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USDJPY: Open Hour

  • #61
  • Aug 3, 2010 3:33pm Aug 3, 2010 3:33pm
Hi Roundrock,

On your last chart you posted; are the lines and the values on top left drawn by a script or an indicator?
Can you share it?

Thanks
  • #62
  • Aug 3, 2010 6:46pm Aug 3, 2010 6:46pm
thank, lets try it in some minutes!!
abd

Quoting joaogr
Simple!

Looks like its working... Need some forward testing and MM.

abd:
1st question has been answered already:
"when the candle size is less than 10 pips, i consider it as 10 and do the math. that means 12 pips SL, 12 TP1, 24 TP2 (considering 2 pips buffer)"
2cnd: It should always be the 23:00 - 00:00 GMT candle (correct me if I m wrong)


Thanks for sharing
  • #63
  • Aug 3, 2010 7:04pm Aug 3, 2010 7:04pm
Today's candle...
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.png Size: 7 KB
  • #64
  • Aug 3, 2010 8:33pm Aug 3, 2010 8:33pm
Quoting abducted
hi everybody
thank you for sharing the method.
just 2 questions:
1st. what about the spread in the limits orders and sl?
2nd. did you test the method when change the time during summer winter? did you use the same candel?
thank in advance!
abd
gmt is gmt wherever u r. tokyo doesnt have day light savings..

spread depends on your broker and market condition
  • #65
  • Aug 3, 2010 8:35pm Aug 3, 2010 8:35pm
Quoting savoybc
Today's candle...
long triggered, hit sl (its a false breakout)

short is triggered, hit tp1, moved to be
  • #66
  • Aug 3, 2010 8:57pm Aug 3, 2010 8:57pm
Hi Roundrock,

I think you have missed my post #61.
Can you please give me an answer?
If you don't want to share the indicator I will understand.
But if it is available elsewhere, can you give me a dirrection
where to find it?

It must be good to have it since you are using it.

Thanks for your reply.

Cheers
  • #67
  • Aug 3, 2010 9:24pm Aug 3, 2010 9:24pm
Hi Pluto,

There are several different indicators out there that can do the job for you. The one I use is from the Paulus EG thread. It's called ant-GUbreakout. You should use the following settings:
GMT shift: 0 if you live in GMT time, else use whatever applies to your broker feed
Start and end depend on your time.
Day number: choose the number of days you wish the indicator to draw
Offset: leave this at 0

Other settings are not that important, but I suggest you play around with them so you know how to use this indicator.
Attached File(s)
File Type: ex4 ant-GUBreakout_V.0.4.1.ex4   13 KB | 297 downloads
If you don't risk, you don't ever have to lose.
  • #68
  • Aug 3, 2010 9:27pm Aug 3, 2010 9:27pm
roundrock,
after having had quite a few sleepless nights my sleeping schedule is all messed up. Long story short, I found your thread and put the strategy to the test this morning and I have to say that I very much like what you have here. It's very simple and the rules are clear as crystal. Couldn't ask for a simpler setup, really. Thank you for posting this.
If you don't risk, you don't ever have to lose.
  • #69
  • Aug 3, 2010 10:12pm Aug 3, 2010 10:12pm
Hi Bug,

It's very kind of you to reply to my post. But I believe that we are talking about different indicators. I have no problem with figuring out the GMT etc...

If you look at Roundrock's chart in post #51, you will see the horizontal lines with the value numbers, and an information on the upper left hand corner of the chart.

I believe that it is an indicator which would help us very much, but of course, it's not necessary. It just would be nice to have.

Thanks again for your help. I appreciate it very much.

Cheers
  • #70
  • Aug 3, 2010 10:28pm Aug 3, 2010 10:28pm
Trading a breakout is really simple indeed

Thanks for sharing your method Roundrock
Lets make some green pips
  • #71
  • Aug 3, 2010 11:28pm Aug 3, 2010 11:28pm
Quoting Pluto2
Hi Bug,

It's very kind of you to reply to my post. But I believe that we are talking about different indicators. I have no problem with figuring out the GMT etc...

If you look at Roundrock's chart in post #51, you will see the horizontal lines with the value numbers, and an information on the upper left hand corner of the chart.

I believe that it is an indicator which would help us very much, but of course, it's not necessary. It just would be nice to have.

Thanks again for your help. I appreciate it very much.

Cheers
Uh..ok, I see. I thought you were looking for breakout box indi.
If you don't risk, you don't ever have to lose.
  • #72
  • Aug 3, 2010 11:36pm Aug 3, 2010 11:36pm
Quoting roundrock
... this is very very simple method without any indicator

... dont change any of these parameters

Pair : USDJPY. dont trade any other pair please

Method : Open H1 chart for USDJPY. mark high, low between 23:00 GMT to 00:00 GMT , this is 1 hour duration.

Place buy limit order at high + 2 pips, sell limit order at low - 2 pips
TP : close 50% at 1:1 and remaining at 1:2 (move SL to BE), that means if risk is 20 pips, then close 50% for 20, and 50% for 40

SL : Otherside of the candle +- 2 pips

[b]Ideal...
Hi roundrock

I in fact am sourcing for simple breakout trading method. Yours is one. Hope it has produced good profit to you?

Allow me to ask...

So when you said "mark high, low between 23:00 GMT to 00:00 GMT"
- Do you mean your trading system is based on GMT+0?

Notes: I use Gomarkets GMT+2.
If the above is correct then I will have to backward 3 (hours) candles to determine the "last 1-hour candle" for the range of "high+2" and "low-2."
Am I correct that correct?

p.s. I am a newbie and English is not my speaking language.

Thank you for your time.

tpat
  • #73
  • Aug 4, 2010 12:04am Aug 4, 2010 12:04am
Quoting roundrock
I am following this method with great success for last several months. this is very very simple method without any indicator

There are several versions of this method on this forum with different names. why it is unique then ? its unique because of its simplicity. just follow blindly you will make pips !!! dont change any of these parameters

Pair : USDJPY. dont trade any other pair please

Method : Open H1 chart for USDJPY. mark high, low between 23:00 GMT to 00:00 GMT , this is 1 hour duration.

Place buy limit order at high...

Thank's sir Roundrock for sharing a technic without indicators.....i just see your technic into my chart it's available to use for a BIG CANDLLESTICK...what is your oppinion sir??
  • #74
  • Aug 4, 2010 1:12am Aug 4, 2010 1:12am
here is the indicator i am using..
Attached File(s)
File Type: mq4 Open Hour.mq4   6 KB | 348 downloads
  • #75
  • Aug 4, 2010 1:18am Aug 4, 2010 1:18am
short -- both tp1, tp2 hit
  • #76
  • Aug 4, 2010 2:16am Aug 4, 2010 2:16am
if your on a for example H1 chart just press F8 click on common tab and check the box that says "Sow period separators" that line is vertical line is now 00
  • #77
  • Aug 4, 2010 2:29am Aug 4, 2010 2:29am
Quoting tradpat
Hi roundrock

I in fact am sourcing for simple breakout trading method. Yours is one. Hope it has produced good profit to you?

Allow me to ask...

So when you said "mark high, low between 23:00 GMT to 00:00 GMT"
- Do you mean your trading system is based on GMT+0?

Notes: I use Gomarkets GMT+2.
If the above is correct then I will have to backward 3 (hours) candles to determine the "last 1-hour candle" for the range of "high+2" and "low-2."
Am I correct that correct?

p.s. I am a newbie and English is not my speaking language.

Thank...
Correct. On GoMarkets the candle you are interested in is the one that forms from 0100 to 0200 GoMarkets server time.
  • #78
  • Aug 4, 2010 2:30am Aug 4, 2010 2:30am
Quoting roundrock
short -- both tp1, tp2 hit
Тhis is a very nice system. Sorry for my English.
I have a question concerning recent orders. My broker spread for USDJPY is 3pips and GMT+3 (Summer time) - high, low between 02:00 to 03:00

http://a.imageshack.us/img683/1084/11660613.gif
  • #79
  • Aug 4, 2010 3:51am Aug 4, 2010 3:51am
Quoting roundrock
here is the indicator i am using..

Thank's sir for the indicator.....i will use it and try it with my MT4
  • #80
  • Aug 4, 2010 4:41am Aug 4, 2010 4:41am
Quoting roundrock
short -- both tp1, tp2 hit
Hi roundrock

It will be nice if you can post charts so that like newbies can understand your trading method, if you don't mind.

tpat
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