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Nomoretoxic's breakout

  • #541
  • Oct 6, 2008 2:12pm Oct 6, 2008 2:12pm
I figure it's only fair for an EA for this system. I coded an EA with adjustable times so you can define your specific range-finding period. Just make sure that the EA is placed on the 1 minute chart.

No, it doesn't follow the usual wait-for-retrace-then-take-trade. I'm still working on that.
Attached File(s)
File Type: mq4 Generic Breakout Version 4.mq4   14 KB | 436 downloads
  • #542
  • Oct 6, 2008 3:07pm Oct 6, 2008 3:07pm
Thanks a lot Ronald!

cheers
  • #543
  • Oct 6, 2008 3:13pm Oct 6, 2008 3:13pm
Seeing the immature, emotional fireworks on other threads makes you appreciate the low-key decency of this one. Thanks, Nomo, and everyone else.

Lenoxer.
  • #544
  • Oct 6, 2008 3:19pm Oct 6, 2008 3:19pm
Quoting Lenoxer
Seeing the immature, emotional fireworks on other threads makes you appreciate the low-key decency of this one. Thanks, Nomo, and everyone else.

Lenoxer.
It's an unfortunate part of life here at FF.

Life Cycle of popular thread:

 

  1. New/Exotic idea comes out
  2. Idea is proven to be very successful early on
  3. Veterans are attracted because the idea is successful.
  4. Newbies flock after the veterans
  5. Veterans get angry at newbies for laziness and repetitive questions
  6. EAs and indicators are developed for the system.
  7. Newbies start suggesting/demanding modifications which make the system "better"
  8. More EAS and indicators are developed for the system
  9. More newbies join in on the fun but don't want to read the thread through
  10. The new newbies start blaming the veterans for not helping them.
  11. Veterans get angry at the newbies for disturbing/annoying them with repetitive questions
  12. Creator is either kicked off or leaves due to the emotional unrest
  13. System starts failing, people start calling this a fluke
  14. Thread loses interest
  15. Thread dies.

Repeat.

  • #545
  • Oct 6, 2008 4:18pm Oct 6, 2008 4:18pm
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

For the Asian session, it seems a straight breakout achieved the above results except usd/chf. Can you confirm? I am finding out it may be better not to wait for retrace during this session, pairs tend to just run with the initial breakout.

Whats your experience with the Asian session, insight appreciated.
  • #546
  • Oct 6, 2008 4:23pm Oct 6, 2008 4:23pm
Quoting Ronald Raygun
It's an unfortunate part of life here at FF.

Life Cycle of popular thread:

  1. New/Exotic idea comes out
  2. Idea is proven to be very successful early on
  3. Veterans are attracted because the idea is successful.
  4. Newbies flock after the veterans
  5. Veterans get angry at newbies for laziness and repetitive questions
  6. EAs and indicators are developed for the system.
  7. Newbies start suggesting/demanding modifications which make the system "better"
  8. More EAS and indicators are developed for the system
  9. More newbies join in on the fun but don't want to read the thread through
  10. The new newbies start blaming the veterans for not helping them.
  11. Veterans get angry at the newbies for disturbing/annoying them with repetitive questions
  12. Creator is either kicked off or leaves due to the emotional unrest
  13. System starts failing, people start calling this a fluke
  14. Thread loses interest
  15. Thread dies.

Repeat.

This is the best description about a life of a thread ever!!

I think everyone here at FF should read it.
  • #547
  • Oct 6, 2008 4:33pm Oct 6, 2008 4:33pm
I've been following the pullback methodology on the asian session as well.

Only started trading the asian session on Oct 1. I've posted all of my results on this post.

RR -

Quoting mappollo69
For the Asian session, it seems a straight breakout achieved the above results except usd/chf. Can you confirm? I am finding out it may be better not to wait for retrace during this session, pairs tend to just run with the initial breakout.

Whats your experience with the Asian session, insight appreciated.
  • #548
  • Oct 6, 2008 6:07pm Oct 6, 2008 6:07pm
Quoting Ronald Raygun
It's an unfortunate part of life here at FF.

Life Cycle of popular thread:

  1. New/Exotic idea comes out
  2. Idea is proven to be very successful early on
  3. Veterans are attracted because the idea is successful.
  4. Newbies flock after the veterans
  5. Veterans get angry at newbies for laziness and repetitive questions
  6. EAs and indicators are developed for the system.
  7. Newbies start suggesting/demanding modifications which make the system "better"
  8. More EAS and indicators are developed for the system
  9. More newbies join in on the fun but don't want to read the thread through
  10. The new newbies start blaming the veterans for not helping them.
  11. Veterans get angry at the newbies for disturbing/annoying them with repetitive questions
  12. Creator is either kicked off or leaves due to the emotional unrest
  13. System starts failing, people start calling this a fluke
  14. Thread loses interest
  15. Thread dies.

Repeat.


Great post RR.....It's a viscous circle. Unfortunately, most of the newbies asking the questions should be studying trading101 instead of jumping into systems that will only deplete their trading capital unless their lucky. I'm sure those that fall in that category will also not follow the rules of the system when it has a downturn. That's always when they start recommending to add to the system or change something.
  • #549
  • Oct 6, 2008 7:56pm Oct 6, 2008 7:56pm
EURUSD -14
Entry: 1.3546
SL: 1.3523
TP: 1.3569

USDUSD -22
Entry: 1.1431
SL: 1.1446 (22)
TP: 1.1416
  • #550
  • Oct 6, 2008 8:38pm Oct 6, 2008 8:38pm
Quoting RRothschild
EURUSD -14
Entry: 1.3546
SL: 1.3523
TP: 1.3569

USDUSD -22
Entry: 1.1431
SL: 1.1446 (22)
TP: 1.1416
Yeah...I lost on E/U as well and G/U. I probably should not have entered on that pin bar (G/U on IBFX) and waited for an actual pull back candle. Oh well. Pound/Yen is wild tonight. I am done for now.
  • #551
  • Oct 7, 2008 3:09am Oct 7, 2008 3:09am
A nice trade in this morning.
gbpjpy sell @ 179.34
sl 180.00
tp 176.34
ts 30 pips

08:06 gmt closed @ 177.83 = 151 pips
Attached Image (click to enlarge)
Click to Enlarge Name: chart gbpjpy 07.10..gif Size: 10 KB
  • #552
  • Oct 7, 2008 3:18am Oct 7, 2008 3:18am
Nice pips. Was a no trade for me. Your box closes 8,59,59, mine closes 9,04,59. 5 minute difference.

you made 151, i made 0, o well, im chillin till NY.
  • #553
  • Oct 7, 2008 3:20am Oct 7, 2008 3:20am
The next trade?

stop sell audusd @ 0.7167
sl 0.7225
tp 0.7107
ts 20 pips
  • #554
  • Oct 7, 2008 3:26am Oct 7, 2008 3:26am
Quoting mappollo69
Nice pips. Was a no trade for me. Your box closes 8,59,59, mine closes 9,04,59. 5 minute difference.

you made 151, i made 0, o well, im chillin till NY.
Hi mappollo69,
yes, my box closes @ 06:59 gmt. So I can switch around the timeframes.
  • #555
  • Oct 7, 2008 3:52am Oct 7, 2008 3:52am
Nice trading.....my box also closes at 9:04:59 so I missed those trades as well. It happens.....no trades for me this london session

I'll be on the sidelines until NY.


Quoting swakop
A nice trade in this morning.
gbpjpy sell @ 179.34
sl 180.00
tp 176.34
ts 30 pips

08:06 gmt closed @ 177.83 = 151 pips
  • #556
  • Edited 7:38am Oct 7, 2008 7:36am | Edited 7:38am
London session was all over the place. There were no other setups other than AUDUSD that I saw.

There have been some good straight breakouts, if you look closely 2 out of 3 are false breakouts. We may have missed 1 or 2 big moves, but we probably missed many more big losses. Just my view.

I reluctantly took a AUDUSD trade and it worked out.

AUDUSD +34
Entry: 0.7186
SL: 0.7220 (34)
TP: 0.7152

Good trading everyone let's see what the NY session brings.

RR -
  • #557
  • Oct 7, 2008 7:53am Oct 7, 2008 7:53am
FMOC Minutes - today.

Choooopy. - London was awful.

Another clown in a suit speaking@11:00.

be careful today!!!!!
  • #558
  • Oct 7, 2008 8:24am Oct 7, 2008 8:24am
gbp/usd
eur/usd
usd/jpy
eur/jpy
gbp/jpy
aud/usd

Retracements in process for most, should be interesting.
  • #559
  • Oct 7, 2008 8:38am Oct 7, 2008 8:38am
Good start

long gbpusd

entry 1.7595
tp 1.7625
sl 1.7543

+30

long eurusd

entry 1.3701
tp 1.3731
sl 1.3669

+30
  • #560
  • Oct 7, 2008 8:44am Oct 7, 2008 8:44am
I missed the EURUSD breakout.
The spread for GBPJPY was too high for my taste on FXCM.
I also missed USDCHF

GBPUSD +30
Entry:1.7591
SL: 1.7561
TP: 1.7621

AUDUSD - 18
Entry: 0.7311
SL: 0.7293
TP: 0.7331

Didn't get my TP in before the trade made its way up there. Oh well. AUDUSD should have been a 20 PIP win.
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