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

  • #2,801
  • Mar 3, 2010 7:54am Mar 3, 2010 7:54am
most now look at grants breakout at 4-6 gmt am sure its on page one

Quoting Phant0m
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??
"The person who knows that enough is enough, will always have enough". .
  • #2,802
  • Mar 3, 2010 9:18am Mar 3, 2010 9:18am
Quoting Phant0m
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??
It's 4 - 6
Trade the price action, not the cash!!!
  • #2,803
  • Mar 3, 2010 12:52pm Mar 3, 2010 12:52pm
Quoting Scullmeister
It's 4 - 6
You are trading on cable (GBP/USD)?
  • #2,804
  • Mar 3, 2010 1:51pm Mar 3, 2010 1:51pm
Quoting Phant0m
You are trading on cable (GBP/USD)?
Yeah phantom, Cable only. The box is from 4 to 5:59:59, eight 15M candles. 7 pip buffer for long, 5 pip buffer for short. Trade only in the direction of the EMA 85: if the EMA is above the box only take shorts, if the EMA is below the box, only take longs. If the EMA is in the box at any time between 4 and 6 do not take any trades for the day. All orders cancelled at 8:30 if not triggered. Move stop to BE at 25, take profits at 75.

Some traders are using some variations, e.g. Scull moves stop to 15 at 60. Depending on the March results, people here might work on some modifications to the current method, but for now this is it. Good luck.
  • #2,805
  • Edited Mar 4, 2010 1:16am Mar 3, 2010 4:53pm | Edited Mar 4, 2010 1:16am
Quoting sebafx
Yeah phantom, Cable only. The box is from 4 to 5:59:59, eight 15M candles. 7 pip buffer for long, 5 pip buffer for short. Trade only in the direction of the EMA 85: .................
This sounds interesting! Could you share approximately number of stop losses compared to take profits! In other words what is the probability of take profits using this strategy?
  • #2,806
  • Mar 4, 2010 1:39am Mar 4, 2010 1:39am
Quoting Phant0m
This sounds interesting! Could you share approximately number of stop losses compared to take profits! In other words what is the probability of take profits using this strategy?
Please check this thread's attachments. I also recommend reading the rules in a word document written by the author of this variation, Grant.

It'd be good if you can read the thread too. It takes time but it's worth it.
  • #2,807
  • Mar 4, 2010 1:57am Mar 4, 2010 1:57am
low 1.5063

short at 1.5058
SL at 1.5098
TP at 1.5028

+30 today

(missed Tuesday and Wednesday - out of town for work. both +30?)

thanks to all contributors.
  • #2,808
  • Mar 4, 2010 2:04am Mar 4, 2010 2:04am
Many seem to be using lower TP's in this market we're experiencing now? Lower TP's have been profitable in the last couple of weeks, but some of the big strength in this system lies in the RR, and moving this to 2:1 instead to 5:1 is a fundamental change.

What are your inputs?
  • #2,809
  • Mar 4, 2010 2:21am Mar 4, 2010 2:21am
Quoting Phant0m
This sounds interesting! Could you share approximately number of stop losses compared to take profits! In other words what is the probability of take profits using this strategy?
Phantom,

firstly apologies, this will seem like i am picking on you, i'm not, you are just the last person to post questions above.

as much as i dont mind helping new traders both to this thread and forex in general, it annoys me that they ask questions that imho mean that none of the thread has been read by that person..

in post number 1 the original method is described as well as links provided to posts that explain the 2 other strats used here....

also there are several spread sheets attached to varying posts that have the answers to your question above....

please go and read the thread, the answers are all in here somewhere..

cheers

Grant

ps. no breakout today on the grant method, ema was in the box.
  • #2,810
  • Mar 4, 2010 2:25am Mar 4, 2010 2:25am
Quoting Archie
Many seem to be using lower TP's in this market we're experiencing now? Lower TP's have been profitable in the last couple of weeks, but some of the big strength in this system lies in the RR, and moving this to 2:1 instead to 5:1 is a fundamental change.

What are your inputs?
Archie,

i'm leaving it as is for March then i'll have a look at it..

cheers

Grant
  • #2,811
  • Mar 4, 2010 3:29am Mar 4, 2010 3:29am
Quoting grant18265
Phantom,

firstly apologies, this will seem like i am picking on you, i'm not, you are just the last person to post questions above.

as much as i dont mind helping new traders both to this thread and forex in general, it annoys me that they ask questions that imho mean that none of the thread has been read by that person..

in post number 1 the original method is described as well as links provided to posts that explain the 2 other strats used here....

also there are several spread sheets attached to varying posts that have the answers...
Grant what currency pair is this again and what are the times.........................................? Only messing!!!

Someone asked me earlier in the thread if i just trade Grants method for now and yes i have stopped trading mine so i can concentrate on Grants and my own scalping strategy. Two strategies is enough for me across 3 pairs.

Good luck
Trade the price action, not the cash!!!
  • #2,812
  • Mar 4, 2010 4:32pm Mar 4, 2010 4:32pm
Quoting grant18265
Phantom,

firstly apologies, this will seem like i am picking on you, i'm not, you are just the last person to post questions ............... .
Sorry guys! I just forgot about those two links on the beginning of the thread! I have read this thread month after it was posted! So really just forgot about those variations!

Sorry guys!
  • #2,813
  • Mar 4, 2010 4:43pm Mar 4, 2010 4:43pm
Hi guys, new to this site but am into trading breakouts, so this thread grabbed my attention! I have read most of the thread and find it very interesting. I was wondering why you set your charts at 6am instead of 7 or 8 as europe opens at 7 and London opens at 8 and the last b/o system I used was set at 7am using the high and low from the 00-6am 1hr bars. This system was highly successful up until mid December but has struggled since, maybe -10 to-20% w/l ratio. It seems most b/o systems are struggling so far this year as were not getting a clean b/o, too many fakeouts. Do you guys think the markets will return to past form and favour b/os or should we look elsewhere for pips!
PS any tips on which pairs are nice to trade in the evenings,(7pm-11pm GMT)
  • #2,814
  • Mar 5, 2010 4:59am Mar 5, 2010 4:59am
No trade today on Grants method, so i make it +15 for the month or B/E if trading it the official way. May be different for others depending on EA's, brokers etc etc.

Have a good weekend.....
Trade the price action, not the cash!!!
  • #2,815
  • Mar 5, 2010 1:22pm Mar 5, 2010 1:22pm
Quoting Scullmeister
No trade today on Grants method, so i make it +15 for the month or B/E if trading it the official way. May be different for others depending on EA's, brokers etc etc.

Have a good weekend.....

Hey scull i am similar numbers +25 for the motnh after two half postiosn takjen at +25, so 12.5 each x 2

the big data out the way now lets hope for soem trending action next week
  • #2,816
  • Mar 8, 2010 3:26am Mar 8, 2010 3:26am
-15 on Grant today ...
not much luck recently ....
zaba1
  • #2,817
  • Mar 8, 2010 3:35am Mar 8, 2010 3:35am
Yep, same here.

B/E for the month for me, i think -15 if trading it as per the rules.
Trade the price action, not the cash!!!
  • #2,818
  • Mar 9, 2010 3:15am Mar 9, 2010 3:15am
I'm monitoring this strategy much more closely now and trying to get everything a lot tighter, so managed to get my SL to B/E, so B/E for me this morning which makes me B/E for the month, but i think if trading this mechanically it was a -15, so -30 for the month.

Good luck with the rest of the days trading....
Trade the price action, not the cash!!!
  • #2,819
  • Mar 10, 2010 1:14am Mar 10, 2010 1:14am
Quoting Scullmeister
I'm monitoring this strategy much more closely now and trying to get everything a lot tighter, so managed to get my SL to B/E, so B/E for me this morning which makes me B/E for the month, but i think if trading this mechanically it was a -15, so -30 for the month.

Good luck with the rest of the days trading....
+25 banked today half position and stops at b/e so a more classic breakout this morning
  • #2,820
  • Mar 15, 2010 7:39pm Mar 15, 2010 7:39pm
Anyone still trading this system?? And if so, which variation?
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