G/U system (untested)

[everyonerich]

1.) http://www.timeanddate.com/worldclock/city.html?n=179

2.) wait until from 7:00am to 9:00am

3.) open Gbp/Usd 15 min chart only

4.) put a vertical line on the candlestick when price starts at 7am EST

5.) put another vertical line on the current candlestick when the time is 8:59am

6.) now you should have 2 vertical lines on your chart, identify the highest high and lowest low

7.) put horizontal lines on highest high and lowest low, like this

8.) buy if price breaks above the box, and sell if price breaks below the box. for stoploss only you can decide....use your logic. takeprofit 15 pips.

 

[tomorton]

Cheers.
I was doing the reverse on the FTSE100 last year. Similar initial stages - identify the early session range, but then identify the direction of this early trading and take contrary direction trade - so if market fell in first hour, go long, if it rose, go short.

I suspect both approaches will work but profitability depends on a limted profit target and disciplined exits from the losers. I also aim to confine reversal trades to following the recent swing trend direction.

 

[everyonerich]

Cheers.
I was doing the reverse on the FTSE100 last year. Similar initial stages - identify the early session range, but then identify the direction of this early trading and take contrary direction trade - so if market fell in first hour, go long, if it rose, go short.

I suspect both approaches will work but profitability depends on a limted profit target and disciplined exits from the losers. I also aim to confine reversal trades to following the recent swing trend direction.

oh.. it seems you are taking retracement if market had smooth trend in the first hour? so how did it go for you? are you still using the same technique

haha.. actually i got this technique from some sellers claim it was 'never lose' system. i probably might post their marketing words/ material later lol

 

[new2fx]

Thanks for this sytem. Is the time gmt +1?

 

[everyonerich]

Thanks for this sytem. Is the time gmt +1?

thats why you can click the clock url i posted earlier, i dont think new york has DST now. if youre talking about server time on your platform, its all varies. ask ur broker what is their server timezone

 

[new2fx]

thats why you can click the clock url i posted earlier, i dont think new york has DST now. if youre talking about server time on your platform, its all varies. ask ur broker what is their server timezone

My broker is Alpari uk, their server time is gmt + 1.
I guess you European open by 7am and london open by 3 am.

 

[bedsit]

There are some similarities with my system which uses range between 12:00 and 14:15 London time.
This one uses 12:00-14:00 London time.
Hope this makes it clear for UK users.

 

[everyonerich]

update : just test this strategy, TP hit with +15 pips, sell order

 

[DionysusToast]

haha.. actually i got this technique from some sellers claim it was 'never lose' system. i probably might post their marketing words/ material later lol

Any system that is for sale is a 'never lose' system.

The sellers never lose when they sell you the system.

 

[everyonerich]

update : TP hit with +15 pips, sell order

 

[everyonerich]

Any system that is for sale is a 'never lose' system.

The sellers never lose when they sell you the system.

i got it for free

 

[everyonerich]

update : TP hit with +15 pips, buy order

 

[everyonerich]

update : SL hit with -26 pips.

 

[everyonerich]

update : TP hit with +15 pips, sell order

 

[everyonerich]

update : SL hit with -23 pips.

 

[tomorton]

Oh my goodness. Your stop-losses are nearly twice your profit. Alright, in time, this all might equal out with a high win ratio. But is there any way the system can run with -
tighter stop?
greater TP?
same initial TP but flexibility to ride longer moves with part of position?

 

[everyonerich]

Oh my goodness. Your stop-losses are nearly twice your profit. Alright, in time, this all might equal out with a high win ratio. But is there any way the system can run with -
tighter stop?
greater TP?
same initial TP but flexibility to ride longer moves with part of position?

i havent decide yet, at the moment just forward testing with demo acc.

update : TP hit with +15 pips, buy order

 

[kraven]

how did this go? are you still trding with it?

 

[everyonerich]

how did this go? are you still trding with it?

hi.. i havent been forward test this method for a while, was busy with other things.