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Nomoretoxic's breakout

  • #761
  • Oct 18, 2008 9:00am Oct 18, 2008 9:00am
Hi Nomo,

for the purposes of the indicator, only the START of the pullback will be identified.

to summarize, to identify that pullback start candle, we look for a bearish candle (for long breakouts) and bullish candle (for short breakouts).



Quoting nomoretoxic
Cheelu

if you see this post, just do it at the next bar/candle - no biggie. I think will be better that way in order to create a code for the indi.

I just want to point out that people get all mixed up on counting how many candles they need to count for a pullback.

A pullback could have so many bars up to a point it could become a reversal...who knows???

You guys just need to focused on be in position in order to catch the follow-thru move...that's it..

hope it helps.
  • #762
  • Oct 18, 2008 9:10am Oct 18, 2008 9:10am
Quoting cheelu
Hi Nomo,

for the purposes of the indicator, only the START of the pullback will be identified.

to summarize, to identify that pullback start candle, we look for a bearish candle (for long breakouts) and bullish candle (for short breakouts).
There you go my friend...

That's all we need...

Plain and simple..
  • #763
  • Oct 18, 2008 9:15am Oct 18, 2008 9:15am
yeah, i'm up in the air still.....so far it has been profitable, AUDUSD and GBPJPY have been performing well.


Quoting nomoretoxic
well...I can see that.

So you're doing some sort of research on ASIA Session/ still to early to come up to a conclusion or do you think so far is worth to trade it???

Please advise.
  • #764
  • Oct 18, 2008 9:28am Oct 18, 2008 9:28am
Here are my stats so far with regard to Asian session so far

Average 41 PIPs per day over the last 3 weeks.

This includes the 200+ PIP GBPJPY trade.

The average without that large trade is 22 PIPs.

RR -



Quoting RRothschild
yeah, i'm up in the air still.....so far it has been profitable, AUDUSD and GBPJPY have been performing well.
  • #765
  • Oct 18, 2008 9:30am Oct 18, 2008 9:30am
Quoting RRothschild
Here are my stats so far with regard to Asian session so far

Average 41 PIPs per day over the last 3 weeks.

This includes the 200+ PIP GBPJPY trade.

The average without that large trade is 22 PIPs.

RR -
how was your R/R in those trades?

are some of them load adjusted?
  • #766
  • Oct 18, 2008 10:02am Oct 18, 2008 10:02am
Nomo, thanks for clearing that up. I now understand your definition of a pullback candle.
  • #767
  • Oct 18, 2008 11:24am Oct 18, 2008 11:24am
Quoting loophole
Nomo, thanks for clearing that up. I now understand your definition of a pullback candle.
Glad I could help.

Don't hesitate to ask.

cheers
  • #768
  • Oct 18, 2008 3:01pm Oct 18, 2008 3:01pm
yes, many of them are load adjusted, but i've been trying to go for 1/1

















c

Quoting nomoretoxic
how was your R/R in those trades?

are some of them load adjusted?
  • #769
  • Oct 18, 2008 4:56pm Oct 18, 2008 4:56pm
Latest Indicator in http://www.forexfactory.com/showpost...31&postcount=1

the stop line will be displayed as soon as pullback start candle is formed. I didn't get a chance to test it on live market yet.
  • #770
  • Oct 19, 2008 2:19am Oct 19, 2008 2:19am
Quoting cheelu
Latest Indicator in http://www.forexfactory.com/showpost...31&postcount=1

the stop line will be displayed as soon as pullback start candle is formed. I didn't get a chance to test it on live market yet.

Hi cheelu,

The indicator is great but when I try to apply it to only the 5 and 15 min charts it shows up on every time frame. Why don't the visualization parameters work?
  • #771
  • Edited 8:14am Oct 19, 2008 8:12am | Edited 8:14am
Nomo and all...

Thanks for the input and especially the clarification on the pullback candles Nomo. Cheerlu, the indicator is great. My results have been mixed - more because of interruptions than enything else.

My question has to do with times for the breakout boxes everyone is using. I believe there are no 'Official Nomoretoxic' times. I have been using one hour before and one hour, 5 minutes after the market opening. (London and New York mainly) Is this the time everybody else is using?

Also, how long is everybody monitoring the box? I have been using only 2 hours but I believe some are using longer.

Finally - which pairs seem to work best? I have been trying to stay with the majors but look like I have missed some pretty good action in other pairs.


Thanks

T...
  • #772
  • Oct 19, 2008 9:06am Oct 19, 2008 9:06am
Fixed.please redownload.
Quoting ozziedave
Hi cheelu,

The indicator is great but when I try to apply it to only the 5 and 15 min charts it shows up on every time frame. Why don't the visualization parameters work?
  • #773
  • Oct 19, 2008 10:57am Oct 19, 2008 10:57am
Quoting tsquad
Nomo and all...

Thanks for the input and especially the clarification on the pullback candles Nomo. Cheerlu, the indicator is great. My results have been mixed - more because of interruptions than enything else.

My question has to do with times for the breakout boxes everyone is using. I believe there are no 'Official Nomoretoxic' times. I have been using one hour before and one hour, 5 minutes after the market opening. (London and New York mainly) Is this the time everybody else is using?

Also, how long is everybody monitoring the box? I have been using only 2 hours but I believe some are using longer.

Finally - which pairs seem to work best? I have been trying to stay with the majors but look like I have missed some pretty good action in other pairs.


Thanks

T...

Hello T.

One logic behind the box is to identify periods of consolidations followed by breakouts. It's definitely hard to tell as the markets will do whatever. So we can only make an educated guess and take every session's change as a benchmark.

Some people will have different results and honestly, if you try to be at either side, will probably make you crazy. The best we can do is try to match it up in order to be singing the same song.

This style of trading is not completely mechanical. Therefore discipline must be applied. I began to be profitable when I took time to trade this system (no distractions) and applied the rules no matter wining or losing ...every day like a clock.

About pairs, my experience has been better since I trade only EUR/USD. I found on this pair more stability with a lot less fake outs.

Hope it helps
  • #774
  • Oct 19, 2008 4:53pm Oct 19, 2008 4:53pm
Appreciate the quick response.

T...
  • #775
  • Oct 19, 2008 6:55pm Oct 19, 2008 6:55pm
Well first off let me thank Nomoretoxic for the solid and simple trading strategy. Unfortunately I haven't been able to test it out first hand, as I've been reading through the entire thread for the past few days, and I don't think I am going to try anything on a Sunday.

At first I had some confusion as to when the box should start, especially considering that so many people are at least slightly different times, but I've figured out that it's not really a hard and fast rule of Nomoretoxics on when to start the box. Really something that you just have to judge for yourself on.

My main concern however is with the Asian session. Unfortunately for me, it's the only session that I'm going to get to trade in.

I noticed that RRothschild has been testing it out and has admittedly had mixed results with it. RRothschild has however mentioned that there were two pairs thus far that had done fairly well. My thought is that maybe those two pairs should be the one's that are focused on during the Asian session.

Maybe RRothschild, if you don't mind, can crunch the numbers (success rate & average pip result) of just those two pairs during his trades from the Asian session. It may just be that there are only two that work effectively during the Asian session. Not that it would be a bad thing however, Nomoretoxic admits himself that he only focus' on EUR/USD. Just having two to pay attention to begin with would be easier anyways. I guess I would just like to know RRothschild's actual #'s with his two most successful pairs during the Asian session.

Thanks everyone for all the continued examples of how this strategy works. Awesome thread............and long too.
  • #776
  • Oct 19, 2008 8:26pm Oct 19, 2008 8:26pm
Jnatty

Welcome to the thread.

RR has been doing some test as you already know with mixed results.

Let's wait 'n see what he has to say.

Cheers.
  • #777
  • Oct 19, 2008 8:56pm Oct 19, 2008 8:56pm
Asia session - EUR/USD - winner
  • #778
  • Oct 19, 2008 9:41pm Oct 19, 2008 9:41pm
Quoting loophole
Asia session - EUR/USD - winner
Would you be so kind as to list the trade specifics? ie entry point, exit, SL.

Thanks

T...
  • #779
  • Oct 19, 2008 9:53pm Oct 19, 2008 9:53pm
Sorry guys, Please download the indicator again.I've updated it just now.
http://www.forexfactory.com/showthread.php?t=115267
  • #780
  • Oct 19, 2008 9:58pm Oct 19, 2008 9:58pm
Quoting loophole
Asia session - EUR/USD - winner


You're trading on a Sunday session?

Always scared to trade a Sunday session, seems a bit too wild for me......at least at the start.

Cheelu,

On the recently updated indicator.........just wondering why the box only covers about 20min?
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