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Weekly Gbpjpy Breakout System

  • #281
  • Jun 2, 2008 8:40am Jun 2, 2008 8:40am
Good Morn'in y'all,

billbss: What is your current win/loss ratio with this system? I have followed your commentary on several other threads, and you seem to readily cut through the BS to determine whether a particular strategy is viable or not. Are you also profitably trading any other systems that you can recommend?


ikacek: Are you a displaced Badger fan? I'd love to have a good friend to visit in Tampa when the winters here turn frigid! LOL
  • #282
  • Jun 2, 2008 8:51am Jun 2, 2008 8:51am
Hey Bill,

I have also been trading isydeb's grid hedge, an adaptation of dreamliner's and Elijah's strategies. Just like my plan to live forever...so far, so good! LOL
7 wins no losses. I still don't like the total drawdown (DD) with these systems, so I am actually using the strategy to scalp profits. I know their systems were not designed that way, but apparently this methodology lends itself to scalping.

I hope I have not drawn away from the main premise of this thread, I will henceforth stay with the theme.

bilbss...thanks for all you do to help the rest of us!
  • #283
  • Jun 2, 2008 9:13am Jun 2, 2008 9:13am
I also had a win on my live account today.

I agree that Billbss is a very helpful individual. I've seen many different threads where he was there to answer questions and help to clarify the rules of a system.

Thanks, Bill.
  • #284
  • Jun 2, 2008 9:18am Jun 2, 2008 9:18am
Quoting Bobcat2
Good Morn'in y'all,

billbss: What is your current win/loss ratio with this system? I have followed your commentary on several other threads, and you seem to readily cut through the BS to determine whether a particular strategy is viable or not. Are you also profitably trading any other systems that you can recommend?


ikacek: Are you a displaced Badger fan? I'd love to have a good friend to visit in Tampa when the winters here turn frigid! LOL
This is using harold4x rules + bigricky's rule of going for 2x the range after a stop out. Taking the range from NF and trading with IBFX.
http://www.forexfactory.com/showpost...45&postcount=9


21 winning weeks and 2 losing weeks, since the 1st of this year.

A losing week is 2 losses.
That makes 21W - 4L since the 1st.

Since the system was posted:
18 W weeks - 2 L weeks
18W - 4L trades since the system was posted.

I have not taken every trade.
There were a couple of weeks that price had gapped and didn't return to within the range, before hitting the TP.
  • #285
  • Edited 10:05am Jun 2, 2008 9:52am | Edited 10:05am
Quoting Bobcat2
Good Morn'in y'all,

billbss: Are you also profitably trading any other systems that you can recommend?

I trade a daily commercial system called "_" that is profitable.
I've had it for years and don't know if it's sold any more.

I also trade the Cowabunga system on the G/U. I trade it at times. It requires staying up all night and nursing the trades. It's profitable, but I have not kept stats on it.
It's on another forum. I don't want to advertise other forums, but you can find it if you look.
It shows the running statistics of the system.

EDIT: I found out the system I mentioned in the first paragraph is being sold. I'm going to remove it's name. I don't want any hint that I'm spamming it.
  • #286
  • Jun 2, 2008 12:42pm Jun 2, 2008 12:42pm
Quoting Bobcat2
Good Morn'in y'all,

billbss: What is your current win/loss ratio with this system? I have followed your commentary on several other threads, and you seem to readily cut through the BS to determine whether a particular strategy is viable or not. Are you also profitably trading any other systems that you can recommend?


ikacek: Are you a displaced Badger fan? I'd love to have a good friend to visit in Tampa when the winters here turn frigid! LOL
Hi, I am from Czech republic, live here for 6 years... love it here, except summer time (way too hot) ..
Veni, vidi, vici...
  • #287
  • Jun 2, 2008 1:23pm Jun 2, 2008 1:23pm
Has anyone attempted to trade this strategy on currency pairs other than GBP/JPY? Past experience indicates GBP/USD might be a winner. Any ideas?
  • #288
  • Jun 2, 2008 1:32pm Jun 2, 2008 1:32pm
Quoting Bobcat2
Has anyone attempted to trade this strategy on currency pairs other than GBP/JPY? Past experience indicates GBP/USD might be a winner. Any ideas?
I haven't.
I'm sitting here wondering why this wouldn't work on a daily basis.
Use the last 2 4H bars before 0GMT.
That needs to be backtested. I'll do it, if I get the time.
  • #289
  • Jun 2, 2008 3:33pm Jun 2, 2008 3:33pm
Quoting billbss
I haven't.
I'm sitting here wondering why this wouldn't work on a daily basis.
Use the last 2 4H bars before 0GMT.
That needs to be backtested. I'll do it, if I get the time.
Bill...my thoughts exactly. More power to you!

BTW, I quickly looked at GBP/USD for the Friday,s settings, and it would have been profitable, as well. However, I prefer your idea of working this on a daily basis.

In the past three years, the only consistant way of trading for me has been some sort of breakout straddle...mostly Asian market Hi/Lo heading into the Frankfurt, and subsequent London markets. There are a thousand different ways to straddle trade, but none have met with the high degree of success that you have achieved.

I trade with Oanda, so it will be easy for me to follow your idea with a penny per pip. I like that better than a demo account, because even though the trading amount is miniscule, it is still a live trading platform, and even a small pittance makes it more interesting for me to trade.
  • #290
  • Jun 3, 2008 2:28pm Jun 3, 2008 2:28pm
First I Say "Hello" to all.Sorry for my Englissh,but it`s not my natural language.

I come from Germany and do my Trades with ABN-AMRO. Thats the same as Oanda Platform.
I have read all Posts about this Sytem but one Answer I miss.

Spread in the Night is 12Pips and go Down 6:00 GMT (8:00 Germany) to 6
Pips.
Which Pips i need to calculated .

Although I stay Home for 2 Month because I have an Accident. I would make a Backtest for the 6 Major Pairs and would post them here if interessed
From 2003 -2007
Thanks for Answer

Icemaan
  • #291
  • Jun 3, 2008 5:44pm Jun 3, 2008 5:44pm
Quoting Icemaan
First I Say "Hello" to all.Sorry for my Englissh,but it`s not my natural language.

I come from Germany and do my Trades with ABN-AMRO. Thats the same as Oanda Platform.
I have read all Posts about this Sytem but one Answer I miss.

Spread in the Night is 12Pips and go Down 6:00 GMT (8:00 Germany) to 6
Pips.
Which Pips i need to calculated .

Although I stay Home for 2 Month because I have an Accident. I would make a Backtest for the 6 Major Pairs and would post them here if interessed
From 2003 -2007
Thanks for Answer

Icemaan
Since you do not know when the breakout will come, I would average the spreads and set it for 9. It won't make a lot of difference.
  • #292
  • Jun 5, 2008 1:56am Jun 5, 2008 1:56am
Hey Bill,

Since I started trading this breakout system on a daily basis, I have 2 profitable days and no losses so far.

I have been calculating my box from North Finance charts, but trading from my live account with Oanda.

The NF Hi was 205.82
The NF Lo was 204.52
Range = 133 pips

The Oanda Hi was 205.91
The Oanda Lo was 204.51
Range = 140 pips

Do you think I am better served by using Oanda's box numbers since I am actively placing my trades with Oanda? Or do you think it's still better to take my Buy/Sell entry points from the NF charts?

Blessings!
Bob
  • #293
  • Jun 5, 2008 1:59am Jun 5, 2008 1:59am
Point of clarification...Oanda has 3 Hr time frames but no 4 Hr time frames, so I simply take 8 (1 hour) candles for my calculation. I do the same for North Finance.
  • #294
  • Jun 5, 2008 7:04am Jun 5, 2008 7:04am
Quoting Bobcat2
Hey Bill,

Since I started trading this breakout system on a daily basis, I have 2 profitable days and no losses so far.

I have been calculating my box from North Finance charts, but trading from my live account with Oanda.

The NF Hi was 205.82
The NF Lo was 204.52
Range = 133 pips

The Oanda Hi was 205.91
The Oanda Lo was 204.51
Range = 140 pips

Do you think I am better served by using Oanda's box numbers since I am actively placing my trades with Oanda? Or do you think it's still better to take my Buy/Sell entry points from the NF charts?

Blessings!
Bob
It probably won't matter.
I've been taking the range from NF because that's what harold backtested.
If you take it from Oanda, be sure the times match the last two 4H from NF. Oanda might close earlier or later.
  • #295
  • Jun 5, 2008 2:58pm Jun 5, 2008 2:58pm
Hi
When I take the Range of Northfinance from last Week then normaly not can make a Trade this Week

The Gap is below the Range. Is this correct

When i Take the last two Bars from ODL the Range is < 100 so i Take 3 Bars
Then the Gap is between the Range and the Trade was perfect on Monday

Have everone Backtested with ODL

Icemaan
  • #296
  • Jun 5, 2008 5:41pm Jun 5, 2008 5:41pm
Quoting Icemaan
Hi
When I take the Range of Northfinance from last Week then normaly not can make a Trade this Week

The Gap is below the Range. Is this correct

When i Take the last two Bars from ODL the Range is < 100 so i Take 3 Bars
Then the Gap is between the Range and the Trade was perfect on Monday

Have everone Backtested with ODL

Icemaan
I trade IBFX and use NF for the entry points.
There have only been 2 occasions this year that a trade was not possible because of a gap.
It has gapped several times, but has returned to the range and allowed orders to be placed.
Twice it didn't return and went on to hit the TP.
  • #297
  • Jun 6, 2008 3:27am Jun 6, 2008 3:27am
I place my trade just before market close on Friday
  • #298
  • Jun 6, 2008 6:05am Jun 6, 2008 6:05am
"Beware the Ides of March!"

Ok...so it's not March, but the NFP news is nearly upon us. As such, I am not trading, today. My weekly breakout trade was profitable as well as my three subsequent daily trades...so I am a happy camper.

It would be nice to hear how others are faring with trading this breakout system. How about you lurkers out there?
  • #299
  • Jun 6, 2008 5:31pm Jun 6, 2008 5:31pm
Can anyone please place the buy and sell entry orders for the next week?
  • #300
  • Jun 6, 2008 8:28pm Jun 6, 2008 8:28pm
Bill, please correct me if I am wrong.

My NF chart shows Friday's two candles with a Hi of 207.88 and a Lo of 206.64. The range is 124 pips, that qualifies because the range is more than 100 pips.

Adding a spread of 9 pips, plus 1 pip at the top and -1 pip at the bottom, the entries should be limit orders as follows:

Buy 207.98
SL 206.63
TP 209.33

Sell 206.63
SL 207.98
TP 205.28
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