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Breakout + Spread!! Sure!!!

  • #861
  • Jan 23, 2008 11:45pm Jan 23, 2008 11:45pm
Naijafx....................you're pushing it!

I have already answered question 1 in post #855.

If you want to enter from the 5 minute chart, use the suggestion in the previous post and follow the breakout of the Red line as the signal for a potential trade.

If I spend the time to write a detailed pdf for this method, it will be for sale, perhaps on e-bay...................

Quoting Naijafx
Thanks for your swift response to my question. I kinda love your tweaking as they mitigate false break-out. bravo!

I have more questions here:

1. What are your settings for the eur pairs?

2. How do you narrow trading down to 5mins using this method.



I will suggest that you do a comprehensive explanation of your 'Modified version' in PDF file(if time permits u) stating the settings and how u trade this more reliable tweaked system for more pips

Thanks
  • #862
  • Jan 24, 2008 1:39am Jan 24, 2008 1:39am
Quoting BeachBum
Good question smilee........

I can't answer positively for this example on the 1 hour chart because I don't watch that closely. I look at the 1 hour chart at about the half-hour mark to get a 'heads-up'. If the Red line has moved significantly outside the box, I'll consider a trade; but my preference is to wait for the 1 hour candle/bar to close with the Red line outside the box. There will be occasions when a reversal occurs, usually triggered by a news item or one of the important P/S/R levels. Otherwise, this is a powerful tool for me when trading a B/O.

The 1 MA is Median price, no shift. The 5 MA is Open with a +1 shift. Both are linear weighted.
Thanks BB
  • #863
  • Jan 24, 2008 1:50am Jan 24, 2008 1:50am
Great job, BeachBum
Try the following settings 5:00 - 7:50 on 5 mn chart for eur pairs
Best regards.
  • #864
  • Jan 24, 2008 2:05am Jan 24, 2008 2:05am
anyone can help me with the template ?

it just dont shows the box and lines...... wven when its there when i checked on the object list.
Attached Image (click to enlarge)
Click to Enlarge Name: 123.PNG Size: 43 KB
  • #865
  • Jan 24, 2008 2:46am Jan 24, 2008 2:46am
Syafi, you need to D/L eagle breakout indicator. This will show you the box you see in the examples of BB.
Click on the paper clip which is in the upper right side of this page. Find the mq4 file of this indicator.

Good luck.
  • #866
  • Jan 24, 2008 2:54am Jan 24, 2008 2:54am
Quoting smilee89
Syafi, you need to D/L eagle breakout indicator. This will show you the box you see in the examples of BB.
Click on the paper clip which is in the upper right side of this page. Find the mq4 file of this indicator.

Good luck.
Hehe.............. That was clumsy of me........ ... Thank you.

But i still cant see the ADX line etc .. only the box now.
  • #867
  • Jan 24, 2008 2:57am Jan 24, 2008 2:57am
no adx needed.
  • #868
  • Jan 24, 2008 3:13am Jan 24, 2008 3:13am
Ahh I see, I got confused because the template by BeachBum has that window and line in the object list.
  • #869
  • Jan 24, 2008 6:34am Jan 24, 2008 6:34am
Quoting madscalp
Great job, BeachBum
Try the following settings 5:00 - 7:50 on 5 mn chart for eur pairs
Best regards.
Thank you....................
  • #870
  • Jan 25, 2008 4:21am Jan 25, 2008 4:21am
Some 5 mn charts euryen with 5:00 - 7:50 :
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EUR-YEN 01-23.gif Size: 22 KB
Click to Enlarge Name: EUR-YEN 01-24.gif Size: 25 KB
Click to Enlarge Name: EUR-YEN 01-25.gif Size: 28 KB
  • #871
  • Jan 25, 2008 10:31am Jan 25, 2008 10:31am
Hi BeachBum,

Do you still set box time 06:00 - 09:00 GMT for the europe session ? since when I load your template seem not see the box.

Thanks n Regards,
MS

Quoting BeachBum
Here's a good question I received by PM:

"Great work you did for improving eagle break out strategy. I saw your template and i have read ur strategy explained text.

I have a question here. do you use the same template in trading gbpusd and gbpjpy"

I use this template to plan for potential trades on ALL pairs that include one European currency (EUR, GBP, CHF).......15 pairs on Alpari UK.

Also, I use this template for Asian currency based pairs by adjusting the hours for the box to 0:00 to 2:00 on the Alpari UK platform.........16 pairs.

I don't use it for the NY market.

HTH!
  • #872
  • Edited 1:05pm Jan 25, 2008 10:48am | Edited 1:05pm
Quoting pipfirst
Hi BeachBum,

Do you still set box time 06:00 - 09:00 GMT for the europe session ? since when I load your template seem not see the box.

Thanks n Regards,
MS
You also need to download the breakout indicator.

Attached are my charts for EUR/USD and EUR/JPY for this system.

Good Luck
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Today.png Size: 40 KB
Click to Enlarge Name: today 2.png Size: 33 KB
Attached File(s)
File Type: ex4 BreakOut-EAGLE_indicator.ex4   11 KB | 1,896 downloads
File Type: mq4 BreakOut-EAGLE_indicator.mq4   10 KB | 2,233 downloads
  • #873
  • Jan 25, 2008 1:05pm Jan 25, 2008 1:05pm
GBP/JPY just finished the trade... slow one
Attached Image (click to enlarge)
Click to Enlarge Name: gj.png Size: 34 KB
  • #874
  • Jan 25, 2008 1:13pm Jan 25, 2008 1:13pm
Nice work....... Thanks for sharing your system and even going further to dislay trade result.

I saw two Moving averages on your chart. How are they use to filter false breakout. Thanks
  • #875
  • Jan 25, 2008 5:46pm Jan 25, 2008 5:46pm
It seems that WHTenn has been banned for infractions (temporarily I hope); some of his posts got a little unsavory on other threads.

So I will respond for him in a style that should make him proud if he is viewing this:

Naijafx................do you even bother to read previous posts? Or do you prefer to just jump in and ask questions without doing any research? You have PM'd me and asked questions that were already answered in this thread; now you post a question about the two MA's I introduced and explained just a few pages back.

Here's my suggestion: before you ask any more questions, try to find the answers yourself; preferably by reading the thread that interests you. If, and only if, you cannot find the answer, post the question. I will be glad to help out when the answer is not readily available; sometimes staring you right in the face. If this arrangement is not agreeable to you, then as you suggested in one of your PMs to me; you can pay me to do your research for you, write an explanatory PDF file for you or even trade your money (if you have any) in a managed account. I am guessing that one of these alternatives would be to your liking. (PayPal account info available upon request!)

Quoting Naijafx
Nice work....... Thanks for sharing your system and even going further to dislay trade result.

I saw two Moving averages on your chart. How are they use to filter false breakout. Thanks
  • #876
  • Jan 26, 2008 2:42pm Jan 26, 2008 2:42pm
Quote
It seems that WHTenn has been banned for infractions (temporarily I hope); some of his posts got a little unsavory on other threads.

So I will respond for him in a style that should make him proud if he is viewing this:

Naijafx................do you even bother to read previous posts? Or do you prefer to just jump in and ask questions without doing any research? You have PM'd me and asked questions that were already answered in this thread; now you post a question about the two MA's I introduced and explained just a few pages back.

Here's my suggestion: before you ask any more questions, try to find the answers yourself; preferably by reading the thread that interests you. If, and only if, you cannot find the answer, post the question. I will be glad to help out when the answer is not readily available; sometimes staring you right in the face. If this arrangement is not agreeable to you, then as you suggested in one of your PMs to me; you can pay me to do your research for you, write an explanatory PDF file for you or even trade your money (if you have any) in a managed account. I am guessing that one of these alternatives would be to your liking. (PayPal account info available upon request!)

Well, thanks for all u said about me, doesn't bother me coz am learning seriously here, I saw some similarity between ur modified system and george's. I believe that integrating them to make something tradable for me with confidence would be a nice one.

Anyway, I don't feel bad in anyway, but kinda learning and reading all I could to become successful like you.

Meanwhile, I used ur method to get some 50pips on thursday but i think 25pips is easier and safer for newbie like me.

Thanks for all you've written about me, they are impetus, to fire me to the frontline.

Once again, am very grateful for your swift response to my mails and please expect more.

God Bless you
  • #877
  • Jan 27, 2008 10:41am Jan 27, 2008 10:41am
OOooooh...............................................................................
  • #878
  • Jan 31, 2008 4:23pm Jan 31, 2008 4:23pm
How about using some fundamental data to help in our breakout decisions ?
Like, maybe looking at FTSE, Nikkei to assist us in predicting the currency direction? Will that work ?
  • #879
  • Feb 4, 2008 10:30am Feb 4, 2008 10:30am
hi there.. im a newbie in this fields and eagle trading system attract me to try it.. but i have problems to implement this system.. im from malaysia and the time difference between malaysia and italy is 7 hours.. for example rite now in malaysia is 12.23 am and in italy is 5.23 pm.. anyone here can help me on how to use this system.. im using meta4 and i alredy dowload and install the indi in my platform.. the big problem that im facing rite is how to use this indi.. sorry for sound to dumb.. may anyone tell me how to use this indi.. ive been scroll back this thread but still cant figure out how to use this indi.. im currently using a demo acc from interbank and tarde on gbp/usd.. the spread is 4 pips.. how to enter the trade.. and how to know wether the trend is bullish or bearish.. does i need to use another indi to know the current trend.. i really need help.. i also doesnt have strong knowledge in forex.. really beg for ur help guys..
  • #880
  • Feb 5, 2008 3:25pm Feb 5, 2008 3:25pm
Hi

Ive read this from start to finish in one day- fantastic thread!

Ive traded the Asian High/Lows since September with a very modest profit each month on a 15-15 ratio but with a longer timeframe for the breakout box. This year it has been patchy with a number of false breakouts

Whilst I have been convinced that a breakout based on the London opening not only suits my style of trading but has proved successful for a number of months I have struggled with developing the idea any further and felt that it could be much improved- the question was how?

What you have achieved here is fantastic- by collectively sharing ideas you have taken an original sound trading system and put forward over the currency of the thread lots of different combinations that work together-many of which I hadnt even heard of!


Thanks again to all of you

Happy Trading

Mark
(UK)
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