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0400-0700 GMT Breakout Strategy

  • #2,321
  • Jan 25, 2010 5:14pm Jan 25, 2010 5:14pm
Quoting Scullmeister
Hi Grant i have responded to your email re: the above.

Whoever did this is an absolute w#nker in my opinion and is slap bang out of order. You should get contact details of this person and ask him/her to explain themselves and ensure everyone is aware of him/her in this forum and any other forums in the FX world.

I honestly can't believe some people - absolutely unbelievable!!!

By the way, a win today on mine and no trade on YOUR strategy. After a shaky month mine is on B/E and yours (using IG) is on B/E also. Hopefully we will have a decent...
Hey I know I don't add much to this thread but I read it everyday, its a total joke what someone has done with Grant's method. I'm very upset to see you leave this thread scull (and any1 else who decides to leave) because I'm only just starting out and the contributions that everyone has made here has help me so so much. I follow grants method every day and when the strategy becomes profitable again I will gain more confidence and start using scull method (aswell as grants) since it has a larger stop loss.

I hope your new strategy goes very well for you and even if you don't share the method (which is totally acceptable since some1 is stealing them) I hope you post telling us how its going.

Josh
  • #2,322
  • Jan 25, 2010 5:36pm Jan 25, 2010 5:36pm
Hi guys,

I started to follow this threat not long ago and i'm currently manually testing both Scull and Grant's strategies. I'm sad to see both of you leaving but fully understand your reasons.
I work as a graphic designer and also had some work "stolen". What we have to remember is the difference between the intelligent and the stupid, the original and the copycat. We can ALWAYS make a new one, develop a new/old idea, (re)adapt to the market. They will always be lagging behind, living an utopia and making pennies. Above all, feel sorry for them.

Good luck.
  • #2,323
  • Jan 25, 2010 5:42pm Jan 25, 2010 5:42pm
Scull and Grant i think we shoudl ask all genuine members on here to expose who this thieving idiot is, and then bombard his website with complaints, if they are a member on here they should be de-listed, but first and foremsot they should be exposed as a FRAUD because plain and simple thats what they are if the reports above are bang on.

think its our duty to ensure that they sell no copies for 49$ as its a free method always has been, it would be great if we could alert people to whom they are and make it public that paying them is insane.

all the best, a very fired up

Kiwi
  • #2,324
  • Jan 25, 2010 6:21pm Jan 25, 2010 6:21pm
grant and scull don't leave here this thread has got more interesting with u guys

sure its not DT doing the selling?

the seller is missing the bigger picture the money's in the pips done properly
"The person who knows that enough is enough, will always have enough". .
  • #2,325
  • Jan 25, 2010 6:22pm Jan 25, 2010 6:22pm
I have been watching this thread for a while now and i have seen a lot of setups but i didn't find any for a VT trader . If someone has it can u please post it.
Thank a lots!!!
  • #2,326
  • Jan 26, 2010 12:23am Jan 26, 2010 12:23am
Quoting mysterio
Hello chaps

I'm following Scullmeister's variation on the strategy. Completely mechanically, on my charts, I have 11 winners and 5 losers so far for the month of Jan, equating to 170 pips or thereabouts. Actually, that was with a SL of 40 pips 'no matter what'. So if you went with the range as Scully suggests and only use 40 pips as a maximum, it may well be more.

With a risk of 5% and no compounding for the month I make that around 16% growth so far this January.

I'm surprised to hear you say you're on B/E Scullmeister unless i've completely...
Hi Mysterio - I'm really glad for you mate, excellant results! Not bad for a mornings work hey.

My results will be different coz of my spread betting company and spread i reckon. Unfortunately this month on 3 occasions for me, the market hit my SL by 0.0 pips and then went on to win. Just one of those things mate, you win some you lose some. I still have 4 days left to make a profit - lets see if i can pull out a profit, but good trading from you mate, keep trading it mechanically you'll do just fine.
Trade the price action, not the cash!!!
  • #2,327
  • Jan 26, 2010 1:41am Jan 26, 2010 1:41am
Quoting Scullmeister
Hi Grant i have responded to your email re: the above.

Whoever did this is an absolute w#nker in my opinion and is slap bang out of order. You should get contact details of this person and ask him/her to explain themselves and ensure everyone is aware of him/her in this forum and any other forums in the FX world.

I honestly can't believe some people - absolutely unbelievable!!!

By the way, a win today on mine and no trade on YOUR strategy. After a shaky month mine is on B/E and yours (using IG) is on B/E also. Hopefully we will have a decent...
Grant/Schull

Its a shame that it has come to this because of some short sighted greedy individual which has now destroyed what was a very active little community of followers of your methods. I read with interest on a daily basis and started to trade Grants method this month with a view to adding Schulls method after 3 months. I was also keen to here Sculls new method.

Maybe you both could look at creating a subscription based forum, I for one would pay to join as I am sure other genuine followers would too.

I hope there is something that can be done, if not, good luck and thank you for sharing your methods anyway, it is appreciated that traders like yourselves are willing to do this and help others succeed in this business.
  • #2,328
  • Jan 26, 2010 2:01am Jan 26, 2010 2:01am
Quoting WildWood
Grant/Schull

Its a shame that it has come to this because of some short sighted greedy individual which has now destroyed what was a very active little community of followers of your methods. I read with interest on a daily basis and started to trade Grants method this month with a view to adding Schulls method after 3 months. I was also keen to here Sculls new method.

Maybe you both could look at creating a subscription based forum, I for one would pay to join as I am sure other genuine followers would too.

I hope there is something that...
Hi Wildwood - Many thanks for your comments, but i would never start up a subscription forum and expect any member to pay. This is not about the cash for me, i'm just here to share my ideas and thoughts about FX and hope to help others and be helped by others in a great community, unfortunately someone has spoilt it - but i fully understand where your coming from.

I will try and get details of this person and let everyone know.
Trade the price action, not the cash!!!
  • #2,329
  • Jan 26, 2010 2:01am Jan 26, 2010 2:01am
Gbpusd:
Sellstop @ 1.6185
sl: 1.6273
tp: 1.6155 or 1.6125

buy stop @ 1.6243
sl: 1.6185
tp: 1.6273 or 1.6303
{Promotion Removed}
  • #2,330
  • Jan 26, 2010 2:05am Jan 26, 2010 2:05am
Quoting grant18265
Hi All,

this is just a quick note to say well done to the person or persons who has bundled the grant breakout method and is now selling it for $49.

It even has jasons breakout box indicator, which i'm hoping you got permission to use before you sold it... Hopefully Jason will read this and take the appropriate action....

Selling free systems/methods, never thought i'd see that..

cheers

Grant

PS. if i were you Scull i'd patent your method quick.... lol
Hi Mate.

This is one of the saddest things I have seen so far on FF.

Two things that are in your favor is the bunch of angry followers you have here on FF. They will snuff him/her out and expose the culprit.

The second is the age old law of:"What you sow you WILL reap".

May the pips still keep following you.

  • #2,331
  • Jan 26, 2010 2:45am Jan 26, 2010 2:45am
funniest thing,

posted a reply to the thread where the paid for breakout strategy (its on donnas forum and starts with sure forex ) is discussed and i got b*llocked for saying that anyone who bought it is lazy. hope you can all take a look and tell them what you think... lol

cant wait for FPA to ask for reviews of this...

as for not posting on here anymore, that isnt going to happen, the strat may now be set in stone but there will always be new traders who arent lazy and will read a few pages to help them on their journey through fx..

as long as there are those kind of newbies i'll be around to help when i can...

many pips to you all

Grant

ps. no trade today, EMA in the box...
pps. sculls looks like a long from 1.62575 but i will be very wary of the UK GDP figure at 0930 gmt
  • #2,332
  • Jan 26, 2010 3:11am Jan 26, 2010 3:11am
Quoting grant18265
funniest thing,

posted a reply to the thread where the paid for breakout strategy (its on donnas forum and starts with sure forex ) is discussed and i got b*llocked for saying that anyone who bought it is lazy. hope you can all take a look and tell them what you think... lol

cant wait for FPA to ask for reviews of this...

as for not posting on here anymore, that isnt going to happen, the strat may now be set in stone but there will always be new traders who arent lazy and will read a few pages to...
Just done it mate, lol!
Trade the price action, not the cash!!!
  • #2,333
  • Jan 26, 2010 3:52am Jan 26, 2010 3:52am
Quoting Scullmeister
Just done it mate, lol!

Scullmeister,

Great thing that you and Grant continued to develop this thread. I followed it and the system in the early days, but then it went quiet. BO-systems like this need development, like filters and so on. Great work!

I have read the thread and I have found a summary of Grants method, but I can't seem to find one for your system. I would really appreciate if you could point me to a summary or something like that, so I don't miss any details.

I have been practising BO-systems for some time, and have tested and traded many different approaches. I have mainly traded systems for the Frankfurt and London open, so I am signing up!

Regards

Archie
  • #2,334
  • Jan 26, 2010 4:39am Jan 26, 2010 4:39am
Quote
I would really appreciate if you could point me to a summary or something like that, so I don't miss any details.

Check out post #2206
  • #2,335
  • Jan 26, 2010 5:01am Jan 26, 2010 5:01am
hello, everybody

I have long time no come to this thread already
How's everything on this?
  • #2,336
  • Jan 26, 2010 5:30am Jan 26, 2010 5:30am
From doing some eyeballed backtesting, it's not uncommon to see a breakout to one side of the box followed by a retrace right through the other side. Often the retrace is strong and fast, going on for 100+ pips.

I haven't had the time to do rigorous testing, but my gut feel from eyeballing a few random months' data over the last couple of years is that taking the counter trade often pays good dividends - certainly more then enough to cover the additional drawdown this approach causes now and again when you get whipsawed out two or three times.

I also coupled this with selecting fewer bars. By taking only the three 5.30 to 6.00 15M bars, for example, the box range is usually around 30 pips, and often quite a bit less. It's rarely more than 50 pips. Using the box plus a few pips as a stop loss, two opposite unsuccessful breakouts still only loses you 65 pips or so on average, which isn't the end of the world assuming good MM.

Looking at 4 January, for example, the box was about 24 pips. You'd have gone long, then short, then long, all before 10 in the morning. The first two were losers of let's say 25 pips each, but the third one rocketed to 130+ pips before hitting minor resistance from the day before.

Even just taking profit at 30 pips on this third trade would have left you better off than only taking the loss on the first (ie, lose 25 versus lose 50 but gain 30).

Depending on buffers and speads, similar things happened on other days earlier this month.

Also, even in cases where you get to TP1 on your first trade, an early counter trade very often nets you another. I saw more than one situation where there were three lots of 30 pips to be taken in opposite directions, all before 10.30 am or so.

Today is another interesting example. The box is 16 pips (without buffers, alpari UK feed). Ignoring spread and buffers, you'd have lost 16 pips or so on the short, but then won 30 pips on the long (assuming a buffer of 4 pips), then another 100 pips (so far) on the short.

I know most people don't take counter trades under this method, presumably to avoid the potential for multiple drawdowns. But has anyone looked more formally at the idea?

cheers
olpip
  • #2,337
  • Jan 26, 2010 5:44am Jan 26, 2010 5:44am
Quoting Scullmeister
Hi Mysterio - I'm really glad for you mate, excellant results! Not bad for a mornings work hey.

My results will be different coz of my spread betting company and spread i reckon. Unfortunately this month on 3 occasions for me, the market hit my SL by 0.0 pips and then went on to win. Just one of those things mate, you win some you lose some. I still have 4 days left to make a profit - lets see if i can pull out a profit, but good trading from you mate, keep trading it mechanically you'll do just fine.
Cheers. I just backtested December and I calculated 14 wins and 7 losers, about 140 pips. Simplicity itself, no filters or indicators, just a box!
  • #2,338
  • Jan 26, 2010 8:01am Jan 26, 2010 8:01am
Quoting grant18265
funniest thing,

posted a reply to the thread where the paid for breakout strategy (its on donnas forum and starts with sure forex ) is discussed and i got b*llocked for saying that anyone who bought it is lazy. hope you can all take a look and tell them what you think... lol

cant wait for FPA to ask for reviews of this...

as for not posting on here anymore, that isnt going to happen, the strat may now be set in stone but there will always be new traders who arent lazy and will read a few pages to...
Gald to hear that you will continue, I just found that site and left a comment. bloody ridiculous hope they get what's coming to them.

Josh
  • #2,339
  • Jan 26, 2010 8:11am Jan 26, 2010 8:11am
added to first post:
**** also see Scullmeister's method

(if anybody send me # of post of other methods I would add to first post.)
  • #2,340
  • Jan 26, 2010 8:20am Jan 26, 2010 8:20am
post a link

then we can leave a link back to here
"The person who knows that enough is enough, will always have enough". .
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