Mr.Vahid you have mentioned in your latest video that for intrady range breakout trading you used GBP/USD and EUR/USD.
So I would like to ask you in more detail which pairs are more suitable for this strategy and for what trading session, the London or the USA?Thanks.

Blackpele,

I have spent a lot of time over the last year investigating this and various breakout strategies based on the Asian session. Vahid's strategy works on the range up to 10AM FXPro time and that is later than the period that I have been working with. I have been investigating the range breakout set by the period up to 8AM FXPro time.
However, I have found that it can work with any GBP/USD/JPY combination, but the best by far is GBP-USD.
From my experience/investigation, using the range breakout on the 15 minute chart based on the 8 hours before 8AM FXpro time using the high/low as stoploss and 1:1 target does not workany better than 50/50, so you may choose to disregard what I have to say. Vahid's timing is different, but I do think that it is most likely that GBP-USD will be the best pair to trade.

Keith

Hi Guys

interesting question, I have tried this also on open of London session - some success but not sure when to call the range too large and i think I have taken trades that may have been too ambitious based on a 1:1 rr

i am presently experimenting with gbp/usd although i tried it one day on 7 pairs and ended up with around + 80- 90 pip result on one day - in that case it was on 8am open of london session

what would you guys call too large a range ? 70 80 90 pips ???

good trading
Pipman

I have given of brief backtest look at this on GBP/USD and EUR/USD. First conclusion is this has a very high success rate on both pairs if you use the .75 RR. The size of the range is a little harder to say but I think you could still trade the GBP/USD with a range as large as 80 pips and maybe even 90. Seems EUR/USD needs a little tighter range and I would give an educated guess to not trade a range larger than 70 pips on this pair. However, like Vahid says, the best range is 40-60 pips on either pair but it seems to me you can go a bit higher than this and use the .75 RR. Just my opinion but that's what it looks like to me.

I have given of brief backtest look at this on GBP/USD and EUR/USD. First conclusion is this has a very high success rate on both pairs if you use the .75 RR. The size of the range is a little harder to say but I think you could still trade the GBP/USD with a range as large as 80 pips and maybe even 90. Seems EUR/USD needs a little tighter range and I would give an educated guess to not trade a range larger than 70 pips on this pair. However, like Vahid says, the best range is 40-60 pips on either pair but it seems to me you can go a bit higher than this and use the .75 RR. Just my opinion but that's what it looks like to me.[/quote]


Hey Chillydog

great thanks for your input so if range value is higher could go for .75 rr but if lower maybe go for 1.1 rr - i think i will think on this for a while.

thanks for your help
btw - i must have missed the 40-60pip suggestion from Vahid - must pay more attention

cheers and have a great easter break

happy trading!
Pipman

Hey Chillydog

great thanks for your input so if range value is higher could go for .75 rr but if lower maybe go for 1.1 rr - i think i will think on this for a while.

thanks for your help
btw - i must have missed the 40-60pip suggestion from Vahid - must pay more attention

cheers and have a great easter break

happy trading!
Pipman[/quote]

I took the GBP/USD trade today. My range was 68 pips. I entered 10 pips above range and set my SL right on the bottom of the range so I risked 78 pips. My first target of 39 pips just hit so I moved my SL to breakeven and will wait and see if I get the full 78 pips.

Another thing I noticed about this system is it seems to me Mondays are not a good day to trade it. Market probably settling in for the week. I'm not sure about this but maybe Vahid will voice his opinion if he reads this thread.

i think that is probably very accurate about Monday s , also - i think Vahid may have mentioned something similar on one of the videos.
i was thinking on your method and looking back at the 15m charts. i have to say the method you are using is probably an excellent way of maximising this strategy's outcome as I've noticed the market often movess to the 1.1 RR though it may happen overnight or even the next day however if you are in the trade at breakeven (zero risk as i call it). there is only upside if it comes good. i think this strategy makes alot of sense, just need to get comfortable using it,

can i ask you something, i figure the best way to find top and bottom of range as 10pm london time - 8am london time - as i undertand this is when us has closed and market should have setlled. also encompasses asian session
would you agree with that or suggest different

thanks

That is correct. It is the range of the market from the close of USA(New York) market and opening of the London market which is the same as you stated.

Thanks a lot guys, your opinion really matters to me.

As I have explained in one of the last videos, according to what I have expeirenced, GBPUSD had the best result among all the other pairs.

This is true Bill. Usually you will have a lower success rate on Mondays, exactly because of the reason you mentioned.

Hi Every one,
I'm doing some back testing on the London B/O system, and was wondering if anyone could tell me when daylight saving changed back in England.
I will post the results once I am finished.
Thanks in advance
Ian

You are absolutely right Bill.

Hi Vahid,
Just wondering if you could share your thoughts on the range b/o from last Thur (GU 8-4-10}
You mentioned in your video that you did not trust the support line at the time.
I thought it was a nice tight range as I show on my chart but you obviously saw something different.
Could you share your thoughts on why you didn't trust it?
Thanks,
Ian

Hi Ian,

The first reason was that it was Friday and the second reason was that it was New York session. New York session usually is not reliable. It becomes even harder to trade in this session on Fridays.

As I always wait for the best condition, I preferred not to take any position.