Scalping The Asian High And Asian Low

[pipless]

i know the local time in UK .... i live there. reading over my last post, perhaps i wasn't too clear. basically, GMT is only the current/correct time in UK from October through March. during the Summer months UK is on BST which is one hour ahead of GMT. for example, I am writing this post just after 5pm in UK (noon in eastern US) and GMT is currently just after 4pm.

[ntrader]

Hi fxoperator.

I'm new on this forum (and on Forex) and this is my first post. Huray!

Alright to business. At first I'd like to thank you for your simple system.
Secondly I'd like to aks a few quick questions (hope you don't mind)

1) What is your S/L? How many pips?
2) What is your Profit/Loss ratio?

Hope I made myself clear. As I said I'm very new to Forex and I don't know many termins you use here.

Thanks in advance.

[fxoperator]

Hi guys, the biggest draw down for this method is 155 pips in two day but individual MM would be different. Today is the 10th winner. Keep on believing, you probably will find gem in this method. Good Night and Good Luck. I've answered most of the questions here.

[orangutan]

Getting a members only error on your link.

[bafukie]

Hi there, just a lil confuse about the time. Currently, London is +1 GMT, so the entry point for GBP/USD is at around 0600 (0500GMT + 1 hour) correct? But if im using Meta Trader platform, i should set the entry point for long/short when the time is 0700? as i noticed that the time in Meta Trader is 2 hours faster than GMT. Please correct me if im wrong as im so darn confuse about the time when i use MT. Thanks

[fiberangel]

Originally Posted by bafukie

Hi there, just a lil confuse about the time. Currently, London is +1 GMT, so the entry point for GBP/USD is at around 0600 (0500GMT + 1 hour) correct? But if im using Meta Trader platform, i should set the entry point for long/short when the time is 0700? as i noticed that the time in Meta Trader is 2 hours faster than GMT. Please correct me if im wrong as im so darn confuse about the time when i use MT. Thanks

MT is just a platform that you use to trade. It's not universal and depends on the broker. Some brokers are GMT +1, some GMT, some GMT-1. You can't just say that you are using MT and ask what time you should use. Go to Qlock - World Clock and download the desktop app that will show you time in any city of the world. Use that to show you time in London and since London is GMT +1 (right now at least) just do your thing when London is 06:00. That's it.

[bafukie]

hey angel, one of the reason i asked about the MT4 time is that i wanna back test the system abit, fine tune my entry point etc etc. So i got abit panicky+confuse when i look at the time frame. But thanks anyway for the qclock. Cheers

[fxoperator]

hi there, been quite a while since I last updated here. I'm on Asian time zone GMT+8, and my country don't have any DST. As long as it is GMT 0500H, you will enter the orders. No change.

[stucros]

Just thought I’d add my thoughts to this London open……. The market as we all know is OTC therefore there is no ‘bell’ and nothing ever officially ‘opens’. I would think of the open in the context of ‘how many people are in’. I would say a typical bank spot trader gets into work about 6.30-7am (London time regardless if it’s BST or GMT) at which they will be ready to take orders that come in and work them but they will also want to catch up with the overnight news, trading range and most probably have a handover call with their asia counterparts. As for hedge funds and other players they come in when they want and probably dependant on the type of day/week.
Anyway I would say the activity from London based participant’s starts at 6 but when really starts to get going is dependant on the day and that is as easy to predict as the direction! Something as simple as tube/train strike could affect the market liquidity!

I quite like the above system and it doesn’t get much simpler!

[goldevil1988]

I noticed as the market suddenly rally or trend downwards as it advances toward london session , there will be a price reversal or retracement .

when the price retraces after a major pip movement , is it advisable to sell ?