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GBP/USD simple breakout system

  • #121
  • Aug 26, 2009 8:01pm Aug 26, 2009 8:01pm
Quoting dachelm
Actually yes. I've been developing some systems and method. You can find them on links I provide you below.

http://forex-strategies-revealed.com...-chart-trading

http://forex-strategies-revealed.com...trading-system

http://forex-strategies-revealed.com...appy-wednesday

http://forex-strategies-revealed.com...ingale-hedging

http://forex-strategies-revealed.com...systems/lucky7

This last one "lucky 7" is the one I'm using...
lucky 7 has creative MM rules, however, without a technical filter for entries, it is useless.
  • #122
  • Sep 26, 2009 7:39am Sep 26, 2009 7:39am
Hello all,

Most of the follow-up comments have been via email and/or PM, so I thought a quick post update was in order. This system continues to work well. Even when markets are choppy. Remember to use the 60 ma as your final filter. If the trade is in the opposite direction of the 60 ma, leave it alone. You can go for several days without a trade (as much as 2 weeks during extreme conditions). The 60 ma will "usually" keep you out of the head fakes.

It you prefer not to watch the system all day, not a problem. Simply wait for the box to redraw each day and set a buy stop or sell stop in the direction of the 60 ma. Simple...

Note: my stats are only for the GBPJPY. Other pairs reported to work well: EURUSD, USDJPY, GBPUSD, GBPAUD, CADJPY and AUDJPY

http://www.forex-tsd.com/attachments...new-tricks.png
{Promotion Removed}
  • #123
  • Oct 1, 2009 12:23am Oct 1, 2009 12:23am
Quoting pino2
Hi everyone,
I have too many systems I made myself, some are technical and some are mathematical, I'll try to post here in this forum the mathematical ones

I came out with a very simple breakout system for GBP/USD
All I have to do is to check the high and the low of the previous day
For eg the high and the low for the last Thursday was (high = 1.9660) and (low = 1.9769)
I place 2 orders as follows
Buy entry order @ 1.9960 TP 1.9965 (Yes 5 pips only) I'm using 5 lots
Sell entry order @ 1.9769 TP 1.9764 also using 5 lots
It's 90% + profitable...
Hi i dont understand which T/F(periods) this breakout strategy is???
Thanks
  • #124
  • Oct 8, 2009 10:26am Oct 8, 2009 10:26am
Quoting MR.Yooo
Hi i dont understand which T/F(periods) this breakout strategy is???
Thanks

You can use any time frame, but 15min, 1hour is easier.......You just need to find the previous day high and low........these will be the same no matter which time frame you use...
  • #125
  • Oct 11, 2009 6:23pm Oct 11, 2009 6:23pm
Is anyone currently using this breakout system and making profit??
Direction is more important than speed. Alot of people go nowhere real fast
  • #126
  • Oct 26, 2009 7:30pm Oct 26, 2009 7:30pm
Quoting riffster
Hello all,

Most of the follow-up comments have been via email and/or PM, so I thought a quick post update was in order. This system continues to work well. Even when markets are choppy. Remember to use the 60 ma as your final filter. If the trade is in the opposite direction of the 60 ma, leave it alone. You can go for several days without a trade (as much as 2 weeks during extreme conditions). The 60 ma will "usually" keep you out of the head fakes.

It you prefer not to watch the system all day, not a problem. Simply wait for the...
Hi Riffster,
Many thanks for this gbpjpy strategy. Could you clarify the timerange you use for the yellow box? It seems to be around 3 hours before Asian session, so 2100 GMT - 2400 GMT? And you wait for a breakout till European session start, i.e, till around 700 GMT (Frankfurt open)?
Cheers
  • #127
  • Jul 5, 2010 10:21am Jul 5, 2010 10:21am
Do you include spread or 5pips + spread...thanks
  • #128
  • Jul 5, 2010 6:06pm Jul 5, 2010 6:06pm
It seems you are right - simulation shows 4.8% profit in roughly 8 years. Winning trades 49 - losing trades 1.

http://i614.photobucket.com/albums/t...tory/pino2.png
Cut short your losses. Let your profits run on. David Ricardo (1772-1823)
  • #129
  • Jul 5, 2010 8:23pm Jul 5, 2010 8:23pm
Quoting Ramadas
It seems you are right - simulation shows 4.8% profit in roughly 8 years. Winning trades 49 - losing trades 1.

http://i614.photobucket.com/albums/t...tory/pino2.png

hi ramadas, are you saying in 8 years there is only one losing trade ?
  • #130
  • Jul 6, 2010 2:32am Jul 6, 2010 2:32am
Yes. But I would not use this strategy - this is too small profit.
Cut short your losses. Let your profits run on. David Ricardo (1772-1823)
  • #131
  • Jul 6, 2010 2:48am Jul 6, 2010 2:48am
Quoting Ramadas
Yes. But I would not use this strategy - this is too small profit.

pl check your testing again. cant believe there is only one loss in 8 years and profit is small
  • #132
  • Jul 23, 2010 10:00pm Jul 23, 2010 10:00pm
I wrote an EA, just dont know what SL to use...
  • #133
  • Aug 2, 2010 1:38am Aug 2, 2010 1:38am
could someone please share the EA?
it's pretty difficult if I have to put it manually..
  • #134
  • Aug 2, 2010 2:08am Aug 2, 2010 2:08am
ramadas what is this tester?
  • #135
  • Oct 10, 2010 4:23am Oct 10, 2010 4:23am
This is what I have been looking for.. Great and simple system

Good JOB
  • #136
  • Oct 27, 2010 1:56am Oct 27, 2010 1:56am
Quoting bdgong
This is what I have been looking for.. Great and simple system

Good JOB
any respone from user that using this technique??????

profit or Loss???
  • #137
  • Nov 23, 2010 7:28am Nov 23, 2010 7:28am
Quoting pino2
Hi everyone,
I have too many systems I made myself, some are technical and some are mathematical, I'll try to post here in this forum the mathematical ones

I came out with a very simple breakout system for GBP/USD
All I have to do is to check the high and the low of the previous day
For eg the high and the low for the last Thursday was (high = 1.9660) and (low = 1.9769)
I place 2 orders as follows
Buy entry order @ 1.9960 TP 1.9965 (Yes 5 pips only) I'm using 5 lots
Sell entry order @ 1.9769 TP 1.9764 also using 5 lots
It's 90% + profitable...
why not directly buy / sell at the highest point / lowest price?
why must add 5 points above the highest price / lowest?
  • #138
  • Edited 2:18pm Jul 6, 2014 11:27am | Edited 2:18pm
Hope this will wake someone up.

After finding this thread the hard way, I decided to check it out, and here's my backtest findings for 64 Gbp/Usd trading days since April 8th (2014) this year through July 4th:

* New York Close of Day is the time I used to get these results.
* Entry is one full pip beyond previous days High or Low.
* 3 pips for spread has been allowed for this test.

• Only 44 days had trades placed, and 20 days with no trades (more later)
• 6 pip target
• 17 pip Stop
• 38 Wins = 228 pips
• 6 Losses = 102 pips

No trades on day in which previous daily High or Low was not broken.
- Other filters
° No trading prior to Frankfurt Open
° No trading beyond London Close or noon NY
° No trading into Previous Weekly or Monthly High or Low.
° No trading IF during Asia the daily High or Low has been penetrated multiple times. The theory here is that the daily line no longer has any pending orders remaining therefore it has lost it's power.

Once market opens and I can add more M5 days to my charts and I will go back to beginning of year for more backtesting. Prior to that was an entirely different 4X market, which I don't see as being germane to today's conditions.
  • #139
  • Jul 7, 2014 7:03am Jul 7, 2014 7:03am
Day 1 of forward testing.

• Target hit around London Lunch time.
• Profit was only 5.4p instead of full 6 pips due to 8 pip one minute bar that was a price jump.
Attached Image (click to enlarge)
Click to Enlarge Name: 7-7-14.png Size: 28 KB
  • #140
  • Oct 16, 2014 5:18am Oct 16, 2014 5:18am
Hi guys what i should do when both pending orders are activated ? let trade flow ? and w8 to 1 SL .. and with next continue ant take some few pips ? or if 1 fail and 1 win just let 0 PIPS and go for next day and hope only 1 trade will activate
"I'm not answering stupid questions."
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