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Another great Breakout GBP/JPY System (Dachel's Simple system)

  • #21
  • Jun 27, 2008 2:43am Jun 27, 2008 2:43am
Quoting Quico
So, you do not recommend to enter a position if it moves in the opposite direction? Or only not to double it?
No I don't. Maybe you can double lots and go for the half so you end like BE but that's too risky. You can backtest your theory but I did and I have bad experience with it. Anyway try backtesting and let me know what you think.

Best regards
  • #22
  • Jun 27, 2008 2:59am Jun 27, 2008 2:59am
Our Range was more than 200 so we don't enter the trade today.

Until Sunday then

Have a great Weekend.
  • #23
  • Edited 9:33am Jun 27, 2008 7:55am | Edited 9:33am
Hi dachelm,
what exactly is your periodBegin & periodEnd value?
Is it 03:00/04:00 or 04:00/08:00?
I mean for the Panca Eagle indi on TFH4.
Need calibration here

TIA
  • #24
  • Jul 1, 2008 12:55am Jul 1, 2008 12:55am
Quoting itangsanjana
Hi dachelm,
what exactly is your periodBegin & periodEnd value?
Is it 03:00/04:00 or 04:00/08:00?
I mean for the Panca Eagle indi on TFH4.
Need calibration here

TIA
You are right
04:00-08:00 is the period. But if you are going to use the indicator in the 4h chart I suggest you to set up the range 0:00-5:00 because if you input the 08:00 it will get the next candle too. so set up as I told you only if you are going to use the 4h chart. Wich I strongly recommend to avoid confutions ok?
Thanks
  • #25
  • Jul 1, 2008 1:04am Jul 1, 2008 1:04am
The range was more than 200 again so we pass on this one too.
  • #26
  • Jul 1, 2008 2:40am Jul 1, 2008 2:40am
hi dachelm, thanks for sharing this system. Looks good on Cable too with perhaps a channel size no greater than 100pips.

If one order gets triggered, why do you cancel out the other one?
  • #27
  • Jul 1, 2008 2:42am Jul 1, 2008 2:42am
Quoting Trumpcard
hi dachelm, thanks for sharing this system. Looks good on Cable too with perhaps a channel size no greater than 100pips.

If one order gets triggered, why do you cancel out the other one?
I got a bad results letting the two open. But if back test your ideas and share we can improve this system wich looks good so far, thats the reason Im sharing.

Thanks for your interest.
  • #28
  • Jul 1, 2008 7:25pm Jul 1, 2008 7:25pm
Quoting dachelm
You are right
04:00-08:00 is the period. But if you are going to use the indicator in the 4h chart I suggest you to set up the range 0:00-5:00 because if you input the 08:00 it will get the next candle too. so set up as I told you only if you are going to use the 4h chart. Wich I strongly recommend to avoid confutions ok?
Thanks
dachelm,
thanks for the clarification ..
  • #29
  • Sep 4, 2008 8:14pm Sep 4, 2008 8:14pm
NIce one...
Any update from the thread starter lately...?

sonic
  • #30
  • Sep 4, 2008 8:18pm Sep 4, 2008 8:18pm
Nice innovation. Thank you for sharing your setup.

"will work"

Watch your wording..... you can't guarantee anything with this method.

Quoting dachelm
So the second candle of the day will work.
  • #31
  • Sep 4, 2008 8:20pm Sep 4, 2008 8:20pm
And if you had lost it.... ??

Quoting Quico
I had a loss too, but I have doubled the position when it moved short and I had a profit!
  • #32
  • Sep 4, 2008 8:27pm Sep 4, 2008 8:27pm


Quoting billbss
I don't need an indicator to find the 0400 4H candle, if that's the one it is.
In trading, there is no bullshit. You either make money or you don't.
  • #33
  • Oct 16, 2008 7:00am Oct 16, 2008 7:00am
thank you very much for sharing, great set-up, Just wonder where can I get the indicator?
fishing for pips
  • #34
  • Oct 16, 2008 7:55am Oct 16, 2008 7:55am
it looks like a panca to me http://www.forexfactory.com/showthread.php?t=67723
I use 4h TF. Does any one uses it??
  • #35
  • Nov 11, 2008 1:02am Nov 11, 2008 1:02am
where's the TS?
  • #36
  • Nov 24, 2008 8:01am Nov 24, 2008 8:01am
Is anyone still using this method?
  • #37
  • Dec 6, 2008 3:05pm Dec 6, 2008 3:05pm
Quoting dachelm
Hello everybody.

Im posting my new strategy here, this is my first post in this site and I wish you happy pips with it.

I used (IBFX) to perform the back test.

Here's the deal.

1. Open the 4 hour chart
2. Take the Hi and Lo of the second candle of the day (GMT)
3. Place an Buy order 10 pips above the Hi and 10 pips below the Lo
(you can use the Eagle Breakout Indicator for easy visualization)
4. When the price hit an order cancel the other.
5. You should place your SL at the other side of the channel.
(don't enter the trade if the channel...
Hi Dachelm,

Thank you for sharing this method and it is still relevant today. I have tested it and it works very well. Please can you sent me the indicator and the EA. Many thanks.

Gregoga.
  • #38
  • Dec 8, 2008 5:05pm Dec 8, 2008 5:05pm
Quoting gregoga
Hi Dachelm,

Thank you for sharing this method and it is still relevant today. I have tested it and it works very well. Please can you sent me the indicator and the EA. Many thanks.

Gregoga.
sure I will upload it to my initial post for anybody who want to download it.

And Im glad that this method is working for you.
  • #39
  • Dec 8, 2008 5:24pm Dec 8, 2008 5:24pm
Hi,

I would also highly appreciate the indicator and the EA. Thanks for a great system.

Cheers

Archie

Quoting dachelm
sure I will upload it to my initial post for anybody who want to download it.

And Im glad that this method is working for you.
  • #40
  • Dec 8, 2008 5:28pm Dec 8, 2008 5:28pm
I don't have a EA for this. Just the indicator. Sorry
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