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Simplicity is the Ultimate Sophistication

  • #61
  • Mar 13, 2017 12:26am Mar 13, 2017 12:26am
Quoting Forex Lion
shouldn't the buystop be at 1.0720?
Nope
its closed already .Please see the pic.
Attached Image (click to enlarge)
Click to Enlarge Name: 13-3-2017 8.00.png Size: 40 KB
  • #62
  • Mar 13, 2017 12:40am Mar 13, 2017 12:40am
Quoting zentrader8
{quote} Nope its closed already .Please see the pic. {image}
yes, but the high of the 8:00 hour candle is over 1.0710, thought we should use the next round number (1.0720)?
  • #63
  • Mar 13, 2017 12:56am Mar 13, 2017 12:56am
Quoting Forex Lion
{quote} yes, but the high of the 8:00 hour candle is over 1.0710, thought we should use the next round number (1.0720)?
Nope, please see the pic. maybe the broker we use is different. so the data feed and the candle different as well.
Attached Image
  • #64
  • Mar 13, 2017 1:02am Mar 13, 2017 1:02am
Quoting zentrader8
{quote} Nope, please see the pic. maybe the broker we use is different. so the data feed and the candle different as well. {image}
ok, at my broker the high is 1.0713
  • #65
  • Mar 13, 2017 1:28am Mar 13, 2017 1:28am
green Day :-)

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM1 13 march quick.png Size: 48 KB
  • #66
  • Mar 13, 2017 1:48am Mar 13, 2017 1:48am
Quoting 4x4free
green Day :-) {image}

great for you bro, im ended with green pips as well.
  • #67
  • Mar 13, 2017 1:50am Mar 13, 2017 1:50am
first trade sl, second trade open and TP.
End the day with green pips.
Done for the day
  • #68
  • Mar 13, 2017 2:24am Mar 13, 2017 2:24am
Quoting zentrader8
3. at 9.00 opening candle see the market whether its going down or going up.
If its going down, put the sell stop the first 00 level under,
and if it going up, put the buy stop at the first 00 level above the 8.00 candle.
Is there any amount of time we should give the 9.00 candle, before we determine if it's going up or down.
Is it seeing if it goes up or down in the first ten seconds, and enter the order. Or do you give it a bit more time to settle it's direction (ie. 10 minutes)?
  • #69
  • Mar 13, 2017 2:34am Mar 13, 2017 2:34am
[quote=PipSeer;9646906]Zentrader8: thank you for this. I just have a few questions: 1. What do you consider the market opening time? 8am or 9am? And is that the open of London or the open of Frankfurt? Many people combine them and say the "open".

London opens at 8:00 GMT, here is a time converter....http://forex.timezoneconverter.com/
  • #70
  • Mar 13, 2017 2:53am Mar 13, 2017 2:53am
Quoting OldeStoney
{quote} Is there any amount of time we should give the 9.00 candle, before we determine if it's going up or down. Is it seeing if it goes up or down in the first ten seconds, and enter the order. Or do you give it a bit more time to settle it's direction (ie. 10 minutes)?

Nope, there is none, for me now i just trade the firs 00 levels touched.
there is no fix amount of time to touch the levels.
  • #71
  • Mar 13, 2017 3:09am Mar 13, 2017 3:09am
[quote=AceVenturaNL;9657494]
Quoting PipSeer
Zentrader8: thank you for this. I just have a few questions: 1. What do you consider the market opening time? 8am or 9am? And is that the open of London or the open of Frankfurt? Many people combine them and say the "open". London opens at 8:00 GMT, here is a time converter....http://forex.timezoneconverter.com/
Neither, i dont consider the market opening time at 8, or 9. Just look at the hourly candle charts.two hours before london open. wait until it close and see the high and low from the candle.
in my broker i use icmarket. so the london open at 10.00 i look at 08.00 candle, wait until it close and trade the 00 levels above and below.
  • #72
  • Mar 13, 2017 3:15am Mar 13, 2017 3:15am
Quoting zentrader8
first trade sl, second trade open and TP. End the day with green pips. Done for the day
thank you for the explanation, and sharing this system.
I just have one last question, today your first trade went to sl?

The first 00 level below the low of the 08.00 candle was 1.069.
Attached Image (click to enlarge)
Click to Enlarge Name: simple.jpg Size: 96 KB

Wouldn't you have had your stop sell at that level, with tp at 1.068 & sl at 1.0705?
(just as 4x4free chart suggests)
  • #73
  • Mar 13, 2017 4:23am Mar 13, 2017 4:23am
So, high/low of candle 2hrs prior to London open.

Mark high/low

Then as 0900 candle starts, as soon as it penetrates either the previous candle high/low, place order at next .00 level to buy or sell with TP at next .00 level and S/L at 15 pips.

If first trade hits SL, then trade once more with x3 position but still in direction of second candle (one prior to London open) at next .00 level?

OR do you wait for the candle to close after your 0800 candle? The await direction of 0900 candle is too ambiguous, as looking back at charts, many times the candle starts one way in first 5mins then goes the other?

Nice simple system tho for my wife to trade which is what I was looking for!
Trade less and become more profitable!
  • #74
  • Mar 13, 2017 4:31am Mar 13, 2017 4:31am
Quoting zentrader8
BUY STOP 1.0710 TP 1.0720 SL 1.0705 Lets see {image}
What are the rules for long or short? By color signal H1 candles?
Please excuse the bad English via Google Translate.
  • #75
  • Mar 13, 2017 4:51am Mar 13, 2017 4:51am
See attached eg from last Monday. The 0900 candle signal was unclear as initially went higher but closed lower than its open. But as 0900 high penetrated the 0800 high, we are looking for Longs, so order placed at next .00 level. (1.06100) TP at 1.06200
Attached Image (click to enlarge)
Click to Enlarge Name: 2017-03-13_1144.png Size: 55 KB
Trade less and become more profitable!
  • #76
  • Mar 13, 2017 5:17am Mar 13, 2017 5:17am
The direction is determined only when London opens?
Please excuse the bad English via Google Translate.
  • #77
  • Mar 13, 2017 8:41am Mar 13, 2017 8:41am
Quoting OldeStoney
{quote} thank you for the explanation, and sharing this system. I just have one last question, today your first trade went to sl? The first 00 level below the low of the 08.00 candle was 1.069.{image} Wouldn't you have had your stop sell at that level, with tp at 1.068 & sl at 1.0705? (just as 4x4free chart suggests)

yeah, the first trade hit the sl, open the second trade and hit the TP.
  • #78
  • Mar 13, 2017 8:42am Mar 13, 2017 8:42am
Quoting Grimweasel
So, high/low of candle 2hrs prior to London open. Mark high/low Then as 0900 candle starts, as soon as it penetrates either the previous candle high/low, place order at next .00 level to buy or sell with TP at next .00 level and S/L at 15 pips. If first trade hits SL, then trade once more with x3 position but still in direction of second candle (one prior to London open) at next .00 level? OR do you wait for the candle to close after your 0800 candle? The await direction of 0900 candle is too ambiguous, as looking back at charts, many times the...
Yes. You are right.
but im not waiting for the 9.00 candle to close, just simply trade the first 00 levels hit.
  • #79
  • Mar 13, 2017 8:44am Mar 13, 2017 8:44am
Quoting dokopy
The direction is determined only when London opens?
please read the rules.
not gonna help you, if you aint read the rules.
Thanks
  • #80
  • Mar 13, 2017 9:14am Mar 13, 2017 9:14am
Quoting zentrader8
{quote} Yes. You are right. but im not waiting for the 9.00 candle to close, just simply trade the first 00 levels hit.
Thanks Zen, clearer now.
Trade less and become more profitable!
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