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Bankers Close Two Rounds This Time

It’s a little late to be writing, but I said I would post this today.

This was a big news day and the two big announcements resulted in what I would call a net break-even. The first announcement drove prices on the EUR/USD down by 76.5 PIPs and the second big news drove the price back up by around 89 PIPs.
If you know how to trade those swings, feel free to share your knowledge with us in the comments. I could use the PIPage.

Thanks to Todd, we had a lesson in how to prepare for the setup of the Bankers Close strategy in the Daily Forex Fanatics session today. Thanks, Todd!

As noted in my last post about my first success with this, it is all in the timing. And, the timing starts right after DFF is over. More specifically, for me, it starts at around 8:15 a.m. Pacific Time – that’s 16:15 GMT.

In this post, I’ll show you my Orders History first. You’ll have to take my word for it, there were seven trades earlier in this list, but I’m just too tired to do the work it would take to produce one more image for this purpose.  Those trades were a net negative 7-8 PIPs. So, I was down for the day when I started scalping from the bottom up. As you’ll see, it got worse and I was down 40-50 PIPs before things started to go my way!

Click any image below for a larger (more readable) version.

This next image picks up where that one left off and shows you how things finished into round one of a two-round session of trading this strategy. In this image, look at trades from ID number 1113 to 1140, as that is the total range of trades taken in a span of about twenty minutes. I’m scalping a few PIPs all the way up as I’m hoping to see the price take out the last top (it does not take out the top, so I enter the trade when it starts coming down.)

Then, I reversed at the top for round one of this strategy. Trades 1131 through 1140 are the other side of the buying (and selling scalps) I had been doing up until then. Although I captured 80+ PIPs on the way down before I bailed out on my last couple of positions, at some point I was up over 100+ PIPs and let greed get the better of me, so I gave back about 20% before taking it all down.

If you noticed trades 1141 through 1145 in that list you might also notice the time stamp on those is just a few minutes later… A minor Apiary Pivot had printed at the top of the last run up, so that got my interest and I started setting up for another round. Now 45 PIPs in the green, I was willing to risk 40 PIPs on the possibility that I had been too early in round one. As you can see, that worked out pretty well for me. For what it’s worth, here is the last image I captured while in the first round.

Unfortunately, I don’t have images to show you for those last four trades, as I had put on my headphones and thought I was recording sound along with my screen to document the second round. Alas, the equipment was not quite right and I got the desktop image recording with no sound. One of these days, I’ll get it right and trade with strategy with live money.

Below is an image with those last four trades plotted on the chart. Enjoy!

 

1 thought on “Bankers Close Two Rounds This Time

  1. I appreciate your enthusiasm. Well done! I’m going to pay attention to these posts

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