are the same

Sell Day 22:
Open 1.35355
Close 1.35296 Gain: 59 Pips
59 Pips x (0.00001/1.35296)x(514$ x 200) = 44$ +514$ = 558$

Sell Day 22:
Open 1.35355
Close 1.35296 Gain: 5.9 Pips
5.9 Pips x (0.0001/1.3523)x(514$ x 200) = 44$ +514$ = 558$

That is true for normal accounts but I am parntered then the rules are a bit different but I won't go into that let's focus on the strategy itself.

@ zelenko
Forget about the 1:2000 leverage it is just an example what it can do. Let's focus on the strategy with the leverage of1:200

@ Indrek
Exactly, forgot that

@ savingpig
Ya thats totally true, but normal/winter London it's GMT but now for summer it's GMT+1


Last I want to tell you guys something about London opening, as savingpig already said forex market does not really have an open because it is 24/7. You don't need to take the 2e candle from opening you can take every other candle in the major sessions of the pair. How more trades you make how more you get to the 50/50 win/lose ratio. The entry is as random as a coin flip.
  • #38
  • Jul 18, 2014 4:03am Jul 18, 2014 4:03am
Jysticim nice theory But just to avoid all the confusion can you post charts with your position opening and closing..in the end, the picture is worth a thousand words
  • #39
  • Jul 18, 2014 4:16am Jul 18, 2014 4:16am
I just went long EU on close of the last hourly.
  • #40
  • Jul 18, 2014 5:37am Jul 18, 2014 5:37am
This is like gambling on the roulette , just need to find a way to find an edge to beat the spread and have the "0" on our side....
the market is not random but anything can happen.
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