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Straddle Methods

  • #1
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  • First Post: Apr 30, 2008 3:50am Apr 30, 2008 3:50am
Hi,
Was thinking to try straddle before London open. What pairs are better than others to do this, and would +-50 pips from current price be good, or would be better see range of last 4 hours and put buy/sell just a little bit out of the current ranges. Any thoughts? Thanks.

Sometimes it will go up 50 pips and hit my buy, and then drop 100 pips and hit my sell. So that's a bad trade. Any thoughts, or ways to make it better.
  • #2
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  • Apr 30, 2008 8:35am Apr 30, 2008 8:35am
London... GBPUSD and other pound-based pairs often move around a half hour after the London open (GBPJPY, GBPCHF, etc). Sometimes they wait till the euro open tho (an hour later), so be prepared for that. If that happens the EURUSD and the EURJPY usually move pretty well.

Take a look at the Tokyo&Aussie sessions and get a range from that, use that as a straddle. Seems to work pretty well.

You'll still get whipsawed like crazy tho (whipped in, then out to SL) so be sure to set BE very quickly (end of the first profitable bar usually, assuming M15). Nothing you can really do about that, altho whips seem to happen more on Monday and Friday (Crunch the stats on that, but it's a trend I've noticed over the last few months). Some people will use a tighter SL, others close half their trade for a partial profit and move to BE, lots of ways to manage your gains/losses... just find whatever works for you.
  • #3
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  • Apr 30, 2008 9:57am Apr 30, 2008 9:57am
Thanks Rabid, btw, what is BE stand for?
  • #4
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  • Apr 30, 2008 11:01am Apr 30, 2008 11:01am
Breakeven ... entry (including slippage) + spread
  • #5
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  • Apr 30, 2008 11:37am Apr 30, 2008 11:37am
Quoting Rabid
Breakeven ... entry (including slippage) + spread
thanks. that's great advice for me.
  • #6
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  • May 1, 2008 1:58am May 1, 2008 1:58am
Do you have any data to support this method? have you backtested anything thus far? I am very interested
  • #7
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  • May 1, 2008 8:12am May 1, 2008 8:12am
Quoting Clouds
Hi,...Any thoughts, ...
Spend less time Posting and More Time Educating You.
What if I were to say...
"20 Pip SL and 100 Pip TP is the way to go."
Would you blindly take that {verrry poor} advice?

Listen Guys, There is no "One Size Fits ALL" in this game.
You need to have your Armour Custom Tailored to You and YOU are the only one person alive that can give your Armourer your True Measurements. Lie if you like, but then don't expect it to fit Perfectly. And, Just as in the physical world, Dimensions Change & alterations become the norm.

Oh, & btw.
Apart from you being employed in the Armoury, You have just been promoted to "Master of the Armoury."
So guess what.

It's up to you.

Cruel World, ain't it.
  • #8
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  • Last Post: Feb 22, 2026 4:16pm Feb 22, 2026 4:16pm
Hey,

I have a question regarding a similar topic.

It's about, for example, a quick entry by clicking sell and buy simultaneously on the EURUSD, but not before the news. I'm thinking of 1-2 trades per day, for example, after the opening of London and New York. What parameters would you recommend for this type of trade to eliminate the whipsaw effect as much as possible? I'm referring to the distance in pips of the SL and TP. I'm currently testing a SL of 20 pips and a TP of 30 pips. As you can see, with this approach, 1 whipsaw will erase 4 successful setups, meaning it's a negative RR ratio of 1:4.

Cheers
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