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Attachments: Weekly Gbpjpy Breakout System
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Weekly Gbpjpy Breakout System

Anybody try this system with other pairs?


thanks
Check post 50 (or near there), and there is another quick reference after that, but I couldn't find it in the 2 minutes I was looking... I just know it is there.

Post 50 says it isn't seen in a couple of other pairs checked. The later post said it might be in a couple of other pairs (I don't remember specifics). In short, I don't know how complete the analysis has been on this.
Interesting question about how to handle this system for the coming week due to the Good Friday lack of trading. Going by strict rules I show the top of the channel after enlarging for min channel height of 100, at 197.71; bottom at 196.71. The question is, would it be better to look back at Thursday's activity instead.

I guess we'll know for sure what was best... next Friday. Any thoughts?
Quoting Qman
Interesting question about how to handle this system for the coming week due to the Good Friday lack of trading. Going by strict rules I show the top of the channel after enlarging for min channel height of 100, at 197.71; bottom at 196.71. The question is, would it be better to look back at Thursday's activity instead.

I guess we'll know for sure what was best... next Friday. Any thoughts?
The rule about adding pips to the range to make it at least 100 was made for days like today. I'd stay with the rules and stay with Friday.
I always wanted a GBPJPY breakout strategy. I will test this out over the weekend.
My question is why limit this to a week. If say on Tuesday the TP has been hit. Why not take the previous 2 - 3 4H bars and start over? To potentially execute 2-3 TPs in a week?
.
Quoting bullrock
My question is why limit this to a week. If say on Tuesday the TP has been hit. Why not take the previous 2 - 3 4H bars and start over? To potentially execute 2-3 TPs in a week?
...ummmm... because we're lazy minded, and haven't been wise enough to look and see if it might work... Just a thought.

Look over the last couple of weeks, and if you find it might be possible, I'll try to spend some time on it in the coming week.
Well... go for it and let us know what you find!! Some of us have done the work... and have found that this pair is unique among all the pairs in that there is a defined move at the beginning of the new week, that this breakout strategy capitalizes on.... looking at other times through the week, we have not seen the same moves, hence, not the same results...

But still, always good to have another set of eyes looking at things! Keep us posted...

And... keep in mind, 2000 to 4000 pips a year for the last 3 or so years is pretty dang good! And that is the simple 1x system, once a week, reentry on loss only..!!!
Another winner!- using harold's rules as written.
yes, +200 on this one
Regards
it also most triggered the sell but it didnt and went on to hot 100 pip target i am glad this is not horseshoes otherwise we would have lost
Have you ea for Weekly Gbpjpy Breakout System ??

Quoting bigricky
Billbss,
Thats how I see it aswell when taking one of these trades I risk a certain amount of account (either 1% or 2%) on each trade. The number of pips doesn't really matter. (Unless backtesting proves that smaller or larger pip channels are more sucessful etc..).

This is what I based my backtest on and came up with the above figures(1% RR).

2% RR per trade
2005 1x chan 17.93%
2x chan 19.71%

2006 1x chan 21.70%
2x chan 5.36%

If anybody else has backtested this with a fixed % RR system, or can show a different system that shows a different result I would be keen to swap spreadsheets and compare notes

Thanks guys
signals today ??
Quoting wallstreet03
signals today ??
This is once a week system, next signal will be on Friday close
Regards
Excellent! Congratulations!

eagles
Hi Can any of this week winner post a screenshot of his/her trade
Thanks
Quoting harar
Hi Can any of this week winner post a screenshot of his/her trade
Thanks
Here we go
Attached Image
Regards
Thanks Howard for your screenshot. Do you mind marking the candeles you used for your entry and what is the indicator you have on your chart
.
Thanks and regards
Quoting harar
Thanks Howard for your screenshot. Do you mind marking the candeles you used for your entry and what is the indicator you have on your chart
.
Thanks and regards
The thick blue line looks like a Gann Hi/Low line to me and the red lines on Howard's chart look to be the range of the bars you use as your "breakout" zone with this strategy. The thin blue line looks like a daily range indicator or something like, maybe weekly pivots?

pn
Quoting harar
Thanks Howard for your screenshot. Do you mind marking the candeles you used for your entry and what is the indicator you have on your chart
.
Thanks and regards
The blue line is Gann H/L it has nothing to do with this method, the red lines show the breakout channel and blue thin lines show 1X channel width for those who want to take profits at this level. According to the rules however the the profit level should be at 2X channel width and that is what I do.

The breakout channel indicator is in this thread, you can download it.
Regards
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