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

  • #801
  • Nov 18, 2008 4:18pm Nov 18, 2008 4:18pm
Quoting Irix
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...
Glad you profited from the move. Place your emas before the trade to get heads up. Consider using the emas that are on this thread for a better heads up.

Wish you many pips!
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #802
  • Nov 18, 2008 4:37pm Nov 18, 2008 4:37pm
Quoting CTGUY
Hey my friend... first pip... but I also look for the trend direction too.

Keep up the great work Jim
Thanks for your quick reply and all the help you give everyone here. You mentioned on a previous post you would like to use this breakout strategy on different sessions, but time prevented it, has that changed? Also,do you use any of the indicators on this site to create your box, or just 2 horizontal and 2 vertical lines. Please keep stopping by from time to time and keep people focused on the ORIGINAL RULES, lol.

Jim
  • #803
  • Nov 18, 2008 5:03pm Nov 18, 2008 5:03pm
Quoting Irix
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...
Breakout strategy is best used with it general trend in mind.... example...GBP/USD general trend is down..

So u shd be bias to take a short...

If u r taking a Long position, u can't/shouldn't have same SL/TP standard as Short position... U shd be more careful or fast to act...by using trail stop etc...

Like Our Guru George said.."Trend is your friend"....
Sonic
  • #804
  • Nov 18, 2008 6:25pm Nov 18, 2008 6:25pm
Quoting bigjim1958
Thanks for your quick reply and all the help you give everyone here. You mentioned on a previous post you would like to use this breakout strategy on different sessions, but time prevented it, has that changed? Also,do you use any of the indicators on this site to create your box, or just 2 horizontal and 2 vertical lines. Please keep stopping by from time to time and keep people focused on the ORIGINAL RULES, lol.

Jim

Hey my friend... I never had an opportunity to test on other pairs or timeframes due to projects other than the forex. I do know that there are other threads that have did this research. I am not aware how successful they were though. I do manually draw my two vertical and two horizontal lines for my boxes. I still also use the ema's (closed) yellow in color..3,5,8,10,12,15 and ema's (closed) red in color...30,35,40,45,50,60. These help immensely in determining trend direction.

I wish you many pips Jim

I made my 10 pips then caught the reversal on todays trade and did very well with it.
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #805
  • Nov 18, 2008 6:31pm Nov 18, 2008 6:31pm
Hi Guys!

I have been using this system with Ny box hours and I was wodering if anyone can tell me where I can get settings or ready indicator for Europan session or even for Asian.
Thank you for your help guys
Jack
  • #806
  • Nov 18, 2008 6:38pm Nov 18, 2008 6:38pm
Quoting jackfx
Hi Guys!

I have been using this system with Ny box hours and I was wodering if anyone can tell me where I can get settings or ready indicator for Europan session or even for Asian.
Thank you for your help guys
Jack
Jack, this system doesn't have a Euro/Asian session. You may want to use the search feature for another breakout system that uses these sessions. Type breakout in the search box.

Good Luck
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #807
  • Nov 18, 2008 7:25pm Nov 18, 2008 7:25pm
Quoting CTGUY
Jack, this system doesn't have a Euro/Asian session. You may want to use the search feature for another breakout system that uses these sessions. Type breakout in the search box.

Good Luck
Thank you very much...I think I will just mark my lines when Asia opens and trade after 9th candel when is close.I will do the same with Europe.
Thanks Guys
Jack
  • #808
  • Nov 18, 2008 7:39pm Nov 18, 2008 7:39pm
Quoting CTGUY
Hey my friend... I never had an opportunity to test on other pairs or timeframes due to projects other than the forex. I do know that there are other threads that have did this research. I am not aware how successful they were though. I do manually draw my two vertical and two horizontal lines for my boxes. I still also use the ema's (closed) yellow in color..3,5,8,10,12,15 and ema's (closed) red in color...30,35,40,45,50,60. These help immensely in determining trend direction.

I wish you many pips Jim

I made my 10 pips then caught the reversal...
Nice job today on the reversal. Quick question, is your 15 s/l including the spread or is it 15 plus the spread. Thanks for your help.

Jim
  • #809
  • Nov 18, 2008 7:46pm Nov 18, 2008 7:46pm
Quoting jackfx
Hi Guys!

I have been using this system with Ny box hours and I was wodering if anyone can tell me where I can get settings or ready indicator for Europan session or even for Asian.
Thank you for your help guys
Jack
We can expect some move in Euro session but I suggest you better the skip the asian session...

Sonic
  • #810
  • Nov 18, 2008 9:40pm Nov 18, 2008 9:40pm
Quoting bigjim1958
Nice job today on the reversal. Quick question, is your 15 s/l including the spread or is it 15 plus the spread. Thanks for your help.

Jim

Hey buddy....with the spread.
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #811
  • Nov 18, 2008 11:45pm Nov 18, 2008 11:45pm
Hi,

I have been observing this system as per the rules on the first page which is that the original time frame is 14:00 to 16:00 GMT(10-12EST before the DST). This makes sense as we wait for all major news to be over and see which direction market breaks out. But now I see that the time frame is now 7:00 - 9:00 EST which is before the news is released. May I know what is the reason for this change? Sorry if I had missed out the explanation in the forum but I would really appreciate it if someone can clear this up for me. Many thanks!
  • #812
  • Nov 19, 2008 6:38am Nov 19, 2008 6:38am
Quoting piptrees
Hi,

I have been observing this system as per the rules on the first page which is that the original time frame is 14:00 to 16:00 GMT(10-12EST before the DST). This makes sense as we wait for all major news to be over and see which direction market breaks out. But now I see that the time frame is now 7:00 - 9:00 EST which is before the news is released. May I know what is the reason for this change? Sorry if I had missed out the explanation in the forum but I would really appreciate it if someone can clear this up for me. Many thanks!
The times were always 7 - 9 EST. I am not sure where you got the 10 - 12 EST time from.

Good Luck
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #813
  • Nov 19, 2008 6:40am Nov 19, 2008 6:40am
First off, I've read this thread from start to finish and would like to thank the main posters (CTGuy, DZNMRD) for sharing their knowledge, staying patient and ultimately remaining with the thread despite the hassles.
I've back tested and it looks great, made my first trade today (EUR/USD on London opening box so not actually the Big Dog system at all-am waiting for the first proper trade), and it instantly posed a question:


When the order is triggered and in play (assuming 2 lots have been opened with 2 separate TP targets), is the stop loss initially set at -15 from the entry point UNTIL the first TP level is reached, or is the trailing stop used straight away? The reason being, if the trailing stop is utilised immediately, the price goes in your direction for 5 points, then retraces down (assuming a long position), you would be stopped out at -10.

I understand that Money Management is discretionary in this system and that there may not be a definitive answer to this!
  • #814
  • Nov 19, 2008 7:19am Nov 19, 2008 7:19am
Quoting CTGUY
The times were always 7 - 9 EST. I am not sure where you got the 10 - 12 EST time from.

Good Luck
Hi,

I got the time 10-12 ESTfrom dmrd's first post:

"Hi,

Everyones sharing such a lot on ForexFactory, I thought i will take the time to share with all too what i have learnt that works.

I just got this idea from a friend, who gets this idea from another. (nerd)
We called it the Big Dog 1400-1600 USD Breakout Strategy. (Around US OPEN)

Its a simple strategy. You need not have any indicator, just the default ones found in your metatrader."


Does he mean 1400-1600 GMT cos that will mean around 10-12 EST. Sorry did i get this wrong? Also may I know the reasoning behind trading right after 9 ESTcos the news may cause the market to be very volatile? Or this there a post that you can point to me to understand this better? But according to the best of my knowldege, the US market only opens after 930 EST so why is the time calculated from 7 EST cos the market is closed at that time? Sorry that this is quite basic but your help to clarify this will be very much appreciated thanks.
  • #815
  • Nov 19, 2008 10:22am Nov 19, 2008 10:22am
Hi,

With all the discussion regarding the correct time setting, I am assuming GMT 1100 to GMT1300 which is 5AM-7AM CST.

With that time frame in mind and applied to my IBFX account, there apparently was a false Sell breakout of about 15-20 pips @ 7:15AM CST. This occurred right before that humongous move upward of nearly 200 pips or so.

Would someone PLEASE confirm that I have my chart setup correctly, and that today's activity for the strategy was a LOSING trade?

Many thanks,
Bob in Wisconsin
  • #816
  • Nov 19, 2008 1:40pm Nov 19, 2008 1:40pm
Quoting CTGUY
If you have any questions, just let me know. Traders that join in and submit their ideas are not taken as changes to this system.

Hola CTGUY

No hablo ingles asi es que si alguien me puede ayudar a transmitirte mis dudas, les agradeceria.

1- Despues de la 9a. vela si la vela siguiente continua con la misma tendencia y me hace el quiebre debo entrar en esta vela o esperar un retroceso?

2. Cuantas velas mas o hasta que hora del dia puedo esperar a que se abran mis posiciones? Es decir si a las 3:00 p.m. no se ha activado ninguna operacion debo eliminarlas o hasta que hora puedo esperar?

3. El SL siempre debe ser el min o max de ese periodo? y en que momento puedo correr mi stop a cero o al pto de entrada.

4. Los pares a operar solo pueden ser los que cotizan con el US o se puede utilizar tambien en EUR/JPY?

5. Y por ultimo siempre antes de entrar debo mirar tendencia en 1H y 4H y si estan de acuerdo entrar en caso contrario no?

Muchas gracias por su colaboracion.
  • #817
  • Nov 19, 2008 2:00pm Nov 19, 2008 2:00pm
very nice and simple system....ive been trading this the past 3 weeks with good results. The ema's act as a good filter if you only trade in the direction of the trend. Ive been trading on my mobile at work using dailydx charts lol. Thx for sharing.

- Hondakorn
CRAIGSLIST BARTERING CHAMPION
  • #818
  • Nov 19, 2008 3:44pm Nov 19, 2008 3:44pm
Hello fellow traders ,

First I wanna say thank you CTGUY for response on my doing.
Since this system is new for me, I today found out that I was using a wrong time on the indicator.
As I can see in many other post we are dealing with the time 7AM-9AM New York time, so my conversion was a little wrong. Therefore I had problems the last 3 days.
Now I havn't read through all the pages at all but searched for EMA in the thread and nothing came op. Could any of you please specify the indicators you might use for acknowledge the trend and trade. Every response is great apreciated.
Maybe you Hondakorn can just quickly name the EMA you are using ? or CTGUY

Kindly regards to all
  • #819
  • Nov 19, 2008 4:48pm Nov 19, 2008 4:48pm
Quoting Irix
Hello fellow traders ,

First I wanna say thank you CTGUY for response on my doing.
Since this system is new for me, I today found out that I was using a wrong time on the indicator.
As I can see in many other post we are dealing with the time 7AM-9AM New York time, so my conversion was a little wrong. Therefore I had problems the last 3 days.
Now I havn't read through all the pages at all but searched for EMA in the thread and nothing came op. Could any of you please specify the indicators you might use for acknowledge the trend and trade....
ema's: 3,5,8,10,12,15 in yellow for short term trend
ema's: 30,35,40,45,50,60 in red for long term trend
CRAIGSLIST BARTERING CHAMPION
  • #820
  • Nov 19, 2008 5:54pm Nov 19, 2008 5:54pm
Actually, there is no definitive answer. It depends on how big your account is for money management. Mine can take a beating easily. As for today, the system was powerful. Pips were flying everywhere and I grabbed more than my 10 usual pips.

Good Luck

Quoting bootsyjam
First off, I've read this thread from start to finish and would like to thank the main posters (CTGuy, DZNMRD) for sharing their knowledge, staying patient and ultimately remaining with the thread despite the hassles.
I've back tested and it looks great, made my first trade today (EUR/USD on London opening box so not actually the Big Dog system at all-am waiting for the first proper trade), and it instantly posed a question:


When the order is triggered and in play (assuming 2 lots have been opened with 2 separate TP targets), is the stop loss...
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
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