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Multiple Currency Breakout System (Mobile friendly)

  • #21
  • Nov 2, 2018 1:58am Nov 2, 2018 1:58am
Quoting scsstnt
Good morning London open this morning was amazing all 13 pairs on my watch list has hit at least target 1,but the thing is validity kicked off most according to the rules NZDJPY and NZDUSD are the 2 trades I took and they were successful.....I have setup the box for each trading session and created profiles in MT4,amazing BO trading system,thank you so much Fxmd :-)
How you already traded London session if just right now I 7:00 London time?
I'm sure because I'm based near London
  • #22
  • Nov 2, 2018 4:42am Nov 2, 2018 4:42am
Hi FXMD,
What are best pairs for London open and what are best for NY open.
  • #23
  • Nov 2, 2018 1:20pm Nov 2, 2018 1:20pm
Quoting Ramana
Hi FXMD, What are best pairs for London open and what are best for NY open.
Today I bought AUDNZD at London open but price reversed and hit my SL. After I sold and reached TP.
  • #24
  • Nov 2, 2018 2:33pm Nov 2, 2018 2:33pm
Quoting Merka
{quote} How you already traded London session if just right now I 7:00 London time? I'm sure because I'm based near London
When I typed the post I had been trading live in London session and BO already occurred thats why i can tell all my 13 pairs went to target 1 at least.....3am here in est time.The problem is 11 of 13 pairs were invalid no trades because most ma's touched price in the box. I sent Fxmd all 13 screenshots. I'm not a newbie in trading I'm just new to FF :-)
  • #25
  • Edited 4:53pm Nov 2, 2018 4:02pm | Edited 4:53pm
Quoting scsstnt
{quote} When I typed the post I had been trading live in London session and BO already occurred thats why i can tell all my 13 pairs went to target 1 at least.....3am here in est time.The problem is 11 of 13 pairs were invalid no trades because most ma's touched price in the box. I sent Fxmd all 13 screenshots. I'm not a newbie in trading I'm just new to FF :-)
That's strange
When I replied to your post was 7:00 in UK where I'm based and I was just getting up from bad and London session was due to start at 8:00 while me I start to work at 8:30.
Remember here in UK we just changed time zone and we are not any more at BST.

Below is my AUDNZD trade today so we can compare our boxes.
The original buy side of this setup failed but after I reversed the direction and TP from short side.

Cheers
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDNZDM5 1.png Size: 38 KB
Click to Enlarge Name: AUDNZDM5 2.png Size: 35 KB
  • #26
  • Nov 2, 2018 10:02pm Nov 2, 2018 10:02pm
Hi to all and thanks for the idea!

This seems an interesting system, for the sake of curiosity anyone coded an EA to test this approach in the last 2 years or something ? Maybe this would be something cool to do, especially because some market behavior stays for some time.
  • #27
  • Nov 3, 2018 4:19am Nov 3, 2018 4:19am
Quoting Merka
{quote} That's strange When I replied to your post was 7:00 in UK where I'm based and I was just getting up from bad and London session was due to start at 8:00 while me I start to work at 8:30. Remember here in UK we just changed time zone and we are not any more at BST. Below is my AUDNZD trade today so we can compare our boxes. The original buy side of this setup failed but after I reversed the direction and TP from short side. Cheers {image} {image}
I'm up around 3am EST time each morning trading,my timezone is -4.00 GMT.I can tell you London BO is probably the best of all 3 trading session. I was speaking about those 13 pairs on my watch list and all took at least target 1 profit if the rules are broken.But the system protects the trader from taking the best and leaving the worst ''no trade'' setups,many time trades that won't be a qualifying setup might bring you profit.But its wise to leave it alone unless you know price action well and can determine the fakeouts in wrong directions it can become beyond highly profitable
Attached Image (click to enlarge)
Click to Enlarge Name: watch list.JPG Size: 20 KB
  • #28
  • Nov 3, 2018 3:08pm Nov 3, 2018 3:08pm
Quoting scsstnt
Good morning London open this morning was amazing all 13 pairs on my watch list has hit at least target 1,but the thing is validity kicked off most according to the rules NZDJPY and NZDUSD are the 2 trades I took and they were successful.....I have setup the box for each trading session and created profiles in MT4,amazing BO trading system,thank you so much Fxmd :-)
Hi scsstnt,
Would you please share an example of how you setup the box for each trading session?
Thanks, TX
  • #29
  • Nov 4, 2018 7:26am Nov 4, 2018 7:26am
Quoting Tx15
{quote} Hi scsstnt, Would you please share an example of how you setup the box for each trading session? Thanks, TX
Look post25 for London session and similarly for all other session.
You just need to create the box 1 hour before your session starting.
simple
  • #30
  • Nov 4, 2018 10:49am Nov 4, 2018 10:49am
Quoting Merka
{quote} Look post25 for London session and similarly for all other session. You just need to create the box 1 hour before your session starting. simple
Hey Merka,
Thanks for your response and yes, I do understand how to draw the boxes and the system. Scsstnt had mentioned that he had created profiles in MT4 and that appealed to me.
Take care and wish you well tomorrow,
TX
  • #31
  • Nov 4, 2018 1:18pm Nov 4, 2018 1:18pm
Quoting Tx15
{quote} Hey Merka, Thanks for your response and yes, I do understand how to draw the boxes and the system. Scsstnt had mentioned that he had created profiles in MT4 and that appealed to me. Take care and wish you well tomorrow, TX
Hi Tx15 yes I did. I applied the template on 13 pairs as i mentioned,I would name the template and edit the box 1hr before trading begins for each session and i would called it ASIAN,LONDON and USA,templates that is.All 13 pairs now has the same 1hr settings for ASIAN session,lets say this is next upcoming trading session right.

I'll create a profile called ASIAN and all 13 pairs are assigned to this profile name,then i'd look for setups that meets the criteria with rules.....last week i got all BO going towards Target 1 was I could not believe,but we had some touches on the SMA's and less than 10 pips or greater than 25 pips in some cases for the high/low 1hr boxes prior to the asian session.Some asian sessions I won't get a valid trades,this is how it can be at times. Tell me if it makes sense,I'm trading 1 year now,I spend many hrs per day reading and enjoying it. :-)
  • #32
  • Edited 3:09pm Nov 4, 2018 2:36pm | Edited 3:09pm
Quoting scsstnt
{quote} Hi Tx15 yes I did. I applied the template on 13 pairs as i mentioned,I would name the template and edit the box 1hr before trading begins for each session and i would called it ASIAN,LONDON and USA,templates that is.All 13 pairs now has the same 1hr settings for ASIAN session,lets say this is next upcoming trading session right. I'll create a profile called ASIAN and all 13 pairs are assigned to this profile name,then i'd look for setups that meets the criteria with rules.....last week i got all BO going towards Target 1 was I could not...
Scsstnt,
Thanks for the response, and yes, it does make sense. The New York Open profile I created only holds five charts, but may add others at a later date. Attached is an example of the GU chart. I am -6 GMT and will be on my computer early enough to edit and move the boxes around to their appropriate positions and place the B and S pending orders. For the orders opened, I will place the SL and TP orders.
Later,
TX

P.S. I might add that the GU chart does not offer a valid trade because the 50 SMA crosses price within the box.
Attached Image (click to enlarge)
Click to Enlarge Name: BO GBPUSD.jpg Size: 129 KB
  • #33
  • Nov 4, 2018 4:58pm Nov 4, 2018 4:58pm
Quoting Fxmd
There’s a lot of backtesting and forward testing to be done. Past performance is not indicative of future results.
I think I mentioned using other tools..PA, S/R and as here trend would help Looks good and better to be able to run on more pairs. Can set for UK open here and go to work too so that's a plus for some here.

Do you have to wait for a close above below as per EJ 4hr box strat?
  • #34
  • Nov 4, 2018 6:46pm Nov 4, 2018 6:46pm
Quoting Emerald2112
{quote} I think I mentioned using other tools..PA, S/R and as here trend would help Looks good and better to be able to run on more pairs. Can set for UK open here and go to work too so that's a plus for some here. Do you have to wait for a close above below as per EJ 4hr box strat?
No need to wait for close above or below. You can use pending buy stop/sell stop orders.
Grind until you no longer have to introduce yourself. 4:30am club
  • #35
  • Nov 4, 2018 9:11pm Nov 4, 2018 9:11pm
Evening Fxmd,
Thanks for sharing. I will be up and running in the morning. Plans are to make copies of my trades and share the results of your BO system.
Later,
TX
  • #36
  • Nov 5, 2018 2:40am Nov 5, 2018 2:40am
@Fxmd
What about if the setup fail?
1) reverse the original trade direction
2) take the loss
3) use martingale on next setup
4) use recovery grid
Etc....

What do you suggest based on your backtesting?
I'm forward testing and don't have enough historical data
  • #37
  • Nov 7, 2018 3:37pm Nov 7, 2018 3:37pm
Quoting Fxmd
{quote} No need to wait for close above or below. You can use pending buy stop/sell stop orders.
Hi please what particular pairs you trade with strategy ..
  • #38
  • Nov 19, 2018 9:16am Nov 19, 2018 9:16am
Hi there! I coded an EA that follows this strategy. The default params are not optimized and are timeframe sensible. Also the start and stop box hours are settable and they refer to broker server time, so set it accordingly to your needs. I used M15 for testing but it should work on other timeframe too, of course you have to change the MA period.

Enjoy!
Attached File(s)
File Type: ex4 LondonTouch_EA.ex4   16 KB | 341 downloads
  • #39
  • Nov 19, 2018 4:33pm Nov 19, 2018 4:33pm
Quoting Apetrini
Hi there! I coded an EA that follows this strategy. The default params are not optimized and are timeframe sensible. Also the start and stop box hours are settable and they refer to broker server time, so set it accordingly to your needs. I used M15 for testing but it should work on other timeframe too, of course you have to change the MA period. Enjoy! {file}
Hi, thank you very much. I’ll try it
Grind until you no longer have to introduce yourself. 4:30am club
  • #40
  • Nov 19, 2018 4:42pm Nov 19, 2018 4:42pm
Quoting Wahabafeez
{quote} Hi please what particular pairs you trade with strategy ..
You can trade any pair you like
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