Can anyone please tell me more about fractal
- #1,528
- Nov 7, 2009 4:12am Nov 7, 2009 4:12am
- | Joined Oct 2009 | Status: Full Time Trader | 287 Posts
Haha - how i love these 20 page debates over trading times.
For my strategy i am simply catching the breakout of the London open, which is at 8am, so my lines are drawn at 5am and 7.15am LONDON TIME.
Buffer 10 for long, buffer 7 for short, now using the range as my SL, never exceeding 50 or 60 depending on the market condition with a PT of +30.
Can't get simpler than that cheekos.
Happy trading, i look forward to all the posts about where my lines are drawn again, LOL.
For my strategy i am simply catching the breakout of the London open, which is at 8am, so my lines are drawn at 5am and 7.15am LONDON TIME.
Buffer 10 for long, buffer 7 for short, now using the range as my SL, never exceeding 50 or 60 depending on the market condition with a PT of +30.
Can't get simpler than that cheekos.
Happy trading, i look forward to all the posts about where my lines are drawn again, LOL.
Trade the price action, not the cash!!!
- #1,529
- Nov 7, 2009 4:30am Nov 7, 2009 4:30am
Haha - how i love these 20 page debates over trading times.
For my strategy i am simply catching the breakout of the London open, which is at 8am, so my lines are drawn at 5am and 7.15am LONDON TIME.
Buffer 10 for long, buffer 7 for short, now using the range as my SL, never exceeding 50 or 60 depending on the market condition with a PT of +30.
Can't get simpler than that cheekos.
Happy trading, i look forward to all the posts about where my lines are drawn again, LOL.
Thanks man, your post was so usefull, catching 8 am London...
I guess you are living in UK.
If not you have to follow GMT.
I agree a point with Scullmeister that talking about "HOURS" which have certainly been spoked about before too many times, that it makes him laugh (rather tired)
i am sorry about, I didn't read all the post, I just could not let a guy say a mistake (may be me who did...)
Regards,
Billyjoe
PS : I have just checked,you are in England, come on man...
scull a few questions
1. how long have you been trading this breakout time frame
2. which broker do u use
3. how much backtesting did you trading this
4. which broker did u use for backtest
1. how long have you been trading this breakout time frame
2. which broker do u use
3. how much backtesting did you trading this
4. which broker did u use for backtest
Haha - how i love these 20 page debates over trading times.
For my strategy i am simply catching the breakout of the London open, which is at 8am, so my lines are drawn at 5am and 7.15am LONDON TIME.
Buffer 10 for long, buffer 7 for short, now using the range as my SL, never exceeding 50 or 60 depending on the market condition with a PT of +30.
Can't get simpler than that cheekos.
Happy trading, i look forward to all the posts about where my lines are drawn again, LOL.
"The person who knows that enough is enough, will always have enough".
.
- #1,534
- Nov 8, 2009 3:04am Nov 8, 2009 3:04am
- | Joined Oct 2009 | Status: Full Time Trader | 287 Posts
scull a few questions
1. how long have you been trading this breakout time frame
2. which broker do u use
3. how much backtesting did you trading this
4. which broker did u use for backtest
1 - About 4 months live.
2 - IG Index
3 - Right back to Sep 08
4 - Tess (TUFXP Software) - manual backtest.
Remember the strategy is only 50% of my trading. If there are high impact news announcements out then i monitor the trade and may move my SL where appropriate. I may even exit a trade if i think its going to go the other way, just so i at least take a bit of profit. I sometimes set my SL to the ranges of the high/low and i may even take a few more pips if the indicators are showing me that we are in a potential trend. I will also lower my risk sometimes depending on what announcements are out.
Imo having a system is great, but you have to use a bit of common sense as well. Combine that with a decent breakout method and you should bring in consistent profits per month.
For example Thur i moved my stop to b/e due to the high impact news announcement that came out and we were still in a trade and luckily didn't need it as it went on to make 30pips and on Fri i came out at b/e because the market was trending and it was NFP, i also lowered my risk for this day as well.
I personally think if you stick to a pretty decent breakout method, mix a little common sense in there and you should be ok.
Hope that helps and these are simply my opinions of course, doesn't mean it's right, it's whatever suits you.
Trade the price action, not the cash!!!
scull about ig index are they not spread + control risk GSL + 3
tess = is this software the one advertised by canbury publishing i guy called nick L costing 2.5k because i remember buying it but returned it withing the 30 days period
tess = is this software the one advertised by canbury publishing i guy called nick L costing 2.5k because i remember buying it but returned it withing the 30 days period
Hi -
1 - About 4 months live.
2 - IG Index
3 - Right back to Sep 08
4 - Tess (TUFXP Software) - manual backtest.
"The person who knows that enough is enough, will always have enough".
.
