(Req) L0nd0n Cl0s3

[soundfx]

Hi Guys,

 

This is the first (Req) post I've made here!

 

Take a look at this:

 

http://www.forexmentor.com/londonclose/index.html

 

I believe I have a good idea of what this system is about as I've noticed certain characteristics of the market which appear around market open/close times.

 

However, it would be nice to know exactly how this particular system works as it's a refreshing change from all the London Open based systems :)

 

Here's the "Noble entry" for interest:

 

http://indo-investasi.com/showthread.php/4297-Forex-Mentor-The-Noble-Entry-Technique?highlight=noble+entry

Edited November 6, 2010 by soundfx

[Freddie]

OK, Soundfx, what have you noticed?

Craig Harris says that price tends to go back around the afternoon but I have failed to see a regular time for it other than to say 'afternoon'.

 

I am very interested in this concept.

[soundfx]

Hi Freddie,

 

Between 4-6pm UK time I've noticed is a typical reversal period, which is the sort of time this system is used (they mention 8:30am Pacific, which is 11:30am Eastern).

 

With the bulk of Forex transactions going through the market in the London session, it makes sense that at the end of the day, traders will be taking some profits on the main move of the day.

 

Also from around midday UK time to US open this also seems to be a reversal period, I guess this could be the effect of traders taking profits from the morning's trades before going to lunch, to avoid them being caught out by adverse moves as soon as the US opens.

 

The key with this system from what I gathered is to use the "Noble entry" to capture the Daily counter-trend move for currency pairs which have already exhausted their ADR (Average Daily Range). I would guess that the idea is to start to look for entries from 4:30 onwards.

Edited November 6, 2010 by soundfx

[Freddie]

... 4-6pm UK time ... midday UK time to US open...

 

Thanks for that soundfx, I looked at the Noble Entry but that all seems too complicated for me. I tend to see FX as a 'lucky dip' so it is 'breakouts' for me.

 

I am thinking of an 1100-1200 range and 1500-1600 range. A straddle on each.

 

I will have a look at that tomorrow, see what it looks like.

[soundfx]

Hi Freddie,

 

I've just gone through the Noble Entry. It does seem a bit complicated, however the principle is simple:

 

1. Establish major levels of S/R from 4H or 1H charts

2. Look for a trade in the same direction as the higher level trend bouncing off S/R.

3. Go to the 15m chart to confirm that price is indeed bouncing off S/R in the way we expect (by checking candle pattern and looking for higher highs or lower lows in our intended direction).

4. When we have direction confirmed on the 15m chart, then to keep our potential reward as high as possible we move to the 5m chart and wait for a retracement of at least 62% to enter the trade.

5. Place stop 10 pips above/below the high/low of the bounce from S/R.

 

The key point of this entry is that our reward is twice or more than our risk, which means we could lose half of our trades and still make a good profit!

 

If these moves typically occur at a certain time of the day, like around the London Close then it makes it much easier to focus on these trades for a couple of hours.

[mayureshete]

seems interesting, m also egarly waiting 4 its release

[kraven]

i never seen the release date....20th Nov....anyway i p.m'd Gringho a few days back to see if he could get it as he always seems to get his hands on FxMentor stuff.

[soundfx]

Hi kraven,

 

Yep, coming up this Saturday. It'll be interesting to see how Shirley is trading around this time, because the results are excellent:

 

http://www.forexmentor.com/londonclose/results.swf

[kraven]

ahhhhhhhhh. i see it has lots of different pairs on there, this means a lot of hectic monitoring all at the same time (london close time) and big spreads which appear to have been ignored....still interesting

[Guest hftlh]

It's open for purchase if you miss the webinar. :)

[pi saab]

Anyone manage to get this?..very curious about it

[Freddie]

Anyone manage to get this?..very curious about it

 

I believe that it is a lost cause. I suspect that nobody has it else it would have been shared ages ago.

[pi saab]

The webinar was aired on 20th nov,and it was sold out out.so im sure it will turn up eventually......i hope

[coolias]

Any update on this system on when its released? Anyone has it yet?

[sillykiddo]

any update on this?

[mayureshete]

may be i got wat its all about.

 

ok guys, i thinkk nobody got it,

 

but i saw the preview video of the london close and there is one strategy of chris lori very similar to this, in high probability reversal pattern, the rip tide reversal, combine it with the noble entry technique right around the london close session.

 

if you are with me, then please reply.

 

and enjoi....

 

and if some people are lokin for fibonacci swing trader of forex mentor, that course is very similar to forex master blueprint, the late entry method has also been explained in same course...

 

again enjoi...

[sillykiddo]

any update on this?

[Freddie]

ok guys, i thinkk nobody got it, but i saw the preview video of the london close ...if you are with me, then please reply.

 

Think that we are at cross purposes here. This thread is about a system called The L0nd0n Cl0se which is featured on a review site.

 

The vid that the Forex Mentor people are selling is the Noble entry etc etc.

 

Maybe you need to start a new thread for your idea.

[mayureshete]

Think that we are at cross purposes here. This thread is about a system called The L0nd0n Cl0se which is featured on a review site.

 

The vid that the Forex Mentor people are selling is the Noble entry etc etc.

 

Maybe you need to start a new thread for your idea.

 

My firend Freddie, always keep ur mind open, i am not sharing the idea but i am sharing whats the concept or the so called "London close System" is all about.

 

and you may be right, we are at cross purpose here....

 

any ways i was just sharing the way london close system works...

 

lets see if some one uploads, and i will just check out if I was right about it...

[Freddie]

My apologies Mayureshete, not at cross purposes at all. My mistake I confused this with another system.

 

Yes I see your intention. Personally I have just used an afternoon breakout of the London session. The Noble entry and that sort of stuff is too complicated for me. I can only use simple concepts.

[⭐ musketeer]

Hi Freddie,

 

Between 4-6pm UK time I've noticed is a typical reversal period, which is the sort of time this system is used (they mention 8:30am Pacific, which is 11:30am Eastern).

 

With the bulk of Forex transactions going through the market in the London session, it makes sense that at the end of the day, traders will be taking some profits on the main move of the day.

 

Also from around midday UK time to US open this also seems to be a reversal period, I guess this could be the effect of traders taking profits from the morning's trades before going to lunch, to avoid them being caught out by adverse moves as soon as the US opens.

 

The key with this system from what I gathered is to use the "Noble entry" to capture the Daily counter-trend move for currency pairs which have already exhausted their ADR (Average Daily Range). I would guess that the idea is to start to look for entries from 4:30 onwards.

 

almost all big players(and average too) have limits for the day, and they *must* close to get back in allowed limits

[fxquantum]

Hi mayureshete...

 

I have big interest also in fibonacci swing trader course and advisory service. Let see that similar approach that you mention here.

See some about last video update here

hxxp://www.forexment0r.com/swingtrader/update/20101122/

[mayureshete]

Hi mayureshete...

 

I have big interest also in Fibonacci swing trader course and advisory service. Let see that similar approach that you mention here.

See some about last video update here

hxxp://www.forexment0r.com/swingtrader/update/20101122/

 

well, forex mentor people has already thought so many things that it covers almost all topics in the forex education required for trading, and then also i can't under stand why people are after every education course uploaded on the internet.....

 

well that's called system chasing and that shows that these people are not even making the use of resources that they already have and they will get even more confused if they keep looking for more resources.

 

Learn from it, and make your own trading system which will work for you and become an independent thinker... That,s trading.

[Freddie]

Speaking for myself, an arch system chaser, it is to distil the wisdom from the super knowledgeble people who propose these super systems.

Naturally, I am disappointed time after time. Actually I look at the systems and think "3rd candle would get you in earlier or get you out with more of the profit"

But, I have come to see price action and breakouts as the basis of my trading, no indicators. I expect to go live in another week or two just finalising.

[mayureshete]

i have entered this forex world about a year ago, and directly started trading live, blown out 100 $ a/c gambling it, then refilled it with 500 $, and after that seeked some knowledge on internet and after a year i am around breakeven. my big problem is i dont let profits to run to my targeted level. BTW i am workin on it.