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Breakout system with JL-Lines

  • #21
  • Dec 15, 2006 10:11am Dec 15, 2006 10:11am
Hi sergiu
The rule is 50 posts... Please post the link.. thanks scott


Quoting sergiu
The Logical trader is a book by Mark Fisher. In it he talks about the ACD method which he invented. I can not give you a link since i am under 100 posts and that would bend the forum's rules but you can find it on Amazon.
HTH
Sergiu
  • #22
  • Dec 15, 2006 10:39am Dec 15, 2006 10:39am
Quote
The Logical trader is a book by Mark Fisher. In it he talks about the ACD method which he invented. I can not give you a link since i am under 100 posts and that would bend the forum's rules but you can find it on Amazon.
HTH
Sergiu

Quote
Hi sergiu
The rule is 50 posts... Please post the link.. thanks scott

I'm not familiar with those rules at all. But since there is no link i guess i must manage without it then.
It would be very nice to read it altough...

Well... my system gave no signal today on GBP/USD but at AUD/USD it gave a perfect signal :-)<!-- / message -->
  • #23
  • Dec 15, 2006 10:53am Dec 15, 2006 10:53am
Hi Jolimoney, At the top of every forum there is a link to the forum rules...
It really is not a problem as three are only 3 rules... LOL

BTW, thanks for sharing this idea. It is really quite interesting...

Scott

Edit: here is the Link to Amazon.com for this book
http://www.amazon.com/Logical-Trader...e=UTF8&s=books


Quoting jolimoney
I'm not familiar with those rules at all. But since there is no link i guess i must manage without it then.
It would be very nice to read it altough...

Well... my system gave no signal today on GBP/USD but at AUD/USD it gave a perfect signal :-)<!-- / message -->
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  • #24
  • Dec 15, 2006 11:45am Dec 15, 2006 11:45am
smjones:


Thank you for your explanation. I now understand.
About the book.... i might buy it later. Right now i reading "The currency market" by Khaty Lien.

Quote
BTW, thanks for sharing this idea. It is really quite interesting...

You are welcome. Hope it will give you profit.
  • #25
  • Dec 17, 2006 2:42pm Dec 17, 2006 2:42pm
Quoting jolimoney
Templates and indicators for the "Breakout with JL-Lines"-system.


It is a Winrar-file, but there was not possible to attach .rar-files. Just change the extension from .txt to .rar and unpack it.
I can not open it, how do you change the extention?

Regards

howard
Regards
  • #26
  • Dec 17, 2006 2:47pm Dec 17, 2006 2:47pm
Quoting howard
I can not open it, how do you change the extention?

Regards

howard
Right click on the file name, and choose rename. Change the 3 letters after the perriod. Change the .txt to .rar
PM me if you still need help.
Steve
  • #27
  • Dec 18, 2006 1:38pm Dec 18, 2006 1:38pm
Hello,

I think you have a very interesting system so I did a manual back test from Nov till now. It had a winning rate around 64% (do you have similar results or I did something wrong?). However the profit is variable and it seems to be average 2:1 over the loss with the small sample size trade I have. If you have time, you should do a more thorough backtest over the year data.

I would also suggest to have a set take profit level at 150 PIPs.


Good luck with your trading and thanks for sharing.
  • #28
  • Dec 19, 2006 3:09pm Dec 19, 2006 3:09pm
The back testing from 01 Jan 2006 to 31 Mar 2006 turns out to be a loser - it will lose around 50% of equity with risking 2% per trade. (or maybe I did something wrong) Therefore I don't think the long term outlook for this method is feasible....

(P.S. Despite this, I picked up a 150PIP on GBP last night with this great breakout)

Happy trading
  • #29
  • Dec 19, 2006 3:59pm Dec 19, 2006 3:59pm
Is there any other currency pair that the jl-lines system can work in?
  • #30
  • Dec 20, 2006 3:21am Dec 20, 2006 3:21am
Puppy:

I don't think this system work to be tested automaticlly. Why? It is just no a total mechanical system. You allways need to be aware of were you have resistance and support lines lika pivot, vegas thunnel etc etc. The breakout just gives us hint that the price wants to go in a specific direction.

Look at my post the 12-15-06 and you will se how i think.

I'm am really sorry that i could not make a total mechanical system for you...

I don't knoe how to calculate drawdowns etc. I have only checked my miniaccount and up till today it has gain over 900 pips in 6 weeks. I'm satisfied with that.

---------------

Howard

Did you manage to change the extention according to Pipsteve's instructions?

----------------

Nikim:

Of course it can. The "soul" of this system is to calculate the importance of each pairs range. So because of that you will have breakout lines totaly diffrent from each pair.

You will have a unik JL-lines in every pair.

For exemple a made a nice move at AUD/USD some days ago when there was no clear entry at GBP/USD.

---------------------
  • #31
  • Dec 20, 2006 3:32am Dec 20, 2006 3:32am
Yesterdays trade at GBP/USD


I entered long at 1.9494. and i took my profit at 1.9680. It gave me 186 pips profit.

I believe that yesterdays trade was somekind of a perfect setup for this system. As you can see at my picture there was no resistance line until around 1.9523 (vegas fib. line). If the price would have turned against me at that level i had probably made a small profit or breakeven.
It moved over the fib. line so the vegas thunnel was the nest lines to watch. I really tought that the vegas thunnel would have been to strong levels but it was not.

I moved my stop loss to 5 pips under each of the resistance lines when the price was 30 - 40 pips above that line i wanted to move my stop loss to.

I will not trade today. I must by christmax presents etc.

I will trade thursday and i will post how and why i trade it as i do. hopefully people will have i greater understanding of how to trade with jl-lines.
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  • #32
  • Dec 20, 2006 12:42pm Dec 20, 2006 12:42pm
Quoting jolimoney
Puppy:

I don't think this system work to be tested automaticlly. Why? It is just no a total mechanical system. You allways need to be aware of were you have resistance and support lines lika pivot, vegas thunnel etc etc. The breakout just gives us hint that the price wants to go in a specific direction.

Look at my post the 12-15-06 and you will se how i think.

I'm am really sorry that i could not make a total mechanical system for you...

I don't knoe how to calculate drawdowns etc. I have only checked my miniaccount and up till today it has gain over 900 pips in 6 weeks. I'm satisfied with that.

---------------

Howard

Did you manage to change the extention according to Pipsteve's instructions?


----------------

Nikim:

Of course it can. The "soul" of this system is to calculate the importance of each pairs range. So because of that you will have breakout lines totaly diffrent from each pair.

You will have a unik JL-lines in every pair.

For exemple a made a nice move at AUD/USD some days ago when there was no clear entry at GBP/USD.

---------------------
No JL

I did not manage to change the extension as I do not get the "rename" option

howard
Regards
  • #33
  • Dec 21, 2006 5:09am Dec 21, 2006 5:09am
Hi, JL!

I see a little situation in the attached picture. Help me please cos I'm realy interested in your system!

What are you doing when the lose is moving to the next day?
(I see the winning movement in the next day. But at the moment of end of the day it was lose. Where shold be the SL?)

Thank you!
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  • #34
  • Dec 21, 2006 6:17am Dec 21, 2006 6:17am
Howard:


Just re-name the attached file from: Breakout with JL-Lines.txt to: Breakout with JL-Lines.rar

When you have done that you will be able to extract that file with the Winrar program.
  • #35
  • Dec 21, 2006 6:42am Dec 21, 2006 6:42am
Quoting jolimoney
Howard:


Just re-name the attached file from: Breakout with JL-Lines.txt to: Breakout with JL-Lines.rar

When you have done that you will be able to extract that file with the Winrar program.
JL

I have downloaded the mq4 file which was posted previously and it is on the charts, however it does not show the center line which is the open of the day; is the .txt file any different from that?

Still I do not know how to rename it, when I right click on the link I do not get any rename option, should I right click somewhere else to be able to rename it?

Regards

howard
Regards
  • #36
  • Dec 21, 2006 7:01am Dec 21, 2006 7:01am
aktaurus:


I don't understand your question.

Quote
What are you doing when the lose is moving to the next day?
The above quote confuses me alot. I really don't understand your question.

About the stop loss i have written in thread: 31, 17 and of course in the initial first post. If you read these posts i think you will understand the stop loss.
If not... don't hasitat to ask again. I will be here to help you to understand.
  • #37
  • Dec 21, 2006 7:53am Dec 21, 2006 7:53am
Many news reports today havve made it difficult to use the JL-brekout system.

But i have found a oppurtunity at EUR/CHF

If the candlestick closes between Break B and Break Stop L i will enter a short trade with my stop loss at 1.6041 (just above pivot point).

If the candlestick closes below Break Stop L i don't trade. Insteed i will go play some tennis and hope for a bettre day tomorrow.
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  • #38
  • Dec 21, 2006 3:24pm Dec 21, 2006 3:24pm
Quoting howard
JL

I have downloaded the mq4 file which was posted previously and it is on the charts, however it does not show the center line which is the open of the day; is the .txt file any different from that?

Still I do not know how to rename it, when I right click on the link I do not get any rename option, should I right click somewhere else to be able to rename it?

Regards

howard
I did manage to extract the files, thanks a lot
Regards
  • #39
  • Dec 22, 2006 2:35am Dec 22, 2006 2:35am
Hi there...


I see an oppurtunity at GBP/USD.

I'm long with 1 mini lot (10 000).

Stop loss at 1.9616. just below the opening price.

If price moves to Break Stop H i will move my stop loss to Break even.
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  • #40
  • Dec 22, 2006 2:43am Dec 22, 2006 2:43am
Unfortunally a was asleep.... but have a look at AUD/USD. Nice move....
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