Out +20 GU short
Another simple breakout system 32 replies
(False) Breakout & Trend Reversal Strategies?? 12 replies
My Asian Breakout trading Journal 54 replies
Nomoretoxic's Money Management 34 replies
Playing the Breakout Trade 4 replies
DislikedYou work one side of the box. If nothing happens and there's an evident move to the other side, then you work the other. You wait and position yourself ahead of time....if nothing happens, well, move with the herd to the other side.
Doing that you will accomplish two things
1) avoid a shake-out due implied volatility AKA news/announcements.
2) Minimize the risk of a false breakout as the charts illustrate.
cheersIgnored
Dislikedwhy would you place your stop so far away. At that level you would need 7 ish winners to cover that loss. You could've used a stop above the high of the retracement that on ibfx was around 1.8493. That was still far away, but 40 pips closer then yours (2 winners).Ignored
DislikedI used a stop of 1.8493. The top of the retracement. Nice trade!!Ignored
DislikedI used 1.8493 as well (FXCM feed)
Short 1.8433
TP 1.8413
Didn't think this pair would amount to anything today.....good thing i just followed the system.....
thanks again nomoretoxicIgnored
Disliked+ 20 GU london session
+ 20 GU NY session
+ 20 UJ
+ 20 EU
pending on the usd/cad. Might be only loss for the day. Time will tell.
+80 for the dayIgnored
DislikedI just got back to my computer to see that the trade that i entered on GBPJPY triggered for another +20 PIPs
Entry 195.99
SL 196.47
TP 295.79
nomoretoxic, how long do you hold the trades open in the London and NY timeframes?Ignored
DislikedNY - anything after 2:00 PM - 3:00PM I probably won't take it.
But, there's exceptions. On that it's your call.
. - If you see the market getting choppy after 2:30 PM - Better to stay out , especially on Fridays.
On London - I try to complete my trades before the NY Box starts - another judgment call...I mean, if the market keeps rolling, go for
CheersIgnored