0400-0700 GMT Breakout Strategy | Page 64 | 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

  • #1,261
  • Sep 22, 2009 6:51am Sep 22, 2009 6:51am
Hi guys,

Spent a fair while searching this thread and couldn't find anywhere that mentions expiry time of the trades if they don't qualify?
  • #1,262
  • Edited 9:36am Sep 22, 2009 9:20am | Edited 9:36am
I have a 3 Hour Expiry...99% of my trades are triggered less than 1 hour in though.

The reason for my expiry is that i don't trust a market that continues to range even after 2 major market opens (Frankfurt and London).
  • #1,263
  • Sep 22, 2009 9:46am Sep 22, 2009 9:46am
hi Dubai,

my box is from 3-5 am gmt and like weasy says if a trade hasnt opened by 30 mins into London session (0730 GMT, 0830 UK time) then i pull the orders..

hope this helps

grant
  • #1,264
  • Sep 22, 2009 11:19am Sep 22, 2009 11:19am
Quoting Epsilo
I've attached a pdf file that have from other forums.
It will explain why 2 - 5 gmt gives better results ( in my opinion always) vs pips.
All is about propabilities ,right?

Cheers
John
Hi John,

Thank you for this report, it makes some interesting reading and another outlook on the forex market.

Hopefully, it will be read by all those who still need to ask what is there time zone?

Cheers & Happy Pipping

Darryl
  • #1,265
  • Sep 22, 2009 10:18pm Sep 22, 2009 10:18pm
Today ,,,

I think GU will go down
Yesterday ,,,, Today ,,,, and Forever
  • #1,266
  • Sep 22, 2009 10:27pm Sep 22, 2009 10:27pm
Quoting Weasy2k
I have a 3 Hour Expiry...99% of my trades are triggered less than 1 hour in though.

The reason for my expiry is that i don't trust a market that continues to range even after 2 major market opens (Frankfurt and London).

Thanks, I'm going to make a s/sheet with various finishing times and see how it gets on.
  • #1,267
  • Sep 22, 2009 11:11pm Sep 22, 2009 11:11pm
Morning all,
GBPJPY is so messy starting from September. I traded it and at the moment i am - 240pips total. I think I will try my best with GBPUSD these days.
The Road appears under the steps of walking men...
  • #1,268
  • Sep 22, 2009 11:16pm Sep 22, 2009 11:16pm
For all ppl

Which is better time


4 – 7 , 2 – 5 , 3 – 5 GMT
Yesterday ,,,, Today ,,,, and Forever
  • #1,269
  • Sep 22, 2009 11:28pm Sep 22, 2009 11:28pm
Quoting The1
For all ppl

Which is better time


4 – 7 , 2 – 5 , 3 – 5 GMT

From simply looking back through Sept, I'd have to say 2-5 is a fair bit better off than 4-7. I'm going to compile a s/sheet with 2-5 and 4-7 results since Jan 09. It'll take a while but research is golden.
  • #1,270
  • Sep 23, 2009 1:50am Sep 23, 2009 1:50am
Quoting grant18265
hi Dubai,

my box is from 3-5 am gmt and like weasy says if a trade hasnt opened by 30 mins into London session (0730 GMT, 0830 UK time) then i pull the orders..

hope this helps

grant

If any one use 3 – 5 GMT , he will hit first TP 30 pips ( SELL )
And
Who use 2 – 5 GMT , he loss
Yesterday ,,,, Today ,,,, and Forever
  • #1,271
  • Sep 23, 2009 1:53am Sep 23, 2009 1:53am
Quoting The1
If any one use 3 – 5 GMT , he will hit first TP 30 pips ( SELL )
And
Who use 2 – 5 GMT , he loss
if you take a look at the history, wenesday is often a loosing day, i had stop trading this day with breakout
  • #1,272
  • Sep 23, 2009 2:12am Sep 23, 2009 2:12am
Quoting gregart
if you take a look at the history, wenesday is often a loosing day, i had stop trading this day with breakout

Whilst i'm always looking for ways to cut losses, cutting out a mid week day seems illogical and improbable.

Do you have any stats?

I'd understand if Friday was the worst performer but can see no reason for Wed.
  • #1,273
  • Sep 23, 2009 2:19am Sep 23, 2009 2:19am
Quoting DubaiTrader
Whilst i'm always looking for ways to cut losses, cutting out a mid week day seems illogical and improbable.

Do you have any stats?

I'd understand if Friday was the worst performer but can see no reason for Wed.
yep, for statistical you can use the last EA modified with external settings for choose trading days, you will see than only monday have the bigger probablity of win
  • #1,274
  • Sep 23, 2009 5:58am Sep 23, 2009 5:58am
Quoting Epsilo
I've attached a pdf file that have from other forums.
It will explain why 2 - 5 gmt gives better results ( in my opinion always) vs pips.

Hey I just read that pdf and it makes a lot of sense, I've just looked back over days and I was wondering if you trade that strategy? and If you do, how to you determine what your stoploss will be? because there wasn't a losing trade demonstrated.

Cheers
  • #1,275
  • Sep 24, 2009 12:42am Sep 24, 2009 12:42am
Wow what a day....GU has been great to me this week!

Today i triggered long (VERY RELUCTANTLY!) but TP1 hit for me and +5 SL for both TP2 and TP3. So my long trade was up a total 40 points. Then i decided to keep my short orders open as i believed the market was going to drop ($ strength) shortly after my long stopped out my Shorts triggered hitting my TP1 and TP2 quickly with TP3 still waiting at S2 for the day a little greedy on TP3 but the stop is at +20 so im not worried at all

As for the people asking what times are the best....backtest backtest backtest...i did some testing with a couple time frames and 2-5 worked very well for MY style at least...i dont go for large gains and im quick to move my orders to BE. I saw someone post that if you traded 2-5 the other day on GU it was a loss...well i didnt have a loss...remember people sometimes its best to modify a great strategy to work with your trade style
  • #1,276
  • Sep 24, 2009 12:54am Sep 24, 2009 12:54am
Exactly right Weasy,

every body should do their own testing, i wouldnt rely on someone elses findings if i'm risking my cash...

got my +20 and +50 for today short, didnt take the long 90 ema was above the box...

many pips to all

Grant
  • #1,277
  • Sep 24, 2009 1:37am Sep 24, 2009 1:37am
Quoting Weasy2k
I saw someone post that if you traded 2-5 the other day on GU it was a loss...well i didnt have a loss...remember people sometimes its best to modify a great strategy to work with your trade style
I think you referring about my comment about wenesday's trade, i can answer to you with your own words: backtests, backtests, backtests

i work on this strategy since 5 weeks and made lot of test since 2002, but you're right, it depend of your work style !

cheers
  • #1,278
  • Sep 24, 2009 10:03am Sep 24, 2009 10:03am
what is your strategy with this method please explain

working with how fed does it 3-5 gmt tp1 @ 30 then b/e tp2 @70
aug small profit
sep small loss


Quoting gregart
I think you referring about my comment about wenesday's trade, i can answer to you with your own words: backtests, backtests, backtests

i work on this strategy since 5 weeks and made lot of test since 2002, but you're right, it depend of your work style !

cheers
"The person who knows that enough is enough, will always have enough". .
  • #1,279
  • Sep 24, 2009 10:09am Sep 24, 2009 10:09am
look forward to this


Quoting DubaiTrader
From simply looking back through Sept, I'd have to say 2-5 is a fair bit better off than 4-7. I'm going to compile a s/sheet with 2-5 and 4-7 results since Jan 09. It'll take a while but research is golden.
"The person who knows that enough is enough, will always have enough". .
  • #1,280
  • Sep 24, 2009 10:18am Sep 24, 2009 10:18am
may i know what EA are u guys using? i am using the EA breakout trend mod2 but it didnt open any positions today, what happen?
0 traders viewing now