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

  • #1,361
  • Oct 22, 2009 12:40am Oct 22, 2009 12:40am
Quoting antonioforex
Instead of using a box, why not draw trendlines?

I tried using trendlines for the last 2 days and have made 60 pips....
I've been trying the same sort of thing lately.

Just need to get all the loose ends tied up.

  • #1,362
  • Oct 22, 2009 2:53am Oct 22, 2009 2:53am
Just closed my position for 34 pips.

http://img43.imageshack.us/img43/7530/gbpusd34pips.jpg

5M chart

http://img197.imageshack.us/img197/9419/gbpusd5m.jpg
{Promotion Removed}
  • #1,363
  • Oct 22, 2009 2:57am Oct 22, 2009 2:57am
Quoting antonioforex
Just closed my position for 34 pips.

http://img43.imageshack.us/img43/7530/gbpusd34pips.jpg
Great stuff.
  • #1,364
  • Oct 22, 2009 4:11am Oct 22, 2009 4:11am
Quoting michaelhryu
For Monday and Thursday: TP1 30, TP2 70, and 110, with SL of 50-pips
For Tuesday, Wednesday and Friday: TP1 20 and TP2 50, with SL of 30-pips

And do you keep other settings at default, please?
yes...
but the TP3 control need to be changed
  • #1,365
  • Oct 22, 2009 4:42am Oct 22, 2009 4:42am
do you use a buffer zone?


[quote=michaelhryu;3166935]
For Monday and Thursday: TP1 30, TP2 70, and 110, with SL of 50-pips
For Tuesday, Wednesday and Friday: TP1 20 and TP2 50, with SL of 30-pips quote]
"The person who knows that enough is enough, will always have enough". .
  • #1,366
  • Oct 23, 2009 12:29am Oct 23, 2009 12:29am
[quote=maq;3168190]do you use a buffer zone?


Quoting michaelhryu
For Monday and Thursday: TP1 30, TP2 70, and 110, with SL of 50-pips
For Tuesday, Wednesday and Friday: TP1 20 and TP2 50, with SL of 30-pips quote]
i use 7pips

today i only set BUY order~

does anyone skip friday?
  • #1,367
  • Oct 23, 2009 2:49am Oct 23, 2009 2:49am
Closed for 24 pips.

http://img38.imageshack.us/img38/9343/gbpusd24pips.jpg
{Promotion Removed}
  • #1,368
  • Oct 23, 2009 3:04am Oct 23, 2009 3:04am
Quoting antonioforex
Closed for 24 pips.

http://img38.imageshack.us/img38/9343/gbpusd24pips.jpg
Very nice.

It surely was a very good week for you.

Enjoy the weekend.

  • #1,369
  • Oct 23, 2009 9:57am Oct 23, 2009 9:57am
Hi,

Do you use the time to draw trendlines? Im not sure how you do it could you kindly explain? Really trying to get to grips with with trendline drawing. Where do you draw from the 02:00 bar? or the high within the time frame?

Oz
  • #1,370
  • Oct 23, 2009 11:12am Oct 23, 2009 11:12am
I use the EST so I connect the previous day's high with today's high and same goes for the lows. But basically what you need to do is connect highs and lows of the 3 candles right before London opens with the previous days highs and lows.

Here is the picture. I marked the 3 candles right before London opens (See how the tops and bottoms of those 3 candles are connected with previous days tops and bottoms). The big green candle is the breakout candle, that's what happened shortly after London opened.

I am done for the week with 100+ pips.

http://img194.imageshack.us/img194/5...dbreakouty.jpg



Quoting ozzieb88
Hi,

Do you use the time to draw trendlines? Im not sure how you do it could you kindly explain? Really trying to get to grips with with trendline drawing. Where do you draw from the 02:00 bar? or the high within the time frame?

Oz
{Promotion Removed}
  • #1,371
  • Oct 24, 2009 12:44am Oct 24, 2009 12:44am
[quote=wltam;3170561]
Quoting maq
do you use a buffer zone?

i use 7pips

today i only set BUY order~

does anyone skip friday?
Hello Wltam, I do not skip Friday, but I also did not change any TP SL have TP1 30 TP2 60 and sl 45. At the moment I also use 4-7 breakout. And the results are +520 pips since September 1st.
The Road appears under the steps of walking men...
  • #1,372
  • Oct 24, 2009 6:22am Oct 24, 2009 6:22am
[quote=Soondoock;3172917]
Quoting wltam

Hello Wltam, I do not skip Friday, but I also did not change any TP SL have TP1 30 TP2 60 and sl 45. At the moment I also use 4-7 breakout. And the results are +520 pips since September 1st.
4-7 GMT?
  • #1,373
  • Oct 24, 2009 12:24pm Oct 24, 2009 12:24pm
for those that use 4-7 gmt

you must have backtested before starting out can someone put up their finding please

how long backtested and results ect
"The person who knows that enough is enough, will always have enough". .
  • #1,374
  • Oct 24, 2009 1:20pm Oct 24, 2009 1:20pm
Maq,

would you really trust the results of someone elses backtest and then put your own cash on the line????? i know i couldnt.

you should really do your own testing just for peace of mind surely.

cheers

Grant
  • #1,375
  • Oct 24, 2009 8:10pm Oct 24, 2009 8:10pm
grant for an idea to see if i missed something but before putting real money to it i would backtest it myself first

back in june/july i really liked this breakout 4-7 gmt as the results seem to be good and this thread then started, then it hit a bad run and a chap called fed came along and stated that he found 2-5 gmt had the best breakout performance may june july results were very good sep loss and looks like oct loss also

then i was also testing ace's 4hour breakout in backtest and then forward test results were superb started trading real money in aug and again good month then came sep very bad ( account blown away )oct not so good

well the bottom line is did i miss something with this breakout


Quoting grant18265
Maq,

would you really trust the results of someone elses backtest and then put your own cash on the line????? i know i couldnt.

you should really do your own testing just for peace of mind surely.

cheers

Grant
"The person who knows that enough is enough, will always have enough". .
  • #1,376
  • Oct 25, 2009 7:22am Oct 25, 2009 7:22am
Hello guys!
Excuse me, but when
put your buy or sell stop?
At 7.00 GMT or 8 GMT?
  • #1,377
  • Oct 25, 2009 12:47pm Oct 25, 2009 12:47pm
Hey,

Thanks for the explanation!!

Oz
  • #1,378
  • Oct 25, 2009 1:10pm Oct 25, 2009 1:10pm
[quote=wltam;3173046]
Quoting Soondoock

4-7 GMT?
yes, but now I am not sure because of summer time and winter time.
The Road appears under the steps of walking men...
  • #1,379
  • Oct 25, 2009 7:48pm Oct 25, 2009 7:48pm
Hello..

A little confused here.. For the 4-7 GMT breakout what is the time is EST? Is is GMT - 5 so that we set box at 2 AM est? Since we have not adjust for DST here in North America am I am little lost!

Thank You!
  • #1,380
  • Oct 26, 2009 2:59am Oct 26, 2009 2:59am
Quoting tommycz
Hello..

A little confused here.. For the 4-7 GMT breakout what is the time is EST? Is is GMT - 5 so that we set box at 2 AM est? Since we have not adjust for DST here in North America am I am little lost!

Thank You!
me too. to make it clear I have box 5-8 using alpariukbroker.
The Road appears under the steps of walking men...
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