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

  • #1,141
  • Mar 13, 2009 6:08am Mar 13, 2009 6:08am
Quoting dznmrd
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)
Hello everybody.
Could anybody tell me, in this thread 14-16.00 mean 14-16.00 (EST) or GMT?

And some post below I saw another time for applying this strategy: 5-7.00 am - EST or GMT?

Sorry, if this Q is stupid. I'm a newbe..
Thank's beforehand, brothers.
  • #1,142
  • Mar 13, 2009 6:51am Mar 13, 2009 6:51am
It's the hour before and after the NY open. So adjust accordingly for your broker
  • #1,143
  • Mar 13, 2009 10:38am Mar 13, 2009 10:38am
Quoting mouse09
Hello everybody.
Could anybody tell me, in this thread 14-16.00 mean 14-16.00 (EST) or GMT?


Sorry, if this Q is stupid. I'm a newbe..
Thank's beforehand, brothers.
i think it is 14 - 16 EST (new york time) and if i convert it to my country so i set it to (GMT+7) 19.00 -21.00 WIB
  • #1,144
  • Mar 13, 2009 11:02am Mar 13, 2009 11:02am
It's 7:00AM to 9:00AM EST
  • #1,145
  • Mar 13, 2009 11:09am Mar 13, 2009 11:09am
The range time is 7AM - 9AM eastern (NY) time. Look at the name of the strategy folks.

While standard time is in effect for the U.S. use:

07:00 - 09:00 EST = 12:00 - 14:00 GMT

While the U.S. is on daylight savings time (like now) use:

07:00 - 09:00 EDT = 11:00 – 13:00 GMT

The time range begins one hour before NY session start time, and ends one hour after NY session start time. Since NY starts at 8AM ET, another way of looking at things is the time range is 07:00 – 09:00 ET regardless of whether daylight savings time or standard time is being used, and regardless of what the GMT time is.

P.S. - For reference, right now it is just after 16:00 GMT, and just after noon in NY. The range time ended 3 hours ago.


__________________
  • #1,146
  • Mar 13, 2009 1:04pm Mar 13, 2009 1:04pm
I've been trying this system for a couple of days now, and so far I've only seen a very few good trades... This out of 5 trading days, I only saw 1 good entry. On monday 3/9 EUR/USD had a good entry with 50 pips potential, but none from tuesday-friday.

When I back tested the system from January-Current, it seemed to me that
there are more or less 40 % of 30-50 pips potential, and if you traded the other half, would have ended up negative.
  • #1,147
  • Mar 16, 2009 9:29pm Mar 16, 2009 9:29pm
Looks like there may be some opportunities today on EUR/USD & USD/JPY.

All set and ready to Rock N Roll.
Attached Image (click to enlarge)
Click to Enlarge Name: Breakout.jpg Size: 283 KB
Starting to see instead of just looking.
  • #1,148
  • Mar 16, 2009 9:43pm Mar 16, 2009 9:43pm
Rastaman, could you do me a favor please and post your indis and a template? Thanks!
" Average traders look to the left, great traders look to the right."
  • #1,149
  • Edited Mar 17, 2009 4:03am Mar 16, 2009 11:53pm | Edited Mar 17, 2009 4:03am
Quoting magicchance
Rastaman, could you do me a favor please and post your indis and a template? Thanks!

I am having problems with MT4 Build 221 right now, in which the indicators are not found even though they are obviously in the indicator directory.

You need the following indicators for this setup.

1: Ma in color

2: P4clock

3: Stochastic Oscillator (can't find it even with a search of the entire C drive)

4: Relative Strength Indicator (can't find it even with a search of the entire C drive, should be in MT4 as standard)

5: New York Box


Here are the files I could find.

All you need now is the stochastic Oscillator and you are set to go.
Attached File(s)
File Type: tpl new york box.tpl   17 KB | 922 downloads
File Type: mq4 NewYorkBox.mq4   18 KB | 988 downloads
File Type: mq4 P4L Clock.mq4   37 KB | 838 downloads
File Type: mq4 MA in Color.mq4   4 KB | 791 downloads
Starting to see instead of just looking.
  • #1,150
  • Mar 17, 2009 6:35am Mar 17, 2009 6:35am
Thanks a lot! Any idea wy the colored areas are so squeezed together? I've checked the settings and they all seem OK, and I've set up the chart exactly like yours. What do you think?
Attached Image (click to enlarge)
Click to Enlarge Name: nyb1.gif Size: 36 KB
" Average traders look to the left, great traders look to the right."
  • #1,151
  • Mar 17, 2009 8:18am Mar 17, 2009 8:18am
Hi,

I am looking for a script to use with this system, that places orders when attached. 1-3 buy orders and 1-3 sell orders per pair. With different TP-levels, like according to your template. Thanks for the setup, it is very clear and easy to use.

Regards

Archie




Quoting Rastaman
I am having problems with MT4 Build 221 right now, in which the indicators are not found even though they are obviously in the indicator directory.

You need the following indicators for this setup.

1: Ma in color

2: P4clock

3: Stochastic Oscillator (can't find it even with a search of the entire C drive)

4: Relative Strength Indicator (can't find it even with a search of the entire C drive, should be in MT4 as standard)

5: New York Box


Here are the files I could find.

All you need now is the stochastic Oscillator and you are set...
  • #1,152
  • Mar 17, 2009 11:32am Mar 17, 2009 11:32am
Hi magicchance

I had the same problem when i installed the New York Box. Found that the issue was i had to multiply the TP1, TP2, and TP3 figures by 10 to get it to display properly.

TP1=150,TP2=300, TP3=450

I 'think' it may have something to do with my (and possibly your) version of Metatrader has prices to 5 decimal places...

If anyone knows how to make it 4 dp's id appreciate the knowledge as its a real pain when trying out customer indicators whihc have been designed for 4dp's...

Cheers

Beachjunkie


Quoting magicchance
Thanks a lot! Any idea wy the colored areas are so squeezed together? I've checked the settings and they all seem OK, and I've set up the chart exactly like yours. What do you think?
  • #1,153
  • Mar 17, 2009 12:47pm Mar 17, 2009 12:47pm
Beachjunkie:
" Average traders look to the left, great traders look to the right."
  • #1,154
  • Mar 19, 2009 2:58pm Mar 19, 2009 2:58pm
So im not entirely sure if I have the indicator at the right time frame, based on the demo account I am using.

Would someone be so kind as to confirm my box is covering the right candles?

The reason I ask is, based on the rules there should not have been any valid trades today as the ranges were too high across all the pairs.

So I am hoping I have my indicator in the wrong place, so as to get in on these big price moves? ;-)

Cheers

Beachjunkie
Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 23 KB
  • #1,155
  • Mar 19, 2009 7:14pm Mar 19, 2009 7:14pm
Quoting beachjunkie
Hi magicchance

I had the same problem when i installed the New York Box. Found that the issue was i had to multiply the TP1, TP2, and TP3 figures by 10 to get it to display properly.

TP1=150,TP2=300, TP3=450

I 'think' it may have something to do with my (and possibly your) version of Metatrader has prices to 5 decimal places...

[color=black]If anyone knows how to make it 4 dp's id appreciate the knowledge as its a real pain when trying out customer indicators whihc have been...
Hi Beachjunkie, I found this indicator and it is perfect for this. It allows 3 TP levels of different sizes... It works great for me.
Attached Image
Attached File(s)
File Type: ex4 UpdateStops.ex4   12 KB | 831 downloads
  • #1,156
  • Mar 20, 2009 4:33am Mar 20, 2009 4:33am
Hello

Here is an indecator where time for breakout (7 to 8) for each stock exchange in selected for paris 6 am to 8 am is selected
coulers show markets
Red : New york
Grey : sydney
yellow : Tokyo
Blue : Paris
Green : London

My broker time is 1+ GMT which is Paris time.

use it and chek pairs for previous days

Eur/Yen gives break out at NY time(Green)
GBR/USD on Paris time (Blue)
Attached Image (click to enlarge)
Click to Enlarge Name: chart1.gif Size: 30 KB
Attached File(s)
File Type: mq4 TradeTime.mq4   6 KB | 1,235 downloads
  • #1,157
  • Mar 20, 2009 10:00am Mar 20, 2009 10:00am
I use this setup alot with some good success. It should also work before any major news announcement as there is usually consolidation before the news which will give a small box.

The US Fed announcement (which I had) and the Swissie announcement last week (which I did not have) are a couple of good examples.

Bernanke speaks today, and that could move the USD/EUR, but I can never figure out what the man's saying, and it seems to take awhile for the markets to pick a direction after these chiefs start talking.

If I follow the rulez, in addition I eliminate the trade often because it doesn't match my own "rulez", I only enter a trade from this strategy about once every two days. I set it up for every London open, New York open, and most major news events... but I only enter it when it's perfect.

Almost always good for 20+ pips.

I set STOP at -25
Mine?
  • #1,158
  • Mar 20, 2009 10:50am Mar 20, 2009 10:50am
[FONT='Calibri','sans-serif']Hey Billyb, I’d be interested to hear what your additional rules are if you are willing to share? [/font]

Quoting Bilyb
If I follow the rulez, in addition I eliminate the trade often because it doesn't match my own "rulez", I only enter a trade from this strategy about once every two days. I set it up for every London open, New York open, and most major news events... but I only enter it when it's perfect.
  • #1,159
  • Edited 11:19am Mar 20, 2009 11:05am | Edited 11:19am
Quoting beachjunkie
Hey Billyb, I’d be interested to hear what your additional rules are if you are willing to share?
1) I prefer not to trade against current trend (what I see on the current chart) and I also don't like to go against the longer term trend (from the daily chart). This usually eliminates half of the setup. It also eliminates the possibility of getting whipsawed in and out of both sides of the trade in a flash!

2) I set my entry points higher than the breakout of the box. Much higher actually... I want to see a BIG move then get swept up in the momentum after the breakout is confirmed.

3) I avoid setting my entry in areas of S/R. I look at Fib lines and big numbers as areas that I can get blocked and get stopped out right away.

* right now for example I have a entry order to long the EUR/USD at 100 pips above the open of the current 30 minute bar. I know there may be some upside and there's no great resistance, so if it runs up 100 pips in 30 minutes, it's likely to go for at least 20-25 more. If i drew the box, the breakout would be at 1.36495. My entry will be at 1.36650. I'll kill the entry order if the 30 minute bar closes.
Mine?
  • #1,160
  • Mar 20, 2009 12:09pm Mar 20, 2009 12:09pm
5am my time this morning, Eurostat released Industrial Production news, and Italy Unemployment numbers followed. This would've worked with just the box.

As it was, I used my safeguards, thinking if EUR/USD broke the 23.6 Retracement, she would head on down to the 38 Ret (which is off the chart). I set an entry at 100 pips below the open of that last red bar in the box (1.3593), and gave it an hour to happen.

I put a trailing Stop in after that long red bar closed, and got stopped out at +27 pip profit.

http://www.forexfactory.com/attachme...7&d=1237568833
[IMG]file:///C:/DOCUME%7E1/pgmrbgb/LOCALS%7E1/Temp/moz-screenshot-1.jpg[/IMG][IMG]file:///C:/DOCUME%7E1/pgmrbgb/LOCALS%7E1/Temp/moz-screenshot-2.jpg[/IMG]
Attached Image
Mine?
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