A Basic Breakout System

Hi NowAndLater,

I´m not a programmer but was able to modify the indicator,
now it works for es and ym and many other indices.

Thank you very much!

Looks like cherry picking to me. You seem to pick the good trades at different time frames. I've seen 4hr, 8hr, Daily, and 1hr. It's quite confusing. I also notice you in other threads before. You show people neat systems with very thought out presentation and colors. And I understand that you also teach classes online for a fee? I've seen these tactics before...show newbies neat tricks and lure them into buying a course or subscribe to your service.

But i'll try your system and give it a chance. HAHA : )

I was not aware the effi was offering tutoring, I would be interested.
He is well respected on this and other forums, so sign me up effi and thanks for this system it has bagged me heaps of pips!

why the hell do people get infractions on this board more than any other board? This system is quite good. I'm impressed by it. I'm creating something similar and randomly stumbled on to this thread while looking for my buddy's thread. "Luck" is an illusion. Anyway...
I would like to speak with Effilang about using a different indicator for trend detection and also a different entry criteria based on historical support/resistance levels. I'm also using the 4hr chart.
Not to convolute things but I have a filter for breakaways that seems to be working.

Does anyone know where or how to contact Effilang?

Infractions are normally because the individual was trying to promote something when warned not to do so. As far as I know, infractions are like trying to sell something, redirecting one to some other site, posting illegal attachments [eg., non-free ebooks]. I see so many infractions on FF forum for some reason.... I believe its posted somewhere what not to do, but some just not listen.

I have seen Effi hang out at the forex4oobs web site in the chat room and he posts on the forum there too.

[quote=The Fxorce;2200655]why the hell do people get infractions on this board more than any other board? quote]

I miss the days when the forum was ran by Merlin. He was very instrumental and properly investigated any possibility of infractions. Merlin also knew the forex and was very helpful in this area too. Merlin and the old moderators are dearly missed.

[quote=CTGUY;2204136]
I hope Effi doesn't get discouraged by this. I believe he truly makes an effort in helping traders.

In my opinion, too much police and changes could affect forums like this. I personally got practically all of my friends here talking about it with a great sense of discouragement. Hope this site dont get into a bad rap. It happened before with other sites.

this my stategy I work in face 2 (in correcction ) but momentun is below 100 this sistem work for mi,

Very Simple and very Interesant.

hi Acer. are you ok.? dear i don,t have your indicators. if u can share them. thank u alot honey.

The system is definitely worth taking a look at. More so if you are a shorter term trader.

The full tutorial starts on the first page: HERE

thank you for your post. i had read the first post and i saved the indicator but it,s unknown. if you can send it with zip. thank you.+ i am just 16 years old and i,m not very professional in forex and i,m looking for a strategy that give me just 5 or 10 pips per day. i looked alot posts in many sites but i don,t find. so dears if u know a system like this or have some indicators that help me please share it i need yor help alot. ( excuse me that i posted this letter here. i know here isn,t good for these things but i don,t have anyone that help me.) thank you alot brothers.

Hello Everyone,

Just thought I would post as this thread has come back from the dead. I trade the BAT indicator live and have done for the last two years.

Last winter I traded GBPJPY on a 5 minute chart as shown in the attached pictures.

The thing I would say about this indicator is that my method of trading it was 100% mechanical and easy to follow but like everything else, it does well for spells then you give it all back. 2007 was a good year for this method but last year was marginally profitable at best.

I now trade the indicator on a daily and weekly timeframe to give me a directional bias on all pairs using bullish and bearish thrusts as a signal to enter. It actually works very well but requires more risk on the larger timeframes.

I will post some more pictures soon.

Cheers
Foggytrader

Here is a recent set-up in EURGBP on the daily timeframe. Just to show you how you can use the BAT indicator on a higher timeframe. I also attached the 5 minute Demark set-up which occurred at the entry point I chose although unfortunately I only noticed this after the event. It certainly gives you good levels which are respected, so you basically look for bearish thrust highs to be recaptured when the upper bat is broken and bullish thrust lows to be recaptured when the lower bat is broken. Then trade the retest whether that is a full entry with the higher risk or try to enter on a lower timeframe around that level.

Hope this helps

Cheers

Foggytrader

Here is a current set-up on the USDCAD Daily timeframe. It has failed at the upper bat level the last two times but we will see, the risk is less than 100 pips so not too bad.

Cheers

Foggytrader

This is the current situation on the weekly chart for GBPUSD, the trigger point was just missed last week, but the order will hold.

Cheers

Foggytrader

Hello, can I ask you what settings do u use for BAT indicator, thanks

It depends which TF or pair you use. For GBPJPY I use the following for diferent TF:

5 min: 6 & 4.5
30 min: 7 & 4.5
Daily: 5 & 7
Weekly: 6 & 5

I use it to give me a directional basis and I use fibonacci as targets. On the 5 minute and possibly up to the 30 minute (depending on you risk) you can use the 50% retracement level as a stop but on the daily and weekly they become to big which is why I started using the thrust bars as an entry confirmation signal when they agreed with the BAT.

Hope this helps!

Cheers

Foggytrader