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Phantom5000

  • #61
  • May 25, 2015 1:15am May 25, 2015 1:15am
Going to play it smart and close at break even and try again on the New York Session.
Mondays & Holidays can be rough in the market.
  • #62
  • May 25, 2015 1:25am May 25, 2015 1:25am
Thanks Phantom5000

Fibo is now ok!
  • #63
  • May 26, 2015 12:58am May 26, 2015 12:58am
Why should we let the broker get all the pips.



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  • #64
  • May 26, 2015 3:05am May 26, 2015 3:05am
Thank you for the help "Phantom500"!
One more question, do you cancel orders that has not been triggered from London session, when you put in the orders for New York session?
  • #65
  • May 26, 2015 3:20am May 26, 2015 3:20am
Hi Sir, ........... and sorry for my English.
First I want to thank you for sharing the idea. It's good.

I think I can develop later this week an automatic system for this method. Not sure I'll be able to develop it. But I try.
Also I do not know if my broker will accept automatically stop loss so tight.

Unfortunately in the my real account I've spread that varies from 3 to 4 pips on the major cross. Up to 7 pips on Eur Aud.
So with the rules of stop loss that you have indicated, and with manually working I've several stop loss.

I would like to put a filter on this system. It can not operate if an extension of the minimum and maximum in the first 11 hours of the London session is less of 60/70 pips. If it less it don't work.

Moreover my levels that I use in manually are the following:

100.0 Max 11 hours of the day before
0.0 Min 11 hours the day before
50.0 level that I put at open London on day after
61.8 Buy in stop
38.2 in Sell stop
35.0 Stop Loss Buy
65.0 Stop Loss Sell
87.4 Target price Buy
12.6 Target price Sell

I would exclude the target price 2 or put it higher than 100.0 ( Example 120.0) and less than 0.0 (example -20.0)
What do you think about it ???

I also think he could make it work automatically in two sessions in London and New York. I hope. That would be great.

I will inform you when will be ready.

Best regards.
  • #66
  • May 26, 2015 5:25am May 26, 2015 5:25am
Quoting nikki
Thank you for the help "Phantom500"! One more question, do you cancel orders that has not been triggered from London session, when you put in the orders for New York session?

Yes I cancel London Orders if they have not been triggered., and start again with the new york sessions. Although I have left the pending orders in the past and watch them hit both buy profit targets and turn around and hit both sell profit targets. Depends on what I feel the market may do.
  • #67
  • May 26, 2015 5:39am May 26, 2015 5:39am
Quoting jonnylorenz
Hi Sir, ........... and sorry for my English. First I want to thank you for sharing the idea. It's good. I think I can develop later this week an automatic system for this method. Not sure I'll be able to develop it. But I try. Also I do not know if my broker will accept automatically stop loss so tight. Unfortunately in the my real account I've spread that varies from 3 to 4 pips on the major cross. Up to 7 pips on Eur Aud. So with the rules of stop loss that you have indicated, and with manually working I've several stop loss. I would like to...

As you can see on mu EURAUD photo I have used the high and the low of the entire 23 hours and it works brilliantly too. This will give a larger gap in the stoploss. If i feel the stoploss is too close to the BPO/SPO. In this case I would put my stoploss targets on the BPO/SPO. I do this when the previous session has not expanded leaving me much room for stoploss. My broker has a 10-12 pip spread on GBPAUD, so I do this a lot.

The reason for the TP2 targets is they almost always hit 9 times out of 10. Although the price has been known to sky rocket pass TP2. Anything would be nice for an Automated System to lessen the inputting at market opening.

Another note is I always set my trailingstop on the 2nd order that will hit TP2. I know it will always break even at the least if it does not hit its TP2. I determine this by the points between BPO to BTP1 and apply to both buy/stop orders

So you see I place two separate orders for both pending buys and pending sells. Hope this helps.
  • #68
  • May 26, 2015 5:49am May 26, 2015 5:49am
WOW that was fast. TP2 hit!



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Attached Image (click to enlarge)
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  • #69
  • Edited 6:07am May 26, 2015 5:57am | Edited 6:07am
NOTE: Keep in mind that the previous sessions high and low act as support and resistance for today's sessions. Consider that if you choose to let it ride.


NOTE: about 5 minutes prior to market session opening I will place 2 pending buy stops and 2 pending sell stops on the chart so that I can can quickly drag them to the FIBO BPO/SPO lines. This helps when the market jumps fast. Then I can leisurely place the TP1, TP2, SSL, BSL after the market has opened.
Today's New York is a great reason why I have been hoping for an automated system.
  • #70
  • May 26, 2015 6:21am May 26, 2015 6:21am
When do you start counting New York session?
It is still 10 min till the open....
  • #71
  • May 26, 2015 6:48am May 26, 2015 6:48am
Quoting nikki
When do you start counting New York session? It is still 10 min till the open....
New York opened about 1.5 hours ago

http://www.forexmarkethours.com/

http://www.forexmarkethours.com/fore...itor_v2.12.exe
  • #72
  • May 26, 2015 7:02am May 26, 2015 7:02am
Sorry, was thinking of the stock Exchange !
  • #73
  • May 27, 2015 1:13am May 27, 2015 1:13am
indicators are repainting on real chart

its too bad
  • #74
  • May 27, 2015 6:18am May 27, 2015 6:18am
I am not using HGI method if that is what you are refering too.

I have been testing other methods with this broker I am with. My system seems more consistent with a clean chart.
  • #75
  • May 27, 2015 6:42am May 27, 2015 6:42am
Quoting jonnylorenz
Hi Sir, ........... and sorry for my English. First I want to thank you for sharing the idea. It's good. I think I can develop later this week an automatic system for this method. Not sure I'll be able to develop it. But I try. Also I do not know if my broker will accept automatically stop loss so tight. Unfortunately in the my real account I've spread that varies from 3 to 4 pips on the major cross. Up to 7 pips on Eur Aud. So with the rules of stop loss that you have indicated, and with manually working I've several stop loss. I would like to...

I have used one of my brokers that accept US Clients that allows hedging and I tried out your stoplosses (Loss Buy, Loss Sell). It hedged against the losing orders and then shut down opposite orders. This worked out really well. I am in the USA, and as you know these US brokers do not allow hedging due to the FIFO rule so they will have to have the stoploss (BSL, SSL) hit before opening orders (BPO, SPO) in the opposite direction. The system will have to have a FIFO rule too.
I think we are onto something great!

I have these old FIBO scripts in my storage folder. Maybe they can help give you ideas on making this system automatic.
Attached File(s)
File Type: zip OpenFibonacciOrder.mq4.zip   2 KB | 531 downloads

Attached File(s)
File Type: mq4 fibs_2.mq4   10 KB | 527 downloads
  • #76
  • May 27, 2015 9:11am May 27, 2015 9:11am
Thanks for posting Fibo Phantom: I too similar.
In any case I'm working on automated system that will surely reflect your rules.
This system provides the maximum and minimum of the first 11 hours or less or up to 24 hours at choice. You can set the starting open London or NY.
It's 'a very complicated job, but think I can with the help of other programmers. Maybe next week will be ready.
In any case, we must find the right balance with the stop loss.
Today I tried with 3 cross in real account and had 3 wins and 2 losses, but the total loss was 12 pips.
I think you have to put the stop loss above or below the 61.8 or 38.2.
This is my email if you want to share the setting. [email protected]
Best regards
  • #77
  • Edited 12:35pm May 27, 2015 12:01pm | Edited 12:35pm
I appreciate all the work you and your team are doing.
NOTE: This was with your suggested StopLoss at FIBO 65 & 35

My wins/loses:

London Open:
AUCHF =
2 win STP1 & Trailing STP2
EURAUD=
2 win BTP1 & Trailing BTP2
NZDUSD=
2 win STP1 & STP2
EURJPY=
2 win BTP1 & Trailing BTP2
EURGBP=
4 loss BSL & SSL
GBPUSD=
2 loss BSL
2 win STP1 & STP2

Today's New York market open was rough.

New York Open:
USDCHF=
2 loss SSL
2 win BTP1 & Trail BTP2
USDCAD=
4 loss BSL & SSL
NZDUSD=
2 loss SSL
2 win TP1 & BE(TP2)
EURJPY=
2 loss BSL
2 win STP1 & STP2
EURGBP=
2 win STP1 & BE(STP2
2 loss BSL
EURAUD=
2 win STP1 & Trail STP2
2 win BTP1 & BE(BTP2)
USDJPY=
2 loss SSL
2 win BTP1 & BE(BTP2)
EURUSD=
2 win STP1 & BE(STP2)
2 loss BSL
  • #78
  • Edited 1:02pm May 27, 2015 12:15pm | Edited 1:02pm
Quoting jonnylorenz
Thanks for posting Fibo Phantom: I too similar. In any case I'm working on automated system that will surely reflect your rules. This system provides the maximum and minimum of the first 11 hours or less or up to 24 hours at choice. You can set the starting open London or NY. It's 'a very complicated job, but think I can with the help of other programmers. Maybe next week will be ready. In any case, we must find the right balance with the stop loss. Today I tried with 3 cross in real account and had 3 wins and 2 losses, but the total loss was 12...
When I place x2 orders and the first order hits TP1 I manually move the 2nd order a few pips past BE(Break Even) in case my trailing does not start on TP2 order.

I do this since the 2nd order does not always trigger the trailing set (trailing is set the number of points from BPO to BTP1 minus the spread on each pair).
I don't place trailing on first TP1 order.
Hope this makes sense.
  • #79
  • May 27, 2015 4:41pm May 27, 2015 4:41pm
Note: Here is an idea of the pairs I trade and what session.
This not set in stone.

Attached Image
  • #80
  • Edited 6:59pm May 27, 2015 6:12pm | Edited 6:59pm
Tokyo Session:

AUDJPY
BTP1
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BTP2
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Click to Enlarge Name: AUDJPY BTP2 Hit.M15.png Size: 29 KB

STP1 & STP2
AUD: Private Capital Expenditure q/q Impact High
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AUDUSD
BTP1
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD BTP1 Hit.M15.png Size: 29 KB

BTP2 Trailing Stop
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD Trailing BTP2 Hit.M15.png Size: 26 KB

STP1 & STP2
AUD: Private Capital Expenditure q/q Impact High
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD STP1 STP2 Hit.M15.png Size: 26 KB
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