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0400-0700 GMT Breakout Strategy

  • #2,781
  • Feb 28, 2010 3:05am Feb 28, 2010 3:05am
Quoting grant18265
HI all,

so feb is over and finished -1% (risking 1% per trade), not great but not a disaster. overall 2010 is -1% if you include jans BE.

so what to do........

well for me the answer is nothing. since i started live back in Sept 09 this method is +44%, which is still 40% ish better than any bank in the UK would have given me in a year.... lol

if March continues in the same vain then some slight modifications may be needed but i will let March play out first.

also, any breakout strat whether its this one, sculls or the NY version should...
Agree there mate.....
Trade the price action, not the cash!!!
  • #2,782
  • Feb 28, 2010 9:48pm Feb 28, 2010 9:48pm
Hey all - I just want to make sure I'm clear on this strategy:

Please help - I know this is a slow question, but I am new to the forum - thanks for your help and patience in advance.

If I understand correct:

1. Place a horizontal line at the high and low of the range between 4 - 7am GMT.

2. Trade long when the pair breaks out to the upside, and vice versa for the down side.

3. Where do stops go?

Thanks a lot guys - please correct me if I'm not understanding it right!
S
  • #2,783
  • Mar 1, 2010 12:55am Mar 1, 2010 12:55am
So we all know that the Grant method has not been working as well as it was a few months ago. possibly due to the high TP in the low ATR over the last 2 months. I was thinking why not lock in profot as you go.

Just use Grants rules, BE at +25. Then why not go and move to +15/+25 at +50, then that way you guarenteed some pips if it happens to retrace that back far. I've looked into it, but we haven't really been +50 then retrace back to BE enough to make this idea any good yet.

Anyway I thought I would throw it out there and get some feedback, see what you guys think

Josh
  • #2,784
  • Edited 1:07am Mar 1, 2010 12:55am | Edited 1:07am
Long time viewer, first time poster

Low = 1.5143
Short from 1.5138
SL at 1.5178
TP at 1.5108

Done. thanks very much. +30
  • #2,785
  • Mar 1, 2010 3:36am Mar 1, 2010 3:36am
experimenting with takign half position off at +25 pips did that today, left 2nd half to run with stop at brakeven which go hit, so +12.5 pips for march, the days are longer now spring is in the air time for positiveness...

  • #2,786
  • Mar 1, 2010 4:59am Mar 1, 2010 4:59am
Quoting kiwiduvet
experimenting with takign half position off at +25 pips did that today, left 2nd half to run with stop at brakeven which go hit, so +12.5 pips for march, the days are longer now spring is in the air time for positiveness...


I did the same, well im spread betting so took it all out at +25
  • #2,787
  • Mar 1, 2010 7:38am Mar 1, 2010 7:38am
I move SL to +15 at +60 anyway using Grants method, but today moved it at +45ish pips or so, so bagged myself +15.

That'll do, onto tomorrow now.
Trade the price action, not the cash!!!
  • #2,788
  • Mar 2, 2010 2:07am Mar 2, 2010 2:07am
B/E today on Grants, oh well, onto tomorrow guys/gals......
Trade the price action, not the cash!!!
  • #2,789
  • Mar 2, 2010 2:12am Mar 2, 2010 2:12am
mmmmm,

Be on demo account

-15 on live....

NEXT

Grant
  • #2,790
  • Mar 2, 2010 2:24am Mar 2, 2010 2:24am
I took plus 25 again
  • #2,791
  • Mar 2, 2010 7:32am Mar 2, 2010 7:32am
Quoting wawarulez
I took plus 25 again
and me. but half position 25 pisp on half = 12.5 pips in reality and b/e other half
  • #2,792
  • Mar 2, 2010 8:47am Mar 2, 2010 8:47am
Hi everyone:

I found some improvement for this strategy!
All time periods are at GMT 0 (London time)

What I did, I took a period from 4 till 8:30 by london!
Because it reduces amount of fake breakouts and therefore reduces level of stop loses.

The reason why I did it is because at 8:30 come out news in London. But still I open orders just one extra candle appears at M15 chart: (8:45)

Also I don't open orders when distance between high and low is more than 99pips. (It was advice in the beginning of this thread by some trader)

So, I'm waiting comments, what do you think about it!!
  • #2,793
  • Mar 2, 2010 9:55am Mar 2, 2010 9:55am
i follow grant method, but my SL is always 30, TP is always 40
  • #2,794
  • Mar 2, 2010 10:08am Mar 2, 2010 10:08am
Quoting Phant0m
Hi everyone:

I found some improvement for this strategy!
All time periods are at GMT...
Phantom - Pretty much every significant UK economic announcement actually comes out at 09:30 UK time (GMT or DST) rather than 08:30.
  • #2,795
  • Mar 3, 2010 2:29am Mar 3, 2010 2:29am
No trade today, order pending cancelled @ 0830 GMT.

Onto tomorrow now.
Trade the price action, not the cash!!!
  • #2,796
  • Mar 3, 2010 3:50am Mar 3, 2010 3:50am
Quoting HammerNail
Phantom - Pretty much every significant UK economic announcement actually comes out at 09:30 UK time (GMT or DST) rather than 08:30.
Yap sorry!My bad! - 9:30 GMT 0!
I just get so confused between those time zones:

So i Take a interval from 5 till 8:30
And set pending orders after 8:45
And therefore economical news come out at 9:30!

Sorry guys for mistake!
  • #2,797
  • Mar 3, 2010 3:50am Mar 3, 2010 3:50am
Quoting Scullmeister
No trade today, order pending cancelled @ 0830 GMT.

Onto tomorrow now.
Why no trade today?? Could you explain?
  • #2,798
  • Mar 3, 2010 4:01am Mar 3, 2010 4:01am
Quoting Phant0m
Why no trade today?? Could you explain?
Didn't activate on or before 0830 GMT, so order cancelled mate.
Trade the price action, not the cash!!!
  • #2,799
  • Mar 3, 2010 4:10am Mar 3, 2010 4:10am
Quoting Scullmeister
Didn't activate on or before 0830 GMT, so order cancelled mate.
But how it can be that your order didn't opened! Which interval you take?
If 4-7 GMT then you would have gone short!

So which period you take than??
  • #2,800
  • Mar 3, 2010 6:42am Mar 3, 2010 6:42am
Quoting Scullmeister
No trade today, order pending cancelled @ 0830 GMT.

Onto tomorrow now.
Do u officially trade grant's method now and not yours?
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