Hi, I recommend to stick to "proven" pairs like EJ, EU, GJ, GU and UJ.

Ramblings of a Forex Junkie

Thank you for the explanation and have a nice weekend. Just looked outside the window and we just got a few inches fresh snow this evening here in North Germany...

Ramblings of a Forex Junkie

Seneca, how do you personally set your stop when trading news events like NFP or ECB with the breakout method?

Ramblings of a Forex Junkie

Your are right. I remembered one of your posts saying that a breakout of 5 to 15 pips from the range works best, so I decided not to trade the retracement. Wrong decision (in hindsight)...

Ramblings of a Forex Junkie

No, I cancelled the pending order because the breakout candle was that big and > 15 pips away from the range...bad luck.

Ramblings of a Forex Junkie

Thanks SP and billyt for your thoughts! 00:30 here in Germany, time for a nap...

Ramblings of a Forex Junkie

Sorry for bothering you with a lot of questions: How would you analyse GU...it has touched the previous weekly low. Would you enter a long position or look for a short around the weekly open instead?

Ramblings of a Forex Junkie

Ok, nice analysis. I am curious to know if you would let the other half of the short trade from the EU breakout trade run or perhaps tighten the stop due to the heavy resistance at the weekly low... I exited one half at 1/1, stop of the ...

Ramblings of a Forex Junkie

Seneca, I have one question regarding the add-on trades for the opening range breakout I hope you can clarify. In post #908 you said: "Often in a trend you either get a breakout with no trade or continual trades triggered in the same direction. I ...

Ramblings of a Forex Junkie

Exactly, that's the way I do it!

Ramblings of a Forex Junkie

Great. And all you need to do is, looking at the charts for a few seconds every hour (from 9:00 am GMT until London Close). It really can't be easier than that... I trade this method also with 1% risk, only EU, since February 25th. Results so far ...

Ramblings of a Forex Junkie

Seneca, you are dead right!! Entered short on EU after a retest of the range with 2 positions, half closed at 1/1, other half is running with stop at BE...see below. Btw, do you still trade the opening range yourself?

Ramblings of a Forex Junkie

Another nice trading day (besides my boring day job in the office )...+4.3R / 4.3% account increase.

Ramblings of a Forex Junkie

It has shown that using 5.00 GMT / 0.00 EST for the beginning of the new day works best. It does not need to be a market open time.

Ramblings of a Forex Junkie

If the opening price is close to the previous day high or low, chances are high that there is a breakthrough. So you would wait for the break and take the entry on the retest. Personally, I would enter a small position at the touch of the high and ...

Ramblings of a Forex Junkie

Puma, here are the answers: 1. The "daily open" is the current opening price at 0:00 EST / 5:00 GMT 2. Yes, price at 5:00 GMT of the current day

Ramblings of a Forex Junkie

I trade EJ, EU, GJ, GU and UJ.

Ramblings of a Forex Junkie

Forgot to mention, that I set my levels manually and name the lines. I saved every pair as a template and drag the lines to the new positions every morning and save again.

Ramblings of a Forex Junkie

This is what I do: 5.00 am GMT: I get up and set my levels (2 hours before FO): daily open, previous day's high + low, previous London Close and NY Close On Mondays 5.00, I additionally set my weekly levels (high, low, open, close) I begin looking ...

Ramblings of a Forex Junkie

Thank you, mate. I try to aim for at least 2R, but I am flexible. If price begins to stall at a key level I might exit and re-enter if the level is broken.

Ramblings of a Forex Junkie