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

  • #2,581
  • Feb 5, 2010 1:51am Feb 5, 2010 1:51am
Quoting zaba1
3 losses and 1 breakeven this week with Grant
agreed ?

Bad luck as its very rare ....


zaba1

yes zaba thats what i have..
  • #2,582
  • Feb 5, 2010 1:52am Feb 5, 2010 1:52am
Quoting WildWood
Matlobien, I am with you on that, NFP day, I am not trading today.

Grant, do you normally take your trade on NFP day?
WW

i will trade every day if the set up lines up correctly..

Grant
  • #2,583
  • Feb 5, 2010 2:09am Feb 5, 2010 2:09am
Frustrating stuff hey, just got to take it on the chin. +30 on my method, so little bit of consolation there.

Anyway have a great weekend, cya Mon.
Trade the price action, not the cash!!!
  • #2,584
  • Feb 5, 2010 2:14am Feb 5, 2010 2:14am
this strategy is good..yesterday i tried this method before london open but i was lost because i make a mistake in time setup..but today i gained 45 pips in 2 min!!..although i don't know which method i used,wheater grant or scull,but i'm really want to say thanks to both off you guys
  • #2,585
  • Feb 5, 2010 2:22am Feb 5, 2010 2:22am
Great short today! Have a good weekend all.
The things which hurt, instruct! - Benjamin Franklin
  • #2,586
  • Feb 6, 2010 5:06am Feb 6, 2010 5:06am
Quoting grant18265
tamersaid,

attached is all you need....

cheers

Grant
1 - Do you have any statistics on this strategy?
2 - When you said "If price is above yellow breakout" did you meant the ema
or the actual closing candle?
  • #2,587
  • Feb 7, 2010 3:07pm Feb 7, 2010 3:07pm
Being on the west coast I trade the E/J breakout (with different time set) as I can place my pending trades earlier and get to bed. I learned a long time ago an account killer is trying to get in at the beginning and then riding it for bigger profits. I go for my 30 pips, and then I'm out. Scull's method of going after 30 pips only is right on and has worked the best of anything for me. Yes, there are times the method would have netted 60 or 90 pips, but more times than not (for me) it hits a high % for 30 pips, and $300 + a day for 10 minutes work ain't bad considering.

Different buffer amounts will always be a joke (for non-believers you'll learn in time)
  • #2,588
  • Feb 8, 2010 12:11am Feb 8, 2010 12:11am
Quoting Ohfx
1 - Do you have any statistics on this strategy?
2 - When you said "If price is above yellow breakout" did you meant the ema
or the actual closing candle?

1. attached are results from last year and this year thus far. results highlighted in yellow are from my live account. jan - august are an EA backtest manually confirmed.

i finished trading earlier than most in Dec hence the bad result....

2. it should read ema, thanks for pointing out the glaring mistake.

Grant
Attached File(s)
File Type: xls Breakout System 2009.xls   31 KB | 593 downloads
File Type: xls Breakout System 2010 Comparison.xls   30 KB | 550 downloads
  • #2,589
  • Feb 8, 2010 12:43am Feb 8, 2010 12:43am
Hi Grant,
Do you mind sharing the EA so that i can do some back testing?

One question with the SL, Why do you set it at 15? Did you try a bigger SL like 20 or 25?

Thanks,
Gyfu
  • #2,590
  • Feb 8, 2010 12:51am Feb 8, 2010 12:51am
Quoting gyfu
Hi Grant,
Do you mind sharing the EA so that i can do some back testing?

One question with the SL, Why do you set it at 15? Did you try a bigger SL like 20 or 25?

Thanks,
Gyfu
Gyfu,

the EA can be found if you click on the paper clip in the top right corner of this page with all the attachments.

i backtested various SL's from 10 up to 50 and 15 gave the best risk reward returns. i know its tight but with 15 the RR is 5:1, if you even use 20 then the RR is 3.66:1

cheers

Grant
  • #2,591
  • Feb 8, 2010 1:25am Feb 8, 2010 1:25am
Good to see some volatility back, shame about the B.E
  • #2,592
  • Feb 8, 2010 2:51am Feb 8, 2010 2:51am
could anyone give an explanation to me what is the difference between grant & scull method?..sorry for asking..i tried to find the differance in this thread but it's to hard to find
  • #2,593
  • Feb 8, 2010 3:06am Feb 8, 2010 3:06am
Grants is a 4-6 box, 15 SL, BE at 25, TP 75. Long if ema is below box or short id ema is above box, if its in box no trade.

Sculls is a 5-7.15 box, 40 SL, TP30. dont think he uses ema... not sure on tht
  • #2,594
  • Feb 8, 2010 3:45am Feb 8, 2010 3:45am
Quoting grant18265
Gyfu,

the EA can be found if you click on the paper clip in the top right corner of this page with all the attachments.

i backtested various SL's from 10 up to 50 and 15 gave the best risk reward returns. i know its tight but with 15 the RR is 5:1, if you even use 20 then the RR is 3.66:1

cheers

Grant
Thanks Grant.. I have to thank you for all the hard work that you have already done. I am into breakout strategies and hoping that this one is a good breakout strategy to use for a long time.

I guess, now i don't need to do the testing since you have thoroughly done it..
  • #2,595
  • Feb 8, 2010 3:46am Feb 8, 2010 3:46am
Quoting wawarulez
Grants is a 4-6 box, 15 SL, BE at 25, TP 75. Long if ema is below box or short id ema is above box, if its in box no trade.

Sculls is a 5-7.15 box, 40 SL, TP30. dont think he uses ema... not sure on tht
thanks wawarulez
  • #2,596
  • Feb 8, 2010 6:29am Feb 8, 2010 6:29am
Quoting wawarulez
Good to see some volatility back, shame about the B.E

what breakeven, today would be a -15 stop loss. I've confirmed with 3 feeds.
  • #2,597
  • Feb 8, 2010 6:33am Feb 8, 2010 6:33am
Quoting robl45
what breakeven, today would be a -15 stop loss. I've confirmed with 3 feeds.

Rob,

i have Be as well on Alpari UK

entry @ 1.5577 then headed straight down to the low of the day, 1.5532.

so plenty of room for the BE move...

cheers

Grant
  • #2,598
  • Feb 8, 2010 6:53am Feb 8, 2010 6:53am
Quoting robl45
what breakeven, today would be a -15 stop loss. I've confirmed with 3 feeds.

Yeh i was around plus 40 pips at one point
  • #2,599
  • Edited 9:25am Feb 8, 2010 8:45am | Edited 9:25am
I checked at work, same thing would have happened. I think you guys are using a different bar than me, if you use 4-6 on metatrader, this would not come out like this.

what was the entry you guys got for today? i assume you using 4-6 9 bars right? you'd have to be looking at the bar before to not get stopped out.

EDIT: I see above what you stated for Entry grant. so if you are doing 4-6, then you are actually using 4-5:45 bar on metatrader? so 8 bars total?
  • #2,600
  • Edited 10:00am Feb 8, 2010 9:18am | Edited 10:00am
hi guys

I'm really new to trading and to forex, and haven't really got to grips with technical strategies.

I'm clearly not being successful with my current methods and having spent most of the weekend reading your forum and trying to digest the info, i'm pretty lost.

Is there anywhere i can get the full story so i can get up to speed with this strategy? and Grants and Scullmeisters method or versions too?.

do i take it tat you guys all use Metatrader as a chart platform? if so which version and from who? Are you trading through it ?

Are any of you placing your trades with spreadbetters like IG index?

i would realy appreciate some guidance

many thanks
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