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The London Progressive Strategy

  • #81
  • Jun 19, 2009 5:02am Jun 19, 2009 5:02am
Well I hope no-one was in the Euro this morning, 3 losses already and lining up for a possible fourth... i'm glad I steered clear of it. G/U has one loss but one profitable trade still running.

I've been looking at GBP/JPY with this system, looks very promising to me.
  • #82
  • Jun 19, 2009 9:54am Jun 19, 2009 9:54am
I think running any of the GBP pairs (Gbp/Chf, Gbp/Cad, Gbp/Usd, Gbp/Jpy, Gbp/Nzd, or Gbp/Aud) might be the best bet with this.
  • #83
  • Jun 22, 2009 11:55pm Jun 22, 2009 11:55pm
I've updated the first post with the new box/fibo indicator and my template. There is a bugs where it looks like the indicator redraws over itself and is being worked on as we speak. I'm also going to drop Eur/Usd due to it's bad performance and will now evaluate the six pairs in the above post. I've also going to adjust my TP percentage down a notch (see post #1) to increase the TP 2-4 profit a little but still not lose any money overall if a TP 1 is hit. I'm also considering the possibility of a using progressive lot increase formula if we have a stopped out trade that did not hit a TP 1 or greater.
  • #84
  • Jun 25, 2009 12:49am Jun 25, 2009 12:49am
This last TPL does not seem to function properly, as I loaded it earlier today and the whole well functioning setup suddenly does not function anymore.
  • #85
  • Jun 25, 2009 9:53am Jun 25, 2009 9:53am
I don't know what to tell you, it's working fine on my trading platform. maybe if you attach a pic, we can see what your talking about.
Attached Image (click to enlarge)
Click to Enlarge Name: london.gif Size: 50 KB
  • #86
  • Edited Jun 26, 2009 9:54pm Jun 25, 2009 10:09pm | Edited Jun 26, 2009 9:54pm
I think the above posted chart is not correct. The broker that you use there does not seem to comply with IBFX, which uses GMT.
I add a screenshot of mine.
Attached Image (click to enlarge)
Click to Enlarge Name: london rush.gif Size: 29 KB
  • #87
  • Sep 16, 2009 9:33am Sep 16, 2009 9:33am
hi mer071898
thanks for sharing this strategy
by the way, your template is great cos it actually shows the performance of previous days so that i can quickly eye ball the performance of your strategy (i am not good in programming so i still use the old method way to check for past performance.....by squinting my eyes haha)

cheers
streamyx
  • #88
  • Feb 19, 2010 11:12am Feb 19, 2010 11:12am
Anyone still trade with it strategy?

I try to check last week on GPS/USD - actually not so good, as I thought, so I wish compare with others
  • #89
  • Mar 7, 2010 11:28pm Mar 7, 2010 11:28pm
I know this thread is been pretty quiet, but I wanted to update the box indicator for anyone still playing around with the strategy. I had some help from sangmane to clean up the code so that the box does not disappear and the fib lines do not double up on themselves, so thanks to him.

The changes that were made were mostly level changes and stop points for when to move your stops up. All the lines are Fibonacci numbers except for level 4 in which I just split levels 3 & 5 so we can initiated a stop level past the entry point to lock in pips. The initial stop I have been using has been the opposite side of the box and then moving my stops as each level dictates. You can also adjust the fib line's length. The "FibLength" parameter is basically how many bars the indicator is using from the blue box to determine how long the line will be. Feel free to play with it as much as you'd like.
Attached Image (click to enlarge)
Click to Enlarge Name: london box.jpg Size: 128 KB
Attached File(s)
File Type: mq4 London Box.mq4   5 KB | 602 downloads
  • #90
  • Mar 9, 2010 3:10am Mar 9, 2010 3:10am
mer071898, thanks for updated version of BoxFibo

The rules of using are the same, as described at first post, am I right?
  • #91
  • Mar 9, 2010 3:06pm Mar 9, 2010 3:06pm
Because there are 5 levels now, it would be best to place one trade and use Level 5 as your target and move your stops accordingly. You may see several times during the duration of the box's session where you might get stopped out and have an immediate opportunity to re-enter. You could even use a semi-martingale approach on this to increase the lots to recoup previous losses when these opportunities pop up, but that's up to you.

I have a coder looking at this to see if it's a possibility to do an EA, but that may be a bit before we get to that point. The best thing to do is to go back (say 60 days) and look to see how many times that Level 5 gets hit, then you can gauge your lot size increase accordingly.
  • #92
  • Edited 2:41am Mar 10, 2010 1:58am | Edited 2:41am
Quoting mer071898
Because there are 5 levels now, it would be best to place one trade and use Level 5 as your target and move your stops accordingly. You may see several times during the duration of the box's session where you might get stopped out and have an immediate opportunity to re-enter. You could even use a semi-martingale approach on this to increase the lots to recoup previous losses when these opportunities pop up, but that's up to you.

I have a coder looking at this to see if it's a possibility to do an EA, but that may be a bit before we get to that...
Ok, thanks, I will try to check at history

Time frame is the same? 15M only?
And time for box is the same too?
"The box will be from 04:00 GMT to 07:15 GMT, 1 hour before the London session begins"

Currencies are still Gbp/Usd, Gbp/Chf, Gbp/Jpy, Gbp/Nzd
(and not Eur/Usd)

Can you provide some examples with screens and description of situations?
I think, it will be very helpful for novices
  • #93
  • Mar 10, 2010 2:16pm Mar 10, 2010 2:16pm
Quote
Time frame is the same? 15M only?
Yes

Quote
And time for box is the same too?
"The box will be from 04:00 GMT to 07:15 GMT, 1 hour before the London session begins"
Since sangmane fixed the indicator, you no longer need to go 15 minutes past the end time. You can just put in 4:00 to 7:00 or 5:00 to 8:00, or whatever 3 hour window coincides with your broker's GMT time. Just make sure the box ends at the Frankfurt open which is 1 hour before the London open.

Quote
Currencies are still Gbp/Usd, Gbp/Chf, Gbp/Jpy, Gbp/Nzd
I still think the GBP pairs work best, but you can use this on any pair. I would also suggest not trading if the box is over 40 pips.

Quote
Can you provide some examples with screens and description of situations?
I think, it will be very helpful for novices
I will see what I can due, but I'm very limited on time with other projects so it might be a day or so to put up some examples.
  • #94
  • Mar 12, 2010 2:11am Mar 12, 2010 2:11am
Quoting mer071898
I would also suggest not trading if the box is over 40 pips
May be make checking for that inside indicator's code?

So, if am I right, here are next rules:
1. Working borders of box are from 4GMT to 7GMT
2. Preferred pairs: GBP-pairs
3. Working timeframe: 15minutes only
4. If height of box is more than 40pips - do not trade

any else moments?
  • #95
  • Mar 13, 2010 11:59am Mar 13, 2010 11:59am
you can say anything you want but this week was BIIIIG move for jpy crosses!!! thnks
  • #96
  • Mar 14, 2010 8:41pm Mar 14, 2010 8:41pm
Quote
So, if am I right, here are next rules:
1. Working borders of box are from 4GMT to 7GMT
2. Preferred pairs: GBP-pairs
3. Working timeframe: 15minutes only
4. If height of box is more than 40pips - do not trade

any else moments?
None that I can think of right now, but feel free to experiment as much as possible to find the best use out of it.

Quote
you can say anything you want but this week was BIIIIG move http://cdn.forexfactory.com/images/s.../yim/happy.gif for jpy crosses!!! thnks
You're welcome. Every pair will have it's good and bad days, that's why it may be best to use several non-correlated pairs to mix it up a little.

I've actually changed it a little bit and moved the Level 3 Stop a little farther out up to Level 1 to be able to lock in a few pips instead of being a breakeven trade.

I've also added a pic to show the initial entry and stop (Black circle and rectangle) and the breach of each level and where the stop moved to. Each level is color coordinated with the new stop level.
Attached Image (click to enlarge)
Click to Enlarge Name: london box.jpg Size: 117 KB
Attached File(s)
File Type: mq4 London Box.mq4   5 KB | 608 downloads
  • #97
  • Mar 17, 2010 1:54pm Mar 17, 2010 1:54pm
Quoting mer071898
None that I can think of right now, but feel free to experiment as much as possible to find the best use out of it.

You're welcome. Every pair will have it's good and bad days, that's why it may be best to use several non-correlated pairs to mix it up a little.

I've actually changed it a little bit and moved the Level 3 Stop a little farther out up to Level 1 to be able to lock in a few pips instead of being a breakeven trade.

I've also added a pic to show the initial entry and stop (Black circle and rectangle) and the breach of each level...
Have you updated post 1 due to the changes you've made?
  • #98
  • Mar 22, 2010 12:39am Mar 22, 2010 12:39am
Quoting mer071898
I've also added a pic to show the initial entry and stop (Black circle and rectangle) and the breach of each level and where the stop moved to. Each level is color coordinated with the new stop level.

http://cdn.forexfactory.com/attachme...1&d=1268624446
mer071898, can you add another one example at GBP/USD, please?

Thanks!
  • #99
  • Mar 22, 2010 8:36pm Mar 22, 2010 8:36pm
Here you go, last night was a another great example. First trade was stopped out at Level two for about 9 pips, but then you were able to re-enter two candles later for a straight run up to level 5 for roughly a 120 pip gain. even if you just started out small with maybe .1 lots the first trade and lost $9, you could have entered the second trade, doubling up with .2 lots, and made $240.
Attached Image (click to enlarge)
Click to Enlarge Name: london box.jpg Size: 110 KB
  • #100
  • Feb 26, 2017 11:20pm Feb 26, 2017 11:20pm
gbpjpy's volatility is huge.
this pair work well with your method
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