I made a spreadsheet for the GBP/JPY DBO strategy.

[marike]

Hi, thank you for the new spreadsheet. Does this now work on a 10% profit take and not 25%?

[MrJingles]

Please don't thrash me..noob here. I want to give this a try so please clarify the following for me:

12am GMT = 8pm EST (night before)
So tonight at 8:00 I will note what the opening price is, place my entry points at 30 over/under that with a 10% profit/loss of the total high/low average pips from the day before (8pm the night before till 8pm tonight) and only if that amount is 200+ pips.

Do I have it right?

Thanks so much!

[goodtimes54321]

I copied them....very useful...

doubled the file and renamed one...changed the percentage to 10% on one....will use them both .....

Do you guys use a trailing stop at the min profit to protect winnings? SL??? Which is most common and productive? I'm starting ADR on Sunday.

Has anyone ever talked about running two ADR charts to spread out the risk and smooth out the P&L...instead of one order at 1 unit. 2 orders on two good charts at .5 unit each. Essencially risking 1 unit over two charts. If you're winning 8 of ten orders it seems like the odds of having two charts go bad on a given day would be very low. You'd have more days where you made nothing but very few losing ones. This would seem to have a positive mental effect on ones trading. Very few losing days. I'm wondering if you could use a little higher leverage by spreading the risk.

[Pip Machine]

Thanks for this spreadsheet! It's a nice tool that helps speed things up. One question: how do you figure FA's DBO method on a Sunday night (EST)?

At 12am GMT on Monday morning "yesterday's" Daily Range consists of only 2 hours of trading. I would think you plug in Friday's numbers, but I'd like to know how others look at this.

Thanks!

[Corey]

Thanks for this spreadsheet! It's a nice tool that helps speed things up. One question: how do you figure FA's DBO method on a Sunday night (EST)?

At 12am GMT on Monday morning "yesterday's" Daily Range consists of only 2 hours of trading. I would think you plug in Friday's numbers, but I'd like to know how others look at this.

Thanks!

I was told not to trade on Sunday evenings for that reason. It is not accurate to use because the markets have been closed all weekend.

[jbell]

Hi, sorry if this is a really dumb question, but i'm going to ask it any way!

FA's DBO method mentions finding the opening price of the daily candle at 00:00 GMT time.
My brokers server which is ODL runs on 00:00 GMT, but we are at present on British summer which is GMT 00:00 + 1 hr, does this been I have to wait untill 1am candle to open (which will be 00:00 GMT on my servers charts)? Or do I find the opening price at 11pm candle on my chart which is midnight British summer time (GMT+1)?
confused

[karma1416]

Hi jbell, I recognise the dilemma as I am also in the UK. If the chart you are using is in GMT then you would use the 00:00 candle as on the chart. If your chart is in British Summer time then use the 01:00 candle. Either way it will still be 1 am local time in the UK. Hope this solves the problem. Mary.

[jbell]

Hi Mary, That great thankyou.
James