The C.O.T.L system - Page 3

jimmyking · #21 (**permalink**) 03-31-2007, 05:16 AM

If I guess
C O T L
Close, Open, Timezone, Lodon

jimmyking · #22 (**permalink**) 03-31-2007, 05:25 AM

If close > LondonOpen && open <LondonOpen
Then Buy
reverse is true for Sell

yakka · #23 (**permalink**) 03-31-2007, 06:10 AM

I think TL stands for Trend Line.

If you are still keen on buying it after reading the poor reveiws on it then i suggest you try this site:

www.traderstradingsystem.com

you can get the ZTL/COTL plus a bunch of other systems for about half the cost.

yakka

tian_fx · #24 (**permalink**) 03-31-2007, 06:32 AM

Quote:

Originally Posted by jimmyking

If close > LondonOpen && open <LondonOpen
Then Buy
reverse is true for Sell

That I know from this system is:
Data:
- If Close London Market 17.00 GMT > Open London Market at 08.00 GMT &
Price below it so take Sell Gbp/Usd with TP:15 pips SL:6 pips
- If Close London Market 17.00 GMT < Open London Market at 08.00 GMT &
Price up it so take Buy Gbp/Usd with TP:15 PIPS SL:6 PIPS

We need to make a Line from Candle Chart in London market close to
Candle Chart in London Market open the day next at 07.45 GMT.
Because time frame from this system is 15M.

Hope this Help

tian_fx · #25 (**permalink**) 03-31-2007, 06:40 AM

Quote:

Originally Posted by jimmyking

If close > LondonOpen && open <LondonOpen
Then Buy
reverse is true for Sell

That I know from this system is:
Data:
- If Close London Market 17.00 GMT > Open London Market at 08.00 GMT &
Price below it so take Sell Gbp/Usd with TP:15 pips SL:6 pips
- If Close London Market 17.00 GMT < Open London Market at 08.00 GMT &
Price up it so take Buy Gbp/Usd with TP:15 PIPS SL:6 PIPS

We need to make a Line from Candle Chart in London market close to
Candle Chart in London Market open the day next at 07.45 GMT.
Because time frame from this system is 15M.

Hope this Help

jimmyking · #26 (**permalink**) 03-31-2007, 06:49 AM

if
iClose(NULL, Period_M15,1)>LondonOpen
&&
iOpen(NULL, Period_M15,1)<LondonOpen
Then
Buy

jtre · #27 (**permalink**) 03-31-2007, 08:46 PM

it is good to me

Oligarh · #28 (**permalink**) 03-31-2007, 08:58 PM

Hi! http://www.forexmoneystrategy.com/dailyhistory.htm

takechance · #29 (**permalink**) 04-02-2007, 07:55 AM

This COTL is one of the WORST system I have ever found.

How dare somebody just finds something interesting on chart and immediately starts selling it for 200 bucks. Massive cheater.

p.s : May be I was over reacting. Yesterday's trades with COTL was indeed very good. I made a neat 85 pips with it. Cheers.

jimmyking · #30 (**permalink**) 04-02-2007, 08:26 AM

May be there are some different about this system.
I have study the line crossing system for quite some time. It has one advantage. That is price either higher than the line or lower than the line. So on pure math point of view this system can never loss.
Here is some draw back:
It has the problem of all crossing system,
1. one have to buy higher and sell lower.
2. Often time the price cross back forth many many times and all the trade entries end up lossers.
3. when news comes one may buy 100 pips above the line or sell 100 pips below the line according to entry rules.
to overcome the buy too high sell too low problem one can use price action to do the entry that is if bid/ask cross the line then make entry. But it will have many many back forth entries since price often cross round lines many many times.
to overcome too many back forth cross problem one can use short period MA cross line buy often buy too high and sell too low.
I'm sure these are very common problems that we all face in design a trading system not just line crossing systems.

In fact it doesn't matter too much where you draw the line. London open is only one excuse to make entry. The same problem is always there.