Scalping The Asian High And Asian Low

blackcotton · #1 (**permalink**) 04-03-2007, 09:03 AM

This is what I have found on a forum I spend my time mostly, it`s very simple a.k.a. a "KISS" system(many review KISS as Keep It Simple Strategy, I like to refer to it as Keep It Simple, Stupid !

lol)
I discoverd it on monday(yesterday) and made 15 and 27 pips on yesterdays and today`s tradeing useing it!
DA SYSTEM!
This is my trade for today on the common sense trading logic using High and Low. If you have been trading, or at least immersed yourself with Forex trading for a while, you should notice that the least volatile period for the majors excluding Yen belongs to the Asian session. During this period, the price action for the Euro and Cable moves like snail and operates within a narrow range. The volatility will come back when it is near the European open and that is where I get ready to aim for a good scalp. Here's how I did it today:

At 0600H GMT, we can determine the Asian High and Asian Low of the Day by then. Today, in case of Cable was at the High of 1.9324 and Low of 1.9268. With the price action moving at a slower pace waiting for the big players to come in, set a buy order at the Asian High and a sell order at the Asian Low of the Day. Setting orders using this method will usually yield at least 10 pips for you without much sweat. As you can see from the chart on GBP/USD, my sell order was hit at the Asian Low and then rallied all the way down to 1.9220. Regarding the take-profit, depending on your lot size, you can opt to take-profit at TP1 or wait later for the hourly candle bar to materialize to take profit at TP2. This depends on your risk/money management. The key point here is to take note of your entry.

fxoperator · #2 (**permalink**) 04-07-2007, 11:07 AM

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

blackcotton · #3 (**permalink**) 04-07-2007, 01:27 PM

Quote:

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

HAy, hope you don`t mind me posting your system!

I have a few questions!
Example #1 you placed the highs and lows, one triggered, took profit, closed, what to do with the other one?
Example #2 you place the high and lows, one triggered and reached stop loss, closed, what to do with the other one?
Example #3 you place the high and lows, one triggered and (in a range market) reached the other trigger without TP or SL....what to do with both of the positions?
Thanks!

fxoperator · #4 (**permalink**) 04-07-2007, 11:50 PM

Hi bc, ok here are my answers to your questions:

Example #1 you placed the highs and lows, one triggered, took profit, closed, what to do with the other one?

I will cancel the other order if the first triggered is profitable.

Example #2 you place the high and lows, one triggered and reached stop loss, closed, what to do with the other one?

If the initial order is triggered and stopped out, stick with the second order and let it triggers if it should.

Example #3 you place the high and lows, one triggered and (in a range market) reached the other trigger without TP or SL....what to do with both of the positions?

Alright, this is a bit complicated, if the SL is wider than the range to the other pending order, set your SL to the High or the Low on the opposite, when the SL is hit, the second order will be triggered as well.

Please note that all this can be adjusted to your own money management. This key is the entry point of this method.

fxoperator · #5 (**permalink**) 04-08-2007, 04:57 AM

My apologies. I didn't see any violations link here. Let's get back to the main subject.

mdietrich · #6 (**permalink**) 04-08-2007, 02:21 PM

I was going to say this method seems a little like the SRDC simple method I saw on another forum. Basically check the previous days high and low, if the new day breaks one way or the other enter a trade in that direction.

I also was able to finally find the second half of SRDC Episode II on your site, which has been holding me up from exploring that system and level III more thoroughly. Glad to have found that.

fxoperator · #7 (**permalink**) 04-08-2007, 07:10 PM

Quote:

Originally Posted by mdietrich

I was going to say this method seems a little like the SRDC simple method I saw on another forum. Basically check the previous days high and low, if the new day breaks one way or the other enter a trade in that direction.

I also was able to finally find the second half of SRDC Episode II on your site, which has been holding me up from exploring that system and level III more thoroughly. Glad to have found that.

Glad you found what you want.

Seriously, I didn't notice any similarity until some of you told me about it and the hans system as well.

I realized one thing from this, until a method is "created" by oneself, else, it is hard to follow religiously. Just like a woman, you can't force me to like her if I don't love her at all. Well, I don't mind a fling, but it won't do me no good in the long run if I don't have the faith and trust in her.