Seems like much the same as yesterday-big news announcement acting as a brake on any market move that normally would have followed through, then a bad result sent the £ through the floor
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MBO = Monday Break Out 8 utc gmt - 7 utc gmt 22 replies
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Dislikedhi
do we leave the pending short open or we cancel it when the long is triggered ? i left it , so i am short now
thanksIgnored
DislikedThanks everyone for posting the today boxes.
I see that there is ~10 pip buffer on both sides of the boxes, can anyone please clarify at which point you enter the trades.
Also if anyone can point to the actual system rules, as I see some people go for straight breakout with 30pips TP, someone goes for two TP's 30 / 60 ..
FxggIgnored
DislikedFed,
Do you use 2:00 - 5:00 GMT, with a 7 pip buffer (plus spread for longs), with two T/P (at 30 and 70), with resetting s/l 2 to break even when t/p 1 is triggered?
If so, I get 102 pips for this week. Please let me know if the attached image does not follow your rules.
Thanks for your help,
Jason
AttachmentIgnored
Dislikedhi, this weekend I will prepare a guidance with my style of rules, I am tied up right now with work. I looked at your chart there and I saw -46 and -48? what are they? and how did you get them? For long if 7 pips + spread and for short 7 pips no spread. I could of had about 130 but on one I got lucky where when I entered in manually the price pulled back like 4-5 pips, I think it was on wednesday and that way my 2nd TP hit for profit for full 100 pips that day, other wise I could of had 130 pip week...... But give me some time, on the weekend I...Ignored
DislikedI never had any -46 pips SL when my first TP hits for 30 pips profit though, when that happens I make sure the 2nd order breaks even and I don't have a loss, i change the SL to the entry price. I have to check my records but I think I had monday 100 pips, tues 100 pips wed 100 pips and thursay 30 pips and friday -100 pipsIgnored
DislikedI guess I don't know how you set your initial s/l. I assumed it was at the opposite end of the box. Is that not the case?
It could be also that I let buy trades trigger even after sell trades have triggered. Do you cancel your pending orders in the opposite direction when one set is triggered?
Thanks,
JasonIgnored
Dislikedthis strategy is the london open variation of "7am-9am Big Dog USD Breakout Strategy" http://www.forexfactory.com/showthread.php?t=103682Ignored