London Forex Rush System
Last night I was going to read the 60:30:10 Principle but instead started reading The London Forex Rush System manual.
London Forex Rush utilizes an intra-day stock trading strategy known as Open Range Breakout. In a nut shell Breakout traders look at the opening 30 minutes or so of a market when wild swings are common. They then track the direction of the particular stock (s) they are following immediately after that initial volatile period. The believe is that the initial direction of the stock will indicate it’s direction for the day.
London Forex Rush uses this strategy on GBP pairs focusing attention on the end of the Asian market day as it overlaps the London trading day.
I was interested in this system mainly because it uses pairs not used with FAPTurbo and Forex MegaDroid.
The one thing that really hit home was had little to do with the London Forex Rush product itself but advice given in the manual.
“I am a firm believer in specialization no matter what profession field, and trading is no different. In the long run, it’s far more profitable to master one single system than it is to dabble in several. You know , to exploit one single, reliable, recurring pattern, rather than trying to follow many.”
I am a believer in this and have shared the sentiment within my professional world over the past decades. I now realize it is what I am searching for in forex trading and the reason I test many products and read about others experiences.
What do you specialize in?
Thanks for your time,
The Forex Noob
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April 22nd, 2009 at 1:33 pm
Hi,
The London Forex Rush sounds also rather interesting, maybe worth to give it a try.
When I order it, I will do it through your site, probably you will get a small piece of the cake. (always nice).
Surprise, the Megadroid traded last night !!! Finally !!!
I also had 2 trades, exactly the same as you.
And EXACTLY the same time: my GMT offset is 2 (from Jakarta)
your trades:
01:59 buy 1.29314 02:18 sell at 1.29465
01:59 buy 1.29301 02:09 sell at 1.29403
my trades:
00:59 buy 1.29318 01:18 sell at 1.29469
00:59 buy 1.29283 01.09 sell at 1.29401
Probably most of the Megadroid users got exactly the same trades last
night.
And I must say: for the Megadroid there were not more opportunities to trade last night.
But the FAPTurbo last night made 2 very big losses !! in US$/CAD.
(as I did not follow the advice from FAPTurbo NOT to trade this, same as
they advice NOT to trade the “long Euro / US$ ).
Thanks for the London Forex Rush system.
Take care, Ben
April 22nd, 2009 at 3:17 pm
I specialize in simple, conservative average swing trades on EUR/USD 5M and 15M. I risk maximum 2% on every trade, usually place 2-4 trades every day and make a pretty steady 5% daily. No need for any fancy indicators, I just watch the price action, the stochastic and the moving averages. There’s usually enough reasonably predictable volatility on that pair during the London and US sessions to be done in an hour or two.
I whole-heartedly agree with the sentiment on specialization, there’s just too much stuff out there to get lost in. Specialize, stick to your system no matter what, and don’t spend so much time trading you get burned out or lose interest.
Oh, and thanks for writing this blog! I’m still on the fence about buying Forex Megadroid, it’ll be interesting to see how it performs in the coming weeks.