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Attachments: New Variation on 7 am to 9 am Breakout Strategy
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New Variation on 7 am to 9 am Breakout Strategy

  • #101
  • Jun 16, 2009 10:30am Jun 16, 2009 10:30am
Hi Lucas... So regarding the backtesting... How far back have you tested this with EURUSD and what kind of results have you come up with so far... Thanks for your input.
  • #102
  • Jun 16, 2009 10:45am Jun 16, 2009 10:45am
Quoting gbpackfan
Hi Lucas... So regarding the backtesting... How far back have you tested this with EURUSD and what kind of results have you come up with so far... Thanks for your input.

http://www.forexfactory.com/showpost...6&postcount=71

It was backtested to December of last year.
  • #103
  • Jun 17, 2009 8:21am Jun 17, 2009 8:21am
Hello all,
I am new to the thread. This looks good.
Somebody see if I understand. From 7-9am EST today the low was 3822, the high was 3896. That is a range of 74 pips. So from wht I understand, the best advice is not to trade? Wait for a day with a range of 50 or less?
But if I did trade long I would go long @ 1.3916?
Thanks
Michael
  • #104
  • Jun 17, 2009 9:06am Jun 17, 2009 9:06am
Nice system.

Can I add my 2 cents?

I don't think it has anything to do with the friday's that caused some of your not-so-good-days...

May I suggest to try this on UK Open 3am EST. Set it at 1am and 3am or even 2am. You'll see a lot more results, for most currency pairs... What I have noticed during the UK open, if the pair is going in one direction by at least 40-50 pips, it'll continue to go in that direction, unless a news release comes out to make it go the other way before retracing again.

Then set it up again for US open.

Quoting lucashammer
Alright. It was suggested that I start this thread because the original dynamics of my system changed basically the entire trading system that I was originally posting on which was the 7 am to 9 ..... ....
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  • #105
  • Jun 17, 2009 4:38pm Jun 17, 2009 4:38pm
lucashammer

Nice little strategy, found that all 3 TP's got hit for Long Positions while I was asleep. Wish I had done a higher pip value now, only tested it out at $1.00 a pip.

Thanks for sharing.
PM Me If You Need Help!
  • #106
  • Jun 17, 2009 5:00pm Jun 17, 2009 5:00pm
Quoting alllivemind
Hello all,
I am new to the thread. This looks good.
Somebody see if I understand. From 7-9am EST today the low was 3822, the high was 3896. That is a range of 74 pips. So from wht I understand, the best advice is not to trade? Wait for a day with a range of 50 or less?
But if I did trade long I would go long @ 1.3916?
Thanks
Michael
That's exactly correct. Would have been a long at 1.3916, TPs at 1.39334, 1.39530, and 1.39706 which would have all hit today, but I didn't take it because of the box size.
  • #107
  • Jun 17, 2009 5:02pm Jun 17, 2009 5:02pm
Quoting BobHall
Nice system.

Can I add my 2 cents?

I don't think it has anything to do with the friday's that caused some of your not-so-good-days...

May I suggest to try this on UK Open 3am EST. Set it at 1am and 3am or even 2am. You'll see a lot more results, for most currency pairs... What I have noticed during the UK open, if the pair is going in one direction by at least 40-50 pips, it'll continue to go in that direction, unless a news release comes out to make it go the other way before retracing again.

Then set it up again for US open.
Bob, thanks for the input. I would be willing to check out the UK open (pretty late for me, but I'm usually up anyways. I have not backtested it and I don't have the time to right now because of my job, but if I saw backtest results I would definitely consider jumping in that.
  • #108
  • Jun 17, 2009 6:15pm Jun 17, 2009 6:15pm
Quoting lucashammer
Bob, thanks for the input. I would be willing to check out the UK open (pretty late for me, but I'm usually up anyways. I have not backtested it and I don't have the time to right now because of my job, but if I saw backtest results I would definitely consider jumping in that.
Old farts like me are usually sawing wood by the time London opens at 3 freakin' AM in the morning. You must be a college kid to be up that late LOL.
You are in a maze of twisty little passages, all alike.
  • #109
  • Jun 17, 2009 7:27pm Jun 17, 2009 7:27pm
LMFAO Steve Good one.

I'm in EST hours -5GMT. I just woke up about an hour ago. My hours are really messed up big time. My body doesn't know what day of the week it is most times.

Quoting stevegee58
Old farts like me are usually sawing wood by the time London opens at 3 freakin' AM in the morning. You must be a college kid to be up that late LOL.
PM Me If You Need Help!
  • #110
  • Jun 18, 2009 9:27am Jun 18, 2009 9:27am
Quoting stevegee58
Old farts like me are usually sawing wood by the time London opens at 3 freakin' AM in the morning. You must be a college kid to be up that late LOL.
lol. I'm about college age as it turns out, yes.
  • #111
  • Edited 4:30pm Jun 18, 2009 4:18pm | Edited 4:30pm
Just a check again to make sure I understand. Todays high and low was 1.3951 to 1.4001. So that is 50 pips, an acceptable box size. We entered short @ 1.3937 and hit all three targets. If we count the pips we made 11, 24, and 36. Do you divide by three to report the pip count?
That would be 23.6 total. Im seeing that T1 is pretty close to the entry. Do you get stopped at BE a lot?
Michael
  • #112
  • Jun 18, 2009 5:23pm Jun 18, 2009 5:23pm
EST and GMT differ this time of the year 4 hrs.
GMT NEVER changes through the year.


Quoting BobHall
LMFAO Steve Good one.

I'm in EST hours -5GMT. I just woke up about an hour ago. My hours are really messed up big time. My body doesn't know what day of the week it is most times.
  • #113
  • Jun 22, 2009 9:17am Jun 22, 2009 9:17am
Quoting alllivemind
Just a check again to make sure I understand. Todays high and low was 1.3951 to 1.4001. So that is 50 pips, an acceptable box size. We entered short @ 1.3937 and hit all three targets. If we count the pips we made 11, 24, and 36. Do you divide by three to report the pip count?
That would be 23.6 total. Im seeing that T1 is pretty close to the entry. Do you get stopped at BE a lot?
Michael

I don't actually. It seems to go on a pretty nice run once it does break out of the box. Today, for example, hit two TPs, then would have been stopped at the first for the final one. Seems to have a pretty good amound of momentum coming out of that box.
  • #114
  • Jun 22, 2009 9:18am Jun 22, 2009 9:18am
Quoting Freddyfx
EST and GMT differ this time of the year 4 hrs.
GMT NEVER changes through the year.
Technically, I think EST is always -5. However, right now we are in EDT (Eastern Daylight Time) which is -4.
  • #115
  • Jun 23, 2009 9:35am Jun 23, 2009 9:35am
Lucas,

At first blush, it appears as if this strategy is working much better on GBP/USD as of late. Please have a look and give me your analysis.

Good trading,
Bob
  • #116
  • Jun 23, 2009 10:03am Jun 23, 2009 10:03am
I've been doing ok on eur/usd and gbp/usd so far

but I've also been doing 1am - 3am EST hours, works wonders

Quoting Bobcat2
Lucas,

At first blush, it appears as if this strategy is working much better on GBP/USD as of late. Please have a look and give me your analysis.

Good trading,
Bob
PM Me If You Need Help!
  • #117
  • Jun 23, 2009 11:21am Jun 23, 2009 11:21am
Quoting BobHall
I've been doing ok on eur/usd and gbp/usd so far

but I've also been doing 1am - 3am EST hours, works wonders
Really ?....


Anyone else have been doing this ?

I gonna try it....

How was ur results so far Bobhall ?


regards...
  • #118
  • Jun 23, 2009 1:24pm Jun 23, 2009 1:24pm
Quoting BobHall
I've been doing ok on eur/usd and gbp/usd so far

but I've also been doing 1am - 3am EST hours, works wonders
Hey Bob,

Thanks for the trading recommendation...I'll be using this tonight. Which currency pairs do you trade for the 1AM - 3AM EST session? And by the way, do you mean EDT rather than EST?

Good trading,
Bob
  • #119
  • Jun 23, 2009 1:59pm Jun 23, 2009 1:59pm
I have heard of people using the 1am to 3am session I just personally cant do it due to where I live it be way to inconvenient. But I have heard that the results are good but if you live in the U.S. the 9am seems like a better deal. the EURUSD and GBPUSD both seem to be the best to me in this type of breakout strategy.
  • #120
  • Jun 23, 2009 2:12pm Jun 23, 2009 2:12pm
Quoting gustav213
I have heard of people using the 1am to 3am session I just personally cant do it due to where I live it be way to inconvenient. But I have heard that the results are good but if you live in the U.S. the 9am seems like a better deal. the EURUSD and GBPUSD both seem to be the best to me in this type of breakout strategy.
Well the EU and the GU both worked well on both times last night and this morning, hit all 3 targets.
I do not use such a tight stop, I watch mkt direction, or go halfway between the high and low of the box.
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