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0400-0700 GMT Breakout Strategy

  • #821
  • Aug 13, 2009 7:56am Aug 13, 2009 7:56am
Quoting nullfx
is this strategy suitable and profitable for both g/j and e/j also? if so, what is the suitable daily range to trade them...
and if there is anything special you need to do to be profitable trading these currency pairs.....
do you use you the 0400-0700 box to trade these currencies?
hi nullfx, this strategy is different type of breaking, I don't use any box at all, I use the pivot lines. Because the concept is diff then this strategy that is why I will not talk about it here in this thread but later on either Genius or I might open a new thread for this when I feel I am confi with it. For now I am still testing and putting up some rules so it would be profitable. I had some great results tonight as well with g/u not so much with the other 2.
  • #822
  • Aug 13, 2009 7:58am Aug 13, 2009 7:58am
no trade for me tonight. for the others it was a great night for both pairs, I am glad it still worked out either way.

My new style would be 13-14 trades per month and 3-4 loosers. and from those winners 80% would be max of profit.
  • #823
  • Aug 13, 2009 8:08am Aug 13, 2009 8:08am
I set my GU pending orders and fell asleep. I woke up with TP1 a +45 pip winner...great! But, I had slept through and missed the retracement that would have been a BE for TP2. Instead, without setting TP2 to BE, I made another +75 pips with TP2.

I knew I could trade better in my sleep than when awake! LOL
  • #824
  • Aug 13, 2009 8:16am Aug 13, 2009 8:16am
Quoting Bobcat2
I set my GU pending orders and fell asleep. I woke up with TP1 a +45 pip winner...great! But, I had slept through and missed the retracement that would have been a BE for TP2. Instead, without setting TP2 to BE, I made another +75 pips with TP2.

I knew I could trade better in my sleep than when awake! LOL


last time I sleped and what happend was that I hit tp1 but the price came back against me and lost more then I made.
  • #825
  • Aug 13, 2009 9:26am Aug 13, 2009 9:26am
Quoting wawarulez
Just closed with a profit to the north.

I think you guys taking the 1HR MAs when your unsure about the 15M probably isnt the best idea, you've just got to go for it, because the MAs were along the bottom, but hey thats what I do and we all know every1 trades differently.

Hope you guys get ur trades, im off bak to bed! woohoo!!
Yes, you are rite. I did some backtest of using M15 and H1 TF for the indicator. The result is using M15 is better.
Thank you for that

Fed, I am waiting for your new strategy~Hope you success~
Maybe you can start a new thread for that as I think it can give out some idea for the improvement of the new strategy and not necessary to do a few months test for that first ~
Thank a lot
  • #826
  • Aug 13, 2009 10:26am Aug 13, 2009 10:26am
Quoting wltam
Yes, you are rite. I did some backtest of using M15 and H1 TF for the indicator. The result is using M15 is better.
Thank you for that

Fed, I am waiting for your new strategy~Hope you success~
Maybe you can start a new thread for that as I think it can give out some idea for the improvement of the new strategy and not necessary to do a few months test for that first ~
Thank a lot
hey, let me do some back testing first, then I open a new thread.
  • #827
  • Aug 13, 2009 11:02am Aug 13, 2009 11:02am
Quoting biz0101
was that manual testing or automated?
automated
but still need time to further look into the result
  • #828
  • Aug 13, 2009 3:51pm Aug 13, 2009 3:51pm
Going back to the original system; changing the sl point to half the box size instead of the sl being on the other side of the box will reduce losses thus make the system more productive.
  • #829
  • Aug 13, 2009 7:17pm Aug 13, 2009 7:17pm
Quoting genius75
The best for me is

0-4 with FXDD broker and

2-5 with Forex.com

No buffer. Just colored ema 200. That's it.

But fed makes me crazy with his last indicator

GE.
genius,

If Forex.com 2-5, then FXDD is 5-8. (genius, pls confirm)
I am using FXDD, and gained 13% in 10 trading days, now.
Just use 0.1 lot size on 10K demo account, GBPJPY, still add buffer.
Will try without buffer, and 200 MA later. (just need to add this to the code)
Use EA to do this (I modified from jason's code, I guess), I go to bed every night.

see picture.
Attached Image (click to enlarge)
Click to Enlarge Name: 2009-08-13_1913.png Size: 137 KB
Simple is powerful all the time.
  • #830
  • Aug 13, 2009 7:25pm Aug 13, 2009 7:25pm
Quoting bar
Going back to the original system; changing the sl point to half the box size instead of the sl being on the other side of the box will reduce losses thus make the system more productive.
I agreed with testing result.
Simple is powerful all the time.
  • #831
  • Aug 13, 2009 11:41pm Aug 13, 2009 11:41pm
Quoting RiverTrader
genius,

If Forex.com 2-5, then FXDD is 5-8. (genius, pls confirm)
I am using FXDD, and gained 13% in 10 trading days, now.
Just use 0.1 lot size on 10K demo account, GBPJPY, still add buffer.
Will try without buffer, and 200 MA later. (just need to add this to the code)
Use EA to do this (I modified from jason's code, I guess), I go to bed every night.

see picture.
hi, is this the automated EA?
  • #832
  • Aug 13, 2009 11:44pm Aug 13, 2009 11:44pm
Tonight g/j is bearish but g/u is complicated where the MA 90 is in the mid of the box and MA 200 is at the buttom of the 15min chart but yet it is oposite of the 1hr chart.
  • #833
  • Aug 14, 2009 12:13am Aug 14, 2009 12:13am
fed,

What then is your advice regarding trading tonight?

Thanks,
Bob
  • #834
  • Aug 14, 2009 12:23am Aug 14, 2009 12:23am
Quoting Bobcat2
fed,

What then is your advice regarding trading tonight?

Thanks,
Bob
yes both pairs look bearish if you look at 4hr chart
  • #835
  • Aug 14, 2009 12:24am Aug 14, 2009 12:24am
Quoting fed
hi, is this the automated EA?
Yes, it is, hands free trading.
I am still waiting to see which indicator (MA) to add into the code.

-Will share it to all after it's done, if you all like it. :-)

But, genius has confused me on the box time frame.
I am on FXDD, and FXDD is 3 hours ahead of Forex.com.
So, I have been setup the box at 5-8 FXDD time.

genius said 0-4 FXDD time. ?????
Simple is powerful all the time.
  • #836
  • Aug 14, 2009 12:25am Aug 14, 2009 12:25am
The PSAR on both GJ and GU on both the 15 min and 1H charts is showing short (Sell) bias.

I would tend to favor the PSAR over the 2 MA's as a filter.

For what it's worth, my personal bias is to use no indicators at all, because we are "probability" trading and lagging indicators are nothing more than a history map. Lagging indicators are certainly no crystal ball for future price movement.

Just my 2 cents worth...
  • #837
  • Aug 14, 2009 12:27am Aug 14, 2009 12:27am
I am actually in with g/u but the way the MAs are formed it complicates things. but looking at 4 hr chart, a down trend and then it retraced up and now the price hopefully will fall down.
  • #838
  • Aug 14, 2009 12:29am Aug 14, 2009 12:29am
Quoting Bobcat2
The PSAR on both GJ and GU on both the 15 min and 1H charts is showing short (Sell) bias.

I would tend to favor the PSAR over the 2 MA's as a filter.

For what it's worth, my personal bias is to use no indicators at all, because we are "probability" trading and lagging indicators are nothing more than a history map. Lagging indicators are certainly no crystal ball for future price movement.

Just my 2 cents worth...
agreed 100% agree.

It did break the line so I am hoping the best for tonight for all of us
  • #839
  • Aug 14, 2009 12:52am Aug 14, 2009 12:52am
Quoting fed
agreed 100% agree.

It did break the line so I am hoping the best for tonight for all of us

fed, do you trade more than 1 pair, and if you do, do you use the same TP?
Gone to a better place
  • #840
  • Aug 14, 2009 1:45am Aug 14, 2009 1:45am
Quoting fed
agreed 100% agree.

It did break the line so I am hoping the best for tonight for all of us
Sell Order is triggered!
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