7am-9am Big Dog USD Breakout Strategy

SLC,

Actually, it is a little box that lives on whatever TF you are monitoring and shows the condition of all other TF's by MACD and EMA. AS far as accuracy goes, it seems to be as accurate as most other things out there.

For now, I think I will be using it to decide which direction I will place my Big Dog trades using the D1 and H4. If they are both UP, I go long. If they are both DOWN, go short. If they are mixed...straddle.

GLTA...New Week, New Pips.

ScottyB

Forest,,
scotty,,
5MA Exponential great filter
you can see that in my shart as soon as 5ma breakout the box, price hit the target
although I dont know how could I use it couse Iam leaving after putting orders.

best wishes

I love Mohamed's charts. He's always winning!

Have a great week Mohamed, Scotty and all Big Dogs.

Forest

OK, Dogs, before you tune me out, I just wanted you to know that Tokyo might be a viable Big Dog type straddle opportunity.

There is a long running EJ Asia Straddle forum of FF. Type in 181945 to the search box at the top of your page to go there. It is an active but not busy forum since the results are not 'spectacular.' However, they are steadily successful, and there is one principal variant listed on the site (see cgrey) that might appeal to you.

Seems to just be viable for EJ, although I bet AJ should give similar results.

IF you might like to add something in that time period, I recommend you take a look. Probably depends where you live if this time works at all.

Forest

Thanks Forest!

There is a "high impact" news event happening at 23:50GMT for JPY. I plan on trying a straddle with the Big Dog box for the two hours leading up to that and give it a whirl. Going for both, EJ and UJ. We'll see what happens.

GLTA!

ScottyB

Sounds good Mohamed, Thank You!

Any shift?

ScottyB

we have to look up for trends and channels like thise

we can also use stochastic as a filter (bearish div)

Not much to bark about during prime time today.

Forest

HaHa what's funny is I bought an EA for this very system for the London breakout. Called forexsupersonic. ( No I'm not selling it) Very disappointed as it hasn't made a trade yet!! And when I set it up manually it should have had a few trades. LOL and no response from support. I'll probably put in for a refund.

Was hoping it would work as I don't like getting up at 3 AM.


Will now watch this thread. Is the OP still profitable? What happen to all the other's that were in here frequently?

Hey guys! Are you happy with the 15 pip TS? I have a TP of 20 pips and I wouldn't risk any more than 25 pips for SL. Is the 25 pip SL good for this method or shoud I use the 15 pip trailing stop?

i would use whatever you have the most comfort with. 25 pips shouldn't be that bad, depends on if you can trade with the trend. I would also babysit your orders. For me, this has not been a "sit and forget" system. I have been trying it on a different TF and have gotten killed as a set and forget. Probably will go back to 8-10 NYT, that has been the best for me and my circumstances.

Personally, I wouldn't use a 15 pip trailing stop. When I was using this system extensively, I noticed that toward the end of the run you will most likely be seeing a retrace. I used to TP and leave half on the table, but more often than not, that half got stopped out at BE, which would have been greater than a 15 pip trail. Yes you would have saved a few more pips, but I got so tired of some, seeing a retrace, getting stopped at BE . . . I just would close the whole order.

Just my opinion.

Scott

Thank you for the reply Scot. Now I am trying to establish my trading rules for this method and I and other traders around here would be grateful if you can help.

pair: EUR/USD..you said that is better to stick to one pair. Maybe sometimes (when the range of the cube is more than 50-60 pips)you can look to another pair such as GBP/USD or USD/CHF.

Always trade with the trend. Establish the current trend by looking to bigger TF and set only one buy or sell order depending of the main trend.

TP and SL: here I have a problem. I would use 20 pip TP and 25 SL with babysitting the trade.

News: I think news shouldn't be a problem as long as price goes with the trend. I heard some say that they wouldn't trade the 9-15 candle.

If my order is hit after 2 hours should I stay in?

What do you say about trading the retracement after we close our trade?

Please correct me if I am wrong and I would be grateful if you add your suggestions. Thank you!

I only say to stick to one pair so that you can learn its movements and rhythm. I didn't really buy into that untill I watched one pair only for a period of two months, once I did, I understood. I know with all of those pairs out there, it looks and may feel like you coud play them all. Personal preference is to just pick one, and stick with it. If you don't see a trade, don't trade, tomorrow is another day. The problem with the forex market is that it will eat you up if given the chance. The only thing you have control over is yourself, we really don't know which way price will go, all we can do is make an educated guess and hope things go our way. By sticking to one pair, after a while you will see. Don't play two or three pairs because if all go the wrong way, it is a big hit. Stick with on, make an educated guess, place you order and see what happens.

Yes trade with the trend, I know this system has you placing a buy and sell at each end of the box, and you can still do this. I do about a third of the time, but mostly i place an order on the end of the box I think is going to be hit first. I find this also helps with whipsaw and helps to keep me in the game longer. Again, if I don't see anything, I won't place. For determining the trend, i look at the monthly, weekly, daily and 4, with emphasis on the last three.

SL and TP, this is an area where you need to do what you feel comfortable with. I tend to use support and resistance for SL, sometimes a full box SL, rarely a set SL. I never use a trailing stop. No particular reason other than i like to manually cancel orders and don't care to deal with short retraces that might take out a trailing stop. Just my way of doing things. May not be right or the best, but that's how i play it. As far as TP goes, I do that manually too. I trade this system 8-10 NYT, which means I place my orders at 10 NYT which is 7am my time. I then go to work, checking the orders about 1-1.5 hours later. If I am up, I start looking at short term trends to see if I need to get out. This system has a bunch of retraces so if I think one is coming, I get out, or close half and set the stop to BE. More often than not, the BE gets hit and i lose that portion of the trade. Sometimes I may only be up 10 pips, I will still close if I can't babysit and watch. I figure any pip in the account is one more than I had the day before. Sure, i'd like to make a big hit, but I'd rather always walk with some in my pocket. I used to average 75-150 pips per week doing this, trading .1 or .2 lots depending of the strength of the trend.

If your order is hit after 2 hours should you stay in. That depends on your risk tolerance. Usually after two hours, I start to get antsy because, I swear, there always seems to be an early aftermoon retrace that will erase any profit i might have had. I am usually out within 3 hours of my initial entry. Demo this for two to three months and you will see what I mean.

I don't worry about news, still trade those big news events. Just make sure you have a good stop loss. Still trade with the trend, price will either go up, or down. Yes people have talked about which candle to use. I am not that anal about it. I look at the charts about 9:45 NYT, if the trend is determined and price is going that way, I enter right away. I place my orders either on the 5 or 15m TF. I never place them based on the box showing on the 1hr chart, it can be misleading.

I have and do occasionally trade the retracement. It is risky. If you made your profit, be it 10 pips or 35 pips, do you really want to potentially lose them trying to trade the retrace? I have done that a few times and it doen't feel good. Taking a win and turning it to a loss. I suggest after you take profit, or lose for that matter, you turn off your computer and walk away only to turn it on again the follwing morning. I know this forex is addicting, but don't get greedy. Develop your system, do not deviate, make educated guesses, be consistent in your approach and you should do well. Just stick to one thing. There are many good systems on the threads, but they will all fail if you don't stick to them and learn how optimize your results. Try this one and stick with one pair, risk 1% per trading session, babysit your trades and take profit even though it may only be a few pips (it all adds up), don't get greedy, don't revenge trade if the market takes you out, and demo for at least two months doing the same thing over and over, then make your judgement. I usually did about 50% growth per month on my demo.

I know this was very long winded and probably is more blabber than you asked for, if so, sorry about that.

Scott

Thank you Scott for your reply. This was the complete answer I was looking for. I will demo trade until i get results. Thank you again for your advice

You are welcome, but remember...I am no guru. I did well with this system, got stupid, risked too much because it was too easy...then the loses started. Of course I tried to make the money back by risking more and blew the entire demo in a matter of days. I still work on this part of trading, I lost because of my emotions which is the downfall of forex. It is not as easy as it appears, emotionally. The system worked great for me, the way I played it, but I didn't follow my own rules and paid the price.

Since then I have been demoing this system on another TF, and have managed to blow another demo account (I start with $3,000). I will most likely return to this system soon for another three month period and if successful with that, I will go live. I will still stick with the euro/usd, becasue that is the only pair i have been looking at for quite a long time. I never look at others, don't want to get tempted, don't want to try to make a quick buck on a hunch, that will only lead to disaster.

I did the same thing with other systems. Started testing directly live without knowing the system. Worked a while until I got greedy, I didn't follow my rules and I got burned. Lost money but I managed to stop trading that way. I consider it a lesson well learned. I saw in your older posts that you were burned a little too. Good thing you are back on track and hope to keep winning constantly. Thanks for reminding me to stick to the rules because I sometimes tend to forget, getting very emotional.
Happy trading!

Good morning, i would like to know your opinion about this settings, we use the breakout but we only take a long or short position if it rises or fals 10 pips out of the chanel, when it hits that value you will take a order with the TP of 16 Pips and Stop of 14 . Can any one backtest this strategy, see its accuracy, and profit, i am aiming for a 50 pips a week average. You could also try the breakout in the london session and use this pars EU, and GU to see how good it coul be.

Thank you all i will be waiting for answer.

Is any body trading this system for long time can share the Live account statement with profit? Just a screen caps would be sufficient.

Regards,
Winsome

the ny stock exchange starts trading at 9:30. shouldn't we box the 7-9:30 interval instead?