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A Simple London Breakout

  • #941
  • Mar 29, 2011 6:36pm Mar 29, 2011 6:36pm
HI Sqaulou,
firstly let me thank you for your great work on the indicators and EA,s for this and other systems, which I find very profitable.
I have a request regarding your V3.2b with 5 tp indicator, I noticed that you have solved the Monday morning box on your latest EA is there anyway you could do the same for the indicator as I trade manually?
Also would it be possible to code more than 5 tp,s?

I hope I am not asking too much from you!


Thank you!
  • #942
  • Mar 30, 2011 2:19am Mar 30, 2011 2:19am
Hi all
Please can anybody help me with preferences for the last EA? I know that indicator must be in the graph. We use 15m tf. But when i try it sometimes take very strange order what i don't understand. Can somebody send a preferences?
Sorry for me English.
Thank you for help.
  • #943
  • Mar 31, 2011 2:30am Mar 31, 2011 2:30am
Has anyone got any concrete results for this method. The work on the EA and indicators looks impressive but results so far dont look that impressive however I havent tracked it for long.

May be the way I have it set up. Anyone have any favourite approaches with it?

Thanks in advance

Splurge
  • #944
  • Edited 5:52am Mar 31, 2011 5:42am | Edited 5:52am
I have a few criticisms of the initial parameters for this strategy. The size of the box has not been addressed properly. The placing of the box in time seems arbitrary. Currency pairs vary widely in ATR (average true range) and not only that, a currency pair can become extremely volatile (trending strongly), or extremely stable (ranging). I find it difficult to come to terms with "don't trade if the box is over 40 - 50 pips". For example, if the box was 40 pips for EUR/GBP that would be a different trading risk to GBP/USD, which has twice the range.

A wise trader would at least draw a few trend lines and look at some support and resistance levels. What if the box is within the last few days trading range? (Not usually good) What if the box height is very small compared with the average? (Usually good).

The very mention of a martingale strategy send shivers through me as it goes against money management principles and could lead to a margin call very quickly. Really, a martingale approach is an admission of a consistently poor strategy.

All in all an interesting thread and potentially a very profitable strategy, but like the author states on many occasions, should be tested and adapted as required before applying any risk.

I should add that the foregoing is only my opinion, based on my personal trading experience of this type of break out. I have not tried this strategy or the EA and I believe that this type of strategy can be very profitable.
Gone to a better place
  • #945
  • Mar 31, 2011 5:51am Mar 31, 2011 5:51am
I follow a number of strategies that do not conform to trading the 'open' so to speak although again I am following a number of them to hopefully come across one that works for me.

I presume some people on here have been successful with this approach otherwise I cannot believe all this work would have been done to achieve nothing. I am hoping someone will come forward to share their experiences and preferred adaptions to this approach.

Thanks Again

Splurge
  • #946
  • Mar 31, 2011 12:52pm Mar 31, 2011 12:52pm
Hello,

I need some help on where to find which thread I can find the procedure on setting up the London Breakout Trading package on Mt4. I am just confuse on which files goes to which folder. I would really appreciate the assistance.

I download the complete London breakout package located on the first thread.

Thank You
Henry T Danan
  • #947
  • Apr 2, 2011 5:31am Apr 2, 2011 5:31am
Quoting henrydanan
Hello,I need some help on where to find which thread I can find the procedure on setting up the London Breakout Trading package on Mt4. I am just confuse on which files goes to which folder. I would really appreciate the assistance.I download the complete London breakout package located on the first thread.Thank You Henry T Danan
I take it that you mean the first post Henry?
You need to find out which is an indicator and which is an EA.
I assume that you know where the indicators go and where the EAs go.
Sorry that I cannot otherwise help, I use the EA off the second thread.

Otherwise PM Bert505, he is a really helpful chap.
  • #948
  • Apr 6, 2011 3:01am Apr 6, 2011 3:01am
Bonjour Squalou,

J'aurai des question sur ces 2 EA et voir mème une demande pour ajouter une option. Est ce que l'on peut se voir sur skype?

Merci @+
  • #949
  • Apr 6, 2011 9:53am Apr 6, 2011 9:53am
Quoting Bert505
All LBO Fans

On last Squalou version you need always the LBO indi to visualize the levels
Hi Bert505,

I downloaded the latest version and works well, but only on a graph. When I try to download to another chart always gives me this message.

LB EA: EURUSD Some Indicator SETTINGS are missing;
Please verify objPrefix in the Indicator and the EA;
(objPrefix is currently set to LB- in the EA)



Have tried several times and for different charts and other pairs, but the message is the same, I can only have one graphic at a time.
Do not know if I did something wrong or if I have to download some more indicator.

if you or someone can help.

grateful in advance
  • #950
  • Edited 11:06pm Apr 6, 2011 10:24pm | Edited 11:06pm
Quoting fungraphic
Bonjour Squalou,

J'aurai des question sur ces 2 EA et voir mème une demande pour ajouter une option. Est ce que l'on peut se voir sur skype?

Merci @+
Fun

Tu es sur un Forum anglais dont la langue d’échange est l'anglais. Then you MUST speak english...

Ok guys let's work

3Tier the "other" EA works stand alone. You will find it on the other thread of Mer
London Breakout EA V6.0 (LBOEAV6.0) is an EA to be installed in the Expert folder. This Ea works with an indi to be put in Indicator folder : London BreakoutV9.2. LBOV6.2 cant work without this indi. The settings are in both indi and EA

London Breakout EAV7.2 can be used with indi London Breakout V9.2.
Or without : then settings have to be put inside EA. But you need to have the indi it to visualize the box and the levels. (If you didn't get it post questions : I"ll try to answer)

LBOEAV7.2 has also a new setting I asked to Squalou : a SL. For the moment I haven't find the right figure for these new set. I came back to the "normal" SL (other side of the box). When I get more time I will test a hard SL of 15 pips : when cur is stalling better to cut early than to go in the wall on the other side of the box...

For the momen market is a bit crazy on all curs... !

Good trading
Si les cons volaient, il ferait toujours nuit...
  • #951
  • Apr 29, 2011 1:56am Apr 29, 2011 1:56am
LBOEAV7.2 has also a new setting I asked to Squalou : a SL. For the moment I haven't find the right figure for these new set. I came back to the "normal" SL (other side of the box). When I get more time I will test a hard SL of 15 pips : when cur is stalling better to cut early than to go in the wall on the other side of the box...

Good trading[/quote]

Is it possible to get a sound alert when the price breaks the box?
  • #952
  • Edited Jul 19, 2011 2:28am Jul 18, 2011 10:07am | Edited Jul 19, 2011 2:28am
Quoting squalou
V7.0 version of the EA...

You are not dreaming...
Almost a year after the last posted V6.0 version, and after having moved to the "3 Tier" EA, i am giving you a new version of this EA...

The reason is a request from Bert505 to add "SL pips" in the EA.
The EA was setting the SL to the box extent, which is too far away in many occasions, where you would manually close the trade long before it hits the opposite box edge.

So, here a version that will allow you to set your SL in pips ("SLpips" input)...

Hi Squalou,
Great job on the ea i have been trying it out today for the first time (since i am new to this thread) and its given some good results.
this might be me or not but when I set the BE the ea moves it to it, and then immediately it moves it back the original SL, there might be something wrong with the coding or something. but then it might be something I am doing wrong.
regards
JTH

p.s.
i am using the latest vesion 7.2
  • #953
  • Jul 20, 2011 11:55pm Jul 20, 2011 11:55pm
Hi good night. somebody help me with this EA, I am open a real account with alpari usa, but the mt4 show me this error

**the robot has been suspended reason: ypu need to change the magic number input**
  • #954
  • Jul 23, 2011 8:46am Jul 23, 2011 8:46am
Simple london breakout
Hi good day. mer did you help me with this EA, I am open a real account with alpari usa, but the mt4 show me this error

**the robot has been suspended reason: you need to change the magic number input**
  • #955
  • Jul 23, 2011 10:11am Jul 23, 2011 10:11am
Quoting cesarz18
Simple london breakout
**the robot has been suspended reason: you need to change the magic number input**
Did you change the m n and try again?
  • #956
  • Aug 30, 2011 9:41am Aug 30, 2011 9:41am
Hello, do you have a manual for this EA?
  • #957
  • Sep 1, 2011 9:57am Sep 1, 2011 9:57am
Hello all,

please bear with me while I introduce myself.

I'm new (ish) to forex factory but not to FX. I also trade a simple London breakout albeit on a different timeframe and from the 8am candle close. I trade on a manual basis and return on average 9.1% (this year).

I trade (almost) exclusively GBP/USD, but want to expand on this to maybe a couple of other pairs.

I stumbled across this thread because I was considering producing an EA based on my strategy, but now I am thinking why should I re-invent the wheel, especially as I have no programming background.

I will be spending the day playing about with this and will no doubt post a couple of questions but in the meantime I would like to thank everyone involved in it's development.

One thing I would like to ask now is regarding the Money management. I usually have a maximum risk of 1% and I notice that there is a 'max risk' input on the EA (2nd entry from the top). Is this entry to place a % risk based on the account balance?

Thank you
  • #958
  • Sep 1, 2011 10:34am Sep 1, 2011 10:34am
well not off to the best of starts. no smiley face. Do I need to input a magic number?
  • #959
  • Sep 1, 2011 12:11pm Sep 1, 2011 12:11pm
Hello

I am new and I have a question
The brekout indi give entry buy and sell ...

What are the 2 orders do I have to enter in order to leave my "trading room" ;-)

regards
  • #960
  • Sep 2, 2011 1:35am Sep 2, 2011 1:35am
welcome to forex factory!

its a great place to just share with friends about our passion for forex

im based in malta, been almost trading cable for 4 years now, would also like to start consider other pairs like you! maybe we should team up a learning curve!

if you need help to develop an EA pls drop me a line,

what kinda positions you usualy take? scalps or larger trades?

good day all

ad

Quoting hxtrader
Hello all,

please bear with me while I introduce myself.

I'm new (ish) to forex factory but not to FX. I also trade a simple London breakout albeit on a different timeframe and from the 8am candle close. I trade on a manual basis and return on average 9.1% (this year).

I trade (almost) exclusively GBP/USD, but want to expand on this to maybe a couple of other pairs.

I stumbled across this thread because I was considering producing an EA based on my strategy, but now I am thinking why should I re-invent the wheel, especially as I...
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