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

  • #2,521
  • Feb 2, 2010 1:29pm Feb 2, 2010 1:29pm
Thanks to all who helped to confirm the box this morning and the subsequent help with the timing of the box/range on the alpari uk platform.

Although i didnt trade the method today I still donated some pips to the market from another method of trading of mine. So the net effect was still a minus day.

The trading continues tomorrow...
If you think you can or cannot do it you are correct
  • #2,522
  • Feb 3, 2010 1:40am Feb 3, 2010 1:40am
Long with Grant method 1.6019 !
Move to B/E now
+29 pips
zaba1
  • #2,523
  • Feb 3, 2010 1:48am Feb 3, 2010 1:48am
Box Range: High 1.6037, Low 1.5986. My LONG has been triggered...4 lots: 1.6040, SL 1.5985, TP1 1.6100 (2 lots) TP2 (1.6160)....close all outstanding trades on close of 23:00 candle (currently +7)

Good luck to all!
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  • #2,524
  • Feb 3, 2010 3:44am Feb 3, 2010 3:44am
i banked +20 on Grants method today it was alock in stop loss as the UK PMI data had the potential to bring the trade back to the Breakeven stop and even it would have hit your 15 pip stop if you had not moved to breakeven so took profits before the news, sometiems safety and prudence the best course of action. see you all tomorrow at the coalface
  • #2,525
  • Feb 3, 2010 3:50am Feb 3, 2010 3:50am
Quoting kiwiduvet
i banked +20 on Grants method today it was alock in stop loss as the UK PMI data had the potential to bring the trade back to the Breakeven stop and even it would have hit your 15 pip stop if you had not moved to breakeven so took profits before the news, sometiems safety and prudence the best course of action. see you all tomorrow at the coalface

I did exactly the same, 20 pips for me, up +5 pips (1%) this month
Never whishing, always trading.
  • #2,526
  • Feb 3, 2010 3:58am Feb 3, 2010 3:58am
I may have missed my +30 pip target by 5 pips, however still in the trade with a stop of 40.
The things which hurt, instruct! - Benjamin Franklin
  • #2,527
  • Feb 3, 2010 4:38am Feb 3, 2010 4:38am
Quoting Hova
I did exactly the same, 20 pips for me, up +5 pips (1%) this month
Well done guys. Can I ask what exact time did you decide to take profits? Was it right at 9:28 when early PMI dealings start happening or before? Just curious to learn about the way you do it with news. My feed showed +45 at the close of the 9:27 1M bar, but do you find it safer to close position way before that just in case?

Thanks!
  • #2,528
  • Feb 3, 2010 4:57am Feb 3, 2010 4:57am
Quoting sebasound
Well done guys. Can I ask what exact time did you decide to take profits? Was it right at 9:28 when early PMI dealings start happening or before? Just curious to learn about the way you do it with news. My feed showed +45 at the close of the 9:27 1M bar, but do you find it safer to close position way before that just in case?

Thanks!
I locked in 20 pips at 2 mins before the news then the stop got hit after the news,i was temopted to take the 45 odd pips of profit but in case the news was OK i wanted to give the trade a chance to run to the upside whilst locking in some profit tightly to the downside if the data was worse than expected whcih as it turned out the data was worse.

thats just what i am doing after picking it up from various people and my own experience over the course of the past 2-3 years
  • #2,529
  • Feb 3, 2010 4:59am Feb 3, 2010 4:59am
Another breakeven trade sticking to the rules. Regrettably no sign of improved volatility
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  • #2,530
  • Feb 3, 2010 5:07am Feb 3, 2010 5:07am
Quoting sebasound
Well done guys. Can I ask what exact time did you decide to take profits? Was it right at 9:28 when early PMI dealings start happening or before? Just curious to learn about the way you do it with news. My feed showed +45 at the close of the 9:27 1M bar, but do you find it safer to close position way before that just in case?

Thanks!
I've attached my chart.

I was watching the 10:00(GMT+1) candle, price was stalling around my price pivot zone @ 1.60600 and almost forming a PinBar, with the PMI coming up i decided to move my stop to +4% (20 pips) for today.


On the second chart you can see where i got this s/r line from.
Attached Image(s) (click to enlarge)
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Never whishing, always trading.
  • #2,531
  • Feb 3, 2010 5:10am Feb 3, 2010 5:10am
Quoting WildWood
Seba

Microsoft produce a package called VirtualPC which used to run on PowerPC Macs, not sure if it still does, but this would give you full Windows XP environment on your PowerPC Mac and would run MT4 without any problems.
Thanks Wildwood! Looking into it now, it's a proper nightmare because there's only one version that runs in G5 power pc mac (they run in G4 and G3, otherwise only in G5 Intel Macs). Not much luck in the last days.

Thanks a lot for the tip though, it helps me keep going!

Best
Seba
  • #2,532
  • Feb 3, 2010 5:14am Feb 3, 2010 5:14am
Quoting kiwiduvet
I locked in 20 pips at 2 mins before the news then the stop got hit after the news,i was temopted to take the 45 odd pips of profit but in case the news was OK i wanted to give the trade a chance to run to the upside whilst locking in some profit tightly to the downside if the data was worse than expected whcih as it turned out the data was worse.

thats just what i am doing after picking it up from various people and my own experience over the course of the past 2-3 years
Thanks Kiwiduvet! Makes total sense to go about it that way, thanks for the tip!
  • #2,533
  • Feb 3, 2010 5:20am Feb 3, 2010 5:20am
Quoting Hova
I've attached my chart.

I was watching the 10:00(GMT+1) candle, price was stalling around my price pivot zone @ 1.60600 and almost forming a PinBar, with the PMI coming up i decided to move my stop to +4% (20 pips) for today.


On the second chart you can see where i got this s/r line from.
Thanks Hova, that sounds very interesting. Do you use daily pivots?

Could you clarify the 4% calculation. I couldn't find 4% of what level you were using...

Thanks!
  • #2,534
  • Feb 3, 2010 5:24am Feb 3, 2010 5:24am
Not bad today, +30 on mine and B/E on Grants. Well done to those who bagged a few pips using Grants, looks like you made the right move.

So for the month i have it as -30 on Grants and +20 on mine.

Lets hope this month picks up for us hey.
Trade the price action, not the cash!!!
  • #2,535
  • Feb 3, 2010 5:39am Feb 3, 2010 5:39am
Quoting sebasound
Thanks Hova, that sounds very interesting. Do you use daily pivots?

Could you clarify the 4% calculation. I couldn't find 4% of what level you were using...

Thanks!
Yeah i use daily pivots along with s/r lines i draw using the last 2-3 days. If you try and watch them, u see this works great

The 4% was only the amount i won today, i risk 3% (3k account) on each trade. sl = 15 pips as grant uses it. so 5 pips = 1% and i got 20 pips today so 4% for me.
Never whishing, always trading.
  • #2,536
  • Feb 3, 2010 6:00am Feb 3, 2010 6:00am
Quoting Hova
Yeah i use daily pivots along with s/r lines i draw using the last 2-3 days. If you try and watch them, u see this works great

The 4% was only the amount i won today, i risk 3% (3k account) on each trade. sl = 15 pips as grant uses it. so 5 pips = 1% and i got 20 pips today so 4% for me.
Excellent, thanks Hova. I'll keep an eye on this pivots and 2-3 Day S/R, nice one!
  • #2,537
  • Feb 3, 2010 6:05am Feb 3, 2010 6:05am
Quoting Scullmeister
Not bad today, +30 on mine and B/E on Grants. Well done to those who bagged a few pips using Grants, looks like you made the right move.

So for the month i have it as -30 on Grants and +20 on mine.

Lets hope this month picks up for us hey.

Hey Scullmeister, nice trade although I am a tad confused. I too use IG and was unsuccessful by 5 pips. What price did you enter LONG on GBP? Is your buffer still at 7 pips? Thanks for your time.
The things which hurt, instruct! - Benjamin Franklin
  • #2,538
  • Feb 3, 2010 6:12am Feb 3, 2010 6:12am
Quoting Scullmeister
Not bad today, +30 on mine...
Hi Scull, I had 23 pips max move with your method today... It was triggered at 1.6045, 8 pips buffer from the top of the box at 1.6037 (it was the highest of the 7:00 candle, ending at 7:14:59). Did I make a mistake or is it a 7 pip difference in quote between IG and Capital Spreads?

Also, do you aim at 30 pips minus spread (28 pips gain) or say 32, so after spread you gained 30? I know it's up to the trader, I'm just interested in how you do it...

Thanks!
  • #2,539
  • Feb 3, 2010 6:14am Feb 3, 2010 6:14am
My 7:30 trade did not reach TP.

Stoc showed divergence and I took reverse.

I now it's not the way to trade this method,but sometimes you have to use your brain.

Better pips tomorrow.

  • #2,540
  • Feb 3, 2010 6:20am Feb 3, 2010 6:20am
Quoting matlobien
My 7:30 trade did not reach TP.

Stoc showed divergence and I took reverse.

I now it's not the way to trade this method,but sometimes you have to use your brain.

Better pips tomorrow.

Good one Matlobien but I was of the understanding that Sculls' method did not use additional indicators other then the time box; am I wrong??
The things which hurt, instruct! - Benjamin Franklin
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