Nomoretoxic's breakout | Page 18 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Another simple breakout system 32 replies

(False) Breakout & Trend Reversal Strategies?? 12 replies

My Asian Breakout trading Journal 54 replies

Nomoretoxic's Money Management 34 replies

Playing the Breakout Trade 4 replies

Attachments: Nomoretoxic's breakout
Exit Attachments

Nomoretoxic's breakout

  • #341
  • Sep 24, 2008 10:36pm Sep 24, 2008 10:36pm
Quoting Hwd
Why did you enter at 1.4627 and not somewhere around 1.4640. See chart.

This is what I had on the EU. I had a box low at 1100 GMT of 1.4644. With the 3 pip buffer the bottom of my box was 1.4641. I hope this helps. I use IBFX.
Attached Image (click to enlarge)
Click to Enlarge Name: 5 min chart.gif Size: 23 KB
  • #342
  • Sep 25, 2008 1:25am Sep 25, 2008 1:25am
Quoting iflyhigh72
This is what I had on the EU. I had a box low at 1100 GMT of 1.4644. With the 3 pip buffer the bottom of my box was 1.4641. I hope this helps. I use IBFX.
Don't get me wrong.

I KNOW the method really well. I was only wondering if you were doing the right thing. Remember time is between 11:00 and 13:00 GMT. You are actually showing 15:00 OR 16:00 GMT on your posted chart. If you use ibfx your low between 11 and 13 GMT should have been 1.4652 and not 1.4644. Look at the attached pic.

If you are trading a different time period then i guess that's a different method not Nomo's.

Just looking out for you man, good luck
Attached Image (click to enlarge)
Click to Enlarge Name: eur_usd.gif Size: 25 KB
  • #343
  • Sep 25, 2008 5:41am Sep 25, 2008 5:41am
Quoting Hwd
Don't get me wrong.

I KNOW the method really well. I was only wondering if you were doing the right thing. Remember time is between 11:00 and 13:00 GMT. You are actually showing 15:00 OR 16:00 GMT on your posted chart. If you use ibfx your low between 11 and 13 GMT should have been 1.4652 and not 1.4644. Look at the attached pic.

If you are trading a different time period then i guess that's a different method not Nomo's.

Just looking out for you man, good luck

aha. I see my mistake my friend. I used 1055-1300. That chart I included in my last post was just showing when the breakout candle occurred. If you look at that 1055 candle, you'll see my error. It had the low candle I used. Thanks for looking out for me. I appreciate it.
  • #344
  • Sep 25, 2008 5:46am Sep 25, 2008 5:46am
Great morning. Just got my 20 pips on GU London session. Entry short at

price 1.8568

tp 1.8548

sl 1.8598

Funny thing is I got up to get a drink of water and there was the set up clear as day. Breakout candle was at 930 GMT. Any one else make the trade. If so were your numbers similar to mine. Thanks.
  • #345
  • Sep 25, 2008 5:46am Sep 25, 2008 5:46am
Quoting bigjim1958
Hi Bull:
I notice that you use an indicator that has a 10 pip buffer on each side, while the one NOMO uses one that has a 5 pip buffer. Question for you or NOMO or anyone really. The size of the box is different, does it make much of a difference, and is your entry 3 pips above or below the box line no matter the size of the buffer? Thanks for all your help

Jim
Hi Jim,

You're right, in my chart the margin or buffer is 10 pips, this was my mistake, sorry for any confusion about that, I just set to 5, I think that the right way is follow the system by the original Nomo rules.

I'll attached some pictures for today, London and US session.

Thank you for show me my mistake.

Cheers

Bull
  • #346
  • Sep 25, 2008 5:51am Sep 25, 2008 5:51am
Hi nomoretoxic,

I am teaching myself to code and thought this would be a good project.

Please find attached an ea. I realise there is some discretion with the stop loss but I am using a fixed stoploss. I have allowed 5 pips above and below the box for the breakout and it sends an order 3 pips above or below the breakout candle. It will only allow one trade per day.

It might be handy for testing different times for the box as well as different take profit and stoploss scenarios. I have one of the inputs as candle time so you can nominate the timeframe if you want to try 15 minute bars instead which seemed to work quite well.
Attached File(s)
File Type: mq4 BreakOut v2.mq4   6 KB | 535 downloads
  • #347
  • Edited 7:11am Sep 25, 2008 5:56am | Edited 7:11am
short eur/usd 1.4695
sl 1.4735
tp 1.4665

+30

long usd/chf 1.0856
sl 1.0816
tp 1.0886

Was up +18 but didnt trigger tp, closed out at +0. US news out in 20 minutes.
  • #348
  • Sep 25, 2008 5:57am Sep 25, 2008 5:57am
Another good day in EU during London Session.

The Risk reward was to high (2:1) but was acceptable for me.

PS: NoMoreToxic I want to thank you again for share your strategy with all of us and for your support.
Attached Image (click to enlarge)
Click to Enlarge Name: gu925.gif Size: 15 KB
  • #349
  • Sep 25, 2008 6:02am Sep 25, 2008 6:02am
Good trading.....

I had the same trade on e/u

short 1.4692
sl 1.4731
tp 1.4662

+30


Quoting mappollo69
short eur/usd 1.4695
sl 1.4735
tp 1.4665

+30

long usd/chf 1.0856
sl 1.0816
tp 1.0886

ongoing.
  • #350
  • Sep 25, 2008 6:02am Sep 25, 2008 6:02am
Quoting mappollo69
short eur/usd 1.4695
sl 1.4735
tp 1.4665

+30

long usd/chf 1.0856
sl 1.0816
tp 1.0886

ongoing.
Hi mappollo69, It's nice to see that somebody else take this trade. Just let me asking something, do yo set your TP in +30 just for balance the RR or for any other reason??

Thank you in advance

Bull
  • #351
  • Sep 25, 2008 6:12am Sep 25, 2008 6:12am
Hi NOMO, just finished reading the thread and I love the simplicity of it. I've had 2 +20 trades today on eur/usd which is the only pair I trade. The first was the breakout of the Asian, BO candle was at 07:15 (London time, I think GMT -1) BO was only 3 pips above then pullback, entered at 08:30, small pb then full steam ahead.

Second was based on 10/12 consolodation period. BO at 12:30 small pb then down she went for another 20pips price has just pulled back from daily pivot.

I know my box is at diferent times than yours but my thinking is that this will work with any period of consolodation, if you disagree can you please explain why.
Thanks
Dan
  • #352
  • Sep 25, 2008 6:14am Sep 25, 2008 6:14am
Here's the chart for the second trade of Mappollo69 in USDCHF,
Attached Image (click to enlarge)
Click to Enlarge Name: uchf925.gif Size: 13 KB
  • #353
  • Sep 25, 2008 6:16am Sep 25, 2008 6:16am
Whenever you see a chart like this you must think on real time.

The idea is to keep your stop away from the fire as much as you can.

Remember this:

you're minimizing risk, not avoiding it.

Entry - 1.4691

original stop-loss - 1.4722

new stop-loss - 1.4732

exit - 1.4671.

Oanda's feed.
Attached Image (click to enlarge)
Click to Enlarge Name: 9-25-2008.gif Size: 21 KB
  • #354
  • Sep 25, 2008 6:19am Sep 25, 2008 6:19am
well, seems like we're in the same page today.


congratulations!!!
  • #355
  • Sep 25, 2008 6:19am Sep 25, 2008 6:19am
Quoting waltini1
Hi nomoretoxic,

I am teaching myself to code and thought this would be a good project.

Please find attached an ea. I realise there is some discretion with the stop loss but I am using a fixed stoploss. I have allowed 5 pips above and below the box for the breakout and it sends an order 3 pips above or below the breakout candle. It will only allow one trade per day.

It might be handy for testing different times for the box as well as different take profit and stoploss scenarios. I have one of the inputs as candle time so you can nominate the timeframe if you want to try 15 minute bars instead which seemed to work quite well.
thanks a lot! I'll try it.

cheers
  • #356
  • Sep 25, 2008 6:23am Sep 25, 2008 6:23am
Quoting dan921
Hi NOMO, just finished reading the thread and I love the simplicity of it. I've had 2 +20 trades today on eur/usd which is the only pair I trade. The first was the breakout of the Asian, BO candle was at 07:15 (London time, I think GMT -1) BO was only 3 pips above then pullback, entered at 08:30, small pb then full steam ahead.

Second was based on 10/12 consolodation period. BO at 12:30 small pb then down she went for another 20pips price has just pulled back from daily pivot.

I know my box is at diferent times than yours but my thinking is that this will work with any period of consolodation, if you disagree can you please explain why.
Thanks
Dan

Dan

The box will work at any consolidation period. I chose those times at London/NY after many years of trial and error. You're welcome to try any period you seem fit as long as you see a constant consolidation.
  • #357
  • Sep 25, 2008 6:32am Sep 25, 2008 6:32am
Here's why you should place your entry 2 -3 pips away from the breakout.

The idea is to minimize risk.

Cheers
Attached Image (click to enlarge)
Click to Enlarge Name: double bottom.gif Size: 20 KB
  • #358
  • Sep 25, 2008 6:42am Sep 25, 2008 6:42am
USDCHF may have run out of steam closed for +13. We'll see if I was right.

Long 1.0857
sl 1.0814
tp 1.0877

exited at 1.0870
  • #359
  • Sep 25, 2008 6:45am Sep 25, 2008 6:45am
Nice trade, i missed that one.....

Quoting iflyhigh72
Great morning. Just got my 20 pips on GU London session. Entry short at

price 1.8568

tp 1.8548

sl 1.8598

Funny thing is I got up to get a drink of water and there was the set up clear as day. Breakout candle was at 930 GMT. Any one else make the trade. If so were your numbers similar to mine. Thanks.
  • #360
  • Sep 25, 2008 7:17am Sep 25, 2008 7:17am
Quoting Bull
Hi mappollo69, It's nice to see that somebody else take this trade. Just let me asking something, do yo set your TP in +30 just for balance the RR or for any other reason??

Thank you in advance

Bull
I set it for +20 but saw room for growth so bumped it up.
0 traders viewing now