Hi the first trade was a loss ( long trade London open ) is that right ?
correct!..so it netted appx 5 pipsâŚthe NY has retraced a bit, but not SL yet.
Got stopped out on the sell side of the NY Open this morning, but had already moved S/L to BEâŚwhew!! It had gone down 10pips within 12 or 13 minutes before rising. Waiting on buy side now. Trying to trust this method.
I am still using 3 pip buffer above and 1 pip buffer below, so the sell trade on NY today is still open, and price has gone back below the NY ref candle. I closed yesterdayâs NY sell trade manually, at about 21 pips profit, just before opening todayâs NY trades. Todayâs London has a buy loss, but a sell win for about 5 pips net.
15 Min Reference Candle? My Arse !! lol
The candle didnât even have a 2pip spread today. Failed in both directions. I did this one live and was very dubious when I saw that it was sat in the middle of a 50 - 61.8 fib retracement and was proved right. The market has been bouncing all day between the fibs.
Yep, the NY was a loser, today, both ways.
Iâll try again tomorrow!
pipcompounder: So, just to be clearâŚdo you take the values of the 15 minute candle at the 13-15 minute mark or wait for it to be completed? Do you wait for the first part of the 15-30 minute candle to be painted for confirmation?
If I understand the setup correctly, hereâs what I have going into the London Open:
Buy @ 1.3074, TP @ 1.3114, S/L @ 1.3061
Sell @ 1.3060, TP @ 1.3020, S/L @ 1.3071
London open is the 1 hour candle, 8-9am local time
Well, crappola! If thatâs the case, then the Sell Entry would have been 1.3055 correct? And, so far, it wouldnât have traded as Iâm showing a low of 1.3056. AND, right nowâŚthe buy side kicked in and is going gangbusters! Manually tracking this and moving my S/L as we go. So, the 15 minute candle is only traded on the NY Open?
Hi pipcompounder: nice sharing⌠i try it right now on EUR USDâŚ
set pending order at 1.3074 and hit my TP 1.3080
by the way it works also with GBP USDâŚ
thank youâŚ
Thanks for the heads up. GBP/USD played out beautifully today on the buy side, going past +40 pip TP @ 1132 GMT. No sell trigger as of yet.
Ok, I was wondering about the âMaxSLâ being only 30 too, thought it was just meâŚ
Also, âRefPipHighâ and âRefPipLowâ are set to 30 and 10, is this correct, or should it be 300 and 100? Another thing: I suggested to add an âOrderCommentâ option, somewhere, as it would make it easier to follow the results in the MT4 Order History list (would avoid giving the broker a hint as to which ea Iâm using, so the comment would only contain something like lbp - short for âlondon pip compounderâ 
Really like this thread, pipcompounder!
The maxSL needs to be 300âŚin other words 30 pips. the refpiphigh and low are only 3 and 1 pips respectively, so 30 and 10 is correct.
Todayâs london trades hit TP pretty quick. NY on itâs way.
We use one hour candles for London open, and 15 minute candle, 8:00-8:15 EST, for NY open.
Historically the NY 15 min candle has just as good win rate using 40 pips as the london open idea, but since the candle is usually shorter, the risk reward is far better, so itâs more profitable. When you look at it on the charts in the past every day, youâll see that most of the time it is peak or valley in price, so we are catching the beginning of the move.
Ibcox- make sure your SL is the exact same price as the entry order of the opposite trade, so they both execute at the same time. The only exeption is if the maxSL is hit, which takes care of itself, if youâre using the EA for the london idea. But even on the NY idea, make the SL the same price as the other orderâs entry.
pipcompounder - OK, thx for the clarification on the candles. Iâm not using an EA right now (not experienced enough), so watching manually. Trying out GBP/USD on demo account this morning. Looks like the ranger is smaller; may have to tweak or just watch closer on that pair.
The NY had opened and lost the sell, but the buy has hit 40 pip TP. The buffers came to good use today as the price came extremely close to opening the buy before the sell was openedâŚso net about 53 pips for both ideas today.
Yes, very good day on both concepts. EA picked up the london open trade and manually traded the NY one successfully. Very awesome.
Ok, and thanks for the extra information regarding the NY session; I guess the reason youâre trading this manually is because the ea canât handle â15 minutesâ (yet), right? Will there be an update that takes care of this? Closing the pending orders after a certain time (and maybe even show a comment in the order history, although Iâve noticed that youâre probably not a big fan of this would also improve this already magnificent expert advisor.
Great job, so far, pipcompounder!
Hey All
I have been using this great little clock which has really come in handy with the manual work on the NY open. In 2 spots, it gives you a countdown of time remaining in the bar. I find it easier to prepare my orders in the final minutes of the bar this way. Indicator attached and image of chart below.
Zipped and scanned this with malwarebytes and avast.
DDFX 1 B-clock_v3.zip (669 Bytes)
Thanks for the clock, looks quite useful!
Well, the London lost both sides, but the NY hit 40 pip TP really quick, netted about 12 pip loss because of London losses. the NY is getting the cake this weekâŚ
London for the week: 13 pips
NY for the week: 104 pips
I think running these two together will get the best balanced return at the end of a given 3 month periodâŚ3 months because usually that gives a good idea of averages by offering enough time and opportunities. London was mediocre this week, but could be very good next week and was very good last week.
NY has very good RRR ratio.
Monday won 40 pips.
Tuesday won 21 pips, just because the trade stayed open until the next session
Wednesday had two losses for -24 pips.
Thursday had one loss for -13 pips, followed by a 40 pip win.
Today (Friday) has the win for 40 pips.
one 40 pip win still netted 16 pips even after a double loss which was -24 pips, - 12 pips each loss.