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  • #1,921
  • Feb 21, 2012 4:56pm Feb 21, 2012 4:56pm
Back from holidays, catching up on stuff. It's been a frustrating day, Several CZ's in play on my charts, havent done a pic of all of them. I got stopped out on 2 trades on gbpchf today which has stung me for 2%, fortunately things have moved on others such as audusd, euraud, audchf, eurnzd (yesterday) & gbpaud, not a good day for the aussie, but not a bad one for me, i've had a lot worse.

FH - I'll have to read through again to make sure, but from what i read, is that when a lengthy period where there are no cz's occurs and then you get several 'congested' CZ's the implication is that a series of 'stairsteps' is the pattern likely to follow?

Oh how i'm aching for CZ's on my jpy charts. Theres been 2000+ pips movement (entry to high) since the last ones formed going back all the way to the beginning of Feb.

hxt
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  • #1,922
  • Feb 21, 2012 10:27pm Feb 21, 2012 10:27pm
These look like decent CZ. let's see what happens.

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  • #1,923
  • Feb 21, 2012 11:04pm Feb 21, 2012 11:04pm
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  • #1,924
  • Feb 22, 2012 5:37am Feb 22, 2012 5:37am
This is looking quite good, just posted a new high for the year so could be some upside. I've not traded EG before, I've 'twiddled' with it before with SQ's indi but couldn't settle on settings I was happy with. Anyway, tried again this morning and now have some decent looking charts.

I'm tempted to stick to a 1:1 RR on this pair. does anyone have experience trading eurgbp with SSBO?

hxt
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  • #1,925
  • Feb 22, 2012 3:41pm Feb 22, 2012 3:41pm
thought I would post this, I took off .01 off most of these when they hit 50 pips and another about an hour ago since it's looking quiet into the asian session. So the pic is whats left on, SL's moved to BE+ so i get a good nights sleep and will hopefully wake tomorrow to see a couple of CZ's to play with.

I think I'm standing on 6.5% for the week so far even after yesterday. FH i know i keep saying it but the work you Mer, Squalou and Steve is very much appreciated.

heres to tomorrow.

hxt
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  • #1,926
  • Feb 22, 2012 5:06pm Feb 22, 2012 5:06pm
Quoting hxtrader
This is looking quite good, just posted a new high for the year so could be some upside. I've not traded EG before, I've 'twiddled' with it before with SQ's indi but couldn't settle on settings I was happy with. Anyway, tried again this morning and now have some decent looking charts.

I'm tempted to stick to a 1:1 RR on this pair. does anyone have experience trading eurgbp with SSBO?

hxt
hxtrader,

I haven't traded this pair but it's on my watch list. I missed this move plus the other ones from yesterday. Apparently my alerts aren't working properly. Most of the moves happen when I'm asleep as I live in the PST time zone so have to rely on alerts being sent to my phone to wake me up.

Great job on your trading by the looks of your posted stmt.

---------------------------------------

Is there anyone out there trading this strategy that also lives in the Pacific Standard Time zone??

It would be great to know how you might catch the moves that occur in the middle of the night.
  • #1,927
  • Feb 22, 2012 5:12pm Feb 22, 2012 5:12pm
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  • #1,928
  • Feb 22, 2012 8:12pm Feb 22, 2012 8:12pm
Hi.

I have been reading this thread on areas of consolidation. forexhard, thanks for you insight.

I trade only GBPUSD, but more on crude, both crude light and brent.

Your method has clarified my observation for a long time. I modified the entry for the trade. I'd rather take the trade and leave the stop instead of waiting for 2 closes for confirmation. Usually the market is far gone when it happens.

Oil moves 10x faster than forex. 600 ticks daily range is not uncommon.

squalou's indicator is great. Because it needs to look 100 days into the past, monthly renewal contract crude, eg, CL.J2, K2 etc etc cannot be used in this way. It must be used in continuous contract mode. Like what FXCM offers. This is not a complaint, just the characteristics of contract months for futures.

So I need to reference FXCM's chart to trade the contract month.

I leave you with this chart. Be prepared to pay less in the pumps soon, I think the oil rally is about to run out of steam. It is far too over extended I hope. The USD strengthening should give cheaper gas.
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  • #1,929
  • Feb 23, 2012 5:16am Feb 23, 2012 5:16am
Hi all
I wasnt able to trade last few days so i missed some CZs. But here are my 2 trades from today. Both hit my TP=2SL
1st - UCHF sold @ 0.9090 TP = 0.9054
2nd - EU bought @ 1.3274 TP= 1.3334

Regards
A.
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  • #1,930
  • Feb 23, 2012 12:47pm Feb 23, 2012 12:47pm
Anyone who has read my posts knows that I don't waste a lot of time patting you guys on the back for a job well done, or welcoming new members by name, and all that stuff that you see in most every other thread around here. If I did, my personal post count would be triple what it is now, and this thread would have twice as many posts. To me, that's just a lot of wasted space that everyone else would be forced to pick their way through after so much time has passed. Like now, when the thread is almost 8 months old. Who wants to pick through an extra 500 posts for nothing?

But the thread does seem to be getting a lot of new attention lately, and I wanted to take just a second to welcome all of you collectively, and to say well done on your recent success with my system. Hard work is it's own reward, and this system offers plenty of reward to those who give it the proper due dilligence.

So 'Welcome' to all you new guys that are bringing new energy into this thread. I hope the SSBO system is what you're looking for.

FxH

PS: POST THOSE PIX!!! ;^)
To improve is to change. To perfect, is to change often.
  • #1,931
  • Feb 23, 2012 8:52pm Feb 23, 2012 8:52pm
GORGEOUS CZ confirmed, just 19p tall.

My indi is set for 30 bars minimum, so I usually have to wait longer for setups than the rest of you guys who are using the default 24 bars. But these absolutely perfect boxes are the payoff for having the extra patience - hint, hint.
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To improve is to change. To perfect, is to change often.
  • #1,932
  • Feb 23, 2012 9:13pm Feb 23, 2012 9:13pm
Cable has some company...
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To improve is to change. To perfect, is to change often.
  • #1,933
  • Feb 24, 2012 2:35am Feb 24, 2012 2:35am
Morning everyone,

FH, I'm seeing exactly the same CZ's as you on EU + GU so I know I'm doing things right on these pairs which is a boost to my ego. I'm also seeing (and am in) CZ's on GBPCHF + USDCHF. The former broke and took out my SL from the previous CZ for a mere 209 pips (0.1 at 50 pips, 0.1 at 100 pips and 0.1 at 209 pips). I'm still holding .01 on USDCHF from a previous CZ standing at 77 pips and have taken the signal in the same direction.

Anyway, this mornings excitement comes from EURJPY which recently formed a new CZ. Look at the high point from the previous CZ and you will see it's 600+ pips. I think I closed out my last .01 at around 240 pips. So I'm already showing 113 pips on this one (having taken .01 at 103 pips) so have .02 remaining.

Theres so much going on at the minute I'm having to resist temptation to just jump in at the risk of overtrading. I'm learning to be more patient and theres nothing like banking pips by following FH's method to re-affirm that patience is probably the most valuable attribute in trading. However, I have a lot of pips 'locked in' as a result of this patience. What i need to do now is learn to switch off for a couple of hours at a time and leave the screen so the strategy can do it's stuff. Theres absolutely no point in taking a trade, watching it drop for a while, panic, close it out then despair when several hours later you see it resume in the direction you took the trade.

I'm sure to pick up a couple of losses soon, i've been on such a good run this week.
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  • #1,934
  • Feb 24, 2012 2:45am Feb 24, 2012 2:45am
I would appreciate it if someone posted here a procedure to maximize the benefits of good trades and bad trades to minimize losses. Without this approach, the system loss. Recurring images of theoretical operations are misleading.
  • #1,935
  • Feb 24, 2012 3:01am Feb 24, 2012 3:01am
FH, thx for sharing.

Although I'm not done reading the complete thread, I believe some may benefit from reading the LondonBreakout V1 & V2 system :
http://www.forexfactory.com/showthread.php?t=247220

Specifically, and despite the argument I was having at the time with BSmart, the proposed concept was similar, at least in some ways, to yours : http://www.forexfactory.com/showthread.php?p=4128534#post4128534

Nothing's ever new ... but good stuff comes out improving old ones ;-)

FH - I'm a big supporter of Breakouts on Consolidation ..... you should (if you didn't already) throw in some VSA ;-) ... you may have that inherently, but that may benefit some of the new guys here.

... and then, if on top of this, you add a grid trading strategy for working up the reversal and increasing the odds of profits ... then we're on the same page: http://www.forexfactory.com/showthread.php?p=3849602#post3849602


Quoting forexhard
Some of you caught this move. I know Roper did, and I think a few others did too. This is an absolutely textbook example of what I have been talking about. The example couldn't be any clearer. If you can follow what happened in this pic you now understand the starting point of my breakout system.

Yes, I said starting point. There are still several important steps I haven't gotten to yet. The next step will deal with reversals, and how to get out of them at BE, or even a small profit -- 99% of the time.

But that will not be for another...
  • #1,936
  • Feb 24, 2012 3:05am Feb 24, 2012 3:05am
Hi Mer, Ah ah , makes total sense to see you in here.

... well I guess that's what happen when you post prior reading all the thread ... ;-)

Quoting mer071898
Congrats, now we just need to get it up to that magic "1 million" post mark. It has definitely giving me a new outlook on breakouts and, just like everyone else, I have molded it to fit the way I trade including throwing in some counter trade methods from my other strategies. I am glad I could help contribute something to the strategy and hope it has helped to improve it (at least a little bit) and to get some of you over the hump.
  • #1,937
  • Feb 24, 2012 3:14am Feb 24, 2012 3:14am
;-) same old same old !

Quoting mer071898

It's really funny that no where in this thread did forexhard say that he was the inventor of the "breakout". I'm sure forexhard doesn't care if there 5 or 500 breakout methods out there because he's only concerned about one,


***his!***


[size=2]And sorry forexhard, I've got to get this off my chest. Johnny, I've said this over and over and over (along with many others that have followed my threads), please, if you are so insightful and so successful and you want...
  • #1,938
  • Feb 24, 2012 7:15am Feb 24, 2012 7:15am
And here's what we have a few hours later.

These 2 breakouts were my best trades so far this year.

Patience, my friends, patience. There's no need to overtrade. Carefully stalk your CZ's and wait for the right time to pull that trigger, and the opportunities will present themselves in due time.
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To improve is to change. To perfect, is to change often.
  • #1,939
  • Feb 24, 2012 7:51am Feb 24, 2012 7:51am
Quoting hxtrader
Morning everyone,

FH, I'm seeing exactly the same CZ's as you on EU + GU so I know I'm doing things right on these pairs which is a boost to my ego. I'm also seeing (and am in) CZ's on GBPCHF + USDCHF. The former broke and took out my SL from the previous CZ for a mere 209 pips (0.1 at 50 pips, 0.1 at 100 pips and 0.1 at 209 pips). I'm still holding .01 on USDCHF from a previous CZ standing at 77 pips and have taken the signal in the same direction.....
Congratulations HxT! Way to get those pips!

I hope everyone out there is paying attention. This is how you do it. This is what the SSBO can do for you if you put in the same amount of time and due dilligence that HxT (and many others) have done. This is a real system that gives real results. We don't do theory in here, we do live breakout trading with real money on the line.
To improve is to change. To perfect, is to change often.
  • #1,940
  • Feb 24, 2012 7:57am Feb 24, 2012 7:57am
Quoting forexhard
And here's what we have a few hours later.

These 2 breakouts were my best trades so far this year.

Patience, my friends, patience. There's no need to overtrade. Carefully stalk your CZ's and wait for the right time to pull that trigger, and the opportunities will present themselves in due time.
Kerrrrching, kerrrching, kerrrching....

A couple of times today I had to check and double check the trades I put on and the ones I was carrying over from the past couple of days because I was thinking that I must be overtrading with the pips I was banking. I wasn't overtrading, it was just an exceptional few days. I'm tempted to close everything for weekend but will probably carry a couple over and tighten the stops.

took another .01 off EURJPY for 209 pips. .01 remaining

In all honesty, the lot size calculator I use was telling me to put either .04 or .05 lots on (1% depending on the pair) but i limited myself to .03 on everything except GBPAUD which I left at .04 for no apparant reason. Besides it's now in the money with S/L at BE+10.

By the way, I am currently losing on 2 pairs.
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