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

  • #1,801
  • Dec 1, 2009 9:26pm Dec 1, 2009 9:26pm
Quoting xeqter
if anyone prefers to only have the 15min chart opened may download the following..

with the rules of dubai timeframe 60, period 50/25, method 3, price 0



cheers
This indicator looks weird on my FXDD platform. Just one stair-cased jagged line although it somewhat lines up with Dubai's slope setting of 50, 3, 0.
  • #1,802
  • Dec 2, 2009 12:42am Dec 2, 2009 12:42am
Quoting Bobcat2
This indicator looks weird on my FXDD platform. Just one stair-cased jagged line although it somewhat lines up with Dubai's slope setting of 50, 3, 0.

Bob, all MTF indicators will show a stepped approach. I find them hard to visually use for that reason.
  • #1,803
  • Dec 2, 2009 1:13am Dec 2, 2009 1:13am
Shorted Gu at 1.65785. In hindsight slope 50 was not negative. Will have to see.

EDIT: I have the ant-GU indi set up on M5 and H1 with the exact same settings but it shows different size boxes. Does this have to be set on a particular TF.

Thanks
  • #1,804
  • Dec 2, 2009 1:30am Dec 2, 2009 1:30am
Quoting Bobcat2
Hi Dubai,

2 questions please:

1) Is the 2 pip spread added to the 10 pip buffer for entries? In other wrods, is the long entry 12 pips above the top of the box? And is the short entry 10 pips below the box?

2) I believe Indy changed the slope parameters from your settings to 80 and 160 respectively on the 15 Min chart so that only one chart is necessary instead of two. Is that a valid change? Or do the slopes behave differently with your settings on the 1 hour chart?

Thanks again!
Hi BC,

I don't include spread on my buffer so if the entry is 1.6510 with the buffer, that's what I set my order for.

I haven't looked at putting the slope on a M15 chart and adjusting the settings, I'm happy flicking to a H1 chart as it gives me a bigger picture overall anyway.

1/12/2009 was a tricky one. Initial break was on the 0730 GMT candle then it retraced and then pierced again at 0800 GMT. At this time the 50 slope was beginning to align with the 25 slope. This would be an aggressive entry but I guess some people would take it.

The exact same situation is happening this morning with the 50 slope beginning to show red. It'll be another 30 minutes before confirming or not.
  • #1,805
  • Dec 2, 2009 1:38am Dec 2, 2009 1:38am
Dubai,

You say that your box gives a sell order for 6510. If so, then I must have this completely messed up as my box showed a sell order for 65808.

I have it on M5 as I did not think that TF for the box itself would matter. The settings are 4-7 GMT and my shift is +1 with a buffer of 100.

I also have the slope 25, 50 set up on H1.

Any help would be appreciated.

EDIT:

I exited at 65528 for 25 pips profit based on M5 PA on the doji but this entry may have been nothing but luck.
  • #1,806
  • Dec 2, 2009 1:43am Dec 2, 2009 1:43am
Quoting flyer415
Dubai,

You say that your box gives a sell order for 6510. If so, then I must have this completely messed up as my box showed a sell order for 65808.

I have it on M5 as I did not think that TF for the box itself would matter. The settings are 4-7 GMT and my shift is +1 with a buffer of 100.

I also have the slope 25, 50 set up on H1.

Any help would be appreciated.
Sorry for the confusion, flyer, I was just giving an example for BC about not allowing for spread on my buffer.

Today's short is 1.6556. However the 50 slope is still showing long so it's not a clear trade yet. I use 0500-0700 GMT.

TF will make a difference as your last candle finishes at 0905. Mine finishes at 0915.

Hope that helps.
  • #1,807
  • Dec 2, 2009 1:53am Dec 2, 2009 1:53am
The benefit of waiting for confirmation and not taking an aggressive entry has just paid off as the SL has just been hit. Thankfully the slope saved the day!

Hope a few of you avoided the loss by following the slope.
  • #1,808
  • Dec 2, 2009 1:54am Dec 2, 2009 1:54am
Dubai,

Yes it helps immensely. Thank you for your patience. As I wish to emulate your success i will change my Tf and indicators.
  • #1,809
  • Dec 2, 2009 1:55am Dec 2, 2009 1:55am
Grant have I got this right?

You only trade on a Monday with your strategy?
  • #1,810
  • Dec 2, 2009 2:00am Dec 2, 2009 2:00am
Dubai,

I used Indy's slope mod (100, 3, 0) and (200, 3, 0) on the 15 min FXDD chart. Both slopes agreed on a short signal. So, on Oanda I made a short trade at 1,6557 on my Oanda chart...which tanked.

So...this seems to show that the Indy slope mod doesn't exactly align with your original settings on the hour chart. Had I followed your 1 hour slope chart I wouldn't have had a 30 pip loss. Good lesson...

BC
  • #1,811
  • Dec 2, 2009 2:03am Dec 2, 2009 2:03am
Quoting flyer415
Dubai,

You say that your box gives a sell order for 6510. If so, then I must have this completely messed up as my box showed a sell order for 65808.

I have it on M5 as I did not think that TF for the box itself would matter. The settings are 4-7 GMT and my shift is +1 with a buffer of 100.

I also have the slope 25, 50 set up on H1.

Any help would be appreciated.

EDIT:

I exited at 65528 for 25 pips profit based on M5 PA on the doji but this entry may have been nothing but luck.
Hi Flyer,

It was not luck as it happened although it does not have anything to do with this thread. I trade a highly reliable set up that triggered at 85 and gave me 35 pips profit. I sold out at the daily pivot which happened to be close to the recent low

So there you go not luck after all !!
  • #1,812
  • Dec 2, 2009 2:04am Dec 2, 2009 2:04am
Quoting Bobcat2
Dubai,

I used Indy's slope mod (100, 3, 0) and (200, 3, 0) on the 15 min FXDD chart. Both slopes agreed on a short signal. So, on Oanda I made a short trade at 1,6557 on my Oanda chart...which tanked.

So...this seems to show that the Indy slope mod doesn't exactly align with your original settings on the hour chart. Had I followed your 1 hour slope chart I wouldn't have had a 30 pip loss. Good lesson...

BC

Sorry to hear that BC, at least you know for future purposes which chart to follow the slope on.

I prefer the H1 as it shows the bigger picture and you can get a broader sense of what is happening.
  • #1,813
  • Dec 2, 2009 2:07am Dec 2, 2009 2:07am
hey Indy, is there a thread for the strategy that has nothing to do with this one on FF?
  • #1,814
  • Dec 2, 2009 2:17am Dec 2, 2009 2:17am
well, actually i don't use the mtf slope myself..

just thought it might be useful for someone..
wanted to make a tiny contribution to this great thread after having lurked some time..

in appreciation for all the efforts of the poeple here.. esp. dubai, indy and scullmeister.. and all the others, too!
  • #1,815
  • Dec 2, 2009 2:21am Dec 2, 2009 2:21am
Quoting Bobcat2
Dubai,

I used Indy's slope mod (100, 3, 0) and (200, 3, 0) on the 15 min FXDD chart. Both slopes agreed on a short signal. So, on Oanda I made a short trade at 1,6557 on my Oanda chart...which tanked.

So...this seems to show that the Indy slope mod doesn't exactly align with your original settings on the hour chart. Had I followed your 1 hour slope chart I wouldn't have had a 30 pip loss. Good lesson...

BC
Hi Bob,

For me there was no valid set up based upon my rules. Instead of a buffer on certain of my box breakout set up if the price is trending at 07. 15am I wait for a clear pivot high or low to form on the 2min chart that I use before entering on the break of that pivot. This is mentioned in my post with my rules unfortunately I think that you must have overlooked this when looking at my post. I will give you the Zigzag setting to apply to a 1 min chart which would have avoided this trade. Unfortunately I know that it does get confusing with all the different rules and maybe you are best sticking to Dubai's which is more simple and very reliable. However here are the results for the last few weeks:

-----------Maximum move ------------Initial move ----------Maximum stop

12/11 ---------30 ------------------------4 --------------------11
13/11 ---------64 ------------------------5 --------------------11
16/11 ----------3 ------------------------Fail ------------------Fail
19/11 ---------43 ------------------------13 --------------------2
23/11 ---------62 ------------------------28 --------------------2
25/11 ---------80 -----------------------N/A -------------------N/A
26/11---------127------------------------9----------------------1
27/11----------33------------------------3----------------------2
  • #1,816
  • Dec 2, 2009 2:28am Dec 2, 2009 2:28am
waw

i trade every day, i think its gregart that only trdaes mondays

cheers
  • #1,817
  • Dec 2, 2009 2:31am Dec 2, 2009 2:31am
Quoting Indyfx
Hi Flyer,

It was not luck as it happened although it does not have anything to do with this thread. I trade a highly reliable set up that triggered at 85 and gave me 35 pips profit. I sold out at the daily pivot which happened to be close to the recent low

So there you go not luck after all !!
IndyFx,

You are correct as it was based primarily on another strategy I used. I was just surprised how well this thread tracks the other strategy on GU and was looking for both as confirmation. The exit was also based on the other strategy.

Now that I have the concept down (or I hope I do) I will compare both over the past month. I did plot Dubai's Nov trades and they were just a little later then my other strategy; however, i had losses where he did not. Also, my other strategy requires me to be present whereas here I can enter orders.
  • #1,818
  • Dec 2, 2009 2:37am Dec 2, 2009 2:37am
Quoting Indyfx
Hi Bob,

For me there was no valid set up based upon my rules. Instead of a buffer on certain of my box breakout set up if the price is trending at 07. 15am I wait for a clear pivot high or low to form on the 2min chart that I use before entering on the break of that pivot. This is mentioned in my post with my rules unfortunately I think that you must have overlooked this when looking at my post. I will give you the Zigzag setting to apply to a 1 min chart which would have avoided this trade. Unfortunately I know that it does get confusing with...
Hi Indy,

Yep...my own blundering is responsible for the loss...but I am not trading very many lots until I get a better feel for what's taking place. Sorry...I didn't in any way mean to infer any negatives with your trading methodology.

I do like your idea of drilling down to a 1 minute chart with appropriate slope settings. Apparently, the 15 minute 100/200 slope setups didn't agree with Dubai's 1 hour 25/50 setup. Do you think the 1 minute settings will prove to be more viable? And yes definitely, please provide the 1 min slope settings.

Good trading my friend!
  • #1,819
  • Dec 2, 2009 3:37am Dec 2, 2009 3:37am
Hello all,

Thank you for all your posts, I enjoy reading all of them and take away a nugget of knowledge from each.

I'm sure this has been covered, but what other pairs work with this?

Thank you in advance.
  • #1,820
  • Dec 2, 2009 4:02am Dec 2, 2009 4:02am
Quoting Bobcat2
Hi Indy,

Yep...my own blundering is responsible for the loss...but I am not trading very many lots until I get a better feel for what's taking place. Sorry...I didn't in any way mean to infer any negatives with your trading methodology.

I do like your idea of drilling down to a 1 minute chart with appropriate slope settings. Apparently, the 15 minute 100/200 slope setups didn't agree with Dubai's 1 hour 25/50 setup. Do you think the 1 minute settings will prove to be more viable? And yes definitely, please provide the 1 min slope settings....
Dear Bob,

It is not a slope that I use on the 1 min chart. I have a different charting system and I have tried to replicate the pivot feature in Metatrader. So if the price is trending at 07.15am GMT as it was this morning you would wait for a pivot low to form on the 1min chart and only take the entry on a break of that low.

If you look at the attached 1min chart I have added Zigzag lines in green to show the pivots using the following settings 15, 5, 3 (NB not the default settings). You will see no pivot was formed prior to 07.15am (which the price action after 07.15 breaks through) so you wait until the next pivot forms and as you can see it was formed quite a bit lower and was not broken. Please note my brokers chart is GMT +1
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