Advanced system #14 (Simple trading with Daily range)

12am is pacific time that corresponds to 8am London time (London Market Open). I found out that most major moves occur from 12am to 3am pacific time which is about 3 hours range from London open. If within that time you don't get a big move, then the next timeframe for a big move is around NY open time which is around 7am to 9am eastern time (4am to 6am pacific time). However, from Stuart's first post, he mentioned that you can use any 24hr time period for the strategy. For me, I average around 100+pips a day around London time for the last 2 weeks or so on the demo account. Will try out the NY open time next week for 2 weeks to see how I do. ;-)

THANX FOR THE RESPONSE ON THIS PACIFIC TIME ISSUE.
SO IF YOU DONT MIND EXPLAINING THIS TOME I WOULD REALLY APPRECIATE IT, I AM A LITTLE CONFUSED WHEN IT GETS TO TIME ZONES.
SO WHEN ITS 12 AM LONDON SESSION TIME, WHAT IS THE TIME HERE IN PACIFIC TIME?

THANK YOU VERY MUCH FOR YOUR TIME.

I'm also on pacific time too. However, I still set my trading time from 12am - 11:59pm (London Session). If you use the ant-GUBreakout-V.0.4.2 the settings are: GMT Shift =0, Start=7, End=6:59 I don't know how to post pic on forum yet since I'm new to forum and forex as well.

hi Stuart.
i wanted to get something clear with this system, i am residing in the western part/coast of north america, in another words the new forex trading day here starts at 4pm our time pacific time.
my question is can i start this simple trading system at the time when the new forex day starts or can it be any time of the trading day longest i get the previous trading day's info? if you know what i mean.
thank you very much again.

Yes, in this particular case long trade was technically OK. Unfortunately, the price movements depend not only on technical matters but also fundamentals and emotions...
I use indicators that show if there is a trend and if it is to the "right" direction. And I very much like those multi-timeframe indicators because it is really comfortable to see what is happening in all other timeframes without switching the charts.
Indrek

HI STUART. WITH THE COG FILE THAT ONE IS SUPPOSED TO PUT INTO HIS MT4 PLATFORM, WHERE DO I PUT IT INTO WHAT FOLDER WHEN I DOWNLOAD IT AND WOULD YOU BE ABLE TO SEND ME SOME SORT OF A SCREEN SHOT OF HOW IT LOOKS BECAUSE IAM CONFUSED ABOUT THIS COG THING.
THANK YOU

thanx Indrek for your reply, so this example means that i should only trade bullish? buy stops?
thanx

I suggest not to use Center of Gravity, it does not react to the trend changes quickly enough. NB! Best trend indicators are available at www.kreslik.com. Available free of charge and understandable without any manuals.
For good example, please have a look at the H1 chart that I use. It includes some of those wonderful multi-timeframe indicators:

Indrek

hi STUART
I WAS WONDERING I AM A LITTLE CONFUSED ABOUT THE CENTER OF GRAVITY ON HOW TO ATTACH IT TO THE CHART AND USE IT,ETC. I WOULD APPRECIATE IF YOU COULD GIVE ME SOME MORE INFO ON THIS OR WHERE I COULD FIND IT ON THE WEB.
THANK YOU.

Indrek,

You're right about the ranging market; I lost about 200+ pips! However, since Monday to now, gained all back and more. Too bad, it is only demo pips. ;-)

User,
If you have this indicator already, would you post it here?
Indrek

I don't no if this will help a little

I have just found an EOD MT4 indicator for any pair that takes the open, high, low, close, volume and and puts it into a spreadsheet automatically.

Just google "HISTORYDATA-MTP.mq4"

It can be modded and it might decrease time with no manual figures needed to be put into a spreadsheet. Maybe so called volume might be helpful.

Yes, when I calculated previous day range then it was from 7 to 7 GMT.
In fact, I have got an idea that under usual circumstances there is no big difference if you use ADR, ADR10, ADR20 or previous day range. The difference if divided to 4 is usually only some pips. As this is a breakout strategy then there are only 2 possibilities - if there is a quick real breakout or not. If yes - you win, if no - you lose.
Indrek
P.S. Today was a perfect day for this system! What a pity that I did not use it today...

Indrek

You are certainly right. Batavier has created something fundamentally different.

I stand aside unless Edward and Batavier wish to follow through on his findings then determine whether it warrants discussion in a new thread.

Thank you for bringing me back on target for this system.

Best, David

thanks for the reply Indrek, so basically the results you posted are with the previous days range (which is the previous days high - previous day's low in the time period 0700 GMT ~ 0700 GMT and divided this by 4) Is this correct?

thanks