Scalping The Asian High And Asian Low

[fxoperator]

15 pips in another pocket on Friday 13th.

[fxoperator]

Another 39 pips at my back denim pocket. Good start for the week.

[zal3x]

Do you use this sitem only on gbp/usd or have u tried it on other currencies too?

[fxoperator]

I only use it on the Cable. Today made another 15 pips. If you have success with other pairs, do let me know.

[gojijuice1]

Originally Posted by fxoperator

Hi blackcotton,

Right it's KISS. So far this system has yielded 935 pips since the start of the new year 2007. To keep things simple, the entry point is GMT 0500H.

Regards,
FX Operator

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

[fxoperator]

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.

[orangutan]

Just took this system for a test run with a small trade.

Thanks guys, fastest 15 pips Ive ever made!

[fxoperator]

Congratulation orangutan, this week 5 winners out of a possible 5. 100% hit.

[pipless]

When you say 0500 GMT, do you actually mean 0500 British Summer Time? UK is currently on BST which is 1 hour ahead of GMT. Therefore, current time in UK is 1 hour ahead of GMT. Remember that GMT is absolute and never changes, but the time that UK keeps does change. A lot of people seem to think that GMT is simply the time in UK. That is only true for half the year.

Apologies if you are based in UK and know all this already. Just want to be sure on times. Might be helpful if you post a chart with your actual entry and exit bars indicated. Then I can check this against my charts to confirm times.

[orangutan]

One quick question: how do you define your stop losses?

Pipless, a quick way to work out local time relative to England is to put "London current time" into google.