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A Simple London Breakout V.2

  • #761
  • Sep 23, 2010 11:26am Sep 23, 2010 11:26am
Just to drop in real quick and let everyone know that sqaulou and I are discussing a few changes to the EA that will make the trades easier to manage and a we will have a few more small tweaks added as well.
  • #762
  • Sep 23, 2010 11:51am Sep 23, 2010 11:51am
Quoting mer071898
Just to drop in real quick and let everyone know that sqaulou and I are discussing a few changes to the EA that will make the trades easier to manage and a we will have a few more small tweaks added as well.
Thank you Mer for info.

We all are looking forward to trying the latest outcome of your and Squalou's hard work.


Rgds,
RL
  • #763
  • Sep 24, 2010 8:16am Sep 24, 2010 8:16am
Quoting rlewan
Thank you Mer for info.

We all are looking forward to trying the latest outcome of your and Squalou's hard work.


Rgds,
RL
I second that. Although the thread has been a bit slow the last several days, I'm sure most of us are still checking for updates, and for the next release of the ea. I still feel this is one of the very few profitable systems (and best indicator) out there, and am having success with live trading. I have also experimented with many different possibilities for a "filter" to improve entries, but so far, have not found any indicator or other method that works. Yes, you can filter out bad entries, but so far, anything I have tried also filters out good trades as well, and the net outcome does not end up being any better (and sometimes worse) than no filter. I do still use my personal revisions of a 1 pip buffer before entry and break even stop at roughly 2/3 the distance to TP1. Those modifications work well for me, in addition to my personally preferred box times. I'm sure I will still keep trying out new things, though (that's just my nature)
  • #764
  • Sep 25, 2010 10:13am Sep 25, 2010 10:13am
Hello,

Is there a new version of the EA?

@++
  • #765
  • Sep 25, 2010 12:35pm Sep 25, 2010 12:35pm
Not yet, the latest versions are in post #1 and we will update those when the new version is completed.
  • #766
  • Sep 26, 2010 5:09pm Sep 26, 2010 5:09pm
Ok

Thanks
@+
  • #767
  • Sep 28, 2010 2:15am Sep 28, 2010 2:15am
Quoting mer071898
Just to drop in real quick and let everyone know that sqaulou and I are discussing a few changes to the EA that will make the trades easier to manage and a we will have a few more small tweaks added as well.
Hi Mer good news about the new improved EA that is coming I was wondering if you could incorporate trailing SL as many pips are left on the table during big moves. I use TP1 only and a single position opened thanks for all you are doing on this thread
  • #768
  • Sep 28, 2010 8:04am Sep 28, 2010 8:04am
I have been trading this live for just over a week now and have been doing reasonably well. However my performance could drastically be improved if I could rule out the times when a pair ranges from top to bottom of the box triggering trades and SL's, I have tried a few ways to spot this and rule it out but I haven't achieved the best way of doing it, has anyone found an approach to reducing this?
  • #769
  • Sep 28, 2010 2:20pm Sep 28, 2010 2:20pm
Quoting Lysian
I have been trading this live for just over a week now and have been doing reasonably well. However my performance could drastically be improved if I could rule out the times when a pair ranges from top to bottom of the box triggering trades and SL's, I have tried a few ways to spot this and rule it out but I haven't achieved the best way of doing it, has anyone found an approach to reducing this?
Lysian,

Set all options to true.

Johnny
  • #770
  • Sep 28, 2010 10:47pm Sep 28, 2010 10:47pm
Hi Johnny,


I had followed this thread for a few weeks now. I saw you came up with some interesting ideas. I am using indi version 3.2b and my setting are as follow:


MinBoxSizeInPips = 20
MaxBoxSizeInPips = 20
LimitBoxToMaxSize = true
StickBoxToLatestExtreme=true
StickBoxOutsideSRlevels=true


With the regular breakout strategy I understand that I will go long when candle breaks through upper box and short when break through bottom of box. But with these three options set to true, can you elaborate how you would enter a trade? Please view attachment for charts. Thank you!

NightOwl
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 123 KB
Click to Enlarge Name: gu.jpg Size: 108 KB
  • #771
  • Sep 30, 2010 4:41am Sep 30, 2010 4:41am
Quoting JohnnyBSmart
Lysian,

Set all options to true.

Johnny
I have looked at this for the last few days and I can definately see how this works:

Less trades - which is good
Less whipsaw between top and bottom of box - which is great
More respectful of pivots and other points of support/resistance

However there is no option for enabling this in the EA so it has to be manually traded which leaves human decision in the mix and I miss several good setups per day.

Thanks for the advice and I will try to improve my entry technique
  • #772
  • Sep 30, 2010 6:05am Sep 30, 2010 6:05am
Quoting Lysian

Thanks for the advice and I will try to improve my entry technique
Just a further update to this I have entered four trades today based on 3.2b indy and had 3 winners and one loser. Today I am +76 pips and very happy. I am currently playing with the code of the EA to adapt it to trade the same way as the 3.2b indy.

Lysian
  • #773
  • Sep 30, 2010 7:18am Sep 30, 2010 7:18am
Quoting Lysian
Just a further update to this I have entered four trades today based on 3.2b indy and had 3 winners and one loser. Today I am +76 pips and very happy. I am currently playing with the code of the EA to adapt it to trade the same way as the 3.2b indy.

Lysian
Dear Lysian,

Can you tell how you determine entry point using 3.2b? When you enter sell or buy if there is no break out ? Look at above question form NightOwl76 ( post 770 ) and his screens.

Regards,
RL
  • #774
  • Sep 30, 2010 8:36am Sep 30, 2010 8:36am
Quoting rlewan
Dear Lysian,

Can you tell how you determine entry point using 3.2b? When you enter sell or buy if there is no break out ? Look at above question form NightOwl76 ( post 770 ) and his screens.

Regards,
RL
Hi RL

In my opinion entering trades using a manual system is a matter of judgement. I look at the trend of the pair and I will also have the pivot points on the charts to give you more clues. I don't personally trade any breakout unless a candle has closed inside the box, please look at attached chart that shows a recent EURUSD movement, recently they have been in uptrend and the pivot points show that the pair are coming off support at around 6am GMT (Europe open), in this case you could have entered long as the upper line of the box is broken. However I prefer to see a candle close inside the box and then I enter long as they break out of the box and therefore I did not enter.

So I think the long winded answer to your question is I would not have traded any of the examples in NightOwls message as no candles closed in the boxes. If you cover six or seven pairs with this system there are many trade opportunities and its best to pick one or two good ones rather than trade every possible one and lose.

I hope this helps

Lysian
Attached Image (click to enlarge)
Click to Enlarge Name: Entry_Point.png Size: 22 KB
  • #775
  • Sep 30, 2010 9:27am Sep 30, 2010 9:27am
Hi RL

Attached is the chart of GBPUSD from today. I have taken 5 trades on this pair and 4 have been winners today. Trade three was a long that reversed and was stopped however it ended up as a winner short. I dont know why the system entered trade 5 short but it did just after I applied the modified EA to work the same as indy version 3.2b.

Lysian
Attached Image (click to enlarge)
Click to Enlarge Name: GU_300910.png Size: 21 KB
  • #776
  • Sep 30, 2010 2:23pm Sep 30, 2010 2:23pm
Quoting NightOwl76
Hi Johnny,...
NightOwl,

The first thing you need on your chart is something that will show price exhaustion such as Linear Regression Channel and/or Bollinger Band. The price reverses sometime before or after the LO a high percentage of the time. The big question is when and how can we see it.

The second thing we need is an indicator to show confirmation of the reversal. Stochastics, Moving average cross or a Gann indicator will do the trick.

Understand we are looking for direction and not trend although the LRC and Bols will give that as well.

Happy trading,

Johnny
  • #777
  • Sep 30, 2010 2:37pm Sep 30, 2010 2:37pm
Quoting Lysian
Hi RL

In my opinion entering trades using a manual system is a matter of judgement....
Lysian,

Whether the price reverses at the edge of the box or within the box is irrelevant to the success of the reversal as shown in your chart. Your example only shows the need for a better method to trade it.

Trade well and prosper,

Johnny
  • #778
  • Sep 30, 2010 2:47pm Sep 30, 2010 2:47pm
Quoting Lysian
Hi RL

Attached is the chart of GBPUSD from today. I have taken 5 trades on this pair and 4 have been winners today. Trade three was a long that reversed and was stopped however it ended up as a winner short. I dont know why the system entered trade 5 short but it did just after I applied the modified EA to work the same as indy version 3.2b.

Lysian
Lysian,

The box placement is based on time which is a hit and miss as far as hitting major Support and Resistance. After the initial trade the box is quite worthless unless it sits at a major SR. Waiting for the price to move back to it just waste pips.

Johnny
  • #779
  • Sep 30, 2010 3:03pm Sep 30, 2010 3:03pm
Quoting Lysian
Hi RL

Attached is the chart of GBPUSD from today. I have taken 5 trades on this pair and 4 have been winners today. Trade three was a long that reversed and was stopped however it ended up as a winner short. I dont know why the system entered trade 5 short but it did just after I applied the modified EA to work the same as indy version 3.2b.

Lysian
Lysian,

My SL would have been placed above the last high shown on your chart. As the PA moved down from the high I would move the SL just above the SR points shown on your chart but never very close thus averting a SL hit. Confidence in the trade will make you pips but until that happens you will get these SL hits.

I just read this again. Why a Long on #3?

Johnny
  • #780
  • Oct 1, 2010 2:59am Oct 1, 2010 2:59am
@JBS

I've notice that your chart's been very accurate,I tried the parameters you posted but I could not get the same result as yours.Also I noticed your MaxBoxSize changes from time to time. Could you please post your entire parameters settings for E/U pair and also how do I get this to work under EA V1.2. There's lack for SR parameters currently in the EA.

@Squal
When will the next version of EA be release,any eta?
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