Hi people.
The London lunch time straddle trade.
Pair=GBP/USD among others.
CHART 15 MIN.
13;15 G.M.T
RULES;
Wait for the last minute of the 13:15 G.M.T candle.
Place a BUY STOP at the top of the 13:15 candle. With a 3 pip buffer.
Place your stop loss for this order at the bottom of 13;15 candle.
Place a SELL STOP at the bottom of 13:15 candle. With a 3 pip buffer.
Place your stop loss for this order at the top of 13;15 candle.
If stop is hit let the opposite trade open and trade to break even.
Some days both stops are hit resulting in a double loss of the candles range. These do happen accept it.
If the candle is large REDUCE YOUR LOT SIZE.
Take profit is up to you.
Often price shoots up +15 then shoots the other way 70+
Trailing stop works sometimes but not others.
One thing is certain the market is going to go somewhere at this time of the day.
The big boys in the U.S are coming out to play.
Remember, don’t be greedy, +10 is better than -10.
WIN DAY.
BREAKEVEN DAY.
LOSER DAY.
