Yet Another "No Brain" GBPJPY strategy

Well! They are two, actually!

1st Strategy
Sunday Candle Break Out:
4hour GBPJPY graphs
Using GMT, some forex brokers Metatrader graphs (Admiral Markets, North Finance,...) present a Sunday candle, made between 21:00 and 0:00.
Put a buy order 25 pips above the top of this candle, with a 150pips T/P objective. Put the stop loss at the low of the Sunday candle.
Put a sell order 25 pips below, and follow the mirrored procedures described above.
If a trade fails (stop loss), do not re-enter. Let the opposite trade do his job.
http://i11.photobucket.com/albums/a1...co17/150_1.png

http://i11.photobucket.com/albums/a1...co17/150_2.png


2nd Strategy
Morning Break Out:
1 hour GBPJPY graphs
Using GMT, observe the rage between 1:00 and 09:00 (Note: using eagle-breakout indicator, I've put between 0:00 and 8:59; for some reason it have ignored the 0:00 candle - but it works fine).
Put a buy order 2 or 3 (+spread) pips above the top of this rage. T/P objective is half of the rage or at least 20 pips. Put the stop loss at the middle of the range or at least 20 pips.
Put a buy order 2 or 3 pips bellow the bottom of this rage. T/P objective is half of the rage or at least 20 pips. Put the stop loss at the middle of the range or at least 20 pips.
If a trade fails (stop loss), re-enter. Even after a T/P, if the price came in to the range, you can retry another time.
If a trade last for more than one day, and is moving in the right direction, it is ok to let it go - just move up the stop loss, above or at the break-even.

http://i11.photobucket.com/albums/a1...ngbreakout.gif

I've made some paper trade back tests, and it seems to work OK, but as I do not know how to program Metatreder EA, I´ve use little and recent data.
Can any one help me in this task?

Please be gentle; I'm just a beginner . Any suggestions are welcome.

box systems are notorious for not long term viable. However, i am looking for some system that will allow for a once a day entry at the same time every day. As of yet havent found anything

Perhaps someone would be so kind as to run a backtest for the past 3 years

I have tested numerous box systems, and they all have one thing in common.

Market conditions change, and because of the rigid nature of box systems, i.e. unable to adapt, they always fail in the long run.

Today: Buy @ 213.07 -> T/P 213.58

http://i11.photobucket.com/albums/a1...t30jan2008.gif

kaching!!

btw i saw that you used the eagle-breakout indicator.....
seems to work fine 2 my doesn't it?

keep on the good work

just a note.....
on the beginning of jan 25 we had a signal to buy coz it broke the box and would have resulted in a loss but i dont see it on your chart...!?
jan 25 from 00:00 untill 08:00 the box ebded @ 213.49 and the candle @ 09:00 broke the box so that would be a buy right?
just a note but would have costed you about 105 pips

keep up the good work though!!

No. There is a problem in the graph. The last candle has a shadow (covered by the rectangle) that goes till 214.01!! So the rectangle is right.

By the way, another successful trade today:
Sell @ 211.81 -> T/P @ 211.50 (31 pips)

P.S. - OOPS! You are right, hollandpippin! I've made a mistake, when I've described the method! It should have been between 1:00 and 9:00. In Metatrader, when I point to the last candle it marks 8:00, but it ends at 9:00, actually. Sorry about that. I'll correct the firts post.
By the way, the hours that I have put in my eagle-breakout indicator (that I've forgot since the last time i've tune it) are 0:00 to 8:59. Strangely, it ignores the 0:00 candle. But it works fine till now.

Setup for today:
GBPJPY
[email protected]; S/L@ 211.50; T/[email protected]
[email protected]; S/L@ 211.50; T/[email protected]
Let us see how it works.

[email protected]; T/[email protected] : + 72 pips.

Note: I forgot to mention that it have to be added the spread to the [email protected]. It haven't been touched by one or two ticks.

yep it was almost a buy today but missed it by 2 pips
the sell was a winner!

keep on the good work!!

@ 17:48 gmt had a buy signal @212.30 and i took it
lets wait and see st is @212.56 and tp is @ 213.04

st hit pitty...

Yes. It doesn't work all the time... (fortunately I've miss that trade).

Setup for today:
Range:
212.26 to 211.33
Buy@ 212.36 T/P@ 212.73 S/L@ 211.80
Sell@ 211.30 T/P@ 210.87 S/L@ 211.80

After 3 failed signals, I've no guts to try a third one!
http://i11.photobucket.com/albums/a1...co17/fails.png

Sunday Candle Break Out: This week + 150pips
http://i11.photobucket.com/albums/a1...le5fev2008.png

Morning Break Out:
This week, not a great deal, till now: -80+38+46=4pips
http://i11.photobucket.com/albums/a1...ng5fev2008.png

Dude, seriously, you're wasting your time with this strategy. It's not gonna hold up long term. You can go back and manually test it and you'll see what I mean.

OK. I don't bother you any more with this stuff. Sorry for that!
I'll return if I get more interesting "back tested" results!



P.S. - By the way: No trade yesterday. +45 pips today!