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0400-0700 GMT Breakout Strategy

  • #181
  • Jul 23, 2009 8:15pm Jul 23, 2009 8:15pm
Quoting DesertFX
Fed,

Can you summarise your exact criteria on how you trading this now?

i.e. what time (in gmt), stop loss, and take profit

Why do you think it is so good? How long have you back tested this my friend?

Many thanks
Mo
It seems there is variation of this method already which is fed's method.
  • #182
  • Jul 23, 2009 9:24pm Jul 23, 2009 9:24pm
Quoting Bobcat2
Worthless post...
  • #183
  • Jul 23, 2009 9:45pm Jul 23, 2009 9:45pm
have you guy ever try this strategy with the g/y pair yet?
  • #184
  • Jul 23, 2009 11:19pm Jul 23, 2009 11:19pm
Referring to Fed's method, does anybody set the order for this today?
thank you
  • #185
  • Edited Jul 24, 2009 12:12am Jul 23, 2009 11:54pm | Edited Jul 24, 2009 12:12am
hi
we have very small box today , is that bad or good , does the box has to have a certain size to be considered valid ?
thanks
  • #186
  • Jul 24, 2009 12:56am Jul 24, 2009 12:56am
hi all, I set my pending orders and waiting guys. I hope I end the week with good profit. So far I had 330 pips this week with this method.
  • #187
  • Jul 24, 2009 12:58am Jul 24, 2009 12:58am
Quoting calvk81
have you guy ever try this strategy with the g/y pair yet?
hi, that pair is very good as well for this strategy, that and the e/j. The back testing looks very well. I will start demo on those 2 pairs next week.
  • #188
  • Jul 24, 2009 1:05am Jul 24, 2009 1:05am
Quoting fed
hi all, I set my pending orders and waiting guys. I hope I end the week with good profit. So far I had 330 pips this week with this method.
Thank fed,
LONG order is triggered?
  • #189
  • Jul 24, 2009 1:10am Jul 24, 2009 1:10am
yes my pending order is triggered in at 6517, TP1 at 6547 and TP2 6587. Goog luck to all of us.
Attached Image (click to enlarge)
Click to Enlarge Name: breakout2.jpg Size: 52 KB
  • #190
  • Jul 24, 2009 1:39am Jul 24, 2009 1:39am
hi
EU is doing great today , faster than GU
  • #191
  • Jul 24, 2009 2:32am Jul 24, 2009 2:32am
Quoting dengzhi
ask yourself why should this method succeed consistently time after time? what is it based on?
It's based on the volatility caused at the London open. I thought you may have noticed that?
Gone to a better place
  • #192
  • Jul 24, 2009 3:00am Jul 24, 2009 3:00am
samer960
I have a EURGBP chart next to eur/usd and gbb/usd-cut the gbp/usd position (currently flat) as eur/gbp is looking good, as is eur/jpy, so strong euro with what looks like a weak pound this morning.
And yes I think correlation is important
  • #193
  • Jul 24, 2009 3:06am Jul 24, 2009 3:06am
For the original strategy
the LONG order is triggered
however, the price is falling. I am not so optimistic on today result.
  • #194
  • Jul 24, 2009 3:15am Jul 24, 2009 3:15am
Yesterday your losses were caused by a Stop hunt to each side of the range/box. If orders had been placed at each side, then your loses would have been x 2. Today's PA is just enough to trigger orders above 16535...if this falls below the box, triggers your SL, activates the other order and pops back in the box, then you know you are about to be screwed again.

The order book is just that...they know exactly where most orders sit, the rest they can guess.

A range like this is perfect for the market movers to take out tight stops.


Sometimes it is better for them (movers) to allow a certain formation to form...ie this 1hr Head and shoulders and throw the direction...invalidating the "dead cert" senario "after" it has formed...only way to find out is to watch and wait.

Excellent method though, been in use for years and IS profitable, if used with correct MM. Adding 2 x positions would have cost dearly yesterday if both SL's hit. I would suggest 1 x position and if it fails, do not enter until next day. July and August are not good for trading, most yearly losses can be found around these months due to the crazy PA.

Lets see if the buggers hit both sides of the box...and both your SL's...for the 2nd day in a row. I hope for your sake that they don't.

Happy trades.
  • #195
  • Jul 24, 2009 3:15am Jul 24, 2009 3:15am
Hi Fed/everyone
AM sure this has been asked many times so I apologise. Am a bit confused by Fed's entry level today and think I have my times wrong. I'm looking at my chart, and using LONDON time (not GMT) from 4-7am, my entry would be at 1.6526-the last candle spiked up a bit. Even allowing for different timeframes if I'm wrong on my own, I can't see where the entry would be set for 1.6517? Only thing I can see is the 6.30am London candle that closed at 1.6513? I use ODL so obviously prices might be off by a few pips, but still, I can't see a reason for such a discrepancy?
  • #196
  • Jul 24, 2009 3:27am Jul 24, 2009 3:27am
Quoting bootsyjam
Hi Fed/everyone
AM sure this has been asked many times so I apologise. Am a bit confused by Fed's entry level today and think I have my times wrong. I'm looking at my chart, and using LONDON time (not GMT) from 4-7am, my entry would be at 1.6526-the last candle spiked up a bit. Even allowing for different timeframes if I'm wrong on my own, I can't see where the entry would be set for 1.6517? Only thing I can see is the 6.30am London candle that closed at 1.6513? I use ODL so obviously prices might be off by a few pips, but still, I can't see a reason...
fed's second line isn't exactly from euro opens; it's ONE hour before euro opens, check out a post here somewhere he mentioned earlier. since euro opens at 7am LONDON time, so ur second line shud be at 6am LONDON time. that's what i gather so far, but hope i'm right!
  • #197
  • Jul 24, 2009 3:33am Jul 24, 2009 3:33am
Quoting sooyen
fed's second line isn't exactly from euro opens; it's ONE hour before euro opens, check out a post here somewhere he mentioned earlier. since euro opens at 7am LONDON time, so ur second line shud be at 6am LONDON time. that's what i gather so far, but hope i'm right!
its post#133, he will enter after 6.30 uk time, before euro open
  • #198
  • Jul 24, 2009 3:37am Jul 24, 2009 3:37am
thanks fourx, I was familiar with the big dog strategy so missed that one
  • #199
  • Jul 24, 2009 3:39am Jul 24, 2009 3:39am
Quoting FOURX
its post#133, he will enter after 6.30 uk time, before euro open
ah yes, that's right. he enters @ 6.30am, when the 6am 30M candle closes.

and not forgetting for long entry, there's a 7 pip buffer + spread. unfortunately for today, SL for long was hit.
  • #200
  • Jul 24, 2009 3:44am Jul 24, 2009 3:44am
Quoting sooyen
ah yes, that's right. he enters @ 6.30am, when the 6am 30M candle closes.

and not forgetting for long entry, there's a 7 pip buffer + spread. unfortunately for today, SL for long was hit.

yes,post#112 is where he gives this information
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