0400-0700 GMT Breakout Strategy | Page 115 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

FXDD GMT+2 or GMT+3 10 replies

What does GMT shift and GMT shift Sun do in this indicator? 0 replies

MBO = Monday Break Out 8 utc gmt - 7 utc gmt 22 replies

What is the best server time for H4 trading? GMT+0, GMT+1 or GMT+2? 10 replies

web charting package with GMT +2 or GMT 2 replies

Attachments: 0400-0700 GMT Breakout Strategy
Exit Attachments

0400-0700 GMT Breakout Strategy

  • #2,281
  • Jan 21, 2010 1:50am Jan 21, 2010 1:50am
Quoting grant18265
yep...

1st winner....phew..lol

for the newer guys here this is where RR and good money management are essential...

Despite having only 1 win with 5 losses and 3 BE's i am still BE for the month..

cheers

Grant
at which pip amount do you move your SL to BE grant ? havent found it in your .doc
Never whishing, always trading.
  • #2,282
  • Jan 21, 2010 1:56am Jan 21, 2010 1:56am
At last !!

I am using a variation of Grant and Dubai's and so far this month before today I have:

3 x loss

6 x breakeven

Todays win gives a return of 3.4 x initial risk after allowing for spread so as Grant has mentioned 1 win can bring you back into profit in my case now up 0.4 x initial risk for the month. The main difference in my system is that I move my stop to breakeven after 17 pips (including spread) and using Dubai variation as well Grant's gives me more set up's that just using Grant's see prior posts for more info
  • #2,283
  • Jan 21, 2010 1:59am Jan 21, 2010 1:59am
Quoting Hova
at which pip amount do you move your SL to BE grant ? havent found it in your .doc

Move SL to BE at +25 pips
  • #2,284
  • Edited 2:27am Jan 21, 2010 2:09am | Edited 2:27am
Quoting Indyfx
At last !!

I am using a variation of Grant and Dubai's and so far this month before today I have:

3 x loss

6 x breakeven

Todays win gives a return of 3.4 x initial risk after allowing for spread so as Grant has mentioned 1 win can bring you back into profit in my case now up 0.4 x initial risk for the month. The main difference in my system is that I move my stop to breakeven after 17 pips (including spread) and using Dubai variation as well Grant's gives me more set up's that just using Grant's see prior posts for more info
good to see indy back, i got +25 and +75 with the 4-6 time frame and +25 and +50 with the 5-7.15 time frame and have 1 runner at half size which is currently +90 odd, good to see we are banking profits again.

the addition of taking an extra position on grants method the past week has helped my returns but still undecided if its as effective as just having the 75 pips TP on its own with the 15 stop loss or trading the two positions and splitting the 1% risk across the two
  • #2,285
  • Jan 21, 2010 2:19am Jan 21, 2010 2:19am
Quoting Hova
at which pip amount do you move your SL to BE grant ? havent found it in your .doc

Hova

SL to BE @ +25 pips

cheers

Grant
  • #2,286
  • Jan 21, 2010 2:46am Jan 21, 2010 2:46am
Quoting grant18265
Hova

SL to BE @ +25 pips

cheers

Grant
thx grant, your method worked well in 08 and 09, visual backtest resulted in
1151 pips in 08 and 3000 in 09 (without BE @ 25 pips, so there might be some more pips due to less loosers)
Never whishing, always trading.
  • #2,287
  • Edited 10:46am Jan 21, 2010 3:21am | Edited 10:46am
Here are the results from 1st October and 21st Jan inclusive:

October:

3 x win

2 x loss

1 x breakeven

Gain of 5.29 x intial risk including spread

November:

5 x win

2 x loss

2 x breakeven

Gain of 10.15 x intial risk including spread

December (from 1st December to 18th December):

3 x win

2 x loss

0 x breakeven

Gain of 5.29 x intial risk including spread

January (4th January to 21st January inclusive) :

3 x win (one sold out early after retesting high 3 times)

1 x loss

0 x breakeven

Gain of 5.51 x intial risk including spread so far

Totals for this period:

14 x wins (one sold out early after retesting high 3 times)

7 x losses

3 x breakeven

Gain of 26.24 x intial risk including spread

Settings:

a) use the slope indicators using a 4.00am - 6.30am GMT box 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

No Buffer

Entry: Once the price has moved 1 pip above or below the box (in the correct direction) you wait to enter 5 pips better (including spread) than the top or bottom of the box. So for example if you are going long and the box top is 13420 once the price hits 13421 you are looking to enter at 13415 (after allowing for the spread)

Stop 23 pips including spread

Move to breakeven after 37 pips including spread

Target 56 pips including spread

I have used a spread of 4 pips rather than the 3 I get to make it simplier

No trade after 09.20am GMT
  • #2,288
  • Jan 21, 2010 4:23am Jan 21, 2010 4:23am
Thanks to Zuke and Grant18265 for comfirming my numbers

The plan worked out today. Made good pips today. Reentered on a break of 6205 and finally out at 6150

Find uploaded a chart of todays action
Attached Image
If you think you can or cannot do it you are correct
  • #2,289
  • Jan 21, 2010 4:27am Jan 21, 2010 4:27am
Quoting Zuke
Filled SHORT at 1.6247...4 lots. SL is 1.6307 TP1 1.6187 TP2 1.6127
Out for an aggregate +90 on 4 lots....happy days are here again!!
  • #2,290
  • Jan 21, 2010 4:31am Jan 21, 2010 4:31am
good trading zuke. well done. Tomorrow is another day...

Wish everyone loads of pips
If you think you can or cannot do it you are correct
  • #2,291
  • Jan 21, 2010 5:08am Jan 21, 2010 5:08am
zuke what kind of sl you trading with

Quoting Zuke
Out for an aggregate +90 on 4 lots....happy days are here again!!
"The person who knows that enough is enough, will always have enough". .
  • #2,292
  • Jan 21, 2010 5:10am Jan 21, 2010 5:10am
grant

winner winner chicken dinner

if you have seen the film 21 then you know the above
"The person who knows that enough is enough, will always have enough". .
  • #2,293
  • Jan 21, 2010 5:40am Jan 21, 2010 5:40am
Quoting maq
grant

winner winner chicken dinner

if you have seen the film 21 then you know the above
lol, good film, what a life they had.....
  • #2,294
  • Jan 21, 2010 9:32am Jan 21, 2010 9:32am
Quoting maq
zuke what kind of sl you trading with
Hi Maq, I trade 60 pip SL or the range. However if the range is close to 60 pips (like today) I just set a 60 pip default SL. Because of this, I set my TPs to +60 and +120
  • #2,295
  • Jan 21, 2010 12:35pm Jan 21, 2010 12:35pm
Does anyone have a slope indicator that doesn't repaint?
  • #2,296
  • Jan 21, 2010 11:30pm Jan 21, 2010 11:30pm
My long position just opened at 1.6245. Can anyone confirm?

If my long opens, do I delete my sell stop?
Shit Happens
  • #2,297
  • Jan 21, 2010 11:40pm Jan 21, 2010 11:40pm
Settings for my Cable Breakout Box

High 1.6242
Low 1.6203

My LONG has been filled 4 lots at 1.6250 (some slippage), SL is 1.6200 TP1 is 1.6310 (exit 2 lots and move stop to breakeven) TP2 is 1.6370 (exit remaining 2 lots). Trade runs to TP2, Breakeven, SL or Close of 23:00 candle

Happy trading to all!
  • #2,298
  • Jan 22, 2010 1:54am Jan 22, 2010 1:54am
Quoting Zuke
Settings for my Cable Breakout Box

High 1.6242
Low 1.6203

My LONG has been filled 4 lots at 1.6250 (some slippage), SL is 1.6200 TP1 is 1.6310 (exit 2 lots and move stop to breakeven) TP2 is 1.6370 (exit remaining 2 lots). Trade runs to TP2, Breakeven, SL or Close of 23:00 candle

Happy trading to all!
Stopped out for -50...ah well the Friday effect strikes again!!
  • #2,299
  • Jan 22, 2010 2:38am Jan 22, 2010 2:38am
Quoting Zuke
Stopped out for -50...ah well the Friday effect strikes again!!
I got +25 1st position and breakeven 2nd position from a 1.6250 entry on the 5-07.15 box no trade on grants method as the 85 ema was in the box
  • #2,300
  • Jan 22, 2010 10:19am Jan 22, 2010 10:19am
Quoting Zuke
Stopped out for -50...ah well the Friday effect strikes again!!
What a day!! -50 on the long and +90 on the short!! +40 on a day that I thought was gonna be a loser...hope you all got pips!
0 traders viewing now