Big ben strategy
This is a discussion on Big ben strategy within the General Forex Strategies forums, part of the Forex Strategies category; THE BIG BEN STRATEGY Opening-range breakout techniques have long been favorites of intra day stock index traders. A similar technique ...
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#1
12-13-10, 04:06 PM
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Big ben strategy
THE BIG BEN STRATEGY
Opening-range breakout techniques have long been favorites of intra day stock index traders. A similar technique can be used in the currency market to capitalize on price moves in the British pound. The BIG BEN STRATEGY is a well known strategy. It is a day-trading technique that takes advantage of the shift from trading from one market center to another in the 24-hour forex trading environment. The BIG BEN STRATEGY is designed to capture the first directional intra day move that often occurs within the first few hours after the European market opening. The strategy works best with the GBP/USD. The logic behind the BIG BEN STRATEGY is the GBP/USD tends to have lower trading volume outside European trading hours because the majority of GBP/USD spot deals are worked through U.K. and European dealers. There are many different trading rules out here for the BIG BEN STRATEGY I am trading this strategy as follow: If all the trading conditions are met, then I place 1 trade per day. I will buy or sell the GBP/USD at market price at 06:30 London Time with a take profit of 35 pips and stop loss of 40 pips. When the trade is with 20 pips in profit I move the stop loss to the break even. Sometimes I will change my opinion during the trade and I close the trade before hit stop loss or take profit. It will usually happen if the market isn't developing as I expected and the charts show me that the trade lost its power. I start trading off with risk of 3% of my total capital on any opening trade. Happy trading! Uwe 
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#2
12-13-10, 05:50 PM
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Big ben strategy
Here are the result for the pas 3 month.
Happy trading! Uwe
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#3
12-18-10, 10:04 AM
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Big ben strategy
The week was not so good we can feel already the holiday season. We had only 2 valid set up. The market is very slow and no movement at all!
Weekly summary: 2 trades, 0 profit, 1 loss, 1 breakeven. 17th I closed the trade before after a 4 hour up and down only a view pips. And I was happy I did because 2 hours later the market went down.. We lost this week 38,9 Pips. But we are still + 92 . With 3% risk per trade our overall profit is 8,76%.  Have a great weekend and a good next week Uwe
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#4
12-19-10, 05:49 AM
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Big ben strategy
My fellow Follower,
Trading hours during Christmas season: Thursday 23rd and Friday 24th December I'm not trading. From Monday 27th to Thursday 30th December I will place order if we have trade set ups. But please keep in mind the market is very slow during this time and I expect not a lot of trade opportunities. Friday 31st December I'm not trading. From Monday 3rd January 2011 I start normal trading. I wish you and your family a Merry Christmas and a Happy New Year. And all for us a lot of pips in 2011 Thank you for your confidence! Uwe
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#5
12-23-10, 10:29 AM
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Big ben strategy
Yesterday I got an funny message from one of my subscriber:
“You have destroyed mu account and I will destroy you as my signal provider forever. Thank you for this consecutive set of losses, after first losses I tried to defend my account by increasing the lot number, but you kept lossing. This is a warning to other traders....BTW I do not see big difference in overall performance between you and free daily 30 pips signals on the net.....very very dissapointing.... “ First when I wrote that, I was shocked because of two things what he wrote:
How a Forex Trader can write something like this, and does a good Forex Trader increase the lot size after a loss? I don't think it is a Forex Trader, I belief he is a gambler. And this message was sent to me because he trade the Big Ben Strategy or should I say he is gambling with single trades. I am trading this strategy since 106 days. I have a total return of 44,06%, profit factor 1,88. I took 54 trades, 33 winners and only 13 losers. I started trading with an account of 5,000$ now in my account is 7,202.85$. MT Intelligence - Statement for fxtc01 And do you know why I have this because I am exactly following my rules and I stick 100% to my Money Management rules. For sure everybody wrote already “95% of the private traders a losing their money in the Forex Market”, but even people who are following a profitable strategy losing their money and do you know why? Because they look to the performance page and they look for the result of the strategy. After they find one and they are satisfied they start to trade. What can happen now e.g. 1. trade profit. Happy. (teeth) 2.3.4. trade loss. Unhappy (baring) Lost a lot money, the provider is bad, going back to the performance page and looking for a other signal provider and start trading with a new provider and then start the same over and over again. This type of people are not Forex Trader, no they are gambler and they are on the wrong place. Better for them to go to the casino. Forex is a business we are not gambling here. There is no Holy Grail out there and every strategy has his consecutive sets of losses, but to be protected of loss you as a follower of a strategy has to stick as well to the rules like the provider and the most important factor is your personal Money Management and everything will be good. There is no business in the whole world where you always win. The most import is what we have ad the end of the year. I am a business man and a Forex Trader and I belong to the 5%. So please don't make that mistake. If you can not trade by your own then look for a good provider and stick with him in good days and in bad days, because at the end you belong as well to the 5% and not to the 95%. Thank you Uwe
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#6
12-26-10, 10:24 AM
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Big ben strategy
You have to be prepared that there will be weeks or even months where we make nothing, or even we will loss. But my live trading since September 2010 and the backtest since January 09 (see below) show that the most moths we end in profit. And if there a losing month, don't worry the profits are much higher.
Important: If you have a losing month, keep trading the same strategy and you will earn back what you have lost and more. If you stop trading and jump to a other strategy then you have lost your money forever. Be a businessman and a Forex Trader and not a gambler. A famous Forex Trader teached me that. Have a great day Uwe 
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#7
01-02-11, 04:14 PM
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Big ben strategy
December was the first month with a small loss of 20 pips. Witch represents 2,39% loss of the account (providing we risk 3% per trade).
But the overall profit is 40%. MT Intelligence | Statement As for the future trading, there’s no change. December results only means that the markets in December were not behaving normally, not that the system is no longer working. The BIG BEN STRATEGY is normal trading system, it is not a holy grail that is profitable 100% times. We need to be prepared that there will be 1, 2 or even 3 losing months every year. As long as the rest of the months are profitable, it is still a lot of edge to make money on. A psychological help for people who have problem coping with losses – I think about my losses not as the money I lost, but as money I lend to the market. It has to return back to me, and much more.
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#8
01-09-11, 10:42 AM
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Big ben strategy
BIG BEN STRATEGY
The first week in January was again not profitable for us we are still in a loss period. Weekly summary: 4 trades, 0 profit, 2 loss, 2 breakeven. We lost this week 80 Pips/ 2.14% loss. . I have decided to trade a different Money Management method. I trade now the Supreme Money Management. Just go and download the e-book Money Management Have a great weekend and a good next week Uwe
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#9
02-03-11, 11:59 AM
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Big ben strategy
The first month of the new year 2011 is over and we closed the month with a profit. Not so much but I closed with 1.5% and I nearly covered the loss of 1.85% from December.
 My total gain now after 148 days trading this strategy is 47%.  In December I reduced my risk per trade to 1% and I changed to 2% from 24th January 2011. You see how important it is to manage your trades with your proper Money Management. I'll keep trading now with 2% risk. I will advise you when I change back to 3%. My statement at MT Intelligence | States BIG BEN If you want to trade with me just visite: Zip Signals or Zulu Trade
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