Hello Folks,
Out of interest, who trades the London open?
If you do, how’s your performance been recently?
In short I’m finding in the past month follow through from the London open has rapidly deteriorated; leading to higher false breakouts than normal. Are people finding a similar thing am I in my own boat here?
Regards,
CPY
Ever wonder why MA crossovers don’t work any more ? Head and shoulders ? Breakouts ?
When too many people get to know something successful, It stops working.
But yes, I do keep an eye on it and yes I have noticed.
@cpy The markets are in a consolidation phase and have been so choppy these last few weeks (especially February), its getting to the point that placing a BUY and SELL (at the same time) for a couple of pips each direction is almost a viable strategy…
Should try it on a few pairs with a Demo at one of the London Open breakouts, 7-11 pips each way… (N/A to US Traders)
Bad result… $0 less commission, average result will be 5-7 pips, great result will be 18-20 pips…
Edit: Over the last week or so the EURUSD (1H) has trended in the one direction for a few hours after the LO…enough to garnish a profit…
Just ran an experiment using a Bot for a 3 hour period on the 10 tick Chart… ~2 Hours prior to the London Open and 40 mins after the Open.
5 Pip (hedged) positions (0.1 Lots) with a BUY and SELL opened each time a position closed.
In the 3 hours the GBPJPY pair ranged across 26 pips with 19 x 5 pip positions closed in profit ($84.00) and no losses which also left 3 unfilled positions subtracting $17.00 when Close All was hit at 19.46pm… (9.46am GMT.) See Below
Some pairs are so bound at the moment, you can trade both directions and still profit…
Thanks for the thoughts @Trendswithbenefits! As much as it’s not ideal for any of us trading the LDN Open, I take comfort in knowing I’m not in my own boat.
It’s an interest thought what you mention! Although I haven’t hedged yet, week by week I’m going from 30m charts, to 15m charts, to 5m charts…
Volatility seem so flukey on open at the moment.
