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[LOS] London Open Strategy 25 replies

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London Open Strategy

  • #61
  • Jul 31, 2014 12:43am Jul 31, 2014 12:43am
Quoting littlesmall
{quote} Hi Quidsey, mind me asking where is your TP?
3400, but we're struggling a bit at the moment. Had some + news this morning but EUR CPI coming out later...... DP could be a problem.

ARRGH! nightmare PC problems this morning.
  • #62
  • Jul 31, 2014 2:03am Jul 31, 2014 2:03am
Quoting Quidsey
Strong selling coming into the open, going to buy into it.
In spite of the Asian session ranging in a box of 8 pips?
  • #63
  • Jul 31, 2014 2:22am Jul 31, 2014 2:22am
Hi Quidsey

That was a nice trade this morning.

Martin
  • #64
  • Jul 31, 2014 2:48am Jul 31, 2014 2:48am
Quoting Go5
{quote} In spite of the Asian session ranging in a box of 8 pips?
Yes, just to clarify my ideas about the overnight range.

If the open is in the range and price has been flat on the approach, EMA flat, then I think this should be a 'no trade'. There isn't the direction/momentum so difficult to apply the strategy.

Looking at todays chart for example, yes there was a tight range overnight, and had price opened around 3396 after a flat approach then that's a 'no trade'.

But it broke out early and got some red on the board, that means sellers (breakout) coming in, long stops under the range stopping out, and buyers (faders) coming in.

That's what I wanted to buy into with a long trade at the bell. Some call it catching falling knives.

That's the bet, that it's profitable to fade momentum at the LO. I'm about to start back testing 2013 trade by trade to see what that turns up.

There are other factors to iron out and optimize on the MM side of things of course, but I believe that is an ongoing concern anyway as the market changes.

We're in a low volatility forex world at the moment but that may change.
  • #65
  • Jul 31, 2014 2:50am Jul 31, 2014 2:50am
Quoting ukmartin
Hi Quidsey That was a nice trade this morning. Martin
Cheers Martin,
we're on a good run at the moment, there will be bad days
  • #66
  • Jul 31, 2014 3:09am Jul 31, 2014 3:09am
Quoting Quidsey
{quote} .... 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.
How about this one (all credits to Steve Hopwood)
Attached File(s)
File Type: mq4 Multi purpose trade manager.mq4   106 KB | 445 downloads
:

...and thanks for your reply!
  • #67
  • Jul 31, 2014 4:18am Jul 31, 2014 4:18am
Thanks Quidsey.


Quoting Quidsey
{quote} Hi Ghadeer, this strategy is in it's infancy, at the moment I'm just proposing a premise so that we might possibly make some regular money, so really we're all learning. Simple way to show you the way I look at it is with a chart, this is just my opinion. You may see things differently, that's fine, let's make money. {image} Every trader that trades this is going to see that 15EMA slightly differently, but it's not about the EMA it's about every trader who trades it being consistent in their decisions. Sorry, that sounds like one of those...
  • #68
  • Jul 31, 2014 7:44am Jul 31, 2014 7:44am
Quoting Quidsey
{quote} This isn't a Breakout system. If anything it's more like the 'coin flip' thread. I'm not trying to be different, I just want to test out an idea clearly, show results and come to a conclusion.
hi Quidsey subscribed and good luck with thismethod.
just a thought , might be a good idea to put a pending order above or below the last candle before lo or abve below 1st candle lo save some drawdown and some SL.?
Regards Orid peter
  • #69
  • Jul 31, 2014 9:00am Jul 31, 2014 9:00am
That was a nice move at LO.. I wasnt able to trade busy with work
  • #70
  • Jul 31, 2014 10:58am Jul 31, 2014 10:58am
Quoting Go5
{quote} How about this one (all credits to Steve Hopwood){file}: ...and thanks for your reply!
Cheers I'll check that one out.
  • #71
  • Jul 31, 2014 11:02am Jul 31, 2014 11:02am
Quoting orid
{quote} hi Quidsey subscribed and good luck with thismethod. just a thought , might be a good idea to put a pending order above or below the last candle before lo or abve below 1st candle lo save some drawdown and some SL.? Regards Orid peter
Hi Pete, welcome along.

Yes might be worth a look, I've got PC problems at the moment and want to crack on with the basic back test but thanks for the suggestion.
  • #72
  • Jul 31, 2014 11:04am Jul 31, 2014 11:04am
Quoting Patmontes
That was a nice move at LO.. I wasnt able to trade busy with work
Yes, a counter trend trade so had to be quick.
  • #73
  • Jul 31, 2014 12:27pm Jul 31, 2014 12:27pm
Some LO's from November 2013, interesting to study these pre-open movements and the subsequent reaction.

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  • #74
  • Jul 31, 2014 12:38pm Jul 31, 2014 12:38pm
Thought I'd post a video link to an old BBC documentary, mid eighties, Billion Dollar Day. You probably know it, but apart from being hilarious in places I thought it might give us a little insight and food for thought. It follows the global trading day and of course the interesting bit for us here is the Asian London cross-over.

It's only 30min long, hope you enjoy:
Inserted Video
  • #75
  • Jul 31, 2014 3:29pm Jul 31, 2014 3:29pm
Where are we heading, down to 3292 or up to 3475?

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  • #76
  • Jul 31, 2014 11:52pm Jul 31, 2014 11:52pm
Too range bound today? unless something more dramatic happens in the next 7 min!
  • #77
  • Aug 1, 2014 12:11am Aug 1, 2014 12:11am
Quoting morph
Too range bound today? unless something more dramatic happens in the next 7 min!
Yes that's a pretty messy approach, I was looking for another push down into 3377-79 area before getting long. It's just broke the overnight low but market's lacking players.
  • #78
  • Aug 1, 2014 1:50am Aug 1, 2014 1:50am
i entered long @ 1.3383 and closed at 1.3390. quick pips!
  • #79
  • Aug 1, 2014 2:05am Aug 1, 2014 2:05am
Quoting Patmontes
i entered long @ 1.3383 and closed at 1.3390. quick pips!
So did I, +5 pips, chickend out just before the daily open...
  • #80
  • Aug 1, 2014 3:03am Aug 1, 2014 3:03am
Quoting Quidsey
{quote} ....... I was looking for another push down into 3377-79 area before getting long.
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This is exactly what I wanted off the open.

Anyway all that aside the strategy has produced another winner. Took a bit of heat, but didn't get stopped and price went on to target +10.

Back later.
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