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A Simple London Breakout

  • #461
  • Apr 28, 2010 11:21pm Apr 28, 2010 11:21pm
Usd/Chf

04:00 to 07:00

No Martingale

-35
-35
+27
-35 =
-78 pips

With Martingale Multiplier

-35
-70 (-35 x 2)
+135 (+27 x 5)
-35 =
-5 pips

We'll start out tonight with a multiplier of 2 on this set.

03:00 to 06:00

No Martingale

-26
-26
+20
+20
-26
+20
-26
+20
-26=
-50 pips

With Martingale Multiplier

-26
-52 (-26 x 2)
+100 (+20 x 5)
+20
-26
+40 (+20 x 2)
-26
+40 (+20 x 2)
-26=
+44 pips

We'll start out tonight with a multiplier of 2 on this set.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdchf 4-7.jpg Size: 97 KB
Click to Enlarge Name: usdchf 3-6.jpg Size: 104 KB
  • #462
  • Apr 29, 2010 12:18am Apr 29, 2010 12:18am
Hi mer071898,
I have been following you strategy for some 3 weeks now, and I must say what outstanding results.
I have been trading the following pairs:-AudUsd,EurGbp,EurJpy,EurUsd,GbpUsd,UsdCad,UsdChf,and UsdJpy.
Trading results:-47 wins, 15 neutral trades,1 Loss.
Total pips:- 1462 pips.
Absolutely amazing. Thanks for sharing your plan.
I cant wait to see your new fib level entry as promised.
Regards
  • #463
  • Apr 29, 2010 2:30am Apr 29, 2010 2:30am
Quoting GannFan
Hi mer071898,
I have been following you strategy for some 3 weeks now, and I must say what outstanding results.
I have been trading the following pairs:-AudUsd,EurGbp,EurJpy,EurUsd,GbpUsd,UsdCad,UsdChf,and UsdJpy.
Trading results:-47 wins, 15 neutral trades,1 Loss.
Total pips:- 1462 pips.
Absolutely amazing. Thanks for sharing your plan.
I cant wait to see your new fib level entry as promised.
Regards
Woooowww.... Amazing result. Hope you done it in live
I was around 300 pips short from you btw... but only for 5 pairs for now. Usualy 11 pairs...

Congratulations...

Good luck...
  • #464
  • Apr 29, 2010 3:18am Apr 29, 2010 3:18am
That rocks!!!

I like those green strips, Mer...
  • #465
  • Apr 29, 2010 5:16am Apr 29, 2010 5:16am
Quoting squalou
That rocks!!!

I like those green strips, Mer...
Just checkin your script....
Well.. let's just say that now I can call my 7 years old kids at home to place a trade for me....


5 Hits already! 100 pips richer today... !
  • #466
  • Apr 29, 2010 7:57am Apr 29, 2010 7:57am
If everybody chose one pair that they thought was the most successful - which one would it be?

Is it better to place more on one pair than to trade five different ones with less?
  • #467
  • Edited 8:14am Apr 29, 2010 8:12am | Edited 8:14am
Quoting GannFan
Hi mer071898,
I have been following you strategy for some 3 weeks now, and I must say what outstanding results.
I have been trading the following pairs:-AudUsd,EurGbp,EurJpy,EurUsd,GbpUsd,UsdCad,UsdChf,and UsdJpy.
Trading results:-47 wins, 15 neutral trades,1 Loss.
Total pips:- 1462 pips.
Absolutely amazing. Thanks for sharing your plan.
I cant wait to see your new fib level entry as promised.
Regards
Hi GannFan,

47 wins for only 1 loss ? AMAAAAAAZING !!!
That gives us an average +30 pips per trade !!!

You must be using some other SL method than the one called by the Strategy...
Do you move to BE once it gets well into the "sweet grass field" ?
And/or set a trailing stop ?

Would you share your SL method ?

If we can reduce the drawdowns to almost 0, we would have a killer Strategy here !!!

Not even talking about the long-awaited new settings that Mer is cooking us...

Sq.
  • #468
  • Apr 29, 2010 8:34am Apr 29, 2010 8:34am
It's a simple London Breakout...GBPUSD is the best...

http://i937.photobucket.com/albums/a...456/gbpmer.jpg
  • #469
  • Apr 29, 2010 10:25am Apr 29, 2010 10:25am
Quoting squalou
Hi GannFan,

47 wins for only 1 loss ? AMAAAAAAZING !!!
That gives us an average +30 pips per trade !!!

You must be using some other SL method than the one called by the Strategy...
Do you move to BE once it gets well into the "sweet grass field" ?
And/or set a trailing stop ?

Would you share your SL method ?

If we can reduce the drawdowns to almost 0, we would have a killer Strategy here !!!

Not even talking about the long-awaited new settings that Mer is cooking us...

Sq.
Hi Squalou... many ways to "cheat" this strategy to reduce the lose trade. Make sure you find one for yourself... Not placing those stop at the same time is one of those "cheat". I think you owe yourself to play around a little...

You know what... I believe I also have read somewhere, that there is a guy out there who is putting 5 Lots on five pips in a breakout strategy similar to this one and he earn 315 consecutive wins without loosing a single trade (at least that was he said) . Have you notice how small 5 pips distance is in M15 TF with pair like EJ or GJ? Almost impossible to miss for me...

Like I said before... This Mer's work (now it's also yours) is already fantastic from the start... many ways to play, many ways to win and many ways for not losing. Just be creative...

  • #470
  • Apr 29, 2010 11:03am Apr 29, 2010 11:03am
Quoting NiceGuy
Hi Squalou... many ways to "cheat" this strategy to reduce the lose trade. Make sure you find one for yourself... Not placing those stop at the same time is one of those "cheat". I think you owe yourself to play around a little...

You know what... I believe I also have read somewhere, that there is a guy out there who is putting 5 Lots on five pips in a breakout strategy similar to this one and he earn 315 consecutive wins without loosing a single trade (at least that was he said) . Have you notice how small 5 pips distance is in M15 TF...
Seems you had put some brain work to this topic.... what do you think, once you have found some suitable parameter, will they hold long?
  • #471
  • Apr 29, 2010 11:16am Apr 29, 2010 11:16am
Some background thoughts:

We have all seen those days with huge Red "NO TRADE" boxes, and waaaaaaay too far TP levels...
and still, we feel like we could make some decent pips if those levels wouldn't be that far...
So, you just enter your own SL/TP in the script instead of all-0's...
Hum.... not very easy to come up with "reasonable" levels...
takes you ages and headakes with the calculator to get there...

Next, we all have a rough "feeling" of the TP "ceiling" that we should not exceed on a given pair... 60 or 70 pips max for GU perhaps ?
But the indicator nor the script will give you that ceiling...


Sooooooooooooo,
once more, Squalou gives you THE solution:

introducing the V8 "swiss-army knife" version of the indicator !

( i like that "V8", it sounds like a sweet Ford Mustang '68 engine...
this strategy may get me one some day !!
ok, back to the subject...
)

This version will allow to keep SL/TP levels into "reasonable" min/max limits on days with too-high or too-low pre-breakout volatility...

It has 2 more inputs acting as box size limiters.

Don't want your TP/SL levels go off the roof ?
Just set the "MaxExtentInPips" to whatever box size you don't want to exceed, and that's it.

And for those days where you think that the box is too small, and you could surely harvest more pips than what the tiny green strip suggests...
then just set the "MinExtentInPips" !

Of course, as usual, ignoring those values (default 0) won't change the behaviour of the previous versions indicator... just to keep you feel at home...


Ok, now, here are two cool extras for you:

- Tip#1: want to have a CONSTANT SL/TP arround the box median price, every day, whatever the box size may be ?
setting "MinExtentInPips" and "MaxExtentInPips" to the SAME non-0 value will get you there...
- Tip#2: want to set your "straddle" order based on a SINGLE candle, not on the 3-hours default box period ?
For instance, use the single bar formed at midnight as your straddle center ?
No problem:
set the startTime and endTime both to "00:00",
(that will give you tiny little boxes that do not even show on the chart!),
then set "MinExtentInPips" and "MaxExtentInPips" so that you get a comfortable SL/TP "playground" (this is where "MinExtentInPips" is so important!), and you're done...
Now just drag scriptV2 on your chart and click OK...


Other changes i made: i fixed the "Lopuch glitch window" issue...
And some other minor change.

You can read the full detailed version history in the .mq4 file directly.

Enjoy...

Sq.
Attached File(s)
File Type: mq4 London BreakoutV8.mq4   17 KB | 594 downloads
  • #472
  • Apr 29, 2010 11:20am Apr 29, 2010 11:20am
Quoting NiceGuy
Hi Squalou... many ways to "cheat" this strategy to reduce the lose trade. Make sure you find one for yourself... Not placing those stop at the same time is one of those "cheat". I think you owe yourself to play around a little...

You know what... I believe I also have read somewhere, that there is a guy out there who is putting 5 Lots on five pips in a breakout strategy similar to this one and he earn 315 consecutive wins without loosing a single trade (at least that was he said) . Have you notice how small 5 pips distance is in M15 TF...

just saw your answer after "cooking" my long previous post...

I was about sure you would pop in with some answer to that one...

Thanks for the "directions", although they sound a bit too "wide" fro me at teh moment... but that will keep my brain hot for a while!!

Hope you'll love my "swiss-army knife" version...

cheers
Sq.
  • #473
  • Apr 29, 2010 2:39pm Apr 29, 2010 2:39pm
Quoting squalou
Introducing the V8 "swiss-army knife" version of the indicator!
Wow, you just keep getting better and better, don't you. Thanks for all your hard work! I'm going to fire this baby up right away!

Cheers.
  • #474
  • Apr 29, 2010 4:49pm Apr 29, 2010 4:49pm
Unfortunately I can't be at the computer during a lot of the market hours.
Is there an EA that will do entry exit and stop loss? I realize I will have to input lot size and the pair traded.
Also my broker is Taduwal and they are gmt +2 , when i put the start and end time for the box I notice that I get a lot of red no trade zones, should I back it off to gmt+1 or leave it as it is set at 3-6 or move it for, 4-7
Thanks
  • #475
  • Edited 5:00pm Apr 29, 2010 4:52pm | Edited 5:00pm
Just started playing a bit with my brand new V8-engine tonight...
got quite quickly a set of inputs that would have given 1300+pips in the past 60 days (from feb 4 till apr 29), on GU ALONE and just using the regular strategy rules (let loosers hit SL...)
It has a decent 2:1 Reward/Risk, and ended up with 65-wins/92-losses (not so good ratio yet...)
I can clearly see there is plenty of room for better tuning...
Pure cream...
I love my V8-engine already!
Mer, we are looking at some pretty good future here... thanks again for having started all this...

Sq.
  • #476
  • Apr 29, 2010 5:12pm Apr 29, 2010 5:12pm
Quoting sheppy
Unfortunately I can't be at the computer during a lot of the market hours.
Is there an EA that will do entry exit and stop loss? I realize I will have to input lot size and the pair traded.
Also my broker is Taduwal and they are gmt +2 , when i put the start and end time for the box I notice that I get a lot of red no trade zones, should I back it off to gmt+1 or leave it as it is set at 3-6 or move it for, 4-7
Thanks
Sheppy, Steve's EA is listed in post 1, look into the thread for his posts, it has explanations for inputs.
It is multi-pair, you can set lots, and so many parameters ...

For the box, adjust the times (in broker time or your local time, i never know, they are the same for me!) so that they cover the 3 hours before London session Open.

I am also at GMT+2, and i shift Mer's 03:00-06:00 period is 04-07 for me.

Sq.
  • #477
  • Edited 10:15pm Apr 29, 2010 6:07pm | Edited 10:15pm
Quoting squalou


Sooooooooooooo,
once more, Squalou gives you THE solution:

introducing the V8 "swiss-army knife" version of the indicator !

( i like that "V8", it sounds like a sweet Ford Mustang '68 engine...
this strategy may get me one some day !!
ok, back to the subject...
)
another one ???? or......Should I wait for V9? ...... which probably will be released tonight.
I just hope that you are not forgetting to harvest those pips everyday...
  • #478
  • Edited 8:30pm Apr 29, 2010 7:48pm | Edited 8:30pm
i attached the londonbreakoutv7 and scriptv2.. but when i attached the script. it pop ups an error. i have attached a screenshot of the error. can anyone help me?

thank you.
Attached Image
  • #479
  • Apr 30, 2010 1:00am Apr 30, 2010 1:00am
Quoting kesterpogz
i attached the londonbreakoutv7 and scriptv2.. but when i attached the script. it pop ups an error. i have attached a screenshot of the error. can anyone help me?

thank you.

I keep getting that quite often too...

The reason is that you cannot place a BUYSTOP or SELLSTOP (="pending" orders) if the price is "too close to" or "already past" the order's entry price.
It is the case when price is in or near the green field.

Just wait for price to retrace outside the green field -- and it also requires some "safety margin" of several pips, perhaps 4 or 5 pips at least, otherwize the order is rejected by the server, and you get this message.

sq.
  • #480
  • Apr 30, 2010 1:16am Apr 30, 2010 1:16am
Quoting squalou
I keep getting that quite often too...

The reason is that you cannot place a BUYSTOP or SELLSTOP (="pending" orders) if the price is "too close to" or "already past" the order's entry price.
It is the case when price is in or near the green field.

Just wait for price to retrace outside the green field -- and it also requires some "safety margin" of several pips, perhaps 4 or 5 pips at least, otherwize the order is rejected by the server, and you get this message.

sq.
thank you . i have managed to use it correctly now.
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