Originally Posted by markyboy

I didn't trade live last night as Monday seems to be volatile. Here are the results on my test account (total loss of 21.7 pips due to the EURCHF tank!!!)

Open Time Type Size Item Price S / L T / P Close Time Price No. of Pips Swap Profit
2009.04.06 23:22 buy 0.11 eurgbp 0.90877 0.89760 0.90940 2009.04.07 00:24 0.90907 3.00 0.02 3.30
2009.04.06 23:58 buy 0.10 eurchf 1.52326 1.51800 1.52380 2009.04.07 00:35 1.52380 5.40 0.14 3.22
2009.04.07 01:21 buy 0.11 eurchf 1.52313 1.51780 1.52360 2009.04.07 01:56 1.51780 -53.30 0.00 -35.14
2009.04.07 01:26 buy 0.10 eurgbp 0.90877 0.89760 0.90940 2009.04.07 01:34 0.90940 6.30 0.00 6.30
2009.04.07 01:34 sell 0.10 eurgbp 0.90995 0.92120 0.90940 2009.04.07 01:34 0.90940 5.50 0.00 5.50
2009.04.07 01:37 buy 0.10 eurgbp 0.90863 0.89740 0.90920 2009.04.07 01:52 0.90920 5.70 0.00 5.70
2009.04.07 02:29 sell 0.11 eurgbp 0.90997 0.92120 0.90940 2009.04.07 02:31 0.90940 5.70 0.00 6.27

Some people seem to be getting earlier trades due to the fact that their GMT is still set at +1 on Alpari UK. I have mine set at +2 due to Daylight savings. Which is better????

Originally Posted by Simmo

Well, the whole point of the scalper was to trade during the quiet asian session when the New York market has closed. New York still closes at 21 GMT, but Alpari UK for instance is now at +2 due to British Summertime, So 21Gmt is now 22 BST in the uk and 23 bst on the market watch.
It's up to you really if you want the scalper to trade the last hour of the New York session where it's likely to be more volatile.
I tend to wait until I see the EUr/gbp settle down into a nice non trending channel, whatever time it is So if it stays in too much of a trend I may not even turn it on.

Originally Posted by markyboy

Thanks Simmo - that's a great explanation. I'll stick to +2 for now....

...I didn't trade live last night due to Mondays always being a bit dodgier than the rest of the week. Are there a lot of risks currently anyway, due to year-end profit taking?