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A simple breakout system

  • #21
  • Nov 16, 2010 4:26am Nov 16, 2010 4:26am
Fxpro charts are GMT+2, hence the 2 hour difference between the times stated by estrader and the times shown on his charts.

Now should the system be set to GMT or Fxpro time?
Regards
  • #22
  • Nov 16, 2010 7:27am Nov 16, 2010 7:27am
Quoting howard
Fxpro charts are GMT+2, hence the 2 hour difference between the times stated by estrader and the times shown on his charts.

Now should the system be set to GMT or Fxpro time?

He stated the system should be set for GMT 0, but I don't think that's what he meant. That isn't what he did.
  • #23
  • Nov 16, 2010 9:38am Nov 16, 2010 9:38am
Quoting billbss
He stated the system should be set for GMT 0, but I don't think that's what he meant. That isn't what he did.
Made pips on both up and down break of 11-13 bars.
Attached Image (click to enlarge)
Click to Enlarge Name: breakout4.gif Size: 49 KB
  • #24
  • Nov 16, 2010 9:48am Nov 16, 2010 9:48am
Quoting ES Trader
Made pips on both up and down break of 11-13 bars.
As usual got out too soon. trade generated more than almost 35 pips
  • #25
  • Nov 16, 2010 9:51am Nov 16, 2010 9:51am
Quoting ES Trader
As usual got out too soon. trade generated more than almost 35 pips
Can someone direct me to a simple script that will basically move my stop loss
to breakeven after price moves 15-20 pips in my favor. I have tried multipurpose trade manger, but seems to be too complicated for me.
Thanks
  • #26
  • Nov 16, 2010 9:55am Nov 16, 2010 9:55am
Quoting billbss
He stated the system should be set for GMT 0, but I don't think that's what he meant. That isn't what he did.
billbss, I could be wrong. Time is set for Fxpro time.
  • #27
  • Nov 16, 2010 10:23am Nov 16, 2010 10:23am
Ok this timing is driving me batty so I marked the MIDDLE bar of the three bar box in EST.

http://img833.imageshack.us/img833/9966/28869595.jpg
  • #28
  • Nov 16, 2010 11:18am Nov 16, 2010 11:18am
Quoting jmag
Ok this timing is driving me batty so I marked the MIDDLE bar of the three bar box in EST.

http://img833.imageshack.us/img833/9966/28869595.jpg
Interesting.Does it exactly coincide with the GMT time I wanted on the chart?
  • #29
  • Nov 16, 2010 11:36am Nov 16, 2010 11:36am
Quoting jmag
Ok this timing is driving me batty so I marked the MIDDLE bar of the three bar box in EST.

http://img833.imageshack.us/img833/9966/28869595.jpg




The actual bar times he's marked off on his chart are:

0200 GMT - 0400 GMT
0900 GMT - 1100 GMT
1600 GMT - 1800 GMT


Your EST labels for the middle bar are correct.

EST is GMT-5.

2200 EST = 0300 GMT
0500 EST = 1000 GMT
1200 EST = 1700 GMT

Those would correspond to the middle bar of the time ranges I have given above.
  • #30
  • Nov 16, 2010 11:37am Nov 16, 2010 11:37am
GMT would be EST+5, so the middle bars are 3, 10, and 17 GMT. So the box intervals would be 2-4, 9-11, and 16-18 GMT I think according to your charts. edit: ok glad we agree.
  • #31
  • Nov 16, 2010 11:46am Nov 16, 2010 11:46am
Quoting jmag
GMT would be EST+5, so the middle bars are 3, 10, and 17 GMT. So the box intervals would be 2-4, 9-11, and 16-18 GMT I think according to your charts. edit: ok glad we agree.
Another trade possible in about another an hr and 20 minutes.
This will be for US session
Attached Image (click to enlarge)
Click to Enlarge Name: breakout5.gif Size: 46 KB
  • #32
  • Nov 16, 2010 11:59am Nov 16, 2010 11:59am
I can't use it on my platform so I need to manually box it. It looks like the indicator is using the high and low of only the second and third bars in the box.
  • #33
  • Nov 17, 2010 9:38pm Nov 17, 2010 9:38pm
anyone backtesting this?
  • #34
  • Edited 1:58pm Nov 18, 2010 10:16am | Edited 1:58pm
This week at least looks good. So far I have 150 pips including one loss for about 30 pips. Since it's meant to catch the winding up of trades before the end of the session, I set my orders to expire at 3 hours for better or for worse.
  • #35
  • Edited 5:32pm Nov 18, 2010 5:30pm | Edited 5:32pm
Quoting ES Trader
Can someone direct me to a simple script that will basically move my stop loss
to breakeven after price moves 15-20 pips in my favor. I have tried multipurpose trade manger, but seems to be too complicated for me.
Thanks
Hey ES.

i use a breakout system.

i use the mauro trailing stop as like you say steves EA will take some time to learn...

if you can't find it give me a shout and i will direct you.
  • #36
  • Nov 18, 2010 7:03pm Nov 18, 2010 7:03pm
Quoting ES Trader
Here is the chart

need some clarification.

at point do you enter trade ? and exit trade ?

surely the stop cannot be the opposite end of the box as that could be a huge number of pips ?
  • #37
  • Nov 18, 2010 7:49pm Nov 18, 2010 7:49pm
Quoting stimpy
Hey ES.

i use a breakout system.

i use the mauro trailing stop as like you say steves EA will take some time to learn...

if you can't find it give me a shout and i will direct you.
Can you please direct me to it.

Thanks
  • #38
  • Nov 18, 2010 8:04pm Nov 18, 2010 8:04pm
These are few more trades .Every trade except Post USA sessions made Money.
Attached Image (click to enlarge)
Click to Enlarge Name: breakout10.gif Size: 43 KB
  • #39
  • Nov 18, 2010 8:10pm Nov 18, 2010 8:10pm
Quoting ES Trader
These are few more trades .Every trade except Post USA sessions made Money.
Yellow, is Asian, Blue, european and Red american sessions
  • #40
  • Nov 19, 2010 9:36am Nov 19, 2010 9:36am
Quoting whatfx

surely the stop cannot be the opposite end of the box as that could be a huge number of pips ?
I did an eyeball backtest of this month and there are some big losses in the beginning, some 280 pips. Then the last couple of weeks bring it back. Right now it's around break even for the month. This is with a 20 pip tp and stop at other end of box.

Seems like a good entry. I wonder if we can tighten the stops.
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