Thats sorted then 
With that set, I assume you first took a hit on cable just before London open.
Is that correct?
The daily open is the bottom line. The weekly open is the top line.
Once you get away from the âMythsâ and âIllusionsâ crowd, youâll realize how simple trading can be.
We are talking about trading and real money is at stake. If a shortcoming exists then it needs to be exposed. Most of the time, traders are fooled into believing an âillusionâ and in the end, they join the 95% clubs of losing traders. You believe my stance is âderogatory/condescendingâ? Is that because I debate with logic and reason showing the âillusionsâ and âmythsâ for what they are?
There is no âillusionâ trading the weekly open, daily open, and previous weekâs high/low. As previously stated, I have no ego involved in price values that I have no control over. This is trading, up/down and profit/loss, ego doesnât fit into any trading equations.
By no means am I claiming to have invented anything here. Many systems are based on open price crosses and high/low breakouts. There are most likely many systems or methods that look like what I am doing. Great minds do think alike. 
What is a âwhipsawâ?
Price moving zig-zag at random both up and down taking our blood pressure along with it, showing no signs of which way it is poised to move, just like the blades of âwhipsawâ that is used in Lumber Industry to cut huge trees ! Now no awards for guessing who is holding the handles at both ends. Bulls & Bears Of course 
Regards,
Muthu.
Chennai.
India.
Will reply in the off topic section to keep things on track
Your assumption is incorrect. When did the USD gained, yesterday? It was during NY session.
My rules are simple. Enter in direction of dominant flow when price is below / above weekly+daily open. Weekly open is my signal and daily open is my confirmation. No other entry rules apply.
I placed seven trades last week applying above entry rule set and had seven winners ranging fron +9 pips to +100 pips.
Was it luck? I donât think so because dominant flow of price changes direction twice within a week in present market conditions and what I am doing is simply exploiting this bi-directional change of dominant price flow with two simple entry rules and four lines drawn across a 1D chart.
Managing those trades of mine is a different matter. I have got my own individual play book designed because every pair is different and needs to be managed individually once I have pulled the trigger. You canât manage a GBPUSD trade the same way as a EURUSD or a AUDUSD trade for instance. If you do that you will be stopped out very quickly because of volatilty and price behaviour patterns.
Entries are easy. Risk and trade management is where individual trader skill comes into play. Thatâs the âArt of Tradingâ.
I understand.
So you focus on the major sessions (London/NY)?
By the way, I apply the same method with one slight change. Instead of the daily open, I use daily extremes as entry points.
Pardon my intrusion but how could you have had a win of 9 pips, your stop has to be atleast 10 to 20 pips?
your stop has to be at least 10 to 20 pips?
Why do I need a 10 pip stop?
Hi Xtraction,
Thank you for sharing your methodology. Iâm a newbie and Iâve just completed the babypips lessons so Iâm basically still in the âbeginner phaseâ and would be thankful if you could kindly help me understand your system by answering the following questions even though it may seem obvious to other the seasoned traders participating in the thread.
1)How long have you traded this system (weekly open cross one), reason i ask is Iâm curious to know if youâve actually trade it for atleast a few years. Which would basically mean its robust and works in different market conditions.
2)Do you really make 4% a day!! If you actually do and have been trading it for even a years your a millionaire many many times over. If thatâs the case what are you doing here at Babypips?
Do you honestly make 4% a day or did you say that just to encourage us (which is a good thing too)
3)Different brokers have different weekly opens. For example IBFX and FXDD weekly open differs by an hour. Its the same for the daily open alpari uses CET time, IBFX uses GMT other brokers use different daily opens. Which one do you use? Can we use any broker time or will using different times turn the system into a loser in the long run?
4)Lots of places iâve read the exit is as important as the entry. Youâve mentioned you close half your position at +50 pips move your sl to BE and put in a trailing stop.
Does this mean if you donât hit a +50 you lose the trade, if this is the case wouldnât you have many more losing trades than winning trades?
How do we know when and how to exit. The problem Iâve faced while trying out this strategy is if I aim for 20 pips often times i miss the big moves, and thats depressing as I havent let my winners run as you said.
On the other hand if I aim for 50 pips most trades never reach that target and Iâm stopped out a lot.
Could you please share your recommended exit strategy in detail ?
thank you for your time & all youâre doing
the reason i said that is because he mentions 20 pips gives him 4%, and Iâve assumed 20 pips would also lose him 4%
I will tell you how I look at these trades. The price points we are looking at can be points when volume spikes, that makes the market move. Which way will it move? I donât know.
I enter like I would with a scalp trade, that is with a really tight stop. price may bounce and take me out but Iâm not out that much. If it comes back I reenter. If it blows through and keeps going great move up the stop and see how far it goes before it slows down. Or close at a modest profit, might only be a few pips but with a tight stop your lot size can be fairly large and still stay within your MM.
I wouldnât bet the farm on any of these entries they are to unpredictable. Once a move gets going from a weekly open line it may get some momentum thatâs what you want to catch. I have been trying this with trailing stops with limited success. The real key here is what you do with your trade once its open and that depends on your take on what is happening before your eyes as the trade plays out. Some good advise is to make a âplay bookâ to manage these trades.
Agreed.
Post #95 in this thread leaves no doubt about it.
Taking an ATR print of each pair you are looking to trade helps with trade management and stop placement. In thread Technical Templates Continued apache rider and crosshairs had a conversation about it. I prefer 5-period ATR prints.
4 lines.
4 pairs.
EURJPY;USDCHF;EURUSD;USDCAD.
Wait.
Boing.
In a couple of days.
Boing.
Simple.
âMy rules are simple. Enter in direction of dominant flow when price is below / above weekly+daily open. Weekly open is my signal and daily open is my confirmation. No other entry rules apply.â
In a later post you say â4 lines, 4 prsâ - what other 2 lines besides Weekly Open, Daily Open? Sorry if this is redundent but I didnât see a comment regarding you using another pair of lines. Thank you for your input. d.
He mentioned them in post #178 5 pages back;
Theyâve also been highlighted more than a few times throughout the thread.
thank you. d