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The stop is at the other side of the IB, just like Jeff's plan, I'm just going for bigger targets and not dong any stop adjustments. Here's a chart with some losses to illustrate.
Thought I'd look at the first 2hr of the London session like Lolu trades. Looking at 6E 06/09 and 6B 06/09 24 ticks looks like a sweet spot as well.
It's worth remembering that 6B's tick value is half that of 6E's tick value which makes total dollar profits less than 6E's even if their other performance metrics are equal.
Also, my understanding of the times of the London session may have some inaccuracies on some days because of differences in daylight savings time observances, which I don't want to have to figure out right now. Anybody have any advice to reconciling dates when the London opening time changes relative to US time? Maybe something on Forexfactory.com
I'm sort of in sync with London and NY. They also both fall into my morning (8:00am - 11:59am), afternoon (12:00pm - 4:00pm) and evening/night (5:00pm - 9:30pm). So, I can have my 6 hours sleep between 11:00pm - 7:30am (unless I want to peep into Tokyo), and wake up to be at London Open, London/NY overlap, NY Open and NY mid-session.
So the USA sprung forward 1hr on 3/14, UK did on 3/28, so I'll have to re-backtest the June contracts with that in mind. Thanks! Usually I just know the London open by watching Bloomberg late at night and waiting for them to declare that the markets are open in London
"following your rules but reacting according to the 10,000+ hours of screen time you've put in and how you feel about the way the market is moving" then a computer will fail because it doesn't feel markets. - That one .
By discipline I mean when a trader can have rules that they follow for MM and the variables they need to define an opportunity . Since anything is possible this trader knows that discretion is necessary and doesnt back themselves into a corner with rules , the rules protect the capital not lock them out of opportunities .
See self discipline .....
self–dis·ci·pline
Pronunciation: \-ˈdi-sə-plən\
Function: noun
Date: 1838 : correction or regulation of oneself for the sake of improvement
Here is the 3 year equity curve from my euro testing for the first 2 hours of london open (not adjusted for time zone changes).
Overall I don't find it consistent enough for me to trade it. The curve is more linear for crude. BTW the two drawdowns you see here are likely to occur trading this with crude too.
FYI - there is currently a "double inside bar" setting up. I ran a quick test on this the other day and it's rare but the profit factor of a double inside bar is very good, higher than just one inside bar. This would be like having a 30 min inside bar but even better cause you have the last bar inside of the previous one.