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GBPJPY 50 Pips daily

  • #41
  • Jun 28, 2008 9:05am Jun 28, 2008 9:05am
Quoting mio
When a take profit is done close another order.
If one stop loss is done try again only in the same direction.

Mio
Thank Mio for your explaination, could you please try and explain that in red
  • #42
  • Jun 28, 2008 12:05pm Jun 28, 2008 12:05pm
Attached is a breakout calculator. Please review and let me know if any changes need to be made.

Just to verify, we are trading on a daily time frame with a breakout based on the prior high and low plus adding the buffer correct?
Attached File(s)
File Type: xls GBPJPY BREAKOUT CALCUALTOR.xls   16 KB | 615 downloads
  • #43
  • Jun 28, 2008 5:38pm Jun 28, 2008 5:38pm
Do you place pending orders on Sundays and if so do you use Fridays high and low for both Sunday and Monday pending orders?
  • #44
  • Jun 29, 2008 6:16am Jun 29, 2008 6:16am
Quoting lcfxtrader
Attached is a breakout calculator. Please review and let me know if any changes need to be made.

Just to verify, we are trading on a daily time frame with a breakout based on the prior high and low plus adding the buffer correct?
could you please check post 19 of this thread by mio, i think the results are conflicting with what you have in your excel sheet

Thanks
  • #45
  • Jun 29, 2008 1:02pm Jun 29, 2008 1:02pm
Quoting ebpippin
Do you place pending orders on Sundays and if so do you use Fridays high and low for both Sunday and Monday pending orders?
i place only on Monday.

I use Friday Candle.

I a m 3 weeks not able to anser your questions,because on holiday.
  • #46
  • Jun 29, 2008 1:04pm Jun 29, 2008 1:04pm
Quoting thehenryfam
Hey, Mio. I know you said you discount the Sunday candle since it is not reliable. But do you include it in the calculations for buy/sell levels for Monday?

In other words...

According to IBFX, Friday's high is $212.96. Let's say during the three hours on Sunday, the price goes up another 50 pips to $213.46. Is the buy level for Monday $213.01 (Friday's high plus 5 pips) or is it $213.51 (Sunday's high plus 5 pips)?

Many thanks, and have a great weekend.

Scott
include it,213.51 when you want.
I only take friday candle.
I am at today 3 weeks on holiday.
Not able to give answers.
Happy trading for you !!!
  • #47
  • Jun 29, 2008 1:09pm Jun 29, 2008 1:09pm
Quoting stanchuks
Thank Mio for your explaination, could you please try and explain that in red
When one stop loss is done (mean -75 at this day) example with a sell,then place after a pending order sell(not long) on same entry like the before.
IN ca.80% is a profit trade on second entry.
  • #48
  • Jun 29, 2008 1:25pm Jun 29, 2008 1:25pm
Here is my Excel File.

Fill only the daily high and low and excel will show you entrys with sl and tp.

Maybe we find an metatrader programmer that made an ea for this....

Mio
Attached File(s)
File Type: xls Daily Breakout GBPJPY.xls   20 KB | 510 downloads
  • #49
  • Jun 29, 2008 1:41pm Jun 29, 2008 1:41pm
Thanks for the clarification, Mio.

Have a great vacation!! Hopefully this thread won't die while you are away.

Scott

Quoting mio
include it,213.51 when you want.
I only take friday candle.
I am at today 3 weeks on holiday.
Not able to give answers.
Happy trading for you !!!
Prices are never too high to begin buying or too low to begin selling.
  • #50
  • Jun 29, 2008 1:53pm Jun 29, 2008 1:53pm
Here are the entries for Monday for those of us with IBFX (spread of 9).

BUY STOP: 213.18
SL: 212.42
TP: 213.75

SELL STOP: 210.28
SL: 211.04
TP: 209.71

Happy trading,

Scott
Prices are never too high to begin buying or too low to begin selling.
  • #51
  • Jun 29, 2008 3:25pm Jun 29, 2008 3:25pm
Mio,
If you're still around, what does this mean?

Quote
I like to enter the trade during the asian session ( 12:30am est cut off )

Does this mean you close orders if not filled by 12:30 EST?

Thanks
  • #52
  • Jun 29, 2008 3:31pm Jun 29, 2008 3:31pm
Quoting thehenryfam
Here are the entries for Monday for those of us with IBFX (spread of 9).

BUY STOP: 213.18
SL: 212.42
TP: 213.75

SELL STOP: 210.28
SL: 211.04
TP: 209.71

Happy trading,

Scott
Using the IBFX day candle might work, but it isn't the same thing Mio's doing.

Quote
Daycandle is:00:00-24:00 Central European Time (GMT+2 in Summer) (GMT+1 Winter)

He's using a broker that shows CET. IBFX uses pure GMT time.

If you use IBFX you need to end your day at 6PM EST. You can't use IBFX day candle to do that. It ends at 8PM EST.

You need to look at hourly charts and take the time from 2200GMT TO 21:59 GMT. That would match his day.

You can download an Alpari demo and use it's day candle.
  • #53
  • Jun 29, 2008 8:39pm Jun 29, 2008 8:39pm
If you all read again at post #19, Mio did mentioned that he use FXDD (GMT +2).
I hope this help.
  • #54
  • Jun 29, 2008 8:44pm Jun 29, 2008 8:44pm
Ok, thanks for noticing that, Bill.

I did check the hourly candles from 22:00 to 21:59 and it appears that the new entries are still the same as what I posted earlier. Let me know if you get something different.

Thanks,
Scott


Quoting billbss
Using the IBFX day candle might work, but it isn't the same thing Mio's doing.



He's using a broker that shows CET. IBFX uses pure GMT time.

If you use IBFX you need to end your day at 6PM EST. You can't use IBFX day candle to do that. It ends at 8PM EST.

You need to look at hourly charts and take the time from 2200GMT TO 21:59 GMT. That would match his day.

You can download an Alpari demo and use it's day candle.
Prices are never too high to begin buying or too low to begin selling.
  • #55
  • Jun 29, 2008 8:53pm Jun 29, 2008 8:53pm
Quoting thehenryfam
Here are the entries for Monday for those of us with IBFX (spread of 9).

BUY STOP: 213.18
SL: 212.42
TP: 213.75

SELL STOP: 210.28
SL: 211.04
TP: 209.71

Happy trading,

Scott
almost the same like mine
  • #56
  • Jun 29, 2008 11:04pm Jun 29, 2008 11:04pm
Not sure, but on post #17 he mentioned that you look for trades for 18 hours. If nothing is triggered by then, close all pending orders.

Scott

Quoting billbss
Mio,
If you're still around, what does this mean?



Does this mean you close orders if not filled by 12:30 EST?

Thanks
Prices are never too high to begin buying or too low to begin selling.
  • #57
  • Jun 29, 2008 11:15pm Jun 29, 2008 11:15pm
I am trying to wrap my brain around this whole time difference thing. I'm on EST using IBFX. I am GMT-4, and Mio is GMT+2, so a 6-hour difference. So how did you arrive at my needing to go back 2 hours and use 6 PM to 5:59 PM with IBFX? Sorry if I'm being dense here. Does his broker not use "pure GMT"?

Thanks,
Scott

Quoting billbss
Using the IBFX day candle might work, but it isn't the same thing Mio's doing.



He's using a broker that shows CET. IBFX uses pure GMT time.

If you use IBFX you need to end your day at 6PM EST. You can't use IBFX day candle to do that. It ends at 8PM EST.

You need to look at hourly charts and take the time from 2200GMT TO 21:59 GMT. That would match his day.

You can download an Alpari demo and use it's day candle.
Prices are never too high to begin buying or too low to begin selling.
  • #58
  • Jun 29, 2008 11:22pm Jun 29, 2008 11:22pm
lol another GBPJPY daily breakout system.... just like Nicotina and Daily95 and JR's 8 hour ... we need a new FF subsection just for all these systems that are essentially the same idea posted over and over and over and over........

Quoting mio
Here is my Excel File.

Fill only the daily high and low and excel will show you entrys with sl and tp.

Maybe we find an metatrader programmer that made an ea for this....

Mio
  • #59
  • Edited 11:50pm Jun 29, 2008 11:26pm | Edited 11:50pm
can you say.... drama king

Quoting robertsonakp
infact the word "daily" when people use it is disgusting, absurd and annoying whenever i hear it. it pierces my spirit , touches my veins. i just dont get well with people who especially say it to my hearing..
edit) after reading the thread title, i get the guy's drift... "daily pips" sux
  • #60
  • Jun 30, 2008 2:56am Jun 30, 2008 2:56am
Quoting mio
When one stop loss is done (mean -75 at this day) example with a sell,then place after a pending order sell(not long) on same entry like the before.
IN ca.80% is a profit trade on second entry.
Do you mean that when i am stopped in a particular trade, you dont allow the other pending trade which is on the opposite direction to trigger, you place a pending order in thesame direction you were stopped?

if this is what you mean could you please use numbers to give an example of how to place the second trade when stopped

and finally does this means that when one pending trade is triggered you remove the other pending order?
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