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Breakout + Spread!! Sure!!!

  • #881
  • Feb 11, 2008 8:44am Feb 11, 2008 8:44am
Well I hope this thread hasn't died. There's some great work on here....eagle, George, beachbum, etc.... it's a great thread and a great method. I haven't posted on here but this is one of the methods I use to glean a few pips from the start (for me) of the trading day. Very reliable although I have a slightly different set-up which suits me.
It's my view that 10 pips a day can give you a very good living at this game, all else considered. (Not forgetting other pairs). I struggled for a long time in forex and this method helped me turn the corner. Shame to watch it fade away.
Dave
  • #882
  • Feb 11, 2008 9:29am Feb 11, 2008 9:29am
Hello Acko......

I think it's been quiet here because WHTenn 'went away' for a while and the rest of us are just quietly using this method to regularly bank pips.

Would you mind sharing with us your "slightly different set-up"? All suggestions are appreciated..........

Quoting Acko
Well I hope this thread hasn't died. There's some great work on here....eagle, George, beachbum, etc.... it's a great thread and a great method. I haven't posted on here but this is one of the methods I use to glean a few pips from the start (for me) of the trading day. Very reliable although I have a slightly different set-up which suits me.
It's my view that 10 pips a day can give you a very good living at this game, all else considered. (Not forgetting other pairs). I struggled for a long time in forex and this method helped me turn the corner. Shame to watch it fade away.
Dave
  • #883
  • Feb 11, 2008 10:41am Feb 11, 2008 10:41am
Sure, no probs.
Well, I like things very simple. I like to do the 15min. Just the BOut box set at 05:00 to 06:45. Box end at 10:00. Go for 10+spread only and no BOut trade after 10:00. Jump to my other methods then. This lets me get at the 7am candle should it start to rocket. All times GMT.
I have the 50emas, close, high, and low: visual only. And Macd std settings. As we're only going for quick tens, I like to see the fast macd on the correct side of the slow for confirmation. I look at 6 pairs so you might think this could be 60 pips. Alas, no. I can only manage 3 comfortably if things go tits up, which they can as you know. I set buy/sell stops 2 pips beyond the box prior to 7am. A simple method, but reliable. About 65% hit rate, which could be improved upon I'm sure. What's your hit rate BB?
Dave
Attached Image
  • #884
  • Feb 11, 2008 3:11pm Feb 11, 2008 3:11pm
Hello Dave....

My "hit rate" is close to 50% because I trade this method with very tight stops; and I have many B/E trades because I quickly move my stop to B/E. My thinking is that I want the price to move strongly in 'my direction' when it leaves the B/O box. If it stalls, I want out with a small loss or a B/E trade. Many times the price will move strongly AND quickly in my favor; those are the trades I want to stay in for as long as possible. I will do this by watching the 15 min chart and moving my S/L along until the price stalls or I get stopped out. The winners are usually large and the losers small; so the 50% win rate works well for my style of trading (and the B/Es are just the cost of doing business). HTH.........happy trading!


Quoting Acko
Sure, no probs.
Well, I like things very simple. I like to do the 15min. Just the BOut box set at 05:00 to 06:45. Box end at 10:00. Go for 10+spread only and no BOut trade after 10:00. Jump to my other methods then. This lets me get at the 7am candle should it start to rocket. All times GMT.
I have the 50emas, close, high, and low: visual only. And Macd std settings. As we're only going for quick tens, I like to see the fast macd on the correct side of the slow for confirmation. I look at 6 pairs so you might think this could be 60 pips. Alas, no. I can only manage 3 comfortably if things go tits up, which they can as you know. I set buy/sell stops 2 pips beyond the box prior to 7am. A simple method, but reliable. About 65% hit rate, which could be improved upon I'm sure. What's your hit rate BB?
Dave
  • #885
  • Feb 14, 2008 12:41am Feb 14, 2008 12:41am
Acko.
My macd indicator looks different, and shows different cross than yours.
Could you please uplaod your macd ind. or even your whole template?
Thnx.
  • #886
  • Feb 14, 2008 12:49am Feb 14, 2008 12:49am
Quote
Hello Dave....

My "hit rate" is close to 50% because I trade this method with very tight stops; and I have many B/E trades because I quickly move my stop to B/E. My thinking is that I want the price to move strongly in 'my direction' when it leaves the B/O box. If it stalls, I want out with a small loss or a B/E trade. Many times the price will move strongly AND quickly in my favor; those are the trades I want to stay in for as long as possible. I will do this by watching the 15 min chart and moving my S/L along until the price stalls or I get stopped out. The winners are usually large and the losers small; so the 50% win rate works well for my style of trading (and the B/Es are just the cost of doing business). HTH.........happy trading!

Good beachcum,

That's nearly a perfect one.............. will check it out

thanks
  • #887
  • Feb 14, 2008 6:28am Feb 14, 2008 6:28am
Quoting Naijafx
Good beachcum,

That's nearly a perfect one.............. will check it out

thanks
You're welcome................................
  • #888
  • Feb 15, 2008 6:29am Feb 15, 2008 6:29am
Quoting smilee89
Acko.
My macd indicator looks different, and shows different cross than yours.
Could you please uplaod your macd ind. or even your whole template?
Thnx.
This is just a bog standard macd honey. HTH
Dave
Attached File(s)
File Type: ex4 newMACD.ex4   3 KB | 764 downloads
  • #889
  • Feb 17, 2008 4:27am Feb 17, 2008 4:27am
Thank you, Acko.
  • #890
  • Feb 18, 2008 6:32pm Feb 18, 2008 6:32pm
Quoting climax
As I understand You use 15 stoploss
quote:"Would Put One Loss Of Arrest Of 15 Pips . " post#17

this is what I see:
hello. can you pls post me the eagle breakout indicator? i tried downloading it but it refuse to attach to my chart and i donot know why. pls help me send a new and sure link to [email protected] or post it on ff. thanks
  • #891
  • Feb 23, 2008 11:45am Feb 23, 2008 11:45am
i have some remarks about eagle breakout. And i think that one can be rich with that method by reducing losses.
so how to reduce losses? and how to maximize profit!

- if the height of the band is less than 90 you can go for tp=100 and sl=100
- if it's more than 90 you can go for 50pips or you can chose to do not place any buy/sell stop order. as for me i chose to stay aside.
when the height is less than 70pips i double the lot and i go for 100pips.
lest follow these pictures:
Attached Image (click to enlarge)
Click to Enlarge Name: g1.gif Size: 41 KB


Attached Image (click to enlarge)
Click to Enlarge Name: g2.gif Size: 39 KB
  • #892
  • Feb 23, 2008 11:47am Feb 23, 2008 11:47am
Attached Image (click to enlarge)
Click to Enlarge Name: g3.gif Size: 41 KB


Attached Image (click to enlarge)
Click to Enlarge Name: g4.gif Size: 40 KB
  • #893
  • Feb 23, 2008 11:54am Feb 23, 2008 11:54am
you can do yourself the experience to see if it's true or not.
i look forward your criticism and your analyses.
i know that ifyou practice it you 'll avoid many losses days.

GOD BLESS YOU!
  • #894
  • Feb 23, 2008 12:20pm Feb 23, 2008 12:20pm
Excellent.
It's only with GBPJPY or all pairs ?
  • #895
  • Feb 23, 2008 12:24pm Feb 23, 2008 12:24pm
Quoting madscalp
Excellent.
It's only with GBPJPY or all pairs ?
for the moment i trade with GBP/JPY
i'm doing some studies on GBP/USD and i'll give you the results.
  • #896
  • Feb 23, 2008 12:24pm Feb 23, 2008 12:24pm
Quoting madscalp
Excellent.
It's only with GBPJPY or all pairs ?
for the moment i trade with GBP/JPY
i'm doing some studies on GBP/USD and i'll give you the results.

thank you for your encouragement!
  • #897
  • Feb 23, 2008 1:19pm Feb 23, 2008 1:19pm
tresorfx..........you might want to consider using ATR on a Daily chart as a starting point for your research. The current ATR (20) for GBP/JPY is 250. If you use 90 pips as a benchmark for the size of your breakout box on that pair, that amount is approximately 40% of the ATR (which incidentally equals the ATR on a four hour chart). A similar .4 x ATR (20) on other pairs (or ATR on the 4 hour chart) would probably be useful for initially deciding the size of your B/O box. I have been doing something similar to this when using this strategy because I am of the opinion that a smaller B/O box lends greater weight to a successful B/O trade. HTH!

Quoting tresorfx
you can do yourself the experience to see if it's true or not.
i look forward your criticism and your analyses.
i know that ifyou practice it you 'll avoid many losses days.

GOD BLESS YOU!
  • #898
  • Feb 23, 2008 7:03pm Feb 23, 2008 7:03pm
Tresor, what hours are you using for the indicator (5-8 GMT)?
  • #899
  • Feb 24, 2008 4:38am Feb 24, 2008 4:38am
Hi, your set up looks interesting, can email to me as well? at [email protected]. thanks.
  • #900
  • Feb 24, 2008 11:57am Feb 24, 2008 11:57am
Quoting natejax
Tresor, what hours are you using for the indicator (5-8 GMT)?
i use 5-8GMT. I noticed that 4-7GMT was also interresting but i didnot do any reseach for that!
thx bye
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