A Simple London Breakout

That is true . . with a bigger bank roll one can survive the DD
but the more smooth climbing graph line creates less gray hair lol

OF course the drawdown of that, is if you need 50k to fund your martingale method, the profit gained on your little .01 lot trades is pretty miniscual.
So your ROI is pretty low i'd assume.

I'd agree if all I traded was .01 lots, but not every trade is like that. You've see the pips that are made off the multipliers being used and that's where you make your money, not off the .01 lot trades. Again, the whole concept with the martingale is to recoup the losses and put a little extra in your pocket.

Yep, and this is the part that people will have trouble visualizing. Is one of the problems reporting in pips instead of profit, as 1000 pips for the week could equate to $10, $100, $1000 or $10k depending on your traded lot sizes.
If we assume you start with .01 lot on each progression, should be easy to determine how much actual money is being made with the system, using the pip results and multiplier given.

i love the break-out method,
at the beginning of this week, i will deposit 1000usd for your simple london break out robot !

thanks for your sharing .

I would highly suggest waiting until we have substantially tested the EA before trading live money.

I am new to this thread. Can anybody show me the post to understand the details about the trading this method....

Thanks,
Prakash

Start from post #1 and READ, then if you have questions that aren't answered by reading through the thread, we will try and answer them for you.

yesterday trading results

http://i285.photobucket.com/albums/l...outapril27.jpg

which mq4 are you using? As far as i can tell the london breakout 2 does not have a signal for another couple of hours. Do the other indicators provide signals earlier?

Here are Monday's results:

Eur/Usd

04:00 to 07:00

No Martingale

+31
+31
-42
-17 =
+4 pips

With Martingale Multiplier

+31
+31
-42
-34 (17 x 2)
-14 pips

We'll start out tonight with a multiplier of 5 on this set.

03:00 to 06:00

No Martingale

-35
+27
-35
-20 =
-63 pips

With Martingale Multiplier

-35
+54 (+27 x 2)
-35
-40 (-20 x 2) =
-56 pips

We'll start out tonight with a multiplier of 5 on this set.

Gbp/Usd

04:00 to 07:00

No Martingale

No Trade

With Martingale Multiplier

No Trade

We'll start out fresh tonight with no multipliers on this set.

03:00 to 06:00

No Martingale

+22
+22
+22
+22 =
+88 pips

With Martingale Multiplier

+110 (+22 x 5)
+22
+22
+22 =
+176 pips

We'll start out fresh tonight with no multipliers on this set.

Usd/Jpy

04:00 to 07:00

No Martingale

+21 =
+21 pips

With Martingale Multiplier

N/A

We'll start out fresh tonight with no multipliers on this set.

03:00 to 06:00

No Martingale

+24 =
+24 pips

With Martingale Multiplier

N/A

We'll start out fresh tonight with no multipliers on this set.

Eur/Jpy

04:00 to 07:00

No Martingale

+37
+37
+18 =
+92 pips

With Martingale Multiplier

N/A

We'll start out fresh tonight with no multipliers on this set.

03:00 to 06:00

No Martingale

No Trade

With Martingale Multiplier

No Trade

We'll start out fresh tonight with no multipliers on this set.

Usd/Chf

04:00 to 07:00

No Martingale

+24
-32
-6 =
-14 pips

With Martingale Multiplier

+24
-32
-12 (-6 x 2) =
-20 pips

We'll start out tonight with a multiplier of 5 on this set.

03:00 to 06:00

No Martingale

-32
+25
+25
-32
-15 =
-29 pips

With Martingale Multiplier

-32
+50 (+25 x 2)+25
-32
-30 (-15 x 2)
-19

We'll start out tonight with a multiplier of 5 on this set.

Mer
From my testing it seems EJ and GU have done the best and UC the worst

What is your experience?

Hi Mer071898.
I have problem with your indicator. After restart MT4 (due lost connection) was levels on different values than before. Is any solution for this?
Thank you for reply.

Hi Lopuch,

interesting....
The box is drawn once the time is >= EndTime (07:00 or 06:00).
But the box INCLUDES the bar that is forming at that time.
On M15 charts, it means the box would include the bar formed between 07:00(included) and 07:15(excluded).

i think you started MT4 on the first pix DURING the LAST bar used to draw the box, and that last bar was forming and actually EXPANDING the box on the down side.
If you start MT4 AFTER that Last bar is completely formed, then this does not happen.
Which is what happened on your second MT4 reload.

Actually, this is an interesting issue:
the "EndTime" ("07:00" for instance) will actually "lock" the box only when the bar forming at 07:00 is fully completed, which happens at 07:15 on M15 TF.


Mer: the indicator box actually INCLUDES an extra bar: it includes the bar formed between 07:00 and 07:15, so the actual box period is 04:00-07:15 timewise, and not 04:00-07:00 strictly.
If we want the box to reflect price action between 04:00 and 07:00 strictly, then we should NOT include the 07:00-07:15 bar on M15 chart.

This may also cause box to change size when switching between timeframes.
for instance from M15 to M1.

So, the question is: should we INCLUDE or EXCLUDE that "extra bar" in the box computation ?

That does change quite a bit the results if the "extra bar" would actually expand the box.

Edit:
for my remark below: I was wrong, the latest version of Steve's EA computes the box size the same way as the indicator...
Sorry Steve, I did not update my EA with the one on post#1 lately
:-)


BTW, note that Steve's EA does not compute the box size the same way:
he EXCLUDES the FIRST bar, and INCLUDES the LAST EXTRA bar... which is even worth...:

Inserted Code

//|           Steve Hopwood's London session breakout multi-pair.mq4 |
...
   //Calculate the high and low
   bhighest = iHigh(symbol, PERIOD_M15, 
     iHighest(symbol, PERIOD_M15, PRICE_HIGH, [color=Red]StartShift - EndShift, EndShift[/color]));
   blowest = iLow(symbol, PERIOD_M15, 
      iLowest(symbol, PERIOD_M15, PRICE_LOW, [color=Red]StartShift - EndShift, EndShift[/color]));

While the Indicator does include the FIRST bar (AND the EXTRA also):

Inserted Code

  double boxHigh = High[iHighest(NULL,0,MODE_HIGH,[color=Red](StartShift-EndShift+1),EndShift[/color])];
  double boxLow  = Low[iLowest(NULL,0,MODE_LOW,[color=Red](StartShift-EndShift+1),EndShift[/color])];

Sq.

Hi Squalou

I have your v6.1 indicator on my chart with black back ground, it shows all the boxes as light blue even those bigger than 50 pips (or 500 for 5 digits), do you know what the cause might be

Howard,

- the "MaxBoxSizeInPips" input is already in pips, whatever 4 or 5 digits broker you are using. 50 means 50 pips.

- check your inputs: is "BoxColorNOK" color Red ?

- check the actual box size on your chart: activate the "crosshair" mouse mode (press the mouse wheel), then hold-left-click on bottom of the box, and drag the mouse (keep left-click pushed) to the top of the box: next to the crosshair cursor you should see the "bar/POINTS/price" values: the "POINTS" is the number of "points" between start and stop of the mouse movement. For 5 digits broker it will show x10 the pip value (500 for 50pips).
If it's >=500 (or 50 on 4digs broker), then the box is betyond the limits and should show in red.

Sq.