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

  • #821
  • Nov 19, 2008 5:57pm Nov 19, 2008 5:57pm
Quoting piptrees
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)...
The best thing to do is to set your breakout box for 7-9am EST. You can play with time zone setting you use actually, but for this system, I choose 7-9am EST.
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #822
  • Edited 7:07pm Nov 19, 2008 6:05pm | Edited 7:07pm
Quoting Bobcat2
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
Hey Bob... your times are off by one hour. I am also CST. Set your box at 6am to 8am in the morning. On FXDD, the broker time is 1400 - 1600. I hope this helps.

Attached is a pic to help you or others to compare the box timeframes by just comparing the movement. Todays trades on both sides were excellent.

Good Luck
Attached Image (click to enlarge)
Click to Enlarge Name: bg.gif Size: 18 KB
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #823
  • Edited 6:52pm Nov 19, 2008 6:08pm | Edited 6:52pm
Question.... why in the hell are you posting in another language when your other postings on this forum is in excellent english? If you want an answer, I expect you to post correctly as you have in the other postings.

Quoting Mariu
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...
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #824
  • Nov 19, 2008 6:10pm Nov 19, 2008 6:10pm
Quoting hondakorn
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
Thanks for jumping in since I am not here most of the time. Don't forget to set the ema's to close settings.

Much appreciated!
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #825
  • Nov 19, 2008 6:11pm Nov 19, 2008 6:11pm
Quoting hondakorn
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
You are more than welcome my barter champion friend.
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #826
  • Nov 19, 2008 6:30pm Nov 19, 2008 6:30pm
Quoting Bull
Hi Mitch, here is the Indicator, I hope that can help you.

The default value are following the rules (box between 7 to 9 am NYT) a Margin of 3 pips (above and below) the high and low for entry point, then 15 - 30 - 45 pips to profit, and the SL on the other side of the box.


Bull
Hi Bull

Could you be so kind at tell me how u can change your NY box indicator to London or Asia sessions?
THANK YOU
Jack
  • #827
  • Nov 19, 2008 6:54pm Nov 19, 2008 6:54pm
Gentlemen,

I hate to be a pain with this time issue, however, the difference between New York time and GMT is 5 hours right now. Shouldn't the box be set from 1200GMT to 1400GMT on the charts?

BTW, thanks for the continued support with this strategy CTGUY! Also glad to see a fellow aviator trading. Blue skies and many pips!

Best Regards.
  • #828
  • Nov 19, 2008 6:58pm Nov 19, 2008 6:58pm
Quoting xspowerx
Gentlemen,

I hate to be a pain with this time issue, however, the difference between New York time and GMT is 5 hours right now. Shouldn't the box be set from 1200GMT to 1400GMT on the charts?

BTW, thanks for the continued support with this strategy CTGUY! Also glad to see a fellow aviator trading. Blue skies and many pips!

Best Regards.
Yes,

7-9 Est = 12:00 - 14:00 GMT
It's NOT GAMBLING when the odds are in your favor
  • #829
  • Nov 19, 2008 7:02pm Nov 19, 2008 7:02pm
I see FXDD is off by 2 hours.. -I was under the impression that most brokers are set to GMT with the charts. This can be a little confusing for those using different brokers.

And for those backtesting, make sure you take into consideration daylight savings time! Other than that, I have had great success with this strategy.
  • #830
  • Nov 19, 2008 7:03pm Nov 19, 2008 7:03pm
Quoting xspowerx
Gentlemen,

I hate to be a pain with this time issue, however, the difference between New York time and GMT is 5 hours right now. Shouldn't the box be set from 1200GMT to 1400GMT on the charts?

BTW, thanks for the continued support with this strategy CTGUY! Also glad to see a fellow aviator trading. Blue skies and many pips!

Best Regards.
Hey my new friend... Brokers use different times in their systems. FXDD times are 1600 broker times equals 0900am nyt. By using the last picture, you should set the box according to my box settings without trying to use the times on the bottom. When you have the box set to look exactly like mine, you then look at the time settings on the bottom of the chart and these are your new trading times. I will amend pic to better explain.
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #831
  • Nov 19, 2008 7:05pm Nov 19, 2008 7:05pm
Quoting CTGUY
Hey my new friend... Brokers use different times in their systems. FXDD times are 1600 broker times equals 0900am nyt. By using the picture, you should set the box according to my box settings without trying to use the times on the bottom. When you have the box set to look exactly like mine, you then look at the time settings on the bottom of the chart and these are your new trading times. I will amend pic to better explain.
Ahhh, ok, that clears things up with the times! Thank you!
  • #832
  • Nov 19, 2008 7:10pm Nov 19, 2008 7:10pm
Quoting xspowerx
Ahhh, ok, that clears things up with the times! Thank you!

I only have one set of eyes... it is great to have another set looking in the direction I am not seeing. With your great question, you not only assisted me with the solution, you also helped out the other traders that had the same concern. Thanks for your immensely appreciated help my friend.
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #833
  • Nov 19, 2008 8:22pm Nov 19, 2008 8:22pm
Quoting CTGUY
Question.... why in the hell are you posting in another language when your other postings on this forum is in excellent english? If you want an answer, I expect you to post correctly as you have in the other postings.

Excuse me I donīt speak english, I will make all the possible but you understand me



1 - after 9 candle if the candle following continuous with the same tendency and does break I should enter in this candle or wait a pullback?

2. how many candles or until hour of the day I can wait to that my positions open up? That is to say if at 3:00 pm any operation has not been activated should I eliminate them or until hour I can wait?

3. the SL always be the min or max of that period? and in that moment I can run my stop to zero or the entrance pto.


4. I should look at tendency in 1H and 4H and if they agree to enter otherwise not? In the indicator they do should the same colors (red or blue) in 1H and 4H to enter?

Thank you for your colaboration.

I hope you understand me
  • #834
  • Nov 20, 2008 12:49am Nov 20, 2008 12:49am
Quoting CTGUY
Hey Bob... your times are off by one hour. I am also CST. Set your box at 6am to 8am in the morning. On FXDD, the broker time is 1400 - 1600. I hope this helps.

Attached is a pic to help you or others to compare the box timeframes by just comparing the movement. Todays trades on both sides were excellent.

Good Luck
CTGUY,

Thanks so much for unraveling the correct time frame for me!

From your example, if I am correct, the top of the box ending @ 8:15AM was 1.5147; then you enter 1 pip above that @ 1.5148? SL set @ 15 pips; TP set @ 10 pips or more? Are you setting pending orders above/below the box or using an EA? If so, which EA?
  • #835
  • Nov 20, 2008 1:46am Nov 20, 2008 1:46am
Quoting Bobcat2
CTGUY,

Thanks so much for unraveling the correct time frame for me!

From your example, if I am correct, the top of the box ending @ 8:15AM was 1.5147; then you enter 1 pip above that @ 1.5148? SL set @ 15 pips; TP set @ 10 pips or more? Are you setting pending orders above/below the box or using an EA? If so, which EA?
Hey my friend

The entry was correct. I actually manually trade the s/l instead of setting one through broker.

I don't use an EA. I don't trust them with my account. One glitch and I can lose a lot of money. I do have a good friend named Nathan that is on this forum that has an excellent EA for this system and it works on several pairs.
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #836
  • Nov 20, 2008 1:52am Nov 20, 2008 1:52am
Quoting Mariu
Excuse me I donīt speak english, I will make all the possible but you understand me



1 - after 9 candle if the candle following continuous with the same tendency and does break I should enter in this candle or wait a pullback?

2. how many candles or until hour of the day I can wait to that my positions open up? That is to say if at 3:00 pm any operation has not been activated should I eliminate them or until hour I can wait?

3. the SL always be the min or max of that period? and in that moment I can run my stop to zero or the entrance...
#1 - enter at breakout
#2 - if your trade doesn't occur 7 hours after the box ends, you don't trade.
#3 - a lot of people don't understand how stop losses are set. It depends on your individual account size. You determine your own stop loss. I can tell you how to jump into the trades, it is up to you when you decide to jump out as with all forex trading systems.
#4 - look at 1H, 4H, and daily chart trends and try to trade in same direction.

In future, it is wise to communicate in english in this forum. If you see the thread in english, then chat in english.
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #837
  • Nov 20, 2008 4:22am Nov 20, 2008 4:22am
Quick questions:

(1) Which currency pairs are we using with the US Open? I am currently trading just the EUR/USD.

(2) Is anyone trading this strategy with the London Open? Which currency pairs?

Many thanks,
Bob
  • #838
  • Edited 7:01am Nov 20, 2008 6:57am | Edited 7:01am
Hi all
I used to trade this using 9 currency pairs but it got to time consuming to enter all the orders. I just trade 1. GBP/JPY which gives me a consistent 10 pips. Lots determine how much you make, not how many pips. The spread from my broker is 2-4 on this pair. Sometimes I will have it break out and my stop loss will be the low of the candle before. 9 times out of 10 I always get 50 - 100 pips. I also use 1 hr time frame and my times are from 0500 est to 0800 est. The 0800 candle goes to 0900 est. I know this is different than the original but the main banks here open up between 900 and 930. I 0800 is start of NY but all the exchanges open at 0930 and that is when the volatility increases.
This is my trading strategy
Good luck guys and gals

Ed
  • #839
  • Nov 20, 2008 7:06am Nov 20, 2008 7:06am
Quoting jackfx
Hi Bull

Could you be so kind at tell me how u can change your NY box indicator to London or Asia sessions?
THANK YOU
Jack
go to indicator settings and its either the 2nd or 3rd item down....default it displays "1500" and you change that time accordingly. Just set the end of the box time and it does the rest. I prefer to manually draw imho
CRAIGSLIST BARTERING CHAMPION
  • #840
  • Nov 20, 2008 9:06am Nov 20, 2008 9:06am
another good day with this system, ive got my 10pips. Im noticing smaller tp goals get hit more often....i wish i would have started out with smaller goal.....i probably would have been more consistent lol
CRAIGSLIST BARTERING CHAMPION
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