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Attachments: 7am-9am Big Dog USD Breakout Strategy
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7am-9am Big Dog USD Breakout Strategy

  • #2,441
  • Mar 19, 2010 1:44pm Mar 19, 2010 1:44pm
Quoting slc12312
Well, today was one of those days, good thing they don't happen all that often.

Bottom got triggered then reversed for a loss of -30 pips. Then of course, price ran to the top of the box and triggered the long. But then as it goes sometimes, price reversed again and stopped me out a second time.

Cant say that this happens often, but it does. Normally I close the opposite order from the one that gets triggered just so this does not happen. I didn't this time, oh well.

for the day, Wednesday:
-55
Week:
+1
Month:
+230
turns out after I posted this on Wednesday, I reentered on the short side and P/A went in the right direction this time.

friday:
+20
Week:
+188
Month:
+418

Total Trades:35
Short Positions (won %): 23 (78.26%) used to be around 84%
Long Positions (won %): 12 (75.00%)
Profit Trades (% of total): 27 (77.14%) Not bad for a simple system
Loss trades (% of total): 8 (22.86%) Would like to decrease this number to around 15% or less by doing a better job on trend determination.
Largest profit trade: 220.40
loss trade: -163.00 risked too much, over 1-2% equity

Average profit trade: 46.39 I will try to increase this number
loss trade: -53.40 and decrease this one.
Maximum consecutive wins ($):12 (416.90)
consecutive losses ($):3 (-181.40)
Maximal consecutive profit (count):457.10 (4)
consecutive loss (count):-181.40 (3)
Average consecutive wins:5consecutive losses:2

Good luck to you all who are using this system.
  • #2,442
  • Mar 19, 2010 3:44pm Mar 19, 2010 3:44pm
thanks guys for your input. I have been trading a similar strategy but in the morning, 5-7 am (+0GTM, London) and its been working fine, net 87 pips this week.
but i would like to give this a try, at the us open. just a question, do you guys place a buy and sell order even if the range between 2-4 (ny time) is wide? also, i'm guessing you place the orders at 4 right? after the box is complete?

appreciate any replies. new to forex factory and loving it! so much info around and experienced traders, its an inspiration.
cheers
t
  • #2,443
  • Mar 20, 2010 2:14am Mar 20, 2010 2:14am
Quoting tavaresneto
thanks guys for your input. I have been trading a similar strategy but in the morning, 5-7 am (+0GTM, London) and its been working fine, net 87 pips this week.
but i would like to give this a try, at the us open. just a question, do you guys place a buy and sell order even if the range between 2-4 (ny time) is wide? also, i'm guessing you place the orders at 4 right? after the box is complete?

appreciate any replies. new to forex factory and loving it! so much info around and experienced traders, its an inspiration.
cheers
t
87 pips in a week is great! Why switch? This system is supposed to be traded 7am-9am NY time. If you trade it 2-4 EST (NY time) you will not get much action if any as the markets are closed. I personally trade at 8-10 NY time because it fits my schedule, most trade as stated in the rules and do okay (I think . . . and I know forex_fan does well with it)

When I trade I start looking at the charts about 15 minutes before the box is complete. During this time, I flip through the charts from daily, 4hr, 1hr, and the 15m looking for the short or long term trend. If it seems strong, i enter then on either the long or short side of the box. if no trend is obvious, I'll place both pending long and short (top and bottom of the box). I don't pay too much attention regarding the box size because PA will move one way or the other, after all, the box is just a short snapshot in the day. I will close out my positions usually within 1-2 hours of entry because at this time of the New York session, price will retrace and give up some of the gains . . . if not all of the gains. I aim for 10-20 pips a day, and of course, the more the better.

Hope this helps. Feel free to ask any more questions if you have them, or PM me.
  • #2,444
  • Mar 20, 2010 5:37am Mar 20, 2010 5:37am
hi slc12312.
Great results.
I was wondering could you tell me
how long have u been testing this method?
  • #2,445
  • Mar 20, 2010 1:31pm Mar 20, 2010 1:31pm
Quoting slc12312
87 pips in a week is great! Why switch? This system is supposed to be traded 7am-9am NY time. If you trade it 2-4 EST (NY time) you will not get much action if any as the markets are closed. I personally trade at 8-10 NY time because it fits my schedule, most trade as stated in the rules and do okay (I think . . . and I know forex_fan does well with it)

When I trade I start looking at the charts about 15 minutes before the box is complete. During this time, I flip through the charts from daily, 4hr, 1hr, and the 15m looking for the short or long...

hey thanks for that. I am not actually switching systems, i'll try to use both i think. this strategy seems pretty solid and i see a lot of potential. which pair do you think it works best with?
im only doing cable at the moment, i thought i'd focus on one pair and try to trade it really well. so, do you trade only one pair or trade quite a few? also, have you been trading this system alone?
i've done forex before but unsuccessfully, have been doing alright in equities but wanted to try again with forex. My target is 50 pips/day but im trying to get more comfortable with a system and increse my stake and decrease the target a bit.

thank you again,
t
  • #2,446
  • Mar 20, 2010 1:51pm Mar 20, 2010 1:51pm
Quoting Seann303$$
hi slc12312.
Great results.
I was wondering could you tell me
how long have u been testing this method?
Two months, Monday thru Friday, 8-10am EST. I have not had a losing week yet. I trade pretty much only eur/usd. Risk 1-2% on each trade.
  • #2,447
  • Mar 21, 2010 10:45pm Mar 21, 2010 10:45pm
Hi'

Can anyone help noobie here?

I'm abit confused for the time setting, I'm using Prime4x MT4(GMT+3)
what time is it my MT4 for 07:00-09:00 New York time?

Thank's alot
  • #2,448
  • Mar 22, 2010 6:40am Mar 22, 2010 6:40am
Hi tradeforgood

it's 14:00-16:00 at GMT +3

good luck
  • #2,449
  • Mar 22, 2010 8:46am Mar 22, 2010 8:46am
@Sean

Thank's a lot
  • #2,450
  • Mar 22, 2010 9:13am Mar 22, 2010 9:13am
Hi'

for how many pips away from the 7-9 box, is this strategy still valid
(in M15 time frame)?

Thank You
  • #2,451
  • Mar 22, 2010 10:24am Mar 22, 2010 10:24am
Hello Traders,I thought it was a break of the h/l of the box ?
  • #2,452
  • Mar 22, 2010 11:23am Mar 22, 2010 11:23am
Quoting monikroc
Hello Traders,I thought it was a break of the h/l of the box ?


This is correct
  • #2,453
  • Mar 22, 2010 4:30pm Mar 22, 2010 4:30pm
I just got confused about time zones! I was trading by using gmt 0 london time from 14-16. But then i thought that it cant be in New York 7-9 am! And guess what?! It isn't.
There is usually 5 hours differences between New York and London. If both cities are on daytime saving clock, then 7 AM in New York (EDT) will be 12 PM in London (BST)?

So maybe what are the real time frames?? =)
  • #2,454
  • Mar 22, 2010 5:44pm Mar 22, 2010 5:44pm
Go to Qlock.com, download free software, open two clocks, set one to GMT and one to New York, right click on the icon in system tray and enable "always on top", right click on each of the clocks and set the skin to small, and "viola", you are set for life!
  • #2,455
  • Mar 22, 2010 7:11pm Mar 22, 2010 7:11pm
Quoting slc12312
Two months, Monday thru Friday, 8-10am EST. I have not had a losing week yet. I trade pretty much only eur/usd. Risk 1-2% on each trade.
Hi slc12312..

Do you use any other rules/signals other than the one mentioned in post#1 apart from using a different time (8-10AM EST)

Thanks
  • #2,456
  • Mar 22, 2010 11:20pm Mar 22, 2010 11:20pm
Nice trade today for +49
Attached Image (click to enlarge)
Click to Enlarge Name: fx1.gif Size: 20 KB
  • #2,457
  • Mar 23, 2010 12:06am Mar 23, 2010 12:06am
Quoting Ashish_Ampl
Hi slc12312..

Do you use any other rules/signals other than the one mentioned in post#1 apart from using a different time (8-10AM EST)

Thanks
No, all I do is determine the trend then place an order at the side (top or bottom) that is going to be hit. I do use stochastics and a bunch of moving averages. People don't like my charts because they look cluttered, but for me, thay work. Besides i adapted them to this strategy.
  • #2,458
  • Mar 23, 2010 12:12am Mar 23, 2010 12:12am
Quoting Phant0m
I just got confused about time zones! I was trading by using gmt 0 london time from 14-16. But then i thought that it cant be in New York 7-9 am! And guess what?! It isn't.
There is usually 5 hours differences between New York and London. If both cities are on daytime saving clock, then 7 AM in New York (EDT) will be 12 PM in London (BST)?

So maybe what are the real time frames?? =)
Just go online, or if you have an ipod or smart phone with a world clock, Look up what time it is in New York in relation to where you are. It is as easy as that. Trade 7am-9am EST (New York time). My chart times, broker times don't match perfectly either. I just know when it is 7am-9am EST and that is the time I pretty much use. You don't have to worry about it, it will confuse you more than anything else.
  • #2,459
  • Mar 23, 2010 12:16am Mar 23, 2010 12:16am
Quoting tradeforgood
Hi'

for how many pips away from the 7-9 box, is this strategy still valid
(in M15 time frame)?

Thank You
I use a 3 pip buffer on my box on the 15m TF. This work well "most" of the time for me.
  • #2,460
  • Mar 23, 2010 12:21am Mar 23, 2010 12:21am
Quoting monikroc
Hello Traders,I thought it was a break of the h/l of the box ?
Yes, technically it is the break or the high/low of the box. Personally, I enter early all of the time if I feel I have correctly determined the trend. Why wait for the box to form completely if you feel you can enter now? For me, the "box" is just something I use to help the start of my day by having a defined 2 hour period to look at.
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