GbpUsd 5 min breakout

thx hnosair

apologies for the stupid questions. btw i am not using live but trying to test using strategy tester

i when i drag the ea to the chart i change the times but then when i use the strategy tester in opens up a new chart which is stuck on the original time settings

thx

you need to edit the EA settings in the tester, you know, and dont forget to change the TF

happy new year all

ty hove

how do i edit the settings in the tester ?

you simplay click on Expert's Settings, its on the upper right corner of the tester window.

look at the pic attached...writing with a mouse sux :

gl

Hi guys

My first post on FF. I've been reading many threads here for quite some time now. And I just want to say a huge thanks to everyone for their efforts.

However, this thread has really got my attention. This trading method could be just what I'm looking for. Thanks Cain for publishing it here.

I have been trialing many similar breakout methods, but none have quite done what I need them to. I dont want to follow it completely but only up to the first trade win or lose.

My way of trading this method will be different so I dont want to hijack this thread with my way but, the first part will be identical so if you dont mind Cain, I'd like to be able to discuss that part here?

If you say no, then fine, I will comment no more.

Cheers guys

hi,

how do i click with mouse ?

thank you

I can't get the EA to actually place a demo trade. It shows all the past setup's, but the current setup doesn't show up until I re-compile it in the strategy tester. It is active in the 5min chart. Any help?

I dont think the EA provided here is fully according to the Rules (Did I missed something?). There is a 2Times the lot size if the trade turns the other way round. This itself can determine fully and is responsible for the systems' profitability... Unless this rule is implemented in the EA, I am still trading this system "manually".

Yesterday if the EA is used, the Sell was a lost (missed by 5 pips) and the Buy was a win. Overall - Breakeven. It'd be a different story if traded manually...

I'm not sure it's working correctly either.

When I back tested it, it would randomly enter more than 1 trade for the day. Sometimes as many as 13 trades!!

Still, maybe its something I'm doing wrong

Hi,
same happened with me! it enters sometime several trades (similar one).
i have tested it with strategy tester. see attached pic.
i am not sure if it still need some fine tuning or i am doing something wrong.
thanks hnosair for the Ea and Cain for the great system
Happy pips everyone

IceBerg

yes. this happens to me on a demo account with another broker. probably, needs a little modification to prevent multiple entries.

and EA has not been tested or verified.

wow, that was fast
loose 24 pips, than collect 48 pips (total +24) in 50 min.
cheers !!

Happy New Year gents(and ladies)'
Another false break this morning,BUT,the reversal worked a treat,now if i could just gain the confidence to double the second trade.

Has anyone been testing any filthers for this system to detect false breakouts or to confirm entry.. eg...maybe only enter after candle close.... Results have been great since Nov but history shows that in the long term if we double up after entry the results while still profitable will be very different from Nov and Dec 09..... I going live on small account from tomorrow on.....

Yes, great day today. Positive pips for me too. Loss on the first, but the second one turned out a winner.

Archie

Hi,

What have you experienced during backtest? Nov and Dec were great months, and I'm sure this system will have its bad months as well. What results have you had concerning double up?

Hi Archie,

I have only manually backtested from Feb 08 to Aug 08.. It takes me so long to do it manually that I am trying to define as many parameters as possible before I test all of 08 and 09.. The results I got weren't bad but I feel they can be improved a bit with a filter of slightly changing the method to increase profits.. I just haven't figured it out yet...Results below...

Feb 320 pips
Mar 450 pips
April 94
May -235
June -232
July 191
Aug 153

Total for 7 months = 741 pips.

I haven't taken the spread into account but to be honest in most cases the spread could have been added on and the results wouldn't have varied much at all. If we assume 21 trading days per month we have a total trading period of 147 days. That gives us an average of 5.04 pips per day for that period and thats assuming we can capture the spread in each trade also.. While it was profitable for this period it hardly seems worth while trading unless using a large account as very often the drawdown can be high. I think we may improve the results by not entering the trade until the breakout candle closes and I think that increasing the lot size X 2 after a losing trade only leads to higher losses in the long term. There seems to be hardly any discussion on here about trying to figure out how to avoid these losses when they happen as since this thread started the results have been pretty steady. However, if we don't come up with something soon I have a feeling we will have been 'busy fools' as soon as the bad run arrives and we end up giving back our Nov /Dec good fortune...of course I hope I'm wrong but even looking back over other periods it's obvious that a couple of losing days could wipe out the whole month and more... That's why I'm wondering does anyone have any thoughts on a few slight tweaks here and there before we're cleaned out........... The discussion on here only seems to talk about the daily winning trades we have been getting and an EA, however I really don't believe we have a dependable profitable system yet.......I'm only a newbie so I could be totally wrong of course...What do you think????

Blinkers..

Of those who have back tested, do any of you have results in the form of simply 'win' or 'lose' the trade?

I'm not interested in how many pips made or lost or, doubled up or not. Just whether the trade won or lost.

Something like

WWWLWLLLWWLLLWLLLWWWWWLWWWLWWLWW........

If anyone has, I'd be very greatful if you would share please.

Thanks

Theres an awfull lot of false breaks recently guys,
If the above data is correct,heres a taught,

Observe each morning,observe till the first order fails,get greedy on the reverse order,i.e 2 or 3 of your regular lotts.

At the moment theres 2 or 3 false breaks a week.

As i'm still learning,what do the more learned think.

80 % win rate ,i'd like that

Sorry but this data is a waste of time. The number of pips won or lost is not important. You would be better of displaying this data as units. A win = +1, a double win +2, a loss -1. Each single win or loss is the same value so this would show the information much more clearly. Otherwise one win of 100 pips could hide 5 losses of 20.

max