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7am-9am Big Dog USD Breakout Strategy

  • #1,601
  • Sep 1, 2009 12:52am Sep 1, 2009 12:52am
what pair? it was fine on GU and EU (my friend went long on that)
  • #1,602
  • Sep 1, 2009 7:36am Sep 1, 2009 7:36am
Hi All,

Need some guide on the Fibonacchi retracements levels that was used for your system. I had it once before but my hard disk died on me. So please those kind soul out there guide me through ya. Many thanks. Need it urgently cuz i need it for this week high volatility trades. Many thanks ya
  • #1,603
  • Sep 2, 2009 12:10am Sep 2, 2009 12:10am
Quoting Ronald Raygun
London holiday mixed with Japanese election.

You practically stepped on a hornet's nest.
Youch. It hurt, alright. Wiped out by 12%!

I'm thinking setting SL on the other side of the box is not a good idea.....but then again I've rarely ever seen it hit. Which was why I was shocked on Monday night.

Last night again, there was a false break to the north (if you were aiming for 10-15 you were fine), followed by the main southern drive begining around 10am NY time.

It's a little unnerving to have 2 of these nights in a row...

Chngster
Thank you Crucial Point, Bleek, Trizzle, Darkstar
  • #1,604
  • Sep 2, 2009 12:29am Sep 2, 2009 12:29am
Quoting chngster
Did anyone use this strategy last night?

I did, with disaster happening! Stopped out on the other side of the box on 6-7 currencies.

Is this just a Monday issue? Or is it due to the London public holiday?

Chngster



I used it on Tuesday night AEST 9pm to 11pm on GBPUSD, and got triggered both sides and lost,
  • #1,605
  • Sep 2, 2009 12:32am Sep 2, 2009 12:32am
Quoting chngster
It's a little unnerving to have 2 of these nights in a row...

Chngster


do we add buffer to the box?
  • #1,606
  • Sep 2, 2009 2:54am Sep 2, 2009 2:54am
Please see this post http://www.forexfactory.com/showpost...postcount=1582 I altered the NewYorkBox.mq4 to use a 300 pip (30 pip) SL which works very well, you can change it as you see fit. I made this modification because you are WAY over exposed if the box is 1000 pips (100 pips) + and you set your stop there. Silly if you ask me but then I am a new trader :-)
  • #1,607
  • Sep 2, 2009 3:00am Sep 2, 2009 3:00am
1st September trades using this strategy. One wasn't filled as I didn't have enough cash to cover the open positions but would have been a winner and the other non filler I set to expire.
Attached Image (click to enlarge)
Click to Enlarge Name: trades 010909a.JPG Size: 58 KB
  • #1,608
  • Sep 2, 2009 3:32am Sep 2, 2009 3:32am
ForexMason are these results live or demo
  • #1,609
  • Sep 2, 2009 4:39am Sep 2, 2009 4:39am
Quoting ForexMason
1st September trades using this strategy. One wasn't filled as I didn't have enough cash to cover the open positions but would have been a winner and the other non filler I set to expire.
I have just started playing around with this strategy. Good to see that it is making money for others. I am a bit of a newbie here so forgive me if this is a stupid question. I am just looking at the time stamps on your gbpusd trades and trying to figure out when you are using this system. I sold gbpusd yesterday on a false break just after 9am NY time only to see it rally almost 100 pips in a straight line before crashing off later. I thought the rationale for it was to see what range is established in the morning session then trade the break of that range. Your trades seem to be a lot earlier than that so I am just trying to figure out when others are drawing their box and trading the breaks?
  • #1,610
  • Edited 8:21am Sep 2, 2009 8:02am | Edited 8:21am
Hi John225,

Unfortunately they are demo........still honing my skills

Scotsman,

The two time frames I trade are;

02:00 - 04:00 GMT (03:00 - 05:00 GMT on my platform as you can see by the timestamps)
12:00 - 14:00 GMT (13:00 - 15:00 GMT on my platform)

I'm located in London so the above times are correct for me here. Wherever you are you will need to work out the times AND possibly add/subtract time from your platform time.

You can check world timings here:- http://www.worldtimezone.com/
Or download a gadget here:- http://desktop.google.com/plugins/i/...ock.html?hl=en
  • #1,611
  • Sep 2, 2009 8:03am Sep 2, 2009 8:03am
Quoting crt4x
Has anyone done an EA based on the New York Box indicator that has been posted in this thread? That would be an awesome EA?
I posted a fully functioning EA about 2 posts before yours

http://www.forexfactory.com/showpost...postcount=1594

I would be interested in hearing if anyone has used it yet actually.
  • #1,612
  • Sep 2, 2009 8:32am Sep 2, 2009 8:32am
Loss for the short side.......Am I doing anything wrong?


GBPUSD 15min
http://img299.imageshack.us/img299/7519/qqqqf.png
  • #1,613
  • Edited 10:14am Sep 2, 2009 10:00am | Edited 10:14am
Quoting s050399b
Loss for the short side.......Am I doing anything wrong?


GBPUSD 15min
Just my humble opinion, but I don't think 15p is enough SL on any major, particularly on this strategy. But, I'm not a scalper either.
  • #1,614
  • Sep 2, 2009 10:09am Sep 2, 2009 10:09am
Your stop should have been the high of the previous bar......
Same Whore .... Different Dress
  • #1,615
  • Sep 2, 2009 11:46am Sep 2, 2009 11:46am
Scotsman,

The two time frames I trade are;

02:00 - 04:00 GMT (03:00 - 05:00 GMT on my platform as you can see by the timestamps)
12:00 - 14:00 GMT (13:00 - 15:00 GMT on my platform)

I'm located in London so the above times are correct for me here. Wherever you are you will need to work out the times AND possibly add/subtract time from your platform time.






Much appreciated. I am also in London but I will check the platform times.

Cheers.
  • #1,616
  • Sep 2, 2009 1:18pm Sep 2, 2009 1:18pm
I didn't place any demo trades today as I couldn't be bothered to get up at 4am in the morning (as I have been for the last 2 weeks) and was busy at work.

I did however manage to place one real money trade at 14:15 to buy GBP/USD and came away with 15 pips profit whilst I was in a meeting.

Sweet!
  • #1,617
  • Sep 2, 2009 4:36pm Sep 2, 2009 4:36pm
also lost on the long one

http://img529.imageshack.us/img529/1275/qqqqz.png



was using SL=15 as CTguys said 15 pips SL in the middle of the thread.....
  • #1,618
  • Sep 2, 2009 5:06pm Sep 2, 2009 5:06pm
ForexMason what was your starting balance?
  • #1,619
  • Sep 3, 2009 2:44am Sep 3, 2009 2:44am
John225,

It was 10k, I managed to whittle it down to 3k before sticking religiously to the strategy. I have now got my balance to nearly 18k. 13k of that since the 27th August so one week today.

Demo account unfortunately but it shows it can be done, and ONLY using this strategy. I have started trading for real with it now, only small amounts but it is proving more complicated because the prices quoted through my platform are different AND they operate in tenths of points (16255.4 instead of 1.62554). I use MetaTrader for charts and IG Index for placing the trades. Ill probably get an account that uses MetaTrader at some point soon.

Sticking with it though :-)

2 winners on demo this morning and one real money trade win. All 15 pips :-)
  • #1,620
  • Sep 3, 2009 6:07am Sep 3, 2009 6:07am
Quoting ForexMason
John225,

It was 10k, I managed to whittle it down to 3k before sticking religiously to the strategy. I have now got my balance to nearly 18k. 13k of that since the 27th August so one week today.

Demo account unfortunately but it shows it can be done, and ONLY using this strategy. I have started trading for real with it now, only small amounts but it is proving more complicated because the prices quoted through my platform are different AND they operate in tenths of points (16255.4 instead of 1.62554). I use MetaTrader for charts and...
Blimey: if your account is fluctuating that much... you may well run into problems :o
Probability Professor
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