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0400-0700 GMT Breakout Strategy

  • #521
  • Aug 3, 2009 3:36am Aug 3, 2009 3:36am
Quoting smikester
Forget ea's. Use the F12 key and you'll learn a lot more.
what is F12 key??
Thank ~
WL
  • #522
  • Aug 3, 2009 3:42am Aug 3, 2009 3:42am
Quoting wltam
what is F12 key??
Thank ~
WL

If you scroll back in MT4 to, say, 1st April 2009 on the 30 min chart, making sure chart shift and autoscroll are NOT selected, you can move forward in time using the f12 key. Now all you need is a pencil and a squared pad to record your trades. May I suggest that you do an internet search on break out trading techniques and also search for how to avoid false break outs. Today was an example of stop hunters destroying people like us. You are now seeing cable running away and wondering why you're not on the train. Let me tell you I am not on the train, either, but probably for a different reason.
Gone to a better place
  • #523
  • Aug 3, 2009 3:46am Aug 3, 2009 3:46am
yes, after doing EA tester then open the chart
It can save a lot of time for marking the Entry point~

Of course, I will not just do the EA and only see the result.
What we do is to look into the false breakout.
And, of course, thank for your advice~


Quoting smikester
If you scroll back in MT4 to, say, 1st April 2009 on the 30 min chart, making sure chart shift and autoscroll are NOT selected, you can move forward in time using the f12 key. Now all you need is a pencil and a squared pad to record your trades. May I suggest that you do an internet search on break out trading techniques and also search for how to avoid false break outs. Today was an example of stop hunters destroying people like us. You are now seeing cable running away and wondering why you're not on the train. Let me tell you I am not on the...
  • #524
  • Aug 3, 2009 3:47am Aug 3, 2009 3:47am
A recent GU breakout.
Attached Image (click to enlarge)
Click to Enlarge Name: 8-3-2009 11-35-37 AM.gif Size: 19 KB
Sniffing Snake's Tracks...
  • #525
  • Aug 3, 2009 3:50am Aug 3, 2009 3:50am
Can I just add that today's cable break out for this strategy was against the current trend. How many pips will you get on counter trend trading as opposed to with trend in the long run? Another question: Would you rather miss a really fantastically good trade than be in one which is a loser? Because that is going to happen if you so choose.
Gone to a better place
  • #526
  • Aug 3, 2009 3:51am Aug 3, 2009 3:51am
Quoting FX.Sniffer
A recent GU breakout.
Gone to a better place
  • #527
  • Aug 3, 2009 5:12am Aug 3, 2009 5:12am
  • #528
  • Edited 7:49am Aug 3, 2009 5:13am | Edited 7:49am
Hi all,

i have demoed this method on GBPUSD (15 min chart) since 1st July using Jasons indicator set to the 7 candes up to 5am GMT and trading in the direction of the trend only, established from the 4hr chart (90 EMA close).

like a previous poster i go for 2:1 risk reward. so 50 pips TP (TP2 on indicator), 25 pips SL and if it hits TP1 (+25 pips) SL is moved to break even...

the results for July are

TP 9
SL 3
BE 10
No Trade 1

so +375 pips

this would equate to 15% growth if you risked 1% per trade...

i hope i have explained this ok, any questions just shout..

went live this morning and made +50 pips (pic attached), lovely... lol

cheers

Grant
Attached Image (click to enlarge)
Click to Enlarge Name: gu breakout 030809.gif Size: 21 KB
  • #529
  • Aug 3, 2009 5:28am Aug 3, 2009 5:28am
Quoting grant18265
Hi all,

i have demoed this method on GBPUSD (15 min chart) since 1st July using Jasons indicator set to the 7 candes up to 5am GMT and trading in the direction of the trend only, established from the 4hr chart (90 EMA close).

like a previous poster i go for 2:1 risk reward. so 50 pips TP (TP2 on indicator), 25 pips SL and if it hits TP1 (+25 pips) SL is moved to break even...

the results for July are

TP 10
SL 3
BE 10
No Trade 1

so +375 pips

this would equate to 15% growth if you risked 1% per trade...

i hope i have...
Grant,thanks for sharing, it avoided the false break today. have you done any backtesting using this entry method?

thanks
  • #530
  • Aug 3, 2009 5:35am Aug 3, 2009 5:35am
Hey FourX,

no i have done no backtest on this strategy, just the demoing in July....

cheers
  • #531
  • Aug 3, 2009 6:49am Aug 3, 2009 6:49am
started the week with a loss
  • #532
  • Aug 3, 2009 7:00am Aug 3, 2009 7:00am
Quoting fed
I don't have ema or sma on my metatrader, where can I download them.

never mind I found it now...
Same Whore .... Different Dress
  • #533
  • Aug 3, 2009 7:01am Aug 3, 2009 7:01am
Quoting FX.Sniffer
Hi fed,

Case II was presented on my previous chart by the three golden dotted vertical lines.
Anyway, here is another one for you.

P.S. When the RSI crosses lev50 better to wait for the candle to close in order to confirm RSI's crossing.

Cheers,
hi thanks for your help, I like it, it really makes sence now when I applyed it on my chart, so looks like I should have avoide the last nights' loss by your approach.
  • #534
  • Aug 3, 2009 7:03am Aug 3, 2009 7:03am
Quoting johnedoe
knock yourself out there, I ussually don't use indicators and I have deleted them from my list and went back to the file and got it from there.
  • #535
  • Aug 3, 2009 7:25am Aug 3, 2009 7:25am
Quoting grant18265
Hi all,

the results for July are

TP 10
SL 3
BE 10
No Trade 1

so +375 pips

this would equate to 15% growth if you risked 1% per trade...

i hope i have explained this ok, any questions just shout..

went live this morning and made +50 pips (pic attached), lovely... lol

cheers

Grant
I am real curious about you math here..... I trade 1.5% of account balance at 50:1 leverage and at that level of leverage I need right around 200 pips to add 1% to my account balance.
So, care to enlighten us on how you are getting 15% out of 375 pips?
Same Whore .... Different Dress
  • #536
  • Aug 3, 2009 7:45am Aug 3, 2009 7:45am
EA again

using the average for 1H EMA (90) close within that period as indicator

if the value > low, sell order will be placed
if the value <high, buy order will be placed

please help to test and check if you have time.
Attached File(s)
File Type: ex4 EA_breakout_trend.ex4   10 KB | 363 downloads
File Type: mq4 EA_breakout_trend.mq4   9 KB | 535 downloads
  • #537
  • Aug 3, 2009 7:47am Aug 3, 2009 7:47am
sure.

my leverage is 100:1

i make sure the lotsize used will give 1% loss if 25 pips is hit, likewise if 50 pips TP is hit then it gains 2%....

cheers
  • #538
  • Aug 3, 2009 8:18am Aug 3, 2009 8:18am
Quoting wltam
EA again

using the average for 1H EMA (90) close within that period as indicator

if the value > low, sell order will be placed
if the value <high, buy order will be placed

please help to test and check if you have time.
it won't work at all.. I would drag it to my screen and nothing happens at all
  • #539
  • Aug 3, 2009 8:30am Aug 3, 2009 8:30am
I have asked an ea programmer to code it, maybe Ronald Raygun can do, he is an EA superstar,
Bazza
  • #540
  • Aug 3, 2009 8:46am Aug 3, 2009 8:46am
Fed,
how are you going with your Fib set up? Anything that would have helped to avoid the loss today?
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