7am-9am Big Dog USD Breakout Strategy | Page 21 | 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

  • #401
  • Sep 8, 2008 11:18am Sep 8, 2008 11:18am
Quoting RRothschild
I took a trade a 1.75799, but I didn't jump out of the trade let's see where it goes. Moved SL to b/e.

Closed out with 10 PIPs.

CTGUY what made you decide to close out at +40 versus holding the trade longer?
  • #402
  • Sep 8, 2008 11:21am Sep 8, 2008 11:21am
Hello,

What stop loss do we use for this strategy?

Thanks,
  • #403
  • Sep 8, 2008 11:24am Sep 8, 2008 11:24am
Quoting RRothschild
Closed out with 10 PIPs.

CTGUY what made you decide to close out at +40 versus holding the trade longer?
The trade in my opinion was about to slow down and I have a meeting to attend.
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #404
  • Sep 8, 2008 11:26am Sep 8, 2008 11:26am
CTGUY, how do you determine whether or not a trade is slowing down?

I generally pay attention to the market watch window and a rainbow tick chart. Do you do something similar?
  • #405
  • Sep 8, 2008 11:30am Sep 8, 2008 11:30am
Quoting Ronald Raygun
CTGUY, how do you determine whether or not a trade is slowing down?

I generally pay attention to the market watch window and a rainbow tick chart. Do you do something similar?
Dude, CTGUY has been on this strategy for much too long, its his experience that's making the right decisions
  • #406
  • Sep 8, 2008 12:08pm Sep 8, 2008 12:08pm
Quoting Ronald Raygun
CTGUY, how do you determine whether or not a trade is slowing down?

I generally pay attention to the market watch window and a rainbow tick chart. Do you do something similar?
Hey my friend...this is an easy answer. Look at the attached chart. The GBP/USD shows support where the previous low is circled. I expected the pair to slow down. I am sure it would eventually take off after a delay. I couldn't stick around due to a meeting.

Haven't chatted with you lately..sorry!
Attached Image (click to enlarge)
Click to Enlarge Name: Trade.png Size: 30 KB
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #407
  • Sep 8, 2008 12:10pm Sep 8, 2008 12:10pm
First time post on FF but have been observing for a long time. I do really see the importance of this "big dog theory" and do believe it will be profitable...however, there may have been some added volatility in the market today in the wake of the Freddie/Fannie bailout. With that said, I would like to post my results and see if what you guys think. BTW..I am trading a live account with Deutsche Bank, if that matters.

GBP/USD: I found my high at 1.7655 and low at 1.7584. Put in a long order at 1.7660 (5 pips over to ensure a move) @ 9.35 NY time Put a stop order at the low of 1.7584. I was stopped out at 10:35 NY time. Loss of 174 Pips.

My Short was kicked in at 11:50am at 1.7578. I put a stop at my entry. Stop loss was at 10. Made 10 Pips.

EUR/USD: Orders placed at high, 1.4239 and Low, 1.4185. Short Kicked in at 11:41 and I closed it out at 11:06. Made 40 Pips.

USD/JPY: Orders placed at high, 108.87 and low, 108.47. Short Kicked in at
10:35am @ 108.42 Put a stop on at entry. Closed out at 108.03. Made 39 Pips.

USD/CHF: Orders placed at high 113.03 and low, 1.1267. The stop sell was triggered at 10:17am @ 1.1262 (slippage was credited by DB afterwards). Placed stopped at high and stopped out 11:57. LOSS 49 PIPS.

My long was kicked in at 1.1305 and up 15 pips currently.

I cant say I am happy today, but I do believe this system works. I think for me I will be placing tighter stops on my intial order instead of stopping on the high or low.

Good luck to all and any feedback on my trades would be appreciated.
  • #408
  • Sep 8, 2008 12:23pm Sep 8, 2008 12:23pm
My analysis of the chart shows

GBP/US$ dropped due to slippage in oil price today
Euro/US$ dropped due to slippage in oil price
US$/CHF high due to drop in gold today

I think we also have to see the big picture on commodites like gold
oil

Some one has suggested to check the candle 3 or 4 for stop buy and stop sell
  • #409
  • Edited 1:13pm Sep 8, 2008 12:33pm | Edited 1:13pm
Quoting bigdolph
First time post on FF but have been observing for a long time. I do really see the importance of this "big dog theory" and do believe it will be profitable. Actually, the system is proven to be profitable many times over.

GBP/USD: I found my high at 1.7655 and low at 1.7584. Put in a long order at 1.7660 (5 pips over to ensure a move) @ 9.35 NY time Put a stop order at the low of 1.7584. I was stopped out at 10:35 NY time. Loss of 174 Pips. I have absolutely no idea how you lost 174 pips. If you used 5 pips over the breakout.. this technically means that your not using the Big Dog System and you started using your own system since you deviated from the posted system rules.
Traders, if you deviate from the rules, you are no longer using the Big Dog System, you are using your own system.

If you purchased a new car, removed the engine and modified it, reinstalled it and found that it doesn't work, are you going to blame the manufacturer? The system as written works in the majority of the trades, you can't modify it and then blame the system for not working.

One mistake you made was to go against the 1h and 4h trend as per instructions. Doing so caused your loss. Sorry, but point the finger at yourself and not at my system.
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #410
  • Sep 8, 2008 12:43pm Sep 8, 2008 12:43pm
CTGUY,

I am may not fully understand the system and thus I was reaching out to find out what I did wrong, if anything. I guess at this point I am not sure about the stop loss location.

Also, what do you mean by 1 hour and 4 hour? I understand what it is, ofcourse, but didn't read about it in the intial post in this thread...so I didn't know it was instrumental in this particular theory.

Thank you for your reply.
  • #411
  • Sep 8, 2008 12:50pm Sep 8, 2008 12:50pm
I made a typo...I lost 87 pips on the GBP/USD Long trade. Not 178. My fault.
  • #412
  • Sep 8, 2008 1:12pm Sep 8, 2008 1:12pm
Quoting bigdolph
CTGUY,

I am may not fully understand the system and thus I was reaching out to find out what I did wrong, if anything. I guess at this point I am not sure about the stop loss location.

Also, what do you mean by 1 hour and 4 hour? I understand what it is, ofcourse, but didn't read about it in the intial post in this thread...so I didn't know it was instrumental in this particular theory.

Thank you for your reply.
Hey there.. one thing is a given.. the trend is your friend. I like taking trades that agree with the direction of the 1h and 4h charts. Now the stop loss is one that is chosen by the trader. No set rules there since 10 traders will exit 10 different ways. If you use the EMA's that were posted earlier today, you can use them for trend direction. The red EMA's are long term. The more separated they are and the angle they are headed in gives you heads up on the trend.

Good Luck
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #413
  • Sep 8, 2008 1:14pm Sep 8, 2008 1:14pm
CTGUY:
The more separated they are from each other, or separation between yellow and red?
  • #414
  • Sep 8, 2008 1:30pm Sep 8, 2008 1:30pm
Quoting bigdolph
I made a typo...I lost 87 pips on the GBP/USD Long trade. Not 178. My fault.

Sorry to hear that, i did not take cable in to consideration as the range was 70pips 40to55 or max 60pips range will do good. i made 15pips each on usd cad, euro usd, usd jpy, and usd nzd. I could have taken more than this profit but this was my first day trading this system.

If you see very first post it does say range should not more than 50 to 60pips.

Very confusing posts since this system has been introduced at forum [ thanks to dznmrd who put it online this system ] there has been many modification about time or sessions.

Traders using it in to different sessions and different time scales which is really confusing.

It was much better if this system was left as it is and any amendment other than improving changes [ like we would be better if we check one hour or four hour candle before taking positions] should come in to new thread.

I am attached to thread since start but some time i lost reading different timings and settings.

This is really good system.
member
  • #415
  • Sep 8, 2008 1:31pm Sep 8, 2008 1:31pm
If using the 'trade with the trend' addition, looks like today, EU, GU, UCHF, UCAD, AU, and UJ would all be big winners todays, and still going.
  • #416
  • Sep 8, 2008 1:35pm Sep 8, 2008 1:35pm
The only addition was the addition of 'with the trend only', the rest of the discussion was just noise for the time being. Times, and methods are the same, just the addition of going with the trend was made, which from what I can see should have been there from the first post (as the real author of this system has this as a rule).

JHMO of course
  • #417
  • Sep 8, 2008 1:39pm Sep 8, 2008 1:39pm
Yes I have to agree. A system has hard and fast rules. Any discretionary trades (or not trading) gives false results.
Today's cable long should mean a loss for everybody, not just those who follow the sytem but don't trade discretionary.
Also there is another little spanner in the works - any pending order (or EA) for a long trade would trigger at the wrong price because of spread. So today's entry of 1.7658 would actually be filled at 1.7655. This means you have to add spread to the long entry in order to trade at the previous high.
Short trades are not affected of course.
Mike4x.
  • #418
  • Sep 8, 2008 1:44pm Sep 8, 2008 1:44pm
Quoting tazmaan
CTGUY:
The more separated they are from each other, or separation between yellow and red?
Here is a chart that gives an explanation on how the EMA's can assist your trades. I don't trade against them.

There will be many trades that will go through corrections and go against the trends. The majority of the successful trades are those that go with the trend.
Attached Image (click to enlarge)
Click to Enlarge Name: Example.png Size: 61 KB
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #419
  • Sep 8, 2008 1:48pm Sep 8, 2008 1:48pm
Quoting tazmaan
The only addition was the addition of 'with the trend only', the rest of the discussion was just noise for the time being. Times, and methods are the same, just the addition of going with the trend was made, which from what I can see should have been there from the first post (as the real author of this system has this as a rule).

JHMO of course
If you have any questions, just let me know. Traders that join in and submit their ideas are not taken as changes to this system.
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #420
  • Sep 8, 2008 1:53pm Sep 8, 2008 1:53pm
Quoting mike4x
Yes I have to agree. A system has hard and fast rules. Any discretionary trades (or not trading) gives false results.
Today's cable long should mean a loss for everybody, not just those who follow the sytem but don't trade discretionary.
Also there is another little spanner in the works - any pending order (or EA) for a long trade would trigger at the wrong price because of spread. So today's entry of 1.7658 would actually be filled at 1.7655. This means you have to add spread to the long entry in order to trade at the previous high.
Short trades are not affected of course.
Mike4x.
Anyone that traded this as a long would be trading against the written rules unfortunately. The system was an obvious pending short.
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
0 traders viewing now