Hello gang, it's been several years since I posted last and have come back to get in the swing of things. I'd been outside with several severe personal health problems and also some family difficulties and have yet to be able to concentrate on my trading, among other things. I aspire to discuss some older threads and attempting to answer questions, so please do not be offended or feel disrespected if I don't answer pm's or e-mails straight away.

#8203;First things first, a few of the things that I've learned over the past decade and approaches posted on here are probably really outdated have have probably run their course or have been altered so much that you would not actually tell where it originally came from. Let's begin with something fresh and simple.

We all recognize that it's extremely easy to overload a chart with the most up-to-date and greatest indiors which makes your chart look quite pretty, but in essence worthless to exchange on. I have learned to keep it very simple and allow the essentials of price action and learning when the authentic trading begins. We see tons of London breakouts on the forums and this one was created with a little twist. Rather than concentrating on the London open, we are establishing our trading scenario to exploit the flaw in the Frankfurt open. So here is your Strategy.


Set Up

To set this up, download the indior and template below. I am using OctaFX, but don't hesitate to utilize whatever broker you desire. OctaFX is GMT 2, so be sure when we set this up your times are in sync. Open a 1 second GBP/USD chart and load the template up. The template should have this stored on it otherwise, put a vertical line on the chart at 5:00 am GMT (7:00 am on OctaFX).

As you can see, we have numerous small boxes on the chart covering all instances of the day. But we are looking for one particular range of time. As we know when the Tokyo opens and we see a little activity there, we then moving to a little ranging period the majority of the time following the new day begins at 00:00 GMT until the London open hits. But people forget the Frankfurt open typically give us a small false sense of direction before the real trading direction is determined. The slowest volume of the day is normally involving 4-6:00 am GMT. This is our starting point at the middle at 5:00 am. We will ignore any boxes shaped before this time. Basically what we are seeing is an imperceptible ZigZag indior in activity but every time a new hi/low is attained that the older box stays on the chart rather than disappearing. This is that which we will base our transactions on.

Rules for entrance

This is the simple part. We start a new trade at the start of the next candle following a box seems, Blue boxes for long transactions and Crimson boxes are brief trades. We continue to include transactions at every box that appears until we strike an opposite coloured box in which all of the transactions are shut at once when the new candle opens. This is the challenging part: RESTRAINT!!!!! Even though it can look like there are various chances to re-enter different runs, do not! This is where you can get trapped in an extremely long run throughout the London session simply to get caught in the ranging period later in the afternoon. Trading dimensions is also very crucial as you may have 1 or two transactions moving or basket of 40 or even longer. Here is how you can input your transactions (and it may be completely different for somebody else depending on their risk factor):

Trades 1-12=.01 Plenty
Trades 13-21=.02 Plenty
Trades 22-29=.05 Plenty
Trades 30-36=.13 Plenty
Trades 37-39=.34 Plenty
Trade 40 =.89 Plenty

I am only using 40 levels as an example with this egy. You can spread it out with greater levels with lower lots to start with then ramp it up on the last 1/4 or so, whatever floats your boat. I have a basket calculation for 80 levels that I utilize. But in this case when we ever got up to 40 transactions, we would just have a total of 3.52 lots in play. But remember, we are going to be utilizing restraint here and accepting just the prime first transaction of the session.

So now lets reveal what the setup looks like utilizing today's chart in another post. All results posted do not include any spreads, slippage, commissions, or some other variables affecting the total amount of pips.

There's an EA in development in the thread below if anybody is interested.

Quantum EA
https://www.forexforum.co.za/attachments/1517722214.tpl
https://www.forexforum.co.za/attachments/1517722216.mq4