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Nomoretoxic's breakout

  • #101
  • Sep 17, 2008 3:32pm Sep 17, 2008 3:32pm
thank you zznbrm!

I see now about the close of the candle.

Sorry for the dumb question, but could someone please tell me what an offset is?

alex
  • #102
  • Sep 17, 2008 3:53pm Sep 17, 2008 3:53pm
Guys

sorry for my late reply. I had a much needed rest

About the trade this morning, I did got 20 pips. Actually the market went down 21 pips before reversing. I am using OANDA for execution and there's difference on price. I notice on Admiral Markets and Interbank that the market didn't quite reach 20 pips

Anyway if you got stopped out, as I said before , look at the other side of the box

here's some charts to prove it


I apologize if there's any misunderstanding

cheers
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  • #103
  • Sep 17, 2008 3:58pm Sep 17, 2008 3:58pm
Quoting bigdolph
I use this strategy in conjunction with the "7am-9am Big Dog Method". Mainly NOMORETOXIC's pullback method is needed and has proved valuable to me already..... Also, like simplifying this FOREX game. Makes it easier to trade, sometimes anyway. Here were my results today:

AUD/USD +40
USD/CHF -10 (stopped out, but should have applied another entry order..would have made alot of Pips)
EUR/USD +40
USD/JPY -20 (Got burned on the pullback at 14:45..should've had another entry order and would have made some nice pips)

+50 for the Day.

My Question for NoMoreToxic is...in the case of USD/JPY and USD/CHF...should I or do you apply another entry order for your top and bottom lines?

Good Things

I don't like USD/JPY at least for the box.

As for USD/CHF I am not interested on this pair at all. Not because is bad for trading or anything, it's just an habit

But I do think that the swissy is an excellent pair.

About applying another entry order, my suggestion is to stick to your system. My success in trading is to stay truthful to my system and don't change it no matter what.

I am always happy to help

Cheers
  • #104
  • Sep 17, 2008 4:01pm Sep 17, 2008 4:01pm
Ok

about the box settings

The only thing I change is the time.

that's it

I don't mess around with offsets or anything like that
  • #105
  • Sep 17, 2008 4:25pm Sep 17, 2008 4:25pm
hi nomo

zznbrm straightened me out on the fact that the breakout candle must actually close outside of the box (?)

but what about the entry candle, do you wait for it to close too?

thanks again

alex
  • #106
  • Sep 17, 2008 5:34pm Sep 17, 2008 5:34pm
Quoting pipping
hi nomo

zznbrm straightened me out on the fact that the breakout candle must actually close outside of the box (?)

but what about the entry candle, do you wait for it to close too?

thanks again

alex

no, once I see a pullback materialized I place my limits.
  • #107
  • Sep 17, 2008 5:51pm Sep 17, 2008 5:51pm
nomo,

you are one patient guy. bless you.

meanwhile, my husband wants to know if this can be traded on the Asian session?


alex
  • #108
  • Sep 17, 2008 6:14pm Sep 17, 2008 6:14pm
Quoting pipping
nomo,

you are one patient guy. bless you.

meanwhile, my husband wants to know if this can be traded on the Asian session?


alex
well, Asia session is somehow slow.

You could try it to see if it works. I never care about that session , but who knows??? maybe your husband could get something out of it.


let us know


no problem, happy to help...thanks
  • #109
  • Sep 17, 2008 7:35pm Sep 17, 2008 7:35pm
here is one night for what it's worth

20 pips!

alex
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  • #110
  • Sep 17, 2008 7:45pm Sep 17, 2008 7:45pm
Quoting pipping
here is one night for what it's worth

20 pips!

alex
Hmmmm, that is interesting. Something to forward test, for sure.
  • #111
  • Sep 17, 2008 8:13pm Sep 17, 2008 8:13pm
Quoting pipping
here is one night for what it's worth

20 pips!

alex
there you go Alex

experiment....all the way
  • #112
  • Sep 17, 2008 8:31pm Sep 17, 2008 8:31pm
Quoting bigdolph
I use this strategy in conjunction with the "7am-9am Big Dog Method". Mainly NOMORETOXIC's pullback method is needed and has proved valuable to me already..... Also, like simplifying this FOREX game. Makes it easier to trade, sometimes anyway. Here were my results today:

AUD/USD +40
USD/CHF -10 (stopped out, but should have applied another entry order..would have made alot of Pips)
EUR/USD +40
USD/JPY -20 (Got burned on the pullback at 14:45..should've had another entry order and would have made some nice pips)

+50 for the Day.

My Question for NoMoreToxic is...in the case of USD/JPY and USD/CHF...should I or do you apply another entry order for your top and bottom lines?

Good Things
So you entered to the upside later on in the day for the EUR/USD?
Anyone who entered to the downside earlier in the morning had to get stopped out, unless they only wanted like 10 pips.

I suppose u entered the AUD/USD on the Big Dog method (straight breakout, no pulling back).
  • #113
  • Sep 17, 2008 8:45pm Sep 17, 2008 8:45pm
Quoting nomoretoxic
Ok

about the box settings

The only thing I change is the time.

that's it

I don't mess around with offsets or anything like that
Hi nomo

Changing the time can make lots of different in the trading results.

Did you change the time just on the indicator to match your trading strategy?

or

Did you change time on your strategy depending on some observation?

Need to clarify.
Jeff Ng
  • #114
  • Sep 18, 2008 3:09am Sep 18, 2008 3:09am
Hi Guys,

For those interested in the Asian search for "AHAL" in this forum and google for other forums. Same principle applies.

However don't get too involved with it.

Anyway if you want a similar indicator to the ones here, see this post:

http://www.forexfactory.com/showthread.php?t=80175

herty
  • #115
  • Sep 18, 2008 3:19am Sep 18, 2008 3:19am
Quoting jeffng
Hi nomo

Changing the time can make lots of different in the trading results.

Did you change the time just on the indicator to match your trading strategy?

or

Did you change time on your strategy depending on some observation?

Need to clarify.
Jeff Ng


I change the indicator based on what session I am looking to trade. Mostly NY and London.
  • #116
  • Sep 18, 2008 3:29am Sep 18, 2008 3:29am
Did you have any statistics of this system? Have you done any backtest? I just wanna know how profitable is so far. If you have any info about this please share.

Thanks
  • #117
  • Sep 18, 2008 4:09am Sep 18, 2008 4:09am
Quoting dachelm
Did you have any statistics of this system? Have you done any backtest? I just wanna know how profitable is so far. If you have any info about this please share.

Thanks
Backtesting is one of the most useless thing I ever see in my life, and I tell you, I have seen many!!! In order to explain why we'll need another thread.

But we can still talk profitability here.

Since I got my eyes opened to price action, I have never had a losing month..period. Some months I make more, some less..

I pay myself monthly. Measuring a system everyday is a huge mistake.

The box is just one(visual) way to see price action.

The box won't make any money for you, just how you interpret price action (pullback and follow-thru) once the market reach either side.

The box has some simple rules I outlined at the first post of this thread

Very simple rules to follow. Will you win every trade? Unfortunately no.

Will you be profitable in a reasonable period of time?, I have

But I stick to my rules, all the time, no matter what

that's the secret

cheers
  • #118
  • Sep 18, 2008 7:09am Sep 18, 2008 7:09am
nomoretoxic

below is my trade from this morning. Please let me know if I'm executing the strategy correctly and if you took this trade too.

Thanks in advance.....

RR-
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  • #119
  • Sep 18, 2008 7:37am Sep 18, 2008 7:37am
This is what I have for London Session - GPB/USD

Just bear in mind that I execute my trades with Oanda

The price feed does differ

hope it helps
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  • #120
  • Sep 18, 2008 7:41am Sep 18, 2008 7:41am
EUR/USD 9-18-2008

Self-explanatory
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