A Simple London Breakout | Page 7 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

A Simple London Breakout V.2 1,490 replies

SIMPLE EA for a simple method needed!! 2 replies

Another Simple London Breakout System (with a twist) 46 replies

Simple london breakout v.9.2 error 1 reply

Need help with this simple london breakout EA 2 replies

Attachments: A Simple London Breakout
Exit Attachments

A Simple London Breakout

  • #121
  • Apr 15, 2010 6:06am Apr 15, 2010 6:06am
wow what an impressive profit you got kijkij.I am newbie here.in the first thread showed 2 indicator london breakout and london breakout 2.Whats the diifferent between those two indicator?

Thanks in advance,
Solace.007
  • #122
  • Apr 15, 2010 7:51am Apr 15, 2010 7:51am
hello

i am new
just i want to know

what is the stop loss ?

and i use this platform

http://www.thecollectivefx.com

is it the time right ?

can u give me example for GBPUSD today

where is my stop for buy and sell
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 4-15-2010 4-47-22 PM.png Size: 105 KB
Click to Enlarge Name: c.gif Size: 16 KB
  • #123
  • Apr 15, 2010 8:05am Apr 15, 2010 8:05am
Quoting Solace.007
wow what an impressive profit you got kijkij.I am newbie here.in the first thread showed 2 indicator london breakout and london breakout 2.Whats the diifferent between those two indicator?

Thanks in advance,
Solace.007

Download this one: http://www.forexfactory.com/showpost...4&postcount=39
  • #124
  • Apr 15, 2010 8:09am Apr 15, 2010 8:09am
Quoting Value-global
hello

i am new
just i want to know

what is the stop loss ?

and i use this platform

http://www.thecollectivefx.com

is it the time right ?

can u give me example for GBPUSD today

where is my stop for buy and sell
Where it says "Entry" there you take the position where it says, "Profit Target" that is your TP and on the other end of the box is your SL. Everything is written on the chart!
  • #125
  • Apr 15, 2010 8:36am Apr 15, 2010 8:36am
Quoting kijkij
Todays Results Using 2GMT - 5GMT
===========================

EU short: +27
UJ short: +15
UC Long: +18
GU short: +33
GJ short: +52
EG short: +4 (still open)
EJ short: +41
===============
Total: +190

What if this happen daily!!
It definitely looks better.

How far did you backrest ?

  • #126
  • Apr 15, 2010 8:43am Apr 15, 2010 8:43am
Quoting matlobien
It definitely looks better.

How far did you backrest ?

I did not back test it but If I look in the past chart, the strategy shows more profits than looses. So you can see yourself! Its easy to estimate.
  • #127
  • Apr 15, 2010 11:24am Apr 15, 2010 11:24am
Quote
Todays Results Using 2GMT - 5GMT
===========================

EU short: +27
UJ short: +15
UC Long: +18
GU short: +33
GJ short: +52
EG short: +4 (still open)
EJ short: +41
===============
Total: +190

Great results, but if you can do me a favor and please post result in the Trading Journals section. Since you are using the other indicator and different timeframe, I don't want everyone else to get confused, thanks.

Quote
one suggestion about logging the trade status with pips. some trades give more pips and some less. right way to do is calculate number of winners and losers. i bet same risk on EACH trade. doesnt matter how many pips i get, lose. i lose 100$ or gain 73$, if i win 10 trades and lose 4 trades, i can calculte how many $ i made

That's the whole reason I do pips is because everyone uses different lot sizes. I do the same thing except with pips, it doesn't matter how many winners or losers I have, it's if I'm + or - in the pips overall that matter. I also do pips to explain the martingale sequences, and that doesn't translate as well with dollars. When I post my results with "No martingale", that is done assuming the same lot size for each trade, win or lose.

Quote
wow what an impressive profit you got kijkij.I am newbie here.in the first thread showed 2 indicator london breakout and london breakout 2.Whats the diifferent between those two indicator?

Thanks in advance,
Solace.007


The only difference between the two is the entry point on London Breakout 1 is just past the 27 fib extension @30. On London Breakout 2, the entry point is just beyond the 38.2 fib extension @42. Keep in mind kijkij is also using it on a 1 hour timeframe which is not what the thread is based on.

Quote
Where it says "Entry" there you take the position where it says, "Profit Target" that is your TP and on the other end of the box is your SL. Everything is written on the chart!

Thanks kijkij, you beat me to it. Everything is written directly on the indicator for you already.

Quote
I did not back test it but If I look in the past chart, the strategy shows more profits than looses. So you can see yourself! Its easy to estimate.

That why I said to play around and find out what works for you. But again, I stress to please post all of your results in the trading Journal section so not to clutter up the thread and to confuse other traders.

***Just a small note, I have updated the two indicators and templates in post #1 with the changes in the code that nightyhawk has made which included the MaxBoxSize parameter and the ability to change the level color. The Fibcolor input parameter was removed as I saw no changes when the input was changed. If you are using a 5 digit broker, please add an extra "0" to get the correct MaxBarSize.***
  • #128
  • Apr 15, 2010 1:21pm Apr 15, 2010 1:21pm
I could not resist this, so I have spent a happy few hours adapting my BS Asian Session Breakout robot to this system.

To save myself some typing, can I ask people to go to my Boris Schlossberg thread at http://www.forexfactory.com/showthread.php?t=216557 and download the user guide if there are any inputs in this robot you cannot understand.

For those of you unfamiliar with my work, I like to write multi-pair auto-trading robots. This one is one of these. Also, there are a couple of personal characteristics you need to understand:

 

  1. i code input times in your computer's local time, and the defaults are what work for me. You have to enter your LondonStartTime in your own local time.
  2. I code anything that requires a pip setting 5 digit format, then the robot automatically divides the figure by 10 if yours is a 4 digit criminal. If yours is a 4 digit criminal, then your mental setting of 50 for MaxTradingPipsFromHiLo (the maximum box size you will allow the robot to trade) by 10, so it becomes 500.

The on-screen display shows some slightly different figures to those shown by the indicator. I cannot work out why, but the differences do not look significant to me.

Users might want to keep their usual charts open with the indicator running, to check that the figures the robot is using are more-or-less correct. Shout out if there is anything wildly different.

Important note: I have not sorted out the logic that allows the robot to be loaded at any old time and still work out which are the correct candles to get the box hi-lo from. This means you need to load it up before the start of the European session tomorrow, and make sure it is running when your LondonOpens hour arrives.

Cheers guys. Have fun. I am looking forward to trying out this baby.

Especial cheers to mer071898, without whom none of this would be happening.

Attached File(s)
File Type: mq4 Steve Hopwood's London session breakout multi-pair.mq4   22 KB | 960 downloads
  • #129
  • Apr 15, 2010 2:00pm Apr 15, 2010 2:00pm
Wow,
SteveHopwood came to this nice thread... I'm deeply impressed
  • #130
  • Apr 15, 2010 2:09pm Apr 15, 2010 2:09pm
Quoting nightyhawk
Wow,
SteveHopwood came to this nice thread... I'm deeply impressed
Pure accident, but a happy one. Glad to be here.

By the by guys, I meant to say. Once I put source code up I regard it as 'open source'. Coders please feel free to adapt it and put up said adaptations here. We can all benefit.

  • #131
  • Apr 15, 2010 2:41pm Apr 15, 2010 2:41pm
Quoting SteveHopwood
Pure accident, but a happy one. Glad to be here.

By the by guys, I meant to say. Once I put source code up I regard it as 'open source'. Coders please feel free to adapt it and put up said adaptations here. We can all benefit.

why shld magic number be more than 5 digits?
  • #132
  • Apr 15, 2010 2:55pm Apr 15, 2010 2:55pm
Quote
Wow,
SteveHopwood came to this nice thread... I'm deeply impressed
If you've ever needed a trade management EA, his is the one you should use. I knew it wouldn't be too long before someone would pop in with an EA for this. Thank you Steve for your contribution, and thank you for the voucher. It means a lot coming from a well respected FF member.
  • #133
  • Apr 15, 2010 4:00pm Apr 15, 2010 4:00pm
Mr. Simple, see this is almost same as your system？ except your FIB tp.

Quoting mistersimple
why shld magic number be more than 5 digits?
  • #134
  • Apr 15, 2010 4:17pm Apr 15, 2010 4:17pm
Quoting mer071898
If you've ever needed a trade management EA, his is the one you should use. I knew it wouldn't be too long before someone would pop in with an EA for this. Thank you Steve for your contribution, and thank you for the voucher. It means a lot coming from a well respected FF member.
My pleasure. People able to come up with such a simple and helpful system deserve to have their expertise recognised.

I am looking forward to trading this tomorrow and next week.

Hehe. This probably means your system has taken its last profitable trade.

  • #135
  • Apr 15, 2010 5:25pm Apr 15, 2010 5:25pm
Firstly, my regards and thanks to Mer for the system.

I put in my 1 cent here. it is one cent to you guys, but like a thought after many days and nights efforts on my end.

Mathematically, Martingale expand the risk expontienally, but without increasing reward (expectancy).

To overcome the risk while still having chance to go for next win (to offset previous loss), try this:

position size: 1 -> 1 -> 2.

usually, martingale is 1 -> 2 -> 4, this is too risky.

i'm lazy and forgetful to write about the reduction of the % to margin call using my 1:1:2 way compared to usual 1:2:4. Let's say, if you trade a system and have 100% probability to bankrupt using 1:2:4, using my way will make you 70% likely to go bankrupt.

also, i am not suggesting 1:1:2:4:8 till margin call.

i am suggesting 1:1:2 (or at most 1:1:2:5) intraday, if all loss, then that's it for the day--bad luck, next day will be a new start from 1 again.


Quoting mer071898

With no martingale multipliers used we ended up with an overall loss of:

With the martingale multiplier in effect we have this:
  • #136
  • Apr 15, 2010 5:44pm Apr 15, 2010 5:44pm
Quoting mistersimple
why shld magic number be more than 5 digits?
To encourage people to use diverse magic numbers in an attempt to hide from the criminals the fact that a number of traders are using the same trading robot.

Experienced traders/coders: know how to get around this; understand why they should not do so. This function is aimed at attempting some protection for the rest.

My own live trading magic numbers are never less than 8 digits long.

  • #137
  • Apr 15, 2010 6:30pm Apr 15, 2010 6:30pm
Quoting SteveHopwood
I could not resist this, so I have spent a happy few hours adapting my BS Asian Session Breakout robot to this system.

To save myself some typing, can I ask people to go to my Boris Schlossberg thread at http://www.forexfactory.com/showthread.php?t=216557 and download the user guide if there are any inputs in this robot you cannot understand.

For those of you unfamiliar with my work, I like to write multi-pair auto-trading robots. This one is one of these. Also, there are a couple of personal characteristics you need to understand:
[list][*]i...
Steve,

Does this EA does the re-entry thing as mer posted in post # 43? I don't see such option in the inout tab. If yes, it would be good if can specify number of re-entry.

Thanks.
福 子 Victor V
  • #138
  • Edited 6:59pm Apr 15, 2010 6:37pm | Edited 6:59pm
For those of you interested purely in manually trading this system, I attach a script that will send the trades for you.

You set the lot size, then the pending price, stop and tp for both trades. Save the details as a setfile before attempting to send the trades, so you do not have to retype the details following a send failure.

If either of the trade sends fail, the script will notify you and invite you to try again. It will detect either of the pairs as a successful send and only try to resend the unsuccessful one.

The MagicNumber defaults to that used by mptm for those of you who wish to use this to manage the trades.

mer071898, this is merely a variant of a script that I have used many times. It will not need updating. Please feel free to hijack it and add it to the downloads in post 1 so it is easy to find.

Attached File(s)
File Type: mq4 London Breakout script.mq4   3 KB | 760 downloads
  • #139
  • Apr 15, 2010 6:45pm Apr 15, 2010 6:45pm
Quoting camvcvoo
Steve,

Does this EA does the re-entry thing as mer posted in post # 43? I don't see such option in the inout tab. If yes, it would be good if can specify number of re-entry.

Thanks.
This ea will automatically enter pending trades whenever the price is within the box. There is no limit on the number of re-entries. Would you like one?

What makes more sense to me is something that Boris Schlossberg says, I think in regard to his 10 a day system. I cannot remember exactly what, but he says along the lines that: "when 3 trades have all lost then there must be something going on in the markets that I do not know about, so I step away until for a few hours."

So, maybe a maximum number of losers per session instead? With a bit of thought, I can code both a max trades per session and a max losers per session. What do you guys think?

My instinct is to leave things as they are for now, and see what happens to avoid over-complicating things.

  • #140
  • Apr 15, 2010 7:37pm Apr 15, 2010 7:37pm
Just to let everyone know, I noticed that Ronald Raygun was reading here earlier.

Everybody who has been a member of FF for more than a couple of days knows that RR is the master of EA coding. I pm'd him for some code to allow my robot to look back to the correct time whenever it is loaded.

He has been kind enough to send me the code that I need. I will try to have this up and running by Sunday night (or Monday if you live in those parts of the world where you have to stand upside down all the time).

1 trader viewing now