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0400-0700 GMT Breakout Strategy

  • #1,321
  • Oct 10, 2009 3:35pm Oct 10, 2009 3:35pm
Quoting dl4hao
sorry, as my broker is working in GMT time-zone, I do not know, what your settings have to be ...

maybe it will help you, when you see the candle-formations to check, if you have figured out the correct time-shift for you (see screenshot)
Hi Dietmar,

Thank you very much for your prompt replies!

As suggested, I compared your chart with mine. Everything matches though you said your broker is working in GMT time-zone and my broker FXDD's clock is GMT+3. Just for curiosity, who is your broker, please?

Do you use any indicator or a particular template on your chart with this strategy?

Michael
  • #1,322
  • Oct 10, 2009 4:00pm Oct 10, 2009 4:00pm
Signing up.

Lenoxer
  • #1,323
  • Oct 10, 2009 4:35pm Oct 10, 2009 4:35pm
Quoting g_trader
- Trade using 3 time frames.
Using the one day chart with 5 ema and 20 ema indicators give clues as to the direction of the price action especially if the previous days bar has tested the highs (in which case go short) or tested the lows (in which case go long)

Then use the hour chart to establish price entry and SL either ends of the 5 am bar only rather than go back 4 hours. (can also look at general trends too!).


Another thing i have noticed with cable is from about 6am to 9 or 10 am the price action will go in one direction. and...
What time-zone are you referring to, please?
  • #1,324
  • Oct 10, 2009 5:00pm Oct 10, 2009 5:00pm
Quoting gregart
Hi, i have backetsted the breakout for monday since january 2008 and it seems good, but I think we have to optimise for short near period, i will do that after.

I think, it can be interesting to have the lot size based on the account and can increase in the same time than account, can you make some modifictaion wltam ?

Soondoock, ok for GY, i will test after GU

thanks,

Greg
Do you have any update on backtests, please?
  • #1,325
  • Oct 11, 2009 8:11am Oct 11, 2009 8:11am
Quoting michaelhryu
Hi Dietmar,

Thank you very much for your prompt replies!

As suggested, I compared your chart with mine. Everything matches though you said your broker is working in GMT time-zone and my broker FXDD's clock is GMT+3. Just for curiosity, who is your broker, please?

Do you use any indicator or a particular template on your chart with this strategy?

Michael
Hy Michael,

I have 2 accounts by different broker:

- Masterforex (GMT time-zone)
- TadawulFX (GMT minus 1 time-zone)

so the settings are here for my asia-breakout-EA:

Masterforex: pending-order set at 01:45 and range between 00:45-01:45 (previous 4 candels)

TadawulFX: pending-order set at 00:45 and range between 23:45-00:45 (previous 4 candels)

for trading I use for the asia-breakout only that fine EA, for analysing I use that indikator:

http://www.forexfactory.com/showpost...&postcount=533

may all of you have a pipful week

, DL4HAO (Dietmar)
  • #1,326
  • Oct 13, 2009 9:46pm Oct 13, 2009 9:46pm
it seems so quiet these days...
how's everyone?
  • #1,327
  • Oct 14, 2009 12:17am Oct 14, 2009 12:17am
Quoting wltam
it seems so quiet these days...
how's everyone?
Hi there,
Well strategy is very good, and I follow the rules trading with EA I started traded this strategy live since 1st September and at the moment around 500 positive pips. Traded both gbpjpy and gbpusd but gbpjpy is bad these days and fits better for scalping so I stay with gbpusd at the moment. And what results do you have wltam?
The Road appears under the steps of walking men...
  • #1,328
  • Oct 14, 2009 1:05am Oct 14, 2009 1:05am
Quoting wltam
it seems so quiet these days...
how's everyone?
Still going strong.

  • #1,329
  • Oct 14, 2009 10:15pm Oct 14, 2009 10:15pm
Quoting Soondoock
Hi there,
Well strategy is very good, and I follow the rules trading with EA I started traded this strategy live since 1st September and at the moment around 500 positive pips. Traded both gbpjpy and gbpusd but gbpjpy is bad these days and fits better for scalping so I stay with gbpusd at the moment. And what results do you have wltam?
sep is negative for me....
i use TP1 as 30 and TP2 as 70pips
  • #1,330
  • Oct 15, 2009 3:21am Oct 15, 2009 3:21am
it seems that ..
other than Monday....
Thursday always have good result...
and it can hv higher TP level
  • #1,331
  • Oct 16, 2009 12:42am Oct 16, 2009 12:42am
I will be careful trading this strategy this morning.

Box size almost 100 pips and it retraced almost to the bottom which is against main trend.

But who knows with forex.

  • #1,332
  • Oct 16, 2009 1:54am Oct 16, 2009 1:54am
Quoting matlobien
I will be careful trading this strategy this morning.

Box size almost 100 pips and it retraced almost to the bottom which is against main trend.

But who knows with forex.

When price broke 1.6324 it became a typical PA trade and it went down for our TP.

Have a great weekend.

  • #1,333
  • Oct 17, 2009 1:27am Oct 17, 2009 1:27am
Hi, sorry for be late, i follow trading on monday only with GU tp1: 31 pips, tp2: 75 pips, but referring to wltam reflexion i will take a look at thursday's, didn't found something in my previous backtests

Quoting michaelhryu
Do you have any update on backtests, please?
  • #1,334
  • Oct 17, 2009 2:17am Oct 17, 2009 2:17am
Quoting gregart
Hi, sorry for be late, i follow trading on monday only with GU tp1: 31 pips, tp2: 75 pips, but referring to wltam reflexion i will take a look at thursday's, didn't found something in my previous backtests
In fact, I did backtest using your settings posted at #1240 on September 17. Trading on Monday, Thursday, and Friday produced good results. Do you have any reason to change TP1 and TP2 to 31 & 75 from 75 & 120, respectively?
  • #1,335
  • Oct 17, 2009 10:21am Oct 17, 2009 10:21am
Quoting michaelhryu
In fact, I did backtest using your settings posted at #1240 on September 17. Trading on Monday, Thursday, and Friday produced good results. Do you have any reason to change TP1 and TP2 to 31 & 75 from 75 & 120, respectively?
yep i used optimisation on recent period and find this settings, when you talk about good results for other than monday did you backtest on 2008 year ?
  • #1,336
  • Oct 18, 2009 2:13am Oct 18, 2009 2:13am
Quoting gregart
yep i used optimisation on recent period and find this settings, when you talk about good results for other than monday did you backtest on 2008 year ?
No, I did not. I backetested from March 8, the date when FXDD (GMT+3 currently) started DST.

I'd very much like to hear about your updated optimisation results, please.
  • #1,337
  • Oct 18, 2009 6:38am Oct 18, 2009 6:38am
Quoting michaelhryu
No, I did not. I backetested from March 8, the date when FXDD (GMT+3 currently) started DST.

I'd very much like to hear about your updated optimisation results, please.
first, i made some new backtests on thursdays and fridays with different settings, i never find an good DD/profit ratio like mondays, that's my personnal idea, every body can do as he want, but i prefer increase lot size on monday than trade on thursdays and fridays, but maybe it's possible to find some different settings for each days.

for my optimisations, i agree than the setting tp1: 90 and tp2: 120 are good, but i saw than since fews weeks first tp must smaller, and i prefer have small tp and small sl, with an good ratio winning/loosing day like monday, my stop is at 30 pips

you'll find there results from january 05th to this week with same settings:

mondays
thursdays
fridays
Attached Image(s) (click to enlarge)
Click to Enlarge Name: BO_mondays.gif Size: 16 KB
Click to Enlarge Name: BO_thursdays.gif Size: 16 KB
Click to Enlarge Name: BO_fridays.gif Size: 16 KB
  • #1,338
  • Oct 18, 2009 1:10pm Oct 18, 2009 1:10pm
Quoting gregart
first, i made some new backtests on thursdays and fridays with different settings, i never find an good DD/profit ratio like mondays, that's my personnal idea, every body can do as he want, but i prefer increase lot size on monday than trade on thursdays and fridays, but maybe it's possible to find some different settings for each days.

for my optimisations, i agree than the setting tp1: 90 and tp2: 120 are good, but i saw than since fews weeks first tp must smaller, and i prefer have small tp and small sl, with an good ratio winning/loosing day...
So your current settings are TP1: 31 pips & TP2: 75 pips with SL: 30? Do you keep other parameters the same as your earlier settings?

Thanks a lot for sharing your ideas! I will play with them next week with much enthusiasm.
  • #1,339
  • Oct 18, 2009 1:41pm Oct 18, 2009 1:41pm
yep, other parameters still sames
  • #1,340
  • Edited 2:12pm Oct 18, 2009 2:00pm | Edited 2:12pm
Hello guys,

This is my first post on this thread, much respect to all,

Just my thought,

before I knew this thread I was doing (I am still doing) the BO of the last hour before Frankfurt open but only in the reverse since Sidney/Tokyo open and if not triggered I take the hour before the NY open this only on wednesday/thursday/friday with 80% of the daily average as profit target.

If it happens on wednesday I forget the other days, if it doesn't happen I'll wait for thursday, if it doens't happen I'll wait for friday, this on usd pair.

I hope I made myself clear enough as english is not my native language.

Regards,
Billyjoe
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