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0400-0700 GMT Breakout Strategy

  • #2,201
  • Jan 13, 2010 12:28pm Jan 13, 2010 12:28pm
year,2009. May be a truer measure. Or maybe you only trade live in Nov. and Dec.?
Vincit qui se vincit.
  • #2,202
  • Jan 13, 2010 12:45pm Jan 13, 2010 12:45pm
Tam Lin, it depends on chances of winning 60 pips.But yes, if the chance 50/50 , then there's no difference.

So,I backtested GBPUSD with 0.1 and 0.1 lot (with breakeven) with my settings, from 19 oct till 13 january. Result:+1156.2 (drawdown 558)

Result with 0.2 lot with TP=60 pips with breakeven. Result:+1358. (drawdown 580).

Result with 0.2 lot with TP=60 pips without breakeven. Result:+1005. (drawdown 596).
  • #2,203
  • Jan 13, 2010 1:17pm Jan 13, 2010 1:17pm
Quoting Pippopotamus
year,2009. May be a truer measure. Or maybe you only trade live in Nov. and Dec.?

as i said it was only a quick backtest, i wont trade it, just wanted to see

Sculls approach ftw....

Never whishing, always trading.
  • #2,204
  • Jan 13, 2010 2:46pm Jan 13, 2010 2:46pm
Hi guys i am going to stop replying to questions for a bit as i seem to be getting the same ones everyday, trust you understand. I must have been asked approx 7 times now what my settings are and it's starting to drive me a bit nuts.

Also people are asking why i have a win and they have a loss or vica versa. If you follow the strategy as per my details mentioned many times before and you still get different results then it is simply that your your broker/spread betting company is different to mine and the spread has caused a different result and that is it. I have gone over everything i think i need to re: my strategy and i have helped best i can, but i can't keep answering the same questions over and over again, for my own sanity if anything.

Don't want to sound like an arse, but everything you need is in this thread.

I am currently working on another strategy that since Sept 09 has brought in approx 400 pips per month, trading 0800hrs till 1500rs and +200 pips, trading 0800hrs to 1200hrs, with an SL of 15 and the PT can be anything from say 10 pips to 150 pips per trade depending if the indicators line up. I will be sharing this with the forum soon.

Thanks for your understanding.
Trade the price action, not the cash!!!
  • #2,205
  • Jan 13, 2010 2:50pm Jan 13, 2010 2:50pm
Hello All
I have just read the thread from page one, very interesting indeed! It seems that it has grown in to two separate ways of trading the original system. Grants method which uses 4-6 gmt and a 85 ema for guidance on wether to take a long or short pending order, or no order at all. And Scully's 5-7 which places both a pending buy and sell at the top and bottom of the box, and then when one triggers the other is canceled.
Please someone correct me if I am wrong
I have set up charts for both in a demo account. I like the fact that people have spent so much time on back testing, thank to all concerned.

Questions:
Is there an EA available that you place on Scullys box that wil cancel the other pending order
Is there a time when Scully's orders are cancelled

Thx again
  • #2,206
  • Jan 13, 2010 5:37pm Jan 13, 2010 5:37pm
Quoting Scullmeister
Hi guys i am going to stop replying to questions for a bit as i seem to be getting the same ones everyday, trust you understand. I must have been asked approx 7 times now what my settings are and it's starting to drive me a bit nuts.

......

Don't want to sound like an arse, but everything you need is in this thread.

......

Thanks for your understanding.
To assist others and to make sure that Scully comes back here with his new strategy I have attached every post that Scully made on this thread. Just save the file and unzip it. It has a html file and it will open in Firefox or whatever you use.
Attached File(s)
File Type: zip Scullmeister.zip   36 KB | 963 downloads
  • #2,207
  • Jan 13, 2010 9:45pm Jan 13, 2010 9:45pm
Quoting Tam Lin
Hello Everyone,

I've just joined, but have been following this breakout thread with interest for some time. Thanks to all of you for your ideas and experiences.

One question occurs to me, which I don't think has been clearly dealt with. Let's say Trader A goes for a simple TP30 take profit, while Trader B divides the trade in two and goes for TP30 with one part, and TP60 with the other (adjusting to break even should the second part fail). What exactly is the difference between the two strategies? If you think, perhaps from back testing or experience,...
Tam it is for EXACTLY this reason that I shoot for 100 pips each trade and do not move my stop to break even. Of course it means that some days (like Monday) I have the annoying trade that goes +85 and ends up only +3 or indeed, in theory, can go from +99 to -50, but as these occurences are rare, I can deal with it.

The most difficult thing is to choose what TP to shoot for. I am finding that 100 is quite a stetch, but as I have a fixed SL (-50) the RR is very good. At the moment I am looking to see whether it is better to take profit at MM Levels instead...I will post my findings on here once completed
  • #2,208
  • Jan 13, 2010 10:12pm Jan 13, 2010 10:12pm
Guys, I know this not the thread for this but would like to get some advice from the group I discussed with frequently:

I'm trying to create a simulation with this attached indicator in another software due to the limitation in MT4. Can someone help to decipher the attached indicator and advice me what's this indicator is measuring/indicating as I've zero programming skill.


Many Thanks
Attached File(s)
File Type: ex4 ###Gann_HiLo_Activator_v2###.ex4   2 KB | 274 downloads
  • #2,209
  • Jan 14, 2010 3:24am Jan 14, 2010 3:24am
I had a lost on Grant's method today, 3 loses 2 BE so far for me.
  • #2,210
  • Jan 14, 2010 3:55am Jan 14, 2010 3:55am
Quoting grant18265
no mat,

finished BE today, 2 loss 2 BE this month thus far..

cheers

Grant
Sorry, my bad.

Looks like my eyesight failed me there.

  • #2,211
  • Jan 14, 2010 4:21am Jan 14, 2010 4:21am
Quoting wawarulez
I had a lost on Grant's method today, 3 loses 2 BE so far for me.

Same to me but i'm not disscouraged. Biggest consecutive looses ammoun last year was 7 with this method (only losses and BE). One win and we are in plus

Misiacyk
  • #2,212
  • Jan 14, 2010 4:25am Jan 14, 2010 4:25am
yep very annoying but that trading... lol

3 loss, 2 BE here as well...

NEXT!!!

cheers

Grant
  • #2,213
  • Jan 14, 2010 4:48am Jan 14, 2010 4:48am
Quoting grant18265
yep very annoying but that trading... lol

3 loss, 2 BE here as well...

NEXT!!!

cheers

Grant
Random distribution...... the wins will come.... we just dont know when
  • #2,214
  • Jan 14, 2010 4:52am Jan 14, 2010 4:52am
Quoting grant18265
yep very annoying but that trading... lol

3 loss, 2 BE here as well...

NEXT!!!

cheers

Grant
By the way Grant, I think your method is excellent, thank you for sharing your work.

I wish I had something positive to add to the discussions.

The only thing I can add is to anyone that is discouraged by a few losers is dont hang on the next trade, just trade the method, look at the results on a monthly basis, the hit rate, the reward/risk, etc etc. The stats add up to a profitable methodology so stick with it.
  • #2,215
  • Jan 14, 2010 5:24am Jan 14, 2010 5:24am
seems like a long wait today for sculls method to breakout looking short at 1.6263 if not for a 7 pip buffer it would have been a lose already as a 6 pip buffer triggered
"The person who knows that enough is enough, will always have enough". .
  • #2,216
  • Jan 14, 2010 5:36am Jan 14, 2010 5:36am
Quoting WildWood
By the way Grant, I think your method is excellent, thank you for sharing your work.

I wish I had something positive to add to the discussions.

The only thing I can add is to anyone that is discouraged by a few losers is dont hang on the next trade, just trade the method, look at the results on a monthly basis, the hit rate, the reward/risk, etc etc. The stats add up to a profitable methodology so stick with it.

Thanks WW,

however it may be called Grants method (not sure why it wasnt my doing) BUT its more a collective method, there are many people to thank who have all contributed along the way... (they know who they are)

cheers

Grant
  • #2,217
  • Jan 14, 2010 5:38am Jan 14, 2010 5:38am
Quoting maq
seems like a long wait today for sculls method to breakout looking short at 1.6263 if not for a 7 pip buffer it would have been a lose already as a 6 pip buffer triggered

My short just triggered at that price. I will probably tighten up stops quick if it goes into profit. Trading into daily and monthly pivot. Plus lots of news during US session coming.
  • #2,218
  • Jan 14, 2010 5:48am Jan 14, 2010 5:48am
yep it triggered just as i post and i think it will be a profitable trade

Quoting Cmartin371
My short just triggered at that price. I will probably tighten up stops quick if it goes into profit. Trading into daily and monthly pivot. Plus lots of news during US session coming.
"The person who knows that enough is enough, will always have enough". .
  • #2,219
  • Jan 14, 2010 7:06am Jan 14, 2010 7:06am
If it is any consolation I trade a number of different set up's and the results have been very poor since week commencing 14th Dec. I did not trade for the 2 weeks between 21st Dec and 1st Jan and the last 2 weeks as you are finding have not been good. The retracements are far deeper and more regular than they were in Oct, Nov and the beginning of Dec. So you have frustrating days like yesterday where you get stopped out at breakeven only to find that the trade goes on to reach its target

I am sure that it will come back but until then I am staying out and will just monitor the results of my set up's until I see an improvement
  • #2,220
  • Jan 14, 2010 7:49am Jan 14, 2010 7:49am
scull's breakout

very close to s/l will it turn around to profit we will wait and see

Quoting maq
yep it triggered just as i post and i think it will be a profitable trade
"The person who knows that enough is enough, will always have enough". .
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