Tenapenny
Experienced member
- Messages
- 1,005
- Likes
- 46
London time is the trigger, the trade kicked in 50 minutes ago. 07.20 in UK right now. Clocks go back an hour in UK next week-end.
London time is the trigger, the trade kicked in 50 minutes ago. 07.20 in UK right now. Clocks go back an hour in UK next week-end.
Tenapenny
Experienced member
- Messages
- 1,005
- Likes
- 46
Who's Paul?
For FXDD, do I need to readjust the EA trading hour come next weekend? Thanks.
Tenapenny
Experienced member
- Messages
- 1,005
- Likes
- 46
I would imagine so.
Tenapenny
Experienced member
- Messages
- 1,005
- Likes
- 46
No problem. Just thought there was another pirate about.
Its just the pound being hammered here. Might be a shakeout or stop run at start of London. Lets hope it recovers (and quickly!).
Yes stopped out. Damn.
Was a bit unsure about going long, given bearish sentiment on the pound and the decent rally during the asian session but decided to stick with the system.
jacquespienaar
Junior member
- Messages
- 44
- Likes
- 0
Stopped out - crappy start to the week!!!
bluedancer
Well-known member
- Messages
- 363
- Likes
- 2
I really believe that for trading FMT we need to examine the pre-trade range from 3-5 am GMT before the trade. If it is an up and down range of 20-25 pips FMT is more likely to be good. But if the trading range is 35 or more pips that means FMT, which is a trend following system will be a little more tricky. I closed my trade at +6 pips as we were close to the weekly pivot and price failed to break quickly out of the range I mentioned.
IMO it's best not to fiddle / reflect on possible changes of FMT after just a loss? The strategy was running exceptionally well last week and has been tested in the long run. Also, there is a filter when we're having large ranges before the entry.
I'd agree with that - makes sense to take advantage of past history which is based on actual results - longerterm🙂
Didnt see the weekly pivot there.
Would be interested to see some analysis on whether this would improve the system eg if there is a pivot in the way or major resistance.
On the other hand resistance is there to be broken, probably over complicates it.
I am going to trade this system as a purely mechanical system without any discretion. The last few yrs of results indicate it will be successful as a mechancial system.
I have seen if failed before 07? Does anyone know why this is the case? Possibly a function of a liquidity shift with more volatility at a different time not 1.5hrs before London open.
By the way if anyone wants to check the trading start time look at forexfactory
On the left hand side you will see London link. Click on it. It will tell you how long until London opens, so daylight saving or not, you will not get it wrong, I have seen a milltion questions about this so hopefully it will help.
Cobber
Last edited by a moderator:
