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A Simple London Breakout V.2

  • #921
  • Dec 8, 2010 9:44pm Dec 8, 2010 9:44pm
Hi Phreddy,
Yes Entry times...
Same problem on Phoenix EA 4 years ago...
I thinks (huuuummmm!!!!) that you should never start an EA whatever the time. You have to be very cautious : Monday afternoon, Wednesday afternoon, slowly...
Btw to day have been a strange day
On Alpary (the turbo one) London BO went back for -325 pips (GB)then recover to +177 pips at the end of the day
On IBFX +573 pips... No comments !
This EA is really amazing : don't know so few people are not on...
Perhaps they want :
a / to loose money
b/ they like complicated things,
c/ there are sado-masochist and love to be hurt...
Perhaps the 3 options together ???!!!!!
At the same time I test others EA : I am on Blessing : nothing extraordinary, (one days heaven, the other : hell !) FMT payed version nothing extraordinary, IndoRun a bit better but so many options and CBBP : a raw and guts EA... starting... lets see
The only EA with REAL results is London BO V2 !
Well to morrow is another days and I don't know since yesterday how to change GB/US entry time
See you
Bert
Si les cons volaient, il ferait toujours nuit...
  • #922
  • Dec 9, 2010 2:44am Dec 9, 2010 2:44am
Quoting Bert505
Hi Phreddy,
Yes Entry times...
Same problem on Phoenix EA 4 years ago...
I thinks (huuuummmm!!!!) that you should never start an EA whatever the time. You have to be very cautious :...
yep, the most simple and effective system available is BO. no question. its because its so simple people cant get their head around it that it works.
  • #923
  • Dec 9, 2010 4:17am Dec 9, 2010 4:17am
Hi

I am so appreciated to help me to setup the indicator.. pls see the attached chart.

Best wishes
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.png Size: 272 KB
  • #924
  • Dec 9, 2010 5:35am Dec 9, 2010 5:35am
Ammar
London BO set is GMT : then is your broker is GMT + 2, you have to add +2 for entry and end
Let me know your settings now.
Why ? Because you have to understand very well the time notion in Fx market. And at the time you understand this notion one time...
(Don't give a fish, but teach people how to fish...)
My 2 c
Bert
Si les cons volaient, il ferait toujours nuit...
  • #925
  • Dec 9, 2010 11:29am Dec 9, 2010 11:29am
Quoting Bert505
Ammar
London BO set is GMT : then is your broker is GMT + 2, you have to add +2 for entry and end
Let me know your settings now.
Why ? Because you have to understand very well the time notion in Fx market. And at the time you understand this notion one time...
(Don't give a fish, but teach people how to fish...)
My 2 c
Bert
many thanks for ur advise .. this is the chart
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.png Size: 124 KB
  • #926
  • Dec 9, 2010 11:35am Dec 9, 2010 11:35am
Quoting ammar2000a70
many thanks for ur advise .. this is the chart
...if FXPro shows chart time as GMT+2, then you need to set the indicator range times to 07:00 and 09:45, assuming you want the 5am-8am London range, and you're using a 15min timeframe chart.

Hope this helps.
  • #927
  • Dec 11, 2010 3:03am Dec 11, 2010 3:03am
Hey guyz, dis is one of the gr8 trading method online that i've ever seen. I've been using one similar to this b4 but couldn't actually follow the trend only picked 30pips per trade. But this has given me more edge. Thanks a lot mer, u have really done a good job. And to members that have help new traders on this thread thanks a mill
  • #928
  • Dec 11, 2010 11:48am Dec 11, 2010 11:48am
Hi, I really need help here. I leave in SIngapore.. So, some one can help and please tell me what is the SIngapore timing to trade for the London Break out? From what time to what time to trade and look out for the blue box in SIngapore time? And please tell me what is the minimum of pips for the box to be a valid set up? Thanks & cheers..
  • #929
  • Dec 11, 2010 6:51pm Dec 11, 2010 6:51pm
Quoting masurisantos
Hi, I really need help here. I leave in SIngapore.. So, some one can help and please tell me what is the SIngapore timing to trade for the London Break out? From what time to what time to trade and look out for the blue box in SIngapore time? And please tell me what is the minimum of pips for the box to be a valid set up? Thanks & cheers..
The whole idea of the London or any breakout is to take a time/range as your breakout base.
You will see that 3t uses a long overnight time. I use two hours before London opens.

So, look at your chart and mark where London opens compare that with your computer clock or your own watch. Decide what time you will use.

I am using 0700 - 0759 on my chart. This is UK time 0600 - 0659.

On Friday this gave me a nine pip range and I made 15 x 9 pips (in demo). My real time is 1400. I am in Malaysia.

The important thing is for you to sort it out for yourself not take anyone else's times or ranges. There is no 'correct' answer.

Hope that this helps.
  • #930
  • Dec 11, 2010 9:26pm Dec 11, 2010 9:26pm
Hi Phreddy
You are still there: good...
Well Fiday has been a BAD day = some losses... Normal.
There are always bad days and we have to accept it.
Then after one week of "normal" trading (the week before had been an "adjusting" week) we have a +25 % on Alpari UK account and only a +5 % on IBFX
The thing is that I made a mistake on this Alpari account : I put straigh on the EA on the charts of Alpari 2 weeks ago with London time set and.... Alpari is GMT +1
And its works ! Better than IBFX GMT 0 with OOTB settings
=???!!!!!
Strange isn't it
Then on Alpari GMT +1 Entry time : 06:00 End time : 09:14
Always GB/US = bad... give me an idea ! 05:00/08:14 ?
On other hand all JPY/curs are still good. EU/US weak
Have a good WE
Bert
Si les cons volaient, il ferait toujours nuit...
  • #931
  • Dec 11, 2010 10:37pm Dec 11, 2010 10:37pm
Hi Bert,

Friday was good for me on £$. Came straight out and up to 6, 15, 24, 33 and I moved the SL to take 27 on the last one.

I like this EA but it is not to be trusted...No, price is not to be trusted it pops out and back as I have said.

Having said that we do get a breakout morning and afternoon but I need to watch it. Trouble is I get bored. I am retired, have a reasonable income and don't need more. So, low motivation to trade.

Now I have the answer: I watch films or TV series on a small part of the screen with the chart beneath it. When price mis-behaves I intervene manually. Like the last trade above.

The afternoon would have been good as well but the trade window kept coming back 'busy'. I would have closed all the trades for about 45 pips each.
FXDD I wouldn't trust it to go live in case the same thing happens.

Just thought, FXDD is UK + 2 so my times are an hour out.

I keep telling people, "The actual time is not important, just around London Open"
Attached Image
  • #932
  • Dec 12, 2010 1:43pm Dec 12, 2010 1:43pm
Hi,

i only find the mq4. and i cant put it on my chart (V.3.2b)

Has anybody a idea?

Thanks
  • #933
  • Dec 12, 2010 2:14pm Dec 12, 2010 2:14pm
Quoting naranjablue
Hi,

i only find the mq4. and i cant put it on my chart (V.3.2b)

Has anybody a idea?

Thanks
Make sure the file is in your metatrader/experts folder

Shut down your metatrader platform and reopen it, this will then compile the mq4 into ex4. You will be able to drag it onto your chart then

Mark
  • #934
  • Dec 12, 2010 2:56pm Dec 12, 2010 2:56pm
Thanks.

Now i have a mq4 and ex4 in my expert folder. But in the journal the MT4 say: V.3.2b is an indicator and cannot be execcuted.

The 3 Tier London Breakout EA v1.3b works fine
  • #935
  • Dec 12, 2010 3:13pm Dec 12, 2010 3:13pm
Quoting naranjablue
Thanks.

Now i have a mq4 and ex4 in my expert folder. But in the journal the MT4 say: V.3.2b is an indicator and cannot be execcuted.

The 3 Tier London Breakout EA v1.3b works fine
If your running the EA then you dont need the indicator, it is built in to the EA, so just remove it from your indicator list..

Mark
  • #936
  • Dec 12, 2010 11:40pm Dec 12, 2010 11:40pm
Hi, guys! Thanks a huge for the EA.

Will smbd tell me what is the last EA - final to the moment?

I had downloaded ver. 1.3b and I have some objections to it. Ist of all this method supposed to disable trading in some days when price range is less than the defined minimum and greater than the maximum. Am I wrong?

The IInd one links to order reversal in case of bouncing. In EA this does not happen at all. Shall we use it or disable manually, it would be usefull even for backtesting.

To the author of the strategy, - Mer. I would introduce a filter to avoid false breakouts, for example Heiken_Ashi_Smoothed applied to 4H. We will trade only long in case of blue candles and only short in case of red. For manual trading it would a great improvement, I suppose.

Thank You for Your time reading this mes.
  • #937
  • Dec 13, 2010 11:56am Dec 13, 2010 11:56am
Hello everyone!

I was trying to use EA posted in this thread. However I'v spotted few disadvantages during working that EA. Could anyone please answer my questions:

  1. Does EA open only pending orders? Is there possibility to open orders by market price? For example it is hard to place pending order 3 pips from open level (not every broker allows that).
  2. Don't know why, but function "MaxRisk" doesn't work for me. I put MinLot size 0.2 and MaxRisk 5%. EA opens orders with 0.2 lot. I know I have larger account so that 5% risk would be much bigger. Does anyone know how to solve that problem? Have anyone had such problem (I couldn't found that on this forum)?

If someone could answer my questions, I would really appreciate.
Regards and all the best for all of you forex fellow traders!

  • #938
  • Dec 14, 2010 7:02am Dec 14, 2010 7:02am
Excellent day yesterday on both sets.... Indeed excellent.
Excellent BAD day to day on both sets... Indeed...
The worst is : candle break level of two of three pips = 3 orders opened...
PA retrace...
SL hited...
PA continue his way and break the other level of two of three pips = 3 orders opened... Good...
and PA RETRACE !!!
and SL hited...
Grrrrrr
Cool down : its FX !

Jacenty : for the moment :
a/ no pending orders as I know. Only 3 direct trades
b/ don't go up 0.2 lots (only if you have a hudge account !)
I haven't try MaxRisk function
Perhaps Phreddy have some experience about
My 2c
Si les cons volaient, il ferait toujours nuit...
  • #939
  • Dec 14, 2010 1:53pm Dec 14, 2010 1:53pm
Hello guyz, i just need to ask this, if i am to start an acc with $2k would be alright to trade 5 pairs but only take profit on the 1st target point only or should i only trade one currency pair and follow the trend on all target points.
I'd love to hear someones opinion pls. thanks
  • #940
  • Dec 14, 2010 3:23pm Dec 14, 2010 3:23pm
Quoting Holy pips
Hello guyz, i just need to ask this, if i am to start an acc with $2k would be alright to trade 5 pairs but only take profit on the 1st target point only or should i only trade one currency pair and follow the trend on all target points.
I'd love to hear someones opinion pls. thanks
You will blow your acct before you say 'Jack', using the martingale function of this system with 5 pairs. Best advice check the dailies and see which currency is trending then trade that pair. This is the best way to trade the EA. I personally prefer dollar based pairs. As I told a fellow trader " there are no bad EAs as such but bad traders".

On a general note never use an EA that you do not know what trading parameters it uses. That is why all this $99 EAs fail after sometime when the market condition changes and the trader does not know what went wrong based on his ignorance of the parameters of the EA.
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