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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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
As tests show there could be 2-3 losses in a row.
It is still GMT time, midnight (as per original rules).
Cheers,
Thomas
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.
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 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
A question regarding the original strategy....when speaking of 50 POINTS do you mean 50 PIPS or 5 PIPS??
Thanks,
Daniel
Hi Daniel,
50 points is definitely 50 pips here.
Best regards,
Edward
Hi DaveH ,
Checked with IG and they dont do OCO orders.
Anyone have results from 29/4/09 onwards ?
regards
Anil
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