GBP/USD simple breakout system

Quoting gandyd66

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Hi riffster,
It seems the only filter you use is a requirment that a range of at least 35 pips is established during asian. I assume this applies to G/J as well as cable, although G/J has a broader daily range than do other pairs.

Would you mind explaining how you arrived at your target and stop levels. As you say, they form a risk/reward ratio that is not generally recommended.

Do we understand correctly that you have achieved a steady 81.3% success rate for the past two years?
Regards,

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Quoting riffster

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Please also note from the charts posted, that I also use a buffer for both pairs. GU = +/- 5 and GJ = +/- 23 before the trade is triggered. As far as the GJ, no established range is needed, the buffer solves that problem, but the GU likes to head-fake after tighter ranges before establishing the trend, so the 35 pip range is a guideline that I use...

and yes 81.3% winners (average over 104 weeks of live and demo trading - 43 weeks live and 61 demo ) I think that demo trading is A MUST !! It takes some getting used to. Specially if you're not familier with these 2 currency pairs. Double top/bottoms on the GJ, head fakes on the GU, etc...

As I mentioned in a previous reply, I had several weeks of winning trades with the GJ, but every trade took a little "consideration". Trading "systems" don't work consistantly, but trading "methods" can...

Anyhoo, my 2 cents, I'll shut up now, lol...

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Quoting riffster

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Please also note from the charts posted, that I also use a buffer for both pairs. GU = +/- 5 and GJ = +/- 23 before the trade is triggered. As far as the GJ, no established range is needed, the buffer solves that problem, but the GU likes to head-fake after tighter ranges before establishing the trend, so the 35 pip range is a guideline that I use...

and yes 81.3% winners (average over 104 weeks of live and demo trading - 43 weeks live and 61 demo ) I think that demo trading is A MUST !! It takes some getting used to. Specially if you're not familier with these 2 currency pairs. Double top/bottoms on the GJ, head fakes on the GU, etc...

As I mentioned in a previous reply, I had several weeks of winning trades with the GJ, but every trade took a little "consideration". Trading "systems" don't work consistantly, but trading "methods" can...

Anyhoo, my 2 cents, I'll shut up now, lol...

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Quoting MegaPips

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Hi Pino2, Riffster, I started to trade your method live (GBP/USD), from last monday, so far good. Thanks for your thread. .

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Quoting riffster

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AHHH! Oh man, I would prefer that folks try this via a demo account, but glad to hear that things are good...

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Quoting gandyd66

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Hi riffster,
I take it that you enter the straddle of the asian channel for G/U and G/Y (buy and sell stops) only if the channel is well defined, otherwise it's a no-trade. Is that correct?

Also, I assume you arrived at your stops and take profits by trial and error, and your success rate of 80% is simply excellent. When you lower the stops or increase the take profits to provide a better risk/reward ratio, say an even 1:1, what sort of success rate can you expect?

Thanks for your input. Appreciate you answering these questions.
Regards,

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Quoting armin_syah

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Regarding to this strategy,
yes you are right.

For today, Wednesday, 23.5.2007
the buy and sell signal according to yesterday High & Low,
yes the strategy is 95% correct.

Today,
BUY SIGNAL = 1.9768 (MARKET PRICE)
SELL SIGNAL = 1.9700 (MARKET PRICE)


_________________________________________________________
To get 10 pips using this strategy,
we need to have a "4 spreads & below" of the currency GBP/USD,
i mention again,
for GBP/USD , your platform must provide at least "4 spreads & below".
THATS ALL,
and you must profit,
Take Profit = 10 pips (minimum)
Max. Profit = > 10 pips (your choice, but usually loses)
Stop Loss = - 50 pips (is a must,without it,you still lose)

Quantity Money Float While Trading On this System = 65% (because 95% always profit using this strategy)

Please see at 1st page of this page for rivision.
_________________________________________________________


So, for today:
BUY SIGNAL = 1.9768 (MARKET PRICE)
SO,
1.9768 (MARKET PRICE) MINUS 0.0014 "MUST DO THIS TO GET 10 PIPS"
= 1.9754

BUY AT = 1.9754 (MARKET PRICE)
1.9756 (OFFER PRICE) price you buy at spread
1.9766 (BID PRICE) price you take profit at spread
1.9768 (MARKET PRICE) price you take profit

*******************************************************
well,
SELL SIGNAL = 1.9700 (MARKET PRICE)
SO,
1.9700 (MARKET PRICE) PLUS 0.0014 "MUST DO THIS TO GET 10 PIPS"
= 1.9714

SELL AT = 1.9714 (MARKET PRICE)
1.9712 (BID PRICE) price you buy at SPREAD
1.9702 (OFFER PRICE) price you take profit at spread
1.9700 (MARKET PRICE) price you take profit

_______________________________________________________________

Ok,
i am very happy with this strategy,
believe me,
although 1 day 10 pips,
you must be a millionare if you just dicipline,
thanks to the this guy who post this forum,
thank you very much.

THE ABOVE STRATEGY "is only sutable" for GBP/USD with 4 spreads and below, match for all kind of forex broker.

Yes, i had done back tested for year 2007,
i done this for 3 day study,
wow.......
yes, for average 1 month trading,
theres is only 1 loss while 19 profit,
or,
there is 2 loss while 18 profit.
i assume 1 month had a 2o day trading........

Thanks every one,
i am from Malaysia.

-VISIT MALAYSIA 2007-

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Quoting gandyd66

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Hi again riffster,
Sorry to keep plying you with these questions, but I'm a bit puzzled as to the full requirements for a G/Y trade.

I understand you enter during asian and the +-23 pips outside range for your buy/sell stops, but you reckon usually only 1 - 3 trades per week with this pair. Obviously, you're not just tuning in at, say, 10pm EST, placing the stop entries from the range limits of that time, and then holding overnight. That would mean a trade every asian session.

If the trade has not triggered by the cut-off time of 12:30 EST, does that mean a no-trade that day? Do you hold overnight? Or, what else is it that limits the set-ups to only 1 - 3 a week?

Appreciate your patience.
Regards,

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Quoting Depfy

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Model: Lot 5, Spread 3, TP 5, SL 30
http://yorsh2007.hotmail.ru/2.jpg

Real ticks: Lot 5, Spread 3, TP 5, SL 30
http://yorsh2007.hotmail.ru/3.jpg

Bach J.S.
http://yorsh2007.hotmail.ru/1.jpg

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Quoting gnllr

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I made an EA and had much the same results as you, though, I'm far from fine tuning and completing the EA.

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Quoting ankur_75

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One suggestion to increase profits would be to use a feature where the trade breaks even after 5pips profit and then the SL trails by 1-2 pips till it gets stopped out. I am aware there are EAs around that do this sort of thing.

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