11.0 trading sessions

[nanningbob]

Asian session I've racked up some demo dollars:


So far so good

Interesting your lots sizes. WHY?? or HOW??

[nanningbob]

The open indi we have works fine if the right times are entered. Problem is brokers have different clocks and there are different time zones. Putting the indi to GMT is the best answer but now we have to adjust to indi to GMT times. So at the start of each session I am setting my market times and hopefully by the end of the day. I will be fine.

[nanningbob]

Open source codes posted can be used on other forums and elsewhere.

[Jemook]

Asian session I've racked up some demo dollars:


So far so good

Interesting your lots sizes. WHY?? or HOW??

I've been taking 2 trades per pair on a 10k demo:

A: 1% risk entered at the open of new session with a SL at the +20 and TP at the -20 in the direction of the AC
B: 1% risk as follows:

Short Setup

1. Wait for retrace to +10 and enter SHORT via sell limit with a SL at +20 (10 pips risk)
2. Set the TP to -10 or -20 (20-30 pips reward)

Long Setup

1. Wait for retrace to -10 and enter LONG via buy limit with a SL at -20 (10 pips risk)
2. Set the TP to +10 or +20 (20-30 pips reward)

This session looks like it will end with mixed results. From now on I will focus on the B setup only and I will also be checking the H1 previous bar to session open as well as the M15 bar and only enter the buy/sell limits if they are both in the same direction

Cheers,
Jem

[jasa1975]

I tested this in Forex tester 40 trades GBP/JPY profit trades 17 loss trades 23.
10 pips buy/sell stop. 20 pips. sl and 20pips tp . used 1 lot per trade.

net profit -1329.46. dd -2857. profit probability 42%. loss 58% london, new york and tokyo opens

tested the 26 day upto 9/9/2001

anyone else able to put some meat on the bones before i continue? problem seemed to be that even if got the direction right it would pull back and give a last kiss to my SL

maybe im doing something wrong.

Basically testers are crap sooooo ............ try this sometime. Do live trades for a month and then do the back tester. They wont even be close.

Basically back testers lack intelligence. Your tests would not include closing all trades after 2 hours into a session and restarting the next session. Avoiding news. Not trading certain sessions, like audnzd session.They dont include the constantly changing spreads, etc. etc.

well you say that, but i manualy tested this with forex tester whuch does include the spread and i could close trades after 2 hours. i tested london, new york and tokyo opens only on GBP/JPY. Forex Tester is soley for manual testing.

in fact it is pretty good as far as these things. Yes, it can't avoid the news, and it doesn't have that feel of live trading etc but it generally gives an objective sense, albeit a bit blunt of how sturdy a system is. I dont want this to be about testers but I personally like FT, as it has saved me a lot of time in the past.

However forward testing scalping systems like this are quick to test on live/demo and do offer the best results. I look forward to seeing other people's results.

[sudhindragk]

Jem,

Trading JPY pairs only during asian session seems to be the best answer to me. All JPY pairs were bang on target.

Correct me if I am wrong.

Regards
Sudhindra

[SteveHopwood]

For those of you having trouble setting up your session opening thingy, London starts in 17 minutes.

[sudhindragk]

Steve....Thanks that was good confirmation

[Jemook]

For those of you having trouble setting up your session opening thingy, London starts in 17 minutes.

Who is this Steve Hopwood person talking about session times?! Ban him!!

[Jemook]

Jem,

Trading JPY pairs only during asian session seems to be the best answer to me. All JPY pairs were bang on target.

Correct me if I am wrong.

Regards
Sudhindra

Sounds like a good plan! Right now I'm just trading everything to get a feel for things.

Cheers
Jem