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

  • #2,161
  • Jan 12, 2010 4:14am Jan 12, 2010 4:14am
Quoting WildWood
Hi Hova

Can you tell me what Indicator you used to create your breakout box with high/low/ and range figures please?

see attached

Quote
Well, first loss for me this year.

Not bad.

See you tomorrow.

you dont take 2 orders a day ? my long triggered 10 mins ago
Attached File(s)
File Type: ex4 ant-GUBreakout_V.0.4.1-4.ex4   13 KB | 464 downloads
Never whishing, always trading.
  • #2,162
  • Jan 12, 2010 4:39am Jan 12, 2010 4:39am
scull's breakout for info post 1393

Sept 08 – 17 wins / 5 losses
Oct 08 – 16 wins / 6 losses
Nov 08 – 16 wins / 4 losses
Dec 08 – 16 wins / 5 losses
Jan 09 – 15 wins / 5 losses
Feb 09 = 15 wins / 5 losses
Mar 09 – 16 wins / 6 losses
Apr 09 – 16 wins / 6 losses
May 09 – 17 wins / 4 losses
June 09 – 14 wins / 8 losses
July 09 – 18 wins / 4 losses
Aug 09 – 17 wins / 4 losses
Sep 09 – 18 wins / 4 losses
"The person who knows that enough is enough, will always have enough". .
  • #2,163
  • Jan 12, 2010 6:49am Jan 12, 2010 6:49am
Did anyone who lost the short trade on the breakout this morning take the long trade afterwards (based on the same high/low range figures)?
It went on to make its 30 pips, thereby making today a nil day (and is still at about +20 pips at the time of writing)

I am paper trading just now and interested to hear people's thoughts on taking the opposite trades if the first one loses

Happy pipping

Austin
  • #2,164
  • Jan 12, 2010 6:56am Jan 12, 2010 6:56am
scull's breakout for info post 1393
Tp=30
Sl=60

Sept 08 – 17 wins / 5 losses | 510 / -300 = +210
Oct 08 – 16 wins / 6 losses | 480 / -360 = +120
Nov 08 – 16 wins / 4 losses | 480 / -240 =+240
Dec 08 – 16 wins / 5 losses | 480 / -300 = +180
Jan 09 – 15 wins / 5 losses | 450 / -300 = +150
Feb 09 = 15 wins / 5 losses |450 / -300 = +150
Mar 09 – 16 wins / 6 losses | 480 / -360 = +120
Apr 09 – 16 wins / 6 losses | 480 / -360 = +120
May 09 – 17 wins / 4 losses | 510 / -240 = +270
June 09 – 14 wins / 8 losses | 420 / -480 = -60
July 09 – 18 wins / 4 losses | 540 / -240 = +300
Aug 09 – 17 wins / 4 losses | 510 / -240 = +270
Sep 09 – 18 wins / 4 losses | 540 / -240 = +300

= +2370 pips
Never whishing, always trading.
  • #2,165
  • Jan 12, 2010 6:59am Jan 12, 2010 6:59am
Quoting Austinc1972
Did anyone who lost the short trade on the breakout this morning take the long trade afterwards (based on the same high/low range figures)?
It went on to make its 30 pips, thereby making today a nil day (and is still at about +20 pips at the time of writing)

I am paper trading just now and interested to hear people's thoughts on taking the opposite trades if the first one loses

Happy pipping

Austin
i did, but my first one was -60, and i (idiot) closed the long trade for +20
so im -40 this day...whatever there will be a tomorrow

I was not monitoring the trade, but the triangle breakout @ ~10.30 would let me exit the short pos.

note for me: next time breakfast with my little sexy 22" monitor
Never whishing, always trading.
  • #2,166
  • Jan 12, 2010 7:04am Jan 12, 2010 7:04am
Quoting Austinc1972
Did anyone who lost the short trade on the breakout this morning take the long trade afterwards (based on the same high/low range figures)?
It went on to make its 30 pips, thereby making today a nil day (and is still at about +20 pips at the time of writing)

I am paper trading just now and interested to hear people's thoughts on taking the opposite trades if the first one loses

Happy pipping

Austin
I never take the reverse trade.

Trust me if you have a live account and lose both trades its not so .

Learned that the hard way.

  • #2,167
  • Jan 12, 2010 7:16am Jan 12, 2010 7:16am
Quoting grant18265
Hi Jarrod,

my version of this method has a risk/reward of 1:5, ie risk 1, win 5

Sept, 12 trades, 6 wins, 5 losses, 1 BE, +25%
Oct, 12 trades, 3 wins, 8 losses, 1 BE, +7%
Nov, 9 trades, 5 wins, 3 losses, 1 BE, +22%
Dec (to date), 3 trades, 1 win, 1 loss, 1 BE, +4%.

All the above are my actual live account results...

hope that helps..

Grant
How are you doing so far in Jan mate ?

Monday looked like a BE and today a loss.

Hope you are lining up a bunch of new clients.

  • #2,168
  • Jan 12, 2010 7:25am Jan 12, 2010 7:25am
not all loses are -60 but still good

Quoting Hova
scull's breakout for info post 1393
Tp=30
Sl=60

Sept 08 – 17 wins / 5 losses | 510 / -300 = +210
Oct 08 – 16 wins / 6 losses | 480 / -360 = +120
Nov 08 – 16 wins / 4 losses | 480 / -240 =+240
Dec 08 – 16 wins / 5 losses | 480 / -300 = +180
Jan 09 – 15 wins / 5 losses | 450 / -300 = +150
[b][size=3][font=Calibri]Feb...
"The person who knows that enough is enough, will always have enough". .
  • #2,169
  • Jan 12, 2010 7:26am Jan 12, 2010 7:26am
Quoting maq
not all loses are -60 but still good

yeah your right, but i wanted to show extremes, dont wanna go back and backtest 360+ days
Never whishing, always trading.
  • #2,170
  • Jan 12, 2010 7:39am Jan 12, 2010 7:39am
Quoting maq
not all loses are -60 but still good
Exactly what i was going to say Mat, some of the losses will be 20, 30, 40,50 etc, etc, but using 60 shows the worst case scenario. I am using 40 standard at the moment and it seems to be working well.
Trade the price action, not the cash!!!
  • #2,171
  • Jan 12, 2010 7:47am Jan 12, 2010 7:47am
Quoting Scullmeister
Exactly what i was going to say Mat, some of the losses will be 20, 30, 40,50 etc, etc, but using 60 shows the worst case scenario. I am using 40 standard at the moment and it seems to be working well.
Do you guys not use £ or $ to measure wins and losses, rather than pips?
If my risk on each trade is £100 (for 40 pips), then a win is £75 (30 pips at £2.50 per pip) and a loss is £100
Just because one day the SL is 50 pips, my loss would still be £100 but my win would be £60 (30 pips at £2.00 per pip)

Just curious, as I am sure that the bank manager would rather see money than pips

Austin
  • #2,172
  • Jan 12, 2010 7:53am Jan 12, 2010 7:53am
Quoting Austinc1972
Do you guys not use £ or $ to measure wins and losses, rather than pips?
If my risk on each trade is £100 (for 40 pips), then a win is £75 (30 pips at £2.50 per pip) and a loss is £100
Just because one day the SL is 50 pips, my loss would still be £100 but my win would be £60 (30 pips at £2.00 per pip)

Just curious, as I am sure that the bank manager would rather see money than pips

Austin
Excellent point! You should always lose a set % not varying amounts! You risk 3% and it doesn't matter if your SL is 30/40/50/60 pips, you adjust accordingly.
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  • #2,173
  • Jan 12, 2010 8:18am Jan 12, 2010 8:18am
Quoting Austinc1972
Do you guys not use £ or $ to measure wins and losses, rather than pips?
If my risk on each trade is £100 (for 40 pips), then a win is £75 (30 pips at £2.50 per pip) and a loss is £100
Just because one day the SL is 50 pips, my loss would still be £100 but my win would be £60 (30 pips at £2.00 per pip)

Just curious, as I am sure that the bank manager would rather see money than pips

Austin
I do for myself, you have to (pips mean nothing, real hard cash is everything), but for newbies reading this i just wanted to point that out or else a flood of posts will come in all in confusion.
Trade the price action, not the cash!!!
  • #2,174
  • Jan 12, 2010 8:23am Jan 12, 2010 8:23am
+2370 pips for 13 months

can be x£1 , x£2 or what you want
"The person who knows that enough is enough, will always have enough". .
  • #2,175
  • Jan 12, 2010 9:35am Jan 12, 2010 9:35am
We measure typically in % return. As an example, I redid Scully's numbers and assumed a 40 pip SL as a standard SL. In that case, as I risk 1% of my equity on each account, Scully's method would have gained me an average of 7%.

people use pips in the forums but it does not mean that they use it in their own backend. As well actual dollars does not help anyone make comparisons on a forum either as everyone has there own risk profile and MM strategy.

Knowing the pips gained and SL is all that is needed so each person can figure out what it would mean to them or to put it another way...the reward as a multiplier.

i have no doubt that Scully and others here also calculate their ave win, ave loss, winrate etc so they know the expectancy of their system. However, telling someone that you made $100 today does not tell them anything about the system being employed and we are here to learn this system and its benefit to us as a system with a certain expectancy.
  • #2,176
  • Jan 12, 2010 9:51am Jan 12, 2010 9:51am
Quoting matlobien
How are you doing so far in Jan mate ?

Monday looked like a BE and today a loss.

Hope you are lining up a bunch of new clients.


Hi mate,

not the greatest start for Jan -2% (-30 pips), but the beauty of my RR is 1 win wipes that and more.... lol

however started trading Sculls method and have had 5 wins 2 losses thus far which is nice...

as for the new clients, i have my hands full with the ones i have already.... lol

cheers

Grant
  • #2,177
  • Jan 12, 2010 9:51am Jan 12, 2010 9:51am
Agree with all of that - just that saying that if someone lost 40 pips one day and gained 30 pips the next day then readers might think that they are in a losing position, whereas money management might mean that they are actually winning

I appreciate that pips is a good way of counting, while everything else is not known
% increase also works for me

Anyways, didn't want to stir things up, especially with what is a great thread

Keep up the good work, one and all

Austin
  • #2,178
  • Jan 12, 2010 9:57am Jan 12, 2010 9:57am
Quoting flyer415
We measure typically in % return. As an example, I redid Scully's numbers and assumed a 40 pip SL as a standard SL. In that case, as I risk 1% of my equity on each account, Scully's method would have gained me an average of 7%.

people use pips in the forums but it does not mean that they use it in their own backend. As well actual dollars does not help anyone make comparisons on a forum either as everyone has there own risk profile and MM strategy.

Knowing the pips gained and SL is all that is needed so each person can figure out what it would...

Flyer

couldnt agree more mate, you should always quote in % as my value per pip may be totally different to sculls for example...

imho quoting in pips or $ is pointless and helps no one..

cheers

Grant
  • #2,179
  • Jan 12, 2010 2:33pm Jan 12, 2010 2:33pm
Quoting Scullmeister
Greg i do not know where you made the mistake, but it is def 5 wins, 1 loss.

Mon - -40
Tue - +30
Wed - +30
Thu - +30
Fri - +30
Mon - +30
That's ok Scull, thanks

Hova, regarding your 4th monday's chart, there something strange in your feed although it's same than mine, so Alpari. the 2 candles of 8:15 and 8:30 touch the short and it was a loss.

cheers

Greg
  • #2,180
  • Jan 12, 2010 3:17pm Jan 12, 2010 3:17pm
Quoting gregart
That's ok Scull, thanks

Hova, regarding your 4th monday's chart, there something strange in your feed although it's same than mine, so Alpari. the 2 candles of 8:15 and 8:30 touch the short and it was a loss.

cheers

Greg
I cant see where price touches the short order, btw. this is fxopen, but i also cant see it on Alpari.
Never whishing, always trading.
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