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pierre23
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Postby pierre23 » Mon Feb 09, 2009 3:44 am

MightyOne wrote:
pierre23 wrote:Just a thought: I havn't observed a lot, but, is it mostly true that if price is in one direction by a hundred (+/-) pips from 2 or 3 of the market opens (NY, TY, AU, LD) that theres a good chance of the next opens to go in the same direction?

Take a look at these indicators side by side;
TRO2009_OpenDif
TRO_MPMM_Opens

Specifically with the MPMM Open when I take a look (not now, when I HAVE taken a look) most of the time we see 4 arrows pointing in the same direction.

Do you think it would be profitable by waiting for 2 or 3 opens and trading the next open/opens in the same direction?


You know that you are setting your self up for an "it doesn't matter what we think" & "the only thing that matters is what you SEE" response.


Actually, I was hoping for a response more along the lines of "I agree, it could work" or "No, I've tried this and it hasn't been profitable".

I had only thought of it after a quick observation. You could say I was looking to someone for confirmation.

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MightyOne
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Postby MightyOne » Mon Feb 09, 2009 5:52 am

pierre23 wrote:
MightyOne wrote:
pierre23 wrote:Just a thought: I havn't observed a lot, but, is it mostly true that if price is in one direction by a hundred (+/-) pips from 2 or 3 of the market opens (NY, TY, AU, LD) that theres a good chance of the next opens to go in the same direction?

Take a look at these indicators side by side;
TRO2009_OpenDif
TRO_MPMM_Opens

Specifically with the MPMM Open when I take a look (not now, when I HAVE taken a look) most of the time we see 4 arrows pointing in the same direction.

Do you think it would be profitable by waiting for 2 or 3 opens and trading the next open/opens in the same direction?


You know that you are setting your self up for an "it doesn't matter what we think" & "the only thing that matters is what you SEE" response.


Actually, I was hoping for a response more along the lines of "I agree, it could work" or "No, I've tried this and it hasn't been profitable".

I had only thought of it after a quick observation. You could say I was looking to someone for confirmation.


Maybe a little more detail would help:

What is your plan for SL and take profit?

What is your strategy for entry?

What is your trade duration?

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MightyOne
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Postby MightyOne » Mon Feb 09, 2009 5:59 am

TheRumpledOne wrote:
MightyOne wrote:
Then there is TRO who asks for nothing more than a little token of appreciation just once a year out of the hundreds or even thousands we are frivolously throwing away...


Actually, I do NOT ask for anything.

I post many indicators for free. If someone wants to send me a token of appreciation, I return the favor by sending them some THANK YOU indicators to show my appreciation of their support.


Ok, then I will rephrase:

Then there is TRO who would really relish a small token of appreciation just once a year out of the hundreds or even thousands we are frivolously throwing away...

pierre23
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Postby pierre23 » Mon Feb 09, 2009 8:26 am

MightyOne wrote:
pierre23 wrote:
MightyOne wrote:
pierre23 wrote:Just a thought: I havn't observed a lot, but, is it mostly true that if price is in one direction by a hundred (+/-) pips from 2 or 3 of the market opens (NY, TY, AU, LD) that theres a good chance of the next opens to go in the same direction?

Take a look at these indicators side by side;
TRO2009_OpenDif
TRO_MPMM_Opens

Specifically with the MPMM Open when I take a look (not now, when I HAVE taken a look) most of the time we see 4 arrows pointing in the same direction.

Do you think it would be profitable by waiting for 2 or 3 opens and trading the next open/opens in the same direction?


You know that you are setting your self up for an "it doesn't matter what we think" & "the only thing that matters is what you SEE" response.


Actually, I was hoping for a response more along the lines of "I agree, it could work" or "No, I've tried this and it hasn't been profitable".

I had only thought of it after a quick observation. You could say I was looking to someone for confirmation.


Maybe a little more detail would help:

What is your plan for SL and take profit?

What is your strategy for entry?

What is your trade duration?


The following are (obviously) just suggestions;

SL - could be the high/low of the opening of the last session. eg. (for GMT+10) NY, SYD and Tokyo had opened and you're looking to trade the London open in the direction price has gone in relation to the other opens. Your SL would be the last session's high/low. In this case the high or low of Tokyo's opening hour candle. OR sl could be based on D1 Range versus the D1 ATR (work out sl based on %).

Entry - Could be 10 or 20 pips IN the direction you're looking for BEFORE entering at that price. So London opens, you have your Limit order ready for 20pips in the direction you want to trade.

Duration - As we're waiting for the sessions this wouldn't be a scalping strategy, more of a few hours kinda thing.. also depends on which open you're trading.

If you're trading a volatile pair, there should be no reason why (if price actually does tend to head in the same direction as the other sessions) it should take long to reach say 20-50pips (it could be price may tend to shoot in your direction in the first hour or two of a session open). Take some profit, move your stops and let the rest go. Or take your 50-100pips and that's it for the day. TP really depends on your risk and money management.

By all means if anyone has tried this before or think this wouldn't work for some reason or another speak up.

Maybe this could be a strategy for only the first hour or two of the last session? So you're Sl's would be much smaller, your tp would still be around the 20-50 mark giving you a better risk/reward ratio. Also price may also tend to shoot around more in the first few hours?

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MightyOne
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Postby MightyOne » Mon Feb 09, 2009 1:34 pm

Here are some posts I have recently made:

http://forums.babypips.com/show-me-mone ... eople.html

I am not ignoring you Pierre :wink: it is 8:35 am and I have no strength left in my bones to respond to any thing atm.

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TheRumpledOne
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Postby TheRumpledOne » Mon Feb 09, 2009 3:38 pm

Image

SHORT at Pyscho 25 or DIBS 13 paid off.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

Please do NOT PM me with trading or coding questions, post them in a thread.

zapzinig
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Postby zapzinig » Mon Feb 09, 2009 5:04 pm



Here is my Psyco short at 1.4925 I exited with 25 the trade went nearly 75

I bagged 90 pips with just psyco trades today. Account up 22 percent today!

Two other trades one was a loss.

I am done for today.

Gary

pierre23
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Postby pierre23 » Mon Feb 09, 2009 10:32 pm

MightyOne wrote:Here are some posts I have recently made:

http://forums.babypips.com/show-me-mone ... eople.html

I am not ignoring you Pierre :wink: it is 8:35 am and I have no strength left in my bones to respond to any thing atm.


lol, no worries mate

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MightyOne
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Postby MightyOne » Tue Feb 10, 2009 6:40 am

Looked even better on a 3m chart...

ImageImage

jsteyn4801
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Draw a line in the Sand - Step over it and you are mine

Postby jsteyn4801 » Tue Feb 10, 2009 9:49 am

My first post

Worked through the whole thread the last two days (could not sleep = gripping stuff) - internet slow = took ages. It paid off.

TRO it took me a long time to SEE IT.

I took two trades today on EURJPY. Will only focus on this currency. Spread/ commission manageable with scalping. Up 80 pips using H1 Candle Colour with Sweet Spots Gold.

My approach

Determine D1 = Down
Wait for H1 Green Candle to close (Candle against D1 trend)
Sell Stop at next Sweet Spots Gold level.
Stop Loss - 25 pips
TP - 50 pips

My brain needs to see a Reward/ Risk ration > at least 1.5.
I know I'm going to have loosers where I could have taken 10-15 pips but that is my Money Management.

Did historical eye test (not backtesting) :lol: and have a greater than 50% hit rate

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