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0400-0700 GMT Breakout Strategy

  • #1,381
  • Oct 26, 2009 3:04am Oct 26, 2009 3:04am
Quoting Soondoock
me too. to make it clear I have box 5-8 using alpariukbroker.

Ok I am using Alpari UK as well. Tonight unfortunately I have reached my SL of 35...
  • #1,382
  • Oct 26, 2009 10:16am Oct 26, 2009 10:16am
Quoting tommycz
Ok I am using Alpari UK as well. Tonight unfortunately I have reached my SL of 35...
How can it be possible? No trades today. Today I had 2 pending sell orders.
And price never reached that lvl.
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The Road appears under the steps of walking men...
  • #1,383
  • Oct 26, 2009 2:11pm Oct 26, 2009 2:11pm
Yep, same for me, no trade today ! only sell pending orders
  • #1,384
  • Oct 26, 2009 5:11pm Oct 26, 2009 5:11pm
My long entry was at 1.6321. then it came back into the box range where I got stopped out at 35 pips (my MM)
  • #1,385
  • Oct 26, 2009 5:53pm Oct 26, 2009 5:53pm
folks, one question - are such break out systems profitable over the long term (months/years? )

thks
  • #1,386
  • Oct 27, 2009 12:45am Oct 27, 2009 12:45am
i hv one question...
i am confusing in the Winter time.....
i dunno whether i need to adjust too!!!!!!!

Thank.
  • #1,387
  • Edited 2:03am Oct 27, 2009 1:40am | Edited 2:03am
Quoting wltam
i hv one question...
i am confusing in the Winter time.....
i dunno whether i need to adjust too!!!!!!!

Thank.
I think not. Because we all use terminals of different brokers but the time in the terminals does not change. I wish I could find some source where I can watch live when London session starts. This will be helpful.
It is winter time at the moment. So London session starts at 8.00amGMT. I live in Ukraine and my time is GMT+2. This means that I should place my orders 45 mins before London session starts - 9.15my local time. Alpari uses terminals with time GMT+1. So to place order in my EA should be time 8.15.

Also check this first post http://www.forexfactory.com/showpost...36&postcount=1
The Road appears under the steps of walking men...
  • #1,388
  • Oct 27, 2009 2:04am Oct 27, 2009 2:04am
Quoting Soondoock
I think not. Because we all use terminals of different brokers but the time in the terminals does not change. I wish I could find some source where I can watch live when London session starts. This will be helpful.
It is winter time at the moment. So London session starts at 8.00amGMT. I live in Ukraine and my time is GMT+2. This means that I should place my orders 45 mins before London session starts - 9.15my local time. Alpari uses terminals with time GMT+1. So to place order in my EA should be time 8.15.


thank you....

but can u post ur chart for my reference???

anyway.....i hv a SL on GJ of sell order!
and long order ......of GU and GJ already trigger now
  • #1,389
  • Oct 27, 2009 2:20am Oct 27, 2009 2:20am
my orders for today using 4-7gmt strategy
Attached Image (click to enlarge)
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The Road appears under the steps of walking men...
  • #1,390
  • Oct 27, 2009 2:35am Oct 27, 2009 2:35am
Quoting Soondoock
my orders for today using 4-7gmt strategy
Attachment
thank you

it's different from my chart already......i use FxPro.....

i hv no that winter time concept...as i am in HK....
  • #1,391
  • Oct 27, 2009 4:18am Oct 27, 2009 4:18am
Very strange PA on GU this morning.

Very long spikes up + down.

  • #1,392
  • Oct 27, 2009 4:25am Oct 27, 2009 4:25am
This trading strategy continues to work well for both London and US breakout sessions. The Quantum research paper attached somewhere in this thread has certainly provided great statistics as to why this strategy should continue to do well. Great job everyone.

fxpilot
  • #1,393
  • Oct 27, 2009 6:53am Oct 27, 2009 6:53am
Quoting fxpilot
This trading strategy continues to work well for both London and US breakout sessions. The Quantum research paper attached somewhere in this thread has certainly provided great statistics as to why this strategy should continue to do well. Great job everyone.

fxpilot
Hi guys - I am knew to this site (this is my first post).

I have read through this whole thread and there's now so many different variations. I have been trading this system using the 5am to 7.15 candle, so this means i don't take a trade till after 7.30 (hope that makes sense). I use the 15 min charts for this and take the range between these candles for my stop, however i never exceed 40 pips, so if the range happens to be say 64 or whatever, i still only set it at 40. I have a profit limit of 30 and that's it. For Oct i have had 14 wins and 5 losses, so total pips for the month so far is 220pips for a hours work a day.

I have also back tested this manually and get the following results:

Sept 08 – 17 wins / 5 losses
Oct 08 – 16 wins / 6 losses
Nov 08 – 16 wins / 4 losses
Dec 08 – 16 wins / 5 losses
Jan 09 – 15 wins / 5 losses
Feb 09 = 15 wins / 5 losses
Mar 09 – 16 wins / 6 losses
Apr 09 – 16 wins / 6 losses
May 09 – 17 wins / 4 losses
June 09 – 14 wins / 8 losses
July 09 – 18 wins / 4 losses
Aug 09 – 17 wins / 4 losses
Sep 09 – 18 wins / 4 losses

Not bad for an hours work.

Please correct me if you think any of this is wrong or you think that another way is better, i'm always open to suggestions on improvements etc.

FXpilot - You mention something about Quantum research that suggests that this system should continute to do well. What is that mate, if you don't mind me asking?

Well that's my first contribution, hope to get some feedback, thanks.
Trade the price action, not the cash!!!
  • #1,394
  • Oct 27, 2009 8:21am Oct 27, 2009 8:21am
Quoting Scullmeister
Hi guys - I am knew to this site (this is my first post).

I have read through this whole thread and there's now so many different variations. I have been trading this system using the 5am to 7.15 candle, so this means i don't take a trade till after 7.30 (hope that makes sense). I use the 15 min charts for this and take the range between these candles for my stop, however i never exceed 40 pips, so if the range happens to be say 64 or whatever, i still only set it at 40. I have a profit limit of 30 and that's it. For Oct i have had 14 wins and...
Hi Scull

If you say 5 am.

Is that Gmt or Lomdon time ?

If it is London time, do you change with daylight saving ?

Maybe you can post a chart to explain.

Thanks and welcome to the thread.

  • #1,395
  • Oct 27, 2009 8:33am Oct 27, 2009 8:33am
Quoting matlobien
Hi Scull

If you say 5 am.

Is that Gmt or Lomdon time ?

If it is London time, do you change with daylight saving ?

Maybe you can post a chart to explain.

Thanks and welcome to the thread.

Hi there - i trade London time because i'm simply trying to catch the London Breakout, so on a very basic level all i am trying to do is catch the movement at the beginning of the working day in the UK (so basically when the big players are starting to trade in the morning).

I do not get involved in the daylight changes, just use 5am till 7.15am, 15min chart, using IG index quick charts, very simple. No indicators, nothing, just draw your lines at 5am and 7.15am, which actually closes at 7.30 (check clock on laptop) and that's it.

Good results, very simple, small amount of time at PC.
Trade the price action, not the cash!!!
  • #1,396
  • Oct 27, 2009 8:48am Oct 27, 2009 8:48am
Quoting Scullmeister
Hi guys - I am knew to this site (this is my first post).

I have read through this whole thread and there's now so many different variations. I have been trading this system using the 5am to 7.15 candle, so this means i don't take a trade till after 7.30 (hope that makes sense). I use the 15 min charts for this and take the range between these candles for my stop, however i never exceed 40 pips, so if the range happens to be say 64 or whatever, i still only set it at 40. I have a profit limit of 30 and that's it. For Oct i have had 14 wins and...
Hi Scullmeister,

Great job with your backtesting results. The strategy is robust and works well. The Quantum Research paper can be found in this thread on page 84, post 1260. Happy trading.

fxpilot
  • #1,397
  • Oct 27, 2009 9:00am Oct 27, 2009 9:00am
Thanks FXpilot - I'll take a look at the research now, cheers once again.
Trade the price action, not the cash!!!
  • #1,398
  • Oct 27, 2009 9:23am Oct 27, 2009 9:23am
In one year of back testing there has not been even one day with no trade?? What am I missing?
Vincit qui se vincit.
  • #1,399
  • Oct 27, 2009 10:17am Oct 27, 2009 10:17am
did u use a buffer zone?


Quoting Scullmeister
Hi guys - I am knew to this site (this is my first post)....
"The person who knows that enough is enough, will always have enough". .
  • #1,400
  • Oct 27, 2009 10:24am Oct 27, 2009 10:24am
Quoting maq
did u use a buffer zone?
Sorry forgot to mention i use 7 + spread for a BUY and just 7 for a SELL.
Trade the price action, not the cash!!!
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