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

  • #421
  • Jul 31, 2009 12:33am Jul 31, 2009 12:33am
I am looking at the price tonight and it looks dead and plus it is middle of the box still at this time. I am thinking of staying away from it tonight. I will see how it progresses as I keep watching it.
  • #422
  • Jul 31, 2009 12:36am Jul 31, 2009 12:36am
Quoting sooyen
are u guys gearing up for long in cable? there's a major resistance coming up around .6550 area for g/u.

i hate fridays.
yes I just noticed that as well, as soon as that breaks then that might blow our box tonight.
  • #423
  • Jul 31, 2009 12:37am Jul 31, 2009 12:37am
Jason,

Do you mind I ask you how to set the following parameters for GU and GJ pair?

extern double max_range_SL = 60;
extern double buffer_for_SL = 10;
extern double buffer_for_entry = 7;


RiverTrader
Simple is powerful all the time.
  • #424
  • Jul 31, 2009 12:37am Jul 31, 2009 12:37am
Quoting wawarulez
I have order to buy at 1.6557 so if it breaks barrier I'll be in play, if a trade doesn't trigger how long do you wait to cancel pending orders?

And it might go short
If none of the pending order breaks then keep it till noon EST.
  • #425
  • Jul 31, 2009 12:58am Jul 31, 2009 12:58am
I will leave it for this week, I don't want it to be like last friday. I had a good week, so goodnight and goodmorning.
  • #426
  • Jul 31, 2009 1:00am Jul 31, 2009 1:00am
Quoting fed
I will leave it for this week, I don't want it to be like last friday. I had a good week, so goodnight and goodmorning.
smart move i say. have a good weekend fed!
  • #427
  • Jul 31, 2009 2:55am Jul 31, 2009 2:55am
Quoting fed
I will leave it for this week, I don't want it to be like last friday. I had a good week, so goodnight and goodmorning.
Thanks for the guidance, fed...I also closed out for breakeven...better safe than sorry...

See ya next week
  • #428
  • Jul 31, 2009 8:41am Jul 31, 2009 8:41am
I have just started looking at this method and I think it has some good potential......
I set up trades on 3 pair last night .... EU, UJ, & GU..... the all three were hit in both directions and the end result was positive pips at the end of the final trade.
What I did was to leave both long and short trades on the board but used a trailing stop instead of a hard stop, which resulted in smaller losses on the trades that went against me.

EU Trade....
http://img370.imageshack.us/img370/1...eencapture.png

UJ Trade....
http://img370.imageshack.us/img370/1...encapture1.png

GU Trade....
http://img220.imageshack.us/img220/2...ncapture2e.png
Same Whore .... Different Dress
  • #429
  • Jul 31, 2009 9:57am Jul 31, 2009 9:57am
Please share your # of pips trailing stop.
  • #430
  • Jul 31, 2009 10:02am Jul 31, 2009 10:02am
I did back test Fed's version and so far I found two not profitable months: October 2008 and November 2008 :/ There was 10 lost trade on each month (10 * -60pips = -600) It's too much. I think that actually is good time for this strategy but I don't know how long yet. What do u think?
  • #431
  • Edited 12:47pm Jul 31, 2009 11:42am | Edited 12:47pm
trailing stop was....
EU....25

UJ....20

BU....30

Which was the distance between the highs and lows of the pairs.
Same Whore .... Different Dress
  • #432
  • Edited 5:26pm Aug 1, 2009 6:27am | Edited 5:26pm
Hi there.

What about using Daily Fib numbers to avoid false breaks?

We would take a break only if we have some fib number under or above break.

The best would be just to trade days where all Fib numbers are above or under the break.

Check the picture and the attachment.

GE.
Attached Image (click to enlarge)
Click to Enlarge Name: fib daily numbers.gif Size: 62 KB
Attached File(s)
File Type: mq4 i-IntradayFibonacci.mq4   3 KB | 598 downloads
Some pursue happiness, others create it.
  • #433
  • Edited 10:15am Aug 1, 2009 9:10am | Edited 10:15am
Quoting olie02
I did back test Fed's version and so far I found two not profitable months: October 2008 and November 2008 :/ There was 10 lost trade on each month (10 * -60pips = -600) It's too much. I think that actually is good time for this strategy but I don't know how long yet. What do u think?
The fact that this method is working even in this chaotic ranging market says a lot about the robustness of the system....... I would expect much better results once the market starts trending again.

Just something for you to think about....... And while your thinking, you might want to read this and contemplate the ramifications regarding your future as a trader and what it will require of you.
Same Whore .... Different Dress
  • #434
  • Edited 12:28pm Aug 1, 2009 12:06pm | Edited 12:28pm
Quoting genius75
Hi there.

What about using Daily Fib numbers to avoid false breaks?

We would take a break only if we have some fib number under or above break.

The best would be just to trade days where all Fib numbers are above or under the break.

Check the picture and the attachment.

GE.

Thanks, sounds great, I will use it. Ok so the fibs that show above the break low line so this will be a false break if the price breaks the low line, but instead we will look for it to break the high line later on?
  • #435
  • Aug 1, 2009 2:31pm Aug 1, 2009 2:31pm
yes. exactly.

ge.

Quoting fed
Thanks, sounds great, I will use it. Ok so the fibs that show above the break low line so this will be a false break if the price breaks the low line, but instead we will look for it to break the high line later on?
Some pursue happiness, others create it.
  • #436
  • Aug 1, 2009 8:09pm Aug 1, 2009 8:09pm
Please elaborate...I am not certain what you mean.

Thanks.
  • #437
  • Aug 1, 2009 10:11pm Aug 1, 2009 10:11pm
Genius thanks again for the fibs indicator, wow it is amazing. It won't make your trades perfect but you sure can filter most of the bad trades and get your winning rate higher.
  • #438
  • Edited 11:16pm Aug 1, 2009 10:26pm | Edited 11:16pm
Look at the pic and you all will know what I mean, just make sure don't enter to breakouts if the fib line is above or belows the breakout line. In this example the fib top line is below the breakout line which is telling you clearly that it is a fake and the price will move lower when it retraces. So set your pending orders lower line for a breakout. Again it is not perfect but it will correct most of it.
Attached Image (click to enlarge)
Click to Enlarge Name: break8.jpg Size: 95 KB
  • #439
  • Aug 2, 2009 12:15am Aug 2, 2009 12:15am
Quoting genius75
Hi there.

What about using Daily Fib numbers to avoid false breaks?

We would take a break only if we have some fib number under or above break.

The best would be just to trade days where all Fib numbers are above or under the break.

Check the picture and the attachment.

GE.
Thank you.

But it seem that it is difficult to see the fib line when we place the order
  • #440
  • Aug 2, 2009 12:36am Aug 2, 2009 12:36am
Quoting wltam
Thank you.

But it seem that it is difficult to see the fib line when we place the order

hi, you have the option to make them thicker from the colors tab.
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