0400-0700 GMT Breakout Strategy | Page 11 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

FXDD GMT+2 or GMT+3 10 replies

What does GMT shift and GMT shift Sun do in this indicator? 0 replies

MBO = Monday Break Out 8 utc gmt - 7 utc gmt 22 replies

What is the best server time for H4 trading? GMT+0, GMT+1 or GMT+2? 10 replies

web charting package with GMT +2 or GMT 2 replies

Attachments: 0400-0700 GMT Breakout Strategy
Exit Attachments

0400-0700 GMT Breakout Strategy

  • #201
  • Jul 24, 2009 3:44am Jul 24, 2009 3:44am
Seems like much the same as yesterday-big news announcement acting as a brake on any market move that normally would have followed through, then a bad result sent the £ through the floor
  • #202
  • Jul 24, 2009 3:46am Jul 24, 2009 3:46am
hi
do we leave the pending short open or we cancel it when the long is triggered ? i left it , so i am short now
thanks
  • #203
  • Jul 24, 2009 3:53am Jul 24, 2009 3:53am
Quoting samer960
hi
do we leave the pending short open or we cancel it when the long is triggered ? i left it , so i am short now
thanks
For a newbie, i suggest you immediately cancel the pending (opposite) order once an order is triggered. For me, I make it a point to only trade once a day. If i get stop out, I wait for the next day. Its part of money management. Like what happened in GU today. The long has been triggered but got stopped out. I do not enter on the short position. That's enough trading for this day. Wait next week for another trade. Goodluck to you!
  • #204
  • Jul 24, 2009 5:35am Jul 24, 2009 5:35am
Hello people ..

Can anyone post High / Low box range for GBP/USD today.
I want to verify if I am looking to proper range on my brokers platform.

Thanks.
  • #205
  • Jul 24, 2009 5:57am Jul 24, 2009 5:57am
this is the box of today
Quoting fxgg
Hello people ..

Can anyone post High / Low box range for GBP/USD today.
I want to verify if I am looking to proper range on my brokers platform.

Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: gu box.gif Size: 17 KB
  • #206
  • Jul 24, 2009 6:00am Jul 24, 2009 6:00am
Quoting fxgg
Hello people ..

Can anyone post High / Low box range for GBP/USD today.
I want to verify if I am looking to proper range on my brokers platform.

Thanks.

Here is the chart of GU today.

Attached Image (click to enlarge)
Click to Enlarge Name: gu072409.gif Size: 18 KB
  • #207
  • Jul 24, 2009 6:40am Jul 24, 2009 6:40am
Using 3.00-6.00am (UK time) the high on GU was 16496.5; low was 16478.5.

Good profit from long then short.

Quoting fxgg
Hello people ..

Can anyone post High / Low box range for GBP/USD today.
I want to verify if I am looking to proper range on my brokers platform.

Thanks.
  • #208
  • Jul 24, 2009 8:52am Jul 24, 2009 8:52am
ending the week with a loss , but overall 228 pips this week.
  • #209
  • Jul 24, 2009 9:06am Jul 24, 2009 9:06am
Quoting buffalopip
Here are the box indies for this trading style ... two different types of boxes and both adjustable for time .... I like the NewYork box best ... has adjustable profit levels .....
thanks I will place them now and try them.
  • #210
  • Jul 24, 2009 10:46am Jul 24, 2009 10:46am
Quoting samer960
this is the box of today
Thanks everyone for posting the today boxes.
I see that there is ~10 pip buffer on both sides of the boxes, can anyone please clarify at which point you enter the trades.
Also if anyone can point to the actual system rules, as I see some people go for straight breakout with 30pips TP, someone goes for two TP's 30 / 60 ..

Fxgg
  • #211
  • Jul 24, 2009 11:13am Jul 24, 2009 11:13am
The basic concept is simple and has stood the test of time.

Whichever geographical zone you're trading (europe, US etc) then you take the 3 or 4 hour period prior to your local opening time and draw a line at the hi & lo for the period. You then trade any breakout from this channel. Once you have your Hi & Lo timeframe is immaterial, you're now looking solely at PA, the breakout could be 1 minute into your trading time or in 3 hours.

It definitely works well for the Europe opening and I believe for the US too but don't know if it would work during the asian trading period.

If you want to use buffers, your choice; if you want to use 4.00-7.00 or 3.00-6.00 ~ your choice; in a nutshell the method is simple, you mould it around yourself and your own comfort level. One important thing to bear in mind is the simplicity of the strategy, it doesn't need any further complications, if you end up with a chart looking like the Northern Lights you'll almost certainly be looking at more negatives than the one positive you need for the strategy.

Hope this helps

Quoting fxgg
Thanks everyone for posting the today boxes.
I see that there is ~10 pip buffer on both sides of the boxes, can anyone please clarify at which point you enter the trades.
Also if anyone can point to the actual system rules, as I see some people go for straight breakout with 30pips TP, someone goes for two TP's 30 / 60 ..

Fxgg
  • #212
  • Jul 24, 2009 1:02pm Jul 24, 2009 1:02pm
i totally agree with you strada
  • #213
  • Jul 24, 2009 2:04pm Jul 24, 2009 2:04pm
Fed,

Do you use 2:00 - 5:00 GMT, with a 7 pip buffer (plus spread for longs), with two T/P (at 30 and 70), with resetting s/l 2 to break even when t/p 1 is triggered?

If so, I get 102 pips for this week. Please let me know if the attached image does not follow your rules.

Thanks for your help,
Jason

Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy (week of july 20).gif Size: 29 KB
  • #214
  • Jul 24, 2009 3:04pm Jul 24, 2009 3:04pm
Quoting jasonphd
Fed,

Do you use 2:00 - 5:00 GMT, with a 7 pip buffer (plus spread for longs), with two T/P (at 30 and 70), with resetting s/l 2 to break even when t/p 1 is triggered?

If so, I get 102 pips for this week. Please let me know if the attached image does not follow your rules.

Thanks for your help,
Jason

Attachment

hi, this weekend I will prepare a guidance with my style of rules, I am tied up right now with work. I looked at your chart there and I saw -46 and -48? what are they? and how did you get them? For long if 7 pips + spread and for short 7 pips no spread. I could of had about 130 but on one I got lucky where when I entered in manually the price pulled back like 4-5 pips, I think it was on wednesday and that way my 2nd TP hit for profit for full 100 pips that day, other wise I could of had 130 pip week...... But give me some time, on the weekend I will be off Sunday I w'll post with more details guidance.
  • #215
  • Jul 24, 2009 3:32pm Jul 24, 2009 3:32pm
Quoting fed
hi, this weekend I will prepare a guidance with my style of rules, I am tied up right now with work. I looked at your chart there and I saw -46 and -48? what are they? and how did you get them? For long if 7 pips + spread and for short 7 pips no spread. I could of had about 130 but on one I got lucky where when I entered in manually the price pulled back like 4-5 pips, I think it was on wednesday and that way my 2nd TP hit for profit for full 100 pips that day, other wise I could of had 130 pip week...... But give me some time, on the weekend I...
Those are the stop losses set at the opposite end of the box.
  • #216
  • Jul 24, 2009 4:21pm Jul 24, 2009 4:21pm
Quoting jasonphd
Those are the stop losses set at the opposite end of the box.
I never had any -46 pips SL when my first TP hits for 30 pips profit though, when that happens I make sure the 2nd order breaks even and I don't have a loss, i change the SL to the entry price. I have to check my records but I think I had monday 100 pips, tues 100 pips wed 100 pips and thursay 30 pips and friday -100 pips
  • #217
  • Jul 24, 2009 4:25pm Jul 24, 2009 4:25pm
Quoting fed
I never had any -46 pips SL when my first TP hits for 30 pips profit though, when that happens I make sure the 2nd order breaks even and I don't have a loss, i change the SL to the entry price. I have to check my records but I think I had monday 100 pips, tues 100 pips wed 100 pips and thursay 30 pips and friday -100 pips
I guess I don't know how you set your initial s/l. I assumed it was at the opposite end of the box. Is that not the case?

It could be also that I let buy trades trigger even after sell trades have triggered. Do you cancel your pending orders in the opposite direction when one set is triggered?

Thanks,
Jason
  • #218
  • Jul 24, 2009 4:59pm Jul 24, 2009 4:59pm
Quoting jasonphd
I guess I don't know how you set your initial s/l. I assumed it was at the opposite end of the box. Is that not the case?

It could be also that I let buy trades trigger even after sell trades have triggered. Do you cancel your pending orders in the opposite direction when one set is triggered?

Thanks,
Jason
hehe yes I do cancel the pending orders, I don't want to ask for any trouble. Some days I use to see double breakouts but not anymore, it is a long story. But If I have a winning day I either get 30 pips or 100 pips (the number of pips could change some days depends on the volitility, if I risk more then 60 pips per trade) and no losses, if I loose I loose the whole 2 trades 50 pips per trade or that could be 60 pips as well depends. You will h ave a clear idea when I show some pics for my whole week trades.
  • #219
  • Jul 24, 2009 5:36pm Jul 24, 2009 5:36pm
guys there is another thread in this forum called 7am-9am Big Dog USD Breakout Strategy check it out as well, it is usefull and practise that strategy as well
  • #220
  • Jul 25, 2009 4:29am Jul 25, 2009 4:29am
Quoting tasciy
this strategy is the london open variation of "7am-9am Big Dog USD Breakout Strategy" http://www.forexfactory.com/showthread.php?t=103682
post no1
1 trader viewing now