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Trading Session BreakOut's

  • #1
  • First Post: Apr 12, 2010 3:00am Apr 12, 2010 3:00am
Hello all,

i have been reading much about breakout's and i see many strategies based on that, i see mainly London and US breakouts, but what i am asking is:

Which Breakout's you trade, and which parameter you use to get the low/min ( how many bars from the past ).
Also you enter at breakout or you wait for a retrace of the breakout for safety?

What's the best setup you have ?
  • #2
  • Apr 12, 2010 3:32am Apr 12, 2010 3:32am
Breakout strategy is very powerful and profitable only if you follow the rules.
1. Use stops.
2. No guessing.
3. If breakout happens, go along.
TP - on GJ 50p, on GU - 30p. Or trailing. Whatever you like.
I trade London breakout, just before London open put Sell-Stop or Buy-stop.
There are some commercial stuff and pretty good free indicators.
GJ on chart btw.
Attached Image (click to enlarge)
Click to Enlarge Name: 2.JPG Size: 49 KB
  • #3
  • Apr 14, 2010 2:36am Apr 14, 2010 2:36am
Thanks mate,

What TF is that ?
  • #4
  • Apr 14, 2010 3:13am Apr 14, 2010 3:13am
1 hour time frame.

If you look at the amount of candles between the vertical dotted lines you will notice that there are 24 candles.

The dotted lines represent the start of the day 00:00 gmt in this case(if I had to take a guess).
  • #5
  • Apr 14, 2010 3:28am Apr 14, 2010 3:28am
Quoting kaydara
Thanks mate,

What TF is that ?
It's 1H timeframe.
I use 4-7GMT breakout.
Dotted lines are 0:00 broker time, not GMT
  • #6
  • Apr 14, 2010 3:45am Apr 14, 2010 3:45am
Hi Dimaxx,

1- What do you use as a Stop Loss? Other side of the 4-7GMT range?

2- Do you reverse your trades when stopped? or do you only trade the first breakout when it happens?

3- Why is the fourth breakout a "NO TRADE"??


Thank you ! I have been trading session breakouts on GBPUSD and GBPJPY for a while now. Sometimes it works, sometimes not. You have to keep very disciplined to keep profitable in the long run.
  • #7
  • Edited 4:35am Apr 14, 2010 3:56am | Edited 4:35am
Good days:
In my case I use 8 hours of the Asian meeting from 0:00 until 8:00 my broker it is +1 GMT

I use two indicators that show me break them and temporality of 15 '


http://img695.imageshack.us/img695/3280/gpbusd.gif

http://img695.imageshack.us/img695/1360/gpbusd1.gif

http://learnforexlive.com/blog/londo...forex-strategy



Attentivly;

Johnfx
Attached File(s)
File Type: ex4 LondonForexRush.ex4   18 KB | 1,841 downloads
File Type: mq4 1MinuteDaily~.mq4   7 KB | 1,679 downloads
  • #8
  • Apr 14, 2010 4:15am Apr 14, 2010 4:15am
your links are not working
  • #9
  • May 27, 2010 8:38pm May 27, 2010 8:38pm
Thanks dimax

I'll test it for awhile and post results later.
The only barriers in life are only the ones that we create to our self's..
  • #10
  • May 27, 2010 10:05pm May 27, 2010 10:05pm
Quoting dimaxx
Breakout strategy is very powerful and profitable only if you follow the rules.
1. Use stops.
2. No guessing.
3. If breakout happens, go along.
TP - on GJ 50p, on GU - 30p. Or trailing. Whatever you like.
I trade London breakout, just before London open put Sell-Stop or Buy-stop.
There are some commercial stuff and pretty good free indicators.
GJ on chart btw.
Attachment
hi dimaxx, thanks for the chart. in the chart you mentioned No Trade. whats the criteria for No Trade ? if you can give more details on the setup it will really help us. like the entry criteria, tp, sl, the pairs traded and the range timeframe
  • #11
  • May 28, 2010 1:58am May 28, 2010 1:58am
I like the Asian breakout but I'm in the west so I get up a few hours a nite to pee and check for profit's Still waiting on a good working Asian breakout ea. The Generic 5.5 is the only working one I've seen that can be adapted to whatever time. 6.0 has never worked for me.
  • #12
  • May 28, 2010 3:39am May 28, 2010 3:39am
Quoting roundrock
hi dimaxx, thanks for the chart. in the chart you mentioned No Trade. whats the criteria for No Trade ? if you can give more details on the setup it will really help us. like the entry criteria, tp, sl, the pairs traded and the range timeframe
i don't trade if 4-7hour gmt box is too wide. skip this pair.
  • #13
  • Jul 10, 2011 12:49am Jul 10, 2011 12:49am
That chart above doesn't seem to give any clues to why entry one side or no trade.

Author also no reply.

At a guess! If you where watching at the time.
How fast it moves before it reaches brake area, how big candle is, if rejection. But it could be all that and still doent work.

1minute daily places 2 trades everyday both sides if a fake out then will enter oposing trade. Which could also be stopped out. Thats the facts of forex.
  • #14
  • Jul 12, 2011 4:30am Jul 12, 2011 4:30am
Hi all,
See this thread, i think very usefull and very intersteting indicator by squalou
http://www.forexfactory.com/showthread.php?t=302007
  • #15
  • Jul 9, 2016 2:07am Jul 9, 2016 2:07am
http://www.forexfactory.com/

http://forex.timezoneconverter.com/

https://www.oanda.com/forex-trading/...s/market-hours

all using the right gmt + 8 time setting, but why the opening time and closing time not same?
  • #16
  • Last Post: Dec 24, 2018 10:52pm Dec 24, 2018 10:52pm
Quoting dimaxx
Breakout strategy is very powerful and profitable only if you follow the rules. 1. Use stops. 2. No guessing. 3. If breakout happens, go along. TP - on GJ 50p, on GU - 30p. Or trailing. Whatever you like. I trade London breakout, just before London open put Sell-Stop or Buy-stop. There are some commercial stuff and pretty good free indicators. GJ on chart btw. {image}

EA ?
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