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

  • #781
  • Nov 9, 2008 5:26pm Nov 9, 2008 5:26pm
Thanks for the update... I wish you many pips.

Quoting Delfino
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...
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #782
  • Nov 9, 2008 5:28pm Nov 9, 2008 5:28pm
Quoting dengzhi
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
I too agree.... I am going to leave the box times to be set from 7 to 9 am NY Time. The breakouts the last couple of trading days have been excellent. No need to change something that is not broken.
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #783
  • Nov 9, 2008 5:31pm Nov 9, 2008 5:31pm
Quoting fabgonber
In post 387: http://www.forexfactory.com/showpost...&postcount=397


Whats is the value of blue and red (the alone) emas ¿are emas?

Thanks,
The red ema's gives up heads up on long term trends and the yellow gives us short trend movements.
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #784
  • Nov 9, 2008 5:34pm Nov 9, 2008 5:34pm
Quoting bigjim1958
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
Hey Jim

When this thread was started, we had average to slightly higher than average daily average movements in all currenty pairs. The last two months have been doubling and even tripleing in movements. With this in mind, I would temporarily forget the rule on 50-60 pip movements and trade with the other rules.

Now go make some pips my friend!
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #785
  • Nov 9, 2008 5:38pm Nov 9, 2008 5:38pm
Quoting airx3000
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.
No system has a set rule for s/l's. Mainly because this depends on one trading account size. For example, my account is sized nicely where my s/l can take more punishment than your can. That is why no set rules have ever been established for this. The t/p has been mentioned mega times. I only look for 10 pips since I trade large lots if the market is moving slowly. If the market is moving nicely, stay in for the ride.

Thanks for posting your questions.
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #786
  • Nov 10, 2008 2:50pm Nov 10, 2008 2:50pm
Quoting CTGUY
Hey Jim

When this thread was started, we had average to slightly higher than average daily average movements in all currenty pairs. The last two months have been doubling and even tripleing in movements. With this in mind, I would temporarily forget the rule on 50-60 pip movements and trade with the other rules.

Now go make some pips my friend!
Hi CTGUY:
Thanks for your quick reply and your continued support of this thread. Obvious question, but I'll ask anyway. First pip that breaks out of box triggers trade, no buffer in your system? Thanks for everything

Jim
  • #787
  • Nov 15, 2008 5:28pm Nov 15, 2008 5:28pm
This is a great system. Just to let everyone know. i shoot for 10 pips during the NY session. I do not use a stop loss because I use a micro account and the drawdown is not really a concern. price corrects and I get my profit in a few days or a week. I trade 9 currency pairs using this strategy and trade .30 lots with each one. so .30 x 9 = 27.00 a day. My margin is 400 to 1 so my trading margin is very low. for every .10 lot it is 2.50 of margin. And that is standard for each currency pair.

Just wanted to share my strategy and good luck to everyone

Ed
  • #788
  • Nov 16, 2008 10:04am Nov 16, 2008 10:04am
Quoting silenroc
This is a great system. Just to let everyone know. i shoot for 10 pips during the NY session. I do not use a stop loss because I use a micro account and the drawdown is not really a concern. price corrects and I get my profit in a few days or a week. I trade 9 currency pairs using this strategy and trade .30 lots with each one. so .30 x 9 = 27.00 a day. My margin is 400 to 1 so my trading margin is very low. for every .10 lot it is 2.50 of margin. And that is standard for each currency pair.

Just wanted to share my strategy and good luck to everyone...
Hi!

Which currency pairs do you trade? Thanks.
  • #789
  • Nov 17, 2008 8:34am Nov 17, 2008 8:34am
These are the pairs. the .30 lot size is a percentage of my account.
aud/usd eur/jpy eur/usd gbp/jpy gbp/usd nzd/usd usd/cad usd/chf usd/jpy

aud/chf I think i will be doing that one for the hour setting and tp of 50 pips
  • #790
  • Nov 17, 2008 1:58pm Nov 17, 2008 1:58pm
Hey fellow traders,

The big dog breakout system didn't work for me today, well i did managed to get out with a small profit because of my stoploss (and my offset of 5 pips), but I'm thinking here what could be the reason for the fairly relaxed GBP/USD today anyone with some ideas? as far of the news goes nothing really was concerning today. I did a little investigation of my own and put on the pivot points just to see and I could see that the big dog box was in the middle of the weekly pivot point, also afterwards the priceaction tended to turn around this one, but since its not in the ruleset of the big dog strategy I don't make any conclusion of that.
  • #791
  • Nov 17, 2008 9:47pm Nov 17, 2008 9:47pm
Hi CT, I have 2 questions with my attempted answers. Could you go over this and correct me? Thanks.

1. As the 7-9am Newyork timeframe is used for this breakout, I wonder what would be the ideal times to define the box for Europe and Asian sessions?

As I notice, the actual time for NewYork to open is 8am Newyork time, then 7am is 1 hour earlier and 9 am is 1 hour after the session is opened. Would the same apply for London and Asian sessions ( meaning 1 hour earlier and 1 hour after of each session that it actually opens) ?

Therefore, we know that Frankfurt opens at 2am NewYork time, then the box would be at 1am to 3am NewYork time for Frankfurt session. As for the Tokyo session starting at 6pm Newyork time, then the box would be at 5pm-7pm Newyork time. IS THIS CORRECT ?

2. The Europe and Asian sessions each has more than one opening times, (such as Frankfrurt starts out 1 hour before London, and Sydney/Australia starts out 2 hours before Tokyo), for that matter, how would you define the box ?

Should you wait for all of them open then define the box longer than the usual 2 hour like in 7am-9am US session? Or should you pick only one session? or should you wait for the last opening time and use the first opening to further determine the momentum of trend?

Thanks in advance CTguy.

(PS: a note for all traders reading this thread. From my personal experience with this breakout system, you do not need to complicate the already simple system, I have seen many
of you confuse yourself with all the lines, indicators, and endless programming, EA,.... sometimes simplicity is the best strategy. For me, I just use the drawing tool to put 2 vertical lines and 2 horizontal lines, and it works great because it less confuses your eyes and minimizing your chances of overtrading.

The trick is setting the stoploss depending on how aggressive you are and accept it if it is triggered. And if you lose, wait for the next setup and do it again, you will find that the ratio of winning is much higher than losing.

I have seen many of you even debating onto what time (9:15am or 9:30am) or at what exact pip of overshoot to put the buy or sell entry, Well , all these are irrelevant!!! Just use the common sense, you have to think alittle and do not expect others to do the homework for you. For example, if the High has been breached, then I do not enter into the trade immediately, I would wait to see if its momentum is strong enough and got about 10 pips past the breaching line, then I would enter for Long trade. If the momentum in this scenario is not strong enough, and the high has been breached only 2, 3 pips, you will see the candles to pull back inside the box, so the trick is you wait for the candles to go down and up breaching the high again and if they go strong passing the breaching line again for 7- 10 pips, then get in for the Buy.

Always define your reasonable stoploss, and if you lose it, wait for the next trade, and you win/loss ratio is always high, and that would give you the profit. If your account is large enough then setting stoploss at the other low or high would be okay too. Trust me, it is just simple as that.
  • #792
  • Nov 17, 2008 9:54pm Nov 17, 2008 9:54pm
The system did work according to instructions. I got my 10 pips my friend.

Quoting Irix
Hey fellow traders,

The big dog breakout system didn't work for me today, well i did managed to get out with a small profit because of my stoploss (and my offset of 5 pips), but I'm thinking here what could be the reason for the fairly relaxed GBP/USD today anyone with some ideas? as far of the news goes nothing really was concerning today. I did a little investigation of my own and put on the pivot points just to see and I could see that the big dog box was in the middle of the weekly pivot point, also afterwards the priceaction tended to...
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #793
  • Nov 17, 2008 10:00pm Nov 17, 2008 10:00pm
Hey my friend. Unfortunately I can't answer your question since this system was only designed to be traded for the time frames posted using just the GBP/USD pair. There are a few other systems that have similar trading methods using other pairs on different trading times and sessions if you do research on this forum. Sorry I can't be of more help.

Wish you many pips

Quoting fiborex38
Hi CT, I have 2 questions with my attempted answers. Could you go over this and correct me? Thanks.

1. As the 7-9am Newyork timeframe is used for this breakout, I wonder what would be the ideal times to define the box for Europe and Asian sessions?

As I notice, the actual time for NewYork to open is 8am Newyork time, then 7am is 1 hour earlier and 9 am is 1 hour after the session is opened. Would the same apply for London and Asian sessions ( meaning 1 hour earlier and 1 hour after of each session that it actually opens) ?...
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #794
  • Nov 17, 2008 10:01pm Nov 17, 2008 10:01pm
Excellent trading method .... keep up the pips.

Quoting silenroc
This is a great system. Just to let everyone know. i shoot for 10 pips during the NY session. I do not use a stop loss because I use a micro account and the drawdown is not really a concern. price corrects and I get my profit in a few days or a week. I trade 9 currency pairs using this strategy and trade .30 lots with each one. so .30 x 9 = 27.00 a day. My margin is 400 to 1 so my trading margin is very low. for every .10 lot it is 2.50 of margin. And that is standard for each currency pair.

Just wanted to share my strategy and good luck to everyone...
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #795
  • Nov 17, 2008 10:03pm Nov 17, 2008 10:03pm
Hey my friend... first pip... but I also look for the trend direction too.

Keep up the great work Jim

Quoting bigjim1958
Hi CTGUY:
Thanks for your quick reply and your continued support of this thread. Obvious question, but I'll ask anyway. First pip that breaks out of box triggers trade, no buffer in your system? Thanks for everything

Jim
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #796
  • Nov 18, 2008 3:06am Nov 18, 2008 3:06am
Quoting CTGUY
Hey my friend... first pip... but I also look for the trend direction too.

Keep up the great work Jim
Hallo George!

It is so good to see you posting here again! I am still getting adjusted to my new situation here, but I am getting back into the swing step by step! Talk to you in a bit, my friend!

Ciao!
Matt
  • #797
  • Nov 18, 2008 4:26am Nov 18, 2008 4:26am
Quoting Gnat
Hallo George!

It is so good to see you posting here again! I am still getting adjusted to my new situation here, but I am getting back into the swing step by step! Talk to you in a bit, my friend!

Ciao!
Matt
Hey Matt

It is always a pleasure to chat and catch up with a good friend. I am back and forth and don't have the time I used to have to post on this forum. I like the old forum pre-twee. I return to update this system and to answer questions and to catch up with friends. I am shooting you email to you.

George
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #798
  • Nov 18, 2008 12:43pm Nov 18, 2008 12:43pm
Hello there,

Another very strange day for GBPUSD. Today with loss and profit. The "breakout" did somehow happen but retracted quickly way down. My stoploss brought me out.
There was also a lot of speaks from USD and there will be one also from ECB later on.
Today I again saw the the price action was going around the weekly pivot point, but today I also put on 2x 34 EMA (High, Low) just to see if it was trending or not, and as I can see it is not trending from that point.
Suddenly it went downwards even more and I decided to take my short ordre from the big dog strategy and I made a profit from that in such a way that the total day I came out of the game on a positive side. Very strange.. it seemed like the liquidty just went from 100 to 0 and then again from 0 to 100.

Kindly regards
  • #799
  • Nov 18, 2008 2:25pm Nov 18, 2008 2:25pm
Hi just to make sure . the same think will b un 1H chart with 2 bars . right ?
  • #800
  • Nov 18, 2008 4:16pm Nov 18, 2008 4:16pm
Quoting yab
Hi just to make sure . the same think will b un 1H chart with 2 bars . right ?
The rules are posted on the first page. Sounds like you deviated from them.
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
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