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Nomoretoxic's breakout

  • #961
  • Nov 7, 2008 8:39am Nov 7, 2008 8:39am
Nice moves on U/J and U/Cad this morning. The NFP report made the range spreads on the G/U and E/U too big to trade in my opinion.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ucad11.07.08 .gif Size: 20 KB
Click to Enlarge Name: uj 11.07.08 .gif Size: 18 KB
  • #962
  • Nov 7, 2008 9:10am Nov 7, 2008 9:10am
Evasz,

Since you are only going for a 20 pip PT, how do you determine your stop loss? Last swing, 1:1, mental stop, other.

I like the 20 PT idea as well. However with the big moves in price action these days, I worry that a bounce off the buy/sell price will come back 20+ pips before going back the right direction. At 1:1 it's toast. What is your win rate?

Thanks!
  • #963
  • Nov 7, 2008 2:00pm Nov 7, 2008 2:00pm
Hi Hellcat I'm very new here just learning, ok the only time I take the trade jet where I see the brake out candle is not exceed 30 pips so my st is at the other side of the brake out candle,also I look at the pullback candle I like to see when the pullback candle happen and close outside of the box that gives me more confirmation to take the trade since my st is small, the mental st dose not work for me I tried and I always last big amount.
As I said earlier I'm just practicing I learn a lot from some of the good traders here thanks for Nomo and all of you.

E
Blessed are they who maintain justice, who constantly do what is right.
  • #964
  • Nov 10, 2008 7:13am Nov 10, 2008 7:13am
well...

seems like everyone is busy making positive pips here!!!

good trading to all !!

cheers
  • #965
  • Nov 10, 2008 7:27am Nov 10, 2008 7:27am
I just found this thread last week and have been following it.

I just got out of a short trade on the EUR/USD on break of NY 7:00 - 9:00 box.

Got in at 1.2857 and after got to 20 pips profit, trailed the stop 20 pips. Finally stopped out at 1.2821 for 36 pip profit.

System is easy to follow. I made one stupid mistake that cost me 20 pips. I KNEW there would be strong support at 1.2800 and I should have put TP there but was foolishly hoping for miracle and long runner.

Thanks for the system and all the information in the thread.
"Money is easy to make, but hard to keep" - FWV 1975
  • #966
  • Nov 10, 2008 7:29am Nov 10, 2008 7:29am
Here are my trades at the present day.

6:28 gmt gbpusd sell @ 1.5761 (+56)
sl: 1.5806
tp:1.5661

7:36 gmt eurusd sell @ 1.2814 (-52)
sl: 1.2866
tp: 1.2754

11:36 gmt eurusd buy @ 1.2905 (0)
sl: 1.2874
tp: 1.2945

14:22 gmt usdcad buy @ 1.1838 (+40)
sl: 1.1898
tp: 1.1878

14:50 gmt gbpusd sell @ 1.5687 (+30)
sl: 1.5750
tp: 1.5617
  • #967
  • Nov 10, 2008 8:03am Nov 10, 2008 8:03am
Quoting swakop
Here are my trades at the present day.

6:28 gmt gbpusd sell @ 1.5761 (+56)
sl: 1.5806
tp:1.5661

7:36 gmt eurusd sell @ 1.2814 (-52)
sl: 1.2866
tp: 1.2754

11:36 gmt eurusd buy @ 1.2905 (0)
sl: 1.2874
tp: 1.2945

14:22 gmt usdcad buy @ 1.1838 (+40)
sl: 1.1898
tp: 1.1878

14:50 gmt gbpusd sell @ 1.5687 (+30)
sl: 1.5750
tp: 1.5617
Hi Swakop - nice trades but I have some questions:

1 - was your early g/u trade a classic box-trade? if so, what times do you use to construct your London/Europe box?

2- your u/cad trade, wouldn't you enter at the breakout high plus spread as your entry price? Same goes for any buy trades but in particular those pairs with the bigger spreads. Or was the 1.1838 entry the bid (sell) price?

Regards
Gossy
  • #968
  • Nov 10, 2008 8:12am Nov 10, 2008 8:12am
Good Monday morning (NY session). Classic set ups on e/j, e/u, u/cad. Closed out at +20 on each pair within a short period of time. See attached charts. Yeah....I could have gone for more, but the 9 to 5 kept me busy.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ucad11.10.08 .gif Size: 18 KB
Click to Enlarge Name: uj11.10.08 .gif Size: 18 KB
Click to Enlarge Name: eu11.10.08 .gif Size: 20 KB
  • #969
  • Nov 10, 2008 8:13am Nov 10, 2008 8:13am
Sorry....the above should say U/J and not EJ. Thanks.
  • #970
  • Nov 10, 2008 8:16am Nov 10, 2008 8:16am
I am very happy for you guys!

As I mention in one of my posts, consistency is the key.

As long as you have money management in check, you'll come ahead .

Cheers
  • #971
  • Nov 10, 2008 8:28am Nov 10, 2008 8:28am
Quoting Gossy68
Hi Swakop - nice trades but I have some questions:

1 - was your early g/u trade a classic box-trade? if so, what times do you use to construct your London/Europe box?

2- your u/cad trade, wouldn't you enter at the breakout high plus spread as your entry price? Same goes for any buy trades but in particular those pairs with the bigger spreads. Or was the 1.1838 entry the bid (sell) price?

Regards
Gossy
Hi Gossy,
1 - was your early g/u trade a classic box-trade? if so, what times do you use to construct your London/Europe box?

I use for this trade my asian box - 00:00 til 01:59 gmt. I trade this box til 06:30 gmt
My European box 04:55 til 6:59 gmt.

2- your u/cad trade, wouldn't you enter at the breakout high plus spread as your entry price? Same goes for any buy trades but in particular those pairs with the bigger spreads. Or was the 1.1838 entry the bid (sell) price?

Breakout plus/minus spread, buy orders once more spread.
I've always E/U 2 pips, G/U 3 pips and U/C 3 pips spread.

I hope, I could help.

Cheers swakop
  • #972
  • Nov 10, 2008 9:59am Nov 10, 2008 9:59am
Worked brillantly today for a bunch of US based currencies. Only took the EURUSD breakout though.
  • #973
  • Nov 10, 2008 3:32pm Nov 10, 2008 3:32pm
Hello All,

I was sidetracked last week. I did trade, but missed many of the good ones. It also reminded me that the system can be great, but you are still the determining factor.

Simply said, while I made 161 pips last week, I feel as though my "trading" and decision making was poor because i wasn't focused.

Seems like everyone was doing well last week. Congrats!

RR -
  • #974
  • Nov 10, 2008 3:38pm Nov 10, 2008 3:38pm
Sorry for the delayed response.

Currently trading the following pairs:

GBPUSD, EURUSD, AUDUSD, EURJPY, GBPJPY (depending on the spread), USDCAD, USDCHF (haven't taken a trade in about a week though), EURGBP

Trading with my normal 1-2%

RR -

Quoting nomoretoxic
RR, Tsquad, cheelu ..anyone following this method.

I would like to know how many pairs are you currently trading??

how are you spreading the risk across the board..??

Thanks.
  • #975
  • Nov 11, 2008 8:53am Nov 11, 2008 8:53am
RR

Don't worry, sometimes you just can't pull the trigger.

Although we're very conscious about risk,we can't forget about who we are.

As long as risk permits, we need play the market. No second guessing.

cheers.
  • #976
  • Nov 11, 2008 11:38pm Nov 11, 2008 11:38pm
Hi All,

Is any one else having problems trying to apply Cheelu's Boxbreakout indicator 2 times on the charts. One for London and one for USA session? One box shows up and the other disappears. I wanted to have a box for each session since I sometimes trade both.
  • #977
  • Nov 12, 2008 12:03am Nov 12, 2008 12:03am
Quoting ozziedave
Hi All,

Is any one else having problems trying to apply Cheelu's Boxbreakout indicator 2 times on the charts. One for London and one for USA session? One box shows up and the other disappears. I wanted to have a box for each session since I sometimes trade both.
Hi ozziedave,

It's possible. You open on the same chart 2 times the box. One box with the session number 1, the other with session number 2.

Cheers
  • #978
  • Nov 12, 2008 12:33am Nov 12, 2008 12:33am
Quoting swakop
Hi ozziedave,

It's possible. You open on the same chart 2 times the box. One box with the session number 1, the other with session number 2.

Cheers
Thanks swakop,

But I already tried that and it didn't work.
  • #979
  • Nov 12, 2008 3:32am Nov 12, 2008 3:32am
Hello people, My paper clip is not working for me to view the attachment so as to get the indicator.What do i do to make it work. can someone directed me to the latest cheelu boxbreakout indicator pls. Thanks. Nerry.
  • #980
  • Nov 12, 2008 3:47am Nov 12, 2008 3:47am
Here's cheelu's indicator.

http://www.forexfactory.com/attachme...2008%2012:17am
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