DislikedI was going by what was written and not the charts. However, the charts should show a 3hour band as that is what was quoted (imo)!!!
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DislikedI was going by what was written and not the charts. However, the charts should show a 3hour band as that is what was quoted (imo)!!!
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DislikedI agree with Bill that the charts show the 7.00gmt candle included in the range. Thus giving entry after its completion 3 1/2 hrsIgnored
DislikedThe strategy is very simple. Draw two lines....4am-7am (high or low). When price action breaks this line either way, you enter the trade.
You DO NOT WAIT 30mins (7.30am) to enter a trade! If price action breaks the line drawn at 7.01am you enter the trade then. It's no different to other breakout methodologies?!?
I just wanted to know the logic behind selecting a 3hour band?
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DislikedYou WAIT FOR 30 mins to enter a trade. Please look at the example given on 1st post and figure that out yourself. I think u are confused.Ignored
DislikedI agree with Bill that the charts show the 7.00gmt candle included in the range(7 candles includedin range). Thus giving entry after its completion 3 1/2 hrsIgnored
DislikedYou are correct.
Just glancing back for a week or two it appears it would do better by ending the box at 0700 rather than 0730, or one bar shorter than the box he is showing.
London opens at 0700 GMT. There is usually a big move at this time. That movement could be used in making profit.
I'm not ready to say this would be better, I didn't really test it, but it's something that should be looked at.Ignored
Dislikedvoting so far for 13 against 3
now if any of the 3 who voted against can you please explain why for this looks good so far
also about mm for this the reason am asking is you are at times risking 90 pip range to profit 30 so Risk to Reward is 3;1 ( i hope i got that right )Ignored
Dislikedvoting so far for 13 against 3
now if any of the 3 who voted against can you please explain why for this looks good so far
also about mm for this the reason am asking is you are at times risking 90 pip range to profit 30 so Risk to Reward is 3;1 ( i hope i got that right )Ignored
DislikedI voted against , this is my style. Whenever there is a thread that ask for poll , i will choose the worst one without reading the thread first.Ignored
Dislikedyou are right about bars that i share on first page. mostly it doesn't change buy and sell orders but sometimes it may cause stoplosses. it is because of box breakout indicator that includes last bar for bands. i use m30 chart and enter orders after 07:30 bar closed.
for ex. on jul 8 i use m30 chart and enter orders after 7:30gmt so buy order didnt hit and i close the day without sl.
but if i had use m15 or m5 chart i would have entered orders at 7:15gmt and buy order did hit and i would have lost the day.Ignored
Dislikedmy backtest result looks good [backtest include trending and ranging market] , I will go live on Monday since this system is very straight forward [no need price action , no need pivot level , no need trend line] and backtest is 100% correct without any repaint INDICATOR. I am not following exactly as per post #1 becoz it's less profitable than the one i have thought of and backtested but I am following the core of 4-7 highest high lowest low break out.Ignored
DislikedI voted against , this is my style. Whenever there is a thread that ask for poll , i will choose the worst one without reading the thread first.Ignored
Dislikedthere are hundereds of new threads on forexfactory and i thought that adding poll is good to attract attention. my ego could be fueled by earning some money. and goal of all us is same. i suggest you to read the thread and gain some more money.Ignored