0400-0700 GMT Breakout Strategy | Page 45 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

FXDD GMT+2 or GMT+3 10 replies

What does GMT shift and GMT shift Sun do in this indicator? 0 replies

MBO = Monday Break Out 8 utc gmt - 7 utc gmt 22 replies

What is the best server time for H4 trading? GMT+0, GMT+1 or GMT+2? 10 replies

web charting package with GMT +2 or GMT 2 replies

Attachments: 0400-0700 GMT Breakout Strategy
Exit Attachments

0400-0700 GMT Breakout Strategy

  • #881
  • Aug 17, 2009 2:21am Aug 17, 2009 2:21am
Quoting fed
I was out of internet connection , I got online again. breaking even now with g/u and still waiting for g/j, came close but with few pips I didn't hit my first profit yet.
Out with profit
G/U: TP1 = 30pip TP2 = 75pip
and
G/J: TP1= 30pips TP2 = 0
  • #882
  • Aug 17, 2009 2:26am Aug 17, 2009 2:26am
Quoting wltam
Out with profit
G/U: TP1 = 30pip TP2 = 75pip
and
G/J: TP1= 30pips TP2 = 0
good profit tonight, I am out as well with both pairs, time for bed
  • #883
  • Aug 17, 2009 3:33am Aug 17, 2009 3:33am
Hi all. Booked good profits today.
GU: 47 pips at TP1, 70 pips at TP2 making a total of 117 pips.
GJ: 50 pips at TP1, looking to target 200 pips at TP2, so my TP2 is still on, but I have moved my stop loss to break even so I'm not risking anything.
  • #884
  • Aug 17, 2009 6:05am Aug 17, 2009 6:05am
Quoting wltam
Out with profit
G/U: TP1 = 30pip TP2 = 75pip
and
G/J: TP1= 30pips TP2 = 0
Hi wltam,
Was this with your ea? I put the ea on a demo account and it never placed the trades? The orders came up in the experts tab but never actually happened. Any ideas?
I can't do this system manually as I live in Australia and dont get home from work until 8 gmt, Which by then quite a few breakouts have already happened.

Thanks

Grant
  • #885
  • Aug 17, 2009 7:34am Aug 17, 2009 7:34am
Quoting biz0101
Have you enabled ea's for live trading in mt4 settings?
Yep, I'm running other ea's on this account.

So iansr1, have you found a system that works for you yet?
  • #886
  • Aug 17, 2009 8:25am Aug 17, 2009 8:25am
Quoting biz0101
Have you enabled ea's for live trading in mt4 settings?
Please check those settings
and also the properties
Attached Image (click to enlarge)
Click to Enlarge Name: EA01.jpg Size: 139 KB
Attached Image
  • #887
  • Aug 17, 2009 8:29am Aug 17, 2009 8:29am
Hi NEVIC,

yes i have, i am trading these breakout set ups. i only trade the GBPJPY.
My first trade of the week is the 22:00 - 02:00GMT weekly breakout. I only do this set up on Mondays and aim for 100 pips. Then the rest of the week i do the same time but aim for just 15 pips. I also look at the 2:00 - 5:00gmt breakout set up as well. Again aiming for 15 pips.

Quoting nevic
Yep, I'm running other ea's on this account.

So iansr1, have you found a system that works for you yet?
  • #888
  • Aug 17, 2009 8:43am Aug 17, 2009 8:43am
I should of left it and go to bed, could of had more profit. Usually the smaller the box the greater the profit. Iwon't forget that again. I mean the box for g/u was only 44 pips and g/j was 77 pips.
  • #889
  • Aug 17, 2009 9:08am Aug 17, 2009 9:08am
wltm, hi. I have some qiestions about your EA.

If I set up the turn on spread to true, will that turn it on for both long and short or just long?

place you order at hour setting, is that where I can set the 5am GTM box? and counting 13 bars from 5am(right side) will line up exactly at 2-5? default I see is 8, should I set it to 5?which I already did...

and how about SL? how do I set the SL?

thanks for your help
  • #890
  • Aug 17, 2009 9:21am Aug 17, 2009 9:21am
If I set up the turn on spread to true, will that turn it on for both long and short or just long?
Both


place you order at hour setting, is that where I can set the 5am GTM box? and counting 13 bars from 5am(right side) will line up exactly at 2-5? default I see is 8, should I set it to 5?which I already did...
yes...u should set it to 5
as i 5-8 GMT +1 for my box in FxPro

you use 2-5 now!?


and how about SL? how do I set the SL?
there is buffer for SL
SL_factor, which i use 0.764 of the range as my SL line
max_SL range is the max SL


thanks for your help [/quote]
  • #891
  • Aug 17, 2009 10:00am Aug 17, 2009 10:00am
Ahh i use 6-9 in my fxpro did well last night with GU and GJ
TP1 30 TP2 60 TP3 100 on both GU and GJ
  • #892
  • Aug 17, 2009 10:05am Aug 17, 2009 10:05am
Quoting wltam
If I set up the turn on spread to true, will that turn it on for both long and short or just long?
Both


place you order at hour setting, is that where I can set the 5am GTM box? and counting 13 bars from 5am(right side) will line up exactly at 2-5? default I see is 8, should I set it to 5?which I already did...
yes...u should set it to 5
as i 5-8 GMT +1 for my box in FxPro

you use 2-5 now!?


and how about SL? how do I set the SL?
there is buffer for SL
SL_factor, which i use 0.764 of the range as my SL line
max_SL range is the max SL...
[/quote]

ok thanks
  • #893
  • Aug 17, 2009 3:12pm Aug 17, 2009 3:12pm
Hi Fed
How do u exactly decide which direction choose for set your order? Are u still using ema 90 or something other?
  • #894
  • Aug 17, 2009 3:37pm Aug 17, 2009 3:37pm
Quoting iansr1
Hi NEVIC,

yes i have, i am trading these breakout set ups. i only trade the GBPJPY.
My first trade of the week is the 22:00 - 02:00GMT weekly breakout. I only do this set up on Mondays and aim for 100 pips. Then the rest of the week i do the same time but aim for just 15 pips. I also look at the 2:00 - 5:00gmt breakout set up as well. Again aiming for 15 pips.


Hi Iansr1
whats your risk for the 15 pips target?
  • #895
  • Aug 17, 2009 6:00pm Aug 17, 2009 6:00pm
Quoting olie02
Hi Fed
How do u exactly decide which direction choose for set your order? Are u still using ema 90 or something other?
hi, I look at 90 and 200, first look at 90 if that is below or up, if that doesn't decide then i look at 200, that should decide but again there will be complicated once then I look at 4hr chart closer for a trend. last night's wasn't a brainer, just look at mas you will know what i mean
  • #896
  • Aug 17, 2009 6:07pm Aug 17, 2009 6:07pm
Today I had the day off and I just finished back testing my new strategy, I set up the rules effectively. I was also on the trade, opened 3 entries, 2 hit for profit, each TP is hit when the price reaches the # of pips I risk. and I am still on the trade for tp3, it touched tp3 and retraced and I locked 50% profit just incase if market decides to go the oposite direction. Should I open a new thread or shall I continue with it here, it is also another breakout strategy. This strategy could take the whole day but it is very reliable so far what I seen and tested out for
  • #897
  • Aug 17, 2009 6:37pm Aug 17, 2009 6:37pm
Quoting fed
hi, I look at 90 and 200, first look at 90 if that is below or up, if that doesn't decide then i look at 200, that should decide but again there will be complicated once then I look at 4hr chart closer for a trend. last night's wasn't a brainer, just look at mas you will know what i mean

I did the same but lately I have looked at daily pivot. If price is above daily pivot I set buy stop and if below I set sell stop. For few days I will be know which is more well-chosen I still search good method how eliminate fault order.
As far as your new method I'm waiting for your rules. I have read Peter Crowns Summary and it seems to be profitable. I just wonder if ur rules are similar like Crowns'a.
  • #898
  • Aug 17, 2009 7:16pm Aug 17, 2009 7:16pm
Quoting olie02
I did the same but lately I have looked at daily pivot. If price is above daily pivot I set buy stop and if below I set sell stop. For few days I will be know which is more well-chosen I still search good method how eliminate fault order.
As far as your new method I'm waiting for your rules. I have read Peter Crowns Summary and it seems to be profitable. I just wonder if ur rules are similar like Crowns'a.
Thanks for your sugestion. I never thougt about looking at daily pivot. I will look at it as well see how well it works, which indi do you use for weekly pivots?

my ibfx metatrader has the indi and it is showing me that the price is higher then the weekly pivot for g/u and g/j. The indi is only works in ibfx metatrader, it is by ibfx
  • #899
  • Aug 17, 2009 7:29pm Aug 17, 2009 7:29pm
Attached Image (click to enlarge)
Click to Enlarge Name: ! gbppip.gif Size: 18 KB


Looks good, Mate. Very much like my setup.
  • #900
  • Aug 17, 2009 9:30pm Aug 17, 2009 9:30pm
Quoting olie02
I did the same but lately I have looked at daily pivot. If price is above daily pivot I set buy stop and if below I set sell stop. For few days I will be know which is more well-chosen I still search good method how eliminate fault order.
As far as your new method I'm waiting for your rules. I have read Peter Crowns Summary and it seems to be profitable. I just wonder if ur rules are similar like Crowns'a.
My setup is similar to this as well, but i also use the 55EMA and if price is below the daily pivot with a neutral or downward sloping 55ema i take only shorts, but if price is below daily with a strong upward 55ema then i will take Long or Short. I also sometimes use 5/8emas to help gauge momentum. Backtested a couple months now on 5 pairs and seems to be working out well.
1 trader viewing now