It depends on the method you use for trading, or whether you blend methods. For these particular trades, everything is dictated based on historical data. Often times, markets (any market) will have natural biases in a certain direction over a certain period of time. Knowing which direction the bias runs and how to trade that bias will allow you to place trades with a winning percentage that is greater than the losing percentage.
The conditions did not line up for the 3pm GBP/USD long trade today. Next trade: the AU open EUR/USD short trade.
The conditions did not line up for the AU open EUR/USD short trade. That’s all for the day. Have a great evening and I will update the board in the morning. 
Good morning friends,
Hopefully you took advantage of some of the slightly bullish gains to be made last night 
The conditions did not line up for the 7am EUR/USD short trade this morning. We only have 2 trade possibilities today because of the weekend. Next trade: the 12:30pm GBP/USD long trade.
Hi, do you trade this strategy through NFP, is today just a day like any other? I ask as I notice you mentioned proximity to the weekend, but not to NFP.
Regards,
ST
Thanks for the post ST,
Yes, I continue to trade this system through any type of news announcements because, statistically, it all evens out. Of course, monitoring price levels helps in situations like news releases because you can adjust the lot size accordingly. For instance, on a day when I expect exceptional volatility, I might trade with a lower lot size, and when price levels indicate that the trade will move in my favor, I take a greater lot size. This technique in association with a money management plan, allow me to minimize my risk in all conditions of the market.
Hopefully this helps!
Hi, yes, thank you, interesting stuff.
I take a similar approach to news, on my higher TF trading (240 up) I broadly ignore it, on the lower TF stuff I avoid it, but I am different with NFP - I just stay out that day. It give me a day each month for research, reviewing strategies, trading history etc. But perhaps I am just chicken lol!!
Thanks for the response & have a good weekend.
ST
Haha! I understand. The volatility surrounding news events can be quite unnerving. Although having a day per month to review trade history, the market in general, and other necessary variables is always a great idea
You have a fantastic weekend as well!
Sorry for the late update folks. The conditions did not line up for the 12:30pm GBP/USD long trade today. That’s all for this week. Have a great weekend and I will update the board on Monday morning.
Cheers!
Hi TTID. Fantastic thread and your perseverance in updating us with your trade outcomes is to be admired. Thanks for sharing!
I had a small qn. On the AU open trade, is it a goer when open is greater than close or when close is greater than open?
Also what is your SL and TP for the 9.30am GBP/USD trade?
Many thanks.
Thanks for the post masterpip,
I am glad I can help
The AU open trade conditions line up when the 3:30pm CST bar closes up (close > open). Also, on the 9:30am GBP/USD long trade, the S/L: is .0040 pips and the TP is .0020 pips.
Hopefully this helps!
Good morning folks,
Hopefully you had a great weekend and are ready for another exciting week in trading FX
The conditions did not line up for the 7am EUR/USD short trade this morning. Next trade: the 9:30am GBP/USD long trade.
Thanks TTID. What software do you use to backtest and find these trends? What you recommend this to a beginner? I’m currently using IGIndex which is a spreadbetting outifit and not as functional as perhaps others. I’m using spreadbetting software as UK residents don’t get taxed on their FX spreadbetting earnings. Would be good fot me to find other such trands and share with you for your thoughts.
Also, 9.30 looking good to go long. Currently, my candlesticks are showing the midpoint betweem bid and ask. Are your 30m candlesticks based on this too, or ask, or bid?
Many thanks for the wise words
The conditions lined up for the 9:30am GBP/USD long trade this morning. Here is the setup:
Entry Price: 1.5673
Exit: at the open of the 6:30pm CST bar
S/L: 1.5633
TP: 1.5693
Based on current price levels, I recommend placing this trade at a lower lot size.
Happy trading!
I’m in at 1.5674, 10 seconds too late perhaps. hopefully. this won’t make too much of a difference!
For a beginner, using the basic tools available in the MT4 platform will certainly suffice (this will help you to master the basics). Learning how to read price action is the single, most important tool that you can have in your “tool belt.” For statistical analysis I use quantum charts and then trade the systems using the MT4 platform.
Hopefully this helps!
The conditions did not line up for the 12:30pm GBP/USD long trade today. Next trade: the 3pm GBP/USD long trade.
The conditions did not line up for the 3pm GBP/USD long trade. Next trade: the AU open EUR/USD short trade.
Sorry for the late update folks. The conditions did not line up for the AU open EUR/USD short trade today, but we are still in the 9:30am GBP/USD long trade for another 30 minutes.
Good morning all,
Sorry once again for the late update, but the 9:30am GBP/USD long trade did not reach S/L or TP yesterday (due to price levels, we took this trade at a lower lot size).
Also, the conditions did not line up for the 7am EUR/USD short trade this morning. Next trade: the 9:30am GBP/USD long trade.