System Messages

This forum is for members of the Apiary Investment Fund. To learn more about how to get involved,
sign up now for a 14 day free trial or fill out the form below and preview the training right now!

London DayBreak Strategy

 
Back to Forums
 
 
teetratsep

London DayBreak Strategy

Hi Traders,

I'm new to Forex trading and I'm finishing Silver 1 as my last assigment is reaching out to the forum. I have had resonable amount of success with the London DayBreak strategy. I'd like to hear anybody's feedback if that has worked for you as well or any tips to make it better?

Ted 

Tue, 01/02/2018 - 4:54pm
 
mrb886

Hi Ted and fellow traders,

Ted, you mentioned the 'London Daybreak Strategy' in your recent text. During the past few months I have heard of this strategy

and yet cannot remember from where. Is it an Apiary taught strategy, or is it one from another source?

Any guidance will be warmly received

Many thanks

Martin

 
jaideona

Hi guys, i did not see this strategy on Apiary. But i do have a PDF with some info - got it from a friend. Please see the attached file. I have been watching and demo trade this strategy on another platform. It takes patience and persistence to achieve good results, but it can see that it works. Let me know what you think of the attached material.

AttachmentSize
London Open Breakout Strategy.docx 40.34 KB
 
kenpomaniac

Jaideona,

That is a very good write up of the strategy. I have tried the strategy a few times and it does work. I haven't done it a lot because of the time zone difference. I have found that I make better trading decisions when I am not tired. :)

I have also found that some days are way better than others and you need to watch for quick retracements so watch it closely. Anytime you are trading at the opening bell it could go either way or wobble enough in both directions to trigger you in and then reverse. It is not a set it and forget it system.

 
npbudzi

Interesting, I will need to get up early in the morning for this one in the US.

 
monti

thanks for the advise, i will try it

 
BC David

On the west coast, I have a tough time getting up for the New York open, let alone a 1:00 AM London open. I have tried doing a breakout strategy with buy and sell stops as well, but only once did it net really good positive results. For now, the only safe strategies that work for me are short term / scalping strategies. If there are others that bring regular success, I'd sure like to hear about them! Thanks :)

 
Rookie

BC, any market (well not down under) at open plus 1hr more or less will produce good results. at the overlap good scalping. But you need to know the pair you are trading.

Asian op[en, JPY crosses,
Euro open wait for the reversal.
USA open after the reversals go all in until 10 or 11 AM EST.
It's cyclical and happens day in and day out, a session in and session out.
Homework buddy funded.

AttachmentSize
market-cycle-times with Daily Cycle Chart.docx 322.72 KB
 
MISTER PIP

I had great success with that one, early morning trading, worth every pip!

 
angelob64

RNM, thanks for the tip and reference doc. I'll need to try it. I have a tough time determining direction after consolidation but it looks like I just need to wait.

 
Rookie

Angel, said " have a tough time determining direction after consolidation " you just need the little engine that has a clue!
https://apiaryfund.com/forum/fast-track-funding-0 watch on McDuff! this lesson has all your basic answers.

 
rlbonner

thank you for sharing!

 
Aussie1981

Rookie, could you please expand on "Euro open wait for the reversal." Many thanks in advance

 
Rookie

@Aussie1981, Keep in mind I am in the CST time zone and we just came from daylight savings time. ( which I wish they would really do away with). Also, I do not trade the Sydney or Asian markets.

Basically, do to the circadian nature of the 24-hour market and then each market individually has its. When a new session occurs the price action, in general, has a tendency to reverse its direction during the session. This price action causes volatility.

Ok so going from the Asian to the EURO we cross the Frankfort open. SO I will start looking at the market maybe 30 minutes before that open. I might even take a few trades and watch for the change. After the open, the change is not yet underway so there is an hour before London opens then Bank of England and PA remains fairly directional. Once the BofE opens the direction will change.

Now the changed in the London session will hold until around 2 hours before the NY open but for sure by 1 hour before the open. I will trade this and get out of my positions but maybe 15-30 minutes before the open.

Then I usually just let the NY open happen without trading it.

So now we up to about 7:30 or 8 am and if all looks not too choppy where I can get at least a 5pip spread I'll get back in for an hour.
If not NP I have made my pips for the day.

I used to trade each session in my different some accounts and post them weekly in my blog. Going forward I am on a crusade to bring all my accounts back the level I started with and reserve any testing to a real sim account and not my old Beeline accounts.

The other item is when to stop trading. This to me is just as important as closing lossers early and allowing winners to run.
I get out when the volume is gone, you just get the feeling for this. I get out when I get tired and go take a nap. I stop trading if I see losers and I get caught on the wrong side of a trade because I didn't close my losses, which is a risk-gamblers issue, also just recently I have identified my overtrading when my equity isn't growing with my increasing trading again another risk-gamblers problem.

Enjoy and I hope your question wasn't overkilled.

 
Aussie1981

No, it was just perfect. And v clear. I live in Europe, I can't trade the Aussie market (although I am one of them) but early in the morning, I get 2-3 h of the Tokyo market and full London and NY. Your comment about the market rolling west (Asia - Frankfurt - London and the 24 h pattern in each market is a true eye opener, thank you.