7am-9am Big Dog USD Breakout Strategy

good to see you back mate.

if it is possible attach one of your charts,

i would like to compare it with my chart.

good luck

Thank you fxaus

Yes I can do that. Im in a few trades right now. When im done I will.

sure mate, take your time

Hi Folks

It's been a while since I last visited this thread, and I see the manaul strategy appears to have moved on.

Can somebody please update me on the latest strategy or point me to the relevant page.

Thanks

WFX

Hi Eric,

I was looking at a thread this one http://www.forexfactory.com/showthread.php?t=293904

and wondered if this is an alternative to showing us how your method works. It is safer and easier for you. Just go through all your strategy and record it and put them on utube or any similar programme. We then watch them and ask you questions later via this forum. Just a thought, really up to you.

Thanks

i think this strategy is very good, and im interested to try this strategy out. but the thing is, mbtrading doesnt let me execute a transaction in same currecy pair that is buying and selling stop order, heding is not allowed, any idea how to overcome this, i was thinking if the price is close between high and low on the us open, wouldnt be so cool to alert me, let say make a sound that the price hit the said level? anyone can help me ammend this indi. thanks. also i would like to clarfy the correct time best for this strategy, you say 7 pm - 9 pm, but now the usa open is 8:30 do i also need to adjust the time according to indi? please confirm

is this thread still active?

Hi all!

First of all, my apologies if this idea has already turned up. I have read the first 10 pages and an idea struck me before I could finish reading all 200 ++ pages.

Secondly, I'm a newbie. Feel free to shoot me down. I am still learning.

So here is what I propose.

Follow the Big Dog Setup. With the high and low between 7-9 p.m. being drawn.

Lets say the range is 40 pips.

Place a buy AND sell order at the top.

Place another buy and sell order 40 pips above that.

Place another buy and sell order 80 pips above the original order.


Place a buy AND sell order at the bottom.

Place another buy and sell order 40 pips below that.

Place another buy and sell order 80 pips below the original order.

TP for all will be the range; in this example that will be 40 pips.
SL for all orders will twice the range; in this example that will be be 80 pips


You can say this is a grid trading system based on the Big Dog.

Only problem I foresee, in a strong trend, I will make a loss. But based on my limited experience, most of the time, the market is ranging and was hoping to capitalize on that and take the profits and/or losses as they come.

Like I said...newbie here...still a lot to learn...so feel free to shoot me down.

But if this has given anyone food for thought...let me know.

I will forward test this once I here the input of all the experienced traders here.

Thanks!

I have a feeling this strategy will fail tonight.

Have placed a sell position. Lets see what happens.

gday everyone,
i have a question for sonic. I would like to know what the name of the indicator is that you have on some of your charts.
Its the one that plots dots on the highs and lows.
Cheers
Kane

Great looking system. I see a lot of potential with trading during the London. Thanks for sharing it with us.

Hi,
this is another indicator for breakout strategy. Sorry if it's double posted, I implemented it to cope with shift of server time vs. particular local time also in history, i.e. shift is not statically hardwired in module (except server timezone). It uses TZDBhelper library (http://www.2p.cz/files/2p.cz/downloa...tzdbhelper.zip). Source code can be downloaded from http://www.2p.cz/files/2p.cz/downloa..._indicator.zip. Note the indicator validity in chart ends around end of NY session. I'm going to implement a strategy expert based on this indicator (if you know reference to a working one by heart please post link, thanks).

TMa

http://www.2p.cz/sites/2p.cz/images/..._indicator.png

Hi,
Has anybody modified this indicator for the TradeStation platform? If anybody hasn't, is it possible that somebody could help me with the coding?
Ron

well, its been a long time since this thread was started. i guess, after all the tweeks and improvements the system has failed to work in the long run.

in my limited experience with this is, although breakouts do occur certain days and u can make pips, there are days where breakouts occur then fail, i.e. reach the opposite end of the breakout zone. you lose massive pips then. of course u only need to have 2-3 days of losers in a row, and that has happened, and then u are back to square one. in my opinion this method aint gonna cut it. if anyone wants to prove me wrong, please do so...

Hi guys, im new here, a rockie and this is the first i've read here, too. I checked this strategy for many times. Thanks for share

but i think the first we can confirm the trend for this 2 hour relatively and then go long (if trend's up) or short (if trend's down). SL/TP = 1:1 with the length equals to the length of the trend.
Sorry for my poor english.

Hello Whatfx..

I think the original system 7-9am system could be a failure. I'll tell you I learned the concept of breakouts from this very thread... I still trade breakouts very successfully and it has stood the test of time.. I think if you applied a little bit of sam seiden (Supply and Demand zones) or S/R lines you will see that breakouts are very profitable..

I like the simplicity of this method.
Why not combine this method with trend analysis. e.g. 24/08/12 the 4hr trend on the eurusd was still up so I would only trade a buy order. I would use the original strategy 15 pip tsl strategy on this occasion as intraday the trend peaked and started moving down, the trade made around 20 pips.
I already trade a breakout method with the gbpusd on the euro/london open. I only take trades in the direction of the trend, this increases the hit rate.
Knowing what crosses/dojis mean is helpful too because when you see them on the daily and 4hr charts they are much more powerful and trading against them is not wise. Google it if you dont recognise the chart pattern name.
I like early breakouts because if the markets start to trend then I can catch them really early on. On top of breakouts I also trade using simple well known indicators like the MacD and cci again only taking trades in favour of the 4hr trend so sometimes i am waiting for the right trade setup to come along. Patience is important in my method as often no trade atall is the best action to take.
Here is a tip for identifying a strong trend on the eurusd. First check the trend on the 4hr chart and then check the audusd trend 4hr, if they agree then the trend is much stronger. If they don't then it is likely the trend is weaker and price will range or pull back.
I know im divulging off a bit now but there are so many successful methods out there but so many traders seem to over complicate them. Keep it simple! For example I know traders who are using the strength of the usd and jpy to create a 10+ currency hedge. If the jpy and usd are strong then you short the basket, if they are weak you long the basket, take profit when 6 of the pairs are in profit and then open a new basket going back to step 1 simple.
Please message me if any of you would like to ask any further questions
FxB

Hey forexbloke.. you're dead on! I love trading breakouts.. I mark my zones off the 4h chart then drop down to the 1h to place my trade.. I trade pure price action with supply and demand zones.. I would not rely on indicators I think they are useless.. If I get time within the next few days I will post some examples to show how powerful breakouts are... Some good reading material as forexbloke suggested would be steve nison: candlestick charting.. and sam seiden: supply and demand... all free material

There are many many different ways breakouts can be traded.. I personal have found a way to make 20-50 pips every day.. I have traded breakouts for years now and would not consider trading anything else! I posted on here a year ago or so trying to explain how I trade breakouts... the only thing that has changed is the time frame and added Supply and demand lines.. I'm a full time trader and make my living trading breakouts boophaty style lol...

To really grasp the way I trade you have to understand price action and candle formation along with zones...If you don't know if a pair is bull, bear, or ranging the way I trade may not be for you.. I'm no guru nor a mentor.. I just love trading... If there is anyone that really loves trading breakouts and still don't quite understand I will help you become successful..