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London close trading system for currencies

  • #881
  • Jul 23, 2016 3:47pm Jul 23, 2016 3:47pm
Hi ghostbiker, do you usually run this system just before red news after London closing?

For instance, during days with FOMC decision or FOMC Minutes released @ 18 GMT?

Thank you
  • #882
  • Jul 23, 2016 4:39pm Jul 23, 2016 4:39pm
Quoting dominick1982
To all the skeptics who criticize without proof: I have been testing the strategy with my 1000 demo account. After 7 trading days, 80% win rate, +241 pips, +EUR 28,96. I made some mistakes with TP and SL in the beginning and missed some trading days, so it could have been better. So far it is looking very promising!!
Could you explain how to set up the time gmt and the EA. Im still confused on how to do that
  • #883
  • Jul 23, 2016 5:27pm Jul 23, 2016 5:27pm
@Albert_Jazz: yes with caution by EUR and USD pairs

@sharingan9: read the thread, the GMT 16:00 time is overall on the world the same, 16:00 is in India, China, Australia, Europe, Asia, Hawaii, Russia, USA
Italia, Spain, Hungaria, Austria, France, Greece, Japan, Polonia, Northern Korea ever for ever the same 16:00
  • #884
  • Jul 23, 2016 5:53pm Jul 23, 2016 5:53pm
Quoting ghostbiker
@Albert_Jazz: yes with caution by EUR and USD pairs @sharingan9: read the thread, the GMT 16:00 time is overall on the world the same, 16:00 is in India, China, Australia, Europe, Asia, Hawaii, Russia, USA Italia, Spain, Hungaria, Austria, France, Greece, Japan, Polonia, Northern Korea ever for ever the same 16:00
Can you explain the logic behind the system Why would price turn around at london close if between 0 and 23.6 or 100 and 76.4? What is the reason?
  • #885
  • Jul 23, 2016 6:07pm Jul 23, 2016 6:07pm
Quoting ghostbiker
@Albert_Jazz: yes with caution by EUR and USD pairs @sharingan9: read the thread, the GMT 16:00 time is overall on the world the same, 16:00 is in India, China, Australia, Europe, Asia, Hawaii, Russia, USA Italia, Spain, Hungaria, Austria, France, Greece, Japan, Polonia, Northern Korea ever for ever the same 16:00

For example, your EA took a Sell Trade for UCAD on July 22 at london close here:
Attached Image (click to enlarge)
Click to Enlarge Name: ucadsell.PNG Size: 433 KB


But when I look at the chart in below it shows the price was between 0 and 23.6. According to the rules we should be taking a Buy order. SO why did the EA Sell???:
Attached Image (click to enlarge)
Click to Enlarge Name: wtf.PNG Size: 79 KB
  • #886
  • Jul 23, 2016 7:13pm Jul 23, 2016 7:13pm
"Durch die ganze GMT "Hin und Her" Diskussion und Fragerei (Knnten inzwischen einen eigenen Thread fllen),

wird es sehr schwierig, dem eigendlichen zu folgen.

Dieses GMT-Thema wird in allen Foren unzhlige Male behandelt und ist durch Googlen leicht zu finden !"


Through the GMT discussion here is it very hard to following the groundthema from Post#1 !

Is here how overall, slow Brain, when then ask everyone or they Google it, when little more brain .


I say many and great Thanks to @swingman and @Ghostbiker for your big work !

Crashbulle
.
  • #887
  • Jul 23, 2016 7:14pm Jul 23, 2016 7:14pm
very big work lol
  • #888
  • Jul 23, 2016 7:22pm Jul 23, 2016 7:22pm
Wow BIG ..
  • #889
  • Jul 23, 2016 8:20pm Jul 23, 2016 8:20pm
can anyone describe to me the logic of this method. I know the new people here are excited to make some demo wins and congratulations but when you put real money on the line its nice to have some logic. Does anyone here have a good reason of why price would reverse at the close of london session?
  • #890
  • Jul 23, 2016 9:08pm Jul 23, 2016 9:08pm
Quoting sharingan9
can anyone describe to me the logic of this method. I know the new people here are excited to make some demo wins and congratulations but when you put real money on the line its nice to have some logic. Does anyone here have a good reason of why price would reverse at the close of london session?

I guess ... It count 72 bars ( m15 time frame ), to get highest and lowest price. So you can image it a support and resistance area, price will break those zone. But it will reject by those zone too.

Also, it have 2 limit order, it's kinda like grid trade ( or you can call it avg price ). but sometimes it will make you lose more XD
  • #891
  • Jul 23, 2016 9:21pm Jul 23, 2016 9:21pm



Quoting ghostbiker
@Albert_Jazz: yes with caution by EUR and USD pairs @sharingan9: read the thread, the GMT 16:00 time is overall on the world the same, 16:00 is in India, China, Australia, Europe, Asia, Hawaii, Russia, USA Italia, Spain, Hungaria, Austria, France, Greece, Japan, Polonia, Northern Korea ever for ever the same 16:00
Success is a Journey Not a Destination....... kind regards ramzam
  • #892
  • Jul 23, 2016 10:06pm Jul 23, 2016 10:06pm
Quoting xmess7
{quote} Hi all. Thank you Ghost for sharing our approach. Great job on the EA RetLaw. And SwingMan, I don't know you but I have seen your work over the many years I have been visiting this forum. I am a coder and have tons of functions, if u guys need any help or coding ideas I will gladly provide. CurseOne: In your VPS just activate the EA and leave the GMTOffset input as is. The EA will automatically calculate the GMT equivalent time on your brokers using your broker's ServerTime and comparing it to GMT time. All that is done in the EA. What RetLAw...
I'm not sure about that. Then why have a parameter for Brokers GMT Offset? My broker is GMT+3 so I believe I enter 3 in that parameter. Isn't that correct?
  • #893
  • Jul 23, 2016 11:22pm Jul 23, 2016 11:22pm
Quoting aagarcia
{quote} I'm not sure about that. Then why have a parameter for Brokers GMT Offset? My broker is GMT+3 so I believe I enter 3 in that parameter. Isn't that correct?
​For back-testing purposes
  • #894
  • Jul 23, 2016 11:54pm Jul 23, 2016 11:54pm
Quoting aagarcia
{quote} I'm not sure about that. Then why have a parameter for Brokers GMT Offset? My broker is GMT+3 so I believe I enter 3 in that parameter. Isn't that correct?
Quoting gwindy
{quote} ​For back-testing purposes
That is correct gwindy. Guys, the reason for that RetLaw placed the Brokers GMT Offset input was for when you want to test it in the strategy tester.


When you run the EA in your demo or live account the GMT offset is calculated by taking the difference between the broker server time and GMT time. That difference cannot change. Even when we add or subtract 1 hr cause of daylight saving, the offset remains the same until we have to change it again.

However in the strategy tester this cannot work. You need to tell the EA the offset that it will use. Think of it this way. When u run an EA in the strategy tester you will see many hours go by in seconds. So imagine that the EA would have to automatically calculate the offset as each hour passes by. GMT Time during those seconds will not change but the broker server time is moving fast. So in essence the EA would have a different GMT offset each time an hour passed by int he strategy tester. Like I said above the GMT offset has to be fixed and as you can see it will not be fixed in the auto strategy tester. So you manually enter the number and now the EA will use that difference as the strategy tester runs.

This is now problem,. RetLaw provides you with the numbers to calculate the GMT offset.
Just take the Server Time - GMT Time that is on the upper left corner. That is your GMT offs

Our AWESOME IMAGINATION is the true holy grail!
  • #895
  • Jul 24, 2016 12:45am Jul 24, 2016 12:45am
i started the doubt....... still it is running..... really sorry for this doubts........
the main course is london close is to open our trades...
it means 16 GMT Hrs.............
30 pages now..... with time diff discussing............
Success is a Journey Not a Destination....... kind regards ramzam
  • #896
  • Edited 2:07am Jul 24, 2016 1:08am | Edited 2:07am
@sharingan9

ghostbikers trade is rule conform.So as far as i can see is your fibonacci not correct attached.Open a clean chart and take the fibonacci tool.Start at the 22:00 GMT.Wait for the lowerst candle and the last candle(is a green candle) then attached the tool.The result of this procedure is that level 100 is the higherst point(price 1.31848) and the lowerst point (price 1.30546).Go back to post 1 and take a look to the sell rule.
This kind of painting the fibonacci lines is because we have no clue what happend as next at the market.

guigra
  • #897
  • Jul 24, 2016 1:59am Jul 24, 2016 1:59am
Quoting guigra
@sharingan9 ghostbikers trade is rule conform.So as far as i can see is your fibonacci not correct attached.Open a clean chart and take the fibonacci tool.Start at the 22:00 GMT candle and move from candel to candle.If you reach the last candle(ist a green candle) then attached the tool.The result of this procedure is that level 100 is the higherst point(price 1.31848) and the lowerst point (price 1.30546).Go back to post 1 and take a look to the sell rule. This kind of painting the fibonacci lines is because we have no clue what happend as next...

I still dont get what you mean. And still no one has given me logic for why this works probably because they dont know why it works lol. Maybe someone can make a video explaining everything. Probably one of the most confusing threads here on forex factory hahaaha. Thats why everyone is relying on the EA to trade for them because they cant figure out the rules either. I will give the EA a try. But still no one can give me a logical explanation of why price would reverse at london close and thats sad lol
  • #898
  • Jul 24, 2016 2:11am Jul 24, 2016 2:11am
Unbelievable.
Anyone who can not figure out what GMT is in your local time shouldn't be a forex trader.
It is a surprise that you even can operate a PC, let alone type text in a forum or that you are able to find a washroom in time....
Open you own topic called 'I am too dim to know what time it is' and don't clutter up this quality thread with your stupid questions that have been explained over and over again by very patient peeps.
It is an insult to ghostbikers and anyone with a half decent amount of brain matter between the ears, having to weed through half of the posts containing any time related questions. It is a colossal waste of bandwidth and anyone's time.

Hey, ghostbikers, I have a question: What time is it 30 minutes after 14:00 hours?
  • #899
  • Jul 24, 2016 2:35am Jul 24, 2016 2:35am
Quoting sharingan9
{quote} I still dont get what you mean. And still no one has given me logic for why this works probably because they dont know why it works lol. Maybe someone can make a video explaining everything. Probably one of the most confusing threads here on forex factory hahaaha. Thats why everyone is relying on the EA to trade for them because they cant figure out the rules either. I will give the EA a try. But still no one can give me a logical explanation of why price would reverse at london close and thats sad lol
See post #622.

Before making claims like "no one has given me logic" and "they dont know why it works", please read the whole thread. I know 45 pages is a lot of reading, but if you really want to know how the strategy works, please put some effort into it and do your own homework. Simply doing a search on Google will also put you on the right track, the "London Close/ Open/ Breakout, etc." concepts has been around for many years, it's not new...
  • #900
  • Jul 24, 2016 2:53am Jul 24, 2016 2:53am
Quoting sharingan9
{quote} Could you explain how to set up the time gmt and the EA. Im still confused on how to do that
Please use this indicator created by our friend Cja
Attached File(s)
File Type: ex4 Time Display nmc.ex4   47 KB | 476 downloads
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