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  • #141
  • Mar 16, 2017 5:35pm Mar 16, 2017 5:35pm
Quoting zentrader8
{quote} Btw,Nice trade today ! But is it the right time? because the eurjpy chart i think the time is not correct, i think its not the new york open. Please correct me if im wrong.
Sorry guys. My confusion trying to trade the US open from the UK with charting based in Cyprus (-2 GMT!)

Because of US daylight saving currently if effect, US events happen 1hr earlier in UK time, until we also move our clocks forward on 26 March.

There's an old maxim in the markets, that retail play the open and Pros own the close. If you look back at the US Cash Equity Open at 0830 US time, the first hour is usually mixed. I find the best time where trends gain traction is post the first hour; as someone said, there are well known strategies that trade the first hour. By waiting for another 30mins after the first hour we have a better chance of success - this is reflected in the price action. Have a look back at the M30 bars that close after the first hour. In effect, you are placing orders 1.5hrs after the cash equity open.

Hope that clears up the confusion; thanks Zen.

For those of you who wish to trade the US session (or any other for that matter) I have enclosed a useful indy for marking the 30min candles. You just need to play with the box colour(none) and choose your line colour then change the open/close times to adjust.

Good trading
Attached Image (click to enlarge)
Click to Enlarge Name: 2017-03-16_2232.png Size: 64 KB
Attached File(s)
File Type: ex4 Daily LinesBoxes(1).ex4   40 KB | 360 downloads
Trade less and become more profitable!
  • #142
  • Mar 16, 2017 10:28pm Mar 16, 2017 10:28pm
Quoting Forex Lion
{quote} looks like you using the wrong candle again, you took the candle 3 hours before London open as candle to mark high/low. If you had used the candle 2 hour before, you would have tp at the first trade
i believe we've already established that Zen's system uses the 3rd candle before London open. It may be an idea if Zen would changes this in his first post with the rules in it, to prevent this ongoing confusion.
  • #143
  • Mar 17, 2017 2:35am Mar 17, 2017 2:35am
Quoting zentrader8
{quote} Im sorry for your dad, and i hope all the best for him. Yes, i checked on the last year data, just found that this method hitrate is above 80% for the first and second trade. So you means that , random martiangle? Like today open 1 lot, then tomorrow 3 lot and the day after tomorrow 5 lot? then after that open 1 lot again, and repeat? so we loss and profit randomly , did you mean like this?
Hi Zen,

No, i didnt mean that as that is exactly a martingale but instead of martingaling the trade, martingaling the day ... I guess it also works most of the times.

Excuse me then īcause I did not make myself clear in the first place. What I wanted to say is that I am trying to find a MM technique to feel confortable with that avoids martingale squared as I got a method similar to yours and I am trying to scape martingales to compensates losses.
What I commented in my previous post is quite a modification of your method. Sorry for that, I didnt mean to evaluate your work, much less to change it. I just wanted to propose something that I have in my mind to improve the impact of "bad days".

Somewhere I read that the first loss is the best loss. So, if I apply that, then only one trade per signal is the best option, meaning no 2nd trade according to your method. One trade with the parameters defined by the methodogy. That is, one day one trade!

That is my starting point that I didnt make clear. Sorry

The filosophy behind is that is easier to counterbalance a bad day than 6 (in case both trades went to be SL). It is something obvious, but I like this thread because of its title
Thus, starting from that premise - one day, one trade - then the MM technique that Iīm considering is as follows:
Figures just to work as an example:

Sample period : 10 days
Starting trade size: 1 unit (whatever it might be that suits and fits each traderīs risk)
Results: win, tie or loss
If win or tie, keep on trading on 1 unit trade size.

If loss, then increase volume to 2 units for next sample period.
Results: win, tie, loss
If win, then come back to original 1 unit (the value of that 1 unit should be a function of the equity balance)
If tie, repeat volume for another sample period
If loss, then increase volumen to 3 units for next sample period....... and so on until one become so **** old or runing out of patience and money

just kidding, a bit of humour at this time of the morning can make any bad.
I hope I made myself clearer this time on the MM I am considering
Cheers!

PS: I dont know if I did it right, but today it nicely worked with the 1st trade. I did it on real. So thanks again Zen
  • #144
  • Mar 17, 2017 2:42am Mar 17, 2017 2:42am
Quoting Grimweasel
{quote} Sorry guys. My confusion trying to trade the US open from the UK with charting based in Cyprus (-2 GMT!) Because of US daylight saving currently if effect, US events happen 1hr earlier in UK time, until we also move our clocks forward on 26 March. There's an old maxim in the markets, that retail play the open and Pros own the close. If you look back at the US Cash Equity Open at 0830 US time, the first hour is usually mixed. I find the best time where trends gain traction is post the first hour; as someone said, there are well known strategies...
Hi Grimweasel,

Couple of thanks for your post. One for your explanation, the other for sharing the indy

Good trading to you too. Cheers mate!
  • #145
  • Mar 17, 2017 3:08am Mar 17, 2017 3:08am
Two trades hit TP today. That's me done. 1hr of trading. 20 pips profit. Off to play golf. Thanks Zen
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Trade less and become more profitable!
  • #146
  • Mar 20, 2017 8:40am Mar 20, 2017 8:40am
Sell stop at 1.0750
TP at 1.0740
SL at 1.0765

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lets see
  • #147
  • Mar 20, 2017 9:44pm Mar 20, 2017 9:44pm
need long time, but green day!

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  • #148
  • Mar 21, 2017 3:26am Mar 21, 2017 3:26am
today quickly win the pips! green Day

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  • #149
  • Mar 21, 2017 4:25am Mar 21, 2017 4:25am
Quoting zentrader8
Sell stop at 1.0750 TP at 1.0740 SL at 1.0765 {image} lets see
Zen, did you trade last Friday? how did that trade pan out for you?
  • #150
  • Edited 10:29am Mar 21, 2017 10:18am | Edited 10:29am
i tried trailing stop 10 pip sl 15 pip . 2 trade / day . don't triple lot when hit sl. If TP or SL hit wait untill price come to middle of 8.00 bar then start pending trade again.
In 2.5 month(2015/01/05 to 2015/03/13) profit is 245.2 pip. DrawDown is -52.5 pip
Most of the time this system will win less than 10 pip but if market 'boom' we win 20 - 40 pip .

this system work in some market .I mean I often have loss day 3-4 day continue. This is why don't triple lot.I don't want big drawdown. just wait. this system need 2 big win and will recovery your loss day.

loss day = (loss ,small win) or (loss,loss)

i took trade 84 trade

27 loss (-15 pip) BE 3 win 54

win trade have ...
1-10 pip = 26 trade
11-20 pip = 14 trade
21-30 pip = 7 trade
31-40 pip = 7 trade

I know my eng skill is bad.Sorry
  • #151
  • Mar 21, 2017 6:04pm Mar 21, 2017 6:04pm
Nice work Kaimot

I've stuck with the original plan by Zen but if I lose the first trade, I wait and trade (1 lot) with the m30 candle 1.5hrs after the US open. Works really well on EurJpy too - I can get 1 pip spread and the ATR on eurjpy is usually higher, so it moves longer/quicker. I agree on triple lots - too big, but with a 64% win/loss ratio on your sample, just opening again once a day with a single lot gets lowers your day loss ready for tomorrow. Both trades hit TP in eurjpy today.
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Trade less and become more profitable!
  • #152
  • Mar 21, 2017 10:43pm Mar 21, 2017 10:43pm
Quoting 4x4free
today quickly win the pips! green Day {image}
Nice trades, hopes today trades have green pips as well
  • #153
  • Mar 21, 2017 10:48pm Mar 21, 2017 10:48pm
Quoting OldeStoney
{quote} Zen, did you trade last Friday? how did that trade pan out for you?
Sorry for late reply, recently ive been quite busy.

i notice the right candle should be 2 hours before the london open, not 3 hours..
so whatever your timeframe is, just wait 2 hours candle before london open, see the high and low and open the trade above or below.
sorry for my mystake, because i just done some research, and the trade that give better yield is the trade i look at the candle 2 hours before the london open.
Friday i ended with loss(because i still trade wrongly and look at the candle 3 hours before), but monday and tuesday i ended with profit.So it should be the 2 hours candle before london open.
  • #154
  • Mar 21, 2017 10:51pm Mar 21, 2017 10:51pm
Quoting kaimot
i tried trailing stop 10 pip sl 15 pip . 2 trade / day . don't triple lot when hit sl. If TP or SL hit wait untill price come to middle of 8.00 bar then start pending trade again. In 2.5 month(2015/01/05 to 2015/03/13) profit is 245.2 pip. DrawDown is -52.5 pip Most of the time this system will win less than 10 pip but if market 'boom' we win 20 - 40 pip . this system work in some market .I mean I often have loss day 3-4 day continue. This is why don't triple lot.I don't want big drawdown. just wait. this system need 2 big win and will recovery...
Hello kaimot.
you did a nice research.
May i know what kind of trailing stop do you use?
and how is the method?

and i want to ask, you did a test on january 2015-march 2015?
why you did the test on that year? not this year 2017 or last year 2016?
Is there some reason behind it?
  • #155
  • Mar 21, 2017 11:03pm Mar 21, 2017 11:03pm
Quoting Grimweasel
Nice work Kaimot I've stuck with the original plan by Zen but if I lose the first trade, I wait and trade (1 lot) with the m30 candle 1.5hrs after the US open. Works really well on EurJpy too - I can get 1 pip spread and the ATR on eurjpy is usually higher, so it moves longer/quicker. I agree on triple lots - too big, but with a 64% win/loss ratio on your sample, just opening again once a day with a single lot gets lowers your day loss ready for tomorrow. Both trades hit TP in eurjpy today. {image}
Yes, its just my mm.
To minimize the risk i think we can open twice lot size on the second trade.
Its better than triple lot.
I saw the eurjpy chart, and i think it works well too. But for me the spread in eurjpy cannot get as low as eurusd.
As for icmarkets sometimes the spread can be as low as zero.
  • #156
  • Mar 22, 2017 4:12am Mar 22, 2017 4:12am
Quoting zentrader8
{quote} Hello kaimot. you did a nice research. May i know what kind of trailing stop do you use? and how is the method? and i want to ask, you did a test on january 2015-march 2015? why you did the test on that year? not this year 2017 or last year 2016? Is there some reason behind it?


No nothing behind that. I just ramdom time.

my method is
Pending trade sl 15 on roundnumber
trade hit 10pip move sl to BE and trailing stop 10 pip.

If tp or sl hit wait price comeback to middle ((high roundnumber + low roundnumber)/2) then start pending 1 more trade .

I'm waiting price come to middle because i avoide choppy price.

If I have time I will try this in this year. sorry for change your system but I'm so greedy with some big move. haha
  • #157
  • Mar 22, 2017 10:43am Mar 22, 2017 10:43am
Today ended with green pips

Sell stop at 1.0790
TP at 1.0780

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  • #158
  • Mar 22, 2017 6:09pm Mar 22, 2017 6:09pm
Agree Zen. Pair with lowest 'criminal' spread is best.

Works well with the 30m candle 1.5hrs after the US open too.

I've found my losing trades are around strong number 00 levels, such as EurUsd today around the 1.800 level (traded US open). These big levels often present significant battle lines between the bears/bulls. Trading the 1.840 to 850 level for example should be easier? Would have to conduct some forward testing. Still, green pips today!
Trade less and become more profitable!
  • #159
  • Mar 23, 2017 4:28am Mar 23, 2017 4:28am
Sell stop triggered and TP already

quick pips today.

Hope you all ended with green pips
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  • #160
  • Mar 23, 2017 4:36am Mar 23, 2017 4:36am
yes quicky green day!, thanks zentrader
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