Menu
Sister Sites

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

Breakout Trading - Simple Weekly System 179 replies

Another great Breakout GBP/JPY System (Dachel's Simple system) 62 replies

FXKRED system about 200 pips Daily on GBPJPY 189 replies

System on gbpjpy 82 replies

mphpopular "system gbpjpy - breizhfx" 23 replies

Attachments: Weekly Gbpjpy Breakout System
Exit Attachments

Weekly Gbpjpy Breakout System

Can you please post the buy and sell entry orders for this week to check it with mine
Quoting howard
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.

I was two thirds correct then!!
Quoting pino2
Can you please post the buy and sell entry orders for this week to check it with mine
Using North Finance (as in harold4x's backtesting) the signals on my server are:

Buy 199.70 (you will need to add your broker's spread to this)

Sell 197.52

Is this what you have?
Quoting purenirvana
Using North Finance (as in harold4x's backtesting) the signals on my server are:

Buy 199.70 (you will need to add your broker's spread to this)

Sell 197.52

Is this what you have?
Thanks purenirvana, yes same figures here using FXCM
can we use the last 8 hours instead of using the last 2 candles, will it give us the same result?
Quoting hshoukry
can we use the last 8 hours instead of using the last 2 candles, will it give us the same result?
8=2x4
It is the same
Regards
Nil balance here this week, went short stopped out, went long +100
Quoting hshoukry
can we use the last 8 hours instead of using the last 2 candles, will it give us the same result?
Actually, it depends on your broker. Some, like IBFX, close earlier than North Finance (broker used by the originator of the system). Also, you would need to keep in mind the server time of your broker as well. To be precise, you should be using the high and low of the GMT 1400 to GMT 2100 bars (unless something got screwy with the daylight savings time calculations).

Overall, I've found it easier to just get a demo account with NF and pull the numbers from there (last 2 4H bars of the previous week). They also provide the advantage of opening an hour earlier on Sunday than IBFX -- something that would have made a huge difference just 2 weeks ago... So, if you are really serious about puting a big portion of your account at risk with this system, you might want to consider having an account that doesn't introduce the bugs IBFX does with their week start and end times... not to mention NF has a much lower spread.
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?
I have been backtesting this system on daily basis, it seems to work really good. I have been trading it on demo for the last 4 weeks and the result is !!! good I can say.

I use the last 2-3 candles on the 1 hr time frame to determine the proper range. I wait for the first hour to end, Then I set my orders. I use febo levels to determine my targets.

BK
I had been working on similar system when I found this thread. I have modified the indicator in this thread so that you can have it on the H1 TF. This way you can choose how many hourly bars you want to consider. If there is a gap I suggest that we consider the first hour of the new week as well, this can be set by choosing "true" in the "gap" selection. This indicator works only for H1 and H4 TF's (by switching to H4 TF you get the original indicator).
In the top left you can see how far away the price is from the box top and bottom and how wide the channel is. The box is always a minumum 100 pips wide. Also you can see the average range of the week.
I have found that if the box is taken for the first hour of the new week and the last hour of the previous week it gives a very good range for the breakout. Regarding the average range of the week I'm still testing to see how this can be used in this strategy. One thought is what happens if the price has traveled X pips and turned around - how far is it likely to go to the otherside depending on how much is left on the average range.

Red = Range, Blue = 1X TP, Aqua = 2X TP
Attached Image (click to enlarge)
Click to Enlarge Name: sample.gif Size: 20 KB
Attached File(s)
File Type: mq4 WeekEndChannel.mq4   4 KB | 612 downloads
I've made EA for this system and test it on 4H with 1xTP.

System works but only in 2006,2007,and by now in 2008.
2000-2005 it waste all account whith high speed. I stopped research by now. We need something to bind system to volatility of current market


Quoting bkoori
I have been backtesting this system on daily basis, it seems to work really good. I have been trading it on demo for the last 4 weeks and the result is !!! good I can say.

I use the last 2-3 candles on the 1 hr time frame to determine the proper range. I wait for the first hour to end, Then I set my orders. I use febo levels to determine my targets.

BK
Quoting Dezil
I've made EA for this system and test it on 4H with 1xTP.

System works but only in 2006,2007,and by now in 2008.
2000-2005 it waste all account whith high speed. I stopped research by now. We need something to bind system to volatility of current market
I think that GBPJPY depends on mostly carry trades, as long as we have a 4% gap of interest rate, volatility of this pair will still rocking. We should find out why this pair was less volatile in those years, what were the main causes? Should find out from traders who ve' been in the market for a while. Thats the first fact.

The second fact is that more people got in to the forex in the last two to three years. Thats for sure had alot of effect in the market, I guess.

I think this pair is still has alot to give for this system this year.

Good Luck,


BK
I like this idea.

But from last week to this week a lot of things can happen, and sunday open may always has gap.

I would rather use this week first 8 hour bar as break out point.
Try Test On North Finance I Show +2300 For 2005 Thats As Far Back As I Went
Nil balance again on GBP/JPY, but was successful with Eur/JPY +100
Quoting gloworm
Nil balance again on GBP/JPY, but was successful with Eur/JPY +100
The GBP/JPY trade is still open.
Not here it aint
The high & low of my channel was 203.47/202.15, I think any diffs must be in bar timing & /or broker diff. It went long for me then stopped & went short & gave +100.
Hit profit.

That's 11W / 2L since January.
Quoting billbss
Hit profit.

That's 11W / 2L since January.
Hi Billbss,
What is your T/P?
1x chanell or 2x chanell?

Thanks
Veni, vidi, vici...
0 traders viewing now