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London Open Breakout Strategy for GBPUSD 18 replies
GBPUSD Breakout Trading System 18 replies
15 min indicator on 5 min chart 3 replies
Backtesting w/ 1 min tick gap 0 replies
5 min forex with Oanda 11 replies
DislikedThanks Bob,
I didn't get pipped in on the long (just about missed it), so took profit on the short.
I understand Cains adding the spread to the box but don't see what the significance is of adding it to the long side but not the short side, in forex longs and shorts are in effect the same unlike in the stockmarket.
Anyway, good pips taken by everyone again thats the most important, especially on a fiddly day like today with no real direction.
ps - Adding the 3 pip spread to the buy buffer doesn't match with the 17 pip difference you said...Ignored
DislikedCain,
My manual backtesting to Oct 1, 2009 indicates your doubling-up lot size on the opposite trade after the 1st trade loses, is highly successful. I'm showing 15 wins out of 19 trading sessions including the last 9 in a row. Given the success rate, what do you think about increasing the 2nd order to 2.5x or perhaps 3x the first losing trade? Does the thought of this make me a greedy person? Of course!
If the first trade wins...all the better.Ignored
DislikedI'm looking at the Average Daily Range for guidance ... for example, if the ADR is 170, a "good" box should be 30% of that or less (51 pips) ... (or maybe 35%, or 40% ... I haven't worked out the best percentage yet) ... the logic being, if it's only moved 51 pips so far, there's room for another 119 pip move ... and, obviously, if the box is too big, there's not much room for further movement ...Ignored
DislikedMy long entry was at 16318 and the price high was 16318, some people may have been lucky and not have been pipped in.Ignored
DislikedReally nice and simple system ! i started using this today and banked nice 53 pips
and yes, im with FXOpen and got filled on 1.6317 (long) today and the price went down all the way.
Sl 50 pips, doubled the lot size of the short pos. and this was a winner
anyone thought of using us open with this system too ?
and how do you manage lot size if your not watching the screen all the time ?
we need to get a EA outta this one!
rgds 4 this nice system !Ignored
DislikedI'm not a good mql4 programmer so I'm only trying to test some trading strategies, especially box breakout.
I'd like to discuss with you the best way to implement Cain's strategy, so we will be able to backtest it carefully. Moreover, as a lot of you, I have a work and not so time to stay in front of a pc...Ignored
DislikedI have done some manual testing on MT4 for the period from 31st Aug until today. I'm not sure how accurate the MT4 data is but I found it quite interesting nonetheless... I included trading days with a range above 75 pips as zero as I think the target is too far..anyway in a total of 77 trading days using Cains rules I found that there would have been 2004 pips profit..thats an average of 26 pips a day......Ignored
DislikedBob,15 wins and 4 loosers,but the loosers are for 3 lots each i.e the original buy and and the double up.
This equates to 15 wins and 12 loosing trades,one more on the loosing side and its 15wins and 15 loose .
Regards AlbIgnored
Dislikedsell stop 1.6246 sl 1.6281 tp 1.6210 result -36 pips (0.1 lots)
buy stop 1.6284 (spread factored in) sl 1.6246 tp 1.6324 (0.2 lots)result 40 pips profit.
I like this system would indeed add to my repertoire of system thanks cain.Ignored
DislikedThis looks like something we should take in consideration, let us know when you have some more detailed info on that.
Thanks in advance!Ignored
DislikedI'm not able to implement this part of the strategy. How to find if an order was closed by a stoploss or a takeprofit? not always OrderClosePrice()==OrderStopLoss() is the right condition! In which way have I to examine the orders history?? and then which is the right way to double lot size?
I need same sample code to understand!
I hope someone will give us some ideas to implement the EA! thanksIgnored