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| Author: | nanningbob [ Wed Oct 01, 2014 12:50 am ] |
| Post subject: | 11.0 trading sessions |
1. OK here is how I will solve the indi issue. I will make an indi for each hour. Like the one I am showing you is set at 00:00. I will have ones set for 0100 AND 0200 and 0300 and so on. It will be up to you to set the right indi up to your correct time settings of your broker. This way the indi will work the same for everyone. So if your broker has JPY at local time China 8 am I would use the 3 am setting. If yours is set to GMT that would make it easier. So if brokers are 0 or +1 or +2 or -1 or -2 GMT or local time or whatever the heck they use. You just find the right one that matches the JPY open and save the template at JPY open. 2. The next thing we did is we color coded the session box with the line for easier back study. You can then see how many times it enters and fails with how many times it enters and wins with how many times it does not enter. This will give you a resource to study the system accurately. 3. I will have charts of every currency pair and how much they move per hour so you dont trade that currency pair if it doesnt at least average 20 pips during that hour. This will help keep you out of times and sessions when a certain currency pair doesnt move OR you will be able to trade certain hours when the pair shows it will move. This will take me all morning to set may all day but I will get it done. Oct. Holiday in China I have the week off. YEAH. Here is a pic of what I am talking about. On Oanda the start bar is 0000 or 12 noon. The indi is set to 0000 and will show 6 hours of price action within the indi. No trying to study 4 different sessions at the same time. With this we may find some golden trading opportunities that would not normally be known. So no trading this morning for me but study time. Anyway here it is and many thanks to Elixe for setting this up for me. Here is the first one set to 0000. I will post the rest later. BOB |
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| Author: | nanningbob [ Wed Oct 01, 2014 1:18 am ] |
| Post subject: | 11.0 trading sessions |
OK here are the session bars, one for each hour. All you have to do is match the session with the hour you want to trade and BINGO. This fix should work for all brokers. Let me know if you have any problems. You will also be able to study currencies hour by hour. More on that later. I also made each one show for a 4 hour period. Olive color is buy Maroon is sell. I attached my euro open which is the 300 session. Makes for easy study now. You will see lines at the 0000 either maroon or olive. Ignore those, I have all the other sessions set at 0000 and they will still produce a line. Maybe later we can take them out. |
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| Author: | forexcite [ Wed Oct 01, 2014 2:08 am ] |
| Post subject: | 11.0 trading sessions |
I added the 0300 indi to see if it looked better and YES!!!! Much better! Just looking at about 8 pairs, 6 of them would have been wins if I had set up the trades using the bar 15 mins prior to the opening of the session. The other 2 would not have entered a trade at all. Wonderful - makes much more sense now!!!! Thanks Bob!  |
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| Author: | forexcite [ Wed Oct 01, 2014 2:11 am ] |
| Post subject: | 11.0 trading sessions |
Just registered that you coordinated the box color to the trade direction! Even easier!
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| Author: | lionsden [ Wed Oct 01, 2014 2:39 am ] |
| Post subject: | 11.0 trading sessions |
All, Results for Asia session: still have two more open at the moment. May cut that short as volatility is just about done for this session on to Europe! Lionsden |
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| Author: | nanningbob [ Wed Oct 01, 2014 3:28 am ] |
| Post subject: | 11.0 trading sessions |
Now to add to the fun. In the folder here are currency volatility charts. 1. One chart is volatility by day and gives the average pips per day a currency moves. The most volatile is gbpnzd which moves and average 164 pips a day. The eurchf moves 28 pips a day and I dont consider it worth trading. 2. The second chart shows what currencies move at what hours GMT time. For example the gbpnzd moves over 20 pips every hour all day long. You could try the sessions chart for each hour and see if you can pick up 10-15 pips every hour. It would be an interesting study. I looked at the usd/cny or trading Chinese currency. Well it is dead all day except in hour 0 it moves over 15 pips and hour 1 GMT it moves over 25. Other than that it is not worth trading. gbpaud trades over 20 pips an hour all day except hours 18-19 while the usdcad only trades over 15 pips in hours 12-15. So enjoy the info and I will look at some of the info. Maybe audjpy is worth trading before the euro open in case you have nothing to do. It will be fun looking at the possibilities. |
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| Author: | nanningbob [ Wed Oct 01, 2014 3:42 am ] |
| Post subject: | 11.0 trading sessions |
Remember the bar does not complete until the top of the hour so at 8 it draws the open line and the previous 15M bar closes giving you the signal right at 8. The next thing to work on is getting a buy or sell template so you make your choice and then it automatically sets your pending with SL and TP. Right now it is taking me almost 2 minutes to check all the charts and set my trades. I am learning to do the GBP and higher volatile currencies first. I missed 60-75 pips yesterday because by the time I got to the chart price had already passed the 5 line and I think 2 of them were almost to +15 so time is of the essence. I do have to put one plug in for Oanda for the couple of days I have used them. They get the pending posted faster than Cowboy IBFX ever did. It is almost instant where Cowboy IBFX took many seconds to place a pending. Most of the time it didnt matter but with this system it will matter how fast a broker reacts to a pending trade placement. |
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| Author: | nanningbob [ Wed Oct 01, 2014 3:57 am ] |
| Post subject: | 11.0 trading sessions |
What we will need is an EA that does set buy pending only or set sell pending only. At the open Use 1 MA open set buy pending trade +5 with SL 15 TP 15. or Sell pending 1MA open set sell pending -5 with SL 15 TP 15. We then save the buy template or sell template. We make sure the auto trade is on and then choose the template. If buy template it will read 1ma open set pending +5 with 15SL and 15TP and then it quits and does nothing more. The same with the sell template but set pending at -5 |
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| Author: | rocketman99 [ Wed Oct 01, 2014 4:18 am ] |
| Post subject: | 11.0 trading sessions |
I like to express volatility in percentage moves. Using pips is not a good measure as the Y scale is not consistent between pairs. Taking your top two lines from your spreadsheet at current market price: GBPNZD: 0.0164/ 2.0817 * 100 = 0.787% AUDCAD: 0.0071 / 0.9730 * 100 = 0.729% Surprise! Both moved roughly 0.75%. As mentioned percentage moves scale correctly too on the Y axis so no need to re-optimize when a currency like the AUDUSD falls from $1 to 65c. The percentage moves stay roughly consistent throughout. To further optimize this method I deploy percentiles to smooth outliers. So get all the daily moves and apply a 95th percentile to chop off all the outliers, then average. |
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| Author: | Aussiedoc [ Wed Oct 01, 2014 5:04 am ] |
| Post subject: | 11.0 trading sessions |
Bob, thanks for all the development on this method!  I know this feeling only too well  Cheers |
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