Menu
Sister Sites

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

Another simple breakout system 30 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

Quoting Cmartin371
Just set the box to end at 8:59 if you so desire. I did that for the Asian session just because of the way price has been firing out of the box as Asia opens.
Ok Thanks Nomo and Cmartin.
I am looking for the best session times.

New-York session : 7-9 am EST = 11am-12:59am GMT
London session : 1-3 am EST = 5-6:59 am GMT
Asian session : 7-9 pm EST = 11pm - 00:59am GMT

Are you ok with me?
Thank you!
Dear Nomo and Thread,

Can people share alternative ways to exiting these BKO trades other than a straight 20 pips? Though it seems to me that there there is much money being left on the table, I do not want to expect from the method more than it can deliver.

Thanks,

Lenoxer
Quoting Lenoxer
Dear Nomo and Thread,

Can people share alternative ways to exiting these BKO trades other than a straight 20 pips? Though it seems to me that there there is much money being left on the table, I do not want to expect from the method more than it can deliver.

Thanks,

Lenoxer
Personally from me, I will more prefer a TP of 20pip which grant us a higher probability of winning.

But here's some method.

1) Only set SL for your trade, but no TP. Exit it manually using market price action. Required a fully understand market experienced trader.

2) Use scale out.
Example :
Open with 3lot. Close 1st lot at 15pips (then move SL to +1), 2nd lot at 30pips (move SL to +31), and 3rd lot trail it with 15pips trailing stop.

But do not forget, only use scale out method on the setup having a good quality. Bcoz, if the setup doesn't hit your first TP at all, you will suffer by hitting your SL with 3lot. Then you'll
  • Post #525
  • Quote
  • Edited at 12:13am Oct 6, 2008 12:03am | Edited at 12:13am
Im having a good one so far.

+ 20 eur/jpy
+ 20 usd/jpy
+ 20 gbp/jpy
+11 gbp/usd
Quoting iflyhigh72
Im having a good one so far.

+ 20 eur/jpy
+ 20 usd/jpy
+ 20 gbp/jpy
+11 gbp/usd

Post some charts if u get a chance. I see some people still making a few decent trades with Asia session. Ive tried but overall doesnt seem to work for me. I do though see straight breakout trades for the yen pairs as more consistant.
Good morning,

here is my first trade, 07:39 gmt
usdchf buy @1.1412
sl 1.1381
tp 1.1442
ts 15 pips
Attached Image (click to enlarge)
Click to Enlarge Name: chart usdchf 06.10..gif Size: 12 KB
Now I'm breakeven.
usdchf closed @ 1.1442; +30pips
AUDUSD +60
Entry: 0.7568
SL: 0.7604 (36)
TP: 0.7508

GBPJPY +259
Entry: 183.82
SL: 184.70 (88)
TP: 181.23

USDCHF +20
Entry:1.1390
SL: 1.1354
TP: 1.1410

Used 20 PIP trailing stops after reaching 20 PIP profits. Was away from my computer on the USDCHF trade, so I could change the limit. I also forgot to track USDJPY
Quoting RRothschild
AUDUSD +60
Entry: 0.7568
SL: 0.7604 (36)
TP: 0.7508

GBPJPY +259
Entry: 183.82
SL: 184.70 (88)
TP: 181.23

USDCHF +20
Entry:1.1390
SL: 1.1354
TP: 1.1410

Used 20 PIP trailing stops after reaching 20 PIP profits. Was away from my computer on the USDCHF trade, so I could change the limit. I also forgot to track USDJPY
259 pips lol... nice one
Thanks,

I wish I could say it was skill, but I got in the trade and it just kept going down and down. I put on on my 20 trailing stop and let it do its thing.

RR -

Quoting TradeSense
259 pips lol... nice one
A lot of the aussie pairs also seem to be doing well. In the hours before and after the asian open.
got closed out of my two trades before they took off. Hey it happens, but i can't complain still got decent recents.....

AUDUSD +80
Entry 0.7410
SL 0.7440 (30)
TP 0.7330

GBPUSD +19
Entry 1.7511
SL 1.755 (44)
TP 1.7492

Looks like I missed good trades on EURUSD, GBPJPY. What's going on with USDCHF? Daughter is distracting me this morning. In any case I think that I'm done for the day.

Good trading All.
A lot happening this session, could have got over 100 points on 2/3 different pairs
Quoting RRothschild
got closed out of my two trades before they took off. Hey it happens, but i can't complain still got decent recents.....

AUDUSD +80
Entry 0.7410
SL 0.7440 (30)
TP 0.7330

GBPUSD +19
Entry 1.7511
SL 1.755 (44)
TP 1.7492

Looks like I missed good trades on EURUSD, GBPJPY. What's going on with USDCHF? Daughter is distracting me this morning. In any case I think that I'm done for the day.

Good trading All.
Hi RRothschild. With that 80 pip win on the aussie, are you just using a 20 pip trailing stop? Thanks
Yes, once I get to 20 PIPs, I lock those in and trail at that point. Sometimes that will make you miss a bigger move like I did this morning on the GBPUSD. I got 19 PIPs but the market pulled back to my stop and then took off for another bunch of PIPs.

Nomo originally said that the system pretty much can consistanly produce 20 PIPs, so I lock in the "guaranteed" PIPs then let the market do its thing. I'm still experimenting with the TP. Nomo said we should aim for 1:1 r/r. So that is usually my initial TP, then based on PA I adjust sometimes.

RR -

Quoting iflyhigh72
Hi RRothschild. With that 80 pip win on the aussie, are you just using a 20 pip trailing stop? Thanks
Quoting RRothschild
Yes, once I get to 20 PIPs, I lock those in and trail at that point. Sometimes that will make you miss a bigger move like I did this morning on the GBPUSD. I got 19 PIPs but the market pulled back to my stop and then took off for another bunch of PIPs.

Nomo originally said that the system pretty much can consistanly produce 20 PIPs, so I lock in the "guaranteed" PIPs then let the market do its thing. I'm still experimenting with the TP. Nomo said we should aim for 1:1 r/r. So that is usually my initial TP, then based on PA I adjust sometimes.

RR -
Shame that I was sitting on the toilet from 15:00gmt with no positions.... Anyway, you're an inspiration. Good trading and enjoy the champagne.
Tomorrow's another day! You have to be in it to win it.

Stick to Nomo's rules and you'll be inspriring others.....

RR -

Quoting Gossy68
Shame that I was sitting on the toilet from 15:00gmt with no positions.... Anyway, you're an inspiration. Good trading and enjoy the champagne.
Dow went under 10,000. that is the culprit for the market to go down like nuts.

I had a good day today, can't complaint.

cheers everybody - can see that people are making some cash!!!

remember guys, consistency is the key.
0 traders viewing now