New Day breakout by fed | Page 4 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

5 day breakout indicator 8 replies

20 Day Breakout Indicator 5 replies

Day Trading With Short Term Price Patterns and Opening Range Breakout 6 replies

1 trade a day breakout system based on Bigdog 9 replies

Inside day breakout 3 replies

Attachments: New Day breakout by fed
Exit Attachments

New Day breakout by fed

  • #61
  • Aug 27, 2009 9:41pm Aug 27, 2009 9:41pm
Hi guys, I will stay away tonight from this trade, I will just watch it though. Because the markets are slow and it is friday and plus I had a great week, I don't want to go to my weekend with a loss.

Have a great weekend all of you.
  • #62
  • Aug 27, 2009 9:45pm Aug 27, 2009 9:45pm
i attached some of the data regarding this system from 2007 to 2009
hope this useful

TimeToStr(orderOpen) :just the date only
highest : highest of the range (the body of the candle)
lowest :lowest of the range(same)
buy_hit : if the buy order triggerred. (1 mean trigger)
max : the max value after trigger and before hit the stoploss or close order at 22:00)
SL_buy : if the buy order hit the SL finally. (1 mean hit)
sell_hit
min
SL_sell
Attached File(s)
File Type: xls fed.xls   183 KB | 462 downloads
  • #63
  • Aug 27, 2009 10:10pm Aug 27, 2009 10:10pm
Quoting fed
Hi guys, I will stay away tonight from this trade, I will just watch it though. Because the markets are slow and it is friday and plus I had a great week, I don't want to go to my weekend with a loss.

Have a great weekend all of you.
How do you judge slowness in markets? The real volume hasn't even begun.
Fed, think about consistency, if you're not going to trade Fridays then make that a consistent rule. I say this because I've seen lots of Fridays with excellent moves. What if the market today has a great day? Then next time you make a loss, you'll think wow, I would still be in profit if I entered on Friday and made X amount of pips.

It's not about avoiding going into a weekend with a loss. If you want this system to have successful money management and to work you have to look at the picture years from now. Trust me, if you're using this system next year, you're not going to care about going into that one weekend with a loss. You're not going to care about that one day where you made a loss.

Again, unless you've tested for a year at least, and its a proven fact that this strategy does not work on Friday then you should take the trade. Backtesting with this type of system is 100% accurate because you have constantly levels.
  • #64
  • Aug 27, 2009 10:24pm Aug 27, 2009 10:24pm
Quoting Ace284
How do you judge slowness in markets? The real volume hasn't even begun.
Fed, think about consistency, if you're not going to trade Fridays then make that a consistent rule. I say this because I've seen lots of Fridays with excellent moves. What if the market today has a great day? Then next time you make a loss, you'll think wow, I would still be in profit if I entered on Friday and made X amount of pips.

It's not about avoiding going into a weekend with a loss. If you want this system to have successful money management and to work you have...

hi Ace, thanks for the tips. I agree what you just said. But I usually don't trade on fridays with any strategy I had prev, just my bad experience.
  • #65
  • Aug 27, 2009 10:41pm Aug 27, 2009 10:41pm
Anyone trades on friday's here is the plan tonight. Things look bearish to me tonight as well because of the down trend continues.
Attached Image (click to enlarge)
Click to Enlarge Name: break03.jpg Size: 73 KB
  • #66
  • Aug 27, 2009 10:50pm Aug 27, 2009 10:50pm
I change my mind, I set my 3 pending orders, I completely agree with Ace. I also felt lazy and tired, I will call in sick tomorrow, its tough to work with only 5-6 hours of sleep every day. It looks good tonight to short. look at this beauty, what is there not to short tonight with the breakout?
Attached Image (click to enlarge)
Click to Enlarge Name: break04.jpg Size: 70 KB
  • #67
  • Aug 28, 2009 9:20am Aug 28, 2009 9:20am
no trade, the pending orders didn't trigger, the price never made it to the south side. I am closing my pending orders.
  • #68
  • Edited 10:26am Aug 28, 2009 9:32am | Edited 10:26am
The entry just triggered, if it wasn't a friday I could of entered in because it is still mid NY session. I was expecting the price to drop down but it just happened now.
Attached Image (click to enlarge)
Click to Enlarge Name: break05.jpg Size: 95 KB
  • #69
  • Aug 28, 2009 11:10pm Aug 28, 2009 11:10pm
Quoting wltam
i attached some of the data regarding this system from 2007 to 2009
hope this useful

TimeToStr(orderOpen) :just the date only
highest : highest of the range (the body of the candle)
lowest :lowest of the range(same)
buy_hit : if the buy order triggerred. (1 mean trigger)
max : the max value after trigger and before hit the stoploss or close order at 22:00)
SL_buy : if the buy order hit the SL finally. (1 mean hit)
sell_hit
min
SL_sell
hey thanks
  • #70
  • Aug 28, 2009 11:36pm Aug 28, 2009 11:36pm
Quoting fed
hey thanks
how's ur result for this week?
  • #71
  • Aug 29, 2009 1:32am Aug 29, 2009 1:32am
i used EA to test this method from 2007 to today

it seems diff to reach TP3
Attached Image (click to enlarge)
Click to Enlarge Name: fednew.gif Size: 10 KB
  • #72
  • Aug 29, 2009 3:14pm Aug 29, 2009 3:14pm
Quoting wltam
i used EA to test this method from 2007 to today

it seems diff to reach TP3
did you do it exactly as is? when TP1 hits the other 2 entries will BE, and when TP2 hits you will move the 3rd entry at 50% line.

Was it 2 weeks or the one before I had a great week, I have to go back to my records to be sure... I think it should hit TP3 half of the time....
  • #73
  • Aug 29, 2009 8:20pm Aug 29, 2009 8:20pm
Quoting fed
did you do it exactly as is? when TP1 hits the other 2 entries will BE, and when TP2 hits you will move the 3rd entry at 50% line.

Was it 2 weeks or the one before I had a great week, I have to go back to my records to be sure... I think it should hit TP3 half of the time....
LOL, let verify whether my method exactly~
for Long,
entry price = top of the candle body + 30pips
SL = bottom of the candle body / 80 pips below entry price (the bigger one)
TP1 = entry price + risked pips
TP2 = entry price + 2 * risked pips
TP3 = entry price + 3 * risked pips


When hit TP1, SL move to entry price
When hot TP2, SL move to entry price + 0.5 * risked pips

attached is the EA result and the template which can visualize the result of EA from 01 2007 to today
Attached File(s)
File Type: zip fednew.zip   503 KB | 426 downloads
  • #74
  • Aug 29, 2009 8:35pm Aug 29, 2009 8:35pm
Quoting wltam
LOL, let verify whether my method exactly~
for Long,
entry price = top of the candle body + 30pips
SL = bottom of the candle body / 80 pips below entry price (the bigger one)
TP1 = entry price + risked pips
TP2 = entry price + 2 * risked pips
TP3 = entry price + 3 * risked pips


When hit TP1, SL move to entry price
When hot TP2, SL move to entry price + 0.5 * risked pips

attached is the EA result and the template which can visualize the result of EA from 01 2007 to today
I dunno if its just me but, that's the first time in seen 90% quality and 0 mismatched errors in the same report. Nice job
  • #75
  • Aug 29, 2009 10:16pm Aug 29, 2009 10:16pm
Quoting wltam
LOL, let verify whether my method exactly~
for Long,
entry price = top of the candle body + 30pips
SL = bottom of the candle body / 80 pips below entry price (the bigger one)
TP1 = entry price + risked pips
TP2 = entry price + 2 * risked pips
TP3 = entry price + 3 * risked pips


When hit TP1, SL move to entry price
When hot TP2, SL move to entry price + 0.5 * risked pips

attached is the EA result and the template which can visualize the result of EA from 01 2007 to today

good job. The SL is minimum of 80pips, could be more if the candel is bigger in size though. Did you tested it with only 80pips for SL even the candel was bigger ?
  • #76
  • Aug 29, 2009 10:22pm Aug 29, 2009 10:22pm
Quoting fed
good job. The SL is minimum of 80pips, could be more if the candel is bigger in size though. Did you just made 80pips for SL even the candel was bigger ?
i take candle body if it bigger than 80pips
  • #77
  • Aug 29, 2009 11:13pm Aug 29, 2009 11:13pm
Quoting wltam
i take candle body if it bigger than 80pips
that is great
  • #78
  • Aug 30, 2009 8:12pm Aug 30, 2009 8:12pm
Hi all, while I was getting the screenshot my orders just triggered, happened so fast tonight. We might have a great night. I am favouring short tonight as you can see from screenshot, trend line brock so as rsi....
Attached Image (click to enlarge)
Click to Enlarge Name: break06.jpg Size: 57 KB
  • #79
  • Aug 30, 2009 10:37pm Aug 30, 2009 10:37pm
I just hit my TP1 for 74pips. suppost to be at least 80 pips but miscalculated it by 6 pips tonight, that is ok. So now I made the adjustments to break even for the other 2 entries.
Attached Image (click to enlarge)
Click to Enlarge Name: break07.jpg Size: 42 KB
  • #80
  • Aug 31, 2009 12:17am Aug 31, 2009 12:17am
great work...going to try it out tomorrow if i can get around to a computer in time.
0 traders viewing now