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Attachments: 0400-0700 GMT Breakout Strategy
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0400-0700 GMT Breakout Strategy

  • #1,181
  • Sep 11, 2009 12:38am Sep 11, 2009 12:38am
Quoting BlueBull
I like to refer you to a article I read http://www.tradingacademy.com/lesson...ed_article.htm as well as http://www.tradingacademy.com/lesson...e_samevans.htm
Isn't this what happened?
i really like it thanks very match
  • #1,182
  • Sep 11, 2009 1:29am Sep 11, 2009 1:29am
anyone trade in LONG of GU?
  • #1,183
  • Sep 11, 2009 1:35am Sep 11, 2009 1:35am
Quoting wltam
anyone trade in LONG of GU?
I m long on g/u
  • #1,184
  • Sep 11, 2009 1:39am Sep 11, 2009 1:39am
Quoting wltam
anyone trade in LONG of GU?
Yes, triggered it by one pip.
  • #1,185
  • Sep 11, 2009 1:44am Sep 11, 2009 1:44am
At price did you got in?
"Hands that help are holier than lips that pray" Shirdi Sai Baba
  • #1,186
  • Sep 11, 2009 2:16am Sep 11, 2009 2:16am
Quoting matlobien
Yes, triggered it by one pip.
GJ already short
and hit 1st TP
  • #1,187
  • Sep 11, 2009 3:18am Sep 11, 2009 3:18am
SL for g/u
  • #1,188
  • Sep 11, 2009 3:31am Sep 11, 2009 3:31am
Quoting shaun_ru_th
SL for g/u
yes
so sad
  • #1,189
  • Sep 11, 2009 3:45am Sep 11, 2009 3:45am
Quoting matlobien
We trade 2-5 GMT breakout, not classic breakouts.

This morning we went against trend and then I am usually careful.

GU can become very spiky at times, so for me it is better to protect than to hope.
You are absolutely right. Here is an extract from a e-book by Sacha Tarkovsky "Forex Trading for Profit - trading the odds for bigger profits" " Buying High & Selling Higher
A basic wisdom of trading is “buy low, sell high” - well, the reality is, if you try this in FOREX
trading, you’ll end up losing money.
Why Buy Low and Sell High doesn’t Work
“Buy low, sell high” is accepted wisdom by the majority of traders - but this logic is fundamentally
flawed - use it in FOREX trading, and you’re asking for trouble. Why? - If you wait for a pullback,
you’re going to miss some of the biggest moves.
Think about it - what if a currency starts to trend and doesn’t pullback? (How often have you seen
this?) If you’re waiting for a pullback that never comes, you’ll never get in on the trade – and you’ll
miss a major opportunity and this is EXACTLY what the majority of traders do and that’s why they
lose."
  • #1,190
  • Sep 11, 2009 8:42am Sep 11, 2009 8:42am
Quoting BlueBull
You are absolutely right. Here is an extract from a e-book by Sacha Tarkovsky "Forex Trading for Profit - trading the odds for bigger profits" " Buying High & Selling Higher
A basic wisdom of trading is “buy low, sell high” - well, the reality is, if you try this in FOREX
trading, you’ll end up losing money.
Why Buy Low and Sell High doesn’t Work
“Buy low, sell high” is accepted wisdom by the majority of traders - but this logic is fundamentally
flawed - use it in FOREX trading, and you’re asking for trouble....
That is a very "Turtle" way of trading..........
Same Whore .... Different Dress
  • #1,191
  • Sep 11, 2009 9:19am Sep 11, 2009 9:19am
I have to remind myself everyday to trust this system. Even after a long time of trading I still struggle with emotions. If I had left this system and did not interfere, I would have done better this week.

Today was a very funny PA day. The box was big, but not that big.The rise in gu was early in Asian session and continued in the box. Then long triggered by one pip and then hit sl. After that it never reached the box parameters. IT did the famous gu up and down in one place. One of those days.

See you next week.
  • #1,192
  • Sep 11, 2009 10:04am Sep 11, 2009 10:04am
Quoting matlobien
I have to remind myself everyday to trust this system. Even after a long time of trading I still struggle with emotions. If I had left this system and did not interfere, I would have done better this week.

Today was a very funny PA day. The box was big, but not that big.The rise in gu was early in Asian session and continued in the box. Then long triggered by one pip and then hit sl. After that it never reached the box parameters. IT did the famous gu up and down in one place. One of those days.

See you next week.
yep...when i backtest this system and get an average 90% win rating, then go live this week it and come out with 25% win rating it can be frustrating but I too had too much emotion involved. 1 pip trigger here too i did cut my loss down by 1/2 because my GJ short worked out a bit as well.
Oh well thats why i trade nano lots for now
  • #1,193
  • Sep 11, 2009 10:27am Sep 11, 2009 10:27am
Quoting Weasy2k
yep...when i backtest this system and get an average 90% win rating, then go live this week it and come out with 25% win rating it can be frustrating but I too had too much emotion involved. 1 pip trigger here too i did cut my loss down by 1/2 because my GJ short worked out a bit as well.
Oh well thats why i trade nano lots for now
sadly ...90% is only for this year
  • #1,194
  • Sep 12, 2009 12:07am Sep 12, 2009 12:07am
yes.if u cant overcome with ur emotions in forex.u ll always fail.specially in breakout systems.this system is really stressful.
to profit in this volatile market u need
1.good trading psychology
2.good money management
that s the 2 key things u need to master if u need to get profit in this market..
yehh its easy for me to say but executing is different part.specially with emotions..



  • #1,195
  • Sep 12, 2009 1:40am Sep 12, 2009 1:40am
Quoting wltam
sadly ...90% is only for this year
I still have to backtest way more...but i dont really follow the strategy outlined in the first page of this thread hopfully it stays above 80...i plan to backtest to 06.

I can also eliminate 90% of my losses if i just change my stop to BE moves Will be less pips though just because some winners would be BE as well...
  • #1,196
  • Sep 12, 2009 1:16pm Sep 12, 2009 1:16pm
how are you going to backtest to 06 i'd like to know as i want to backtest myself

thanks



Quoting Weasy2k
I still have to backtest way more...but i dont really follow the strategy outlined in the first page of this thread hopfully it stays above 80...i plan to backtest to 06.

I can also eliminate 90% of my losses if i just change my stop to BE moves Will be less pips though just because some winners would be BE as well...
"The person who knows that enough is enough, will always have enough". .
  • #1,197
  • Sep 12, 2009 2:40pm Sep 12, 2009 2:40pm
Quoting maq
how are you going to backtest to 06 i'd like to know as i want to backtest myself

thanks
in metatrader under the TOOLS menu goto HISTORY CENTER and then goto a pair that you want to test. Highlight the pair then click download.

MT4 will download the data from your broker and then you can simply just scroll over.
  • #1,198
  • Sep 13, 2009 9:18am Sep 13, 2009 9:18am
thanks weasy

is their any other way because mt4 data slighty differs from spreadbetting firms



Quoting Weasy2k
in metatrader under the TOOLS menu goto HISTORY CENTER and then goto a pair that you want to test. Highlight the pair then click download.

MT4 will download the data from your broker and then you can simply just scroll over.
"The person who knows that enough is enough, will always have enough". .
  • #1,199
  • Sep 13, 2009 9:36am Sep 13, 2009 9:36am
Quoting wltam
sadly ...90% is only for this year
I am busy testing the following.
1. Adapt your profit taking strategy in order to stay in longer when u have big move days. (Maybe splitting order in 3 the 1st 2 orders take profit at tp1, and tp2 as per rules, move the sl on the 3rd part to BE and let it ride, until either it is stopped out or maybe the end of the week?
2. Stay out of the market after big move days.
  • #1,200
  • Sep 13, 2009 12:08pm Sep 13, 2009 12:08pm
I use point 1 already and i agree about big moves are usually followed with consolidation..
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