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Breakout + Spread!! Sure!!!

  • #661
  • Dec 27, 2007 9:38pm Dec 27, 2007 9:38pm
Quoting Lenoxer
Dear WHTenn,

How have you personalized the system to make it successful for yourself?

Thanks very much,

Lenoxer
Hey Cgldsmth and Lenoxer, this is what my chart looks like. I added the XPMA indicator and the Parabolic indicator. I am attaching pics of their settings and the indicator XPMA for you. The Parabolic is part of your mt4 standard indicator package.

I have not varied by Eagle's rules, I just tweaked the system by using the above indicators


Reference to yesterdays box breakout that started to go short at 10:00 for a few pips but the XPMA and Parabolic indicators did not agree. I did not take the short. At 1400, the breakout occured and this time the XPMA and Parabolic agreed with the trend and I jumped it.

Can you think of another way to make this system better?

All I want is 20 pips. I trade with big lots.
Attached Image (click to enlarge)
Click to Enlarge Name: My Chart.png Size: 33 KB
Attached Images
Attached File(s)
File Type: ex4 xpMA.ex4   10 KB | 707 downloads
File Type: mq4 xpMA.mq4   10 KB | 769 downloads
  • #662
  • Dec 27, 2007 11:42pm Dec 27, 2007 11:42pm
looks great WHTenn. A very nice filter you have there. I'm going to forward test live with nanolots for 2 months, but using TP and SL around psychological round numbers to see if it can yield fewer stops.

An excellent New Year to you.
TRADE FOR SWAP
  • #663
  • Dec 28, 2007 1:03am Dec 28, 2007 1:03am
Hi WHT,

Please explain what you mean by "XPMA and Parabolic agree"? How do they agree?

Thanks
Herty
  • #664
  • Dec 28, 2007 1:44am Dec 28, 2007 1:44am
Quoting herty
Hi WHT,

Please explain what you mean by "XPMA and Parabolic agree"? How do they agree?

Thanks
Herty

XPMA Description: XPMA is a trending indicator that will show you the current trend Blue=down, Red=up and Yellow= sideways

Parabolic SAR Description:The Parabolic SAR (stop-and-reversal) is a time/price trend following system used to set trailing price stops. The Parabolic SAR provides excellent exit points. Forex traders using this technical indicator should close long positions when the price falls below the SAR and close short positions when the price rises above the SAR. If you are long (i.e., the price is above the SAR), the SAR will move up every day, regardless of the direction the price is moving. The amount the SAR moves up depends on the amount that currency rates move.

I hope that this helps.

Wishing you a Happy and Prosperous New Year

Attached Image (click to enlarge)
Click to Enlarge Name: TREND.png Size: 35 KB
  • #665
  • Dec 30, 2007 5:56am Dec 30, 2007 5:56am
Hello WHT
I think you mean Blue= up and Red=down?

  • #666
  • Dec 30, 2007 8:30am Dec 30, 2007 8:30am
I just read through the whole thread. It's very simple but effective. Many thanks to eagle, WHTenn and all for your contribution in this system.

Still one simple question before I have a test. Does the GMT 5:00-8:00 include the first hour of London or not? If yes, it counts up to and include the first hour of London open in the High-Low. If not, it only counts up to the the first hour of Frankfurt. That would be less confusing to me. Many thanks.
  • #667
  • Dec 31, 2007 12:40am Dec 31, 2007 12:40am
Great catch Pipo, thanks a bunch

Pipal, to get a better understanding and an answer to your question, check out the answers given by Eagle. Actually, pm him and he will send you the correct settings for the indicator

Good Luck
  • #668
  • Dec 31, 2007 7:23am Dec 31, 2007 7:23am
I just started looking at the Eagle breakout system recently but using a Slope direction line instead of the XPMA. My question is, on the chart shown in post # 664 your indicators changed direction during the breakout period, would you have made the trade to the short side at the end of the box?
  • #669
  • Jan 1, 2008 1:10am Jan 1, 2008 1:10am
Quoting Abnormalone
I just started looking at the Eagle breakout system recently but using a Slope direction line instead of the XPMA. My question is, on the chart shown in post # 664 your indicators changed direction during the breakout period, would you have made the trade to the short side at the end of the box?
I look at the overall trend using 4hr and daily charts. I then look at the xpMA indicator for direction and then Parabolic SAR. Yesterdays chart would be an excellent example of what to do when in doubt rather than the one you were looking at.

Using the below chart for a reference. EUR/USD Hourly
A.....Did not jump in, breakout to below but xpMA showed an upward movement. Parabolic SAR was above.
B.....Took short, xpMA changed for a downward movement, Parabolic SAR agreed.
C.....xpMA changed color to yellow, Parabolic SAR still indicated a downward movement. I remained short.
D.....xpMA changed line color back to red, Parabolic SAR still indicated a downward movement. I remained short...

xpMA went downward in color but changed to yellow in color then changed back to red for a continuation in movement. Parabolic SAR indicated a downward movement all along.

Trading this could have resulted in over 120 pips if you rode this out. All I want is my 25 pips... no more, no less. Mission accomplished!!
Attached Image (click to enlarge)
Click to Enlarge Name: now.png Size: 28 KB
  • #670
  • Jan 1, 2008 2:09am Jan 1, 2008 2:09am
Attached Image
  • #671
  • Jan 1, 2008 9:09am Jan 1, 2008 9:09am
I added the XPMA and SAR indicators to my charts with the same setting you posted earlier but I get a different picture. I assume this is caused because I’m using a different signal feed than you and may be the reason other systems people claim work, doesn’t seem to work for me.
Looking back at the other charts you have posted it seems like I would still get basically the same entry points as you do using this system.

On the prior day in your example the price broke out early and you made your 25 pips and then the price reentered the box and broke out again. Would you have traded the second breakout too?
Attached Image
  • #672
  • Jan 1, 2008 10:02am Jan 1, 2008 10:02am
the way I trade this it the 25 pip mark, close 80%, let rest ride, moving original stop up, and trail. My 2 cents.
  • #673
  • Jan 1, 2008 8:26pm Jan 1, 2008 8:26pm
Quoting Abnormalone
I added the XPMA and SAR indicators to my charts with the same setting you posted earlier but I get a different picture. I assume this is caused because I’m using a different signal feed than you and may be the reason other systems people claim work, doesn’t seem to work for me.
Looking back at the other charts you have posted it seems like I would still get basically the same entry points as you do using this system.

On the prior day in your example the price broke out early and you made your 25 pips and then the price reentered the box and broke out again. Would you have traded the second breakout too?

I just enter and trade once a day using this pair. I trade three different platforms and three different systems. I really don't have time to watch it other than the breakout.

You may see a difference if you don't use FXDD.

Good Luck
  • #674
  • Jan 1, 2008 8:27pm Jan 1, 2008 8:27pm
Quoting bwk9087
the way I trade this it the 25 pip mark, close 80%, let rest ride, moving original stop up, and trail. My 2 cents.
This has appeal... interesting way to trade. Very good idea actually.

Thanks for sharing
  • #675
  • Jan 1, 2008 8:51pm Jan 1, 2008 8:51pm
Quoting WHTenn
Hey Cgldsmth and Lenoxer, this is what my chart looks like. I added the XPMA indicator and the Parabolic indicator. I am attaching pics of their settings and the indicator XPMA for you. The Parabolic is part of your mt4 standard indicator package.

I have not varied by Eagle's rules, I just tweaked the system by using the above indicators


Reference to yesterdays box breakout that started to go short at 10:00 for a few pips but the XPMA and Parabolic indicators did not agree. I did not take the short. At 1400, the breakout occured and this time the XPMA and Parabolic agreed with the trend and I jumped it.

Can you think of another way to make this system better?

All I want is 20 pips. I trade with big lots.
WHTenn,

This filter is a great idea. I think there will be almost zero failed trades.

Have a question on eagle indicator

Are they different for each currency pairs. Could you share the one you are using.

Also would you know what time should I be setting for the box, given I use FXDD metatrader.

Thanks much

TradeStar
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #676
  • Jan 1, 2008 9:18pm Jan 1, 2008 9:18pm
Quoting TradeStar
WHTenn,

This filter is a great idea. I think there will be almost zero failed trades.

Have a question on eagle indicator

Are they different for each currency pairs. Could you share the one you are using.

Also would you know what time should I be setting for the box, given I use FXDD metatrader.

Thanks much

TradeStar
Hi..I am using the setting on post 661, on this page. I am testing it on another pair at this time. I need to read this thread all over again to see what other currency pairs others have tested this system on.
  • #677
  • Jan 1, 2008 10:49pm Jan 1, 2008 10:49pm
Quoting WHTenn
Hi..I am using the setting on post 661, on this page. I am testing it on another pair at this time. I need to read this thread all over again to see what other currency pairs others have tested this system on.
I use FXDD time 06:00 09:00 20:00 with Slope direction line instead of XPMA (seems to give close to same results as XPMA) and if it appears that the breakout bar will reverse the SAR then I still make the trade even if its the wrong direction at the time.
I just finished testing on EUR/JPY selling 2 units @ breakout SL set @ 30pips TP on 1 unit @ 30 pips, if hit move SL on 2nd unit to break even and TP 30 pips higher. Also considering using Trailing stop on 2nd unit instead of TP.
Results look good, Spreadsheet attached for EUR/USD and EUR/JPY.
Attached File(s)
File Type: xls Eagle breakout.xls   23 KB | 907 downloads
  • #678
  • Jan 1, 2008 11:38pm Jan 1, 2008 11:38pm
Quoting Abnormalone
I use FXDD time 06:00 09:00 20:00 with Slope direction line instead of XPMA (seems to give close to same results as XPMA) and if it appears that the breakout bar will reverse the SAR then I still make the trade even if its the wrong direction at the time.
I just finished testing on EUR/JPY selling 2 units @ breakout SL set @ 30pips TP on 1 unit @ 30 pips, if hit move SL on 2nd unit to break even and TP 30 pips higher. Also considering using Trailing stop on 2nd unit instead of TP.
Results look good, Spreadsheet attached for EUR/USD and EUR/JPY.

Hello Abnormalone,

tks for the spreadsheet reference.

Can you enlighten what is the setting you used for the slope direction line?
is the setting the same for both E/U and E/J?
I'm just moving clouds today - tomorrow I'll try mountains.
  • #679
  • Jan 1, 2008 11:57pm Jan 1, 2008 11:57pm
Quoting awsl
Hello Abnormalone,

tks for the spreadsheet reference.

Can you enlighten what is the setting you used for the slope direction line?
is the setting the same for both E/U and E/J?
Same for all pairs that I have been looking at so far.
Slope Direction line
Period=60
Method=3
price=0
  • #680
  • Edited 1:28am Jan 2, 2008 12:55am | Edited 1:28am
Quoting Abnormalone
I use FXDD time 06:00 09:00 20:00 with Slope direction line instead of XPMA (seems to give close to same results as XPMA) and if it appears that the breakout bar will reverse the SAR then I still make the trade even if its the wrong direction at the time.
I just finished testing on EUR/JPY selling 2 units @ breakout SL set @ 30pips TP on 1 unit @ 30 pips, if hit move SL on 2nd unit to break even and TP 30 pips higher. Also considering using Trailing stop on 2nd unit instead of TP.
Results look good, Spreadsheet attached for EUR/USD and EUR/JPY.
This is one very impressive spreadsheet. Can you post a chart for us? If you need software for screenshots, just shoot me a pm. It looks like your averaging 31 pips per trade. Are you using the same 6-9 setting on both pairs?

This is great!

Here is a Slope Direction Line indicator if anyone want to test it. I am adding it to my charts too!
Change settings to reflect AbnormalOne's
Period=60
Method=3
price=0

Update: I did a fast check on AbnormalOne's Slope Direction Line Indicator and I actually like it better than the XPMA on the EUR/USD pair. This is a great example of teamwork!

http://www.forexfactory.com/images/buttons/quote.gif

Attached File(s)
File Type: ex4 Slope Direction Line.ex4   4 KB | 773 downloads
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