It looks like the conditions for the AU open trade did not line up today (the 3:30pm CST bar closed down), but I will update the board with conditions for the 7am trade tomorrow. In the meantime I hope that you took in great profits from the US bearish move today. I believe that, barring any major news event, we should continue to see the pair rise overall for the remainder of the day.
Good luck!
Is anyone having luck using an automated strategy? If yes, what are you using? BT, I use FXCM Trading Station II with Marketscope so it would be helpful if it usable with it.
Hey Gregg1,
I primarily use MT4 as a trading platform. If you are adept at programming, then you can set up EAs to place the trade automatically for you. Prior to implementing any automated trades, I recommend that you backtest the strategy, and trade it successfully using a demo account to verify that your code is working properly.
After it tests out, I would trade it with a very small lot size and work your way up, once again, as a precaution. If you are satisfied with the results, have at it! 
Alright friends,
The conditions for the 7am trade did not line up this morning and the pair has continued to fall. If you had long orders in for a short-term strategy, you have probably been stopped out…and if you’re hanging in there for a longer-term system to pull out, keep hanging on, I believe you’ll get your chance.
The recent trend has been a bullish US open. Watch closely over the next 30 minutes. The 7:30am CST bar will be very indicative of what the next few hours will do.
I will update the board later with my thoughts on the AU open trade. Good luck, cheers!
Hey friends,
Hopefully your trading throughout the US session proved to be successful. The conditions lined up for the AU open trade today. Here’s the setup:
Entry: 1.3900
Exit: at the open of the 7:30 bar
S/L: 1.3940
TP: 1.3890
I will update the board as soon as the trade ends. Good luck all!
Good evening,
The AU open trade panned out this evening. Here is how the trade played out:
Entry: 1.3900
Exit: at TP of 1.3890
Trade Length: 5 - 30M bars
Profit: 10 pips ($100)
The recent trend has been for the pair to move up slightly before moving down as the London session opens and progresses. For the overnight session, place your long order with a target of 20 pips or so and your short orders with target of 30-40 pips (a trailing stop is ideal in the short selling position).
Looking at this from a H4 perspective, this pair has moved from an up, to a down trend…however, keep a close eye on it with all of the turbulent movement on both a economic and geopolitical scale. This will either prove to be a major shift, or what they call a “fakeout.”
Good luck all, have a great evening! 
Good morning fellow FXers,
If you placed your orders as I mentioned yesterday for the overnight session, you should have awoke to a profit of 50-60 pips ($500-$600).
It looks like a retracement may have begun early this morning during the London session, but the conditions for our 7am trade have lined up this morning. Based on the recent trend, this day will probably close up, but there are still opportunities to make bearish profits in bullish markets. Here’s the setup:
Entry Price: 1.3924
Exit time: at the open of the 11am CST bar
S/L: 1.3984
TP: 1.3904
Barring a major news announcement, this should be a successful trade. We are already near many R1’s and our TP is above most S1’s…right in the middle is a perfect place to enter a trade. Also, the hours leading up the US session have recently been trending down, so we have several factors that may play out in our factor.
Good luck friends, cheers!
Good afternoon all,
The 7am trade worked out in our favor this morning. Here is the break-down:
Entry Price: 1.3924
Exit Price: 1.3904
Trade length: 1 bar
Profit: 20 pips ($200)
To extend your profits, you could have thrown a trailing stop on the trade, but the expanding range of the pair would have probably stopped you out.
Good evening friends,
The conditions line up for the AU trade today. Here is the setup:
Entry Price: 1.3907
Exit: at the open of the 7:30pm bar
S/L: 1.3947
TP: 1.3897
Because the AU open has been moving in a bearish fashion recently, we will probably make on this trade again today. I will update the board as soon as the trade closes.
Good luck!
Well, the AU trade did not reach the TP, but did not hit the S/L either last night. Based on the recent trend in the pair for the AU session to move down, I decided to hang longer to the trade. If you did the same, you should have reached your TP at around around 9pm CST. In addition, if you decided to hang on even longer (throughout the overnight session), you should have seen an even larger profit.
The 7am trade did not materialize this morning, so we’ll keep an eye open for the AU open trade later today. Good luck trading the session today!
Hey friends,
The AU open trade looks like it is going to materialize today. Here is the setup:
Entry Price: 1.3796
Exit: at the open of the 7:30pm bar
S/L: 1.3836
TP: 1.3786
Once again, if this trade does not make by the open of the 7:30pm CST bar, we may hold on a bit longer. I will update the board with details as soon as I have them.
Cheers!
Good evening all,
The AU trade went the opposite direction on us today. However, we still did not hit our S/L. For those of you who are risk averse, you should have exited at the open of the 7:30pm CST bar. Despite the fact that the trend at AU open has changed a bit, I think that we should still be able to make on this trade.
I have increased the target to 20 pips and the stop is now set to 60 pips. Based on recent movement of the London session, we may see a large drop sometime overnight. If not, the bulls have regained control and we are in for a ride again. In either case, tomorrow should be a profitable day.
Good luck all, have a great night!
Hello and good morning,
If you held on to the AU session trade like I recommended last night, you should have walked away with a profit of at least 20 pips during London’s bearish move overnight.
Although the close was just slightly higher than the open, I decided to go ahead and take the 7am open trade this morning because of the recent conditions surrounding the open of the US market. Here is the setup:
Entry: 1.3786
Exit: at open of 11am CST bar
S/L: 1.3846
TP: 1.3866
As I mentioned, based the recent movement around the US open, it is very likely that this will prove to be a successful trade for us. I will update the board as soon as this trade ends.
Good luck all!
Good afternoon folks,
The US open trade worked out in our favor today. Here is how it played out:
Entry: 1.3786
Exit: 1.3766
Length of trade: 2 bars
Profit: 20 pips
As we saw (and have seen), there are bearish profits to be made, even when the market is extremely bullish (as it was today).
I will post in just a bit with my thoughts on the gap trade over the weekend.
Alright friends,
My thoughts are that this may gap down. Look for a gain of around 10 pips and get ready with your long orders if it falls off another 40 pips.
Good luck and have a great weekend!
Good morning all,
It looks like the pair started moving down after the gap, but it gapped up by a significant margin instead of gapping down. A gap the size of the one we’ve just seen about 40-50 pips is somewhat uncommon for this pair (the gaps normally don’t exceed 30 pips in this pair); however, recent world events have driven the pair Friday and Sunday.
The 7am trade did not materialize this morning, so we’ll keep an eye open for it tomorrow. Watch the pair closely to determine the what direction to trade for the next few days. As always, good luck and happy trading!
Good afternoon all,
Our AU open trade didn’t appear today either. In addition, there really wasn’t must movement in the pair to speak of. Be sure to carefully observe the overnight session. I believe that we may see some action during the AU session this evening.
Good luck and cheers!
[B]A BRIEF RECAP[/B]
I just wanted to post a quick recap of the two EUR/USD systems I’ve introduced thus far in this thread for those of you who are new to following it. The first trade aims to take advantage of movement just before the US open. I have named it the “7am trade.” Here is the setup:
Entry: if the 6:30am CST bar closes up, place a short order at the open of the 7am CST bar
Exit: at the open of the 11am CST bar
S/L: .0060
TP: .0020
Historical performance (Since 06/2009):
[I]All profit counts are based on 100k lot sizes[/I]
Net Profit: $6,759
Total Trades: 193
Winners: 143
Losers: 50
Winning %: 74.09%
Average trade length: 3 bars
Average monthly P/L: $321.86
The second trade is one I’ve termed the “AU Open Trade.” The aim of this system is to take advantage of movement at the close of the US session leading into the open of the Australian session. Here are the criterion:
Entry: if the 3:30pm bar closes up, enter at the open of the 4pm CST bar
Exit: at the open of the 7:30pm CST bar
S/L: .0040
TP: .0010
Historical Performance (since 6/2009):
[I]All profit counts are based on 100k lot sizes[/I]
Net Profit: $10,238
Total Trades: 249
Winners: 194
Losers: 55
Winning % 77.91%
Average Profit per trade: $41.12
Average Trade Length: 6 bars
Average monthly P/L: $487.52
As I mentioned in a previous post, backtesting is a fantastic tool. However, these systems are in no way meant to replace basic knowledge of market movement and a strong grasp on TA. My intention in starting this thread was (and is) for experienced traders to share some of their working strategies with those who are just starting out.
In light of a possible resumption of the recent up trend in the EUR/USD pair, I will be introducing a new long system tomorrow. As always, I will keep an eye open for the 7am trade and update the board tomorrow.
Have a fantastic evening all, good luck!
This strategy sounds doomed to fail!
Good evening Sexystochastic,
I appreciate your response. Please elaborate, I welcome all viewpoints on this thread. Thanks and I wish you the best of luck during tonight’s session. Cheers!