I’m having good results with the Sydney/Asian time frame. I would appreciate any feedback on using this time period. I live in the PST West Coast USA so the session is at a better time frame. Often the best trades are around 1 am EST or 10 pm PST.
The currencies back tested for March were. A winning record for all during the Sydney/Asian Market. Is the London market considered to be the best time to trade?
eur/usd
gbp/usd
nzd/usd
eur/aud
usd/chf
aud/usd
thnx for the input.
Mukhi,
What do you think of trading these pairs during the Sydney Asian session?
Greg,
so far i have tried only euro and gbp in asian and London session… so far so good. happy with the system
Hi Steo,
Sorry I misunderstood your question. I use FxPro for the iPad as GoMarkets iPad platform (broker that I use) doesn’t have the fibo feature (very weird If you ask me). But FxPro doesn’t have the extension… what I did was I pull the fibo from Pt A and Pt B… then move the fibo at point B, and mark price at 61.8 as 161.8. I hope that helps.
I regard Syndey-Asian session as ‘Asian’ session, so whenever I said “asian session” i was referring to Asian-Session and Asian-only session. Depending on DTS but I start looking for breaks roughly between 8am (asian open) til 12 am (london close).
Thanks for reading the thread. Keep posting buddy.
It is for exit signal (some who uses fixed TP, sees it as exit warning).
For EURUSD, based on my logs since 2009, Asian-Sydney and London session have the most trading signals, with London session has better winning ratio and has better difference in AvgWins-AvgLoss compared to Asian-Sydney session. London-US session got good % as well but very very very few signals there.
Based from that statistics, I would say London and London-US sessions are the best time to trade. Having said that though, Asian-Sydney session got more signals than London, London-US session.
MACFIBO SYSTEM UPDATE 17/3/2012
There were two tales of EU Macfibo yesterday. One a loser, one a winner (and bigger at that :D). As I mentioned earlier, I will put fixed SL at 1:1 whenever there will be Europe or US related news. US CPI got history to move the Dollar 30-50 pips within the hour (sorry not to mention this in 16/3/2012 update… 100 pushups!!).
I entered a sell trade, having realised there will be US CPI news later that day, I set my TP the same amount of my target. It was a good decision too.
How a positive US data retreats the Dollar? I have no idea guys… fundamental is not my area of expertise (learning though). What I know, news moves currencies… both short term and long term. Anyhoo, the chart told me to Long the EU… and that exactly what I did. Price hit 161.8 with panache.
Two tales of Macfibo… at the end of the day, Macfibo made me net 20+ pips yesterday. And that is good!
MACFIBO STATISITCS FOR 2012 (Updated 17/3/2012)
Average Loss : 26.1
Average Win : 36.3
Net Profit (in pips) : 709
Win : 31
Loss : 16
Winning % : 65.9%
I paper traded/forward tested XAUUSD pair with Macfibo (SL 1:1). I love the price action in this beast. I am very interested in trading this method with XAUUSD. Obviously it is risky… I was risking 90+ pips to get 90+ pips… Was it a good idea? I am testing it still… so far… well, it looks good… but every system looks good in the first 20-30 test trades anyway…
But just take a look at that Doji candle as it hits 161.8… terrific!
KEEP POSTING YOUR TEST RESULTS :o MANY FOLLOWING YOUR SIMPLE SYSTEM
GOOD RESULTS FOR ME SO FAR…
Will do buddy…
Quick question on your XAUUSD chart. Have you placed your point A later than usual? If so, what is the thinking behind that? If not, maybe I’m misunderstanding the rule.
Thanks a lot for continuing to post. I think we all appreciate your replies.
I’m having some good results using your system, although I entered a short trade on GBPCHF late London session yesterday which looks like going the wrong way Monday morning. I know we can’t win them all! What are your thoughts on entering trades shortly before the weekend close?
Steo, I use a dummy account with T.Interceptor for charting on iPad. Unfortunately, I can’t attach any samples here, and I rarely use my desktop anymore, but it may be worth you checking it out as well.
hi sufian
tks for the replies again. great work and look forward to ver 2.0. thanks for sharing with all of us.
cheers!
hi vessel
u mean you can do all those on the TI as per on a PC? let me check it out. tks!
cheers!
Hi vessel,
I put my Point A exactly where it should be : close price when 5 crossed 20sma. I rarely open a trade right before weekend close, infact I dont open trade when signal occurs after london close everyday. I hope that helps.
I did a little research on the one hour eur/usd with macfib. I did not do it exactly with fibs, just if the trade went in the right distance with a reasonable stop. Estimated.
from 2/3/12
37 signals
26 winners
70%
Next I divided into three time groups.
1 am to 6am EST. 11/14 78% London
7 am to 5 pm EST 6/12 50% New York
5 pm to 12 am EST 9/11 81% Sydney/Asian
So if one trade just Sydney/Asian and London the result would have been about 80%. Conclusion, avoid trading the New York market after 7 am EST to 5 pm EST. This confirms Sufain’s results for the London market and looks to show that the Asian market has good potential from 6 pm EST into the London market. These are only estimates and are not precise. Please share feedback, critics welcome. It is likely that a precise backtest would have been close to Sufain’s results due to stops.
Got it - I misread it, user error!
Greg Jones in post #177 got me going, so I had to do some checking of my own. This is what I came up with.
NZD/USD EUR/USD
Asian thru London open 6 wins 0 losses 7 wins 1 loss
London thru NY open 6 wins 2 losses 3 wins 2 losses
Total 12 wins 2 losses 10 wins 3 losses
85.7% wins 76%
Combined Total 22 wins 5 losses for 81.5% wins
This is fantastic!!! although this is only for the last 3 weeks from 27 February thru 16 March. I didn’t have the time to do the checking that Greg did, what with watching the NCAA tournament while doing this, so don’t expect it to be error free.I set up a small account where I can trade pennies at a time to see how this really does come Monday. I prefer to have real money rather than a demo on testing, it is more realistic. Also since I live in Nevada these hours are better for me to trade (Asian). Anyway come next week I’ll be checking this out.
Dave
That post looks terrible. If you don’t understand it heres what it should be.
NZD/USD
Asian thru London open 6 wins 0 losses
London thru NY open 6 wins 2 losses
TOTAL 12 wins 2 losses for 85.7% wins
EUR/USD
Asian thru London open 7 wins 1 loss
London thru NY open 3 wins 2 losses
TOTAL 10 wins 3 losses for 76% wins
Combined total 22 wins 5 losses for 81.5% wins
hope this turns out easier to read.