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Weekly Gbpjpy Breakout System

  • #561
  • Mar 13, 2009 4:58pm Mar 13, 2009 4:58pm
Hi Smurf

Im going to trade this on demo next week again with the following rules:

TP 150
SL 150
Move to break even +1 after 50 pips in the right direction

Going to enter on Sunday night unless there's a gap,in which case I'm going to leave it

We'll see how it goes

Mark
  • #562
  • Mar 14, 2009 12:20am Mar 14, 2009 12:20am
Quoting smurf
FXCM

HI 138.16
LO 136.32

Any one trading next week?
I am. Thanks for posting the data.
  • #563
  • Mar 17, 2009 12:24am Mar 17, 2009 12:24am
I lost the sale and got the buy for a break even week. I didnt check the trade untill now.

Did anyone double the lots after the sale lost?

How did it work for you?
  • #564
  • Mar 17, 2009 1:53am Mar 17, 2009 1:53am
Hi Smurf

I back tested some results over the weekend and changed my rules to:

TP 50
SL50

My BUY order clicked in yesterday and I made TP.
I cancelled the Sell order

I know you have been trading this system for a lot longer than me and you may have had feedback on others adopting a more modest target like this, but in the limited back testing Ive done, it looked pretty good.

Have a good week

Mark
  • #565
  • Mar 17, 2009 11:17am Mar 17, 2009 11:17am
Hellow Mark r,

What happened to your sale?


Quoting mark r
Hi Smurf

I back tested some results over the weekend and changed my rules to:

TP 50
SL50

My BUY order clicked in yesterday and I made TP.
I cancelled the Sell order

I know you have been trading this system for a lot longer than me and you may have had feedback on others adopting a more modest target like this, but in the limited back testing Ive done, it looked pretty good.

Have a good week

Mark
  • #566
  • Mar 17, 2009 1:57pm Mar 17, 2009 1:57pm
Hi Smurf,

I trade on Alpari UK and my sale entry didnt trigger. Here's a chart showing what I have.I use the fib tool to set the high/low. I was able to enter on the buy only.

Interested to hear about the double up idea- do you follow that?

Mark
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy 17.03.09.gif Size: 15 KB
  • #567
  • Mar 22, 2009 9:21pm Mar 22, 2009 9:21pm
Hi- 138.94
LO- 137.44
Range 150
I have triggerd the buy up eighty pips and moved the stop loss to BE.
I am riding it out and see.



Last week

HI 138.16
LO 136.32

I use the hourly chart. I also use the 9-14 candles. I also use the fxcm charts. Thats how my sell was triggered and went to a reversal and lost.

On doubling up: How many lots you used in the loss, double that in the second order.
  • #568
  • Mar 22, 2009 9:35pm Mar 22, 2009 9:35pm
I was not up 80 pips. I was only up 65 pips, and going up. If it make it to 100 pips locking in 60 pips.
Quoting smurf
Hi- 138.94
LO- 137.44
Range 150
I have triggerd the buy up eighty pips and moved the stop loss to BE.
I am riding it out and see.



Last week

HI 138.16
LO 136.32

I use the hourly chart. I also use the 9-14 candles. I also use the fxcm charts. Thats how my sell was triggered and went to a reversal and lost.

On doubling up: How many lots you used in the loss, double that in the second order.
  • #569
  • Mar 24, 2009 10:46pm Mar 24, 2009 10:46pm
Had a winning week at +150.

How did everyone else do?
  • #570
  • Mar 25, 2009 9:33am Mar 25, 2009 9:33am
Hi Smurf,

+50 for me which was my target.

Mark
  • #571
  • Mar 28, 2009 10:21pm Mar 28, 2009 10:21pm
HI-140.91

LO-139.00


Range is 191

Lets ride it out.
  • #572
  • Mar 29, 2009 11:34pm Mar 29, 2009 11:34pm
great system

i have just made my first money with this system
winn 100 pips

it was possible more but i had OCO-order.
Maybe next week i will make it manual.

http://img22.imageshack.us/img22/423/10215984.gif


zeuzera
  • #573
  • Mar 30, 2009 11:07am Mar 30, 2009 11:07am
Not so bad...
I won 178 pips today
  • #574
  • Mar 30, 2009 11:56am Mar 30, 2009 11:56am
I watched the trade. Locked in 150 pips. I went for the range 190.I was able to get it in no time.

A good system if you work it with mm and patience.

See you next week.
  • #575
  • Apr 2, 2009 5:32am Apr 2, 2009 5:32am
smurf

Do you use any spreadsheet for calculating the entry buy/sell points?

If so then can you share it please.

Thanks
  • #576
  • Apr 4, 2009 4:45am Apr 4, 2009 4:45am
Hi.

This week wee have an close at the high.
From my experience with stocks, I have an rule that we can also aply to this system.

“If we close at th high/low, than for the next oppening hours don’t go in the direction of the previous candle.”
(because many traders/investors are not active in the last hours on Friday, so they must consolidate all positions !!!)

So I did some manual backtest on GJ from Jan 08.

During this time we have 9 closes at high/low:

-3 huge gapps, no trade

-1 fake on both brkout sides

-2 fakes in the direction of the prevoius candle.
Profitable in the opposite directon of the previous candle.

-3 profitable trades according to the rules of this system. All three trade are in the opposite directon of the previous candle.


We had two times losses with SL.

If we apply my rule to not oppening the trade in the direction of the previous candle, we would have 5 profitable trades and only 1 trade with loss SL.


03.03.2008
fake on both brkout sides

17.03.2008
Big gap, no trade

14.04.2008
fake in the direction of the prevoius candle. Profitable in the opposite directon of the previous candle.

02.06.2008
No fake. Profitable in the opposite directon of the previous candle.

16.06.2008
No fake. Profitable in the opposite directon of the previous candle.

21.07.2008
fake in the direction of the prevoius candle. Profitable in the opposite directon of the previous candle.

01.09.2008
Big gap, no trade

22.09.2008
Big gap, no trade

02.02.2009
No fake. Profitable in the opposite directon of the previous candle.



Zeuzera
  • #577
  • Apr 4, 2009 4:54am Apr 4, 2009 4:54am
Hello,


I am new to the thread and just reading about the breakout strategy. Are the rules on the first post still valid? If not, can someone post the updated rules.

Thanks



Quoting zeuzera
Hi.

This week wee have an close at the high.
From my experience with stocks, I have an rule that we can also aply to this system.

“If we close at th high/low, than for the next oppening hours don’t go in the direction of the previous candle.”
[size=3][font=Times New Roman](because many traders/investors are not active in the last hours on Friday, so they must consolidate...
  • #578
  • Apr 4, 2009 5:01am Apr 4, 2009 5:01am
Quoting easyliving
Hello,


I am new to the thread and just reading about the breakout strategy. Are the rules on the first post still valid? If not, can someone post the updated rules.

Thanks

The rules from the first posting are still valid.
  • #579
  • Apr 4, 2009 5:32am Apr 4, 2009 5:32am
Thanks Zeura. I've copied the rules and still reading through the thread. In a nutshell, do we use friday's last 2 or 3 candles? Also, how do we address the gap?




Quoting zeuzera
The rules from the first posting are still valid.
  • #580
  • Apr 4, 2009 5:33am Apr 4, 2009 5:33am
I'm sorry. Did not have the correct spelling of your name in my reply.

Quoting zeuzera
The rules from the first posting are still valid.
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