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Nomoretoxic's breakout

  • #1,121
  • Jan 22, 2009 9:45pm Jan 22, 2009 9:45pm
Quoting bigjim1958
Hi everyone:
Just wanted to post a small winning trade this morning, I was up approx. 20 pips, but it retraced and I got out at the check mark with 10. Keep posting people, this seems to give pretty consistent pips if you aren't too greedy, and as always, limit your losses.

Jim
no one likes bragging about their losses.
ppl only post winning trades here on FF, even though FF people lose trades 70% of the time
  • #1,122
  • Jan 23, 2009 4:52pm Jan 23, 2009 4:52pm
Just because people only post winning trades doesn't mean the system is fault-less or just blind luck. But 70%?

Pull that stat right from your behind?
  • #1,123
  • Mar 4, 2009 7:24am Mar 4, 2009 7:24am
Have been using this system for a while now , still working Great on the GBP/JPY pair from 12:00 midnight to 2:00 am . EST. for box high and low .... Getting excelent results..... buffalopip......
  • #1,124
  • Mar 8, 2009 12:05pm Mar 8, 2009 12:05pm
Quoting cheelu
You have a very very old version. Download the indicator again from http://www.forexfactory.com/showpost...31&postcount=1

It has the source code itself.
Cheelu,

Thanks. I was facing same problem as I was using your old indicator. New one is very good. And in the process of finding update of your indicator I have found new system too.

Your new indicator every thing is clear. Except Breakout end time.

Input of BOx Begin and Box end is clear to me. But I don't know what to put in for Breakout End time: Is it same for all three sessions : Asian, European and US : Should it be 23: 00 GMT for all the three sessions?

I hope all the times accepted by your indicator are in GMT.

What are considered the breakout times (in GMT) for Asia , Europe, and USA . Is it the first 4 hours of each session? first 2 or first 3? Please guide me.

Thanks again for your developing such a good yet simple indicator.
  • #1,125
  • Mar 10, 2009 6:20am Mar 10, 2009 6:20am
Quoting hellcat
Hey guys,

I only trade a select few pairs with this system, including the EU. It used to be my most consistent pair before the new year. Now it doesn't seem to break the box with much strength or consistency anymore...at least in the NY session. It seems to make a stronger run earlier around the open of NY that maxes out the range, and never breaks out again.

Have you EU traders noticed this change? Does this typically happen each January time frame, or is it because of the election/innauguration, or just a change in market dynamics, or ?? Obviously,...
GBP/JPY breakout (hi/lo established in Asian session) working very well.
  • #1,126
  • Mar 10, 2009 6:23am Mar 10, 2009 6:23am
Quoting buffalopip
Have been using this system for a while now , still working Great on the GBP/JPY pair from 12:00 midnight to 2:00 am . EST. for box high and low .... Getting excelent results..... buffalopip......
Yes I am also following the same pair and during the same time.
  • #1,127
  • Mar 19, 2009 3:16am Mar 19, 2009 3:16am
Is anyone trading this strategy. I got a question here if someone can answer? From the attached picture if one has to take a trade that will be at 1.3512 right?

The bar poking out will not be considered a breakout right?
Attached Image
  • #1,128
  • Jul 1, 2009 7:48am Jul 1, 2009 7:48am
This system continues to produce consistent profits. are there any other FF members who are still using this system?
  • #1,129
  • Sep 3, 2009 4:11am Sep 3, 2009 4:11am
I guess no one uses this system any more. It continues to work well, especially if trades are only taken in the direction of 4 hour market flow. It would be great to get some feedback from anyone who still uses this system. It consistently produces +20 pips on GBPUSD and EURUSD trades.
  • #1,130
  • Sep 3, 2009 10:16am Sep 3, 2009 10:16am
Has anyone traded this method long enough to have a sense of trade frequency, ie. monthly number of trades/pair, especially Gbp/Usd ? Most often when I employ this method I am met with success. I look back 2 hrs, 1 hr after London/NY open and trade levels as they appear in Cheelu's indicator, but use only 1 pip margin to enter, and SL/TP of 25/30. So far I have traded only Gbp/Usd with this method. In London session today I bought G/U at 1.6373 and closed at 1.6403. In NY session I just closed a sell at 1.6338 position at 1.6340, 15:01 GMT. Today's tally: +28. Any info about trade frequency will be greatly appreciated. Pippo
Vincit qui se vincit.
  • #1,131
  • Sep 15, 2009 10:09pm Sep 15, 2009 10:09pm
Quoting fxpilot
I guess no one uses this system any more. It continues to work well, especially if trades are only taken in the direction of 4 hour market flow. It would be great to get some feedback from anyone who still uses this system. It consistently produces +20 pips on GBPUSD and EURUSD trades.
Hi FxPilot:
I have been demoing this system along with Phil Newton's system for a little while now, trying to find right pairs etc. Have you changed anything since your last post and are you still successful. Thanks for sharing with everyone.

Jim
  • #1,132
  • Sep 16, 2009 12:29am Sep 16, 2009 12:29am
Quoting bigjim1958
Hi FxPilot:
I have been demoing this system along with Phil Newton's system for a little while now, trying to find right pairs etc. Have you changed anything since your last post and are you still successful. Thanks for sharing with everyone.

Jim
Hi Jim,

I have only tried this system with GBPUSD and EURUSD. It continues to average 20 pips per trade. However, the frequency of trades have decreased to an average of 3 good setups weekly. This is due to the fact that I only trade breakouts in the direction of the 4 hour trend (market flow).
  • #1,133
  • Nov 15, 2011 6:05am Nov 15, 2011 6:05am
I would like to say my IMHO here.

This system would work as long as there will be periods of consolidations (balanced market) and periods of moving market (unbalanced market) in the trading world.

You have to understand that even having your setup in hands, and seeing market goes out of balance, you can still loose this trade because of various things. Like too large pullback after trigging your trade, too weak follow-through etc. But as Nomo said - the trick is to keep the ball rolling.

This system is based on natural occurences of the markets.

Good luck!
  • #1,134
  • Nov 18, 2011 2:11am Nov 18, 2011 2:11am
Quoting dim4ik42
I would like to say my IMHO here.

This system would work as long as there will be periods of consolidations (balanced market) and periods of moving market (unbalanced market) in the trading world.

You have to understand that even having your setup in hands, and seeing market goes out of balance, you can still loose this trade because of various things. Like too large pullback after trigging your trade, too weak follow-through etc. But as Nomo said - the trick is to keep the ball rolling.

This system is based on natural occurences of the markets....
Well said!
  • #1,135
  • Feb 14, 2012 1:41am Feb 14, 2012 1:41am
I have an idea to start trading this method from today with my little account. Will trade it really small lots for a period of time (may be about month or two) to get used with it, and if things will be Ok - then I would increase my lots.

Good luck to me!

P.S. - what I think about this method is - it really is based on just pure price action (box-indi is just for eyes, not for trading off it), and on... Supply and Demand! And as we know - Sup_and_Dem will never go out of style. Market are just based on them. Box shows us where and when the market is balance (range), and then some of these two forces goes in top of the other, then we wait for a pullback (to be sure there is intention to go more) and take our trade. The rest is a matter of we would have win or loss. I like it.
  • #1,136
  • Feb 17, 2012 6:09am Feb 17, 2012 6:09am
Hi Dim,

Just wondering how you are doing with this.

I have been studying the system and so far I haven't seen a set up for the London open, but there have been some good break-outs later.

Not sure that this type of trading would be for me as I usually trade much higher time frames, but I will continue to monitor the system for a while.
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  • #1,137
  • Feb 20, 2012 7:14am Feb 20, 2012 7:14am
What I have found is that if I apply the indicator on a 1 hour time frame and ignore the shaded time area, it does consistently highlight break out points.

I think that as long as a tight stop loss is employed, this indicator may produce some good results on the 1 hour chart.

I am going to start trading with it from tomorrow and I will post the results.
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  • #1,138
  • Feb 21, 2012 11:02am Feb 21, 2012 11:02am
Off to a good start 20 pips on Au/Us (see chart). There were other opportunities but I want to take it one trade at a time while I evaluate this.
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  • #1,139
  • Feb 22, 2012 9:16am Feb 22, 2012 9:16am
Another good break out day on the 1 hour. This really does seem to work rather well, but since I appear to be the only one watching this thread I have not posted a chart today.
  • #1,140
  • Feb 23, 2012 3:42am Feb 23, 2012 3:42am
Quoting mvtrader2000
Another good break out day on the 1 hour. This really does seem to work rather well, but since I appear to be the only one watching this thread I have not posted a chart today.
Hello!

Good observation!

I honestly have to say that because of some personal things I could not trade this technique in real time... but only during evenings and nigths I was seeing some good oportunities that was during last days...


But again - this method would work as long as there would be London's markets and N.Y.'s markets... They would make those whole moves (waves) which would move the markets across the board.
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