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London close trading system for currencies

  • #1,101
  • Jul 27, 2016 2:55pm Jul 27, 2016 2:55pm
trading from Webinar today manually:

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  • #1,102
  • Jul 27, 2016 3:07pm Jul 27, 2016 3:07pm
Ghostbiker, did you trade without stops ahead of FOMC?
  • #1,103
  • Jul 27, 2016 3:17pm Jul 27, 2016 3:17pm
no the stops I have delete after FOMC
I was sure the pairs come in the right direction

I have had the absolutely sure information that the FED not change the interest rate

and this is ever the same game, first go the EUR down the USD up in the strength,
the SL closes the orders and after go the EUR up
I have say this in the webinar this evening the EU go to 1.1050 and this is come !!
  • #1,104
  • Jul 27, 2016 3:19pm Jul 27, 2016 3:19pm
Hey guys, thank you a lot for all information here. I have traded only manually so far. I was interested in Retlaws´ EA. I installed 1.8. with default settings. My settings are exactly the same as Armyda has (live in Czech rep. GMT+1). EA did not open any trade today. Manually i would have traded AUDUSD and EURAUD. I put automatic trading button on. Thanks.
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  • #1,105
  • Jul 27, 2016 3:22pm Jul 27, 2016 3:22pm
Hi ghostbiker.

why did you not take a market order for audchf?
  • #1,106
  • Jul 27, 2016 3:30pm Jul 27, 2016 3:30pm
- I have manually AUDCHF is still open

Ich gruesse besonders "DerBerliner" tote Hose auf DE ? Ein bisschen spionieren was und dann laestern ?
Gruesse an die Zurueckgebliebenen 1106 posts ?

Don't forget: from Monday a new thread "RBT "Renko Boxen Trading" manually
  • #1,107
  • Jul 27, 2016 4:11pm Jul 27, 2016 4:11pm
Without the sharp skills of ghost, I would avoid to trade thid strat on fomc days
  • #1,108
  • Jul 27, 2016 4:30pm Jul 27, 2016 4:30pm
LOC 23.6 trading with ExpertAdvisor and a other EA "BreadandButter"

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  • #1,109
  • Jul 27, 2016 7:40pm Jul 27, 2016 7:40pm
Quoting dominick1982
{quote} OK, so you don't like the system, understood and fine. I am sure you are a fantastic trader with lots of experience to share with us. But it only sounds like you want to put other people down and brag about how great you are...At least that's what it sounds like, I could be misinterpreting it. Don't lecture other people please, we did not ask for your opinion...
Dude are you kidding? Im just trying to show a possible filter one can use to avoid a bad trade. I am not putting anyone down. The system has great potential but I see some lacking as far as RR and proper estimation of trend strength thats all. Look at all my posts, I've thanked GHost, Retlaw, I call everyone buddy and I give encouragement and say good job but as soon as I ask a question Ghost biker insults me by saying I cant read and I cant trade", he insults Kef by saying he doesnt know how to trade etc and you say that I put people down?? Wow. Just wow.
  • #1,110
  • Jul 27, 2016 8:36pm Jul 27, 2016 8:36pm
Quoting sharingan9
{quote} Dude are you kidding? Im just trying to show a possible filter one can use to avoid a bad trade. I am not putting anyone down. The system has great potential but I see some lacking as far as RR and proper estimation of trend strength thats all. Look at all my posts, I've thanked GHost, Retlaw, I call everyone buddy and I give encouragement and say good job but as soon as I ask a question Ghost biker insults me by saying I cant read and I cant trade", he insults Kef by saying he doesnt know how to trade etc and you say that I put people down??...
sharingan9,
I don't know if English is your first language, but your posts a very combative.
This is not a competition, nobody has to prove anything, yet you keep on asking for it and you are dismissing GHs system, or questioning his trading style.
Anyone has his/her own trading style and risk management. Why don't you leave it alone, either open your own thread with your great system or contribute in a civil manner!
  • #1,111
  • Jul 27, 2016 8:47pm Jul 27, 2016 8:47pm
As far as I can tell shanringan was only trying to suggets a filter to reduce bad entries I dont think he is combative my $0.02
  • #1,112
  • Jul 27, 2016 9:28pm Jul 27, 2016 9:28pm
instead of arguing can somebody suggest a good risk-reward ratio.

This system is very nice but RR is like a big black mark on it.
  • #1,113
  • Jul 27, 2016 10:23pm Jul 27, 2016 10:23pm
Quoting sharingan9
Look at what I have circled in white. The pink line is AUD I didnt think the EA would perform well when they started opening AUD pairs and trying to counter the trend. The AUD was the weakest currency going below 2 to even 1.1 for all of US session!!! Now you want to counter that?? not a good move. I think the only way to beat the market is either price action or currency strength. London Close seems a little like flipping a coin but it may work who knows. {image} Thats why I went long on EURAUD before way before london close because I saw AUD was...
Hi Sharingan9
Strength Meter Indi seems to be a good filter for this system. I will add today in London Close.
But lets see if adding SM will avoid us to have bad trades or even will make us never trades at all bcs of the doubt.
Bcs i see if price is between fib 76.4-100 or fib 23.6-0 (due to this system), the related currency line in the SM meter will always put themselves far above or far below from SM center line. This means it's not good for this reverse strategy and we will have big doubt to enter market? Correct me if i have wrong understanding of Strength Meter.
Thanx
  • #1,114
  • Jul 27, 2016 11:03pm Jul 27, 2016 11:03pm
Quoting dearest
{quote} Hi Sharingan9 Strength Meter Indi seems to be a good filter for this system. I will add today in London Close. But lets see if adding SM will avoid us to have bad trades or even will make us never trades at all bcs of the doubt. Bcs i see if price is between fib 76.4-100 or fib 23.6-0 (due to this system), the related currency line in the SM meter will always put themselves far above or far below from SM center line. This means it's not good for this reverse strategy and we will have big doubt to enter market? Correct me if i have wrong...
It does not have to be in the center, just not the weakest or strongest currency that has been below 2 or even at 0 like AUD was. Or not above 8.0 which is really strong for the entire session. Maybe trade the 2 and 7 positions, or the 2 and 6, 3 and 7 etc. Like monday and tuesday where i had all trades hit TP and most of them did not have a 1 and 8 position on Currency Strength Meter. AGain this is just a suggestion for a filter. The risk/reward is also an issue but i dont know how accurate the entry will be if we are just jumping in at london close because in order to have a 1:1 or even a 2:1 risk to reward we have to have pinpoint accurate entry with out price going against us too much so we dont get stopped out and thats hard may be hard to do but again not trying to change the system these are just suggestions. If it is working for you the way it is then continue guys I wish you all GREEN PIPS
  • #1,115
  • Jul 28, 2016 12:25am Jul 28, 2016 12:25am
Hi ghostbiker!
I'm looking after your system with a big interest, thank you for it!
I used Walt_LCTS_v1.6 (recommended settings and my local time correction) for 3 days, it took only 3 trades and today is the first SL. Could you please look what was wrong with this deal?
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Also I see you talk about many more trades per day then EA takes. Is it normal?
Thank you!
Just an opinion. Based on research
  • #1,116
  • Jul 28, 2016 1:11am Jul 28, 2016 1:11am
@since80808,

Hi, the trade nzdusd isn't rule conform.If you take a look at the rules so is the price not in the buy or sell zone.

guigra
  • #1,117
  • Jul 28, 2016 2:01am Jul 28, 2016 2:01am
Quoting blade813
{quote} ​I agree some strategies will work fine for news events, however during central bank statements, there is too much risk of price going one way for 150-200 pips, then reversing. I find that trading pairs with lower volatility do much better when using a system that is counting on small reversals to hit profit .. GBP/AUD and EUR/AUD can sometime move 300-500 a day very easily. The ATR for those are both very high. I tend to stick with pairs with ATR of 125 or less. They seem to recover much easier after a move thus making it more likely...
This makes sense to me. With what I know by experience for certain pairs (GA,GJ) I would only let the ea place L2 orders or perhaps also L1 ( it is possible with the EA).
To better understand, can you please tell me from where the ATR values you mentioned are coming from ?
Are the values coming from the ATR indi on particular TF, Period ?

If it proves to be the right filter we can ask Walter and Ghost to put it in the ea later on?
I thaught also that we could simply use the pips value between 0 and 100 fibs to filter out too big values?

Thanks!
  • #1,118
  • Jul 28, 2016 2:56am Jul 28, 2016 2:56am
- the strength can us not helping for this system, you can only one pair with the strength trade

- this system is not to trade in trend direction, is only a retracement system

- the retracement can come immediately after the order is done or later

- every trader can trade like he will, not one must trade this system

- I have made yesterday + 1.8% with this system, this week up to now + 6.9%

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  • #1,119
  • Jul 28, 2016 3:11am Jul 28, 2016 3:11am
@ghostbiker:

Yes your results are very good in manual and I give you a standing ovation for yesterday.

I'm more here speaking about the ea and seeking possible things to get better R:R.

Since last friday, I'm just BE.

OK, milady, hopefully I'm not fallen with the last rain, and yes, evidently it is a counter trend strategy, retrace of the london session.

But I was just wondering , if the trend was very strong during the session, aren't there big chances ( bad chances ...) that this trend could continue and smash our big sl ( big because of the fibo level being so distant for entry ) ???

This is what already occured before with GJ and GA.

I continue to highly consider your strategy and want to warmly thank you, and Walter, ounce again.
  • #1,120
  • Jul 28, 2016 3:16am Jul 28, 2016 3:16am
Quoting ghostbiker
- the strength can us not helping for this system, you can only one pair with the strength trade - this system is not to trade in trend direction, is only a retracement system - the retracement can come immediately after the order is done or later - every trader can trade like he will, not one must trade this system - I have made yesterday + 1.8% with this system, this week up to now + 6.9% {image}
So can you show the weekly results of 6.9% profit rather than what you want to show?
That way we get a gauge as to what needs to be done to attain the same results
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