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

  • #921
  • Dec 3, 2008 7:54am Dec 3, 2008 7:54am
Quoting Bobcat2
No wonder...trading hasn't started, yet.
anyway, I thought the box was 11:00 to 13:00 gmt? Can't believe I read the whole thread and got that wrong.

back to page 1: 7am-9am New York time...doh

at least I can try again in about 15 minutes.
Isolate yourself from the herd
  • #922
  • Dec 3, 2008 8:12am Dec 3, 2008 8:12am
First off this system rocks. This was a day of days for it during the London session. Any way I have a question for you guys. Is it ok to put your order in slightly before 9 am if there is a well defined base? Not much before but like 10 or 15 minutes? I just had an excellent trade with system on a usd/cad long. I put my order in at 8:50 est. I did this because common sense told me it was such a well defined base. Price broke around 8:55 and took off really nice. Any way this system is great.
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  • #923
  • Dec 3, 2008 8:13am Dec 3, 2008 8:13am
Quoting forexweasel
anyway, I thought the box was 11:00 to 13:00 gmt? Can't believe I read the whole thread and got that wrong.

back to page 1: 7am-9am New York time...doh

at least I can try again in about 15 minutes.
Yep...these time frames are complicated by posters who enter trades as EST when it's EDT, and the switcheroo back and forth with our daylight savings time. If people would simply post via GMT, it should alleviate this problem.

Anyway, right now is the time for entry. Good trading!
  • #924
  • Dec 3, 2008 8:18am Dec 3, 2008 8:18am
Quoting Guerrillawar
First off this system rocks. This was a day of days for it during the London session. Any way I have a question for you guys. Is it ok to put your order in slightly before 9 am if there is a well defined base? Not much before but like 10 or 15 minutes? I just had an excellent trade with system on a usd/cad long. I put my order in at 8:50 est. I did this because common sense told me it was such a well defined base. Price broke around 8:55 and took off really nice. Any way this system is great.
Well...if you change the entry time, you have effectively changed the system. If you allow discretion to enter the equation, it becomes almost impossible to determine the merits of a given system, because it is always in a state of flux.

However, if discretion is part of your trading acumen, then go for it! More power to you if you can better yourself.
  • #925
  • Dec 3, 2008 8:22am Dec 3, 2008 8:22am
Quoting Bobcat2
Yep...these time frames are complicated by posters who enter trades as EST when it's EDT, and the switcheroo back and forth with our daylight savings time. If people would simply post via GMT, it should alleviate this problem.

Anyway, right now is the time for entry. Good trading!
so is the idea to straddle the us open, ie have to adjust the box for DST or is the idea to end the box when the brits get back from lunch and say giddyap?

thanks.
Isolate yourself from the herd
  • #926
  • Dec 3, 2008 8:26am Dec 3, 2008 8:26am
Quoting Bobcat2
Well...if you change the entry time, you have effectively changed the system. If you allow discretion to enter the equation, it becomes almost impossible to determine the merits of a given system, because it is always in a state of flux.

However, if discretion is part of your trading acumen, then go for it! More power to you if you can better yourself.
Firstly thanks for your response. I disagree with you that system was dramatically changed at all. In a sense this system is a opening range breakout more so than a 7-9 range breakout. FX is a tricky place to use an ORB since you don't have a clear open and close. Therefore, the correct thing to do is use common sense as to what the opening range is. It may slightly differ from the 7-9 time frame. Any way I would really like to hear CTGUY's take on all this.
  • #927
  • Dec 3, 2008 8:44am Dec 3, 2008 8:44am
Quoting Guerrillawar
Firstly thanks for your response. I disagree with you that system was dramatically changed at all. In a sense this system is a opening range breakout more so than a 7-9 range breakout. FX is a tricky place to use an ORB since you don't have a clear open and close. Therefore, the correct thing to do is use common sense as to what the opening range is. It may slightly differ from the 7-9 time frame. Any way I would really like to hear CTGUY's take on all this.
Sorry...but 15 minutes difference does skew the results...and although I did not say it changes the strategy dramatically, it will in effect become a different startegy. If you have ever trade the news, you will relate to my frame of reference.

Maybe the change in order entry will be superior...maybe not. It may work better for awhile, then again, maybe not. Believe me...I was not critical of your approach. The point I was trying to make is that it becomes virtually impossible to guage the results of a strategy if you are constantly meddling with the rules. I am not suggesting your intuitive sense in trading is wrong...it just becomes a different animal...that's all. In fact, I wish I had better market instincts, myself. LOL

Good trading!
  • #928
  • Dec 3, 2008 8:50am Dec 3, 2008 8:50am
Hi all,

I am new to this thread i read several post and i just want to make sure that i am doing this corrently.

I already placed the pending orders and a buy was taken place. I simply took the high and low of the candles in between the 7am & 9am candles,

or was i suppose to wait untill the closing of this current candle the 9 am.
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  • #929
  • Dec 3, 2008 8:59am Dec 3, 2008 8:59am
You need to wait for the close of the 9am candlestick....then be patient and keep your powder dry.
Zorro...
  • #930
  • Dec 3, 2008 9:07am Dec 3, 2008 9:07am
Quoting Zorro's Mask
You need to wait for the close of the 9am candlestick....then be patient and keep your powder dry.
Thank you so much !
  • #931
  • Dec 3, 2008 9:09am Dec 3, 2008 9:09am
Quoting Zorro's Mask
You need to wait for the close of the 9am candlestick....then be patient and keep your powder dry.
Hi, I think that is not true. The thread initially started with 8 bars on a 15m time frame. The ninth bar being the breakout. 4 bars from the 7-8 t.f. and 4 bars from the 8-9 t.f.. Again I'm not sure but maybe some one can claify
  • #932
  • Dec 3, 2008 9:38am Dec 3, 2008 9:38am
Quoting Guerrillawar
Hi, I think that is not true. The thread initially started with 8 bars on a 15m time frame. The ninth bar being the breakout. 4 bars from the 7-8 t.f. and 4 bars from the 8-9 t.f.. Again I'm not sure but maybe some one can claify
If you will read the post and follow CTGUY thread throughout you will see he is quite clear in that the 9:00 am EST bar must complete before you have a signal. In fact it was the point of contention that shut this thread down for a period of time. Just go back and read, as I have taken the time to do, and you will see that I am correct. I am by far no expert on this, as I am new to this method, but I am clear on that much. A total of 9 bars from 0700 to 0900 before you can begin trading if you follow the rules as laid out by CTGUY.
Zorro...
  • #933
  • Dec 3, 2008 9:51am Dec 3, 2008 9:51am
Ok here we go for another try SL 57 pips TP 57 pip.
Long entry has been hit.
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  • #934
  • Dec 3, 2008 10:05am Dec 3, 2008 10:05am
Quoting Fx_Pipin
Ok here we go for another try SL 57 pips TP 57 pip.
Long entry has been hit.
Pipin,

I was in that cable trade that you got stopped out on as well. I held it with a stop and reverse on the other end of the range. I just squared here at 1.4815. I also got in a euro long at 1.2658 and squared at 1.2680. I was also in a aussie trade and chickend out and covered at 6450. Because I got in and took some heat initially. All in all this system is good but it still seems ambiguous since so many different parameters are floating around.
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  • #935
  • Dec 3, 2008 10:09am Dec 3, 2008 10:09am
I believe the quote below summarizes the reasons for selecting the indicated boundaries of the box. As you can see, there are very particular reasons why GBP/USD and 7 AM ET and 9 AM ET were chosen.

As has been mentioned countless times, any deviation is a different strategy. These deviations may be better or worse performing...I don't really know.

Quoting RickTheRower
Please note that this particular strategy is specifically for the GBP/USD only -- Why? Because the daily TIMING of the Big Dog System is specific for when the London Big Dogs are back from lunch and ready to roll up their sleeves for some serious trading, and the New York Big Dogs are rolling up their sleeves after having their morning coffee as they prepare to mount the "English Race Horse" and run with it.
  • #936
  • Dec 3, 2008 10:27am Dec 3, 2008 10:27am
I am out on the long on the GU with 30 pips this morning...now I am waiting for the reversal and possible short trade.
Zorro...
  • #937
  • Dec 3, 2008 10:50am Dec 3, 2008 10:50am
I had entered a pending order prior to the 9AM box completing, I got killed of course. Before 9AM, the box increased in size, triggered my long order, went south to stop it out, and the short order got stopped out also.... Had I waited, the long order would have been a good trade.
  • #938
  • Dec 3, 2008 11:08am Dec 3, 2008 11:08am
Has anyone tested this method during the NFP event ?

I wonder if this method can be profitable during the NFP...
  • #939
  • Dec 3, 2008 11:55am Dec 3, 2008 11:55am
Quoting Fx_Pipin
Has anyone tested this method during the NFP event ?

I wonder if this method can be profitable during the NFP...

CTGUY specifically warned against trying to use this during the NFP because of the volatility....you can use it then at your own risk, but he sits that out..as will I in deference to his experience with the system.
Zorro...
  • #940
  • Dec 3, 2008 2:34pm Dec 3, 2008 2:34pm
Quoting Zorro's Mask
CTGUY specifically warned against trying to use this during the NFP because of the volatility....you can use it then at your own risk, but he sits that out..as will I in deference to his experience with the system.
My experience trading this system during news time is sometimes with great success, but sometimes i get hit my SL.
I have learned one thing trading during news time that increases my profitability. When news is coming and my pending orders are still there, not triggered yet, i will leave for news data to push prices toward my orders and hopefully in profit area. Most often news push price to my 100 pip TP3 target.
If at the same time price prior to news is going to hit my pending orders, I delete them. I do that because news could came to my favor, but also not. Chances are 50:50 (gambling area). Most losers happened with this scenario.
So if price is inside the box and not near boundaries during news time i will keep my pending orders intact leaving them to be triggered.

Cheers
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