Forex trading strategy #18 (20 pips with GBPUSD after midnight)
Submitted by User on May 8, 2009 - 11:01.
Submitted by Rich
I've just started trading a strategy which is based on the close of the first 15 minute bar after midnight GMT on GBPUSD.
1.) Take the closing price of the first 15 minute bar after midnight GMT on GBPUSD
2.) Place a buy order 50 points above the close and a sell order 50 points below the close
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Yes, orders can be triggered only during the day, but to make sure you don't miss it, you should place them as early as possible, hence - midnight.
The strategy will work with EURUSD, probably there we could place buy/sell orders closer: around 35 pips.
Regards,
Edward
Can this midnight strategy work on the eur/usd and if so which would be better?
I´d like to have one question: If you place these orders after the midnight, when these orders open usually? I think, that these orders achieve 50 pip above or below only during the day, and not in the night, am I right? please send me an e-mail: zsolt.nagy(at)forex-investments.co.uk
Thanks, the strategy is amazing!
this system work only some year it all random.
Midnight = 00:00 GMT
Rich
Hi Rich.. Thanks for sharing the nice system.. But pls tell the time which u mean as midnight..
MAy be a silly question but I am not so brainy person.. Thanx in advance..
this system work on 2008 no one answer with record 2009 to 2010 must not working anymore. plus i try this system but my broker alway stop me out at 20 pip to 25 pip
even when i just put 19 pip stop loss.
I think that's the being used.
Thomas
I'll try your strategy Rich, I mean the one that looks for break of previous day high/low...
But, which time use for "day close time"? 00.00 GMT ??
Thanks for your strategy.
just want to know did anyone trade this system from 2009 to 2010 ? and how many pip profit?
i think rick you have the best system in the market..
Yes, it does, you can try it and it won't disappoint you. Also read the previous comments, I've found them very helpful.
Is this system still working?
Hi Marios,
the spread cost should be additionally included, so it's 20 pips + spread for both stops and limit orders, so that in the end you have a clean 20 pips win or a clean 20 pips loss.
Kind regards,
Edward
Please, allow me a simple question. It's been written;
...3.) Both orders should be placed with a 20 point stop loss and a 20 point limit order to take profits...
The Stop Loss and Take Profit orders should be 20pips+spread or 20pips included spread?
I'm using FXCM Micro Trading Station II, so when I'm setting orders based on pips prices, spreads are not included (20 pips profit, 20 pips+spread losses). If I want them to be included I'll have to set orders manually (20 pips profit, 20 pips losses).
Thanks in advance! Great site - great job!
Marios
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