Gbp/usd Open market Strategy

[JohnScrot]

hi im JohnScrot

there is a strategy that take profit by the open of london market at 8.00 gmt

i've found it in another forum and works in this way:

Trading Rules:
time frame H1 gbp/usd chart

1- Open your chart on 08:00 AM (GMT).

2- Find the Maximum Price and Minimum Price between 21:00 PM (GMT) to 08:00 AM (GMT).
(For example If your broker time is GMT+2, so you should find the maximum and minimum price between 23:00 PM to 10:00 AM on your chart.)

3- You have 2 numbers. Maximum Price & Minimim Price. Now should open 2 pending orders:

Buy Stop:
At: (Maximum Price + 2 pips)
T/P: (Maximum Price + (Maximum Price - Minimum Price))
S/L: (Minimum Price - 2 pips)
Expiratory: Next trading day at 08:00 AM (GMT)

Sell Stop:
At (Minimum Price - 2 pips)
T/P (Minimum Price - (Maximum Price - Minimum Price))
S/L (Maximum Price + 2 pips)
Expiratory: Next trading day at 08:00 AM (GMT)

4- Now you can even turn off your computer and sleep. If any of above pending orders activated, let it touch T/P or S/L it self. It may takes some hours or even some days. Please never close it manually.

Inactive pending orders will expire next trading day at 08:00 AM (GMT). At this time you should go to the first stage and repeat this cycle for the next day.

Read more: http://forums.babypips.com/free-forex-t ... z2Jq2AiwQb

2010.08.27
2010.08.26
2010.08.25 +73
2010.08.24 No Trade
2010.08.23 +90
Sum of above week: +18 pips

2010.08.20 +60
2010.08.19 -93
2010.08.18 +90
2010.08.17 +67
2010.08.16 -106
Sum of above week: +18 pips

2010.08.13 No trade
2010.08.12 -99
2010.08.11 +102
2010.08.10 -131
2010.08.09 + 53
Sum of above week: +3 pips

2010.08.06 -52 +52
2010.08.05 -91
2010.08.04 +48
2010.08.03 -97
2010.08.02 +102
Sum of above week: -38 pips

2010.07.30 -58 +58
2010.07.29 -71
2010.07.28 -64 -64
2010.07.27 -69 +69
2010.07.26 +91
Sum of above week: +20 pips

2010.07.23 +68
2010.07.22 +61
2010.07.21 No Trade
2010.07.20 -98
2010.07.19 +83
Sum of above week: +119 pips

2010.07.16 +71
2010.07.15 +54
2010.07.14 +87
2010.07.13 +82
2010.07.12 -121 +121
Sum of above week: +294 pips

2010.07.09 +70
2010.07.08 +79
2010.07.07 +74
2010.07.06 -125
2010.07.05 +41
Sum of above week: +139 pips

2010.07.02 -53
2010.07.01 +101
2010.06.30 +45
2010.06.29 +75
2010.06.28 +52
Sum of above week: +220 pips

2010.06.25 -62 +62
2010.06.24 -70 -70
2010.06.23 +75
2010.06.22 -72 +72
2010.06.21 -130
Sum of above week: -195 pips

2010.06.18 -80 -80
2010.06.17 +92
2010.06.16 -65 -65
2010.06.15 -72 +72
2010.06.14 +121
Sum of above week: -77 pips

2010.06.11 +70
2010.06.10 +111
2010.06.09 +92
2010.06.08 +68
2010.06.07 +73
Sum of above week: +314 pips

2010.06.04 -46 +46
2010.06.03 +108
2010.06.02 +139
2010.06.01 +103
2010.05.30 +98
Sum of above week: +448 pips


it works at 60% and when don't works you will lose the entire range, thats the worst thing;
the good thing is that you don't need to stay all time logged in following chart



Now someone knows how to avoid this stop losses, following the chart , or there is any system- strategy that profit by the open of london market, explained in another way?

Thanks For Melodica and sorry for my bad english.

[Emin21]

Market is going down day by day

[Oshaban]

Hello JohnScrot....
Few years ago, I coded somehow similar strategy called "1MinuteDaily"... That strategy could not make profit now as it was before.
Tweaking that EA to make yours automated seems to me is not difficult but my question,
Is it worth to spend time on it? Is it still giving same profit as before?
Are there any new rules you use?
Not sure if I will have an email alert for any reply here, but you can contact me on, [email protected]
Thanks...
O. Shaban