Tokyo/London/New York opening strategy

I have been trading this the last few weeks as I was looking for a strategy I could trade everyday around the same time to avoid overtrading. I have seen this strategy posted back in 2008.
I'm looking to revive this strategy on this forum as it can be very profitable riding the trend of the day in these major financial city's Tokyo/London and Newyork
When the big dog traders sit down to trade around 9am of there opening you see a huge change in volatility as i'm sure your aware off if you have ever traded these times.

I take the last 8 hours on the 15 min chart and draw the highs and lows of the Tokyo session and once the price breaks these this is my entry.

I use (GBP/USD EUR/USD) for LONDON AND NY OPEN AND USD/JPY FOR TOKYO SESSION

I'm happy to improve the rules and fundamentals to make this strategy more predictable so any idea's or improvements please feel free to post

Thats enough talking, here is a screen shot of the London and NY open yesterday, as you can see there was a strong trend down occurring on both opens

I like to take a first profit at 30 pips and then I use a trailing stop of 15pips on my second order

You get a perfect trade about 50% of the time others need some babysitting and cut your losses short


I attached an indicator i found, just change the times to what session you want to to trade eg 00:00 - 08:00 Gmt London session

Hopefully the guys that made this are now Millionaires and no longer come on trading forums haha

Great morning trade using the indicator on the Tokyo open for a 60 pip short

Wouldn't this have triggered a buy trade before a sell trade?

No i place the order above or below the lines by about 5 pips
That can happen though but there are losses in every strategy you just have to let your profits run and cut your losses fast

What is your SL based on this strategy?

Well that was the news out of china that caused the spike down. Didnt watch it...but depending on your broker and how fast the price was moving...you may have got your order in somewhere in the spike....but probably not at the price you set....still you would have made something as it stayed down for a while before retracing. Can be risky round news time....but you never know if it will spike big or not. You can expect your stop loss to get slipped as well if it goes against you. That is my experience anyway. Like the idea of these systems....but seems to burn out after a while....not sure why exactly.

the fake breakouts will bleed you to death in the end...

Most fake breakouts go for atleast 20 pips i have a trailing stop of 20 so i break even

if anyone on FF knows a way to identify fake breakout outs, please post it,am all ears ! :]

How many candles you are using to form high/low levels that will show your buy/sell edge?

i think this strategy is similar to 60 minuteman in the commercial section.

Study the market instead of trolling forums

Any fake breakout more than 20 pips and i'm calling it a profitable trade so in that case fake breakouts are awsome

usually 8 hours worth on a 15 minute chart so 32 sometimes just 2 hours before an open

This is deadly correct!

Cizz, are you still trading this strategy? Ive been only watching the NY Session Open (not yet trading it) for the last month or so and it appears as though the breakout strategy would be a profitable strategy.
Not sure about trading on days with US news events, fearing getting stopped out from wide spreads and whipsaw during news times.

Screenshot from this morning:

what would be the indicator settings? can you help im based in Sydney, Australia.