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A Simple London Breakout

  • #1,041
  • Sep 11, 2018 7:07am Sep 11, 2018 7:07am
Quoting vsine
{quote} Automated. Can't upload the set file. The error is "file type is not supported" My VPS hung again. Not sure if I got stop out due to that. VPS is Virmach. Contract expiring in Feb. Sure I am going to discontinue with them.
Open it with notpad...copy in another notepad...and upload textfile..We will convert it into setfile
James
  • #1,042
  • Feb 4, 2019 6:36pm Feb 4, 2019 6:36pm
sad how these threads die
  • #1,043
  • Aug 20, 2020 5:46am Aug 20, 2020 5:46am
Hi,
Where can i Download "London BreakoutV7.mq4"indicator
I really having problem .please advice.
Thanks
  • #1,044
  • Sep 2, 2020 12:41am Sep 2, 2020 12:41am
Hi Mer ,
I have download the London breakout File,but i cannot find it in my Mt4
What should i do to rectify
Thanks
  • #1,045
  • Mar 22, 2021 3:54pm Mar 22, 2021 3:54pm
does anyone still use this strategy?
  • #1,046
  • Feb 11, 2022 4:42am Feb 11, 2022 4:42am
hello fellow mate , does anyone can help me with the indicator " LONDON BREACKOUT V.2 " ..i want to chane my life ,am from south africa
  • #1,047
  • May 25, 2022 5:26pm May 25, 2022 5:26pm
Quoting mer071898
Here is a simple London breakout strategy based on a variation of my BoxFibo indicator from my London Progressive Strategy thread. I simplified the indicator to place the initial entry points just between what would normally be the 27 and 38.2 fib extensions on both sides of the box. I didn't want to extend it past the 38.2 extension, although it can be feasibly accomplished, because the farther away we move our target, the tougher it is to reach the intended targets as it move in proportion to the box size. I wanted to make sure we had a higher...

Please i dont seem to understand how to get the EA to take trades automatically. seems am missing a step. can some please assist me
  • #1,048
  • Oct 18, 2023 11:07am Oct 18, 2023 11:07am
is there indicator for Mt5 available ?
PaRaM
  • #1,049
  • Jan 1, 2024 4:45pm Jan 1, 2024 4:45pm
I’ve tested countless of variations of the london breakout approach while strictly focusing on GBP/USD for my tests and so far I haven’t found ONE plan that actually works.

I tried all kind of different parameters and combinations of them. Different time periods to define the breakout range, fixed risk/profit values, trailing stops/profits multiple entries, reversing the signals, time based stops, adding market conditional filters (to filter out for trending vs mean reverting days), directional filters, min/max size of the range, and some more.

I couldn’t find anything even remotely working to show consistent profitable for 3 months, 6 months or even 12 months intervals of sample periods.

It’s all cr@p.
  • #1,050
  • Jan 1, 2024 7:24pm Jan 1, 2024 7:24pm
Quoting lddd
I’ve tested countless of variations of the london breakout approach while strictly focusing on GBP/USD for my tests and so far I haven’t found ONE plan that actually works. I tried all kind of different parameters and combinations of them. Different time periods to define the breakout range, fixed risk/profit values, trailing stops/profits multiple entries, reversing the signals, time based stops, adding market conditional filters (to filter out for trending vs mean reverting days), directional filters, min/max size of the range, and some more....

@lddd

If you have been testing GBP/USD you may have missed this:

https://www.forexfactory.com/thread/...08#post3326908

https://www.forexfactory.com/thread/...87#post3308787



GBPUSD 12 months 2023,

most trades were during the European / London sessions,
with some trades during the Sydney/Tokyo mornings.

Attached Image (click to enlarge)
Click to Enlarge Name: myfxbook sg_06 GBPUSD Win Rate 90% 2023.png Size: 10 KB


Hourly statistics


Attached Image (click to enlarge)
Click to Enlarge Name: myfxbook sg_06 GBPUSD Hourly stats 2-1-2024 8-07-51 am.png Size: 17 KB



Daily statistics

Attached Image (click to enlarge)
Click to Enlarge Name: myfxbook sg_06 GB{USD Daily stats 2-1-2024 8-08-31 am.png Size: 14 KB



> you have a lot of work to do .... work on yourself as the trader.


...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #1,051
  • Jan 2, 2024 5:46am Jan 2, 2024 5:46am
Quoting emmanuel7788
{quote} @lddd If you have been testing GBP/USD you may have missed this: https://www.forexfactory.com/thread/...08#post3326908 https://www.forexfactory.com/thread/...87#post3308787 GBPUSD 12 months 2023, most trades were during the European / London sessions, with some trades during the Sydney/Tokyo mornings. {image} Hourly statistics {image} Daily statistics {image} > you have a lot of work to do .... work on yourself as the trader. ...
Yes, that was over 10 years ago. I think the markets have changed and it doesn't work that way anymore. At least that reflects my own experience with what I've tested recently. None of this even remotely works.

With all due respect, the statistics don't help me personally. If you have a trading strategy that is relatively simple and requires no discretion, let me know and I will test it out. Everything I find is total useless crap and I'm getting really tired of it.
  • #1,052
  • Jan 2, 2024 5:57am Jan 2, 2024 5:57am
Quoting lddd
{quote} Yes, that was over 10 years ago. I think the markets have changed and it doesn't work that way anymore. At least that reflects my own experience with what I've tested recently. None of this even remotely works. With all due respect, the statistics don't help me personally. If you have a trading strategy that is relatively simple and requires no discretion, let me know and I will test it out. Everything I find is total useless crap and I'm getting really tired of it.
What has changed ? the volatility is different from 10 years ago.

You don't see Asian channel > 40 pips so you have to adapt the strategy to trading in lower volatility market.

My GU 2023 statistics shows the best trading hours are the European-London sessions.

Today is a good example when the intraday ADR high got hit and price reverse @RN127500 ...


Attached Image (click to enlarge)
Click to Enlarge Name: GU Jan 02 m15 ADR Asian 2-1-2024 7-50-34 pm.png Size: 24 KB



...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #1,053
  • Jan 2, 2024 6:52am Jan 2, 2024 6:52am
Quoting emmanuel7788
{quote} What has changed ? the volatility is different from 10 years ago. You don't see Asian channel > 40 pips so you have to adapt the strategy to trading in lower volatility market. My GU 2023 statistics shows the best trading hours are the European-London sessions. Today is a good example when the intraday ADR high got hit and price reverse @RN127500 ... {image} ...
It's not about the easy days. Most days are NOT like that. Can you post the last 60 days where you applied exactly the same rules? So not having cherry picked a winning example. Forget about meaningless pips too. Risk 1% per trade / 1 trade per day. What are your results?
  • #1,054
  • Jan 2, 2024 8:20am Jan 2, 2024 8:20am
Quoting emmanuel7788
https://www.forexfactory.com/thread/...87#post3308787
These rules are not really clear rules either. Most of it is very vague and leaves so much room for interpretation. Make it clear so that you can objectively compare the results with each other

1. London Market Trading - GBP/USD - 15 Minute Chart - clear.
2. Print out News Calendar - No trades 30 minutes before or after news. If your in a trade - either exit or really tighten stop Loss. - clear
3. Use Fractals on your chart to visually see and measure swings. - clear (don't need)
4. Put Tokyo Channel on your Charts - - - 40+ pip spread hi/lo minimum before trading. *** Very Important. - clear
5. Swings should average 20 to 40 pips or more. - unclear
6. Enter on second candle using top/bottom of first candle for entry level. Use Buy stop or Sell Stop orders. - what candle? what is the exact entry trigger to buy/sell?
7. Exit on big numbers of 00 or 10 or 20 or 35 or 50 or 65 or 80 or 90. These numbers are your target levels. - 8 different exit points - very unclear.
8. Lost Trade - Re-enter on the next swing doubling your lot size. If second trade loses go back to normal lot size. Swings average 20 to 40 pips on 15 minute time frame. On other time frames the swing size will be different. - what "swing"? - very unclear again, what is the entry criteria for the 2. trade a day.

Attached Image (click to enlarge)
Click to Enlarge Name: GU-Jan-02-m15-ADR-Asian-2-1-2024-7-50-34-pm.jpg Size: 414 KB
  • #1,055
  • Edited 8:55am Jan 2, 2024 8:43am | Edited 8:55am
Quoting lddd
{quote} These rules are not really clear rules either. Most of it is very vague and leaves so much room for interpretation. Make it clear so that you can objectively compare the results with each other 1. London Market Trading - GBP/USD - 15 Minute Chart - clear. 2. Print out News Calendar - No trades 30 minutes before or after news. If your in a trade - either exit or really tighten stop Loss. - clear 3. Use Fractals on your chart to visually see and measure swings. - clear (don't need) 4. Put Tokyo Channel on your Charts - - - 40+ pip spread hi/lo...
London trading is not an opportunity every day, about 1-2 times a week, taking EUEUSD as an example, fluctuating 150-200 points a week. The rest of the time it is a volatile market, and if you still trade London rules, you will lose money. You can't just rely on London time, you have to look at the cycle bigger, H4,D1. If you find a new opportunity in the market, then in the London time of the day, accurately enter, then you can make a profit on the day. I have studied the London period for more than two years, and this can only be used as a means of admission, and there must be a trading system to cooperate. Under the guidance of a medium - and long-term direction, the London time period is used to enter, increase and reduce positions
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 37 KB
My English is not good, sometimes I say the wrong thing, please forgive me!
  • #1,056
  • Last Post: Jan 2, 2024 9:18am Jan 2, 2024 9:18am
Quoting lddd
{quote} These rules are not really clear rules either. Most of it is very vague and leaves so much room for interpretation. Make it clear so that you can objectively compare the results with each other 1. London Market Trading - GBP/USD - 15 Minute Chart - clear. 2. Print out News Calendar - No trades 30 minutes before or after news. If your in a trade - either exit or really tighten stop Loss. - clear 3. Use Fractals on your chart to visually see and measure swings. - clear (don't need) 4. Put Tokyo Channel on your Charts - - - 40+ pip spread hi/lo...
I have always used EURUSD as the direct index, today did not rise, but the GBPUSD rose, I think there is no strength, because the GBPUSD will follow the footsteps of EURUSD. Later,EURUSD fell, I enter and an hour later, the GBPUSD broke through and began to fall, and I immediately entered GBPUSD the short order. This is how I made my order in London today
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 61 KB
My English is not good, sometimes I say the wrong thing, please forgive me!
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