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Attachments: 7am-9am Big Dog USD Breakout Strategy
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7am-9am Big Dog USD Breakout Strategy

  • #1,561
  • Aug 7, 2009 10:50pm Aug 7, 2009 10:50pm
Gangstar1, I finally found where the template went and was able to get it on my chart. Thanks. The trailing stop is still disabled but at least I have the emas. Tom
  • #1,562
  • Aug 8, 2009 8:13am Aug 8, 2009 8:13am
I have been thinking about this idea too even though I planned to start using it from Monday. My plan is to look for 15pips on E/U on a larger lot size and 20pips on G/U also on a larger lot size and ofcourse immediately after the box and be done for the day...If someone can backtest this and feed me on it I will appreciate it and see if it's profitable.
Quoting chngster
Observation: I've noticed there is a breakout usually occuring within 1 to 3 15M candles following the Box. This initial break may be up to (or exceed)+20pips. For example, see last 2 nights (3 & 2 Aug). Clean breakouts with minimal drawdown. Kicking myself that I've stayed in the sidelines with this strategy.

Query: Does anyone here (whose been using this strategy for a while) have an idea/feel about the probability % of falsebreaks immediately following the NY Box?

Intended action: If my observation is >95% correct,...
  • #1,563
  • Aug 8, 2009 10:49am Aug 8, 2009 10:49am
Volcano,

have you enabled expert advisors on your MetaTrader?

Tool-->Options-->Expert Advisors-->Enable
  • #1,564
  • Aug 8, 2009 12:49pm Aug 8, 2009 12:49pm
Quoting nullfx
I have been thinking about this idea too even though I planned to start using it from Monday. My plan is to look for 15pips on E/U on a larger lot size and 20pips on G/U also on a larger lot size and ofcourse immediately after the box and be done for the day...If someone can backtest this and feed me on it I will appreciate it and see if it's profitable.
Hi nullfx,

What will be your SL like if you are targeting at 15pips for EU and 20pips for GU?

thanks
  • #1,565
  • Aug 8, 2009 1:55pm Aug 8, 2009 1:55pm
Thanks Gangsta I am sorta new to metatrader and didn't know about that button. It is now showing up as enabled on my chart and I will see how it works when prices go live again. Tom
  • #1,566
  • Aug 8, 2009 5:32pm Aug 8, 2009 5:32pm
Quoting apoptosis
hi
this is my first post,................so what?...
I am sorry but I disagree with your post about NY time and GMT. Right now, NY + 4 = GMT because of daylight savings time. When we fall back then we will be back to NY + 5 = GMT.

So 7-9 AM NY time = 1100-1300 Hrs GMT.
  • #1,567
  • Aug 9, 2009 12:30am Aug 9, 2009 12:30am
Quoting dznmrd
Hi,

Everyones sharing such a lot on ForexFactory, I thought i will take the time to share with all too what i have learnt that works.

I just got this idea from a friend, who gets this idea from another. (nerd)
We called it the Big Dog 1400-1600 USD Breakout Strategy. (Around US OPEN)

Its a simple strategy. You need not have any indicator, just the default ones found in your metatrader.

Daily Profit Potentials: Around 30-50pips +

All you need to do is the following:-

1. Pull out a M15 Chart for a USD Major pair, example like GBPUSD.
2....
Please explain and elaborate:
input what gmt_shift of your broker

Thanks,

Tom
  • #1,568
  • Aug 10, 2009 3:21am Aug 10, 2009 3:21am
Quoting maxximuz
Hi nullfx,

What will be your SL like if you are targeting at 15pips for EU and 20pips for GU?

thanks
Hi maxximuz,
If I'm taking 15pips on E/U, my SL will be on the other side of the box which I have seen that it never gets hit....And if I'm picking 20pips on G/U, my SL is usually 40pips. Maybe there is someone out there who has been trading this method with good results. Such person should pls share what SL is ideal for this method.
  • #1,569
  • Aug 10, 2009 3:31am Aug 10, 2009 3:31am
Quoting dznmrd
Hi,

Everyones sharing such a lot on ForexFactory, I thought i will take the time to share with all too what i have learnt that works.

I just got this idea from a friend, who gets this idea from another. (nerd)
We called it the Big Dog 1400-1600 USD Breakout Strategy. (Around US OPEN)

Its a simple strategy. You need not have any indicator, just the default ones found in your metatrader.

Daily Profit Potentials: Around 30-50pips +

All you need to do is the following:-

1. Pull out a M15 Chart for a USD Major pair, example like GBPUSD.
2....

Ｉ think I might just give this a try.Thanks for the idea, dude.
HELL IS EMPTY, ALL THE DEVILS ARE HERE. -- Shakespeare
  • #1,570
  • Aug 10, 2009 4:02am Aug 10, 2009 4:02am
Quoting nullfx
Hi maxximuz,
If I'm taking 15pips on E/U, my SL will be on the other side of the box which I have seen that it never gets hit....And if I'm picking 20pips on G/U, my SL is usually 40pips. Maybe there is someone out there who has been trading this method with good results. Such person should pls share what SL is ideal for this method.
Do u have any max risk that u willing to take, in order to set your TP = 15pips?

Yes, hope those that traded this method quite some time and with good result can share their MM.

thanks
  • #1,571
  • Aug 10, 2009 9:46am Aug 10, 2009 9:46am
Quoting maxximuz
Do u have any max risk that u willing to take, in order to set your TP = 15pips?

Yes, hope those that traded this method quite some time and with good result can share their MM.

thanks
Hey maxximuz,
Conventionally, what I do is that when I'm targeting 15pips, I set my SL to be 30pips. You could call this 1:2 ratio of r/r. But what matters is that I am sure of the trade i'm taking, otherwise I won't enter.
Right now I have a trade on E/U....I entered short at 1.4159 and targeting 15pips at 1.4144 and my stop loss is 1.4208. Well, this is 49 pips in between. Very unconventional of me, but I'm testing an indi I found on one these posts.
I will post the outcome.

Happy trading.
  • #1,572
  • Aug 10, 2009 10:56am Aug 10, 2009 10:56am
I will post the outcome.

[/quote]

I have hit my take profit of 15pips on E/U on a larger lot size....And already, I had hit 33pips take prifit on G/U, also on a larger lot size...Thus, I'm done for the day and I'm out....

Happy trading.
  • #1,573
  • Aug 10, 2009 11:15am Aug 10, 2009 11:15am
[quote=nullfx;2943954]I will post the outcome.

Quote

I have hit my take profit of 15pips on E/U on a larger lot size....And already, I had hit 33pips take prifit on G/U, also on a larger lot size...Thus, I'm done for the day and I'm out....

Happy trading.

What kind of position size are you using?
% of account or lot size?
Same Whore .... Different Dress
  • #1,574
  • Aug 10, 2009 4:19pm Aug 10, 2009 4:19pm
Quoting tasciy
i filter signal if the range is more than 100pips
if height of box is too low(like 30-40) i use higer tp like 80pip
if range is like 60pips i use 30pip for tp1 and 60 pip tp2
if range is more than 100pip i dont trade.

I will explain again with more info.
Hi tasciy, where do you set the SL? At the other side of the box? Thank you for your help, 07nioe
  • #1,575
  • Aug 11, 2009 11:46am Aug 11, 2009 11:46am
Quoting nullfx
I will post the outcome.
I have hit my take profit of 15pips on E/U on a larger lot size....And already, I had hit 33pips take prifit on G/U, also on a larger lot size...Thus, I'm done for the day and I'm out....

Happy trading.[/quote]

Nullfx do you only trade EU and GU with this method? Also are you placing orders early based on the trend after the box closes e.g. if the first or second 15 minute bar is breaking down go short.

Or are you placing pending orders using the high and low as in the original strategy?

Thanks!
Sandy
  • #1,576
  • Aug 12, 2009 5:59am Aug 12, 2009 5:59am
Quoting bravester
Folks/OP,
Does anyone know the reason why the 7 to 9 AM was chosen for the box vs say the 6 to 8 AM ? US Markets open at 8 AM and i would think the breakout would happen right on open , no?

check out http://www.forexmarkethours.com/


Thanks
I think I can answer that. Because the open of a market often reverses a currency pair. Therefore, the first hour or whatever just buffers the box and allows direction. For example, steviet's thread describes a strategy where he always trades the opposite direction on eur/usd at the London open.
Gone to a better place
  • #1,577
  • Aug 15, 2009 4:38am Aug 15, 2009 4:38am
I took a look at this strategy using the trend indicator given and the auto time highlighting indicator(sorry I'm not very technical yet). Just by eyeballing, I think it's a great filter to use. Looking to 30M and 1h charts for trend confirmation as well as not trading if the range is outside 100 pips seems to be a pretty good strategy. I will start demoing it this week and I'm very excited!
  • #1,578
  • Aug 21, 2009 10:41am Aug 21, 2009 10:41am
nice tips

tested this starting last night on GU.

made 35pips last night.
just now, the false breakout (long) lost me 23pips on stop loss, but got 62pips when it went short.

74pips total in 2 days. i like this x)

thanks!
  • #1,579
  • Aug 24, 2009 2:44pm Aug 24, 2009 2:44pm
http://www.imagenonline.com/img_a173665.gif
  • #1,580
  • Aug 25, 2009 2:59am Aug 25, 2009 2:59am
Quoting aker
http://www.imagenonline.com/img_a173665.gif
aker,

i have been working on the 15 min chart and there seems to be alot of noise using this.

i like the setup you have with the 30 min.

can you please post your indi and a template
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