0400-0700 GMT Breakout Strategy

this years results for me 2 no trades, one loss today. Sell at 15950, soon as it triggered market went crazy

wawu u might want to havea buffer on the box peopel on this thread myself included use anythign froma 4 - 10 pips buffer that would have kept you out of the box trade this morning.

also more relevantly the low barrier was posted at about the 06.45 uk time candle and has not tested since what times are you using for your box ?

by the way grant i share your thoughts on dubai,and this method is certianly not his, he added value to the thread but then so does everyone. and for a trader with 2 years experiecn to be selling a ebook based on a system that is not their own making is quite puzzling

happy 2010 trading guys and girls

Win today with an open at 1.5994 and TP at 1.6024. Did not let the trade run at the daily pivot was v.v close at 1.6025.

Buffer was 40pips, Sculls method wins again,

al

what time frames are you using ?

can all that post winners/loser please state the time frame and if they are using grants , sculls or anyother times

many thanks

I looked at the period from 2nd October to 4th December for GBP USD so in that respect my findings are for a relatively short period. I was comparing

a) Grant's method using the 4.00am - 6.00am GMT box with the 85 EMA and his buffers

b) to the use of the slope indicators using a 4.00am - 6.00am GMT box (as introduced to me by DT but using my settings) 200, 3, 0 and 100, 3, 0 where both have to be pointing in the same direction at the end of the box and you would trade in that direction

both applied to a 15 min chart


I was looking for some correlation between the 2 but the results were quite interesting. Over this period:

Trading days-----------------------------------------------46

Days both methods indicating same direction-----------------20

Days valid direction only on Grant's (slopes conflicting)--------9

Days valid direction only on slopes (MA in box)---------------10

Days no valid direction on either-----------------------------7


I then went about looking for the optimum parameters which would produce the best return whilst not making that return too dependant upon a small number of winners. The result was very close to Grant's setting and are as follows:

Buffer 4 pips excluding spread

Stop 20 pips excluding spread

Move to breakeven after 19 pips excluding spread

Target 77 pips excluding spread

No trade after 08.30am GMT


The results were as follows:

Winners--------------11

(of which 6 came from a valid set up on both systems, 2 came just from Grant's, 3 came just from the slopes)

Breakeven------------11

Losers-----------------4

(of which 2 came from a valid set up on both systems, 2 came just from Grant's, 0 came just from the slopes)


ROI (including my spread which is 2 pips):

37.5 - 4 = RO1 of 33.5

So if for example you are risking 2% of your trading account which would represent $200 of risk for each new position you would have made $6,700 over this 2 month period (after allowing for spread)


Conclusion: If you applied the slopes as well as Grant's and take trades on either or both you end up with more winning trades. I found that during this period a quicker move of your stop to breakeven worked best in converting trades to breakeven which would have been losers otherwise.

Indy,

Just to confirm...You say the target is 77 pips; does this mean that in your analysis that the average win was 77 pips or all 11 wins were 77 pips etc. Or was a win defined as anything over 30 pips or some other number.

Thanks.

Yes wins, just trade it mechanically and you will prevail.

Sorry i don't post much anymore guys, just wanted to share my simple method which is a take on the original anyway, so not my own. I think you should be making decent profits if trading it mechanically now, i know i am.

I also trade Grants strategy the simple way and that is also bringing in the profits.

Happy pipping traders.

Hey Scull,

welcome back... lol

just to throw some more confusion, i also started your method this week live alongside my version and have had 3 wins thus far.

thanks for sharing mate...

cheers

Grant

And just to confirm..

Scully's method from post# 1592...
Quote:
Originally Posted by Scullmeister http://cdn.forexfactory.com/images/buttons/viewpost.gif
Ok here are my rules Bobcat and for any other traders out there that are interested. This may not suit all of you, so just take a look. If you like them use them, if you don't, then maybe you can adjust them to suit your own style of trading.

15min timeframe using IG index quick charts
Draw vertical line @ 0500 (which closes at 0515) - London Time
Draw vertical line @ 0700 (which closes at 0715) - London Time
PT = +30
SL = The range of the high and low line, but never exceeding 60 pips.

Let the trades run all day if you have to, however if they...

For the Long, use buffer of 10 and the Short use 7.


Thanks.

I am also running both Grant's 4-6 as well as the 5 -7. If no trad on 4 - 6 the I look for trade with 5 -7. This may confuse me but i thought that I would try it.

thats what i use flyer. i try to not use more tahn 40 for the SL though...

cheers

Grant

Yeah traders discretion, the range for the SL, but never exceeding 60 or just 40, whatever sits with you well.

Hi Grant, hope your well mate, we had a loser on Mon using my strategy, so 2 wins, 1 loss.

Adios

All 11 were 77 pip winners

Since 4th December (excluding 21 December - 1 January) there have been 2 more winners, 4 more breakeven and I loser (today)

Outstanding.

thanks for the clarification.

I just need a little clarification about this strategy. 1 Do u place 2 orders(buy & sell stops) and let them run or you cancel one if the other is triggered? 2 is the entry exactly at the breakout of the top or bottom of the box or u enter at let say 5 to 10 pips after breakout

I'm using 4am to 6am UK time and I had a buffer of 5 pips for sell (its Grant's strat), one of my brokers said the low was 15955 so I bought at 950, but another broker said low was 953, so if I had used other one I would of been safe.

for grant today was no trade as the 85ema was in the box

Scullmeister - so your only filter is 10 and 7 pips of buffer?
You place two orders and wait for one to be activated and then you delate oposite one, or you leave two orders and it's possible for both of them to be activated?

Misiacyk

scull wins again nice