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7am-9am Big Dog USD Breakout Strategy

  • #1,101
  • Dec 23, 2008 3:15am Dec 23, 2008 3:15am
Quoting jdcabona
You never trade on fridays ? Or it was only for this friday?
Hi jdcabona.

I never trade fridays. The simple reason for this is that a many big players in Asia and Europe but also in the US dont are allready in the weekend.


zeuzera
  • #1,102
  • Dec 23, 2008 7:30pm Dec 23, 2008 7:30pm
Hello zeuzera
Do you think I can use this strategy on a 15min time frame? Which currencies pair do you think it is most profitable on? Which pair do you think gives the lowest pips range between the high and the low candles?

Thanks
  • #1,103
  • Dec 24, 2008 3:27am Dec 24, 2008 3:27am
Quoting lissyking
Hello zeuzera
Do you think I can use this strategy on a 15min time frame? Which currencies pair do you think it is most profitable on? Which pair do you think gives the lowest pips range between the high and the low candles?

Thanks

Hi lissyking.

15min is too much. 5min is ok.
Some traders use 3min.

As i said befor, most of major pairs are profitable. But i dont like USDJPY, GBPJPY and GBPCHF.


zeuzera
  • #1,104
  • Dec 24, 2008 5:26am Dec 24, 2008 5:26am
Quoting zeuzera
Hi lissyking.

15min is too much. 5min is ok.
Some traders use 3min.

As i said befor, most of major pairs are profitable. But i dont like USDJPY, GBPJPY and GBPCHF.


zeuzera

But Zeuzera, when I first read this thread, one of the rules is to use 15min timeframe. Is it because you find it more profitable to use 5min timeframe?

Thanks
  • #1,105
  • Dec 24, 2008 5:45am Dec 24, 2008 5:45am
  •  zykas
  • | Joined Oct 2008 | Status: ... measure thrice, but cut once | 196 Posts
Quoting zeuzera
Hi lissyking.

15min is too much. 5min is ok.
Some traders use 3min.

As i said befor, most of major pairs are profitable. But i dont like USDJPY, GBPJPY and GBPCHF.


zeuzera
This strategy is effective...just started using it (twice) with good sucess...though on 15m on e/u. If its ok with other major pairs , then beautiful!!!!!!!!!!!
I like the Big Dogs because I trade like them
  • #1,106
  • Dec 24, 2008 7:11am Dec 24, 2008 7:11am
If I m correct, somewhere on the thread, CTGUY said he uses ONLY the GBP/USD for this system. He wouldn't recommend this for other pairs.







Quoting zeuzera
Hi TraderJSS.

You have to read the rules for this system !!!

Since september we have a too high volatility in GBPUSD.

But you have to take a look on some other pairs.

Here you have a chart on EURUSD with this system:

-in the past two weeks we have only winning trades
(dont trade on Friday, blue in the chart, because most of the players in Europe and also some in the US are allready in the weekend !!!)






zeuzera
  • #1,107
  • Dec 24, 2008 9:00am Dec 24, 2008 9:00am
Quoting zykas
This strategy is effective...just started using it (twice) with good sucess...though on 15m on e/u. If its ok with other major pairs , then beautiful!!!!!!!!!!!

Hi zykas.

If you are winning with your strategie, dont take care what anybody said !!!

But,
i have explain my strategie some posts befor.
For me, it is important to have a very good chance/risk-ratio.
The chance has to be minimum 2,5 times bigger than the risk.
So, if somebody use 15M chart, than he has (since semptember on GBPUSD) an average size of one 15M candle of 35 pips. So the SL has to be minimum 35 pips.
If i use 5M, than i have an average candle of 25 pips.
As a maximum target i have a hight of the range, for GBPUSD since semptember about 100 pips.
In 15M chart i have a chance/risk-ratio of 3 and in 5M chart i do have an ratio of 4.

So, in the start i have "theoretical" 33% better position in 5M than somebody in 15M.


zeuzera
  • #1,108
  • Dec 24, 2008 12:56pm Dec 24, 2008 12:56pm
  •  zykas
  • | Joined Oct 2008 | Status: ... measure thrice, but cut once | 196 Posts
Quoting zeuzera
Hi zykas.

If you are winning with your strategie, dont take care what anybody said !!!

zeuzera
I traded this system on E/U and G/U today they were ok. tho E/U was better today possibly the holidays contributed. I may be late using this system but the system im my opinion is not late. This will go into my kitty as one of my asernals.
I like the Big Dogs because I trade like them
  • #1,109
  • Dec 25, 2008 1:15pm Dec 25, 2008 1:15pm
Hello zeuzera

I would like to ask some questions

You said, you use 3-6 CET range for EURJPY. But the chart and result from 22nd dec are based on the 4-6CET range. Which one do you use for this pair?

Do you consider S/R, TL, PA setup etc.? For example if we are close to significant support on higher time frame , would you take short position against this support anyway? Or you dont look on higher time frame to see bigger picture at all?

How long do you wait for opening range to be broken? Or you dont have time limit?

I assume that you use market order for entries on the close of the breakout candle. Would you take trade if this candle is big but distance between your entry and the low of the bar (for longs) within your RRR expectations?

Thank you
  • #1,110
  • Dec 25, 2008 1:34pm Dec 25, 2008 1:34pm
This system is only designed for the GBP/USD, on the 15min charts only.

Quoting SeaPip
If I m correct, somewhere on the thread, CTGUY said he uses ONLY the GBP/USD for this system. He wouldn't recommend this for other pairs.
  • #1,111
  • Dec 25, 2008 1:45pm Dec 25, 2008 1:45pm
Quick question, below you wrote this

TraderJSS,
on this particular case (GBPUSD brkout 13-15 CET) our poistion (chance to winn !!! ) as brkout-traders befor september was 33% better then after september !!!

Im confused. Myresults from this system, if you follow it by the rules show it is more profitable after September than before September, Im thinking it is due to the volatility of the markets after September.
  • #1,112
  • Dec 26, 2008 7:40pm Dec 26, 2008 7:40pm
[quote=zeuzera;2438599]Hi TraderJSS,

if you are winning, dont care what anybody said !!!

I dont know how could you earn money (since September) with system acording to the rules in the first posting.
Here only one detail:
GBPUSD 15M
watch !!! 8 times stopped in a row !!!


Hello, I think you had wrongly putting buy/sell stop area. The main rule is to set the highest and lowest within 1400-1600 HRS and the stoploss at the opposite order. You also have to set lower TP and not 95pips. I would prefer 10-15 pips to be discpline.

Anyway I am very worry that at that time the spread can be rapidly moves around so it can trigger both of the orders. However if we backtest it, handsome profit..
  • #1,113
  • Dec 27, 2008 3:49am Dec 27, 2008 3:49am
[quote=forex888;2438957]
Quoting zeuzera
Hi TraderJSS,

if you are winning, dont care what anybody said !!!

I dont know how could you earn money (since September) with system acording to the rules in the first posting.
Here only one detail:
GBPUSD 15M
watch !!! 8 times stopped in a row !!!


Hello, I think you had wrongly putting buy/sell stop area. The main rule is to set the highest and lowest within 1400-1600 HRS and the stoploss at the opposite order. You also have to set lower TP and not 95pips. I would prefer 10-15 pips to be discpline.

Anyway I am very...
Hi forex88.

I think the idea of this system "brkout 7-9 New York time" is good. But i dont like the details.

One of the major rules investing/trading money on the financial markets, is to get much better chance than the risk !!!
Acording to your opinion or some rules of "brkout trading" to put the SL on the other side of the range, it means, that i shoud risk more than i can winn !!!
For this idea "GBPUSD brkout 7-9 New York time" this kind of RM and MM will bring everybody on secure way to the ruin.

I think, we have to make a clear line between "brkouts at some particular time" and "brkouts of some trading range".

For the "brkouts of some trading range" we have to follow some imortant rules like ID, NR7,...
In this case we can put the SL on the opposite side of the range because we are expecting huge movement.

I will reapet,
ALLWAYS on any strategie an trader or investor must have strong chance/risk-ratio. I said minimum 2,5. Many good traders are taking only positions with 4-5 C/R-ratio.

zeuzera
  • #1,114
  • Dec 27, 2008 2:01pm Dec 27, 2008 2:01pm
Quoting TradeStar
Hi Zeuzera,

Could you explain more on NR7 or point to where I can learn more about it.

Thanks
TS
Hi TraderStar.

NR stands for "Narrow Range".
A narrow range candle is simply a candle which has a range from high to low that’s much less than the average past candles. Many traders are tracking NR7 candles. NR7 means the narrowest range of the last seven candels.

With NR we can watch for the "Range Contraction".

So if we have NR7 in combination with ID (inside day), it is a very good setup.

I have learned NR7 from the best trader that i ever saw. It was a very nice girl .

Google it "breakouts of NR7"

zeuzera
  • #1,115
  • Dec 29, 2008 12:02am Dec 29, 2008 12:02am
I checked your strategy> is really works well... tks>
  • #1,116
  • Dec 30, 2008 11:56am Dec 30, 2008 11:56am
Zeuzeza, perhap you can start another thread with your NR system. You can't just say that "you don't like this or don't like that". And there is NO Rule for trading. It is just a GUIDELINE for trading. Such as scalping...most expert/professional said trade longer TF but I know many trader make good $$$ scalpings. You can disagree with this system, good, start your own thread.

As for me, I have made $ with this system for the past 2 weeks consistently risking 2-1. Ofcourse my TP is not anywhere near 100 pips. Much less. Plus, I don't just set and forget. I monitor my chart and if price got the opposite of my entry 50-70% of the range. I take the loss.



Quoting zeuzera
Hi TraderStar.

NR stands for "Narrow Range".
A narrow range candle is simply a candle which has a range from high to low that’s much less than the average past candles. Many traders are tracking NR7 candles. NR7 means the narrowest range of the last seven candels.

With NR we can watch for the "Range Contraction".

So if we have NR7 in combination with ID (inside day), it is a very good setup.

I have learned NR7 from the best trader that i ever saw. It was a very nice girl .

Google it "breakouts of NR7"

zeuzera
  • #1,117
  • Jan 5, 2009 11:53am Jan 5, 2009 11:53am
I dont know if anyone else took the breakout this morning, however, the range from 1400-1600 was 75 pips, which is relatively small for this pair these days, so I took it and hit +75 pips. Good start to a new year. Good luck to everyone this year.
  • #1,118
  • Jan 5, 2009 3:29pm Jan 5, 2009 3:29pm
Quoting TraderJSS
I dont know if anyone else took the breakout this morning, however, the range from 1400-1600 was 75 pips, which is relatively small for this pair these days, so I took it and hit +75 pips. Good start to a new year. Good luck to everyone this year.
Trader, where are you placing your s/l?
  • #1,119
  • Jan 5, 2009 4:29pm Jan 5, 2009 4:29pm
high of the box was 1.4549, low of the box was 1.4474 = 75 pips. SL goes at the other end of the box. 1.4474. TP was hit at 1.4630

Quoting lholcomb
Trader, where are you placing your s/l?
  • #1,120
  • Jan 5, 2009 5:10pm Jan 5, 2009 5:10pm
Thanks Trader, that's what I thought.
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