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

  • #841
  • Nov 20, 2008 9:23am Nov 20, 2008 9:23am
Hi CTGUY:
Quick question, made 10 pips this morning. Price broke out +10, then down to +6, then up to +15, then down to + 8,etc. Once the price breaks past 10, do you not let it go down below 10, closing the trade as soon as it does, to prevent a winning trade turning into a loser? Or do you let it jump back and forth around 10? Also, I now you use a 15 pip trailing stop once it hits 30 pips profit. If the price is between say 10 and 30 pips profit, if it retrace back to 10 pip profit, do you close at 10. Sorry if this rambles, but I closed out today at +9 and it ended up going to +30. Wanted to know if you take the 10 right away unless it just blows past it with some authority.

Thanks,
Jim
  • #842
  • Nov 20, 2008 10:57am Nov 20, 2008 10:57am
Excellent system - thank you very much.
Can´t wait to trade it live..... Did good on demo so far with gbp/usd.
Very honorable of you posting such a successful trading approach.
  • #843
  • Nov 20, 2008 11:09am Nov 20, 2008 11:09am
Anybody trying to trade the breakout on london or frankfurt time ?
Or is "Big Ben" a problem in this case ?
  • #844
  • Nov 20, 2008 2:01pm Nov 20, 2008 2:01pm
Hello Globalinvest,

I'm just curious of the results of the demo you did on the big dog system.
How long did you do the demo and how was your TP level on each trade ?

Kindly regards from the neighbour country
  • #845
  • Nov 20, 2008 5:35pm Nov 20, 2008 5:35pm
Another very successful day with this strategy!
  • #846
  • Nov 20, 2008 9:50pm Nov 20, 2008 9:50pm
Hello,
Why the blue and red box never stop on the chart, can i set a limit like 7 hours¿?

Sorry my english is bad.
thanks a lot.
Attached Image (click to enlarge)
Click to Enlarge Name: box.gif Size: 52 KB
  • #847
  • Nov 21, 2008 8:52am Nov 21, 2008 8:52am
Quoting CTGUY
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
Hi,

Yes I think its wonderful if we are able to get 10 pips consistently from this strategy everyday. But if stop loss is about 50-80 pips, it will take only 1 loss to wipe out 9 winners. So I was wondering is it prudent to straight away shoot for 10 pips and set a stop loss of 20 pips. This means that if i lose 20 pips, I am out and I try again tomorrow. Do you think this is a practical approach?

Thanks, any advice will be greatly appreciated!
  • #848
  • Nov 21, 2008 9:05am Nov 21, 2008 9:05am
Quoting piptrees
Hi,

Yes I think its wonderful if we are able to get 10 pips consistently from this strategy everyday. But if stop loss is about 50-80 pips, it will take only 1 loss to wipe out 9 winners. So I was wondering is it prudent to straight away shoot for 10 pips and set a stop loss of 20 pips. This means that if i lose 20 pips, I am out and I try again tomorrow. Do you think this is a practical approach?

Thanks, any advice will be greatly appreciated!

who said anything about that large of a sl??
CRAIGSLIST BARTERING CHAMPION
  • #849
  • Nov 21, 2008 9:58am Nov 21, 2008 9:58am
Quoting hondakorn
who said anything about that large of a sl??

If our stop loss is to be placed at the other end of the box, its not uncommon for stop loss to be between 50-80 pips or more, isnt it so? If not then what is the average stop loss? Thanks
  • #850
  • Nov 21, 2008 10:06am Nov 21, 2008 10:06am
Quoting piptrees
If our stop loss is to be placed at the other end of the box, its not uncommon for stop loss to be between 50-80 pips or more, isnt it so? If not then what is the average stop loss? Thanks
I thought it was a 15pip trailing stop like the 1st post said??
CRAIGSLIST BARTERING CHAMPION
  • #851
  • Nov 21, 2008 10:10am Nov 21, 2008 10:10am
Quoting hondakorn
I thought it was a 15pip trailing stop like the 1st post said??
Hi,

Thanks for quick response. May i know which #post so I can refer to it to learn more?
  • #852
  • Nov 21, 2008 10:10am Nov 21, 2008 10:10am
i use a variable stop based on the range.....not a set 15....but thats my view....
CRAIGSLIST BARTERING CHAMPION
  • #853
  • Nov 21, 2008 10:11am Nov 21, 2008 10:11am
http://www.forexfactory.com/showpost...26&postcount=1
CRAIGSLIST BARTERING CHAMPION
  • #854
  • Nov 21, 2008 10:13am Nov 21, 2008 10:13am
Quoting hondakorn
http://www.forexfactory.com/showpost...26&postcount=1

OK thanks, i must have missed that.
  • #855
  • Nov 21, 2008 10:18am Nov 21, 2008 10:18am
Hi,

Does that mean that when we initiate our buy, our stop loss is trailed at 15 pips. So for example, if the breakout is at 1.5900, we buy at 1.5901. Then if it goes down by 15 pips to 1.886, we are stopped out.

Thanks again
  • #856
  • Nov 21, 2008 10:23am Nov 21, 2008 10:23am
Anyone just using tp 15 sl 15? 1 trade a day?
  • #857
  • Nov 21, 2008 10:34am Nov 21, 2008 10:34am
i noticed that when i used the 15tr i got stopped out a lot right before the "breakout" of the box and it would continue in the original direction. According to the rules, it is a 15trail but i think that was for the smaller range of the box as stated in the 1st post. Now that we are dealing with larger ranges, i think the tp might be adjusted?? plz correct me if i am wrong someone....
CRAIGSLIST BARTERING CHAMPION
  • #858
  • Nov 21, 2008 10:40am Nov 21, 2008 10:40am
but what if your looking for only 15 pips a day..

Heres what I am seeing put your entry 5 pips above or below the highs and low....

So if the high of the day is 1.500 put an pending order at 1.5005 for 15 pips tp sl...

Seems would work well when backtesting
  • #859
  • Nov 21, 2008 11:02am Nov 21, 2008 11:02am
not a bad idea especially when trading with the trend.....
CRAIGSLIST BARTERING CHAMPION
  • #860
  • Nov 21, 2008 11:15am Nov 21, 2008 11:15am
Quoting hondakorn
not a bad idea especially when trading with the trend.....
Do you mean looking at the overall current trend?

using the 15 or 5 min charts?
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