Overnight Trading

This is a discussion on Overnight Trading within the Forex Net Trap forums, part of the Specialists' Corner category; At the request of others a new thread to discuss overnight trading. Here is the post I originally posted on ...

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Old May 19, 2011, 9:40pm   #1
 
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Overnight Trading

At the request of others a new thread to discuss overnight trading. Here is the post I originally posted on the daily discussion thread:-

I dont normally have much to add to this forum but I do have experience of overnight trading. Since late 2010 I have been watching and trading 4 currency pairs overnight, on and off. These are EurUsd, AudUsd, AudEur and EurChf. Initially the EurUsd shone through but tailed off in Jan and Feb 11. The AudUsd was a clear winner and whilst isnt doing too bad at the moment the EurUSd is coming back into its own this month.

The best is AudUsd and is currently running at 1402 pips profit this year, followed by the AudEur at 1072 pips.

Ive attached a picture of the bottom of my success/failure sheet so you can see the totals if anyone is interested.

Nick
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Old May 19, 2011, 9:46pm   #2
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Re: Overnight Trading

That's brilliant! What time do you open the trades?
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Old May 19, 2011, 9:52pm   #3
 
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Re: Overnight Trading

zcar started this thread Ok, the 2 Aussies and the Chf I trade at 9pm and the EU I trade at 10pm, dont ask why, thats just how it has evolved and it seems to work.

All the data I have is live data, ie I sit there at 9pm watch the indicators and decide what to do whether I am actually trading live or just monitoring, ie Im not looking back at the data retrospectively in the morning and "fitting the curve".

For Aussies and Chf I use half hour charts. For EU I use both half hour and hour but theres only one trade difference to date with the hour winning once more than the halfs.

Indicators, first I use MA40, MMI and MA60 and check to see what they are doing for the last few hours. In addition I get confirnation from the SAR and Candle colour. SAR is set to 0.02 0.02 0.2. Last two are the MACD and MA. I use these to confirm a rising or falling market. MACD set to 12 26 and MA set to 9.

I'll post up a few shots of the spreadsheet so you can see how its been doing.
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Old May 19, 2011, 9:55pm   #4
 
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Re: Overnight Trading

zcar started this thread Oh, I check Forex Factory too to make sure there are no major overnight annoucements for the AUS. They rarely seem to have an effect, perhaps one in six of the red annoucements might cause a spike, but I generally find its been in my favour.
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Old May 19, 2011, 9:58pm   #5
Joined Feb 2010
Re: Overnight Trading

Quote:
Originally Posted by zcar View Post
Oh, I check Forex Factory too to make sure there are no major overnight annoucements for the AUS. They rarely seem to have an effect, perhaps one in six of the red annoucements might cause a spike, but I generally find its been in my favour.
Many go to forex factory,I personally go to Fxstreet.com because of their technicals and charts. Check it out..
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Old May 19, 2011, 10:00pm   #6
Joined May 2010
Re: Overnight Trading

Great. I am long EU @4313.4 SL30 eyeing up around 4330.
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Old May 19, 2011, 10:06pm   #7
 
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Re: Overnight Trading

zcar started this thread Oh, and if it wasnt obvious from the first snapshot the EU is a 50 limit with a 50 stop, the others I generally go with 50 limit and 50 stop, but Ive been watching a 30 limit 30 stop too. Sometimes the 30INT30 gets stopped out but the extra room of the 50INT40 lets it ride the dip and get some profit. Conversely, sometimes the 30INT30 banks 30pips usually on a rising market then goes down to a loss for the 50INT40.

If a trade hasnt met either its limit or its stop by 19:30 the following day then I usually close it as the 19:30 candle opens then decide whether to open a new trade at 21:00.

Think thats about it, its nothing fancy but it seems to be working. Obviously now Ive gone public with it it is bound to fail on every trade!!! So please do your own monitoring before you invest your hard earned.
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Old May 19, 2011, 10:15pm   #8
 
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Re: Overnight Trading

zcar started this thread AusUsd data first for 30INT30 then for 50INT40
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