Relevant articles for you
Squawk / 11 October 2016 at 0:41 GMT
Financial Systems Advisor / Quantitative Investments Inc
Canada
Not sure your time zone in Argentina (GMT-3 hours) Here is an idea for USDJPY, you make a line at 8:00PM on the candle open, next you make a line at 8:55pm candle close, if the price breaks out above the higher line, you go long for 5 pips and if the price breaks below the lower line, (it doesn't matter if its the 8:00 pm open or the 8:55pm close) you go short for 5 pips. Today I went long USDJPY for 10 pips. Some days you can earn a lot more, but if you want to be right 84.8% of the time, only take 5 pips on each trade.
11 October
Qi2 Qi2
I am in Vancouver Canada, so I set the lines for 4:00pm and 4:55PM Vancouver time
11 October
Feders Feders
Hi, I am 4 hours ahead, it 22:58 at the moment ,so you are correct. Thanks for this idea. I'm pretty new with forex and I've just made two trades in this world. I'm being charged 10 dollars to get in and another 10 to get out, so i'm thinking I have to use leverage to pay the fees with 5 pips. I'm reading about all this
11 October
Feders Feders
And where did you get this idea!?
11 October
Qi2 Qi2
Its a market open range trading strategy, so it's a tried and true approach. Not sure why your trade is $10.00 each leg, it should be based on pips or commission. Is it pips or in the spread? Or is it a commission?
11 October
Feders Feders
It's a commission. If I buy less than 50000 ground I pay it. If more I do not
11 October
Feders Feders
I mean 50000 gbpusd. I saw that there are those limits between paying and not paying , different for each pair.
11 October
Qi2 Qi2
Sure I understand, its a small position size, then they charge the extra $10.00, so the small USDJPY trades are not a good idea. Better off looking for a day trade or even a few days, give it a chance to run :)
12 October
Feders Feders
Qi2 good evening. To play this trade, do you place a limit order? or at market with a limit order for 5 pips profit?. In that moment , yours 17 pm, you change to a 1 minute chart or keeps the 5 minute chart?
12 October
Qi2 Qi2
Hi Feders, I have just made my first line, its at the 4:00pm 5 minute candle open or 104.259 and now I wait for the 5:00pm 5 minute candle open to draw the next line. Then once it breaks up over the highest, I go long and it if breaks down below the lowest line, then I go short. Watch it carefully, because sometimes it can happen quickly and it may even go to both sides. We also have some news in about 3 minutes and then Aussie news at 5:00pm (all Vancouver time)
12 October
Qi2 Qi2
Sorry forgot to attach the chart
12 October
Qi2 Qi2
Very small volume right not in Tokyo, so we need to be careful, the move may be down first then back up, I don't really know :(
12 October
Feders Feders
Very well, thanks Q!
12 October
Feders Feders
And whats if the price remains between the two horizontal lines for let say several candles?, I wait anyway for the break up or down and enter the trade?
13 October
Qi2 Qi2
If it stays in between I do not trade it, however it broke the top line and so I have already traded and earned 10 pips :) I have close at 104.43
13 October
Qi2 Qi2
This will happen about 84.8% of the time for 5 pips, 78.4% of the time for 10 pips
13 October
Qi2 Qi2
You can if there is time set up two orders, one to go short and one to go long, are you on Saxo Trader?
13 October
Feders Feders
haha, I'm a chicken, I did not dare to enter. The ask and bid prices make me doubt, too newbie, haha, but I will learn
13 October
Qi2 Qi2
That is ok, even great, because it is very easy to lose when trading, but watch it carefully and you will get the feel of this idea. Do not trade anything if you do not completely understand it or believe in it, or for sure the market will get you :)
13 October
Feders Feders
Sorry yes I use saxo trader.
13 October
Feders Feders
Thank!, Glad to have your support! Fxtime is the theory and you are the practice, very good team.
13 October
Qi2 Qi2
Ok great, I like their platform its really good! You can easily set up orders with an estimate of price, today it was easy to set up the 4:00pm line, because price was above it, but the tricky part is the 5:00PM one. I cheat a little because I know this idea well, I use the 4:55pm 5 minute candle close to draw the line and almost immediately, it move up and then I opened :) The trade open was at 5:02pm
13 October
Feders Feders
Very good to know those details of how to do it. I read that at the begining of this squawk, I mean that you make the line on the close of the 4:55 candle. Now it is clear how to do it. Let see tomorrow how it goes.
13 October
Qi2 Qi2
it also broke 104.48/52 resistance and so I picked up another 5 pips on the breakout. Watch it for a while, you will get a feel for it
14 October
Feders Feders
Hello!, I could make it, look!
14 October
Feders Feders
Thank Q!, although I enter a little late I think, and I did not set up a stop loss, it goes my way. I will adjust thing next try.
14 October
Feders Feders
Btw, where would you set up a stop loss ?
14 October
Qi2 Qi2
Hey Feders, I set my stop loss 11 pips, (lower line) and earned 10 pips today
14 October
Qi2 Qi2
Amazing!!!!!!!
14 October
Qi2 Qi2
I just looked and saw your trade, that's really great!
14 October
Qi2 Qi2
My open was 103.734 (5:01pm) and close at 103.845
14 October
Qi2 Qi2
Every day, there an opportunity, today is very slow at the moment, but I am watching to see what will happen, I usually only trade for 1 hour, until 6:00pm Vancouver time, but yesterday it was better a little later, so I will watch it today for longer
14 October
Feders Feders
Very well!, I've entered 5:01:54pm and closed at 5:06:44pm . Did you try this method in different hours and/or currency pairs?
14 October
Qi2 Qi2
JPY pairs often work well together, so EURJPY, GBPJPY would work, but may be quite volatile, probably AUDJPY is the better one to start with, lines at the same time
14 October
Feders Feders
Thanks, I will check previous days and will tell you.
14 October
Qi2 Qi2
Ok, sounds great!

Disclaimer

The Saxo Bank Group entities each provide execution-only service and access to Tradingfloor.com permitting a person to view and/or use content available on or via the website is not intended to and does not change or expand on this. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to Tradingfloor.com and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to Tradingfloor.com is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on Tradingfloor.com or as a result of the use of the Tradingfloor.com. Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. When trading through Tradingfloor.com your contracting Saxo Bank Group entity will be the counterparty to any trading entered into by you. Tradingfloor.com does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of ourtrading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws. Please read our disclaimers:
- Notification on Non-Independent Invetment Research
- Full disclaimer

Check your inbox for a mail from us to fully activate your profile. No mail? Have us re-send your verification mail