ic thank a lot i will try it again …million thank keep cheer…
Hello friends,
The conditions did not line up for the GBP/USD trade today. I will update the board in about 45 minutes on whether the stipulations line up for the AU open trade.
The conditions lined up for the AU open trade today. Here is the setup:
Entry Price: 1.4325
Exit: at the open of the 7:30pm CST bar
S/L: 1.4365
TP: 1.4315
Good luck!
Good morning all,
Hopefully you took advantage of the bearish gains to be made in last night’s session. I apologize for the late update, but the AU trade yesterday worked out in our favor. Here is how the trade played out:
Entry Price: 1.4325
Exit Price: 1.4315
Trade Length: 6 bars
Profit: 10 pips ($100)
The conditions did not line up for our 7am trade this morning however, my suggestion is to utilize support and resistance throughout the day in the EUR/USD pair and you should walk away with a solid profit ;). In fact, keep in mind that we are near the new year’s high. My advice is to place a sell on limit order 10 pips below the high with a stop 30 pips above your entry and a TP of at least 20 pips.
Good luck all, cheers!
Hey guys,
Sorry for the late update. The conditions for the GBP/USD trade lined up today. Here is the setup:
Entry Price: 1.6317
Exit: at the open of the 5pm bar
S/L: 1.6287
TP: 1.6327
Good luck!
The conditions also lined up for the AU open trade today. Here is the setup:
Entry Price: 1.4308
Exit: at the open of the 7:30pm CST bar
S/L: 1.4348
TP: 1.4298
Happy trading!
The GBP/USD trade did not reach our TP, but it did not reach our S/L either. Here is how the trade played out:
Entry Price: 1.6317
Exit Price: 1.6319
Trade Length: 5 bars
Profit: 2 pips ($20)
Alright, the AU open trade played out in our favor today. Here is how the trade played out:
Entry Price: 1.4308
Exit Price: 1.4298
Trade Length: 4 bars
Profit: 10 pips ($100)
Keep in mind that we entered a time of expanding range for a good portion of the US session, which means that the pair is more likely to make volatile swings. The pair moved past the year high this evening, but keep an eye on it throughout the night session, because there will likely be a decent shorting opportunity.
Good luck all, and good night!
Good morning fellow FXer’s,
The conditions did not line up for the 7am trade this morning. I will update the board later for the GBP/USD trade. Good luck during the US session today!
The conditions did not line up for the GBP/USD trade this afternoon and, as usual for a Friday, there has really not been a lot of action today. I will update the board with my thoughts on the gap later this afternoon. Although, this weekend may have an excessive amount of risk associated with trading a gap due to possible news events (US government shut-down…etc).
Alright friends, my thoughts are that the EUR/USD pair will gap up. However, I do not recommend trading the gap at all because of the possible risk associated this weekend.
Now, it is time to take a brief sabbatical from placing trades and get ready for next week’s action. Have a safe weekend and I will talk to you all on Monday.
Cheers!
Hi
I wrote an ea for 7.00am us central time strategy. I backtested it from 2000 to the present and it was a real loser from 2000 to July 2008. From that period it has been a winner until November 2010, when there was a downturn for the worse. This correlates with the trend in the EURUSD which from 2000 to mid 2008 was in a long bull movement. From then basically its been bearish, until recently from about 11/2010 we’ve been in a bullish mood although this could be only a pullback. Your method only works in a bearish trending market. I’ll write an ea for the aussie market as well and see where that goes.
Hello SimonDay,
Thank you for your contribution. Was your EA based on tick data or on the open/close of the bars. Also, was your testing based on CME time. From the period of 2001 - current, my back testing shows a pretty consistent trend. In addition, the live traded results mirror that of the historical (simply review the posts for the strategy that have been made on this thread thus far). Finally, back testing using MetaTrader can yield very inaccurate results because the free data provided by most brokers is somewhat “spotty” at best.
Have a great day!
Good morning all,
The conditions did not line up for the 7am trade this morning. In addition, the gap over the weekend moved in the opposite direction, likely because the US government shut down was averted (which is why I recommended that we not trade the gap this weekend).
The next trade today is the GBP/USD trade. I will update the board later on.
Good luck throughout today’s session. Cheers!
Hi Tradetildie
CME is Chicago Merchant Exchange time I presume. This is Central Standard Time in the winter and Central Daylight time in the summer, am I correct. I’m using CET on Alpari servers. The date changes for CET do not correlate exactly with CST date switching which brings problems. I am new to mql4, but not to programming, so I’m trying to figure out a way to correlate the dates exactly which is congruent with the date shifts for daylight saving.
Regards
Simon
Completely understandable. I have also found that the best way to get more accurate results when creating/running EAs for backtesting is by purchasing data separately and loading that instead of running the broker’s supplied data (which, as I mentioned before, can be extremely lacking). In addition, your parameters must reference the open and close of bars because MetaTrader by default looks for function creation based on tick data rather than O,H,L,C.
Thanks again for the reply. Good luck!
Good afternoon all,
The conditions did not line up for the GBP/USD trade today either. I will update the board later with a status on the AU open trade.
The conditions lined up for the AU open trade today. Here is the setup:
Entry Price: 1.4434
Exit: at the open of the 7:30pm bar
S/L: 1.4474
TP: 1.4424
Good luck!
Cool! Thanks for the signal… Keep it up! 
No problem quicklinks, thanks for posting! 