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0400-0700 GMT Breakout Strategy

  • #2,661
  • Feb 14, 2010 9:43am Feb 14, 2010 9:43am
Quoting dazzdude
Hi Indy,

Once again, thanks for the back testing you did for me. Today, I applied the same analysis as a filter to my own London breakout system. I tried it two different ways and I was surprised the find that it did not help mine either. Oh well... that happens.

[color=black][font=Verdana]I ran a quick manual back test of my London breakout system for Jan-2010 (by eye so there could be errors). I did not take into account news, spread, slippage, etc, so it's...

Hi Darren,

I would gladly help you with some backtesting of your system. Just send me a PM with some more info and we'll be on our way.


Regards

Archie
  • #2,662
  • Feb 14, 2010 4:04pm Feb 14, 2010 4:04pm
Folks,

This is an off topic post (I mention this so not to derail this thread - no replies needs.) If you are interested and scalping the E/U, consider the following. http://articles.mql4.com/894. (in the last 200 days, one stop loss). If someone looks at this and comes up with something special, please PM me with your results.

Ps. If off topic posts are not wanted of offend, I'm sorry (let me know and I will not do this again).

Regards,
Darren.
  • #2,663
  • Feb 15, 2010 1:01am Feb 15, 2010 1:01am
Folks,

I have three people that are going to do some back testing on my London breakout, that's enough (except if grant and scull would like a look due to their significant contributions to this thread). If it's looking good, it will be shared freely with all. It will not be mentioned again to keep this thread on track.

Regards,
Darren.
  • #2,664
  • Edited 4:18am Feb 15, 2010 3:40am | Edited 4:18am
Quoting grant18265
Hi

i dont mind at all.

intraday/medium term i trade regular no frills macd divergence on the 15 min, 1hr and 4 hr charts, scalping wise i have 2 commercial systems that i have taken certain pieces of and made a scalper strat that trades off the 5 min...

atm my goal is 10% per month on each as i have a full time job (shift work though lol) and more often than not i achieve these figures risking 0.5% per trade.

i'm not sure if i can mention the commercial systems openly on here so if someone can confirm i can i will post the names.....

Hi Grant,

Thank you for your contribution with your superb system. I wonder why you chose to use 4-6 UK time instead of 4-7 or 5-7? Have you done any tests regarding this?


Regards

Archie
  • #2,665
  • Feb 15, 2010 11:18am Feb 15, 2010 11:18am
Hi,

Have anyone tried this with other currency pairs? I am testing it on EURUSD and EURJPY, but haven't had any luck with good settings yet.

Archie
  • #2,666
  • Feb 15, 2010 12:10pm Feb 15, 2010 12:10pm
Quoting Archie
Hi,

Have anyone tried this with other currency pairs? I am testing it on EURUSD and EURJPY, but haven't had any luck with good settings yet.

Archie
Hi Archie,

I have tried it on Eur / Jpy and Usd / Cad. Here are the results:

-----------------Eur / Jpy------------Usd / Cad

October-------- + 5.29 --------------- + 6.73
November------ + 10.15 -------------- + 10.73
December------ + 5.29 --------------- + 1.93 (from 1/12 to 18/12 only)
January-------- + 3.29 --------------- (- 4.00)

1 = amount that you risk per trade

The break out rules are different though from those being used here
  • #2,667
  • Feb 15, 2010 12:22pm Feb 15, 2010 12:22pm
Quoting Indyfx
Hi Archie,

I have tried it on Eur / Jpy and Usd / Cad. Here are the results:

-----------------Eur / Jpy------------Usd / Cad

October-------- + 5.29 --------------- + 6.73
November------ + 10.15 -------------- + 10.73
December------ + 5.29 --------------- + 1.93 (from 1/12 to 18/12 only)
January-------- + 3.29 --------------- (- 4.00)

1 = amount that you risk per trade

The break out rules are different though from those being used here
Hi Indy,

The results seem good. What breakout rules are you using for those pairs?


Regards

Archie
  • #2,668
  • Feb 15, 2010 1:33pm Feb 15, 2010 1:33pm
Quoting Archie
Hi Indy,

The results seem good. What breakout rules are you using for those pairs?


Regards

Archie
Eur / Jpy

a) Box and Direction:

04.00am - 06.30am GMT box using two slope indicators 200, 3, 0 and 100, 3, 0 where both have to be pointing in the same direction when the box finishes and you would seek to enter in that direction. Both applied to a 15 min chart

b) Entry:

Once box broken in corection direction by 1 pip enter 5 pips (including spread) better than the high or low of the box. So if the top of the box was 122.35 at 06.30am and you were looking to go long the price would have to reach 122.36 and you would enter at 122.30

c) Other rules:

Stop 23 pips (including spread)

Move to breakeven after 37 pips (including spread)

Target 56 pips (including spread)

No trade after 09.20am GMT

My spread is 3 pips for this pair

Usd / Cad

a) Box and Direction:

05.00am - 8.00am GMT box using one slope indicator 40, 3, 0. Entering in direction of slope at the end of the box. Applied to a 15 min chart

b) Entry:

Once box broken in corection direction by 3 pips enter 8 pips (including spread) better than the high or low of the box. So if the top of the box was 1.0508 at 08.00am and you were looking to go long the price would have to reach 1.0511 and you would enter at 1.0500

c) Other rules:

Stop 15 pips (including spread)

Move to breakeven after 22 pips (including spread)

Target 44 pips (including spread)

No trade after 10.30am GMT

My spread is 4 pips for this pair

d) No trade if:

The price moves more than 18 pips above or below the box without retracing back for an entry

If the 85 EMA and 160, 3, 0 and 80, 3, 0 are all pointing to a trade in the opposite direction. So say the 40 slope is pointing up but the 160 and 80 slopes are pointing down and the 85 EMA is above the high of the box, no trade

Sorry if it is a bit more complicated that the standard set up's but these were the best parameters that I could find

Feb results so far Eur / Jpy (-2.00) Usd / Cad (- 0.07)
  • #2,669
  • Feb 15, 2010 1:50pm Feb 15, 2010 1:50pm
Quoting Indyfx
Eur / Jpy

a) Box and Direction:

04.00am - 06.30am GMT box using two slope indicators 200, 3,...

Indy,

Thank you very much for the thorough explanation of your strategy, and thanks for sharing. I will put these pairs to the test as soon as I get some time. I will let you know my results.


Regards

Archie
  • #2,670
  • Feb 15, 2010 4:27pm Feb 15, 2010 4:27pm
Just subscribing to the thread...

Made my 1st. trade with Grant's and Scull's variations... No trade for Grant as EMA was in the box and 30 pips for Scull.

Great way to start a Monday!
  • #2,671
  • Feb 16, 2010 3:19am Feb 16, 2010 3:19am
Another frustrating trade on Grants strategy today, a -15 unfortunately. That puts me on -75 for the month. Is this going to be its first losing month - we will see. But still got 9 trading days left, so fingers crossed we can pull something back.

I haven't been trading mine this month, but i think it's in profit, so not all bad news.

It seems we are going through a difficult patch as far as these 2 strategies are concerned, but we must stick to with it, because a losing month or even two losing months is not a reason to stop trading.

Grants was about B/E last month so no probs there and mine was -90 using my platform. This month Grants is down, -75 and i think mine is up, so putting it all into perspective and bearing in mind we have 9 days left this month, it's not the end of the world.

It seems a few members are coming up with some decent BO settings, so would be good to see them in here once testing is complete.

Cheers guys - see you in a bit.
Trade the price action, not the cash!!!
  • #2,672
  • Feb 16, 2010 4:15am Feb 16, 2010 4:15am
Quoting Scullmeister
Another frustrating trade on Grants strategy today, a -15 unfortunately. That puts me on -75 for the month. Is this going to be its first losing month - we will see. But still got 9 trading days left, so fingers crossed we can pull something back.

I haven't been trading mine this month, but i think it's in profit, so not all bad news.

It seems we are going through a difficult patch as far as these 2 strategies are concerned, but we must stick to with it, because a losing month or even two losing months is not a reason to stop trading.

Grants...

One nice trade in these 9 days and you're BE. thats the good thing about grant.

Just take a look at the 1h gu chart and youll se we've been on the top of the channel this morning, leading into a loss 4 me too.

But no problem at all, if you got a good strategy, you simply have to stick 2 the script and trade as mechanical as possible.
Never whishing, always trading.
  • #2,673
  • Edited 8:16am Feb 16, 2010 8:09am | Edited 8:16am
-20 for the month with Scullmeisters system with todays still open and close to target.

Bingo, + 30 meaning +10 for the month, better than a kick in the nuts.
  • #2,674
  • Feb 16, 2010 8:19am Feb 16, 2010 8:19am
Agreed. Some one made a post in this thread (I think it was here) that people will abandon a good system when it goes through a draw down.

Often after the draw down comes excellent results (just after people stop using the system). It's obvious that the system is sound. Stay and track as there could be some great months ahead.

ALL systems have draw downs. Smile, be patient (grrr.... my personal down fall) and keep trading.

Regards,
Darren.
  • #2,675
  • Feb 16, 2010 10:16am Feb 16, 2010 10:16am
Grant hit the S/L for -15 pips

Scull almost triggered the long but then quickly dropped to trigger the short and bagged my 30 pips

Hope everyone had the same result!


Cheers!
  • #2,676
  • Feb 16, 2010 10:30am Feb 16, 2010 10:30am
Quoting dazzdude
Agreed. Some one made a post in this thread (I think it was here) that people will abandon a good system when it goes through a draw down.

Often after the draw down comes excellent results (just after people stop using the system). It's obvious that the system is sound. Stay and track as there could be some great months ahead.

ALL systems have draw downs. Smile, be patient (grrr.... my personal down fall) and keep trading.

Regards,
Darren.
Totally agree Darren.
People start loosing and then get creative by looking at other ways to improve this system by adding other indicators etc.
Besides its a breakout system, no MACD, RSI is going to tell you which way its going, at least the 85EMA on a 15 min gives you some direction.
Great work on this Grant
  • #2,677
  • Feb 16, 2010 11:32am Feb 16, 2010 11:32am
Hi,

Have anyone tested Grant's system with bigger buffers, like 10 pips. I feel that 5 pips is too narrow sometimes.

Also, perhaps using the SL including the spread, as 15 pips is quite small if you have to take let's say 4 pips in spread into account.


Archie
  • #2,678
  • Feb 16, 2010 12:06pm Feb 16, 2010 12:06pm
Scull,

u still using 7 pips + spread long, 7 without spread for a SELL?

Regards,
Darren.
  • #2,679
  • Feb 16, 2010 12:08pm Feb 16, 2010 12:08pm
off topic sorry guys

can anyone advice/help on this

am looking for a indicator

E M A with high/low period also with choice of colour

as i use ibfx they do not have this
they do have a MA but no high/low options
"The person who knows that enough is enough, will always have enough". .
  • #2,680
  • Feb 16, 2010 12:32pm Feb 16, 2010 12:32pm
The Scull Box
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