A Simple London Breakout V.2 | Page 59 | 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

  • #1,161
  • Edited 10:46pm Aug 8, 2011 10:42pm | Edited 10:46pm
Would have had a stopout today tho I guess?

Mer:
Are you posting results with the new lotsizing you spoke of last week? I really like the idea as you do, weighting larger lots for tp1. I guess I can find out for myself when you post today's results
  • #1,162
  • Aug 9, 2011 12:23am Aug 9, 2011 12:23am
Quote
Would have had a stopout today tho I guess?

Mer:
Are you posting results with the new lotsizing you spoke of last week? I really like the idea as you do, weighting larger lots for tp1. I guess I can find out for myself when you post today's results
Yes, we did have a stop out today, I just haven't posted a chart for Monday yet. If you look at the blue boxes on the charts, the first pip total is with the old lot sizing and the second pip total is with the new lot sizing. It's a little confusing from last week as level 1 of the martingale sequence uses the same starting lots size for each trade, so the totals will be the same. The only time the martingale will benefit us is when target 1 is hit or if we close out all 5 trades at 00:00 GMT like we did on the chart below.
  • #1,163
  • Aug 9, 2011 12:48am Aug 9, 2011 12:48am
Monday shows us a 69 pip box and we had our first stop out as price reversed and closed us out with -345 pips (-69 x 5). Now just to review, since we had a loss we would now use a multiplier of 2. In the original strategy, we would now open 5 trades of 2 lots on the re-entry for a total of 10 lots. Now with the new lot sizing we would now open trades 1-5 at 5, 2, 1, 1, and 1. We still have a total of 10 lots open, but now we are trading with at least 70% of the lots on trades 1 & 2. We never did hit target 1 and ended up closing all 5 trades for +55 pips each for a total of +550 pips. Even though we still did not reach a target 1, we garnered enough pips to recoup our losses and we will start back at level 1 on Tuesday. I was hoping to hit target 1 to show individual trade comparisons, but we will just have to be patient.

Grand total for the day- +205

$2050.00 @ 1 lot per trade
$205.00 @ .1 lot per trade
$20.50 @ .01 lot per trade
Attached Image (click to enlarge)
Click to Enlarge Name: entry and stop.jpg Size: 109 KB
  • #1,164
  • Aug 9, 2011 7:51am Aug 9, 2011 7:51am
Cheers, Pippo
Vincit qui se vincit.
  • #1,165
  • Aug 9, 2011 11:30am Aug 9, 2011 11:30am
Hello dear author of the given strategy. I very much liked your strategy and want to express you huge gratitude. I have to you a question: I have downloaded version 9.2 it of even more impressions have brought) What version to use better? What you use? Or your recommendations are better for using what version. Yours faithfully thanks.
  • #1,166
  • Aug 9, 2011 4:07pm Aug 9, 2011 4:07pm
Hello, it would be possible to apply this multiplier TP1: 1,1,1,1,1,2,2,3,4,5, etc?
When I try to just make the first multimplicador, going directly to 2 and from 2 to 3 ... Please could someone help me?
Thanks.
  • #1,167
  • Aug 9, 2011 4:16pm Aug 9, 2011 4:16pm
Quote
Hello dear author of the given strategy. I very much liked your strategy and want to express you huge gratitude. I have to you a question: I have downloaded version 9.2 it of even more impressions have brought) What version to use better? What you use? Or your recommendations are better for using what version. Yours faithfully thanks.

The EA was developed for the thread and I thought it worked well when it was tested (except for a few small bugs), then all sorts of changes were made which others begged to have put in which I didn't think were necessary. The first version to the last version of the EA is no different in functionality from one to the next, they just have different parameters added in as the EA has developed. The best thing to do is to read through the thread and read up on the changes that have been made and test, test, test, then decide which version to use. I do not use any version of the EA yet because I'm still waiting for sqaulou to make changes to the EA for me personally. I also haven't used the EA due to the capital needed to safely guard against the possibility of hitting the higher multipliers and not being in control of that aspect concerns me. I hope the changes that sqaulou can try and code into the EA will diminish the likelihood of this happening so smaller accounts can be used to trade it. If I had a half million to throw at it, I wouldn't hesitate a bit because that would be enough of an equity buffer to keep the EA from running into a margin call, but I'm not quite there yet . I am waiting for MY personal version to be modified so I can test it and use it when it's finished. When sqaulou finishes the latest version of the EA for those following the thread, I will post it in post #1, but my version though will not be posted.

Right now, I try and trade the strategy manually using various scripts when needed and I manually put in stop losses and profit targets when I place the trades. It's a lot of work but until I'm completely satisfied and fully confident in the EA, I'd rather sit and put in the screen time to watch the trades progress on their own. I have multiple screens on my computer and a TV next to it so I can just pop in a movie or surf the internet while I'm trading to kill the time.
Attached Image
  • #1,168
  • Aug 9, 2011 4:18pm Aug 9, 2011 4:18pm
Quote
Hello, it would be possible to apply this multiplier TP1: 1,1,1,1,1,2,2,3,4,5, etc?
When I try to just make the first multimplicador, going directly to 2 and from 2 to 3 ... Please could someone help me?
Thanks.
Yes, you can edit it in MetaEditor and permanently change it or just change the inputs in the EA's parameters (see pics). But remember, the multiplier sequence is calculated this way for a reason in order to recoup losses as quickly as possible.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: entry and stop.jpg Size: 177 KB
Click to Enlarge Name: entry and stop 2.jpg Size: 173 KB
  • #1,169
  • Aug 10, 2011 8:51am Aug 10, 2011 8:51am
Okay we finally get a chance to see how the recovery process will go. Tuesday we had a reversal to start the night for -430 pips on the sell off (which was expected today) and we closed out at 00:00 for -380 pips. Tomorrow we will look to enter at a multiplier of 5.

Grand total for the day- -810

-$8100.00 @ 1 lot per trade
-$810.00 @ .1 lot per trade
-$8.10 @ .01 lot per trade
Attached Image (click to enlarge)
Click to Enlarge Name: entry and stop.jpg Size: 97 KB
  • #1,170
  • Aug 10, 2011 10:09pm Aug 10, 2011 10:09pm
Okay, we are back to see how we recovered from yesterday's sell off. Wednesday had a 55 pip box with an immediate entry on the very next candle after the box formed. Our first two targets were hit. We ended up closing the remaining 3 trades at 00:00 GMT for +139 pips each. Let compare the two lot sizing totals. As you can see with the new lot sizing, we recouped our -810 pip loss from yesterday at out first target. We didn't recoup our loss until we hit target 2 with the old lot sizing. If price would have reversed off target 1, we would've had to re-enter again using a multiplier of 5 (according to the rules of the strategy). Since the new lot sizing recouped immediately at target 1, we can now start fresh from the starting multiplier instead.

Old Lots- 5, 5, 5, 5, 5

Target #1- +445 pips (+89 x 5 lots)
Target #2- +725 pips (+145 x 5 lots)

New Lots- 12, 6, 4, 2, 1

 Target #1- +1068 pips (+89 x 12 lots)
Target #2- +870 pips (+145 x 6 lots)

Now there is a disadvantage to using the new lot sizing that I want to make sure to point out here. Again the goal of the new lot sizing is to protect us and recoup losses at the first target, but if we continue down and do not retrace the old lot sizing catches up and we end up losing pips. Looking at the remaining lots(in blue) that were closed at 00:00 GMT, you can see the difference.

Old Lots- 5, 5, 5, 5, 5

Closed remaining trades- +2085 pips (+139 x 15 lots remaining)

New Lots- 12, 6, 4, 2, 1

 Closed remaining trades- +973 pips (+139 x 7 lots remaining)

Even though price continued past out first target, I still feel a lot more comfortable with the idea of stacking the lots on the first two trades as we will see target 1 & 2 hit far more often than the rest. I will easily sacrifice those pips we would lose out on from hitting targets 3-5 in order to lower the risk of reaching higher multipliers any day of the week. There are too many pairs and too many opportunities to be had to worry about missing pips here and there.


Grand total for the day- Old- +3255

-$32,550.00 @ 1 lot per trade
-$3255.00 @ .1 lot per trade
-$325.50 @ .01 lot per trade

Grand total for the day- New- +2911

-$29,110.00 @ 1 lot per trade
-$2911.00 @ .1 lot per trade
-$291.10 @ .01 lot per trade

We are now back to trading back at a multiplier of 1 for tonight.
Attached Image (click to enlarge)
Click to Enlarge Name: entry and stop.jpg Size: 118 KB
  • #1,171
  • Aug 11, 2011 3:25am Aug 11, 2011 3:25am
thank you very much for answering!
I've successfully modified.
One more question, the EA can be configured to compute a fixed box size? such that the box always measures 30 pips?
Thanks again Mer.
  • #1,172
  • Aug 11, 2011 3:45am Aug 11, 2011 3:45am
Quote
thank you very much for answering!
I've successfully modified.
One more question, the EA can be configured to compute a fixed box size? such that the box always measures 30 pips?
Thanks again Mer.

To be honest, sqaulou is the man to ask on that one. I know you can put your Max Box size to 30 pips and you'll never have a box larger than that, but it still won't be a fixed box size.
  • #1,173
  • Aug 11, 2011 3:52am Aug 11, 2011 3:52am
thanks Mer .
  • #1,174
  • Aug 11, 2011 5:39am Aug 11, 2011 5:39am
Quoting mer071898
Okay, we are back to see how we recovered from yesterday's sell off. Wednesday had a 55 pip box with an immediate entry on the very next candle after the box formed. Our first two targets were hit. We ended up closing the remaining 3 trades at 00:00 GMT for +139 pips each. Let compare the two lot sizing totals. As you can see with the new lot sizing, we recouped our -810 pip loss from yesterday at out first target. We didn't recoup our loss until we hit target 2 with...
Well, no risks, no gains.

I still prefer the new trick, not bad after all.

Cheers!
福 子 Victor V
  • #1,175
  • Aug 11, 2011 5:00pm Aug 11, 2011 5:00pm
hi dear

my mt4 is GMT +3 so that means i have to change the follwoing settings:

start time 6 to 9
end time 9:14 t0 12:15
sassion end time 4:30 to 7:30

waiting for your answer ?
many thx
ammar
  • #1,176
  • Aug 11, 2011 7:23pm Aug 11, 2011 7:23pm
Quote
hi dear

my mt4 is GMT +3 so that means i have to change the follwoing settings:

start time 6 to 9
end time 9:14 t0 12:15
sassion end time 4:30 to 7:30

waiting for your answer ?
many thx
ammar

ammar, I've recently adjusted my times to be based off of 00:00 GMT to 07:14 GMT with an end session time of 00:00 GMT. If you are GMT +3, you would add 3 hours to each of those times to match what I showing in my charts. Now, you can use whatever start times you wish to use, you don't have to stick to mine. I'm just using these times in my examples so everyone is on the same page. Actually, I might even look into moving my end of the box back an hour to 06:14 GMT to get away from the Frankfurt open, but that's another day.
  • #1,177
  • Aug 15, 2011 12:39pm Aug 15, 2011 12:39pm
Ran into this thread last week. Quick manual back testing with my personal setting seems very promising. Only problem is my indicator does not draw Monday box. Also the EA does not work monday morning. If this problem has been pointed out and addressed before my sincere apology. I am scanning through the thread to find the answer. Other than than that I am having a very good trading day so far with this system.

Thank you Mar for this system.
  • #1,178
  • Edited 3:31pm Aug 15, 2011 3:19pm | Edited 3:31pm

Quote
Ran into this thread last week. Quick manual back testing with my personal setting seems very promising. Only problem is my indicator does not draw Monday box. Also the EA does not work monday morning. If this problem has been pointed out and addressed before my sincere apology. I am scanning through the thread to find the answer. Other than than that I am having a very good trading day so far with this system.

Thank you Mar for this system.
I'm glad you like the strategy and I hope you do well with it. The best thing is to use a broker that does not have a Sunday candle like Go Markets (which is what I use). What version of the indicator are you using because that might be an issue as well (V.3.1 is the latest I believe)? If you're using the latest versions and are still having issues, the only thing you can do is to PM sqaulou with those issues since he is the creator of the EA and the indicator and he might tell you what the problem might be. He is on vacation right now so it may be a bit before he can look into it.

_________________________________


Speaking of indicators, I have slightly modified V.3.1 and added two new levels. Right now, these levels are only for visually moving your stops to help lessen the blow when we have those crazy reversals and we get stopped out. The first level is at the 61.8 extension and suggests you to move your stop to the "Sell Stop 1/Buy Stop 1" which is the 50 fib retracement level that splits the box in two. The second level is at the 123.6 extension and tells you to move your stop to "Buy Stop 2" or "Sell Stop 2", and these levels, depending if it's a buy or a sell, are placed at the 23.6 and 76.4 fib retracement levels. I'm hoping that when sqaulou gets back from vacation that we can add these in as optional, adjustable parameters.

Hopefully these new levels will help you lower the loss you may get on a retracement that can happen before we reach our targets (see pic 1 for a recent example). Lowering these losses also gives you the option to use a smaller multiplier to recoup your losses instead of using the default multiplier sequence in the original strategy. Now these new levels are not going to be reached all the time and they may even cause you to stop out trades that normally wouldn't get stopped out with regular V.3.1, but that is just one of those things that you can't control. Feel free to try it out first to see if it will help you in your trading and if it's not for you, stick with V.3.1.

p.s. If you know how to edit in MetaEditor, feel free to adjust the default levels to whatever you wish to either move the stops sooner or later in the trade (see pic 2).

p.s.s. Pic 2 to should read 1.382, not 1.0382, sorry.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: entry and stop.jpg Size: 162 KB
Click to Enlarge Name: entry and stop 2.jpg Size: 197 KB
Attached File(s)
File Type: mq4 3 Tier London Breakout V.3.2.mq4   19 KB | 920 downloads
  • #1,179
  • Aug 16, 2011 11:29pm Aug 16, 2011 11:29pm
Brilliant work on this EA - love ya passion
  • #1,180
  • Aug 17, 2011 11:33pm Aug 17, 2011 11:33pm
Quote
Brilliant work on this EA - love ya passion

Thank you for the comments, but you should thank sqaulou as he is the coding guru responsible for all of it. I hope when he gets off vacation that he can quickly make the changes to the existing EA to make it better.
2 traders viewing now