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A Simple London Breakout V.2

  • #701
  • Sep 8, 2010 2:41am Sep 8, 2010 2:41am
Quoting simmo24
Whats going on ?
There are posts missing from this thread from yesterday. Mine included. Is there some moderation happening here. ????
It's true! I informed the moderator about some offending postings in this thread. The moderator has deleted the postings wich had to do with members and their intellectural properties and not with trading, including postings from me... You can still find yours in the recicle bin.
  • #702
  • Sep 8, 2010 2:51am Sep 8, 2010 2:51am
Quoting SwingMan
It's true! I informed the moderator about some offending postings in this thread. The moderator has deleted the postings wich had to do with members and their intellectural properties and not with trading, including postings from me... You can still find yours in the recicle bin.
Ok, thanks Swingman. I hope this thread can get back to what the title says.
I've only just found it !
  • #703
  • Sep 8, 2010 5:05am Sep 8, 2010 5:05am
Quoting Cape Cobra
Squalou and co. (I know mer is on vacation...)

Are we still on track for a '5-tier' target system instead of the current '3-tier'? I know someone had mentioned it on this thread before. Nothing else in the strategy/system changes, except of course, you'll have 5 TPs instead of 3.
I can see lots of merit in having a '5-tier' target EA. It gives you just a bit more flexibility, will add to overall profitability and ,in my opinion, works better than having a built-in trailing stop.

Thanks and keep doing what you're doing!
Hi,

the EA still trades only the 3-tier version currently.
You can still setup the 3-tier so that its far end (TP3) is your 5-tier far end (TP5).

A 5-tier version EA would open 5 trades instead of 3.
That has also to be taken into consideration, as it will be 5 x losses if SL is hit.

SQ
  • #704
  • Sep 8, 2010 5:52am Sep 8, 2010 5:52am
Quoting squalou
Hi,

the EA still trades only the 3-tier version currently.
You can still setup the 3-tier so that its far end (TP3) is your 5-tier far end (TP5).

A 5-tier version EA would open 5 trades instead of 3.
That has also to be taken into consideration, as it will be 5 x losses if SL is hit.

SQ
Hello Squalou,

We will really apreciate, as much as we appreciate your current work , if you release EA with fixed moving to BE after hiting TP1 and with GMT time recalculator. If you could also add MaxProfitPerDay it would be great.
Thanks and regards,
RL
  • #705
  • Edited 8:41am Sep 8, 2010 7:07am | Edited 8:41am
There's probably a nice simple solution.

Start a thread called "London Open Semaphor Bounce System, with Trailing Box Stop", whatever. It's an interesting and potentially profitable system (with the repainting Semaphor problem), but NOT a box breakout system. SwingTrader is correct.

Spare us the psychodrama, pontification and dissertations and long essays, please.

It would be great on another thread. You can moderate it.
  • #706
  • Sep 8, 2010 8:56am Sep 8, 2010 8:56am
Quoting Pardy

On every thread you will find people come in to comment without understanding or reading the thread. Most have nothing to offer by way of ideas, most simply want to be told what to do and imagine they will make a ton of money without effort or risk. It is probably futile to take there comments on board.


Pls pls pls.

Regards
Pardy
( hope I haven't spoken out of turn!!)
Tell you what here's an idea, open up a chart, add your semaphor indi plot your support and resistance, draw a fib for your Take profit levels and Bobs your auntie !!
Who needs a box. Oh ! but of course thats Johnnys idea, damn I was going to start my own thread there.
Maybe I will start a thread for you , Johnny and people who like his ideas.
Then maybe us "newbies" who don't contribute can do what the original author wanted and try to learn his system.

Peace
  • #707
  • Sep 8, 2010 2:35pm Sep 8, 2010 2:35pm
I am new to the threads (LBO and LBOv2) since having started reading them over the weekend. I have been watching the London open for a while and am excited to find EAs that can autotrade at that time (unfortunately, I am New York time/ET). Thanks to Mer, squalou and Steve and others for making it happen...

I look forward to testing the 3 tiered system and finding the best pair and start/end combination. For anyone that's tested this for a while, have you found less is more (ie, fewer pairs equal greater profit or the opposite). And is the default gap duration (adjusted for time zone of course) proving to be the best? Comments appreciated, thank you!

-thunderball
  • #708
  • Sep 8, 2010 2:36pm Sep 8, 2010 2:36pm
very nice thread. Congratulation to everybody.
  • #709
  • Sep 8, 2010 3:54pm Sep 8, 2010 3:54pm
Quoting thunderball
I am new to the threads (LBO and LBOv2) since having started reading them over the weekend. I have been watching the London open for a while and am excited to find EAs that can autotrade at that time (unfortunately, I am New York time/ET). Thanks to Mer, squalou and Steve and others for making it happen...

I look forward to testing the 3 tiered system and finding the best pair and start/end combination. For anyone that's tested this for a while, have you found less is more (ie, fewer pairs equal greater profit or the opposite). And is the default...
Thunderball,

Welcome. Feel free to check out my post at #639. It shows three pairs that I have narrowed down to be consistantly profitable for me. I time optimized these pairs as I do not have the bank for an effective martingale.

Hope it helps,

ScottyB
  • #710
  • Sep 8, 2010 4:16pm Sep 8, 2010 4:16pm
Hello Scotty,

Very nice results. Do you remember how long your backtests were for?

Regards,
Jeff

Quoting ibthescottyb
Ok, here ya go. These are my backtesting results and settings. I have only run live for the past week and am carrying a 92% winning rate. Had first lost yesterday on GBP false breakout. Thanks to Johnny, I now have added a S/R indicator to choose whether I will manually allow the trade to enter or not. Times are based on GMT +3 (FXDD). So far, I have only been able to optimize 3 pairs, EURUSD, EURJPY and GBPUSD. My goal (like ours) is to find a time frame that was consistantly profitable over the last year. Also, that is the only data I have through...
  • #711
  • Sep 8, 2010 4:38pm Sep 8, 2010 4:38pm
Quoting azjeff
Hello Scotty,

Very nice results. Do you remember how long your backtests were for?

Regards,
Jeff
Backtests go back one year. That seems to be the max I can get with FXDD data. Trading live now. Very good stuff.

ScottyB
  • #712
  • Sep 9, 2010 5:00am Sep 9, 2010 5:00am
Is there any progress with AutoGMT? IT looks like that lots of people are having headache with time zones !
Help to be helped.
  • #713
  • Sep 9, 2010 5:30am Sep 9, 2010 5:30am
@Squalou

I know this is more of a PM type of question, but since I am a junior member I don't know how else to ask...

Recently I've been testing a Breakout strategy using the LBO V.2 indi and your amazing EA. instead of placing the initial box for 3 hours, I only place it for the 2 15min candles of 8:15-8:30 Pacific ( I believe it's -7 GMT at the moment) MaxBox=20, MinBox=2, end time is default. Since the box is so small moves can blast through the three TP's rather quickly. Will the EA set the BE+1 up to the TP3 line if I change the TP number in the EA? I find this spot a great point to lock in pips while also getting ready for another 20+ pips where I can get out at my choosing. Maybe a trailing stop after TP3?

Also, TP1 and TP2 aren't closing a trade, is this normal?

Thanks a lot for all your hard work creating these tools for us all to use!

cheers,
Brochington
  • #714
  • Sep 9, 2010 6:18am Sep 9, 2010 6:18am
Quoting FXMajors
Using 3 Tier London Breakout V.3 2b on both charts

Broker FXDD
TF 15 both charts
You can see different BO are showing
FXMajors,

Since you're using the JBS modified version I will tell you. You need to set the minimum and maximum pip settings the same for the two charts to be the same. On one you show 5, 20 and the other I believe is 15, 80.

Johnny
  • #715
  • Sep 9, 2010 6:23am Sep 9, 2010 6:23am
Quoting JohnnyBSmart
FXMajors,

Since you're using the JBS modified version I will tell you. You need to set the minimum and maximum pip settings the same for the two charts to be the same. On one you show 5, 20 and the other I believe is 15, 80.

Johnny
JB
Both charts have the same value which is the default values...
  • #716
  • Sep 9, 2010 7:04am Sep 9, 2010 7:04am
Quoting FXMajors
JB
Both charts have the same value which is the default values...
FXMajors,

On the top of the chart they show the input settings which are different. Recheck the input values. Are you using the same template? Also there is no EA yet for the 3B version. The 3b version was a modified still under construction project.

It is not a break out of the box style method. It is a break from support or resistance style method. The box breakout version is 3a. Both can be traded manually and in the same manner. The only difference is the trade is made from a bounce from the box and not a break through the box. It is also best to trade off the bounce when the bounce occurs instead of waiting for the London Open. Both are momentum trades on the direction of the price action and the actual breakout is one of volume resulting in fast price moves.

The initial move may be a false short move with the second move the real break from present price level. One never knows for sure without other means of verifying price exhaustion. I use confirmation before every trade but that is your choice. Mer's method is a break out of the box believing the break is confirmation of a long run to the take profit level. It is your decision which version you want to trade although Mer might delete 3b upon his return.

Johnny
  • #717
  • Sep 9, 2010 7:05am Sep 9, 2010 7:05am
Quoting FXMajors
Hi,
I'm using Alpari UK located in EST zone any suggestion on time values? I have copied your post # 639 its not working out for me, any assistance will be greatly appreciated.

Thanks in Advance
Good morning all!

FXMajors,

Alpari UK is GMT +2. My settings are for GMT +3. Simply subtract 1 hour from the start and end times for the box and you should be good to go.

GLTA!

ScottyB
  • #718
  • Sep 9, 2010 7:22am Sep 9, 2010 7:22am
Quoting ibthescottyb
Good morning all!

FXMajors,

Alpari UK is GMT +2. My settings are for GMT +3. Simply subtract 1 hour from the start and end times for the box and you should be good to go.

GLTA!

ScottyB
Thanks for your prompt reply ScottyB
Cheers
  • #719
  • Sep 9, 2010 7:23am Sep 9, 2010 7:23am
Quoting JohnnyBSmart
FXMajors,

On the top of the chart they show the input settings which are different. Recheck the input values. Are you using the same template? Also there is no EA yet for the 3B version. The 3b version was a modified still under construction project.

It is not a break out of the box style method. It is a break from support or resistance style method. The box breakout version is 3a. Both can be traded manually and in the same manner. The only difference is the trade is made from a bounce from the box and not a break through the box. It is...
Thanks Johnny I appreciate your input...
  • #720
  • Sep 9, 2010 1:30pm Sep 9, 2010 1:30pm
Quoting JohnnyBSmart
... It is not a break out of the box style method. It is a break from support or resistance style method. ... The only difference is the trade is made from a bounce from the box and not a break through the box. It is also best to trade off the bounce when the bounce occurs instead of waiting for the London Open.
Johnny
Ah, the light dawns with a clear explanation.

Many thanks Johnny
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