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Nomoretoxic's breakout

  • #801
  • Oct 20, 2008 8:56pm Oct 20, 2008 8:56pm
i use fxcm trading station so i have to do it all by hand.....hopefully someone that uses the indicators can assist.

Quoting lnefx
When you use the above times for the Asian session - what time do you use for the \"BreakoutEndTime\" field? If I go over 00:00hrs (ie. into a new day) the Offset levels don't display correctly.
Thanks
  • #802
  • Edited Oct 21, 2008 8:11am Oct 20, 2008 9:03pm | Edited Oct 21, 2008 8:11am
so far i haven't seen any trades in the asian session. this is what i see as of now

- audusd broke out but hasn't retraced into a trade yet
- gbpusd broke out but hasn't retraced into a trade yet
- usdchf broke out but hasn't retraced into a trade yet
- gbpjpy broke out but hasn't retraced into a trade in fact its heading toward the other side of the box

RR -

Quoting Jnatty
I noticed that too.

I just went ahead and done up the box and everything myself, rather than try and figure out how to make it work properly for the Asian session. Although that could just be because I'm lazy.

P.S. Asian market not looking pretty for my first run right now. Already got stopped out of GBP/USD......Although I only went 20 S/L & 20 T/P instead of actually putting the S/L in a safe place.

Just went ahead with the 1:1 R/R approach with my first attempt at things.

Got stopped out on GBP/JPY just now too.....*EDIT*:: Just noticed I should never had been in this trade, oops!

Still getting a feel for things too, so some of this is likely my mistakes.

Also running myself a little crazy paying attention to 4 pairs, can't wait till I get it narrowed down to 1 or 2.
  • #803
  • Oct 20, 2008 9:50pm Oct 20, 2008 9:50pm
Do you require your retrace to go all the way back to the box?

Regardless, I think I had my box placed at a bad two hour time span....Pretty much everytime one would have done just enough to enter a trade, but then turned straight back the other way for a solid run......Having my box start either 1 hour later or earlier would have kept me out of the trade. On AUD/USD it would have actually set me up for a successful trade if I'd set it up for the earlier time frame.

Lesson learned. Now I just have to decide which way I want to change it.......earlier or later.
  • #804
  • Oct 20, 2008 11:01pm Oct 20, 2008 11:01pm
RRothschild, Asia session EUR/USD did not breakout for me. Please post your chart.
  • #805
  • Oct 20, 2008 11:21pm Oct 20, 2008 11:21pm
Neither am I!
  • #806
  • Oct 21, 2008 4:16am Oct 21, 2008 4:16am
Two trades in this session:
gbpusd sell @ 1.7084 (+61 pips)
sl 1.7145
tp 1.7023

gbpjpy sell @ 172.75 (+50 pips)
sl 173.24
tp 171.75

new sl was hit.
  • #807
  • Oct 21, 2008 7:37am Oct 21, 2008 7:37am
you're right....that was a typo

Quoting loophole
RRothschild, Asia session EUR/USD did not breakout for me. Please post your chart.
  • #808
  • Oct 21, 2008 10:01am Oct 21, 2008 10:01am
Buy GBPUSD -69

Entry 1.7032
SL 1.6963 (69)
TP 1.7101

close: 1.6963

this trade retraced to almost the other side of the box. perhaps i shouldn't have taken it. now looking at the other side.
  • #809
  • Oct 21, 2008 10:47am Oct 21, 2008 10:47am
The market has been moving down basically with little to no chance to place a trade at least on my end.

That's cool because makes me stay disciplined...sit on my hands and do nothing.

Remember guys I decided to go for E/U and dump the rest.

There might be something cooking now at 11:47 AM...who knows...
  • #810
  • Oct 21, 2008 10:53am Oct 21, 2008 10:53am
yeah, i'm watching the EURUSD right now too, in the meantime I was able to play the other side of the GBPUSD box and made back all my losses.

let's see what happens.
Quoting nomoretoxic
The market has been moving down basically with little to no chance to place a trade at least on my end.

That's cool because makes me stay disciplined...sit on my hands and do nothing.

Remember guys I decided to go for E/U and dump the rest.

There might be something cooking now at 11:47 AM...who knows...
  • #811
  • Edited 11:14am Oct 21, 2008 11:02am | Edited 11:14am
For those that are interested, I played the other side of the GBPUSD box as I mentioned a few posts ago. here are the trade details

Sell GBPUSD
E - 1.6944
SL - 1.6855 (Original SL 1.6998 (54) reset to cover losses for earlier trade + 20 PIPs)
TP - 20 PIP trailing stop in place....

UPDATE: Closed at 1.6855 +89

RR -
  • #812
  • Oct 21, 2008 11:19am Oct 21, 2008 11:19am
What for nice moves in GU and UC.
I traded only UC
usdcad buy @ 1.2128 (+60 pips)
sl was 1.2092
tp was 1.2188
  • #813
  • Oct 21, 2008 12:18pm Oct 21, 2008 12:18pm
NY session - EUR/USD - short at 1.3099 - 20 SL - 20 TP
Winner Winner Chicken Dinner
  • #814
  • Oct 21, 2008 12:28pm Oct 21, 2008 12:28pm
Good trade.....

i entered short at 1.3096 trying to see if I can get more out of this trade, i think that it still has room to go down.

maybe i should have taken the 20. We'll see.....

Quoting loophole
NY session - EUR/USD - short at 1.3099 - 20 SL - 20 TP
Winner Winner Chicken Dinner
  • #815
  • Edited 3:38pm Oct 21, 2008 2:55pm | Edited 3:38pm
Long ride, but it worked out this time.....

Sell EURUSD
e - 1.3096
sl - 1.3140 (44)
tp - 1.3062

closed 1.3062 (+34 PIPs)

the wait was not worth the additional 14 PIPs....

Quoting RRothschild
Good trade.....

i entered short at 1.3096 trying to see if I can get more out of this trade, i think that it still has room to go down.

maybe i should have taken the 20. We'll see.....
  • #816
  • Oct 21, 2008 6:40pm Oct 21, 2008 6:40pm
What time frame is the box for the asian session ( EST?)

Been trying to find it in the thread... must have passed over it and just thought I would ask instead.

Thanks
  • #817
  • Oct 21, 2008 6:57pm Oct 21, 2008 6:57pm
Asia session - EUR/USD - short @ 1.3010
  • #818
  • Oct 21, 2008 7:08pm Oct 21, 2008 7:08pm
Loophole,

Are considering the candle that didn't go quite as long as the one before it a retrace candle, even though it finished as bearish?

I always went with a candle that closed in the opposite direction as a retrace. I might have to keep notes on that however.

I'm not getting in until 1.29985 myself.

FYI, keep an eye out on the U/C pair.
  • #819
  • Edited 9:53pm Oct 21, 2008 7:13pm | Edited 9:53pm
Quoting Troon
What time frame is the box for the asian session ( EST?)

Been trying to find it in the thread... must have passed over it and just thought I would ask instead.

Thanks
Wish I could help ya, but I'm still trying to really figure that out myself.

I'm currently using 17:25 - 19:30

Though I don't believe anyone else is. Just testing a theory that came to my head........from absolutely zero information, just popped in there.

UPDATE:: A/U just brokeout, next candle has started off as a re-trace...

UPDATE II :: 3 trades entered...... +66.3 Pips

EUR/USD - Open @ 22:15 Eastern U.S. time
Enter: 1.29985
Stop Loss: 1.30325
Take Profit: Actually I just manually closed this.......well all three actually.
Closed: 1.29617 @ 22:28 : *+36.8*

GBP/USD - Open @ 22:24
Enter: 1.65061
Stop Loss: 1.69585
Closed: 1.64970 @ 22:29 : *+9.1*

USD/CAD - Open @ 22:26
Enter: 1.21602
Stop Loss: 1.21445
Closed: 1.21806 @ 22:30 : *+20.4*

NOTE:: All of these could have been better, U/C & G/U especially, but I am a bit lost on working the trailing stop with FXCM......Yes I abandoned MetaTrader after just one day......I'm more familiar and comfortable with FXCM's Marketscope 2.0, with the exception of the "trailing stop".

SO if anyone can assist me with their trailing stop, it'd be much appreciated. Thanx.

And now that I was trading on a platform I'm comfortable with, and felt more confident with using.....I can praise the system introduced to us by Nomoretoxic......Even if it is really just day one of success, yesterday I was too lost to count so I'm giving myself a mulligan.
  • #820
  • Oct 22, 2008 12:09am Oct 22, 2008 12:09am
Nice moves in this morning. I traded only:

audusd sell @ 0.6725 (+49 pips)
sl: 0.6770
tp: 0.6625
ts: 20 pips

gbpjpy sell @ 163.80 (+86 pips)
sl: 164.55
tp: 162.30
ts: 35 pips
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