yeah that’s a noob for you. Didn’t know how to set up the trailing stop on metatrader
of course using the MAs I should’ve gone long about 3am gmt and would be up 50 or 60 pips.
but that would mean staying up all night.
Most brokers you can’t get TS under 10 pips, including Oanda. On the other hand at least last night the system worked perfectly. Just the way it was suppose too. 
Now when you ask… I was being clever and placed my buy order according to yesterday’s high, which was not that far from the beginning of the overnight period. The price stalled right after entering (TP not taken by the peak price). Closed before the dive, + 2 pips.
This would have been a nice trade if I had obeyed the rules to the point…
I also got 12 pips tonight Talon, Demo account in positive territory.
I don’t know what that drop is tonight, it’s not the London open, but I did get about 50 pips of it
If it flattens out I would trade just the flat part of it as the nightly range for the breakout.
Coulda made a killing tonight!
Two winning trades tonight the method (15 pips)and eur/usd (20)at the same time as they mimic each other tonight.I got so much DEMO money i dont know what to do with it.
I will give it a couple more weeks than get back in the pool. (live)I hope everbody had a good morning and everybody have a great weekend.
That was a nice way to finish this week, +40 pips. Today’s pattern followed the one on Monday, confirming that an overnight trend tends have enough momentum to continue in the same direction, and a special move in the overnight period might make it a rather good bet to consider only the latter part of that period.
Summary: I took 4 trades, of which 1 was a winner, 2 losers and one at BE. I skipped Monday because of the trend, but if I would have been able to view it as I do now, that would have one more winner. And that BE trade would have been a winner if I had not been over-cautious in placing my entry.
So, now it was -70 pips. With better trading it would have been a few pips above 0, and trades being equal in money, it would have been 3 to 2 for winning trades.
Now we are starting to see some trending. Maybe the good times are here again?
Yeah would have been a profitable week for the 20/50 I run with 2 trades won, 3 trades lost. I’m going to wait another week to see what price action is like but seems like a lot more movement than for the last 4 weeks.
I will concern myself to the last 3 digits high (.270)low (.200)Interesting this month the points have been hitting the bollinger bands(outer) within the first 3hours except for sept 2nd right now .364(high) .178(low) on bollinger right now, it has some work to do to get to that high.GOOD LUCK:)
Plus 15 pips tonight .201 to .186. Europe just opened and is sitting contemplating next move.
Everybody have a great morning!!!
looks like a good breakout to the downside last night. I made some pips earlier using MAs
anyone here use IBFX ? I think I’m missing some price data from them, I have a price gap during the night and it messes up my bollinger bands
Good morning, guys
Are you still trading the London Breakout Strategy?
I’ve been trading the original version — the first version that Trevor introduced, way back when —
and I’m 8 for 9 over the past 9 trading days.
I want to see another week of positives before I enter though it looks like the GU is returning to early morning moves.
I’m still worried by this whole 3:1 R:R.
Are you using 30:10? that means you’d be at +90:-30 and 1 more loss brings it down further to +90:-60. Or are you trailing by x pips?
I haven’t traded it lately but still watching it every night. Tempted to though.
Are you using a trailing stop as originally sugested by Trevor ?
Yes, did yesterday and still “playing” it, just not every night.
Since 19:00GMT MC detected on M30 and just hit +30pips. Done for tonight.
I got about 30 pips on this up move tonight. what about the breakout, think it will continue up? my guess is it will.
Good morning, SanMiguel, Mike and Oskar
Yes, I’m using 30:10. And, actually, my net is +80 -30 = +50. And another loss would bring it to +80 - 60 = +20.
I have not been trailing my stop, but I’m considering it. Like you, I don’t like the 3:1 upside-down R:R.
It’s good to talk to you guys again.
Clint
Hey, Mike
DailyFX agrees with you: 301 Moved Permanently
I’m expecting a breakout to the upside this morning, as well.
Have you seen this commercial competitor of ours. Type London Sunrise EA in your favourite search engine to have a look. It resembles a lot what we have been discussing here.
I did not find any specific details of that trading system, just general principles:
“London Sunrise EA trades the most volatile currency crosses (meaning GBP-pairs), right as the market goes through its most dynamic, accelerating period (the London market�s first few hours). The EA will be using the breakout from the range established during the Tokyo session as the trigger to our positions.”
There appears to be a live trading statement that is showing decent profit for two months of trading, but two things catch my eye: there is just one huge profitable trade that is out of proportion to all other trades and covers all losses, and then they have dropped the position size right after that trade. Otherwise the losses seem to be much bigger than profits,
and without that huge occasional trade the system would be on loss.
Any comments or deeper views about that system? Could there be something that we could learn of it?