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Weekly Gbpjpy Breakout System

  • #301
  • Jun 6, 2008 8:41pm Jun 6, 2008 8:41pm
Quoting Bobcat2
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

That's what I have.

We may have a gap Sunday evening.
If we do, I'll wait until price retraces back into the range (if it does), before placing my orders.

PS- You're calling them limit orders. You must trade with Oanda.
To every other broker thay would be stop orders.
  • #302
  • Jun 7, 2008 3:52am Jun 7, 2008 3:52am
I just realise NF is sold to FxPro.com. Do their data looks the same?

Someone please verify (you can't dl NF MT4 now)

http://www.northfinance.com/
  • #303
  • Jun 7, 2008 7:04am Jun 7, 2008 7:04am
Yeah i use NF, but it is now FxPro, everything still appears to be the same. Anyone who had an NF account automatically had it transferred over to FxPro.

Alex
  • #304
  • Jun 7, 2008 2:06pm Jun 7, 2008 2:06pm
We may have a gap Sunday evening.

Hi Billbss

Are you expecting Gap UP or DOWN on Sunday?

With regards,
  • #305
  • Jun 7, 2008 2:26pm Jun 7, 2008 2:26pm
Quoting gupta_pramod
We may have a gap Sunday evening.

Hi Billbss

Are you expecting Gap UP or DOWN on Sunday?

With regards,
Gap down.
It closed Friday at the bottom of the candle.
  • #306
  • Jun 7, 2008 3:40pm Jun 7, 2008 3:40pm
Quoting billbss
That's what I have.

We may have a gap Sunday evening.
If we do, I'll wait until price retraces back into the range (if it does), before placing my orders.

PS- You're calling them limit orders. You must trade with Oanda.
To every other broker thay would be stop orders.
Strange!
I'm using FXCM, high = 208.08, low = 206.70

So,
Buy = 208.18
TP = 209.67
SL = 206.69

Sell = 206.69
TP = 205.20
SL = 208.18

Which figures to use, yours or mine?
  • #307
  • Jun 7, 2008 4:05pm Jun 7, 2008 4:05pm
Quoting pino2
Strange!
I'm using FXCM, high = 208.08, low = 206.70

So,
Buy = 208.18
TP = 209.67
SL = 206.69

Sell = 206.69
TP = 205.20
SL = 208.18

Which figures to use, yours or mine?
It's not really strange. Different brokers start their 4H bars at different times and they close at different times on Fridays.

I use the figures from NF. I use them because those were the numbers harold used in his backtest. It may not matter, but it's very easy to do it the same way he did.
  • #308
  • Jun 7, 2008 5:17pm Jun 7, 2008 5:17pm
Quoting sookiat
I just realise NF is sold to FxPro.com. Do their data looks the same?

Someone please verify (you can't dl NF MT4 now)

http://www.northfinance.com/

The platform we will be using until August seems to be the same and on the same North Finance server. In the communication they sent they stated that the update of the platform would be effectively done at that time, and thus meanwhile we wouldn't "be treated the same as FXPro accounts" (I translate this to: "have the same operating conditions", I guess because their difference in some of the spreads maybe, and the micropips).

So by now, we are still on the same NF server.
I downloaded a demo platform from FXPro, the data (pairs and such) is the same, but they have micropips (that is, 5 decimals and 3 decimals on prices). Those of you who use EAs will have to take this into account as they won't work on that platform until you change the pip value.
  • #309
  • Jun 9, 2008 8:43am Jun 9, 2008 8:43am
Profit!
  • #310
  • Jun 9, 2008 8:46am Jun 9, 2008 8:46am
Quoting Bobcat2
Profit!
I took the short breakout and got stopped out.

I've targeted 2x on the long. The long trade is still open.
  • #311
  • Jun 9, 2008 10:27am Jun 9, 2008 10:27am
Bill,

I trade with Oanda. With slight chart variations from North Finance, my short was not filled...but I can see where your short was filled. It looks like you made a profit from the Buy?
  • #312
  • Jun 9, 2008 10:46am Jun 9, 2008 10:46am
Quoting Bobcat2
Bill,

I trade with Oanda. With slight chart variations from North Finance, my short was not filled...but I can see where your short was filled. It looks like you made a profit from the Buy?
I'm in profit now, but the trade is still on.

I use bigricky's method of doubling my TP if I get stopped out.
  • #313
  • Jun 9, 2008 7:37pm Jun 9, 2008 7:37pm
Profit.
  • #314
  • Jun 10, 2008 12:31am Jun 10, 2008 12:31am
Anyone make a daily trade?
  • #315
  • Jun 10, 2008 7:22pm Jun 10, 2008 7:22pm
Settings for tonight's DAILY trade:

BUY 210.08
Stop Loss 208.67
Take Profit 211.49

SELL 208.67
Stop Loss 210.08
Take Profit 207.26

BTW, I started trading live two weeks ago. The weekly trades were both winners...the three daily trades I made were also winners.

Godd trading y'all!
Bob from Southern Wisconsin
  • #316
  • Jun 10, 2008 7:26pm Jun 10, 2008 7:26pm
Quoting Bobcat2
Settings for tonight's DAILY trade:

BUY 210.08
Stop Loss 208.67
Take Profit 211.49

SELL 208.67
Stop Loss 210.08
Take Profit 207.26

BTW, I started trading live two weeks ago. The weekly trades were both winners...the three daily trades I made were also winners.

Godd trading y'all!
Bob from Southern Wisconsin
What are your rules for your daily trade?
How do you find the range?
Thanks
  • #317
  • Jun 10, 2008 8:17pm Jun 10, 2008 8:17pm
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...that's funny! I'm following your recommendations! LOL
  • #318
  • Jun 11, 2008 2:26am Jun 11, 2008 2:26am
Ok...I used some discretion and manually closed out my daily trade for a 30 pip profit...so in2 weeks I have had all wins.

This thread seems to have died an unseamly death. Too bad, because the strategy has been profitable for me.

This is my last post unless someone provides some feedback.

Blessings!
  • #319
  • Jun 11, 2008 3:03am Jun 11, 2008 3:03am
Quoting Bobcat2
Ok...I used some discretion and manually closed out my daily trade for a 30 pip profit...so in2 weeks I have had all wins.

This thread seems to have died an unseamly death. Too bad, because the strategy has been profitable for me.

This is my last post unless someone provides some feedback.

Blessings!

Hi bobcat,

Some feedback on what? If you mean the daily trade i didnt even know it existed. The weekly one i have been foloowing for 4 weeks now and had all winners! It looks very promising to me but time will tell. I think part of the reason this thread is quite quiet is probably because there is only 1 or sometimes 2 trades at the beginning of the week. I cant understand why else it would be so quiet - billbss results so far are bloody good, and everyone elses are to. Im definately going to continue to test this on my live micro account.

Alex
  • #320
  • Edited 3:27am Jun 11, 2008 3:14am | Edited 3:27am
Quoting Bobcat2
Ok...I used some discretion and manually closed out my daily trade for a 30 pip profit...so in2 weeks I have had all wins.

This thread seems to have died an unseamly death. Too bad, because the strategy has been profitable for me.

This is my last post unless someone provides some feedback.

Blessings!
Sorry but can't seem to find what the rules are for the daily trades, can you please share?
On the weekly trades I've had all winners since starting with this, and it seems like a great system for the geppy, and I will continue with it, after all who can say no to great pips?!
I dont think the thread is dying but the weekly breakout is good as it is and dont need improvements (obviously) so thats why not so many are posting I think, now maybe we could look at the daily if you you would like to share?

EDIT: found the rules, use the last two H4 bars before 0GMT. So because the last 2 hours are less than 100 pips range you use the last 3 bars? Doing that gives me the same entries as you have written. Will demo this and share here.
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