NY Break Out

Quoting paradoxical

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I, too, was very dissapointed that the thread was closed, but CTGUY must have figured he didn't need the hassle. The same thing happened on another thread I followed. Are you using the same time frame? (Draw vertical line 16:15 GTM time on your Chart.) Is this 16:00 on the Big Dog strategy? Still demoing the strategy, and really like the New York Box indicator that highlights the long and short areas, and gives three profit levels. This is different than your recommendations, and maybe the TP and SL you show could be incorporated into a similar indicator? Just so everyone knows, this system was originated using GBP only. It MAY work on other pairs. For that matter, it seems to. But, further testing needs to be done. Also, you're supposed to follow the trend. There are ways to determine the trend, which I'm sure will be a source of discussion as this thread progresses. Hopefully, the originator will visit from time to time?

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Quoting tazmaan

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Wonder if it would be wise to start off with some results for x months with the starting strategy, and improve from there?
Btw, your SL point #8, I assume you mean set the SL at the low of the previous bar (for longs) and the high of the previous bar (for shorts)?

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Quoting goldfinger D

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just want to be sure....initial post was talking about a period between 7h00am and 9h00am new york time for the up-down setup; but i saw many time that u guys are talking about tracing line between 14h00 and 16h00 gmt....correct guys...so it is not the same perid at all and not the same market action in term of volatility? thank you for coming me back on this!

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Quoting mlawren2

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Hi Guys,
It seems to me that the last thread closed not because people didnt like the system but, like me, they became increasingly frustrated with the confusion about the time to trade. Well it seems to me that we are going down the same route again. Looking at the chart in post 1 and putting the vertical bars in the same positions they are placed at 12.00gmt and14.00gmt. How do I work this out - I am in the UK, and we are on british summer time , which is GMT + 1 , the times on my personal chart are local times , the vertical lines are on 13.00 amd 15.00, so if we deduct 1 hour to get GMT we get 12.00 and 14.00 GMT.

The US pre trading starts at 12.00GMT and Wall St opens at 13.30 GMT.
So I think it needs to be decided exactly period the strategy is trying to capture.
Not being negative , just trying to get things going correctly

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Quoting glynnt

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Forget GMT, its to confusing. The time period is 7AM - 9AM EST. New York (EST) is currently 5 hours behind us in the UK therefore for the UK followers of this thread the vertical lines should be added at 12 midday and 2PM....hence your bang on.

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Quoting glynnt

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Forget GMT, its to confusing. The time period is 7AM - 9AM EST. New York (EST) is currently 5 hours behind us in the UK therefore for the UK followers of this thread the vertical lines should be added at 12 midday and 2PM....hence your bang on.

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Quoting mlawren2

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Hi Guys,
It seems to me that the last thread closed not because people didnt like the system but, like me, they became increasingly frustrated with the confusion about the time to trade. Well it seems to me that we are going down the same route again. Looking at the chart in post 1 and putting the vertical bars in the same positions they are placed at 12.00gmt and14.00gmt. How do I work this out - I am in the UK, and we are on british summer time , which is GMT + 1 , the times on my personal chart are local times , the vertical lines are on 13.00 amd 15.00, so if we deduct 1 hour to get GMT we get 12.00 and 14.00 GMT.

The US pre trading starts at 12.00GMT and Wall St opens at 13.30 GMT.
So I think it needs to be decided exactly period the strategy is trying to capture.
Not being negative , just trying to get things going correctly

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Quoting Ronald Raygun

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Well, it's nice to see you back together working away at this.

Generally speaking, breakout systems require large volumes at the breakout point. We really have no solid way to measure volume through our metatrader platforms...Or do we?

Attached is a tick chart indicator which I found awhile ago. The vertical green lines in the indicator show the opening of each bar. The farther apart the lines from each other, the more ticks in a bar, the higher the volume.

I realize it's a crude method, but frankly, it's the best one we have.

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Quote

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Why? Because the daily TIMING of the Big Dog System is specific for when the London Big Dogs are back from lunch and ready to roll up their sleeves for some serious trading, and the New York Big Dogs are rolling up their sleeves after having their morning coffee as they prepare to mount the "English Race Horse" and run with it.

Quoting Money Duck

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I am posting two pictures related to the close of your box. This may depend on your indicator. Since the last candle starts on the hour and closed just before 15 after the hour...if using an indy, you may want to set the time to 15 after or the last candle may not be included in calculating the high low.

1st image is the time set on the hour.
2nd image is the time set to 15 after the hour.

As you can see today, the last candle moved to make the LOW of the box. This happened on several pairs today I just happened to grab this one for the images.

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