7am-9am Big Dog USD Breakout Strategy | Page 10 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

The Big Dog Trading Secret 272 replies

Moving Markets at 7am - 1pm PST? (3pm - 9pm GMT) 2 replies

Question about big dog strat... 2 replies

Trading The Big Dog Pack ..howllll 26 replies

Who are the champion DOG pickers??? 6 replies

Attachments: 7am-9am Big Dog USD Breakout Strategy
Exit Attachments

7am-9am Big Dog USD Breakout Strategy

  • #181
  • Sep 4, 2008 9:24am Sep 4, 2008 9:24am
Well, the original rule was opposite high or low. A 15 pip sl is nothing.

Quoting thehenryfam
Yes, I am initially trying a 15-pip TP and SL for a 1:1 risk-reward (30 pips for G/U). I have a feeling the higher you go, the less your winning % will be, but I could be wrong.

What are you using?

My E/U short trade just got triggered.

Scott
  • #182
  • Sep 4, 2008 9:26am Sep 4, 2008 9:26am
So what were you using on which pairs today, and was your SL hit yet?

Scott

Quoting BenQ
Well, the original rule was opposite high or low. A 15 pip sl is nothing.
Prices are never too high to begin buying or too low to begin selling.
  • #183
  • Sep 4, 2008 9:34am Sep 4, 2008 9:34am
Quoting sonicdeejay
Working well..with EJ...

Sonic
had a nice short with GBP/USD....

Sonic
Attached Image (click to enlarge)
Click to Enlarge Name: gb.PNG Size: 9 KB
  • #184
  • Sep 4, 2008 9:37am Sep 4, 2008 9:37am
Quoting BenQ
Well, the original rule was opposite high or low. A 15 pip sl is nothing.

The beauty of the system is the idea behind it...Not all the rules..U can change accordingly to make it profitable...Am I seeing an ex-Kantor??

sonic
  • #185
  • Sep 4, 2008 9:37am Sep 4, 2008 9:37am
My E/U trade is complete at +15, so a daily total of -60.

Using the opposite high/low for a SL, if you were triggered on these pairs (which I was), here are what today's losses would have been (approximately):

NZD/USD: -40
AUD/USD: -40
USD/CHF: -35
GBP/USD: -60

Total: -175

Like I said, you're going to need a really high winning % and much higher TP to make this profitable with those kinds of losses. The OP mentioned a TP of only 10 pips in one of his posts. You simply can't have such a small TP and use the opposite high/low for a stop. You would be broke in a month.

Scott
Prices are never too high to begin buying or too low to begin selling.
  • #186
  • Sep 4, 2008 9:39am Sep 4, 2008 9:39am
Those trades were hit so far today:
Usd/Chf Sell price at 1.1049,Stop Loss hit at 1.1101,-52 pips
Nzd/Usd Buy price at 0.6869, Stop Loss hit at 0.6833, -36 pips
Gbp/Usd Buy price at 1.7831, Stop Loss hit at 1.7770, -61 pips
Gbp/Usd Sell price at 1.7770, Take Profit 50 pips hit

Results - 99 pips total ( Ouchhhh)
Still have some open orders
  • #187
  • Sep 4, 2008 9:45am Sep 4, 2008 9:45am
Quoting thehenryfam
My E/U trade is complete at +15, so a daily total of -60.

Using the opposite high/low for a SL, if you were triggered on these pairs (which I was), here are what today's losses would have been (approximately):

NZD/USD: -40
AUD/USD: -40
USD/CHF: -35
GBP/USD: -60

Total: -175

Like I said, you're going to need a really high winning % and much higher TP to make this profitable with those kinds of losses. The OP mentioned a TP of only 10 pips in one of his posts. You simply can't have such a small TP and use the opposite high/low for a stop. You would be broke in a month.

Scott

in initially warned you guys against the news...


must you trade always???
  • #188
  • Sep 4, 2008 9:47am Sep 4, 2008 9:47am
Quoting trujillo1980
Hi CTGUY, can you tell us how is your expirence trading with this strategy?
%succefull trading. money management or other thing you can add to improve this wonderfull system.

BTW... Hello to everyone on this wonderfull forum, this is my first post here....
Hi there and welcome to the forum

Here is a current pic of the Big Dog System on the GBP/USD chart right now.

I actually trade this system looking for 10 pips ... but if the trade is moving nicely, I stay in it as I am doing now. When it hits 30 pips, I then use a 15 trailing stop. I do trade both sides if the trend reverses. I don't stay in the trade after 3 pm est.

This is one of two great systems I trade.

Good Luck
Attached Image (click to enlarge)
Click to Enlarge Name: Big Dog System.png Size: 32 KB
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #189
  • Sep 4, 2008 9:49am Sep 4, 2008 9:49am
Quoting CTGUY
Hi there and welcome to the forum

Here is a current pic of the Big Dog System on the GBP/USD chart right now.

I actually trade this system looking for 10 pips ... but if the trade is moving nicely, I stay in it as I am doing now. When it hits 30 pips, I then use a 15 trailing stop. I do trade both sides if the trend reverses. I don't stay in the trade after 3 pm est.

This is one of two great systems I trade.

Good Luck
Finally, the big dog master has spoken...


Sonic
  • #190
  • Sep 4, 2008 9:50am Sep 4, 2008 9:50am
Quoting sonicdeejay
had a nice short with GBP/USD....

Sonic
The GBP/USD was originally a long trade. So you got stopped out on the long then went short?
  • #191
  • Sep 4, 2008 9:50am Sep 4, 2008 9:50am
Quoting JokeR
Those trades were hit so far today:
Usd/Chf Sell price at 1.1049,Stop Loss hit at 1.1101,-52 pips
Nzd/Usd Buy price at 0.6869, Stop Loss hit at 0.6833, -36 pips
Gbp/Usd Buy price at 1.7831, Stop Loss hit at 1.7770, -61 pips
Gbp/Usd Sell price at 1.7770, Take Profit 50 pips hit

Results - 99 pips total ( Ouchhhh)
Still have some open orders
Just out of curiosity, what are your stop losses set so high?
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #192
  • Sep 4, 2008 9:52am Sep 4, 2008 9:52am
CTGUY, thanks for the insight. A few questions:

1) What other pairs, if any, are you trading? And have you incurred losses like the rest of us today?

2) What are you using for a stoploss? Surely it can't be the opposite high or low.

3) Are you placing your order at 9 AM ET or 9:15 AM ET? There seems to be some confusion about that.

Thanks,
Scott
Prices are never too high to begin buying or too low to begin selling.
  • #193
  • Sep 4, 2008 9:53am Sep 4, 2008 9:53am
Quoting n9com
looks like strategy did not hold strictly for gbp/usd today?

see attached image

The trade worked perfectly...as a short today
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #194
  • Sep 4, 2008 9:55am Sep 4, 2008 9:55am
Quoting thehenryfam
Results so far today:

AUD/USD: -15
NZD/USD: -15
USD/CHF: -15
GBP/USD: -30

Total: -75

I still have a EUR/USD that has not yet triggered.

Scott
Why did you stop trading? When the first breakout doesn't work and reverses, you take the opposite side when it breaks out as it did with the above pairs.
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #195
  • Sep 4, 2008 9:56am Sep 4, 2008 9:56am
You guys may want to add an offset (cushion) to your pending orders.

Pairs tend to test highs and lows and then may move the opposite direction, so putting your orders exactly at the high and low for the period you are marking as a breakout is a bit risky.

Use an offset of 5-10 pips. Would have turned your losing GBP/USD trades into a positive one today.

Also, you can see I use FIBs for targets. Pulling FIBs from the high to low in this case.
Attached Image (click to enlarge)
Click to Enlarge Name: md_gbp.usd_us_breakout.gif Size: 30 KB
- SAFE TRADING MONEY DUCK
  • #196
  • Sep 4, 2008 9:58am Sep 4, 2008 9:58am
Quoting thehenryfam
CTGUY, thanks for the insight. A few questions:

1) What other pairs, if any, are you trading? And have you incurred losses like the rest of us today?

2) What are you using for a stoploss? Surely it can't be the opposite high or low.

3) Are you placing your order at 9 AM ET or 9:15 AM ET? There seems to be some confusion about that.

Thanks,
Scott
I agree with henryfam question. Mr CTGuy, todat it looks like long trade there was some minor spike at the high of today cs between 7 to 9AM New York time. But you went short instead at the low of today cs.
Mind explaining the logic? and what is yout SL?
  • #197
  • Sep 4, 2008 9:59am Sep 4, 2008 9:59am
I set s/l @15 pips
t/p @20 pips
RESULTS:

USDCAD=+3 pips (tralling stop 15pips hit)
EURUSD=+20 pips
USDJYP=-15 pips
USDCHF=-15 pips
GBPUSD=-15 pips
TOTAL =-22 pips

Im a beginer trader, but what I learned today is that:
I should folow the inicial s/l, t/p rules
not enter any position at its low or high (I should enter 10 pips or the next bar that opens lower or higher than the last close.
  • #198
  • Sep 4, 2008 10:00am Sep 4, 2008 10:00am
Quoting Money Duck
You guys may want to add an offset (cushion) to your pending orders.

Pairs tend to test highs and lows and then may move the opposite direction, so putting your orders exactly at the high and low for the period you are marking as a breakout is a bit risky.

Use an offset of 5-10 pips. Would have turned your losing GBP/USD trades into a positive one today.

Also, you can see I use FIBs for targets. Pulling FIBs from the high to low in this case.
The original "cushion" is set to 3 pips. Maybe that is not enough!
  • #199
  • Sep 4, 2008 10:00am Sep 4, 2008 10:00am
Hi Guys,

Another great system. Thanks for sharing. My small input would be to trade this system only in the direction of the 4 hour trend. It has worked beautifully for me for many months. For example, today would have produced an excellent trade on the GBPUSD. TP +50 pips. Yesterday was a no trade day for me. Sept 2, no trade also. Booked +100 pips on Monday.

Trading with the trend will keep you out of many trades, but the trades that are triggered have a higher probability of success. Happy trading.

fxpilot
  • #200
  • Sep 4, 2008 10:05am Sep 4, 2008 10:05am
Quoting CTGUY
The trade worked perfectly...as a short today
yes it did, perhaps not take position until it has broke high/low by 5 pips or so?

I did not take long position as I normally wait for the next candle to form on the 1min graph which is above/below line drawn.
1 trader viewing now