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

  • #1,281
  • May 27, 2009 2:43pm May 27, 2009 2:43pm
Quoting lucashammer

Hope that answers all of your questions. If not, let me know. =)
Hi Lucas,

Terrific job with the fibs...I hope to emulate your success!

Questions:

1) Which currency pairs do you trade?

2) Do you use this approach on other box trades (like Asian Box)?

3) Am I correct that there was no trade today for EUR/USD?

4) Do you set your trades as pending orders? If so, when do you close out unfilled orders?

Many thanks for sharing with us!
Bob
  • #1,282
  • May 27, 2009 3:13pm May 27, 2009 3:13pm
Quoting Bobcat2
Hi Lucas,

Terrific job with the fibs...I hope to emulate your success!

Questions:

1) Which currency pairs do you trade?

2) Do you use this approach on other box trades (like Asian Box)?

3) Am I correct that there was no trade today for EUR/USD?

4) Do you set your trades as pending orders? If so, when do you close out unfilled orders?

Many thanks for sharing with us!
Bob
Hi Bob. Hope this answers your questions.
1. EUR/USD is the only pair I trade right now. Haven't had the time to test it with any others.
2. I do not trade other boxes such as London or Tokyo, but I am trying to if someone can backtest it for me.
3. Today there was a trade for EUR/USD. The first TP was hit, then it reversed, so the other two would've stopped out at break even. I posted the results in a previous post today.
4. I do set mine as pending orders. I close the shorts when the longs trigger or the longs when the shorts trigger. I also close any pending orders at 5 to 6 p.m. ET.

Hope that answers everything for you, and once again, if someone can test or backtest this with other currencies or timeframes, Asian, European. Anyways, please let me know so we can start looking for other opportunities. I would like to find at least one currency that this has a high success rate for each of the time frames so not everybody is restricted to being in front of their computers at 9 a.m. ET.
  • #1,283
  • May 27, 2009 3:50pm May 27, 2009 3:50pm
Lucas,
Appreciate your replies to earlier questions.

I forgot to ask you this earlier.

In case your LONG trade is triggered first, as per your replies, you remove the SHORT orders. If the SL for LONG is hit, what do you do? Do you place the SHORT orders again or you're done for the day after that LONG trade?

Thanks.
  • #1,284
  • May 27, 2009 4:03pm May 27, 2009 4:03pm
Quoting denverdude
Lucas,
Appreciate your replies to earlier questions.

I forgot to ask you this earlier.

In case your LONG trade is triggered first, as per your replies, you remove the SHORT orders. If the SL for LONG is hit, what do you do? Do you place the SHORT orders again or you're done for the day after that LONG trade?

Thanks.
If the SL for long gets hit, my trade is over for the day. At least for that session. That's another reason that I'm trying to find trades at different market opens with different currencies.
  • #1,285
  • May 27, 2009 4:35pm May 27, 2009 4:35pm
Quoting lucashammer
If the SL for long gets hit, my trade is over for the day. At least for that session. That's another reason that I'm trying to find trades at different market opens with different currencies.
Hey lucas,

You might want to look into the 1 Trade A Day thread. It deals with the London session breakout. Very similar to this Big Dog system. I have been using it also with good results.

Tony
  • #1,286
  • May 27, 2009 6:28pm May 27, 2009 6:28pm
Quoting lucashammer
Hi Bob. Hope this answers your questions.
1. EUR/USD is the only pair I trade right now. Haven't had the time to test it with any others.
2. I do not trade other boxes such as London or Tokyo, but I am trying to if someone can backtest it for me.
3. Today there was a trade for EUR/USD. The first TP was hit, then it reversed, so the other two would've stopped out at break even. I posted the results in a previous post today.
4. I do set mine as pending orders. I close the shorts when the longs trigger or the longs when the shorts trigger. I also close...
Hi Lucas,
Thanks for your quick response. I apologize for some of my redundant questions that you had already previously answered. I had opened up FF, and failed to update it to include the recent posts. I must have the incorrect box size or incorrect times as it was 104 pips on my chart. Can you share with me the Hi/Lo box prices?

Thanks, much!
Bob
  • #1,287
  • May 27, 2009 10:34pm May 27, 2009 10:34pm
Quoting lolpie
Guys, for IBFX 7AM-9AM is 11:00 - 13:00, not 14:00 - 16:00. Just a heads up.
No wonder my box was wrong...I was an hour late!

Thanks!
  • #1,288
  • Edited 8:31am May 28, 2009 8:26am | Edited 8:31am
If anyone is following my system, this morning the long was triggered at 1.39093. The first TP has already been hit at 1.39196 and the second was hit at 1.39315. I moved my stop up to BE at the first TP and moved it up to 1.39196 at the second TP. Just waiting for the third to be hit.

About 3 seconds after I submitted my reply, the third TP hit at 1.39421

Results for Thursday:

Entry at 1.39093
Stop at 1.38971
Limits at 1.39196, 1.39315, and 1.39421

All TPs hit resulting in +10.3, +22.2, and +32.8, respectively. Total is 65.3, which averages to 21.8 across the three trades. So I hope you all had the same results I did. I'll update the totals later today.
  • #1,289
  • Edited 8:40am May 28, 2009 8:37am | Edited 8:40am
Hi Lucas,
I took the setup that you described in your earlier post. Nice breakout trade.

Also, I try this in my trade management:
Move SL to break even after TP1 is hit.
Move SL to TP1 after TP2 is hit.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 24 KB
  • #1,290
  • May 28, 2009 8:41am May 28, 2009 8:41am
Quoting lucashammer
If anyone is following my system, this morning the long was triggered at 1.39093. The first TP has already been hit at 1.39196 and the second was hit at 1.39315. I moved my stop up to BE at the first TP and moved it up to 1.39196 at the second TP. Just waiting for the third to be hit.

About 3 seconds after I submitted my reply, the third TP hit at 1.39421

Results for Thursday:

Entry at 1.39093
Stop at 1.38971
Limits at 1.39196, 1.39315, and 1.39421

All TPs hit resulting in +10.3, +22.2, and +32.8, respectively. Total is 65.3, which averages...
Lucas,

Winner, winner! Chicken Dinner!
  • #1,291
  • May 28, 2009 8:44am May 28, 2009 8:44am
I caught the breakout trade with your method Lucas. Bigger lot size this time

I tried it on USDCHF with good results too, i'll keep an eye on that.
  • #1,292
  • May 28, 2009 8:48am May 28, 2009 8:48am
Lucas,

1) Are you calculating the broker spread into your strategy?

2) What broker are you using?

I use Oanda for placing trades; today's spread was only .9 pip when orders were filled.

I love the dynamics of your fib application and how it adjusts to prevailing market conditions. Great innovation! Thanks, again.

Bob
  • #1,293
  • May 28, 2009 9:02am May 28, 2009 9:02am
Lucas,

Your fib application (with no longer fixed SL and TP levels, plus moving the SL of the remaining trade/trades to the previous TP level/levels) has considerably changed the dynamics of the original strategy.

As such,would you consider starting a new thread? We could compile and exchange more data regarding trading other boxes and other currency pairs without disrupting the nature of this fine existing thread.

Bob
  • #1,294
  • May 28, 2009 9:13am May 28, 2009 9:13am
i trade gu with this system it hit my loss
  • #1,295
  • May 28, 2009 9:34am May 28, 2009 9:34am
Quoting GeoffT
I caught the breakout trade with your method Lucas. Bigger lot size this time

I tried it on USDCHF with good results too, i'll keep an eye on that.
Yeah, I try to avoid the USDCHF since I do trade the Euro. They move almost identical, but in opposite directions, so when you win on one, you generally win on both, but it goes the same for losses. I just trade larger lot-sizes of EURUSD. Glad it worked out for everyone. From Wednesday to today (minus Memorial Day) that's 4 wins, 1 loss, and 1 break even. Counting the trade where only one TP was hit as a break even even though there was a small profit there. We'll see how tomorrow goes since so far the only loss I've had was on a Friday.
  • #1,296
  • May 28, 2009 10:20am May 28, 2009 10:20am
Quoting Bobcat2
Lucas,

Your fib application (with no longer fixed SL and TP levels, plus moving the SL of the remaining trade/trades to the previous TP level/levels) has considerably changed the dynamics of the original strategy.

As such,would you consider starting a new thread? We could compile and exchange more data regarding trading other boxes and other currency pairs without disrupting the nature of this fine existing thread.

Bob
Great idea Bob. For anyone in here, I've started a new thread at http://www.forexfactory.com/showthread.php?t=171613 to discuss this strategy exclusively. If you wouldn't mind, I'd appreciate some feedback on my explanation of the system from start to finish, and your own personal results if you've been trading this system. Thanks everyone. Please direct any questions to that thread.
  • #1,297
  • May 28, 2009 10:23am May 28, 2009 10:23am
Quoting bigjamo800
i trade gu with this system it hit my loss
As far as knowing which currency, backtest one for a while, find out if it has a good success rate, and stick with it. I use the EUR/USD.
  • #1,298
  • May 29, 2009 7:47am May 29, 2009 7:47am
it great key
  • #1,299
  • May 29, 2009 8:19am May 29, 2009 8:19am
Hi

I am busy testing this method on a demo account and I'm not whether I should be entering my trades after the 8th candle ie 8:45 so placing the trade at 9:00 or after the 9th cnadle ie at 9:15?

I couldn't pick it up from the threads?

I have been trading it on the 8th so far and that seems to be working well so far but only been testing it for 4 days so far.

Thanks

Flipmode
Ride The Big One!!!
  • #1,300
  • May 29, 2009 8:37am May 29, 2009 8:37am
The range is from 7-9 EDT/EST. After 9, you can start trading.
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