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A Simple London Breakout V.2

  • #1,001
  • Edited 8:10am Jan 3, 2011 7:52am | Edited 8:10am
Hi Mer
Small problem
In your post 990 you attach a LBOEA version v3.1 and in first post of this so interesting thread the EA version is 3.2b = ????
I am testing also LBOV6.0 and the channel made between Level and Entry trade is one of the best thing to avoid multiple SL. In my test on 8 curs channel is between 8 and 14 pips.
My 2 c
NB As deep as I can see the pict of your post 990... (yes the same!) if you had a 15 pips channel you should avoid at least one of the two SL. I posted before in this thread what I think (huuuuuum!) about.
Si les cons volaient, il ferait toujours nuit...
  • #1,002
  • Jan 3, 2011 9:54am Jan 3, 2011 9:54am
Quote
Does any one that has been trading this system for at least a month or 2 have any result statistics they can share? Through backtesting it looks like a very good system, however I'm curious how it has actually performed. Thank you!

Best thing to do is manually go back through the charts and see for yourself. I don't know of anyone using the EA live as of yet due to the large account size you'd need for safety. I did a quick visual backtest on Eur/Usd for the month of December 2010 and it would've made roughly 25,000+ pips (not including any spreads) and the highest multiplier I hit was 89 (.89 lots per trade if using .01 lots as your starting lot size).

Quote
In your post 990 you attach a LBOEA version v3.1 and in first post of this so interesting thread the EA version is 3.2b = ????
This is the indicator, not the EA. I use this version because I didn't like the changes made in the later versions.

Quote
I am testing also LBOV6.0 and the channel made between Level and Entry trade is one of the best thing to avoid multiple SL. In my test on 8 curs channel is between 8 and 14 pips.
Can you post the indicator and maybe a pic to show us all what you're looking at?
  • #1,003
  • Jan 3, 2011 10:14am Jan 3, 2011 10:14am
Sorry, whats "EA"? I read the first post and didnt see a definition of what it ment. thx.
  • #1,004
  • Jan 3, 2011 10:30am Jan 3, 2011 10:30am
Hello Squalou,
thank you for your EA that i'm using with a demo account.
Could you please create another version of the EA with the 2 functions (TrailingStopPips and TrailingStopStep) activated ?
Thany you in advance for your support.
Best regards.
Mauro
  • #1,005
  • Jan 3, 2011 10:52am Jan 3, 2011 10:52am
Quote
Sorry, whats "EA"? I read the first post and didnt see a definition of what it ment. thx.

Really? You've been a member for over 2 1/2 years and you don't know what an EA is? Okay, by definition, an EA (Expert Advisor) is an automated program that is used by the trading platform software (Metatrader4) to manage positions and orders automatically.
  • #1,006
  • Edited 12:27pm Jan 3, 2011 11:14am | Edited 12:27pm
Quoting mer071898

Can you post the indicator and maybe a pic to show us all what you're looking at?

In attach pict of LBOV6.0
In 1/ no Entry in 2/ Entry trade
In 3 Tier it should be a real SL in 1/ and after a TP in 2/...

In 3Tier Trade is trigged directly at Level up or Level down of the Box
In LBO V6.0 the trade is trigered at Level + X pips depending of Entry Factor inside LBOV9.2 indi
I think (huuuum) that this "channel" should be a real plus for 3 Tier even if you loose X * 5 trades at the beggininng. But it's not a loss but a non profit...
Hope you understand my poor English...

NB Uploaded Indi LBOV9.2
Attached Image (click to enlarge)
Click to Enlarge Name: lboexamplechfjpy.gif Size: 45 KB
Attached File(s)
File Type: mq4 London BreakoutV9.2.mq4   25 KB | 1,914 downloads
Si les cons volaient, il ferait toujours nuit...
  • #1,007
  • Jan 3, 2011 11:30am Jan 3, 2011 11:30am
Quoting mer071898
Really? You've been a member for over 2 1/2 years and you don't know what an EA is? Okay, by definition, an EA (Expert Advisor) is an automated program that is used by the trading platform software (Metatrader4) to manage positions and orders automatically.
.....thanks.
  • #1,008
  • Jan 3, 2011 11:40am Jan 3, 2011 11:40am
I'm not quite understanding how you're drawing these blue bloxes for your entries...

"A good friend suggested that in may be due to the fact that I was starting too early (the first strategy had the box end at the Frankfurt open at 7:00 GMT) and that I should include that whole hour and start the box right at the London open because we were probably getting false spikes from the Frankfurt open. He also suggested that maybe try and use the old entry point as a target instead. I will have to give some credit to rjlacha as I then remembered he open a thread a while back and was using the edge of the box as his entry point and I thought that could possibly work. "

  • #1,009
  • Edited 12:21pm Jan 3, 2011 12:04pm | Edited 12:21pm
Quoting big_pipin
I'm not quite understanding how you're drawing these blue bloxes for your entries...


a/ Why not ? it's my choice...
b/ If PA is inside I am positive... in one glance
c/ Do you want it in red ? Green ? Violet ? Lavender ?
It's your choice...

That was the first post
But reading another time Big_pipin was asking me HOW I was drawing the blue box...
a/ My apologies Big_pipin... Sometimes when you "use"a language that's not yours you made mistake... It's my bad !
b/ to modify colors you go inside EA and....modify colors !
These pict come from the other thread about London Bo (Mer and Squalou) working with an indi (V9.2) and an EA (V6.0)
Bert
Si les cons volaient, il ferait toujours nuit...
  • #1,010
  • Jan 3, 2011 2:34pm Jan 3, 2011 2:34pm
first post on FF
mer
in your experience backtesting visual or otherwise in any pair what is the maximum mutiplier have you seen this system use. will try to do some homework myself to see how often they happen.
fantastic simple system thanks...
  • #1,011
  • Jan 3, 2011 3:20pm Jan 3, 2011 3:20pm
Quote
I'm not quite understanding how you're drawing these blue bloxes for your entries...
You set you start and End times in the indicator's parameters and the indicator will draw the boxes and levels for you. I hope that's what you're asking.

Quote
in your experience backtesting visual or otherwise in any pair what is the maximum mutiplier have you seen this system use.
The max I've visually seen, before these last changes, was 1597 twice going back a full year (can't remember which pair it was though). With the new changes, I've not seen anything past 89 yet, but I'm still doing a lot of calculating at the moment.
  • #1,012
  • Jan 3, 2011 4:58pm Jan 3, 2011 4:58pm
Big_Pip

Blue box
Inside EA settings of the colors
BoxColorOK : Teal
BoxColorNOK : Red
BoxColorMax : Orange
LevelColor : DarkKhaki
SessionColor : 9,9,38 (custom that is the color of the blue box which ends at SessionEnd)
ProfitColor : None

Like it ?
My 2c
Bert
Si les cons volaient, il ferait toujours nuit...
  • #1,013
  • Jan 3, 2011 11:48pm Jan 3, 2011 11:48pm
Quoting mer071898
You set you start and End times in the indicator's parameters and the indicator will draw the boxes and levels for you. I hope that's what you're asking.

The max I've visually seen, before these last changes, was 1597 twice going back a full year (can't remember which pair it was though). With the new changes, I've not seen anything past 89 yet, but I'm still doing a lot of calculating at the moment.
I dont use metatrader, I use thinkorswim, and I'm on central time. I suppose that may cause an issue.
  • #1,014
  • Jan 4, 2011 12:33am Jan 4, 2011 12:33am
Quote
I dont use metatrader, I use thinkorswim, and I'm on central time. I suppose that may cause an issue.

I really don't why you'd be following this thread then because if you're not using MetaTrader you're just going to be spinning your wheels since all the indicators and EA's are coded specifically for MetaTrader and they really don't translate well to other platforms. ThinkorSwim is really not Forex friendly anyhow as it's geared more toward securities and options trading.
  • #1,015
  • Jan 4, 2011 4:30am Jan 4, 2011 4:30am
Hi Mer,
Thanks for the great discussions, if this question has been asked before I apologies in advance, what would you recommend as a SL point if we do not wish to use martingle or hedging.
Don't stop believing
  • #1,016
  • Jan 4, 2011 9:56am Jan 4, 2011 9:56am
Quoting mer071898
I really don't why you'd be following this thread then because if you're not using MetaTrader you're just going to be spinning your wheels since all the indicators and EA's are coded specifically for MetaTrader and they really don't translate well to other platforms. ThinkorSwim is really not Forex friendly anyhow as it's geared more toward securities and options trading.
Well....so much for that i guess.
  • #1,017
  • Jan 4, 2011 2:09pm Jan 4, 2011 2:09pm
Quote
what would you recommend as a SL point if we do not wish to use martingle or hedging.

If you're trading manually, you can use whatever size you desire. Some will use the opposite side of the box, like me, and some use a smaller stop like Bert505 and some others.

Quote
Well....so much for that i guess.


I'm really not trying to burst your bubble here, but I hate seeing people waste time and energy on a concept that they're not going to be able to follow and understand correctly. The threads here are for your benefit, but you must use the proper tools to be able to stay in the loop.
  • #1,018
  • Jan 4, 2011 2:29pm Jan 4, 2011 2:29pm
Quoting mer071898
If you're trading manually, you can use whatever size you desire. Some will use the opposite side of the box, like me, and some use a smaller stop like Bert505 and some others.



I'm really not trying to burst your bubble here, but I hate seeing people waste time and energy on a concept that they're not going to be able to follow and understand correctly. The threads here are for your benefit, but you must use the proper tools to be able to stay in the loop.
...

Oooops ! Well said ! Sorry Big_pip here you are in the middle of the sea and you SHOULD know how to swim...
Developp yourselve tools for your plateform or change for a MT4 broker....

Btw to day have been a great day for LBO3Tier and LBOV6.0.... Great day around 900 pips in demo.... I know that will have bad days but for now it was a great day... Let's confirm all that in the near future

Mer one question : does EA move BE at each level in case of 5 trades
(when level 1 is reached 4 trades go BE +X pips, when level 2 is reached 3 trades go Level 1+x pips, when level 3 is reached 2 trades go level 2 + X pips and so on)
Si les cons volaient, il ferait toujours nuit...
  • #1,019
  • Jan 4, 2011 8:37pm Jan 4, 2011 8:37pm
[quote=mer071898;4286475]If you're trading manually, you can use whatever size you desire. Some will use the opposite side of the box, like me, and some use a smaller stop like Bert505 and some others.



Thanks Mer, btw are you also coding the new changes to the EA?
Don't stop believing
  • #1,020
  • Jan 4, 2011 9:04pm Jan 4, 2011 9:04pm
Quote
Mer one question : does EA move BE at each level in case of 5 trades

Yes, stops are moved for all open trades. But when you go through Target 2 and beyond there are no "+X pips" added, just to the exact price of the lower level.

Quote
Thanks Mer, btw are you also coding the new changes to the EA?

I haven't had a response back from sqaulou regarding the info I sent him, so I hope he got it and is working on it. If I don't hear anything from him by the end of the week, I'll try and see where he's at. I know he is working on more than one thread so it may take a little time.
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