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GbpUsd 5 min breakout

  • #61
  • Dec 6, 2009 11:41am Dec 6, 2009 11:41am
Quoting cspip
Nice breakout system,

Maybe you could move your stop loss to break even after getting past half the box size?
Might be a good idea,but,and its a big but,this would take constant monatering.
  • #62
  • Dec 7, 2009 3:11am Dec 7, 2009 3:11am
Winner winner chicken dinner,50 pips in 40 mins this morning,job done
  • #63
  • Dec 7, 2009 4:34am Dec 7, 2009 4:34am
Quoting arrowloopboy
Winner winner chicken dinner,50 pips in 40 mins this morning,job done
i took ~70 pips, with ~70 pips stop because range was 46pips + 20 pips for the box (~70 incl. spread) or did i misunderstand something wrong?
  • #64
  • Dec 7, 2009 6:07am Dec 7, 2009 6:07am
Quoting j0ker
i took ~70 pips, with ~70 pips stop because range was 46pips + 20 pips for the box (~70 incl. spread) or did i misunderstand something wrong?
Yes your doing it all wrong,you took too many pips,bold boy.My range was 49 pips,thats what i took.
  • #65
  • Dec 7, 2009 8:36am Dec 7, 2009 8:36am
Good job guys, when I turned the computer on at 6 (east coast) I knew someone was smiling. 2 hour free fall.
  • #66
  • Dec 7, 2009 9:49am Dec 7, 2009 9:49am
Quoting arrowloopboy
Yes your doing it all wrong,you took too many pips,bold boy.My range was 49 pips,thats what i took.
Wasn't the range today ~67pips including all the buffers of 10 pips etc ?
  • #67
  • Dec 7, 2009 10:37am Dec 7, 2009 10:37am
Thats what I got, 47 pip hi/lo so 67 with the 2 buffers.
  • #68
  • Dec 7, 2009 11:04am Dec 7, 2009 11:04am
Hi Cain,

Very interesting you say your worst day is breakeven.

So has every trade that gone against you...you then double up and it has made it back? Every single one? I dont mean to sound pressing but this must be one heck of a winner.... You could be loaded in no time using larger lots etc...

Oz
  • #69
  • Dec 7, 2009 11:28am Dec 7, 2009 11:28am
Quoting ozzieb88
Hi Cain,

Very interesting you say your worst day is breakeven.

So has every trade that gone against you...you then double up and it has made it back? Every single one? I dont mean to sound pressing but this must be one heck of a winner.... You could be loaded in no time using larger lots etc...

Oz
Thats just it, its not so much how many pips but the value of each one...
The bigger the box the lower the lot size....
  • #70
  • Dec 7, 2009 11:53am Dec 7, 2009 11:53am
Thanks

Will be watching with interest....might demo it.

No losses so far is just too much to take it at the moment!! lol I dont class break even as a loss...

Oz
  • #71
  • Dec 7, 2009 11:57am Dec 7, 2009 11:57am
Quoting Bankshot
Cain, have you tried this on any other pairs at their respective time frames? I guess I'll have a look, getting up at 2am eastern time US is rough... not that I wont do it of course.
Oh yes, is 8 GM+1 7am local London and what do you suppose is the signifiance, start of the day?

I didn't Bankshot, too busy at the time. I'm looking forward to your backtesting results on other pairs, let us know when you have them.
  • #72
  • Dec 7, 2009 12:04pm Dec 7, 2009 12:04pm
Quoting j0ker
Cain,

just wanted to say thank you for that system, it looks really great and i did some backtesting the last weeks and it works very well.

I will start testing it on a small live account on monday and hope the results will be good

Greetings from Frankfurt

I hope you can cash many pips!
  • #73
  • Dec 7, 2009 12:05pm Dec 7, 2009 12:05pm
Quoting juhanimi
You could do this every hour. 9-9.10 10-10.10 and so on.

No I couldn't... I wish I could though...
  • #74
  • Dec 7, 2009 12:09pm Dec 7, 2009 12:09pm
Quoting cspip
Nice breakout system,

Maybe you could move your stop loss to break even after getting past half the box size?
The results would be different, for me is like this; "If it works, it works."
  • #75
  • Dec 7, 2009 12:16pm Dec 7, 2009 12:16pm
Quoting ozzieb88
Hi Cain,

Very interesting you say your worst day is breakeven.

So has every trade that gone against you...you then double up and it has made it back? Every single one? I dont mean to sound pressing but this must be one heck of a winner.... You could be loaded in no time using larger lots etc...

Oz

I think it is...

64,7 pips for me today!
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  • #76
  • Dec 7, 2009 2:56pm Dec 7, 2009 2:56pm
Cain, my beginner status is showing. I tried to set up a test on the 3 practice accounts I have but they are smarter than I am. I did do an eye ball test on various pairs and most did as expected. I can't remember if it was the eur/usd or the gbp/eur that did not fair so well. I will try agin tomorrow (time permiting) and keep notes. I also tried a sample at US market open 9:30 EST and your system did very well on several pairs here also. Thanks for the tips.
  • #77
  • Dec 7, 2009 5:43pm Dec 7, 2009 5:43pm
I think this trading system has a lot of potential....I tried it in a demo account and it works pretty good. No one is able to do a little EA? It would be very useful..I'm trying to do an EA by myself but I found some difficults...need help!!
Thank you Cain for the idea
  • #78
  • Edited 10:17am Dec 8, 2009 6:24am | Edited 10:17am
65,3 - spread!
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  • #79
  • Dec 8, 2009 6:29am Dec 8, 2009 6:29am
Quoting Cain
55,3 - spread!
nice work Cain, the system is really great, i took ~60pips, too but box was huge @ 8:15 with nearly 45+20pips buffer.

what i figured out by watching the last month´s charts that maybe the SL doesnt need to be that great, about 70-80% of the box would do it and will increase profitability by trading bigger sizes and increasing risk reward ratio.

maybe someone can confirm that or has made the same observations?
  • #80
  • Dec 8, 2009 8:38am Dec 8, 2009 8:38am
Thanks, Cains, Great work, Great Strategy !
I read it last night, and did a few back testings, and put on a live trade today, and just now on the computer, it TP 68 pips, great !
Thanks a lot for show the light in Forex !
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