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Attachments: 7am-9am Big Dog USD Breakout Strategy
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7am-9am Big Dog USD Breakout Strategy

  • #761
  • Nov 6, 2008 7:10pm Nov 6, 2008 7:10pm
Quoting neurus
Excellent System
Thanks

The only people that don't like it are the ones that voted against it...then again, it is my opinion that they can't spot a great system.
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #762
  • Nov 6, 2008 7:11pm Nov 6, 2008 7:11pm
Quoting CTGUY
You failed to use a S/L
LTNS.. Sir..

How have u been?
BTW:: now US session has shifted rite?? so what the big dog time period shall be in EST??


Sonic
  • #763
  • Nov 6, 2008 7:12pm Nov 6, 2008 7:12pm
Quoting Lenoxer
Dear Thread,

I mean to ask, what exit routines best fit the expectations of this system?

Thanks,

Lenoxer
I trade this system to obtain 10 pips. May not sound a lot to many traders but I trade large lots. If the movement is slow... grab 10 and get out. If movement is nice, stay in for the ride. I grabbed about 250 pips today on G/U.
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #764
  • Nov 6, 2008 7:17pm Nov 6, 2008 7:17pm
Quoting Delfino
-15 on EUR/USD today so far, false breakout by a few pips

Waiting to see if the real breakout happens after it retraces.

You should trade the G/U which is the pair the system is designed for. The system didn't lose the pips, you did by using a pair not recommended.

Good Luck
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #765
  • Nov 6, 2008 7:19pm Nov 6, 2008 7:19pm
Quoting Delfino
Most likely, I'm going to re-read this thread and rehash the rules. I checked the main trend which was going down, and the open today was under the pivot point so I figured a short would be safe. I'll call it a day though if the rules state I shouldnt have taken the first trade.
Incorrect, the rules don't state to not take the first trade. Pivotpoint is not an indicator recommended for this system. Please read the rules... your loses are not a result of this system but your own rules.
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #766
  • Nov 6, 2008 7:21pm Nov 6, 2008 7:21pm
A winning trade is a winning trade...great going!

Quoting picon1
ys just started using this on demo account

Did some manual back testing over the last 2 months or so.

Made a nice 95 pips today on GU. I was a bit greedy and didn't set a trailing stop until it got to about 65 pips.

If I was being disciplined I would have gone for the 15 pip first target, then set my trailing stop.

So far so good though.
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #767
  • Nov 6, 2008 7:32pm Nov 6, 2008 7:32pm
welcome back CTGUY,
how do you deal with with days where news comes out right around when the box ends (9:14am NY time), i.e. 9am, 930am news events?
don't trade?
not trading is fine, but if I am always looking out for no-news days then sometimes I might go a week without making a single trade. There are always big news events. Tomorrow we have non-farm employment change and unemployment rate @ 930am NY time, plus the fact that it's friday, thus i would normally not even enter a trade.

Just looking at next week we have 3 stay away from trading this system days - Nov 11th bank holiday US, Nov 13th red event (USD trade balance) @ 930am, and Nov14th @930am USD core retail sales.
Or how do you manage to trade during news days keeping risk at a minimum?

thanks for all your help, this is a great system..
-dz
  • #768
  • Nov 6, 2008 7:36pm Nov 6, 2008 7:36pm
Quoting sonicdeejay
LTNS.. Sir..

How have u been?
BTW:: now US session has shifted rite?? so what the big dog time period shall be in EST??


Sonic
Hey my good friend, I miss the chats... get back on MSN.

The new hours are 8am and 10am est for the box. I made a mistake and forgot to change it today.

Jump on chat

George
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #769
  • Nov 6, 2008 7:38pm Nov 6, 2008 7:38pm
Quoting CTGUY
Hey my good friend, I miss the chats... get back on MSN.

The new hours are 8am and 10am est for the box. I made a mistake and forgot to change it today.

Jump on chat

George
Hey George,

I thought US open @ 10 AM EST.... in that case the box should be 9 to 11 AM EST??

*me at my low-pay work...join u later on msn

Sonic
  • #770
  • Nov 6, 2008 7:42pm Nov 6, 2008 7:42pm
Hey my friend, it has been a while

Keep in mind that the box times have changed to 8am and 10am.

When it comes to news, I don't trade the breakout if the times coincide. Like the NFP... I don't trade this system on this day. Actually, I don't trade any manual system on this day. Trading the NFP is a 50/50 crap shoot and you know I don't trade unless I have better odds. What I do is to trade the London Open times the night before, get my pips and when the London slows down, I then make it a three day weekend. What do you think? You know I value your opinion my friend.

George

Jump on chat with me. PM me

Quoting dengzhi
welcome back CTGUY,
how do you deal with with days where news comes out right around when the box ends (9:14am NY time), i.e. 9am, 930am news events?
don't trade?
not trading is fine, but if I am always looking out for no-news days then sometimes I might go a week without making a single trade. There are always big news events. Tomorrow we have non-farm employment change and unemployment rate @ 930am NY time, plus the fact that it's friday, thus i would normally not even enter a trade.

Just looking at next week we have 3 stay away from trading this system days - Nov 11th bank holiday US, Nov 13th red event (USD trade balance) @ 930am, and Nov14th @930am USD core retail sales.
Or how do you...
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #771
  • Nov 6, 2008 7:44pm Nov 6, 2008 7:44pm
Quoting sonicdeejay
Hey George,

I thought US open @ 10 AM EST.... in that case the box should be 9 to 11 AM EST??

*me at my low-pay work...join u later on msn

Sonic
Hey my friend, good point. I am brain dead and need to check with my buddy Nimrod. But I thought it was one hour shift to the right. I want to ask Nathan, but for some strange reason, I haven't seen him on yahoo all day. Let me get back to you on that answer.

Need to change the title of this thread also.

George
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #772
  • Nov 6, 2008 7:58pm Nov 6, 2008 7:58pm
Quoting CTGUY
Hey my friend, good point. I am brain dead and need to check with my buddy Nimrod. But I thought it was one hour shift to the right. I want to ask Nathan, but for some strange reason, I haven't seen him on yahoo all day. Let me get back to you on that answer.

Need to change the title of this thread also.

George
Howdy George,

I cant change it man lolz, it wont change. But if admins reading this. Please change it from 7am-9am Big Dog USD breakout to just "Big Dog USD breakout" & thanks.

Nimrod
  • #773
  • Nov 6, 2008 8:01pm Nov 6, 2008 8:01pm
Quoting dznmrd
Howdy George,

I cant change it man lolz, it wont change. But if admins reading this. Please change it from 7am-9am Big Dog USD breakout to just "Big Dog USD breakout" & thanks.

Nimrod
Thanks for the attempt..another flaw with this forum. Wish you many pips my friend.

George
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #774
  • Nov 6, 2008 8:24pm Nov 6, 2008 8:24pm
Quoting CTGUY
Incorrect, the rules don't state to not take the first trade. Pivotpoint is not an indicator recommended for this system. Please read the rules... your loses are not a result of this system but your own rules.
Of course, I wasnt blaming the system for those losses. I was going against the systems rules in so many ways that rereading the rules I'm suprised I had profits.

First, I traded currencies that were not recommended.

Second, I was using incorrect stop losses that were way too tight.

Third, I ignored the range recommendations for when to stay out of the trade in the first place.

All faults of my own.

To be totally honest I stopped trading this system after those last trades simply because 9am isnt a time I'm usually awake, Ive been trading DIBS because it works with my schedule.

However, fully understanding this system now and from what Ive learned trading DIBS in the past few weeks they actualy have similarities when it comes to money management that I really like.

First, your risk is based on the range of the day.. its not recommended to trade if the range is over 60, which means the most you risk in a day both ways would be a maximum of 120 pips.

Second, when there is good movement, with a proper trailing stop your risk ratio diminishes significantly. 40-60 pips is nothing if the day keeps moving up or down, and acheiving 100-200 pips in a day can be very easy.

These are the best strategies in my opinion because you already know your risk before entering, therefore you can assess easier whether to trade this strategy this day or wait for the next opportunity.
  • #775
  • Edited Nov 7, 2008 6:54pm Nov 6, 2008 9:22pm | Edited Nov 7, 2008 6:54pm
I don't think the time box should be changed at all.
UK/Europe had their DST change 2 weeks ago, US had their DST a week ago, in the end nothing changes. The time box should still be 7am-9am NY time.
Before the DST time shift in NY, traders would go into work at 8am for the NY open, now after the DST time shift in NY, traders ARE STILL going into work at 8AM for the NY open, the only difference is now it gets dark earlier. There should not be a change of the time box.

CTGUY please confirm


Quoting dznmrd
Howdy George,

I cant change it man lolz, it wont change. But if admins reading this. Please change it from 7am-9am Big Dog USD breakout to just "Big Dog USD breakout" & thanks.

Nimrod
  • #776
  • Nov 7, 2008 5:59am Nov 7, 2008 5:59am
Hi all,

I was read all the thread, and i like the system... and i was decide use this indicator: http://www.forexfactory.com/showpost...7&postcount=64

Today (november 7, i know today is Non-Farm Employment, and i dont use this system today) i'm testing the indicator and it's says me 1210 pips in the range.... it's ok? can anyone confirm this, only to confirm i was configure the indicator fine.

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: grafico.gif Size: 15 KB
  • #777
  • Nov 7, 2008 6:35am Nov 7, 2008 6:35am
In post 387: http://www.forexfactory.com/showpost...&postcount=397
Quoting CTGUY
The ema's (closed) in yellow are 3, 5, 8, 10, 12 and 15.
The ema's (closed) in red are 30, 35, 40, 45, 50 and 60.
Whats is the value of blue and red (the alone) emas ¿are emas?

Thanks,
  • #778
  • Nov 7, 2008 8:00pm Nov 7, 2008 8:00pm
Hi CTGUY:
I noticed the last few weeks, some massive sized boxes occuring. Very few of them even under 100 pips, some over 200 pips. Are you still sticking to your rules of boxes in the 50-60 pips range? If you are, that can I assume that you haven't had many trades in the last month or so? Thanks for all that you give to the forum.

Jim
  • #779
  • Nov 7, 2008 11:33pm Nov 7, 2008 11:33pm
CTGUY,

Thanks for sharing this strategy.
Btw i am a bit confused with the rules. When I look at the first post it doesn't have much to do with what you say along the thread.

Could you please clarify once and for all so we can refer to this post for the rules.

The pair is GBP/USD but what about the TP, SL etc.

Happy pipping everyone.
  • #780
  • Edited 12:34pm Nov 8, 2008 12:24pm | Edited 12:34pm
Hi

I've attached 3 files I got from this forum that I think can be a very productive EA.

There is an EA that someone did that doesn't work all the time but the logic is there. There is a Template that shows the parameters for 2 trades - one Buystop & one Sellstop. And, there is an Indicator that draws the New York Box from 8:00AM to 10:00AM.

The EA is supposed to frame that 2 hour box with a buffer of say 5 pips above and/or below the high or low for that period and when either the boundry is crossed it creates a Buystop or Sellstop is tripped it sets the prior High or Low as the stop loss so if it retraced it would breakeven.

I would like to try this and if it works as well as it does manually I would like to try it with the London & Asian Openings. But for now lets stick to NEW YORK!


JIM (Mr Chips)
Attached File(s)
File Type: zip NewYorkBox.zip   6 KB | 1,241 downloads
Jim (MrChips)
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