Forex trading strategy #16 (Capture Market Opening Pips)
Submitted by User on April 21, 2009 - 00:10.
Submitted by Philipp
I think many of you noticed that price move quite some Pips directly after opening markets in certain countries. So why not taking advantage of these movements and grab a few Pips?
The only problem is how can you know in which direction the market will move?
The answer is quite easy: You don't know.
And there this strategy comes in play:
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What kind of file is it (the content) and where do you want to copy it?
Regards,
Edward
Hi Philipp,
Thanks for the strategy!
I'm not using MT so I won't be able to use your EA. So will be doing it manually. Just need to clarify on how you calculate your entry point and SL. If the high and low of the last few candles were 1.494 and 1.493, my buy SL would be 1.4927 and sell SL would be 1.4943. Where would my entry point be? I assume this strat calls for 2 orders to open?
Leon
"Just place a buy-stop at the high + 5 pips and a sell-stop at the low - 5 pips of the last few candles."
so, you'll have Buy entry at 1.4945 and sell entry at 1.4925.
Thomas
Quick update guys,
Check the Real Money Accounts Competition at http://www.forex-robots.com, the Megadroid it's really reaping the market. It seems to me that they found a solid robot finally.
Best,
Lucas
I feel that this is a good strategy.
With a good money and risk management, I believe it works very well =)
I think that the EA got some bugs.
1. I can't trade with the news although I follow the instructions to trade news
2. When the TP was set "200", it should be 200 pips away from my buy/sell order. But it gave me 20 pips only instead.
3. The SL should work similarly as TP. But when a fixed amount is set, the SL doesn't match with the buy or sell order. For e.g. the buy order is @1.500 and SL is being set at "20". SL should be @1.4880, however it doesnt be the case. the SL will change itself even buy order remains unchanged.
I would appreciate if you can fix that =)
thanks ^^
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