Quote:
Originally Posted by gojijuice1
fx operator,
i like your system it is close to some of the things i have been doing in terms of price action rather than TA. i have one problem. it concerns the time. baby pips indicates the london market opens at 0800 gmt, you indicated 0600 and somebody else indicated 0500. living in pennsylvania, usa, we are presenlty on daylight savings time. thus, 3:00 am dst is actually, 0700. the entry for 4-16-2007 would have been 1.9937 and on a 15 minute chart gmt would have been at 0845 to 0900, if i am reading all of this correctly?
anyway this trade coincided nicely with (james') buying or selling 15 points prior to the big numbers, 00, 50 etc.
gojijuice1
|
Hi gojijuice1,
London opens at 0800H GMT, I enter at 0500H GMT because usually 1-2 hours before the European session, there will be breakout from the Asian High Asian Low. Trading on the price action is the simplest method, enter your orders at GMT 0500H everyday will do fine. Regarding NY DST, there is only slight difference in the movement.