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London close trading system for currencies

  • #521
  • Jul 19, 2016 3:28am Jul 19, 2016 3:28am
@Isabella D, ghostbiker : got it! Thanks.
  • #522
  • Jul 19, 2016 3:41am Jul 19, 2016 3:41am
some experiences (not the rules) for better learning how EA works
Here I uses V1.4 but starting time adapted

Create a basket, here GBP via profil and try it out. If EA starts (starting time GMT xx:xx) chart will be coloured
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Baske.JPG Size: 217 KB
Click to Enlarge Name: Experience.JPG Size: 37 KB
  • #523
  • Jul 19, 2016 3:49am Jul 19, 2016 3:49am
Quoting ghostbiker
@Isabella D: correct for the EA and the start time 16:00 GMT is correct for manually trading
Ghostbiker LONDON CLOSE is at 15 GMT and not at 16 GMT. Why do you trade at 16 GMT?
  • #524
  • Jul 19, 2016 3:57am Jul 19, 2016 3:57am
http://www.timeanddate.com/time/united-kingdom-bst.html

@Pierre
  • #525
  • Jul 19, 2016 3:58am Jul 19, 2016 3:58am
on my clock is LO close 16:00 GMT if you have another clock is OK you can trade on every time you want
  • #526
  • Jul 19, 2016 4:01am Jul 19, 2016 4:01am
Quoting Freezer
{quote} - Here it is rule from GB, to make it simple: CANDLE OPENING AND CLOSING - let say you have candle 11 to start london opening - then candle 18:45 (@TF M15) for london closing OPEN ORDER - start open order (buy/sell as fibo conditions) at 23.6 fibo lines, (set SL at 0.0 and TP at 38.2), (before / after breakthrough) {max breakthrough 5 pips} up to 5 pips leave that pair - start open order (buy/sell as fibo conditions) at 76.4 fibo lines, (set SL at 100 and TP at 61.8), (before / after breakthrough) {max breakthrough 5 pips} up to 5 pips leave...

​I don't think you read the thread, you should. You didn't get how the market orders work, the 23.6/76.4 are the targets not the starting point of the MO.

@Ghostbiker: I think you should write a great warning on the first post. You set rules that you don't follow because the truth is that you have market knowledge that help you take the right decision most of the times. Following the rules of the first post will make many traders fail. When you have such a bad R:R ratio it's crucial not to make mistakes because they will cost you a lot.
  • #527
  • Jul 19, 2016 4:17am Jul 19, 2016 4:17am
Quoting Freezer
{quote} Thanks Isabella. 1 question, is this EA work when i turn of the mt4 ??
Open orders and pending (which exsist in your account) orders are running during PC is off.
As far as I know new order to open is only possible when PC is on.
  • #528
  • Jul 19, 2016 4:28am Jul 19, 2016 4:28am
i didnt understand ... what u are asking .... fibo is very small means it won't move right? or wrong ? i am getting this time wise confuse.. gmt +3 means what ? broker time means what ? london close is reference here.. so after close take trades or once london close means trade close? i am confused a lot with this time wise... not with fibo wise
if you can means help me to better understand.. i am living in india now IST 14.58hrs

Quoting ghostbiker
@ramzam: what is your intention what is it?????????????? This ist the new day and the Fibo is very small Crude OIL don't move !!!!!!!!!!!!!!!!!!!!!!!!!! will you trade London close and Crude Oil after midnight ?? I mean this System is not for you and to heavy @dominick1982: my intention is start with 0.01 Lot per 1000 currencie or start with a Cent account @Isabella D: nice work from the EA AND you
Success is a Journey Not a Destination....... kind regards ramzam
  • #529
  • Jul 19, 2016 4:32am Jul 19, 2016 4:32am
@L.m:

- I've not a bad R /R - my R/R is OK 1:1.5 1:2 1:3 is OK for me

R/R is not a problem by the trading, the entry and exit is the problem and the red Pips

- test it on Demo first

- your MM must OK, not so high Lots max. 0.01 Lot per 1000 currencie

- if had any a Problem with this System or the R/R, don't trade with it
  • #530
  • Jul 19, 2016 4:34am Jul 19, 2016 4:34am
when seeing the pic itself i understand that green area is buy and sell is red. but confusion is here in the pic
plz try to make me clear
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 19 KB
Success is a Journey Not a Destination....... kind regards ramzam
  • #531
  • Jul 19, 2016 4:42am Jul 19, 2016 4:42am
ramzam: excuse me I don't understand you, I can't answer more

this System is not the best for you, it is to difficult
  • #532
  • Jul 19, 2016 4:44am Jul 19, 2016 4:44am
Quoting ramzam
i didnt understand ... what u are asking .... fibo is very small means it won't move right? or wrong ? i am getting this time wise confuse.. gmt +3 means what ? broker time means what ? london close is reference here.. so after close take trades or once london close means trade close? i am confused a lot with this time wise... not with fibo wise if you can means help me to better understand.. i am living in india now IST 14.58hrs {quote}
@ramzam
at first you have to learn the basics.
http://www.babypips.com/school/presc...-sessions.html

If done (after some months, years) come back to trade EA. We all had to do this and you will get it, I am sure
  • #533
  • Jul 19, 2016 4:54am Jul 19, 2016 4:54am
Quoting ghostbiker
@L.m: - I've not a bad R /R - my R/R is OK 1:1.5 1:2 1:3 is OK for me R/R is not a problem by the trading, the entry and exit is the problem and the red Pips - test it on Demo first - your MM must OK, not so high Lots max. 0.01 Lot per 1000 currencie - if had any a Problem with this System or the R/R, don't trade with it

​I'm not talking about me GB, I know enough PA to take what I find useful in your system and make some pips. And I thank you for giving me another tool.
If your aim is to help other traders you should be more cautious.

Your R:R is that high because you don't follow the rules (rule #5 is just an example). That's just my opinion, but there are too many newbies here not to say what I think.
  • #534
  • Jul 19, 2016 5:04am Jul 19, 2016 5:04am
Quoting Isabella_D
{quote} Open orders and pending (which exsist in your account) orders are running during PC is off. As far as I know new order to open is only possible when PC is on.
and as a note: so far as i know, the TP and SL also working only if the PC is running! Correct me if i am wrong
(.)(.) think first ...
  • #535
  • Jul 19, 2016 5:07am Jul 19, 2016 5:07am
Quoting Freezer
{quote} Thanks Isabella. 1 question, is this EA work when i turn of the mt4 ??
No, and by running orders so far as i know, the TP and SL also working only if the PC is running!
(.)(.) think first ...
  • #536
  • Jul 19, 2016 5:07am Jul 19, 2016 5:07am
it is ok. thanks

Quoting ghostbiker
ramzam: excuse me I don't understand you, I can't answer more this System is not the best for you, it is to difficult
Success is a Journey Not a Destination....... kind regards ramzam
  • #537
  • Jul 19, 2016 5:08am Jul 19, 2016 5:08am
really thanks isabella .. will go throgh the page.......
Quoting Isabella_D
{quote} @ramzam at first you have to learn the basics. http://www.babypips.com/school/presc...-sessions.html If done (after some months, years) come back to trade EA. We all had to do this and you will get it, I am sure
Success is a Journey Not a Destination....... kind regards ramzam
  • #538
  • Jul 19, 2016 5:09am Jul 19, 2016 5:09am
i understand the system very well .. where to take buy and sell.....
but the difficult is the time what are all you spoke here..


is this right? in this candle only all are taking trades -- is right ? or not ?
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 21 KB
Success is a Journey Not a Destination....... kind regards ramzam
  • #539
  • Edited 5:39am Jul 19, 2016 5:26am | Edited 5:39am
Quoting Isabella_D
some experiences (not the rules) for better learning how EA works Here I uses V1.4 but starting time adapted Create a basket, here GBP via profil and try it out. If EA starts (starting time GMT xx:xx) chart will be coloured {image} {image}
Hi Isabella: I will be very thankfull if you please help me with the follow; I Installed the latest version of the EA 1.4 in every 28 pair charts and yestarday about 18 00 oclock CET, its sent 2 order and after about 15 minutes the EA closed for every chart it shows, Trading=false.What can be for wrong? and how to build a basket in the right way?
here is a pic of a chart as example
thanks
Attached Image (click to enlarge)
Click to Enlarge Name: NZDJPYM15.png Size: 69 KB
nesta
  • #540
  • Jul 19, 2016 5:31am Jul 19, 2016 5:31am
Quoting ramzam
i understand the system very well .. where to take buy and sell..... but the difficult is the time what are all you spoke here.. is this right? in this candle only all are taking trades -- is right ? or not ? {image}
Ramzam, forget about GMT time.
Take London time, it is 11:30 right now. My server time is 13:30, that means my server time is London +2.
London closes at 17:00, I add 2 hours and I get 19:00. That will be my server time when London closes, and it's when I'll start looking at the chart for this system
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