7am-9am Big Dog USD Breakout Strategy

Hey, you as a "EAprogrammer" it should be a pice of cake to code this
for back and forward-testing ?
I know one guy had it done but it was never shared as far as I know.

lots of pips

PP

Hi all,

I have a couple of request before this. It is quite simple, and result in quite easy to implement. Stay tune as I will put my share into this thread.

Once I finish my work and go home, I will work on it.

Does anybody have graph or statment of this strategy?
The surveys show this stategy is profitable .

this good stategy...but today is not work good...

Hi EAProgrammer,
Looking forward to your expert.
If you get time could you include an option to close half at a first take profit level, then have another take profit at a further level?
Many thanks.

Lost 90 pips on GBPUSD

heh, yeah. I lost today too. Though only in a practice account. Lucky thing too since I made some pretty stupid decisions that cost me a lot of my play money. Emotion trading needs to be worked on before I go live it would seem. =]

Di not trade Tuesday, spreads were too hi (max 50-60), it was at 80ish on cable.
Patience, Discipline, Money Management.

Cheers,
Big Mike

8:40h EDT, Wednesday, eur already 84 pips spreads and 4h reversing north, 60 on cable and same as eur on 4h reversing north, swissie 57 and a beautifull bearish heading south in synch with opposite correlation of eur and cable on 4h, UJ 47 and heading north on 4h.
Let's see what develops.

Cheers,

Big Mike

Today was a nice clean breakout for GBPUSD

Is the thread dead already ?

Cheers,

Big Mike

Sorry, my pc got fxxxxd up, I just went thru 3 days of hell upgrading to windows vista and later discovered compatibility issues, driver issues and later the pc would hung 8 times a day, then back to downgrading to windows xp and reinstalling the 100 of softwares.

Im finally back.

Ok dzm, thanks !

Hi

First of all, I would like to thanks dznmrd and other senior traders for posting such a potential good break out system with comments and etc.

For me as a newB trader, i have to do my home work. I went back approximately 3 months ago to paper trade and analyze the system. I took EUR/USD for analysis.

What i have realized from the 3months of 15min charts, when the candle break through the 7am~9am channel most likely it will not bounce back to the other side of the channel. If it does consider the trade as losing trade and forget about it as most like it will continue to bounce up and down. In fact i came to a conclusion that the stop lost doesn't have to be the high and low of the 7am~9am (EST) channel. I think a stop lost of 1/2 or 2/3 of the difference between high and low is sufficient. If the difference between the high low is less than 50 i suggest a the stop loss to be on the other end. 50~90 stop lost is 2/3 and anything more than 90 is 1/2. "Would appreciate your valuable comments and observation" Sometime when the channel break through, it never turn back but to be on the safe side we still implement some stop lost to safeguard our capital for the future.

For example if the difference between high and low is 100 pips, a stop lost of 50 or 67 or 70 is more than sufficient.

In addition to the stop loss, i will continue to adjust the stop lost from time to time so as to minimize losses if required or even move my stop lost o break even. I am not quite sure about trailing stop. As i think trailing stop of 15pips is not enough. For those who use trailing stop please comment. Please refer to the chart EUR/USD.

This conclude part 1 of the comment. I would appreciate your valuable comments and we hope everyone can play their parts in making this system works. Please pardon my writing as i am no expert in forex trading, i use simple forex terms.

As big mike is worry that the tread is dying, we will bring the tread to live. I have only done the analysis for EUR/USD. Please feel free to carryout analysis for other pairs such as USD/CHF, GBP/USD, USD/JPY. The analysis is really simple but time consuming as you have to do it manually. Just pull out few months of the history record it in paper. Like the difference between high, low (the channel) and etc.

Regards
Jimmypippy

Hi dznmrd

I hope you don't mind me posting the comments. But all the credits still goes to you and the senior.

Thanks for your patience especially the experts who are willing to browse through my comments.

Btw, the 2nd comment is for the time to enter trade. As according the Dzm in the first trade, "Simply put a buy stop at the high and sell stop at the low with stoploss at the low (If your buying) and stoploss at the high (If your selling)" What is your suggestion? Please refer to the first chart 15min. You will see false break out. (Please ignore the fact that the chart is taken on Friday, as some of you may not trade on Friday. This is really meant for discussion purposes)

As some of you may suggest to use 5pips+spread or so on. You are welcome to comment.

For my suggestion, pull out 5min chart. Wait for the first candle to break through the channel. Observe the 2nd candle; If the 2nd candle closes above the open. Place a stop buy below the 2nd candle. If the 2nd candle close below the open, enter trade straight away. (Please refer to chart no2)

Similarly for uptrend break through, place a stop buy above the 2nd candle if the 2nd candle close below open.

This conclude my 2nd comment about the big dog strategy. As the first comment i have only carry my analysis using EUR/USD. For those who would like to constribute please check other pairs. We can propably asign the jobs to different individuals.

Please feel free to give your comment. Comment will help everyone in this tread especially newb like me improve and make this a happy pipping strategy.

Regards
Jimmypippy

I'd definitely like to see an EA for backtesting purposes and test out different TP and SL options.

Guyz,

I know i shared this method, but please there's no "Holy Grail" in forex and this system is definitely not a holy grail system.

I can only say that its a crude method of detecting a breakout and trend 1hour before n after the US open session.

The recommended pair is gbpusd, but it can work on majors and a few cross pairs too.

The only grail is your moneymanagement, so please dont get too overexcited about this strategy.

There are 100 types of breakout strategy, like other session's breakout, chart pattern breakouts ect, The big dog breakout is just one of them that has a higher success ratio.

But let me warn u, any kind of breakout system wont work like clockwork, There are phases of the market when its in consolidation,

you also need to look at other technical indicators, fundamentals ect. To determine if the breakout is going to happen and if it will trend.

Good luck 2 all.

I guess you nailed it right there: higher success ratio. I suspect high probability combined to money management is the key to making something out of Forex or any other market for that matter.

Are you guys still trying to figure out trends before entering positions?

In that case, anyone gets good performance lately?

My belief is that when you forget about trends, things will be better, the reason is simple, every breakout is 50vs50 a fake vs real.


Just a reminder, u try and u know.

Hi

break out for EUR/USD
Bought 2 lot at 1.4388 close at 14420 and 14428 (close due to trailing stop).
(72pips)

Break Out for USD/CHF
Bought 2 lot at 1.0992 close at 1.1033 and 1.0974(close due to trailing stop).
(59pips)

Anyone pipping pips?

Regards
Jimmypippy