Win ratio

[Clint]

Originally Posted by daydreamer65

No question just a statement, looking at the chart below.........

Your chart is 6 months out of date.

Look at the eastern time zone (U.S. and Canada) on your chart. Your chart says GMT-5 hours. That's true in the winter, when we are on Standard Time. During winter our eastern U.S. time zone is called EST (Eastern Standard Time).

Currently, we are on Daylight Saving Time, and EDT (Eastern Daylight Time) = GMT-4.

Britain and Europe are also on Daylight Saving Time.

The current time zone in Britain is BST (British Summer Time) = GMT+1 (not GMT, as your chart says).

And the current time zone in Central Europe (Paris, Berlin, Zurich, etc.) is CEST (Central European Summer Time) = GMT+2 (not GMT+1, as your chart says).

This might help you: timeanddate.com

[Clint]

Originally Posted by SanMiguel

Oh, I thought you were trailing by 10pips.
So, are you doing 30SL/10TP? In which case, here are the results since March 29th if you're interested (roughly 80:20 wins)

No, I don't use a trailing stop.

Yes, I enter with a 30-pip SL, and a 10-pip TP.

I haven't taken a loss yet, but I have had the price move against me by about 10 pips on two occasions. When that has happened, I have had my finger on the button, ready to exit if it goes further against me. If and when a loss comes, I expect it will be less than 30 pips, because I just won't let it run that far.

As for your theoretical 80/20 win/loss ratio, I like my actual 100/0 results much better.

Clint

[Oskar]

Originally Posted by Clint

Your chart is 6 months out of date.

Look at the eastern time zone (U.S. and Canada) on your chart. Your chart says GMT-5 hours. That's true in the winter, when we are on Standard Time. During winter our eastern U.S. time zone is called EST (Eastern Standard Time).

Currently, we are on Daylight Saving Time, and EDT (Eastern Daylight Time) = GMT-4.

Britain and Europe are also on Daylight Saving Time.

The current time zone in Britain is BST (British Summer Time) = GMT+1 (not GMT, as your chart says).

And the current time zone in Central Europe (Paris, Berlin, Zurich, etc.) is CEST (Central European Summer Time) = GMT+2 (not GMT+1, as your chart says).

This might help you: timeanddate.com

daydreamer:

EAGLE EYE Clint won't let you slip buy, don't even try.

Clint: I noticed (even with my "blind eyes") you pay attention to details and ketch em, hope you never where a cop, we would be all in deep sh$$$$t

[Clint]

Originally Posted by Oskar

Clint: I noticed (even with my "blind eyes") you pay attention to details and ketch em, hope you never where a cop, we would be all in deep sh$$$$t

Not to worry, my friend. Am not, and never have been, a cop.

I stay as far away from cops, lawyers and politicians as I can.

[Oskar]

Originally Posted by SanMiguel

It's a little indicator I found for the NY Big Dog strategy but I edited it a bit to change the times for this one.
It's attached here.
When it opens up go to the Inputs tab and change the end time from 07:00 to whatever you need, it will count 10 candles back.
I took a whole load of stuff off it with other lines and things it was drawing...

SanMiguel,
I have a request, I like the work-hour timer but would like to know if it could be turned around. Meaning it would start filling from the left (~18:00) till it hits whatever (~04:00) time-frame somebody chooses.
Right now it waits till end time comes around and then shows it all.
I changed the fields with a minus in front of the numbers and let it start at 18:00, that works, but then it would not show the highest/lowest candle-number of that time-frame.
It would be already a good EA for Trevpicks system, which works really well so far.
Thanks, appreciate your time.
Happy 4th to all.

[Oskar]

Originally Posted by Clint

Not to worry, my friend. Am not, and never have been, a cop.

I stay as far away from cops, lawyers and politicians as I can.

thanks

[Clint]

Forex volume is slowing way down, ahead of the U.S. holiday tomorrow. But, I'm going to look for one more trading opportunity, using the G/U Breakout Strategy tonight (midnight EDT), for the following reasons.

(1) Breakouts have been occurring roughly between the time that Zurich opens and the time that London opens, five to six hours before New York opens. In other words, I think U.S. participation in the buying/selling pressure which causes these breakouts is minimal; and a U.S. holiday should have little to no effect on this strategy.

(2) The Services PMI (Purchasing Managers' Index) will be released in Britain at 4:30am EDT (8:30am GMT, and 9:30am BST). This is considered to be a high-impact report (for GBP pairs) according to the Forex Factory Calendar. Here is what they say about it:

Services PMI

Why Traders Care: It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy;

Derived Via: Survey of purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories;

There may be some price action prior to the release of this report, as traders adjust positions.

So, maybe tonight we'll get one more bite of the apple, before the long weekend.

Good trading tonight,

Clint

[xtensive]

Do you wait for the midnight EDT candle to close or is this at the start of the midnight EDT candle?

Mike

[Clint]

Originally Posted by xtensive

Do you wait for the midnight EDT candle to close or is this at the start of the midnight EDT candle?

Mike

Hi, Mike

Any time shortly after midnight EDT is fine. I have placed entry orders as late as 12:30am, without missing the move. In general, the breakouts we are hoping to trade occur closer to 2am EDT, sometimes closer to 3am.

I use a 5-minute chart --- I like the 5-minute chart because it provides more detail than longer time-frame charts. So, in my case, if I place my Entry Orders anytime after 12:05am EDT, the midnight candle on my 5-minute chart has closed.

But, you could use any time-frame you like. If you were using, say, a 30-minute chart, then if you placed Entry Orders a few minutes after midnight, your 30-minute midnight candle would still be open.

This strategy is based on the interim High and the interim Low in a 10-hour period (from 2pm EDT to midnight EDT), so a few minutes one way or the other at either end of this time period usually won't make any difference.

Also, keep in mind that IF the period High (or Low) happened to occur right at midnight (EDT), we would not place an Entry Order based on that High (or Low). Why? Because we can't evaluate the strength of that High (or Low) until we see what the price does over the following half hour or hour.

I hope that answers your question.

Clint

[xtensive]

I hope that answers your question.

Yes Clint, thank you very much! I've been watching this strategy on the EUR/USD and it seems to be doing quite well. Good luck with the GU tonight!

Mike