Time Frame Analysis: H1 (so morning session) only profitable for EurUsd. More profitable LONG m30 (so pm session) only profitable for EurJpy. More profitable SHORT Funnily, this analysis matches the daily or 24 hr trend. EurJpy has been trending ...

Simplicity is the Ultimate Sophistication

Pivot table insights Eurusd and Eurjpy trade direction results. 1 is long, 2 is short. Note, winning trades have been 2 (short) which funnily is the same direction as the daily trend (see chart).

Simplicity is the Ultimate Sophistication

Not backtesting Zen. This has been live forward testing. I diarise all trades each day and then use Excel pivot table functionality to assess variables such as time, pair, SL, TP etc. If you only put the second trade on at x1 then you will only ...

Simplicity is the Ultimate Sophistication

Indeed. Same hymn sheet and all that. Now we have to work out how to refine by using past results. It might be that we have to accept a 10pip SL instead of 15? Maybe a trailing 10 SL??

Simplicity is the Ultimate Sophistication

Of my quick analysis of 104 trades trading this method: Losers 40 Winners 60 Of the losing trades 24, (60%) lost outside of the 1st hour (so after 0800 London time) Of the winning trades 36 (60%), also won after the first hour (so after 0800) So ...

Simplicity is the Ultimate Sophistication

Great stuff Grandaevus I think with the variables added and robustly backtested then it will decide the strategy. Like you said tho, BST changes every 6 months so may have to run a batch of 6m back tests and aggregate the results. I've found from my ...

Simplicity is the Ultimate Sophistication

Yup. EurUsd hit TP. My eurjpy trade lost this morning so re-entered x2 pos size and this one just closed out at TP too. The key is waiting for price to come back inside the 'zone' created by your signal candle. I'll now trade eurjpy again in the US ...

Simplicity is the Ultimate Sophistication

I think it's the support and resistance level that the first hour candle creates that's important. If you look back at price action over the past 6m you will find there are often cases where the trade will take up to 8hrs to activate, some even ...

Simplicity is the Ultimate Sophistication

Any Amibroker coders willing to backtest this. That way we can add confidence that we have the best candle time, settings etc I have the code for Amibroker for this strategy; just I don't have amibroker or FX tick data for eurusd or eurjpy Rgds

Simplicity is the Ultimate Sophistication

US Session m30 EurJpy TP Hit. 1600 UK Summer Time candle.

Simplicity is the Ultimate Sophistication

Hi Zen Yup loser day today but no big deal as system has delieverd a run of wins. To be expected. Could be tight market ahead of Fed Minutes at 2pm (US). The ATR had closed right into 11 this morning and I nearly didn't put the trades on because of ...

Simplicity is the Ultimate Sophistication

The system relies on volume and volatility to work. Keep an eye on the VaR and ATR. If these are less than 10pips target then you may wish to alter the TP orn decide not to trade? url It's never a good idea to trade the Xmas period as vola is too ...

Simplicity is the Ultimate Sophistication

Just over 2 Weeks trading this now. Thanks Zen great system. High ROI. Up 17.4%. Win/Loss ratio of 72% over 39 trades taken. I'm trading x2 pairs, EurUsd and Eurjpy Both on candle close 2hrs before London open and same again 1.5hrs after the US ...

Simplicity is the Ultimate Sophistication

Agree - we are not trying to 'berate' anyone; just point people in the right direction. You need to learn this stuff over years. See attached example for clarity. In short, don't look and try to curve-fit patterns to charts where WW or any price ...

Wolfe Waves - Get in the Zone

The crux of the strategy is about taking 10 pips from the market in the times of highest liquidity. Most UK based traders and brokers get to their desks circa 0530 and many that I have worked with/spoken to say that trading really starts en masse at ...

Simplicity is the Ultimate Sophistication

I use One Cancels the Other (OCO)orders. ETXCapital in UK offers these. So as one is filled (ie long) the short would be cancelled.

Simplicity is the Ultimate Sophistication

Been trading WWs for years. The secret is that the 'X' must be a new high or low. You can't have an X in mid price obscurity. WWs exist at the bottom and tops of moves and the best ones stand out -you shouldn't need an Indy to spot them! The target ...

Wolfe Waves - Get in the Zone

Zen. I've been having success with opening two trades too. One in eurusd and one in eurjpy. If both lose, that's it for the day. If both win, again that's it for the day. If one loses and one wins (so down on morning) I then trade the US open but ...

Simplicity is the Ultimate Sophistication

Hi Zen. Cash equity (ie S&P) currently opens at 1330 GMT until Mar 28 then goes to 1430 as usual when clocks get back in Sync. Don't forget I'm also using FxPro for charting which is GMT+2hrs!

Simplicity is the Ultimate Sophistication

Agree Zen. Pair with lowest 'criminal' spread is best. Works well with the 30m candle 1.5hrs after the US open too. I've found my losing trades are around strong number 00 levels, such as EurUsd today around the 1.800 level (traded US open). These ...

Simplicity is the Ultimate Sophistication