A Simple London Breakout V.2 | Page 54 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

SIMPLE EA for a simple method needed!! 2 replies

A Simple London Breakout 1,055 replies

Another Simple London Breakout System (with a twist) 46 replies

Simple london breakout v.9.2 error 1 reply

Need help with this simple london breakout EA 2 replies

Attachments: A Simple London Breakout V.2
Exit Attachments

A Simple London Breakout V.2

  • #1,061
  • Edited 5:25pm Jan 9, 2011 5:06pm | Edited 5:25pm
Hi Xpmh
Unfortunately I am not so new on BO...
I was on that last year ... well... in 2009 exactly in October 2009.
In attach file a small program I made in Excel at that time : open it, go in Properties, General index and look at the date of creation of the Excel Book : 04 October 2009... It is a macro to calculate entry levels sell and buy
With an indi at that time named ant-GUbreakout...
Well.. old time...
Hard to look at prices at midnight, put pending orders (sell and buy) on X curs, modify them in the morning... etc..
Guys here we are very lucky and I am also very lucky to have EA + Indi that do all that stuff !!!!!
Btw I don't want here to start a nuclear fight of who have truth , who don't have... War always end by peace : then lets start by peace !
I will leave it like that and will publish my results good or bad whatever...
Bert
NB : BTW you have nice results with LBO ! Your settings ????
NB2 : Think that my small program still works ! (Office 2003)
Attached File(s)
File Type: xls BreakOutBibi3.xls   106 KB | 758 downloads
Si les cons volaient, il ferait toujours nuit...
  • #1,062
  • Jan 9, 2011 5:15pm Jan 9, 2011 5:15pm
Quoting MohamedHafis
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?
just rude.

download it.
test it on demo.

and come back with some manners.

you cant rely on anyone but yourself.
  • #1,063
  • Jan 9, 2011 9:15pm Jan 9, 2011 9:15pm
Quoting xmph
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
X.
I'm requoting myself to insist on one aspect I believe is fundamental to be successfull with the LBO: Correctly using MaxBox and minBox sizes will dictate how fast martingaling will happen, but if carefully chosen, it will also dictate how often you may hit TP2 and TP3 at high enough martingale factors to actually make profit.

So, in a world of peace and respect, here is additionnal information:
- backtest the LBO without martingale over the desire period of time
- Use the desire Min/Max, or simply Max box size
- Apply the law of series to determine an approximate Win/Loose serie for the entire period
- Determine the max DD you are willing to suffer
- Fit the martingale on max DD + Serie function to maximize return at higher martingle factor

..... loop and check PAIR specific ADR during backtested period in order to improve on the MinBox and MaxBox sizes ... and perform again the previous steps.

This is one deterministic way to profitably use the LBO.
I see the LBO as a good strategy to handle the unpredictability of the market and make profit out-of it ... but including some simple stats background cannot hurt too much.

X.

PS: Bert, you should learn how to fly, you'll realise seing the world through someone's eyes might help understanding que la connerie, c'est l'incomprehension.
  • #1,064
  • Jan 9, 2011 9:31pm Jan 9, 2011 9:31pm
Quoting xmph

PS: Bert, you should learn how to fly, you'll realise seing the world through someone's eyes might help understanding que la connerie, c'est l'incomprehension.
Brilliant.
  • #1,065
  • Jan 10, 2011 7:12am Jan 10, 2011 7:12am
Seems that some people don't like my posts : well... simple : I will not post any more...
Bye
Bert
Nb La connerie wins...
Si les cons volaient, il ferait toujours nuit...
  • #1,066
  • Jan 10, 2011 2:59pm Jan 10, 2011 2:59pm
Hi everyone

First post on this thread but hopefully can contribute something useful.

I trade a very similar strategy to this but only GBP/USD. I use progressive staking as well.
Do not wish to change the excelllent content but would just mention three filters that have kept me out of many of those whipsaw days that can have you soiling your pants.
The first is not to trade on those days when there are no significant news releases for both the GBP and USD. Look back and you will see how often these days have below average ranges and many false breaks outs.
The second is not to take a trade unless a candle closes outside of the 'box' on the five minute chart. Many of the false breakouts are short 'spikes' that are probably stop hunts and 'sucker' breaks. No problem for me adopting this rule as I trade manually.
The third is never trade on the day of the non-farm payroll release. The market is always nervous ahead of this release and rarely makes a concerted move in the London session.
Nice strategy though and obviously profitable . Good luck to all.

  • #1,067
  • Jan 10, 2011 5:13pm Jan 10, 2011 5:13pm
Quoting Bert505
Seems that some people don't like my posts : well... simple : I will not post any more...
Bye Bert Nb La connerie wins...
Your choice Bert but you shouldn't allow people to push you off. I don't think that anyone means to!!

Savvez vous plantez les chouix ... That's the limit of my French!
  • #1,068
  • Jan 10, 2011 5:21pm Jan 10, 2011 5:21pm
Quoting onetowatch
Hi everyone

First post on this thread but hopefully can contribute something useful.
[left]I trade a very similar strategy to this but only GBP/USD. I use progressive staking as well.
Do not wish to change the excelllent content but would just mention three filters that have kept me out of many of those whipsaw days that can have you soiling your pants.
The first is not to trade on those days when there are no significant news releases for both the GBP and USD. Look back and you will see how often these days have below average ranges and...
Excellent advice especially concerning the 5 min time frame. Pin/upthrust bars are used to take out traders who buy/sell range breaks.
  • #1,069
  • Jan 10, 2011 6:06pm Jan 10, 2011 6:06pm
Quoting onetowatch

The first is not to trade on those days when there are no significant news releases for both the GBP and USD. Look back and you will see how often these days have below average ranges and many false breaks outs.

The second is not to take a trade unless a candle closes outside of the 'box' on the five minute chart. Many of the false breakouts are short 'spikes' that are probably stop hunts and 'sucker' breaks. No problem for me adopting this rule as I trade manually.



For first, do you know of a way to automate this? Backtesting news filter, and then news parser for specific words ? I think I heard of a website that actually post news rating but I can't remember where that is ?

For second, if you wait for a 5min to close, do you actually wait for a reverse confirmation on the 5min, or do you take any signal after that 5min closing ? I would agree with the reverse confirmation on 5min (that is also used by the BigDog thread at FF), I would not be too sure about the second option, specifically if the range is over that of BE+.

I will be coding the 5min confirmation soon on my LBO version and will let you know. I've been willing to include that 5min reversal/confirmatio concept for a long time to see its interest for the LBO .

X.

  • #1,070
  • Jan 10, 2011 7:45pm Jan 10, 2011 7:45pm
Quoting onetowatch

The second is not to take a trade unless a candle closes outside of the 'box' on the five minute chart. Many of the false breakouts are short 'spikes' that are probably stop hunts and 'sucker' breaks. No problem for me adopting this rule as I trade manually.
Good luck to all.[/left]
im sorie but is there anybody kind enough to explain what it means?
  • #1,071
  • Jan 10, 2011 9:59pm Jan 10, 2011 9:59pm
Quoting MohamedHafis
im sorie but is there anybody kind enough to explain what it means?
My understanding of a 5Min retrace/confirmation scenario: (dirty illusrtation but it serves the purpose I guess)

1. Pull out a breakout box on a 15Min chart.
2. PA on 15Min is the trigger for the 5Min retrace/confirmation process
3. If PA Hit our trigger on 15Min, go on the 5Min
4. First step is to validate proce consolidate above our BO (complete 5Min bar close outside BO)
5. upon 4, wait for a complete retrace inside the BO on the 5Min
6. Once retrace is confirmed, use 5Min to enter the final trade upon BO
7. keep Monitoring on 15Min as usual.

In addition, it is said that the bottom of the 5Min retrace can be used as a new StopLoss (but then to what TP1 extent, that is the question eh eh ).

none of this is new. It has been used a lot in BO strategies. It is in my to-do (actually to-try) stack - but got a little lazy. I'm glad someone brought this up again.

Is this what others understood by the 5Min confirmation ?
X.
Attached Image
  • #1,072
  • Jan 11, 2011 12:34am Jan 11, 2011 12:34am
Merc, May i know whether can a 10pip buffer added to the EA?
  • #1,073
  • Jan 11, 2011 4:50am Jan 11, 2011 4:50am
Quoting MohamedHafis
Merc, May i know whether can a 10pip buffer added to the EA?
Without modifying the code, what you can do is adjust LevelsResizeFactor in settings.
Of you make it 1.1 for example it will scale the size of the box and the SL and TP levels with 10%. That is 5% on the top of the box, and 5% on the bottom.
  • #1,074
  • Jan 11, 2011 1:19pm Jan 11, 2011 1:19pm
One of my filters is not to trade on 'no news days'
Today no GBP news and only minor USD.
As expected, a low range day (so far) with two stop outs either side of the box.
  • #1,075
  • Jan 11, 2011 1:44pm Jan 11, 2011 1:44pm
While I agree that the NFP announcement day is a difficult day to trade, I have been very sucessful on those days trading 2 hours after the announcement. Seems to get all the fluff out and careful reading of all the numbers seems to generate consensus about that time. I daytrade only and get out a half hour before the NFP.
  • #1,076
  • Jan 11, 2011 3:26pm Jan 11, 2011 3:26pm
Quoting onetowatch
One of my filters is not to trade on 'no news days'
Today no GBP news and only minor USD.
As expected, a low range day (so far) with two stop outs either side of the box.
Do you qualify a "minor USD" based on news Volume, or Announcement relevancy ?

Does your 5min confirmation match that I illustrated above?

Thanks for the info HedgeGuy ... I've never been a big NFP guy so any insight is appreciated.

X.
  • #1,077
  • Jan 11, 2011 6:56pm Jan 11, 2011 6:56pm
Xmph, Do u mind helping me on this? http://www.forexfactory.com/showthread.php?t=275863
Do give me some review and feedback..
  • #1,078
  • Jan 11, 2011 11:18pm Jan 11, 2011 11:18pm
Do you qualify a "minor USD" based on news Volume, or Announcement relevancy ?

Announcement relevacy

Does your 5min confirmation match that I illustrated above?

Yes

Nevertheless you will see that by strictly using the rules as specified on page one and by using the progressive staking recommended, yesterday would still have returned a profit (after two losses). By using my filters I am trying to reduce the stress inherent in martingale staking by only trading on days when the big market movers are interested in the currency pair.
  • #1,079
  • Jan 12, 2011 9:52am Jan 12, 2011 9:52am
Ive become very facinated by this strategy and very aprreciative of the members on this thread who continue to tweek it and make it better. I am a volume spread trader but have been testing some break out methods that involve this time of the day and box spread. The difference is I am applying volume to the strategy to add confirmation to my innitial entry. I will show some examples using the current Updated strategy mer uses and post some charts when I get back to my main machine at home. Thanks again everyone.
  • #1,080
  • Jan 12, 2011 10:42am Jan 12, 2011 10:42am
Hi Mer,

I would like to know first of all what timeframe to set the indicator for 3 tier london breakout and secondly the EA does now work, when i backtest it does not give any results at all. For example the magic no is 0.

Of all the trade result mt4 screens that you've posted, are all of these traded manually, if yes for example if you observe eurusd, how many trades do you open for example if the first candle either touches buy or sell entry line.

Please help explain. I've kind of gone through most of the thread in here but can't find the explanation for my question..

no doubt this is an amazing system.

Bala
0 traders viewing now