My 'time pattern' idea - page 2

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Word of caution...

Beware of early news releases with Asian breakouts....

 

My last post...

Do some more research before trying to post anything else here... reading how other people do it (regardless of how much of a headache it is) is the only way you will ever hope to profit from this or any other method you trade with.

Saying that, don't be afraid to ask questions... no doubt a lot of them will be stupid, noob ones, but that's ok. We've all been there. Just remember that most people who post here are here to learn, so if you ask a noob question, chances are that there are others who will want to know the answer as well, but are too afraid to ask.

Also bear in mind that there are posters who are actually provoking thought and not trying to start a flame war. Read any post here with your tongue firmly in cheek. Most posters aren't being malicious, so don't take them as such. Any attempts to build an EA should come from a thorough understanding of what it is you expect the EA to do and how do it explicitly. That is the first step in building any strategy, prior to building an EA.

 

Here is an indicator to assist you

I presume you are using MT4 as your platform. I have attached an indicator by my friend Andee which will help you. There are many others, but this is the best looking and most configurable that I have come across.

You should set the parameters to be your broker server time offset against your local time + time difference between your local time and JST time . Then set the start time to be 08:00 to 17:00. This gives you the Asian market range.

 
Limstylz:
Do some more research before trying to post anything else here... reading how other people do it (regardless of how much of a headache it is) is the only way you will ever hope to profit from this or any other method you trade with...... ........understanding of what it is you expect the EA to do and how do it explicitly. That is the first step in building any strategy, prior to building an EA.

Hi Limstylz,

Thanks for the tips. They are all appreciated. Well, I know about the BO systems ,2 threads around here, and lately I have been testing one -- BO box ... GBP/JPY. But these days it gives only 100pips profit, not 140 as some people in another topic preach But it is something :-) Eventualy I will explore more ideas, try to apply some fundamental principles. Thank you for your concern. And I will read this book.

But as I said before , my 'private idea' is not to trade breakouts, just to grab some pips in the chaotic interval just between European market opens..... I believe there is purpose in this movements , someone is stop-hunting. May be , or may be that is because I go to work after 8 GMT, and don't have much time....

May be it is something tiny and not 'fundamental'. But I am trying and soon will post some statistics. And I know that all these news releases are much more profitable. But it's another well-researched area.

About EAs - later, and as I imagine it , I would need some very simple expert, just the timing is a problem , and the SL, if I use one.

Good Luck to all and may the pips be with you .

 

Hi

I agree that there's a time when there's a surge of price or reversal at a specific time. I do breakout of GBPUSD at 1600 GMT+8 everyday, and it's been pretty successful.

 
 

hi

Limstylz:
Beware of early news releases with Asian breakouts....

especially tankan report ussually it makes gbp going wild early

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Forex Indicators Collection

 

to clarify

prasxz:

beware of early news

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especially tankan report ussually it makes gbp going wild early

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Forex Indicators Collection

Hi guys , thanks for your opinions.

As I said before, Asian breakouts are different matter ,described here :

https://www.mql5.com/en/forum/178827

https://www.mql5.com/en/forum

there are nice indicators, boxes and others

***+++***+++

But this topic is different !!!! My awfully simple system, or idea, is just 'time' related. Not resistance-related, not the blabbering of some banker related. Not hypothetically 1000pips profit related !!

What I think is happening, is somehow there are oscillations or jerks, after the Asian close, or rather Tokyo close , and before European traders hit the market. Why is that, I can only guess... Anyway, sharp moves could happen after 08:00GMT , as La_maja_k mentioned. We would say it's the daily trend. But I look for these jerks a little before that. Before London opens at 0800GMT. So i am not measuring with some Fibonachi methods. It is like the US opening, without any reason there are some vicious and strong moves. Up or down or whateverand then again. I don't care as long as I get some pips! But watch out for news releases too, and don't blame me.

So everybody can use whatever reversal method he/she likes I enjoy the morning reversals, 07:40GMT seems solid and quite profitable. That is , if I am not sleeping. I will publish results and probability statistics after several days.

Any ideas are welcome !! For example precise time and TP/SL.

I have mentioned my numbers before. May be I will adjust them a little. May be calculate the average profit with and without stop loss.

Now, how about another example of the 'tampering' with the forex market ?? I believe on Monday the 'so called honest and perfect' market will open with a upside gap in EUR/USD. After all the bad news - of course it is time for abnormal moves and stop hunting, don't u think

 
JangoFet:

So everybody can use whatever reversal method he/she likes I enjoy the morning reversals, 07:40GMT seems solid and quite profitable. That is , if I am not sleeping. I will publish results and probability statistics after several days.

Maybe you could clarify that? State rules, examples, please.

I have worked with time-related trades, sessions and related topics. I have not found a concistency method yet. Maybe this idea of yours is different, but profitable ... Show us.

 
JangoFet:

What I think is happening, is somehow there are oscillations or jerks, after the Asian close, or rather Tokyo close , and before European traders hit the market.

This is due to the overlap of Asian and Eurozone sessions. The 'oscillations or jerks' are due to Asian traders flattening their positions at the close of their day and Eurozone traders opening their positions at the open of their day. This is a well known action of the market in the early morning GMT, and frequently results in a breakout of the Asian session or London/Eurozone ORB, so whatever methods you describe will be an extension (to a variable degree) of this.

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