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A Simple London Breakout V.2

  • #1,041
  • Jan 6, 2011 7:55pm Jan 6, 2011 7:55pm
Quote
Mer,
would you mind sharing ?

Not at all.

Quote
Ola
I searched but could not find a link to the new EA, someone could help me, since you already grateful.

The new changes I suggested haven't been implemented yet. The latest version is 1.3b I believe, and it is on post #1.
Attached File(s)
File Type: pdf Sports Betting.pdf   843 KB | 7,057 downloads
  • #1,042
  • Jan 6, 2011 9:58pm Jan 6, 2011 9:58pm
switching to new version EA on post 1 thanks
  • #1,043
  • Jan 7, 2011 3:52am Jan 7, 2011 3:52am
Been watching n reading this systems but only today i register myself as member..

I enter a short trade at 1.29747 on fxcm platform(enter a bit late due to work load) n currently -10pips..

Lets see where it lead too.. Im feeling its on counter trend today..
  • #1,044
  • Jan 7, 2011 4:49am Jan 7, 2011 4:49am
Quoting MohamedHafis
Been watching n reading this systems but only today i register myself as member..

I enter a short trade at 1.29747 on fxcm platform(enter a bit late due to work load) n currently -10pips..

Lets see where it lead too.. Im feeling its on counter trend today..
Forgot to mention that im only looking Eur/Usd.
  • #1,045
  • Jan 7, 2011 5:33am Jan 7, 2011 5:33am
Fisrst of all thanks to Mer and Squalou for this nice strategy. And also every one who has contributed to it inthis thread. Thanks all!

Quoting MohamedHafis
Been watching n reading this systems but only today i register myself as member..

I enter a short trade at 1.29747 on fxcm platform(enter a bit late due to work load) n currently -10pips..

Lets see where it lead too.. Im feeling its on counter trend today..
Did you use the ea for this trade?
I'm running it demo on eur/usd. In my setup price action didn't enter a trade yet. What are you time settings?
  • #1,046
  • Jan 7, 2011 6:39am Jan 7, 2011 6:39am
Quoting netwel
Fisrst of all thanks to Mer and Squalou for this nice strategy. And also every one who has contributed to it inthis thread. Thanks all!



Did you use the ea for this trade?
I'm running it demo on eur/usd. In my setup price action didn't enter a trade yet. What are you time settings?
Im trading manually.. I dont depend on EA cos i feels like im being lazy(pardon me) Im on EST -5
  • #1,047
  • Jan 7, 2011 8:24am Jan 7, 2011 8:24am
Quoting MohamedHafis
Im trading manually.. I dont depend on EA cos i feels like im being lazy(pardon me) Im on EST -5
No ! No ! No !

It depends of YOUR BROKER TIME versus London openning

Winter time London = GMT
IBFX = GMT
Alpari UK = GMT +1
FXXD = GMT +2

Then according your broker time you have to adjust inside EA Start Time and and End Time.

On Alpari account
Start Time = 06:00
End Time = 08:44
Session End time : 19:00

To know your broker time draw vertical line and read time
Open Market watch and look at time in the upper line of the frame = broker time.The diffrence between the two time is the time you have to add or sbstract of the time of London openning
Sure inside this thread it is better explained
Si les cons volaient, il ferait toujours nuit...
  • #1,048
  • Jan 7, 2011 8:54am Jan 7, 2011 8:54am
Quoting Bert505
No ! No ! No !

It depends of YOUR BROKER TIME versus London openning

Winter time London = GMT
IBFX = GMT
Alpari UK = GMT +1
FXXD = GMT +2

Then according your broker time you have to adjust inside EA Start Time and and End Time.

On Alpari account
Start Time = 06:00
End Time = 08:44
Session End time : 19:00

To know your broker time draw vertical line and read time...
The problem is that im using FXCM as my broker with diff trading platform.. what i see is that they are on GMT -5.. Can u confirm for me? Im not sure if im doing it correctly..
  • #1,049
  • Jan 7, 2011 12:30pm Jan 7, 2011 12:30pm
Salaam Mo

My IBFX account GMT =0
StartTime 05:00
End Time 07:44
End Session 19:00

Your are GMT -5
Then
Start Time 00:00
EndTime 02:44
EndSession 14:00

End Time can be also 08:14, then for you : 03:14
This is the only headacke setting in LBO system
Some others prefers 3000 permutations possibles : it's theirs choice !

Btw Xmph and to be honest (yes I can !) Blessing have a wonderful MM with PortionPC andMaxDDPercent to protect your equity account : that's a REAL plus.
Now with all the settings you have and you CAN have, this wonderfull EA is tooooooooo much complicated.
At one moment you loose focus : you are looking like mad for settings... and forget THE thing we are here : to make money. Point.
My 2c
Si les cons volaient, il ferait toujours nuit...
  • #1,050
  • Jan 8, 2011 3:20am Jan 8, 2011 3:20am
Mer, Ive been looking at ur post and result for all trade.. U have not updated nor post any result since.. Would love to see ur result for the week..
  • #1,051
  • Jan 8, 2011 11:43am Jan 8, 2011 11:43am
Some stats

a/ 2 last weeks
Best curs on 3 demo accounts (Alpari, IBFX, FXDD Malta)
Eur/Gb (80 % win trades on IBFX)
Eur/Ch
Us/Jpy
Eu/Jpy
Eu/Us
Worst cur
Gb/Us (awfull!)
Gb/Chf
Gb/Jpy
2 cur to trade : Eu/Gb and Eu/Ch
2 cur NOT to trade : Gb/Us Gb/Jpy

b/ on 3 last weeks : Alpari
Best curs
Eu/Gb (59% win)
Eu/Jpy (43 %)
Eu/Ch (33 %)
Eu/Us (28 %)
Us/Ch (16 %
Us/Jpy (7 %)
Worst Curs
Gb/Us (disaster)
Gb/Jpy
Us/Jpy
Us/chf

This are MY results : yours can be different...
Note : amazing results on Eu/Gb but curious that all GB/cur are so bad... for a system named London Breakout!!! If somebody have good results on Cable let me know your time Start and Time End : perhaps here is the key to better results
Have nice WE all
Note 2 : last friday have been terrific... in lost !
Si les cons volaient, il ferait toujours nuit...
  • #1,052
  • Jan 8, 2011 12:20pm Jan 8, 2011 12:20pm
Last friday was a big whipsaw day. At least for my ea trading eur/usd. I won't ever trade the ea again on nonfarm payroll days.

And I do as well have difficulty in trading gbp, couldn't find any good settings. I only have traded gbp/usd. I didn't try different time settings though. Maybe you are right and do we do have to find other time settings for the box at gbp pairs. Or maybe cable is just too undelibirate.
  • #1,053
  • Jan 8, 2011 3:01pm Jan 8, 2011 3:01pm
Thanks Bert505 for set up info please can you confirm settings on the ea :-
allow half close to true
one cancels other to true

Cheers Ade
  • #1,054
  • Jan 8, 2011 9:49pm Jan 8, 2011 9:49pm
Quote
Mer, Ive been looking at ur post and result for all trade.. U have not updated nor post any result since.. Would love to see ur result for the week..

It is very time consuming to draw up every single trade that would have been placed, especially on 9 pairs. What I may do is report the total for the week for each pair, but you need to visual to do some of the work yourself. I don't mind answering questions, but also I'm not a babysitter or here to hold anyone's hand, you gotta experiment on you own as well.

Quote
Note : amazing results on Eu/Gb but curious that all GB/cur are so bad... for a system named London Breakout!!! If somebody have good results on Cable let me know your time Start and Time End : perhaps here is the key to better results

It all depends on how you use the strategy Bert. This was this last week on Gbp/Usd which made +5173 pips using the new rules in post #990 and closing all trades down at the market close on Friday.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.jpg Size: 136 KB
  • #1,055
  • Jan 9, 2011 3:30am Jan 9, 2011 3:30am
Quoting Bert505
Note : amazing results on Eu/Gb but curious that all GB/cur are so bad... for a system named London Breakout!!!
As Mer says, Bert ...depends how you use it.

I use the London Breakout ie about 8am UK time. It matters not whether you use the 2300 to 0800 or a couple of hours before the opening.

What is important and not catered for on the EA is the pop out and pop back across the range!!
I have practiced babysitting it and moving the SL to 5 pips when the BO occurs.
Look at Mer's chart above and take the basic values - no add ons with the Martingale, and you end up with 1200 or 1300 pips. Take off the red retraces at -25 pips a time and you lose about 150 or so.

I have asked for the provision of a 5 or 10 pip stoploss so that I can just throw the EA on my chart and leave it. Unfortunately no takers.

I was hoping to go live this week but my Internet has become unreliable.
  • #1,056
  • Jan 9, 2011 5:24am Jan 9, 2011 5:24am
Quoting Phreddy
I have asked for the provision of a 5 or 10 pip stoploss so that I can just throw the EA on my chart and leave it. Unfortunately no takers.
It's already programmed in the ea to use an 11 pip or larger stoploss.

Well, to use a 5 or 10 pip stoploss, you 'll have to edit a single line in the code.

Find the next line in the mq4, (in the 3.1b version of the ea it's on line 602):

Inserted Code
  if (SLFactor < 10) SL_pips = boxExtent*SLFactor/pip;
And then change it to

Inserted Code
  if (SLFactor < 4) SL_pips = boxExtent*SLFactor/pip;
Then compile.
Now you can change SLFactor in the settings of the ea to 5 or whatever you like.

My first results in backtests with 5 pips stoploss are promising. However, I suspect in live trading a 5 pip stoploss might be too small.
  • #1,057
  • Jan 9, 2011 6:58am Jan 9, 2011 6:58am
Quoting netwel
It's already programmed in the ea to use an 11 pip or larger stoploss. ... My first results in backtests with 5 pips stoploss are promising. However, I suspect in live trading a 5 pip stoploss might be too small.
That simple? ...thanks a lot. I must re-read the guide.

I don't mind an 11 pip SL just don't want the whole range!!

Time for bed right now but it will be first order of day for me in the morning - that is around midnight GMT so plenty of time to sort it out before London!!
  • #1,058
  • Jan 9, 2011 7:25am Jan 9, 2011 7:25am
Quoting ade_fx
Thanks Bert505 for set up info please can you confirm settings on the ea :-
allow half close to true
one cancels other to true

Cheers Ade
True
False
Nice WE
Si les cons volaient, il ferait toujours nuit...
  • #1,059
  • Jan 9, 2011 10:03am Jan 9, 2011 10:03am
Thanks Merc for ur reply but i wasnt actually looking for a babysitter..
I only wish to see ur result for the week..

Maybe u can help me once to post a result for Eur/Usd?
  • #1,060
  • Jan 9, 2011 11:33am Jan 9, 2011 11:33am
Quoting Phreddy
As Mer says, Bert ...depends how you use it.
Guys, making good profits with the LBO is not simple. Unlike what Bert and some other new guys may think, every aspect of the LBO will have a major impact on your results:
- MaxBox Size and MinBozSize will basically dictate how fast martingaling will happen
- BE+ at TP1 will determine when you are ready to cut short a trade and so eventually enter a whipsaw
- Time .... probably the most unlikely parameter you can find by hand. Bert, you don't like using computer programming for 3000 permutations .... how many will you go through unreliably by hand before finding the proper setting ?
- Not only time start and end, but also on what time frame
- Martingale sequence: how fast you can recoup and loose your account

These 4 parameters are only based on the original strategy and from my experience, these are all dependent on your very specific initial balance.
So, you're looking for quick bucks ... like everywhere else - no answer. You'll have to work the numbers for you specific case.

New parameters and variation have been added along the way and these can be beneficial ... but increase complexity.

Finally, if you ever consider using the BigDoG 5min confirmation (as I saw Bert you are also new on that BO strategy ... and it's a good thought), then complexity increase much, much further.

All in all, find the right balance for your account.
I'm up 70% since september 2010 with the LBO (and few custom modifications) for a max DD of 8% on a real account ... coz what matters is making $$ - that's eventually the only point I agree on with you Bert.

Keep Looking. Mer gave us everything we need ... and keeps doing it.
Thank you Mer.

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