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A Simple London Breakout

  • #501
  • May 2, 2010 4:16am May 2, 2010 4:16am
Quoting tazmaan
In the 3 weeks results have been published to this thread, the total pip count for the original hours (4-7) is 4687, with highest level hitting 34
In the 1.5 weeks results have been published for the adjusted hour (3-6), the total pip count is 1897 with highest level hitting 34.

Adjusted hour has made 31 more pips than original so far in the 1.5 weeks, fyi.

If you were trading micro lots, this would equate to $0.10 per pip (or $468 3weeks/$189 1.5weeks)

guess it all depends on how much capital you really need to have in order to trade .01...
Hi

Do you have any pip counts for the same periods with "No Martingale"?
Regards
  • #502
  • May 2, 2010 10:12am May 2, 2010 10:12am
Quoting tazmaan
Hi Sangmane,
Did you happen to ever recode the bot to work as Mer is doing things? Wouldn't mind having it trading exactly how he is with the reentries, seems his method over the last 3 weeks outperforms the way your bot currently does it now.
Look forward to playing with if if u decide to edit the logic for reentries
Hi tazmaan,

I'm away from home, will recode that EA when I'm back
  • #503
  • May 2, 2010 10:32am May 2, 2010 10:32am
Quoting howard
Hi

Do you have any pip counts for the same periods with "No Martingale"?
No, and I don't think I am going to go through each post again to find out. Easily done if you are interested however, just start at the first page and count up the results the author has posted
  • #504
  • May 2, 2010 10:33am May 2, 2010 10:33am
Quoting sangmane
Hi tazmaan,

I'm away from home, will recode that EA when I'm back
Look forward to it, safe travels
  • #505
  • May 2, 2010 7:25pm May 2, 2010 7:25pm
Thanks to all in the thread.
Just to amswer a few ques. that have subsequently appeared:-
1.While i trade up to all the currencies that are mentioned, I dont necessirily trade all at one time.
2. The result shown are live accounts.
3.I use the basic description of the breakout. I.E. (as i understand it), When viewing the charts between the 3.00 -6.00am period I open 2 posiitions one long,& one short on the 127% fib level after the 6.15 bar has finaised for the amount of the pip range of thr high /low for that period.
4. I use no more than a 35pip move.20-30 more preferable. Above that too big for my liking.
5. As my time of trading the 3-6 time frame occurs atapprox4.00pm in the south pacific I find that this is convient. Once the trade have been set I turn off the computer and gooooooooooooo. Its to tempting to watch and adjust (?) positions much to my determent.
6. The first week was a blitzer. Not only did the trend go in one direction upon completion and slighly over running the mark, it reversed , went back through the 1-100% fib range and then clicked me in on the otherside. 2 trades for for the price of one. This concerned me greatly.
7 Having that occur and the potential to turn a wining trade into a loosing one, I now do go back at approx 8-9pm to quickly review my position. If it is a winner I cut the other side out. If it is a looser than I allow it to run, Thereby (hopefully) turning a looser into a winner, which in my language is a neutral trade. ( -1 + 1 =0)
4. I dont use the martindale method.

I hope this clarifies my view of the London Breakup a it was genoursly shared by Mer.
Thanks Mate.

Happy Trading.
  • #506
  • Edited 11:18pm May 2, 2010 9:37pm | Edited 11:18pm
Quote
Thanks to all in the thread.
Just to amswer a few ques. that have subsequently appeared:-
1.While i trade up to all the currencies that are mentioned, I dont...
Wonderful way to adapt this method to work in your favor, good job.

_________________________________________________________________________________________________________________________________________


Alright, I know everyone is curious on the new setting that was given to me by my buddy on the "other" forum. What he has suggested on using is an "EntryFactor" of .8 and a "TPFactor" of 2.618.

An EntryFactor of .8 places the entry just past the 61.8 extension of the fib drawn on the box. According to my friend, who is a big fib fanatic, says that the 61.8 extension is a major hurdle when it comes to price reversals. If we can get a break of this extension increases our chance to get to our Profit Target. The TPFactor of 2.618 is basically the 261.8 fib extension of the box, a major target, especially when a 61.8 extension is firmly breached. This is nothing that is revolutionary or special as we still will have our losses mixed in with our winners.

Okay, how to handle open trades. Because we're looking at larger Profit Targets, we have to take a different approach to closing out the trades. What my friend has suggested is when you open a trade, leave it until it either your trade closes out at target or stops out. If you have an open trade from the previous day when the new box forms and you have another entry possibility, go ahead and enter as normal. Sometimes an open trade may take a day or two to close. This allows the trades to breathe and gives them time to develop. Some of the trades that we normally would have closed for a loss at the start of the box ended up as winning trades.

I looked over the charts over the last week and there are a few things that I noticed.

1) Profit Targets overall are a little larger allowing for more profit to be made. I have changed the maximum box size from 50 to 60 pips to allow for a few more opportunities.

2) Comparing the Stoploss and Profit area (Green Box), we now have a 1:1 risk to return ratio. This may allow us to lower the multipliers that are used with the original settings. I'm sure the 1:1 RR should be more appealing to most everyone here.

3) We are holding onto trades a little longer, so we'll have the possibility of more than one trade open at a time on a single pair. Trades that are not closed on Friday can now be carried over to the next week.

All of the charts examples of the new setting will be from my FXCBS broker which is GMT +3, which translates into an 06:00 to 09:00 entry time so no one gets confused. I'm using a different broker so I don't have to switch back and forth between profiles until I decide to merge it into my Collective profile. I'm trying FXCBS as the platform does not have a Sunday candle (I hate those!) and has excellent spreads compare to other ECN brokers.

I do not guarantee any results as this is only been visually looked over just on the past weeks trades. Please use common sense and look back through the charts or forward test on demo to make sure of the settings validity. I'll post some charts to show how I've interpreted the entries and exits.
  • #507
  • May 2, 2010 10:03pm May 2, 2010 10:03pm
we will have fewer trades with this approach
  • #508
  • Edited 11:19pm May 2, 2010 10:10pm | Edited 11:19pm
Quote
we will have fewer trades with this approach
I would assume you would have fewer trades because you have a little farther to go to reach an entry point. But again, these are just optional settings for those who want something a little different.
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Here is what I saw from Eur/Usd.

Keep in mind that red boxes are losing trades and blue boxes are winning trades. Same rules apply as with the original settings, 1) enter on the touch of the entry point and 2) no new trades entered after 00:00.

All trades are held until closed either at Profit Target or Stoploss. If we have a losing trade, the multiplier is figured in at the next available trade opportunity.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 4-7.jpg Size: 165 KB
  • #509
  • May 2, 2010 10:12pm May 2, 2010 10:12pm
Quote
All of the charts are from my FXCBS broker which is GMT +3,

i am just curious.. you said your charts are from fxcbs but how come when i zoomed in your attachment image i can see collectivefx?..
  • #510
  • May 2, 2010 10:13pm May 2, 2010 10:13pm
Quoting mer071898
Here is what I saw from Eur/Usd.

Keep in mind that red boxes are losing trades and blue boxes are winning trades. Same rules apply as with the original settings, 1) enter on the touch of the entry point and 2) no new trades entered after 00:00.

All trades are held until closed either at Profit Target or Stoploss. If we have a losing trade, the multiplier is figured in at the next available trade opportunity.
except for this one. this really is from fxcbs.
  • #511
  • May 2, 2010 10:27pm May 2, 2010 10:27pm
Quote
i am just curious.. you said your charts are from fxcbs but how come when i zoomed in your attachment image i can see collectivefx?..http://cdn.forexfactory.com/images/s.../yim/happy.gif
I'm only posting charts using the new settings from FXCBS. The original settings are from The Collective FX.
  • #512
  • Edited 11:09pm May 2, 2010 10:29pm | Edited 11:09pm
Here's Gbp/Usd and Usd/Jpy
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd 4-7.jpg Size: 150 KB
Click to Enlarge Name: usdjpy 4-7.jpg Size: 157 KB
  • #513
  • May 2, 2010 11:08pm May 2, 2010 11:08pm
Eur/Jpy and Usd/Chf
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurjpy 4-7.jpg Size: 156 KB
Click to Enlarge Name: usdchf 4-7.jpg Size: 160 KB
  • #514
  • Edited 11:27pm May 2, 2010 11:12pm | Edited 11:27pm
Results from last week with the new settings would have made you:

No Martingale- +469 pips

With Martingale- +1236 pips (highest multiplier was 13)

Starting tonight I will no longer post my charts with the starting time of 03:00 to 06:00. I will post the trades from the new settings instead so we can get a comparison from the same time but using different indicator settings.
  • #515
  • May 3, 2010 1:23am May 3, 2010 1:23am
Quote
Hello.
I have some ideas how london breakout could be improved.
Who code EA please contact me I will share my ideas with youhttp://cdn.forexfactory.com/images/s.../yim/happy.gif
Best wishes,

Danel

sangmane and Steve Hopwood are the two guys responsible for the EA's in this thread. I would suggest to PM them directly as you will get a quicker response that way.
  • #516
  • May 3, 2010 3:25am May 3, 2010 3:25am
Hey guys,

First of all fantastic thread!
I was just wondering how on the charts you get say 22x2=44 pips.
Are the pending orders rejenerated or have you manually reentered for the second trade?
sorry for the newbie question!
  • #517
  • May 3, 2010 5:28am May 3, 2010 5:28am
Hey guys.

I wasn't around here last week - I was busy with the day job for the first part of the week then had some reflection to do about the other robots I am coding. I let my robot do the trading here, just adjusting the entry prices when the calculations were not quite correct.

Now I am catching up, I am blown away by developments here.

squalou, that is fantastic coding work. I love the latest indi; that script - wow.

I am going to adapt the robot's code to take the entry values from the global variables to overcome the difficulties caused by the internal calculations.

At some stage this week, I shall return to developing the robot and add the remaining functions.

Wonderful stuff happening here.

  • #518
  • May 3, 2010 5:38am May 3, 2010 5:38am
Quoting SteveHopwood
Hey guys.

......

Wonderful stuff happening here.



I thought you left us alone.....

Test your EA for this thread did produce invalid entry levels as you may have noticed.

Please consider (this, in fact was a tag line for Mitsubishi Motors in Australia many years ago. I like it very much.) what i posted in your the other thread:

http://www.forexfactory.com/showpost...&postcount=882

Thanks very much.

Cheers.


P.S. Sorry if i sound too demanding.
福 子 Victor V
  • #519
  • May 3, 2010 9:36am May 3, 2010 9:36am
Quoting SteveHopwood
Hey guys.

I wasn't around here last week - I was busy with the day job for the first part of the week then had some reflection to do about the other robots I am coding. I let my robot do the trading here, just adjusting the entry prices when the calculations were not quite correct.

Now I am catching up, I am blown away by developments here.

squalou, that is fantastic coding work. I love the latest indi; that script - wow.

I am going to adapt the robot's code to take the entry values from the global variables to overcome the difficulties...
Hi Steve,

Thanks for the congrats, it goes right to my heart

I was about to start patching your EA bot to take advantage of my GlobalVariables-based "communication method" that i experimented with the Indi and script, but no time to do that...
I prefer to let you grow your own babies!


The EA taking the entries from the GlobalVariables would be nice, indeed:
- setup the Indi with your settings,
- fire the EA on the chart, and that's it.

However, some pitfalls may come with the EA, that should be adressed:
because it is a MULTI-PAIR EA, you must make SURE that ALL listed pairs have an open chart with the correct Indi setups on them, otherwize the GlobalVariables won't be defined, or will have wrong or outdated values;

A possible solution would be that the Indi "exports" ANOTHER set of GlobalVariables with its "last" SETTINGS when you drop it on a chart, e.g. "LB-GBPUSD-EntryFactor" (=0.3), "LB-GBPUSD-TPFactor" (=1.3), etc.,
so that the EA can use them instead of the LEVELS.

The EA would INVOKE the Indi code directly using the iCustom() function with these SETTINGS, and get the "returned" LEVELS from it thru the LEVELS GlobalVariables "updated" by the Indi.
At the stage, the EA doesn't require the Indi to be actively running on any open Chart, it is able to autonomously "determine" the levels by itself, day after day, on any listed pair.

The second advantage is that the EA becomes independent on the way the levels are determined by the Indi.

The EA becomes AUTO-ADAPTIVE to the Indi.



I have attached a V8.1 version of the Indicator with these new GlobalVariables for you to use in the EA .

I have also attached a small script that demonstrates how to collect those global variables easily...
Just use the 2 functions in the EA.

Note that unfortunately GlobalVariables cannot hold text... so i trick the "time" strings a bit...


I think this opens a complete new perspective in EA coding!


My pleasure.
Sq.
Attached File(s)
File Type: mq4 London BreakoutV8.1.mq4   18 KB | 566 downloads
File Type: mq4 London Breakout import test script.mq4   4 KB | 416 downloads
  • #520
  • May 3, 2010 10:09am May 3, 2010 10:09am
Steve,

just another thought:

i think it would be good to add the following input in the EA:

extern string objPrefix = "LB-";

And use it when invoking the Indicator to grab the returned inputs and levels.

That way, we could fire the EA with "multiple Indicators" on the SAME pairs, each "set" of Indicators using a different "objPrefix" string.

For instance:
- a "London open" set with a box set to 04:00-07:00, endTime=14:00, with objPrefix "LB-London";
- a "NY Open" set with a box set to 12:00-15:00 (or whatever 3 hours prior to NY open), with objPrefix "LB-NY" for instance;
- and so on

You can actually already do that with the Indicator, it will show the 2 boxes and playgrounds, and set GlobalVariables with different names already ("LB-London-GBPUSD-xxxx" and "LB-NY-GBPUSD-xxx" in my example)

Then you can fire 2 EAs at the same time each with the objPrefix you want...
(on different charts probably, but we don't care! it's multi-pair anyway!),

Just a thought...

Sq.
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