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Attachments: 0400-0700 GMT Breakout Strategy
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0400-0700 GMT Breakout Strategy

  • #41
  • Jul 19, 2009 10:47am Jul 19, 2009 10:47am
Quoting forexisfx
I'm just saying generally since I don't know you personally
never mind.. peace...

Quoting forexisfx
my backtest result looks good [backtest include trending and ranging market] , I will go live on Monday since this system is very straight forward [no need price action , no need pivot level , no need trend line] and backtest is 100% correct without any repaint INDICATOR. I am not following exactly as per post #1 becoz it's less profitable than the one i have thought of and backtested but I am following the core of 4-7 highest high lowest low break out.
I really want to hear about your settings. We can improve this strategy all together this is the target of this thread and this forum..
  • #42
  • Jul 19, 2009 10:53am Jul 19, 2009 10:53am
Quoting tasciy
gbpusd results on 08 june to 06 july

980 pips in a month (21days)

http://img18.imageshack.us/img18/9643/resgu.png

Is 980 pips the agregate win for 2 lots?
Regards
  • #43
  • Edited 11:18am Jul 19, 2009 11:01am | Edited 11:18am
Quoting howard
Is 980 pips the agregate win for 2 lots?
yes, 1lot for tp30 1lot for tp60. i double when sl hit.
if tp1 and tp2 hit i add 90pips. but if sl is hit and height of band is 100pip i added -100x2= -200 pips.
  • #44
  • Jul 19, 2009 11:29am Jul 19, 2009 11:29am
Quoting sooyen
Thank you for sharing this tasciy!

My questions are: You use this strategy even when there are big news out for the day, yes? Do the news usually help you to profit (faster?), or otherwise?
news are help to profit faster because when buy or sell order hits it is usually goes to target profit quickly. 30pip is optimum pip for first tp i think.

Quoting wltam
can you share the EA?
Thank you~~~
i dont have EA.
  • #45
  • Jul 19, 2009 12:27pm Jul 19, 2009 12:27pm
Testing this method I get excellent results March 9th, 2009 through today.

Testing January 1st, 2009 through March 8th, 2009 would have suffered a very large draw down on your account.

March 8th is when the US changes time for DST.

These results assume we use the same GMT time for trading in both standard and daylight savings time. Do you have a recommendation for trading the "fall" time instead of the "spring" time? Do you think that has anything to do with the losses in the January - March time frame?

January - March Results:
Attached Image (click to enlarge)
Click to Enlarge Name: january - march testing.jpg Size: 98 KB


March - July Results:
Attached Image (click to enlarge)
Click to Enlarge Name: march - july testing.jpg Size: 90 KB
  • #46
  • Jul 19, 2009 12:32pm Jul 19, 2009 12:32pm
tasciy i look forward to tomorrows trade well done
"The person who knows that enough is enough, will always have enough". .
  • #47
  • Jul 19, 2009 12:42pm Jul 19, 2009 12:42pm
Quoting tasciy
yes, i tested 4:00-7:30 but in real account i use 4:00-7:00 or 4:00-8:00 or whenever i wake up. and i also use other pairs not only g/u. i will post results of other pairs.
You have just partially answered my question. So the charts shown are 4:00-7:30am however your strategy (live account) is 4:00 -7:00am, as stated in your first post(just what i thought).

I'll PM you later in the week with my findings on various pairs and various time bands.

Happy trading

Z
  • #48
  • Jul 19, 2009 4:40pm Jul 19, 2009 4:40pm
Quoting jasonphd
Testing this method I get excellent results March 9th, 2009 through today.

Testing January 1st, 2009 through March 8th, 2009 would have suffered a very large draw down on your account.

March 8th is when the US changes time for DST.

These results assume we use the same GMT time for trading in both standard and daylight savings time....
after DST is over i think it would be better to use 05:00-08:00 gmt.

07:00gmt =08:00 london summer
08:00gmt =08:00 london winter

can you test january 1st to march 8th with 05:00-08:00 gmt settings.
thanks for results.
  • #49
  • Jul 19, 2009 6:08pm Jul 19, 2009 6:08pm
Quoting tasciy
after DST is over i think it would be better to use 05:00-08:00 gmt.

07:00gmt =08:00 london summer
08:00gmt =08:00 london winter

can you test january 1st to march 8th with 05:00-08:00 gmt settings.
thanks for results.
Using the 5:00-8:00 gmt time frame from january to march is better than 4-7, but not very profitable. Here are the results from my testing:

Attached Image (click to enlarge)
Click to Enlarge Name: january - march testing - 2.jpg Size: 95 KB


If profit alone is the only goal, my testing says the best time frame for January 1st 2009 - March 8th 2009 was 2:00 - 5:00 gmt and for March 9th 2009 - July 18th 2009 was 4:00 - 7:00 gmt.

Note that I'm using the following rules in my testing (correct me if they are wrong):
1. For a 4:00 - 7:00 gmt range I draw the box starting at the 4:00 30 minute candle and end the box on the 7:00 30 minute candle.
2. I place stop orders at 7:31 (right after the close of the 7:00 30 minute candle) on each side of the box. I place a total of 6 stop orders (3 buys and 3 sells with TP levels at 30, 60, and 90).
3. If TP1 at 30 pips is hit, I reset the S/L for the remaining 2 trades of that type to break even and let them run until they hit their 60 or 90 tp (or their s/l at breakeven).
  • #50
  • Jul 19, 2009 7:42pm Jul 19, 2009 7:42pm
[quote=zuret9;2884623]You have just partially answered my question. So the charts shown are 4:00-7:30am however your strategy (live account) is 4:00 -7:00am, as stated in your first post(just what i thought).

I'll PM you later in the week with my findings on various pairs and various time bands.

Happy trading

Z[/quote

You were wrong eh taff
  • #51
  • Jul 19, 2009 11:09pm Jul 19, 2009 11:09pm
Quoting jasonphd
Using the 5:00-8:00 gmt time frame from january to march is better than 4-7, but not very profitable....
thanks for results. what EA did you use?

(my settings on first page are only have two tp. tp1=30 and tp2=60 after 30pips hit i move stoploss to breakeven level.)
  • #52
  • Jul 19, 2009 11:23pm Jul 19, 2009 11:23pm
I would not trade a pre london range over 100 pips. Perhaps this helps you with your method. You will have a higher hit rate if you target 60 pips break even at 30 and go for gold providing the range is below 100 pips. Otherwise you are risking too much for so little. Its fine to have 2 wins = 1 loss, as its a high hit rate system, but taking a 120 pip hit for 30 pips is just stupid and defys one of the major rules of trading.

Try a backtest with range = >99 pips.

Best to take profits off the table when they are there rather than extend the risk especially since you are playing a break, which is market stop hunting.
  • #53
  • Jul 19, 2009 11:28pm Jul 19, 2009 11:28pm
Here is my chart....please advise whether there is variation
Thank you
Attached Image (click to enlarge)
Click to Enlarge Name: GU.JPG Size: 124 KB
  • #54
  • Jul 19, 2009 11:30pm Jul 19, 2009 11:30pm
Does it mean that from 0700 to 0730 the range will become larger?

Thank you
Quoting forexisfx
yes you are right. I did some back test for a few months [eye balling each and every trade and write down the profit and loss] and it turns out using 1M is better than using 30M. Using 1M means u will start placing limit order once it's 7:01 whereas using 30M u will start placing limit order once it's 7:30

1M has smaller SL and it enter the trade earlier to catch the 30 pips
  • #55
  • Jul 20, 2009 12:48am Jul 20, 2009 12:48am
Quoting jasonphd
Using the 5:00-8:00 gmt time frame from january to march is better than 4-7, but not very profitable.
0300-0800gmt time frame results that i tested manually:

02jan-06march

http://img27.imageshack.us/img27/6595/resultjanmar.png
  • #56
  • Jul 20, 2009 1:06am Jul 20, 2009 1:06am
Quoting tasciy
0300-0800gmt time frame results that i tested manually:

02jan-06march

http://img27.imageshack.us/img27/6595/resultjanmar.png
Now do it with my range suggestions as above and i bet you those losses dont exist.
  • #57
  • Jul 20, 2009 1:14am Jul 20, 2009 1:14am
Quoting Takisd
I would not trade a pre london range over 100 pips. Perhaps this helps you with your method. You will have a higher hit rate if you target 60 pips break even at 30 and go for gold providing the range is below 100 pips. Otherwise you are risking too much for so little. Its fine to have 2 wins = 1 loss, as its a high hit rate system, but taking a 120 pip hit for 30 pips is just stupid and defys one of the major rules of trading.

Try a backtest with range = >99 pips.

Best to take profits off the table when they are there rather than extend the...
sure it would be helpful. i will try. thanks..
  • #58
  • Edited 3:14am Jul 20, 2009 3:00am | Edited 3:14am
Thanks for starting this thread.

As I said in the Big Dog thread, I have been using this method on my live account for the past 2 weeks.

I only go for 1 trade a day at 7 GMT and only 30 pips.

Very profitable.

This morning = 30 pips under 30 min.

Thanks again and may the pips follow you.
  • #59
  • Jul 20, 2009 3:00am Jul 20, 2009 3:00am
Quoting forexisfx
my backtest result looks good [backtest include trending and ranging market] , I will go live on Monday since this system is very straight forward [no need price action , no need pivot level , no need trend line] and backtest is 100% correct without any repaint INDICATOR. I am not following exactly as per post #1 becoz it's less profitable than the one i have thought of and backtested but I am following the core of 4-7 highest high lowest low break out.
manage to take some money from GBPUSD live account. It was like 2 sec from entry to take profit.
  • #60
  • Jul 20, 2009 3:02am Jul 20, 2009 3:02am
yes
i think it's great

just closed the order with TP 30 pips for today


Quoting matlobien
Thanks for starting this thread.

As I said in the Big Dog thread, I have been using this method on my live account for the past 2 weeks.

I only go for 1 trade a day at 7 GMT and only 30 pips.

Very profitable.

This morning = 30 pips under 15 min.

Thanks again and may the pips follow you.
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