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London Open Strategy

  • #21
  • Jul 28, 2014 9:21am Jul 28, 2014 9:21am
Quoting Kilian19
it seems like you always move your sl to 10 pips after price goes against you why don't you put it at 10pips in the first place?
Yeah fair enough, that might turn out to be the thing to do, I can certainly make a note of it and look at the probability over time. I don't as yet have enough data on the MM side of things, this is something I want to work on.

My reason for the initial 20 hard stop is to try and avoid any nasty pops in price around a very volatile time in the market. Sometimes it's not enough I know, but as I mentioned earlier the big pops tend to be news fed so we should have some warning..... due diligence.

It's a trade off, excuse the pun, between what I can afford to risk and what I consider a pop free distance. I hope these sort of vague ideas can be optimised with more data.

BTW... if anybody knows of a good MT4 Money management EA please let me know I've been looking but nothing has been found as yet.
  • #22
  • Jul 28, 2014 9:22am Jul 28, 2014 9:22am
Quoting spyderman
{quote} Probably guarding against spikes on the LO
  • #23
  • Jul 28, 2014 10:17am Jul 28, 2014 10:17am
Quoting Quidsey
{quote} Yeah fair enough, that might turn out to be the thing to do, I can certainly make a note of it and look at the probability over time. I don't as yet have enough data on the MM side of things, this is something I want to work on. My reason for the initial 20 hard stop is to try and avoid any nasty pops in price around a very volatile time in the market. Sometimes it's not enough I know, but as I mentioned earlier the big pops tend to be news fed so we should have some warning..... due diligence. It's a trade off, excuse the pun, between what...
Hi, looks good stratagy, I am subscribed.
I saw this good EA in FF :http://www.forexfactory.com/showthre...07#post7601307
you can try this Ea
  • #24
  • Jul 28, 2014 10:18am Jul 28, 2014 10:18am
Nice work Quidsey. Subscribed!
That which does not kill us makes us stronger
  • #25
  • Jul 28, 2014 10:57am Jul 28, 2014 10:57am
Quoting newentrader
{quote} Hi, looks good stratagy, I am subscribed. I saw this good EA in FF :http://www.forexfactory.com/showthre...07#post7601307 you can try this Ea
Thx I'll check it out.
  • #26
  • Jul 28, 2014 10:58am Jul 28, 2014 10:58am
Quoting moneymove
Nice work Quidsey. Subscribed!
Hi moneymove welcome, nice stats mate
  • #27
  • Jul 28, 2014 3:44pm Jul 28, 2014 3:44pm
Nice find Quidsey.

It might be kind of fun to find an average move in the wrong direction, (say 1-3 pips) and hold your entry until then. This ciold make your SL smaller and targets bigger.
  • #28
  • Jul 28, 2014 5:06pm Jul 28, 2014 5:06pm
Quoting diamonddbw
Nice find Quidsey. It might be kind of fun to find an average move in the wrong direction, (say 1-3 pips) and hold your entry until then. This ciold make your SL smaller and targets bigger.
Hi diamond, are you saying average the drawdown to then adjust the entry on the 8am candle by that amount?.
  • #29
  • Jul 28, 2014 5:06pm Jul 28, 2014 5:06pm
Attached Image (click to enlarge)
Click to Enlarge Name: EU LON 28072014 EOD.png Size: 38 KB
  • #30
  • Jul 28, 2014 9:34pm Jul 28, 2014 9:34pm
Quidsey.. nice system you have going on here. Nice and simple.
It also may even be a good filter for another method the Simpe as Possible 00 Trading method by Udine.
  • #31
  • Jul 29, 2014 2:09am Jul 29, 2014 2:09am
This might be of interest
Attached File(s)
File Type: pdf market-cycle-times.pdf   108 KB | 1,489 downloads
.
  • #32
  • Jul 29, 2014 2:18am Jul 29, 2014 2:18am
tried to Long just now at open at 1.3431
  • #33
  • Jul 29, 2014 2:45am Jul 29, 2014 2:45am
Quoting Anusragger
This might be of interest{image}.
Thx I'll check that out later.
  • #34
  • Jul 29, 2014 2:53am Jul 29, 2014 2:53am
Quoting Patmontes
Quidsey.. nice system you have going on here. Nice and simple. It also may even be a good filter for another method the Simpe as Possible 00 Trading method by Udine.
Hi Pat, I'll have another look at that thread, didn't get it first time round.

I haven't placed a trade this morning which is boring, but there's just no real direction going on at the moment. If price had pushed lower making a break for it I'd have been happy to fade 3420 previous lows.

Hope it breaks that D pivot and heads for R1 for you Pat, for what it's worth if I'd have placed a trade it would have been long too.
  • #35
  • Jul 29, 2014 3:13am Jul 29, 2014 3:13am
Quoting Quidsey
{quote} Hi Pat, I'll have another look at that thread, didn't get it first time round. I haven't placed a trade this morning which is boring, but there's just no real direction going on at the moment. If price had pushed lower making a break for it I'd have been happy to fade 3420 previous lows. Hope it breaks that D pivot and heads for R1 for you Pat, for what it's worth if I'd have placed a trade it would have been long too.
I think I will close the long for quick almost 10pip profit at 1.3440. I opened with 0.5 lot only not bad for a short period of work haha (If ever it reaches that area. Highest so far is 1.3438)
  • #36
  • Jul 29, 2014 3:51am Jul 29, 2014 3:51am
......it's through the DP now, next stop yesterdays high maybe..

Attached Image (click to enlarge)
Click to Enlarge Name: EU LON 29072014.png Size: 41 KB
  • #37
  • Jul 29, 2014 4:40am Jul 29, 2014 4:40am
I closed already @ 1.3441 already.. gained round 4%...
good system! will want to test this daily for quick 5 to 10pips
  • #38
  • Jul 29, 2014 5:37am Jul 29, 2014 5:37am
Nice one.

In retrospect I should have taken this, not just because it went where it should have but I had my normal conservative "real money" trading head on, I need to try and take every trade.

Been a long time since I traded demo.

This was a legitimate trade to take within the strategy as it stands.

Attached Image (click to enlarge)
Click to Enlarge Name: EU LON 29072014 pt2.png Size: 29 KB
  • #39
  • Jul 29, 2014 5:53am Jul 29, 2014 5:53am
Quoting Anusragger
This might be of interest{image}.
It would be nice to know a bit more about how, whoever wrote this came to his/her conclusions, what market? over how long a period? and what in the analysis is considered a reversal?.

I'm not being cynical, the cycles seem to match up pretty much with my own (untested) ideas of intraday movement, hence this thread, but I often find that a lot more wisdom can be gained if the data is presented with the conclusion.

What are the probabilities associated with a 3amNY reversal? I hope there high

Attached Image (click to enlarge)
Click to Enlarge Name: marketcycle.png Size: 22 KB
  • #40
  • Jul 29, 2014 6:06am Jul 29, 2014 6:06am
Quoting Quidsey
Nice one. In retrospect I should have taken this, not just because it went where it should have but I had my normal conservative "real money" trading head on, I need to try and take every trade. Been a long time since I traded demo. This was a legitimate trade to take within the strategy as it stands. {image}

The previous day based on your screenshot, a short on the first candle at London Open would have bagged a sure 5pip win. And with the right risk% on the trade, it would have been substantial profit for the day. Then trade again the following day. Fast in, Fast out, Green Pips daily.
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