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Phil Newton's system

  • #1
  • First Post: Aug 3, 2009 11:47am Aug 3, 2009 11:47am
Hi Folks:
I was wondering if there is any interest in a thread dedicated to Phil Newton's breakout strategy. He used to post here as Newtron Bomb but is gone. He has a pay for sight now, but I am interested in seeing if anyone has either tested his method out or is currently using it. It's a breakout, pullback, breakout method based on swing high, swing low of the Asian session. I'd like to have a discussion without having to pay his monthly fee. All feedback or suggestions that stick to his specifics are welcome.

Jim
  • #2
  • Aug 3, 2009 11:48am Aug 3, 2009 11:48am
Quoting bigjim1958
Hi Folks:
I was wondering if there is any interest in a thread dedicated to Phil Newton's breakout strategy. He used to post here as Newtron Bomb but is gone. He has a pay for sight now, but I am interested in seeing if anyone has either tested his method out or is currently using it. It's a breakout, pullback, breakout method based on swing high, swing low of the Asian session. I'd like to have a discussion without having to pay his monthly fee. All feedback or suggestions that stick to his specifics are welcome.

Jim
I subscribed to Newton's site and tried his breakout method.
I wasn't successful with it.
  • #3
  • Aug 3, 2009 1:18pm Aug 3, 2009 1:18pm
Quoting billbss
I subscribed to Newton's site and tried his breakout method.
I wasn't successful with it.
Hi Bill:
Did you try all of the techniques that he has on his site, or did you just use the breakout? He uses some of nomoretoxic's ideas, of waiting for a pullback after the intial break, and then he uses the Asian session hi/lo as a range, which was a little different than other breakouts. I was planning on demoing and posting results here, I'm sure no expert at this or any system, but was hoping together we could make this work or decide not to waste time. Thanks for your time.

Jim
  • #4
  • Aug 3, 2009 1:51pm Aug 3, 2009 1:51pm
I was kindly directed to this thread by another member.

I stopped posting for a number of reasons which I will refrane from mentioning here.

I'm more than happy to discuss my break out strategy as it has been and always will be free access and has been on my site for more 6 years now, only things that have change are intraday targeting and trade management since way back then and have been trading this set up for more than 10 years on a variety of different instruments

Today were some excellent break out trade set ups only captured a few of them CADJPY GBPJPY GBPUSD AUDJPY EURJPY... EURUSD messed me around a little and eded up missing the eventual move.
  • #5
  • Aug 3, 2009 2:00pm Aug 3, 2009 2:00pm
Quoting Newtron Bomb
I was kindly directed to this thread by another member.

I stopped posting for a number of reasons which I will refrane from mentioning here.

I'm more than happy to discuss my break out strategy as it has been and always will be free access and has been on my site for more 6 years now, only things that have change are intraday targeting and trade management since way back then and have been trading this set up for more than 10 years on a variety of different instruments

Today were some excellent break out trade set ups only captured a few of...
Hi Newtron:
Glad to see you here, I didn't know you were still a part of FF. Your website has a lot of great videos and information but it's become a paysite. I don't have any intention of doing anything but trying to get traders opinions and inputs. It would be great if you were still posting here, but I noticed you hadn't posted since last Nov. I figured you were focused on your site. Hope I didn't step on any toes, I really like your ideas, but right now can't afford what you're charging. Good luck and I hope you continue to post on FF. Thanks for your time
  • #6
  • Edited 2:34pm Aug 3, 2009 2:26pm | Edited 2:34pm
HI,

I still come to FF as it has the best calendar

Ive closed off a lot of the free stuff for now while I'm doing a site upgrade and overhaul which has been partly susbcription based coming into its 6th year.

Regardsing break out trading and its many variations... there are so many ways to skin this cat and a break out comes in lots of different forms and interpretations.

I think the main thing to avoid with pattern break outs is what the text books tell you which is to place a buy order above and a sell order below an consol patter... close your eyes and hope for the best. There are too many false breaks and shuttle runs from one side to another to make it a worth while set up in FX.

From an intraday perspective I find it best to use the pattern as a trigger into what could be a larger movement.

Anyways, Ive got this bookmarked now and I'll try to keep my eye on the thread and help out where I can.

Quoting bigjim1958
Hi Newtron:
Glad to see you here, I didn't know you were still a part of FF. Your website has a lot of great videos and information but it's become a paysite. I don't have any intention of doing anything but trying to get traders opinions and inputs. It would be great if you were still posting here, but I noticed you hadn't posted since last Nov. I figured you were focused on your site. Hope I didn't step on any toes, I really like your ideas, but right now can't afford what you're charging. Good luck and I hope you continue to post on FF. Thanks...
  • #7
  • Aug 3, 2009 7:15pm Aug 3, 2009 7:15pm
Quoting Newtron Bomb
HI,

I still come to FF as it has the best calendar

Ive closed off a lot of the free stuff for now while I'm doing a site upgrade and overhaul which has been partly susbcription based coming into its 6th year.

Regardsing break out trading and its many variations... there are so many ways to skin this cat and a break out comes in lots of different forms and interpretations.

I think the main thing to avoid with pattern break outs is what the text books tell you which is to place a buy order above and a sell order below an consol patter......
Hi Newtron:
Thanks for your reply. Can I take it from your reply that you no longer use the daily ATR as your guide, but are looking for more long term moves? Also, are you still using breakout, pullback and then breakout past top or range? or have you moved to something else. Thanks for your contribution and good luck with your sight, I watch your webinars at another forum, which shall remain nameless, LOL

Jim
  • #8
  • Aug 4, 2009 2:05am Aug 4, 2009 2:05am
Heya Jim!

Wow you have your own thread! unreal.... so are you going to post a chart on how this system works? would be great to see!

Bob
  • #9
  • Aug 4, 2009 3:29am Aug 4, 2009 3:29am
Hi Jim,

Still using ATR as a guide to potential for the day.

Same pattern entry targeting for intraday is based on ATR %'s

longer time frame range patterns I still tend to use pattern height as a potential target level but still manage the trade up to that level if there is a target failure

Quoting bigjim1958
Hi Newtron:
Thanks for your reply. Can I take it from your reply that you no longer use the daily ATR as your guide, but are looking for more long term moves? Also, are you still using breakout, pullback and then breakout past top or range? or have you moved to something else. Thanks for your contribution and good luck with your sight, I watch your webinars at another forum, which shall remain nameless, LOL

Jim
  • #10
  • Aug 4, 2009 3:34am Aug 4, 2009 3:34am
There is a thread with video version of the article showing the pattern step by step... I was banned for posting a text article and one of the reasons I stopped posting last time... even though I have it in writing with permission from the site owners... go figure... trigger happy mod!

Thread is in the strategy section of the site and the videos are hosted on you tube

Quoting bob_inabottle
Heya Jim!

Wow you have your own thread! unreal.... so are you going to post a chart on how this system works? would be great to see!

Bob
  • #11
  • Aug 4, 2009 3:36am Aug 4, 2009 3:36am
Break out video's

http://www.forexfactory.com/t/99395/...trategy-1.html
  • #12
  • Aug 4, 2009 3:36am Aug 4, 2009 3:36am
Hey Phil thanks for coming back. You may be aware that there is a commercial forum here now?

BTW thanks for the youtube videos. Very interesting and helpful.
Gone to a better place
  • #13
  • Aug 4, 2009 3:52am Aug 4, 2009 3:52am
Thanks will check out out... I dont do a lot of surfing the net...call me weird lol and tend to keep my head down adn do my own thing.

Quoting smikester
Hey Phil thanks for coming back. You may be aware that there is a commercial forum here now?

BTW thanks for the youtube videos. Very interesting and helpful.
  • #14
  • Aug 4, 2009 3:54am Aug 4, 2009 3:54am
Quoting Newtron Bomb
Thanks will check out out... I dont do a lot of surfing the net...call me weird lol and tend to keep my head down adn do my own thing.
As a Mancunian I couldn't help noticing you are from Merseyside?
Gone to a better place
  • #15
  • Aug 4, 2009 4:01am Aug 4, 2009 4:01am
Quoting smikester
As a Mancunian I couldn't help noticing you are from Merseyside?
Scoucer you mean
  • #16
  • Aug 4, 2009 4:16am Aug 4, 2009 4:16am
Quoting Newtron Bomb

I'm more than happy to discuss my break out strategy as it has been and always will be free access and has been on my site for more 6 years now, only things that have change are intraday targeting and trade management since way back then and have been trading this set up for more than 10 years on a variety of different instruments
This may seem a bit picky but is it your own break out strategy? I agree that a lot of sites suggest "straddle" or straightforward market orders at the border of the TL or range, but I am sure I have seen the break out/pull back method described elsewhere. Just not as well described as in your videos.
Gone to a better place
  • #17
  • Edited 4:37am Aug 4, 2009 4:32am | Edited 4:37am
Break out trades are not a new thing and the way I have presented it here has been around for several years on various site and posting... you might have seen in on trade2win FXStreet.com and one or two other site when I was of a mind to post on forums more actively.

Its my own in that no-one taught me how to trade and I spent a lot of time hand drawaing charts before I got a PC trying to get familiar with trading and chart patterns.. although I didnt invent the wheel I did invent it but then found that It was nothing new lol like most people you think you find somethign new but these patterns are as old as the hills.

I personally found that doing what the "texts books" said wasnt the best entry option for me and I was frustrated with a limp wristed bracket the range method. GBP today is a really good illustration of shuttle runs back and forth getting you in and stopping you out on a break of Asian session highs and low... someone is going to be really Pi$$ed off with those text book strategies today.

On GBP I'm stil on the side lines waiting for the price action support lows to be breached for a counter trend move or a 2nd break out to a new high aftee what turned out to be a false break out.

Other trades so far today are mostly on the JPY cross rates with some counter trend break out moves and right now I'm looking for an indication of resumption of the uptrends based on other strategy methods.

A lot of the things I have talked about in the past are on the FXStreet.com website if you look under the transcript pages or all the links are on my profile page over there

At the risk of another banning here is the Link to the FXStreet.com tutorials and videos - http://www.fxstreet.com/search/contr...3-2457d23752c6

Mods note there is nothing for sale here all FREE!!!

Quoting smikester
This may seem a bit picky but is it your own break out strategy? I agree that a lot of sites suggest "straddle" or straightforward market orders at the border of the TL or range, but I am sure I have seen the break out/pull back method described elsewhere. Just not as well described as in your videos.
  • #18
  • Aug 4, 2009 4:46am Aug 4, 2009 4:46am
Thanks for the reply, Phil and yes I can see that you have worked hard. I take your point about this morning's break outs and the strategy - you hit the nail on the head. I currently have a market order to sell cable at 1.6922 as I see a significant retracement before we break 1.7. But I may be wrong!
Gone to a better place
  • #19
  • Aug 4, 2009 4:52am Aug 4, 2009 4:52am
Funy you mention that.. as I pretty much have similar thoughs regarding some downside before any further upside.. although the charts will tell all by the end of the day.

One alarm bell for me which higlighted a potential counter trend move was kinda funny realy as when I visited teh newsagents early this am all the papers headlines were about how strong the GBP is and the recession is over and the grass is greener here than over there blah blah... just made me think counter what what the general population must be thinking of doing and the pro's doing some retail stop running and bull traps

Quoting smikester
Thanks for the reply, Phil and yes I can see that you have worked hard which is more than can be said for the majority of posters here. I take your point about this morning's break outs and the strategy - you hit the nail on the head. I currently have a market order to sell cable at 1.6922 as I see a significant retracement before we break 1.7. But I may be wrong!
  • #20
  • Aug 4, 2009 5:09am Aug 4, 2009 5:09am
Hey Phil

Thanks for the link to the vid's... very clear and well thought out.

Can I please ask a few questions about how you would view things?

Attached is todays EUR/JPY 5 min chart, The orange line is the Asian low, price makes a lower low then pulls back so....

1. Do you enter after re-cross of the Asian low or
2. Do you enter after it breaks the new lower low (purple line)

How long do you wait for this kind of set up? US close? UK close? What do you do about trading if the Asian session is in the middle of day be fores range? go to the pub?

Hope you don't mind all my questions about how you trade!


Bob
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