May 19 - Pending order straddle strategy off of Asian session

[Ricky Tse]

Hi Joe,

Thanks for sharing with us your little gift for playing breakout out of the defined box range from Asian session. Can you put that in writing here on this thread? I think I have only written down part of it...

If a currency pair moves 60 - 80 pips after the active part of Asian session. (0 - 4 GMT)
For example:
Asian high - 1.3660
Asian low - 1.3600

Set up a straddle both way.
- Buy stop @ 1.3660
- Sell stop @ 1.3600

Thanks,
Ricky

[the boxer]

Hello Joe,
I placed the following trade in my live account:
Buy at 1.3665 and Sell at 1.360 if the Asian session moved 60 pips.

Buought at 1.3574 after pulling past 1.3660 and coming back to support
Stop loss 1.3544
BE +1 was 1.3575
TP1 1.3624 Taken
TP2 1.3664 Taken
GT 1.3819 which was my resistance target
Total pips = 385 pips

Cheers,
Lionel W
Stalking: EURUSD, GBPUSD, USDCAD, USDCHF

[Ricky Tse]

I looked back at the trade alert from "OU Forex Trader Alert Wednesday 3-11-09.doc" and FOREX Joe has actually mentioned the same test of theory on that day. I did not realize that until today when I went back to the old reports and looked at how the last 2.5 months have progressed.

Here's a copy of it from the report:

****Trade Asian Session for practice regimen

One of our old school trades has to do with EUR/USD staying within a certain amount of pips in Asian session… As of 6:45 central, the EUR/USD has been in a 45 pip range. Please test this theory in practice account.

High of session – 1.2848 - set a buy at this number

Low of session – 1.2803 and current bid is 1.2806 – for wiggle room purposes set sell 60 pips away from high of session

Sell at 1.2788 – set a sell with TP1 25 pips TP2 70 pips Stop loss 25 pips

Thanks,
Ricky - E, S

[norcaltrader]

Hey ricky,
thanks for bringing that to our attention. it just goes to show u how much info is here, and how when ur eyes are ready they well see "what is hidden in plan sight."

norcal trader stalkin usd/jpy and having fun with the others. haha