Forex trading strategy #18 (20 pips with GBPUSD after midnight)

hi,this is sivaraman from india, i would like to know other people r trying this method and what is the experience

example: on 23-feb-2010 lets closing of 00:15 is 1.5528 then closing of 00:30 is out of 00:15 bar then when price cross high of 00:15 means 1.5536 then go for ur 20 pips "

are you able to understand this example?

" I found different way to catch 20 pips :

at GMT : 00.15 at closing of that price whichever side mkt move and closed outside of 00:15 bar and again whenever ever price move back and cross that 00:15 bar then catch ur 20 pips with 20 pips STOP
example: on 23-feb-2010 lets closing of 00:15 is 1.5528 then closing of 00:30 is out of 00:15 bar then when price cross high of 00:15 means 1.5536 then go for ur 20 pips "

english please......thanks

I found different way to catch 20 pips :

at GMT : 00.15 at closing of that price whichever side mkt move and closed outside of 00:15 bar and again whenever ever price move back and cross that 00:15 bar then catch ur 20 pips with 20 pips STOP
example: on 23-feb-2010 lets closing of 00:15 is 1.5528 then closing of 00:30 is out of 00:15 bar then when price cross high of 00:15 means 1.5536 then go for ur 20 pips
best luck

It's nothing more than a reply at the strategy of Rich ;-)

Very nice and simple one!
Thank you, Jilles, for sharing your trading approach with us.

Happy trading!
Edward

Hi,

This strategy is very simple and it will work fine on volatile currencies or indices. For instance GBP/USD or EUR/USD. Timing is essential but not needed exactly at 12.00 PM or something like that. The best way is to wait for a while when there is not a lot of volatility. Let's say for an hour or two the range is between 1.3600 and 1.3620. Then you prepare the first order for BUYING at 1.3640 with TP and SL for 10 or 20 pips. The second order is SELLING at 1.3580 with TP and SL for again 10 or 20 pips. You can combine these two orders with a so called OCO or OCA order (One Cancells the Other). This is not possible in MT4. I do this with TWS from Interactive Brokers. The advance of TWS is that you can order your entry with STP LMT and not only STP BUY. It is not needed to combine these orders but I will advise to do this, especially when you are not behind your screen....... But, on the other hand, the chance that you will win both orders is not unthinkable..... ;-)

I like this kind of strategies very much, it's very simple and you don't need sevral "complicated" Technical Indicators ;-) The advise is doing one trade a day. If you're winning fine, if you are losing bad luck, try the next day again! 10 pips winning with 1/1 Lot is $ 100. When you are winning for three days in a row, you can consider to upwards the amount of lots.... But, be carefull! Ofcourse you can trade also with 0,5 or even less amount of lots. My exprience is that TP and SL with 10 pips will work fine.

The meaning and thoughts of this great simple strategy is clear I think............

Kind regards from The Netherlands,
Jilles

Hi DaveH ,

Checked with IG and they dont do OCO orders.
Anyone have results from 29/4/09 onwards ?

regards
Anil

Hi Daniel,

50 points is definitely 50 pips here.

Best regards,
Edward

A question regarding the original strategy....when speaking of 50 POINTS do you mean 50 PIPS or 5 PIPS??

Thanks,
Daniel

Hi DaveH,

OCO is not available on MT4, but is available on Currenex.
Alpari UK has Currenex (http://pro.alpari.co.uk/), but you'd need to have $20K to open an account.

Cheers,
Thomas

Hi all,
I am interested in this system - great website, by the way!
I am using an Alpari uk demo account, but don't know how to automatically close down the trade that doesn't kick in first. I see Rich uses IG Index with OCO (one closes other).
Does anyone know if Alpari has a similar feature?
Regards
DaveH

Hi Rich ,

Its a very good system as it fit my timings and mindset . Can i ask if you have results from 29/4/09 to date ? If so i would appreciate them .My email is :
puregold24carat(at)hotmail.com

kind regards
Anil.

As tests show there could be 2-3 losses in a row.
It is still GMT time, midnight (as per original rules).

Cheers,
Thomas

any one using this still ? is it still midnight GMT ? or is it the first 15 min of london start time ? if so whats london start time ?

btw, i tried this on gbpusd today, yesterday and both times hit SL