Tuesday 30th June
A loser on EURUSD this morning:
But then a winner on cable:
And another on EURUSD:
I had an interesting e-mail from a reader yesterday which I have been given permission to post here:
Hi Graham – I was interested in one of your posts were you stated that a reader had shown that there was no benefit to trading before 9:30am; I back tested your blogs from 25/2/09 and came up with this:
This shows no performance difference for GBP/USD before 9am or after.
For EUR/USD, however, we see a loss of pips when traded between 7am and 9am, an overal gain of 220 pips if traded 07:00 – 15:00 and a gain of 270 pips if only traded from 09:00 – 15:00.
Now some of the scalping rules have changed – 15 pip scalp – so the results include a few estimates but where you state the trade would have been a loser if spread pips were added and where some of the wins were close calls, I’ve been pessimistic and called them losers. Where you state that the TESS scalp line was hit before a losing retrace, I have assumed a breakeven trade and ignored it.
Obviously when losing 30 pips and winning 20 we are looking for better than 60% (breakeven) success rate so continuous monitoring of EUR/USD’s pre 9am performance would be needed as pairs ‘phase’ in and out and what doesn’t work this month or quarter may work next.
I am keeping an eye on EUR/JPY as this seems to be performing well at the moment.
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