• Home
  • Forums
  • Trades
  • News
  • Calendar
  • Market
  • Brokers
  • Login
  • Join
  • User/Email: Password:
  • 9:47pm
Menu
  • Forums
  • Trades
  • News
  • Calendar
  • Market
  • Brokers
  • Login
  • Join
  • 9:47pm
Sister Sites
  • Metals Mine
  • Energy EXCH
  • Crypto Craft

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

8X34 EMA X-Over with London open and 9:30 EST open for indices 57 replies

[LOS] London Open Strategy 15 replies

London Open Breakout Strategy for GBPUSD 18 replies

London open to Sydney open 23 replies

London Calling . . . Various strategies focusing on London Open 58 replies

  • Trading Systems
  • /
  • Reply to Thread
  • Subscribe
  • 121
Attachments: London Open Strategy
Exit Attachments
Tags: London Open Strategy
Cancel

London Open Strategy

  • Last Post
  •  
  • 1 45Page 678 18
  • 1 5Page 67 18
  •  
  • Post #101
  • Quote
  • Aug 4, 2014 6:07am Aug 4, 2014 6:07am
  •  Nednones
  • | Joined May 2014 | Status: Member | 97 Posts
Tried today to trade the EURUSD, had good result but was away to close at the Donchanian Peak so I've left the trade open. Couldn't set my stop loss/trade point because of an EA in the background moving and placing my SL/TP so that's why I left it. Good result this morning from indications.

Also attached a 9 period RSI with levels set between 40/60 for indication as to when is good to buy and sell when looking for setting of trade point perhaps.
Attached Image (click to enlarge)
Click to Enlarge

Name: EURUSD_04_08_14.png
Size: 114 KB
 
 
  • Post #102
  • Quote
  • Aug 4, 2014 6:12am Aug 4, 2014 6:12am
  •  orid
  • | Joined Jun 2013 | Status: Member | 608 Posts
not very good at this hope it makes some sense
Attached Image (click to enlarge)
Click to Enlarge

Name: samoleus.jpg
Size: 302 KB
 
 
  • Post #103
  • Quote
  • Aug 4, 2014 6:35am Aug 4, 2014 6:35am
  •  Quidsey
  • Joined Dec 2009 | Status: No longer here | 815 Posts
Quoting dashisiong
Disliked
I think i got it right today. About 10 pips profit. I didnt trade live yet. Great start!!! {image}
Ignored
That all looks good dash.
 
 
  • Post #104
  • Quote
  • Aug 4, 2014 6:45am Aug 4, 2014 6:45am
  •  Quidsey
  • Joined Dec 2009 | Status: No longer here | 815 Posts
Quoting orid
Disliked
not very good at this hope it makes some sense{image}
Ignored
....ah ok a couple of months, cool.

Yeah ok, that's what I thought. What's the advantage? looking at other examples you seem to be getting in later at a worst price
 
 
  • Post #105
  • Quote
  • Aug 4, 2014 9:36am Aug 4, 2014 9:36am
  •  Patmontes
  • | Joined Feb 2014 | Status: Member | 395 Posts
Entered a bit late today 1.3422 exited 5 pips profit with 1 lot... good enough for me for the day
 
 
  • Post #106
  • Quote
  • Aug 4, 2014 9:36am Aug 4, 2014 9:36am
  •  Nednones
  • | Joined May 2014 | Status: Member | 97 Posts
What do you guys think, potential for a 6 pip profit based on the opening of the first green candle New York Opening???
Attached Image (click to enlarge)
Click to Enlarge

Name: EURUSD_04_08_14 US OPEN.png
Size: 43 KB
 
 
  • Post #107
  • Quote
  • Aug 4, 2014 10:53am Aug 4, 2014 10:53am
  •  Quidsey
  • Joined Dec 2009 | Status: No longer here | 815 Posts
Quoting Nednones
Disliked
What do you guys think, potential for a 6 pip profit based on the opening of the first green candle New York Opening??? {image}
Ignored
Test it Ned, I've got my hands full with London

I'm having a look to see if correlation of the USDCHF can help.

The two pairs are highly negatively correlated in the -90's, so if for example the EURO set-up to buy is unclear or we've got doubts and there is a clear set-up on the USDCHF to short then this could potentially confirm our buy trade on the EURO, and obviously vice versa.

This pair might be worth looking at anyway as a comparison in the morning, smaller ADR though.
 
 
  • Post #108
  • Quote
  • Aug 4, 2014 12:54pm Aug 4, 2014 12:54pm
  •  dashisiong
  • | Joined May 2007 | Status: Member | 185 Posts
Quoting Quidsey
Disliked
{quote} Test it Ned, I've got my hands full with London I'm having a look to see if correlation of the USDCHF can help. The two pairs are highly negatively correlated in the -90's, so if for example the EURO set-up to buy is unclear or we've got doubts and there is a clear set-up on the USDCHF to short then this could potentially confirm our buy trade on the EURO, and obviously vice versa. This pair might be worth looking at anyway as a comparison in the morning, smaller ADR though.
Ignored

Great idea Quidsey, why i never think of that....
Patience, let the market come to you!
 
 
  • Post #109
  • Quote
  • Aug 4, 2014 2:56pm Aug 4, 2014 2:56pm
  •  SmoothTrader
  • Joined Oct 2008 | Status: Perpetual Student of the Charts | 947 Posts
Quoting Quidsey
Disliked
{quote} This pair might be worth looking at anyway as a comparison in the morning, smaller ADR though.
Ignored
The ADR is important and can help to refine both the SL and TP levels. I use the ADR to determine my areas where I will take partial profits. I tend to take a small partial profit at about 10% of the ADR (just to cover all commissions, spread, and swaps), and then again at about 25% of the ADR. From that point on, I let the market dictate where I will get out of my final position, via Trailing Stops.

I also protect my position by moving my original stop to BE + 2 pips between when the market has moved to 20 to 25% of the ADR.

GREEN pips to all.
 
 
  • Post #110
  • Quote
  • Aug 4, 2014 6:13pm Aug 4, 2014 6:13pm
  •  Quidsey
  • Joined Dec 2009 | Status: No longer here | 815 Posts
Quoting SmoothTrader
Disliked
{quote} The ADR is important and can help to refine both the SL and TP levels. I use the ADR to determine my areas where I will take partial profits. I tend to take a small partial profit at about 10% of the ADR (just to cover all commissions, spread, and swaps), and then again at about 25% of the ADR. From that point on, I let the market dictate where I will get out of my final position, via Trailing Stops. I also protect my position by moving my original stop to BE + 2 pips between when the market has moved to 20 to 25% of the ADR. GREEN pips...
Ignored
Yes I like ADR, I'm going to add that to the template I think.

So with EU now at say 40 ADR you'd move to BE +2 after it had gone 10pips, that seems tight to me but I guess that's scalping.

How many of these BE's go on to bigger things?

I'm not a BE fan normally but I'm thinking more and more partial profits is the way to go. 3 lots, 2 in one order TP 10pips and the 3rd in another order to see how far we can run it.

Btw, is it the same percentages you use for the SL?
 
 
  • Post #111
  • Quote
  • Aug 4, 2014 8:29pm Aug 4, 2014 8:29pm
  •  SmoothTrader
  • Joined Oct 2008 | Status: Perpetual Student of the Charts | 947 Posts
Quoting Quidsey
Disliked
{quote} Yes I like ADR, I'm going to add that to the template I think. So with EU now at say 40 ADR you'd move to BE +2 after it had gone 10pips, that seems tight to me but I guess that's scalping. How many of these BE's go on to bigger things? I'm not a BE fan normally but I'm thinking more and more partial profits is the way to go. 3 lots, 2 in one order TP 10pips and the 3rd in another order to see how far we can run it. Btw, is it the same percentages you use for the SL?
Ignored
As my profile states, I am a reformed pit trader. I was always taught that you learn how to take a loss, manage a loss, minimize a loss because the profits will take care of themselves. I also learned early on never to worry about taking a small partial profit or moving a stop loss to BE too soon. If they get hit they have fulfilled the number 1 rule: PRESERVE THY CAPITAL!!!! It's always better to be patient and have capital to trade another day, than to watch your account dwindle or get destroyed. With this in mind, I have never had a losing month in 37 years of trading. (That includes all of my accounts as a whole. I have had small down months in stocks, but my options and FX accounts more than made up for them.)

I do tend to set my major TP and SL levels the same. This gives me a RR of 1:1, but sometimes my BE SL is hit after my small TP and this reduces the RR level, but I have some current trades that are going on two years old and have grown into long term positions with trailing SL levels of 700 pips and floating profits of 2500 + pips. They may only be 5 or 10% of the original position size from when they were put on, but they contribute substantially to my equity.
 
 
  • Post #112
  • Quote
  • Aug 5, 2014 3:21am Aug 5, 2014 3:21am
  •  Quidsey
  • Joined Dec 2009 | Status: No longer here | 815 Posts
Anyone in this this morning? I'm not.

I was looking to buy down @3415

Now it just looks a mess, I'm on the bench.
 
 
  • Post #113
  • Quote
  • Aug 5, 2014 3:28am Aug 5, 2014 3:28am
  •  Quidsey
  • Joined Dec 2009 | Status: No longer here | 815 Posts
Quoting SmoothTrader
Disliked
{quote} As my profile states, I am a reformed pit trader. I was always taught that you learn how to take a loss, manage a loss, minimize a loss because the profits will take care of themselves. I also learned early on never to worry about taking a small partial profit or moving a stop loss to BE too soon. If they get hit they have fulfilled the number 1 rule: PRESERVE THY CAPITAL!!!! It's always better to be patient and have capital to trade another day, than to watch your account dwindle or get destroyed. With this in mind, I have never had a losing...
Ignored
Hi ST, thanks for the reply that's interesting stuff, and those are some impressive stats.
 
 
  • Post #114
  • Quote
  • Aug 5, 2014 3:28am Aug 5, 2014 3:28am
  •  Go5
  • Joined Jun 2014 | Status: Invisible | 1,393 Posts
Quoting Quidsey
Disliked
Anyone in this this morning? I'm not. I was looking to buy down @3415 Now it just looks a mess, I'm on the bench.
Ignored
Yes, I got in with TP at W.Pivot - might get out earlier....
 
 
  • Post #115
  • Quote
  • Aug 5, 2014 3:38am Aug 5, 2014 3:38am
  •  Quidsey
  • Joined Dec 2009 | Status: No longer here | 815 Posts
Quoting Go5
Disliked
{quote} Yes, I got in with TP at W.Pivot - might get out earlier....
Ignored
Well done mate, yes if it gets below those previous swing lows you should be ok.
 
 
  • Post #116
  • Quote
  • Aug 5, 2014 3:45am Aug 5, 2014 3:45am
  •  Eamonn
  • | Joined Feb 2008 | Status: Member | 126 Posts
Woops as I write just hit tp

Cheers

Eamonn.
 
 
  • Post #117
  • Quote
  • Aug 5, 2014 3:51am Aug 5, 2014 3:51am
  •  DerBerliner
  • | Joined Jan 2011 | Status: Member | 822 Posts
I was in @3418 - got it ! Hit the TP (=12 pips) !
Btw used it for the EURJPY - made some pips too !
That's it for today.
 
 
  • Post #118
  • Quote
  • Aug 5, 2014 3:53am Aug 5, 2014 3:53am
  •  jeetvirk
  • | Joined Feb 2013 | Status: Member | 818 Posts
As per rules i took short with the help of laguerre above .80 with 10 pips TP.
Attached Image (click to enlarge)
Click to Enlarge

Name: EURUSDM5 open.png
Size: 52 KB
 
 
  • Post #119
  • Quote
  • Aug 5, 2014 3:55am Aug 5, 2014 3:55am
  •  orid
  • | Joined Jun 2013 | Status: Member | 608 Posts
yes sold here tp hit +12
Orid
 
 
  • Post #120
  • Quote
  • Aug 5, 2014 3:58am Aug 5, 2014 3:58am
  •  likica
  • Joined May 2012 | Status: Happy trading n enjoy green pips | 5,316 Posts
thanks for the method. Got my delivery from EU
Attached Image (click to enlarge)
Click to Enlarge

Name: EU LO SELL TUE 5.8.14.png
Size: 65 KB
Appreciation is the key to wealth and happiness
 
 
  • Trading Systems
  • /
  • London Open Strategy
  • Reply to Thread
    • 1 45Page 678 18
    • 1 5Page 67 18
0 traders viewing now
  • More
Top of Page
  • Facebook
  • Twitter
About FF
  • Mission
  • Products
  • User Guide
  • Media Kit
  • Blog
  • Contact
FF Products
  • Forums
  • Trades
  • Calendar
  • News
  • Market
  • Brokers
  • Trade Explorer
FF Website
  • Homepage
  • Search
  • Members
  • Report a Bug
Follow FF
  • Facebook
  • Twitter

FF Sister Sites:

  • Metals Mine
  • Energy EXCH
  • Crypto Craft

Forex Factory® is a brand of Fair Economy, Inc.

Terms of Service / ©2023