7am-9am Big Dog USD Breakout Strategy

Quoting Newtron Bomb

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Hi Folks,

Firstly for good or abd this is a nice active thread which has helped people share idea's etc regarding a strategy development.

My first thoughts when I read the first post were that this was going to hurt a lot of peoples pockets and I still think that now.

What we need to consider at the moment as to why this strategy is having some really good success rates, which is that we are seeing a lot of intraday reversals which on some trades is making a killing, giving hope to many traders that it will CONTINUE to do so.

When its not working well ie when we see normal market conditions this strategy will not work so well.

I know this as this strategy has done the rounds in many slightly differnt forms over the years.

OK so before this turns into a rant about how much I hate this strategy... ooopps too late...

Anyway, I have been thinking baout this on and off for a long time now and I usualy keep my head down and focused on what I'm doing.

And in an effort to be constructive towards this method here are some things to consider to develop this further... I dont know if they have been covered already.

One of my main focuses is on an average days move over a 100 daily bars usually with an ATR indicator.

If you look back over the chart you will see more often than not under normal market conditions that once an average days move has been done price normally stops.

It might do slightly more or slightly less but usually it stops and chops.

Usually I'm thinking twice about a trade if the cross rate is into 65% of an average days move.

So here is a little rule to help you filter out some of the lower probability trades imo.

If >65% of 100 daily ATR done - no trade

Ideally if price still <40% of 100 daily ATR going into the US session (which I think is when this is applied) then there is 60% potenial left and provdes a higher potential trade.

this will obviously mean less trades setting up but restricts the trades to ones which have potential to move and give you a profit.

In the short term with the way the markets are at the moment you will miss some of those intraday reversals and >300 pip movements

BUT, this should help you towards making this into a LONG TERM strategy and not a short term lucky set up based on current volitility.

I dont trade this strategy nor do I intend to as I have my own strategies that I'm very happy with.

I hope you find this little tweak useful

Happy Trading

Phil

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Quoting dengzhi

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thanks for the tips..
yea i think that its ridiculous and misleading that there is a poll asking whether or not you think this system is profitable after just one lucky month..

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Quoting graeme_ie

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BMW - You offer no value in this forum. Boasting about some hypothetical EA you say you own is not what ethos of this forum is about.

Reminds me of the Pipboxer days when you and Al would defend each other on the Pipboxer EA's - made me sick, and we all know how S H I T those EA;s were..

You make my scin crawl

Good luck

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Quoting Konstas

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To Tdion and Ronald Raygan:

yeah, it seems like it's funny how ppl vote for a system when it's disscused only for 3 weeks. Although, as it was suggested - backtest it and you will see. This is what I did: Back tested it for 2 months on 5 pairs. then forward-tested on demo for a week. and last week traded it live: 4 pairs - 390 pips! (sl30, tp1 - 15, tp2-25 - if you want to know parameters).

Why do people even ask such questions?! just trade it live for $1 per pip, or if you are in doubts then 50c per pip, or if you are scared 20c - and then increase your pip value when you see results.

Good luck everyone!

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Quoting azjeff

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Hello Konstas,

Very nice results. Would you mind telling me what 4 pairs you are trading?

Regards,
Jeff

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Quoting Big Mike

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Hi all,

This is my first post in this great thread.

Let me start by saying thank you to CTGUY, dzmrd and Bull, to name a few.

It took me over 4 hours to read this thread. I would like to share my 2 cents on threads if I may:

- We have great talents and minds reunited in such threads. Some people just bash in and ask questions that were answered 200 posts ago. Please ignore them. (I will do some recommendations for the newbies and experienced traders). Newbies: Do your home work and read, read and read. Forex is a never ending reading experience. It's not an infomercial and become rich in 2 weeks (like the one on tv).
CTGUY would use analogies like the car on the highway (very good by the way), I will say: would you go see an accountant that graduated 25 years ago and never opened a book, newsletter or courses since then or, a 25 years experienced one that keeps updating himself every day ? READ THE WHOLE THREAD BEFORE ASKING QUESTIONS THAT ARE ALREADY IN HERE.

- Threads are not chats: don't just barge in, say something, leave and create chaos. That is just not ethical, unfare and plain stupid.

- If you are a newbie, do your homework like most do or did. Start with reading, reading and reading. Babypips is a start, anything your read is a start. But please, don't ask what are EMA's, MM or 1h, 4h....

- Experienced traders: You become a barbarian if you join the barbarians (Frazier and Niles Crane). Leave the off-topic questions alone, do not answer them, ignore them. Those people will vanish if they don't get the attention they strive and need.

- The Holy Grail does exist: it is not a system, strategy, indicator, pips or EA. It is YOUR MONEY MANAGEMENT. Just do the maths by increasing your account by 5% a day. (yes it can be done if you risk 5% per trade everyday and win, if you trade 2 pairs that would be 2.5% and 2.5% if at the same time). That will be your holy grail. And for some, 1k a week is heaven. For some it's an atrocious week. We all have our personal holy grails.

Conclusion: Give me 10 pips a day with this system, I will make it a holy grail for me. (By the way it has given much more) !

Thanks to some like thehenryfarm, we lost the input of a great mind/trader/person called CTGUY. Please CTGUY don't be a barbarian like this "person". Ignore the ignorants and share with the sharers. Wish them happiness instead, because they are not happy people and it returns to you 10fold in many ways.

I hope CTGUY returns and finds out that there are serious traders here making serious money and all this with the help of the few I mentioned at the beginning of this post... That is if you read it !!!

Welcome back CTGUY anytime.

Cheers to all and good trading.

Big Mike

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Quoting Ronald Raygun

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Here is an updated Generic Breakout EA. There are now limits on how many consecutive longs/shorts a signal can have.

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Quoting CTGUY

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Hi Big Mike... thanks for the kind words. I jumped back in to see how this thread is going. I noticed that this system has gained a lot of interest and many people are doing very well it.

I still trade this system manually and only on the GBP/USD pair which the system is intended for. I have noticed that some traders are disagreeing with their results of this system when they are trading pairs other than GBP/USD. Please traders, read the beginning of the thread, this system was intended for one currency pair only.

BMWBoyee has an excellent EA that I have been trading and producing excellent results. I wish to thank my old friend personally for taking the time and his own money to produce this EA that follows the rules of this system. I am pleased to have him as a my friend.

Traders, please read the first few pages if you don't understand the times to trade this system. The times are simple to understand. Use NY Time of 7am to 9am for the box.

For those traders that say that they are not making money using the system lately ... should look at the rules. The breakout box was designed to trade when the high to low was around 30-50 pips. The market has been moving in strange directions lately and exceeding the above pip range for the box. We are looking for big breakouts... which we can't achieve with this market.

Some traders are complaining that they are losing pips while trading... and apparently forgetting to use S/L's. If your more than minus 30 pips... then you need to consider using S/L's and not post your ridiculous high pip losses. This sounds like your pointing your finger at the system when you should be taking the blame for your own mistakes.

Please don't expand away from the rules and make this simple system complicated. Nimrod is doing an excellent job on this thread. I want to thank everyone that is supporting this system.

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Quoting Pipologist99

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CTGuy, how do you use the MA's to filter out good trades? Last friday, I got into two bad trades for 20 pips loss on each. Any help would be appreciated. Thanks.

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Quoting dengzhi

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hey RR,
in light of CTGUY's recent post, could you add a range filter? so we enter a max range like 100, and if the range for that day is over 100, then it will not take any trades at all.

thanks

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Quoting Ronald Raygun

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So...if during the range-finding period it's greater than a certain threshold, don't trade?

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Quoting MrChips

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Is This the EA for this system???

Generic Breakout Version 2.mq4

I love the NY Box that Bull made - I live in NY so it's perfect for me. An Ea that uses those parameters would be the best!!!

Would really appreciate it someone would do that if this in not it.Generic Breakout Version 2.mq4


Mr Chips

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Quoting Ronald Raygun

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I tried to design this so the box can be adjusted almost infinitely. So people can use the tokyo open, tokyo sesson, aussie open, london open, etc. I try not to code EAs which are very specific and instead are as flexible as possible.

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