I get easily confused with all the time zones hehehe… in terms of GMT, what is the best time to trade EURUSD?
TIA
Hello PingPong and Vessel18,
If I may, perhaps you put the fixed SL at 50% (this would give more or less 1.25 : 1 RR ratio)? Or 38.2% (1:1 RR Ratio) to give more room for the trade to develop? Ofcourse this might not suit your different personalities, I for one, only put fixed SL when there is a big news coming up (provided if I am in a trade already, holding a profit or loss). But then again, you both traded GBPUSD right, which I can’t exactly comment thoroughly as I never tested it religiously (only logged it 120 trades), perhaps SL should be wider…
Let me suggest if i may, you can dismiss it ofcourse, just use the simple exiting system based on the guideline… 5ema and 8sma exit.
You know what… I hear you. I get it confused ALL THE TIME. Well… statistically, the most profitable signals occurs during the London-US session (lasted few hours) but very few signals comes. London and London+US sessions are the best time. but be wary of big news during those time!
what time does London ses open in GMT?
I can only answer London open 4pm Singapore time… I know that answer doesn’t help. Perhaps the following link could help you. I know, I might be a good-ish trader… but im totally useless in terms of timezones… Forex Market Hours You should take note of DTS as well.
I just entered a buy signal on the Eur/Gbp I pray all goes well lol
Could you include charts buddy so everyone can see :D. Thanks a million.
I will next time but Im at work right now and I can’t do it from the computer on my job. Sorry about that.
MACFIBO EURUSD ANALYSIS 15/3/2012
I anticipated a further drop towards 261.8 during the Asian-London session, but I preferred if price corrected itself and tested 20SMA first (ofcourse, if there was a strong buy signal, I’d ‘invalidate’ this mini correction entirely). It did actually that. The rejection ‘warning’ could be seen from the candlestick… (read steve nison books, its awesome). Price went down from that rejection and completed a 261.8 Macfibo wave. yipee…
I am anticipating on bullish trade today. Every impulsive wave will be followed by a corrective wave… 161.8 recent support is just acting as a guide should intraday price action decides to correct itself (I take Macfibo buy as a confirmation of that action).
tips : Just worth noting, H4 Macfibo hits 161.8 and D1 Macfibo has hit 127.2. Now H1, H4 and D1 are ‘sitting’ on potential exhaustion point. Only potential… let’s look at the fundamentals for the rest of the week.
Happy trading.
I have been studying your strategy. I like it very much, however in reviewing you record of 44 trades I get a different
winning percentage rate. I get a win rate of 68% rather than 53%. 30/44=.68
Agree or disagree anyone?
Yea it is infact 68%… I don’t know how the hell I managed to get 53%… I changed it already… though I haven’t changed the calculation on Excel. Thanks for studying the system. Keep posting and reading. Thanks.
Updated the PDF, available in first page. I know where I did wrong… I calculated 14/30 instead… palm to face
Thanks for posting the chart
Buy signal activated hours ago. I took the Long trade, mechanically TP@ 161.8. I will cut my loss when 5x8to the downside. There… (i apologise no charts, i am on me iPad, not sure how to grab screenshots here).
P/s : do not fear to trade when signal has been activated. Do not fear of losing too… Just stick to the rules.
EUR/USD - I entered this long signal about an hour ago too. Fingers crossed!
Hi mukhi, pull the fib all the way to todays lowest(ptb).
Always exit the trade when 5ema croosed 8sma even price did not hit target. Ok guys…