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Attachments: 0400-0700 GMT Breakout Strategy
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0400-0700 GMT Breakout Strategy

  • #541
  • Aug 3, 2009 6:47am Aug 3, 2009 6:47am
I am trying to learn some price action using the timeframe from 00:00-00:00, I need an ea for pivot lines for the preveouse time periods to back test. If anyone can make that will help alot.
  • #542
  • Aug 3, 2009 6:53am Aug 3, 2009 6:53am
Quoting iansr1
Fed,
how are you going with your Fib set up? Anything that would have helped to avoid the loss today?
yes Jason's 90 EMA method could of saved my loosing a_ss today, pardon my french.

I will follow his idea, looks great on chart.
  • #543
  • Aug 3, 2009 7:14am Aug 3, 2009 7:14am
guys as soon as possible I need an EA to back test my great idea for the 00:00 breakout, I was able to test on today's 00:00 with pivot lines and I was able to expect what the price would do for e/j, I should of used it on g/u .

it will take a while understanding this strategy as I go along everyday I will study as the pivot lines plot daily on my chart, but if I had the ea will make things fasater.
  • #544
  • Aug 3, 2009 7:29am Aug 3, 2009 7:29am
Quoting fed
it won't work at all.. I would drag it to my screen and nothing happens at all
have you tried to run in Strategy tester?
  • #545
  • Aug 3, 2009 7:30am Aug 3, 2009 7:30am
Quoting bazza
I have asked an ea programmer to code it, maybe Ronald Raygun can do, he is an EA superstar,
Bazza
it's great~Thank you
WL
  • #546
  • Aug 3, 2009 7:42am Aug 3, 2009 7:42am
Quoting wltam
it's great~Thank you
WL
I never used that feature before, but I will wait for the results from the other people
  • #547
  • Aug 3, 2009 7:45am Aug 3, 2009 7:45am
Does anybody has colored ema?

Thank you.

GE
Some pursue happiness, others create it.
  • #548
  • Aug 3, 2009 8:01am Aug 3, 2009 8:01am
Quoting genius75
Does anybody has colored ema?

Thank you.

GE
knock yourself out
Attached File(s)
File Type: ex4 MA in Color_wAppliedPrice.ex4   5 KB | 339 downloads
File Type: mq4 MA in Color_wAppliedPrice.mq4   5 KB | 416 downloads
  • #549
  • Aug 3, 2009 8:06am Aug 3, 2009 8:06am
THX

Quoting fed
knock yourself out
Some pursue happiness, others create it.
  • #550
  • Aug 3, 2009 8:46am Aug 3, 2009 8:46am
Quoting fed
hi thanks for your help, I like it, it really makes sence now when I applyed it on my chart, so looks like I should have avoide the last nights' loss by your approach.
My pleasure

Pip it all..
Sniffing Snake's Tracks...
  • #551
  • Edited 5:57pm Aug 3, 2009 5:31pm | Edited 5:57pm
Now I have the EMA 90 filtering most of the bad trades thanks to Jason , I will not going to use 7 pips buffer anymore, I will just use 1 pip from now on, I did a back test and works very well. The reason that I used the 7 pips is just incase if the price hits the line with few pips and goes against you, that is not needed anymore, just wanted to share my thoughts.
  • #552
  • Aug 3, 2009 6:03pm Aug 3, 2009 6:03pm
There will still be times when you get stopped out..... it is just part of trading so accept it and keep moving forward.
Same Whore .... Different Dress
  • #553
  • Aug 3, 2009 6:53pm Aug 3, 2009 6:53pm
Hi Everyone..
Thanks to FxSniffer, I have also adopted to apply the MAs on the chart. It helped me with the breakout in GBPUSD, though could have a lot more profit i ended up with only 57 pips. Nevertheless, it is still a good profit.

Anyways, I am not in two minds, to use the 90EMA or 50SMA on the 15 min chart. Both draw similar lines but the 50 SMA on the 15 min chart is closer to the price action.

I just did some visual backtesting and seems like the 90EMA works better on the 15 min chart.

Any ideas or thoughts?

Regards,
Gyfu
  • #554
  • Edited 8:33pm Aug 3, 2009 8:03pm | Edited 8:33pm
yeah, the most importance rule in trading is to have

loss + win = positive [end of each month]

where lost cannot be zero. If lost = zero something is wrong and u have to change something to the system to make it not have zero lost.

IMO , zero lost means it work perfectly in that market condition and if anything changes [which will sooner or later] , it will have the opposite result.

What i love about the idea of trading GMT break out is the ease of back testing with no indicator. Many system uses indicator and price action and pivot line and what not, make it so hard to back test on a larger scale.

In addition , GMT break out back test result is pretty accurate since it's very straight forward.

I have been using the GMT break out idea to trade live a few weeks back [if anyone still remember my earlier post here] and it has been profitable. My back test shows it's profitable every month since Jan 2009 till now and counting [hopefully]. I am keeping my back test records starting from Jan 2009 and add to the record after every month of 2009-2xxx and review my strategy. I did not back test 2008 but based on quick visual back test , it looks profitable.

I think the month of Aug 2009 could be a trending month and trending month = higher profit.
  • #555
  • Aug 3, 2009 8:34pm Aug 3, 2009 8:34pm
Quoting fed
Now I have the EMA 90 filtering most of the bad trades thanks to Jason , I will not going to use 7 pips buffer anymore, I will just use 1 pip from now on, I did a back test and works very well. The reason that I used the 7 pips is just incase if the price hits the line with few pips and goes against you, that is not needed anymore, just wanted to share my thoughts.
Hi fed,

Ok then...7 pip buffer not needed anymore because of the EMA 90 filter?

So...
1 pip buffer + broker spread for Buy entries;
1 pip buffer for Sell entries

Do I have this correct?

Thanks and good trading for tonight!
Bob
  • #556
  • Aug 3, 2009 8:35pm Aug 3, 2009 8:35pm
And since the 90 EMA is currently below price, if that scenario remains, we only look for Buy entries?
  • #557
  • Aug 3, 2009 8:46pm Aug 3, 2009 8:46pm
fed,

You didn't mention if you were using the RSI13 with the 90 EMA. Since you haven't mentioned it, I assume you aren't using the RSI.

I have noticed at times the RSI seems to be in disagreement with the price relationship with the 90 EMA...seems somewhat confusing.

My biggest concern in utiliizing the filters we may be establishing a better hit rate, but we will be also filtering out some pretty decent profits.

Please advise.
  • #558
  • Aug 3, 2009 8:48pm Aug 3, 2009 8:48pm
Thank you

I would like to ask what is the time range for the GMT breakout?

Quoting forexisfx
yeah, the most importance rule in trading is to have

loss + win = positive [end of each month]

where lost cannot be zero. If lost = zero something is wrong and u have to change something to the system to make it not have zero lost.

IMO , zero lost means it work perfectly in that market condition and if anything changes [which will sooner or later] , it will have the opposite result.

What i love about the idea of trading GMT break out is the ease of back testing with no indicator. Many system uses indicator and price action and pivot line and...
  • #559
  • Aug 3, 2009 10:05pm Aug 3, 2009 10:05pm
so now this strategy has totally changed, can fed please post a summary

Thanks
  • #560
  • Aug 3, 2009 10:11pm Aug 3, 2009 10:11pm
As usual.... a system that has a proven edge gets distorted beyond recognition.
Also by the way...... fed did not start this thread...
Same Whore .... Different Dress
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