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NY Break Out

  • #41
  • Sep 10, 2008 9:51am Sep 10, 2008 9:51am
Quoting mike4x
Looks like today Will be a 10 or 15 pip profit grab with the range being 72 pips and a slow moving market.
Mike.
Do you think it will produce 10 - 15 pips today? Looks awfully slow!
  • #42
  • Edited 9:58am Sep 10, 2008 9:54am | Edited 9:58am
E/U - Short

SL 45 pips, TP1 45 pips, TP2 90 pips.

RR = 1:2

G/U - Short

SL 40 pips, TP1 40 pips, TP2 80 pips

RR = 1:2

  • #43
  • Edited 11:20am Sep 10, 2008 9:58am | Edited 11:20am
Quoting glynnt
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.
For anyone still confuse about the time issue just simply compare your chart with one posted on post 1 of this thread and try to know the Time and simply follow it.
  • #44
  • Sep 10, 2008 9:58am Sep 10, 2008 9:58am
Yeah am in as well, and have a 25 TS, so we'll see how that turns out too. Edit: trade closed, +5 ticks
  • #45
  • Sep 10, 2008 10:11am Sep 10, 2008 10:11am
Hi,

I use Oanda for trading. All of the boxes are more than 60 pips high except for N/U @ 59, and U/Cad @ 51. So...no trades today for me. Is anyone trading ANY pairs, today?

Bigger question: Are we trading ONLY the cable (G/U) as some have surmised? CTGUY was only trading G/U at the time of the posts, but that was because he was involved with another trading strategy that had multiple trades, so he didn't want to confuse things. I don't believe it was disclosed how many pairs he was trading, otherwise. Dznmrd, on the other hand, who started the original thread, was trading E/U, G/U, A/U, N/U, U/Chf and U/Cad. He specifically warned against U/J.

What's the consensus?

Thanks, guys...let's keep this thread flourishing!
  • #46
  • Sep 10, 2008 10:14am Sep 10, 2008 10:14am
I am trading EU and UsdChf this morning, but am also monitoring: GbpUsd UsdChf UsdCad AudUsd UsdJpy EurJpy I know what was said about UJ, but last two days were nice winners there, so I am keeping an eye on it.
  • #47
  • Sep 10, 2008 10:38am Sep 10, 2008 10:38am
Update

Quoting guess121

E/U - Short - CLOSED

SL 45 pips, TP1 45 pips - HIT AND CLOSED

RR = 1:2 1:1

G/U - Short - OPEN

SL 40 pips, TP1 40 pips, TP2 80 pips

RR = 1:2

  • #48
  • Sep 10, 2008 10:41am Sep 10, 2008 10:41am
Long U/J

See on this one you could go at least 1:3 R:R, but I am going for 1:1

SL 24 pips
TP 24 pips

Regards,
Vip
  • #49
  • Sep 10, 2008 10:44am Sep 10, 2008 10:44am
My live eu where I set the 25 TS ended up with +5 pips Had a demo with the same EU, but at +70 ticks, I moved stop to BE and added 25 TS and ended +81 ticks Results can vary immensely depending on your exit strategy.
  • #50
  • Sep 10, 2008 10:51am Sep 10, 2008 10:51am
Yes Taz man, you are correct...

Everyone has different ideas and it is good to see how we all do, this is great... we can evaluate our trades and see what and why we done this.

Demo and live is surely different!

Good trading!

Regards,
Vip

Quoting tazmaan
My live eu where I set the 25 TS ended up with +5 pips Had a demo with the same EU, but at +70 ticks, I moved stop to BE and added 25 TS and ended +81 ticks Results can vary immensely depending on your exit strategy.
  • #51
  • Sep 10, 2008 10:52am Sep 10, 2008 10:52am
Nice breakout on usdcad again today as well
Attached Image (click to enlarge)
Click to Enlarge Name: 0910-usdcad.gif Size: 28 KB
  • #52
  • Sep 10, 2008 11:34am Sep 10, 2008 11:34am
Quoting guess121
Update
Hi guess, How many currency pairs do u trade? if many,what are the criteria in choosing the one to trade on? Thanks Nerry.
  • #53
  • Sep 10, 2008 11:49am Sep 10, 2008 11:49am
Here's another simple to use Breakout Indicator. One is able to change colors and times quickly and easily. It's been around for sometime now, didn't realize that I still had it. Kudos and thanks to the traders who devised it:
Attached File(s)
File Type: mq4 BreakOut_PANCA_EAGLE__indicator.mq4   7 KB | 677 downloads
File Type: tpl picturebrkoutindi.tpl   59 KB | 558 downloads
  • #54
  • Sep 10, 2008 11:52am Sep 10, 2008 11:52am
Quoting Rialto
Here's another simple to use Breakout Indicator. One is able to change colors and times quickly and easily. It's been around for sometime now, didn't realize that I still had it. Kudos and thanks to the traders who devised it:
Thanks for posting it Rialto. Someone had asked earlier today which indy I was using. This one is it. It has an OFFSET (CUSHION) feature on it.
- SAFE TRADING MONEY DUCK
  • #55
  • Sep 10, 2008 11:54am Sep 10, 2008 11:54am
Your very welcome. Yes, I really like this one the best.
  • #56
  • Sep 10, 2008 12:19pm Sep 10, 2008 12:19pm
Ah well, we met stubborn resistence on cable at +7 pips today. I had a 40 pip loss in the end.
Euro fared much better though I never traded it.
Any other pairs make a profit today?
Mike.
  • #57
  • Sep 10, 2008 12:28pm Sep 10, 2008 12:28pm
Quoting Ronald Raygun
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.
is it possible to have the indicator simply display the number of ticks, instead of doing the verticle line in the direction of the tick? Its cool to see the direction of the ticks, but whats also important is to quickly check the number of ticks in that bar and to have it numericaly displayed would be intersting.
  • #58
  • Sep 10, 2008 12:31pm Sep 10, 2008 12:31pm
Quoting RaverStyleTim2
is it possible to have the indicator simply display the number of ticks, instead of doing the verticle line in the direction of the tick? Its cool to see the direction of the ticks, but whats also important is to quickly check the number of ticks in that bar and to have it numericaly displayed would be intersting.
It's quite possible, except I'm not sure how to code that into an indicator.

Magnumfreak, are you here?
  • #59
  • Sep 10, 2008 1:15pm Sep 10, 2008 1:15pm
Quoting mike4x
Ah well, we met stubborn resistence on cable at +7 pips today. I had a 40 pip loss in the end.
Euro fared much better though I never traded it.
Any other pairs make a profit today?
Mike.
USDCAD, USDCHF, USDJPY I believe were all pretty decent
  • #60
  • Sep 10, 2008 1:52pm Sep 10, 2008 1:52pm
Hello,

Here is my template....thanks to Bull and his (nybox indi). I made some simple changes to keep my chart as simple as possible. I also place a fib retracement that helps me visually in case that I want to use the 50 as my stoploss. The yellow candles are inside candles/bars.

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 32 KB
Attached File(s)
File Type: tpl 1new york box.tpl   13 KB | 629 downloads
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