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

  • #1,721
  • Nov 27, 2009 8:42am Nov 27, 2009 8:42am
HI vatoslocus

i am at work at moment with no mt4 but as far as i remember your charts confirm exactly how my week went - i had 2 winning trades on the g/u and 3 on the g/y and 1 non activated on the g/y. The no trades are the 3 that you mention plus another on the g/y . There were a couple of trades on the g/y where the 85ema was just in the box but above or below the candles which i took. The only loss was the g/y on monday.

i post only to try to get involved rather than lurking

thanks to all contributors for a great system
  • #1,722
  • Nov 27, 2009 3:47pm Nov 27, 2009 3:47pm
Quoting Indyfx
Hi Guys,

I think that you might be able to reduce your stop loss on the morning box breakout for GBP USD and as a result increase the amount you gain in relation to the amount that you are risking....

I have been thinking down these lines. Originally I had been increasing my s/l to 60 to reduce the whipsaws but more and more the smaller s/l has the appeal for the reasons you state. I'm currently using a s/l of 40.
I'll use this weekend to go over my trades. i have beeen live since October but I use the 2 - 5 GMT box. There seems to be a big movement at 7am regularly of late that is captured by the earlier box. This box also works better timing wise for the day job.
  • #1,723
  • Nov 28, 2009 1:13am Nov 28, 2009 1:13am
FYI

TP1 = 30; Target on first trade
TP2 = 70; Target on second trade
TP3 = 100; Target on third trade
TP3_control = true; ????? if false There is no TP3 order
expiration_hours = 11; If no open trades by 11hours then forget for today
place_order_at_hour = 7;Open trade and 7:15AM GMT
place_order_at_minute = 15;Open trade and 7:15AM GMT
use_previous_x_15_min_bars = 13; Count back 13 candles to form box
buffer_for_entry = 7;This is a number of pips, user defined, that adds onto the box. So if the box height is 50 pips, and 1.6500 and 1.6550 respectively, the buffer of say 10 would make entries 1.6490 for a short and 1.6560 for a long.
turn_on_spread = false;allow TPs and SLs to be effected by spread.

buffer_for_SL = 00;?????? Take the SL range larger
max_range_SL = 50;Stop Loss BEFORE first TP1 is reached
SL_factor = 0.764;?????? if the range is smaller than max range of SL, the SL will have this factor , e.g. if the BOX is only 30 pips...the SL will be only 30 x 0.764
Lots_control = false;?????? calculate the lot size by EA
unitlot = 40;????? if lot control = true, each equity of $40 will have 0.1 lot
Lots = 0.1; Lot size for order 1
Lots_TP2 = 0.1;Lot size for order 2
Lots_TP3 = 0.1;Lot size for order 3
close_order = true;?????? if false...it will not close order by EA
order_close_at_hour = 17;if still open at 17:00 then close all
order_close_at_minute = 00;if still open at 17:00 then close all
move_new_SL_when_TP1_BE = true;Move SL on order #2 & #3 to break even
var_from_entry = 0;?????? when reach TP1, the SL will change to entry level....if this change the SL will change to entry level + var_from_entry
var_from_TP1 = 0;?????? same as above....by for TP2

str1 = "-=MA setting=-";?????....meaningless
MA_idicator = true;Moving average. Define the timeframe to use, also which period of MA to use.
MA_TF = 15; Time frame to calculate candles to form "box"
MA_period = 90; Moving average. Define the timeframe to use, also which period of MA to use.
OCO = true;One cancels other. This is an order where when direction triggers, the other cancels.
magic_num = 3149;change to use on multiple pairs or charts
str2= "-=Week_No_setting=-"; days to trade
mon = true;days to trade
tue = true;days to trade
wed = true;days to trade
thu = true;days to trade
fri = true;days to trade

Thanx
B-cat
  • #1,724
  • Edited 3:07pm Nov 28, 2009 1:56pm | Edited 3:07pm
dear Traders,

I was trying to test the EA but I get an "OrderSend Error 147". Can someone tell me how to fix this and why it is happening?

Thanks

I need to add that I removed the "Expiration" from OrderSend() function.
  • #1,725
  • Nov 28, 2009 3:30pm Nov 28, 2009 3:30pm
Quoting Forexaccount
dear Traders,

I was trying to test the EA but I get an "OrderSend Error 147". Can someone tell me how to fix this and why it is happening?

Thanks

I need to add that I removed the "Expiration" from OrderSend() function.

Yes ... "OrderSend error 147", it means that your broker is not supporting expirations.

greetings from Germany,
Dietmar (DL4HAO)
  • #1,726
  • Nov 28, 2009 3:48pm Nov 28, 2009 3:48pm
Quoting dl4hao
Yes ... "OrderSend error 147", it means that your broker is not supporting expirations.

greetings from Germany,
Dietmar (DL4HAO)

Hi,

I removed the expiration from the code but still have the same issue. Can someone help me?

Thanks
  • #1,727
  • Nov 29, 2009 12:48am Nov 29, 2009 12:48am
Quoting wltam
FYI

TP1 = 30; Target on first trade
TP2 = 70; Target on second trade
TP3 = 100; Target on third trade
TP3_control = true; ????? if false There is no TP3 order
expiration_hours = 11; If no open trades by 11hours then forget for today
place_order_at_hour = 7;Open trade and 7:15AM GMT
place_order_at_minute = 15;Open trade and 7:15AM GMT
use_previous_x_15_min_bars = 13; Count back 13 candles to form box
buffer_for_entry...
I currently am having good success manually trading a similar breakout strategy and am interested in the possibility of using the EA. I have been adding 13 pips buffer for the Buy Stop and 8 for the Sell Stop (basically to cover the spread which is around 5 pips down here in NZ). I also don't use a Moving Average. From reading the EA definitions it would appear that you need the same buffer for buy and sell. Is this correct? Does it add the spread for a buy? Also if you set MA Indicator to 'False' does that remove the MA filter?

Hoping someone can assist.

Cheers
ForexKiwi
  • #1,728
  • Nov 29, 2009 9:42am Nov 29, 2009 9:42am
Hi Kiwi,

Yep, if you set MA to false, the EA will not take into account any MA. There is an option to allow for spread on entries and exits, I believe.
  • #1,729
  • Nov 29, 2009 10:27am Nov 29, 2009 10:27am
Hi guys,

after making an good work on Gu on this thread, i am looking for trade GY, can you share your better TP and SL ?

thanks

Greg
  • #1,730
  • Nov 29, 2009 10:34am Nov 29, 2009 10:34am
Quoting gregart
Hi guys,

after making an good work on Gu on this thread, i am looking for trade GY, can you share your better TP and SL ?

thanks

Greg
Why not be the one to do some research on GJ? Don't always rely on others to do the donkey work.

GJ can be extremely volatile so I'd imagine SL and TP would be somewhat different. I'd like to look at studying a pair that has negative correlation to GU so if GU loses, the negative correlation pair has a higher chance of winning to cancel out the loss. Something I'm going to work on the next few days.
  • #1,731
  • Nov 29, 2009 10:40am Nov 29, 2009 10:40am
Quoting DubaiTrader
Why not be the one to do some research on GJ? Don't always rely on others to do the donkey work.

GJ can be extremely volatile so I'd imagine SL and TP would be somewhat different. I'd like to look at studying a pair that has negative correlation to GU so if GU loses, the negative correlation pair has a higher chance of winning to cancel out the loss. Something I'm going to work on the next few days.
Hi Dubaļ trader, if you took some time fir read this thread you can see than i share all my results, i am only asking an question, is too much for you ?
  • #1,732
  • Nov 29, 2009 11:17am Nov 29, 2009 11:17am
Quoting gregart
Hi Dubaļ trader, if you took some time fir read this thread you can see than i share all my results, i am only asking an question, is too much for you ?
I've read your work and good for you for sharing. What is too much for me?

I'm sure someone will test GJ eventually but if you want results quickly, i'd do them yourself imo.
  • #1,733
  • Nov 29, 2009 11:23am Nov 29, 2009 11:23am
Quoting DubaiTrader
I've read your work and good for you for sharing. What is too much for me?

I'm sure someone will test GJ eventually but if you want results quickly, i'd do them yourself imo.
I did hundred's backtests for find something good, i ask an question as i answer when somebody tell me, that's the way for sharing.
follow your way and good luck
  • #1,734
  • Nov 29, 2009 1:58pm Nov 29, 2009 1:58pm
I agree with you there Dubai. If you are trading GU breakout, then it would be common sense to try find another currency that is not correlated, GJ would be a bad choice.

I will look into this also.
Trade the price action, not the cash!!!
  • #1,735
  • Nov 30, 2009 3:03am Nov 30, 2009 3:03am
Quoting Amigo
Here's the EA for this strategy. You can test it. (iTimerange - put in indicators field)

SL is on another side of the box, but not more than minStopLoss. Share your opinions which parameters are the best

it's for 4 digit brokers. for 5 digit - just add 0.
Hey Amigo,
I tried this today and it worked a treat. Will test some more. Does this work on STP/ECN brokers that don't accept SL/TP with the intial order.

Thanks
  • #1,736
  • Nov 30, 2009 4:02am Nov 30, 2009 4:02am
Hey all,

I used to post here a few months ago but I stopped because I gave up on this strategy but I've been looking back over my recent trades and strategies and realised the break out was my most successful and consistant trading, plus it was a very simple startegy to set up. Anyway I have been keeping up to date with the thread and thought I would post again.

Scull your method is working great and thats good to see I'm sure you probably know this by now but the USD/CHF has the best negative correlation with the GBP/USD so I would suggest looking into that pair. I've just started looking myself so if I find anything of interest I'll post.
  • #1,737
  • Nov 30, 2009 4:13am Nov 30, 2009 4:13am
Hi All,

November turned out to be very nice, +22%.

If anyone is following the method i posted a while back then well done.

Many pips to you all

Grant

ps. thanks to usual suspects that have helped in the tweaking, you know who you are...lol
  • #1,738
  • Nov 30, 2009 5:37am Nov 30, 2009 5:37am
Quoting DubaiTrader
Why not be the one to do some research on GJ? Don't always rely on others to do the donkey work.

GJ can be extremely volatile so I'd imagine SL and TP would be somewhat different. I'd like to look at studying a pair that has negative correlation to GU so if GU loses, the negative correlation pair has a higher chance of winning to cancel out the loss. Something I'm going to work on the next few days.
Hi Dubai,

Here is a link to a web site that lists the correlations between the majors.

Unless I am mistaken you are looking for another pair that is not correlated to GBP USD rather than negatively correlated. If you choose one that is negatively correlated then if you are long GBP USD you would be short the other pair but both pairs would still move together. If you look at the link you will see that the USD JPY seems to be least correlated in other words any move that you get on GBP USD is unlikley to be mirrored (either in the same direction or opposite direction) as both pairs do their own thing

http://www.dailyfx.com/forex/technic...___How_Do.html
  • #1,739
  • Nov 30, 2009 7:29am Nov 30, 2009 7:29am
Quoting matlobien
I want to post some research I have done on Scull's method.

This was done on forward testing on a live IBFX account only from 1 November.

Took all trades except NFP Friday and 10 November when box was to big.

Trades = 11
Wins = 6
Losers = 5
% Win = 55
Pips = -20

Then I put Grant's...
Hi

Please refer to the above post to see how the methods work.

Method 1

Trades = 19
Wins = 11
Losers = 8
% Win = 58
Pips = 10

Method 2

Trades = 17
Wins = 12
Losers = 5
% Win = 71
Pips = 160

Method 3 and 4

Trades = 11
Wins = 8
Losers = 3
% Win = 73
Pips = 120

This is for the month of November.

By using the basics of this method and only looking at price action for entry I have managed to grow my personal account by 68 %.

The only reason why I post this is to give newbies hope.

Please do not ask me to explain PA because this is something you have to study and there is a lot of good teachers on FF.

Thanks again to Scull, Grant and Dubai. You rock.

  • #1,740
  • Nov 30, 2009 7:34am Nov 30, 2009 7:34am
Quoting matlobien
Hi

Please refer to the above post to see how the methods work.

Method 1

Trades = 19
Wins = 11
Losers = 8
% Win = 58
Pips = 10

Method 2

Trades = 17
Wins = 12
Losers = 5
% Win = 71
Pips = 160

Method 3 and 4

Trades = 11
Wins = 8
Losers = 3
% Win = 73
Pips = 120

This is for the month of November.

By using the basics of this method and only looking at price action for entry...
Excellent returns, Mat and long may it continue for you.
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