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Daily Break Strategy

  • #541
  • Sep 19, 2012 2:27pm Sep 19, 2012 2:27pm
Quoting nando_rich
Hi deathbait...i'm running it live on small account too.

I'm having problem with the "Second Entry"...it just placed 1 order once 2 orders.

Could you help me?


BTW: the monday is a problem for me yet.



Thanks in advance for all your work with the EA.


Best Regards,
Nando.
Hi Nando,

I'm following this thread for some time and I read all your posts. I think there was a sort of change in your strategy or trading plan after September 2011. If you don't mind, could you explain what happened? You were making good profit out of the trades before September 2011 and after that?
  • #542
  • Sep 23, 2012 1:52am Sep 23, 2012 1:52am
Quoting Ryukenden
Hi Basber
First I'd like to say big thank you for sharing your system and taking time and putting your effort to reply to most of the questions in this thread. I'm a newbie and I am not sure whether this has been asked before. My first question is what is the reason behind market usually changes its behaviour through 4 year time cycle. Why not 2 or 3 years? My second question. From your personal experience, how do you know when a trading system is not working anymore or it's time to edit its rules? Do we wait till we have 2 or 3 consecutive lossing...
Hi Ryu,

You're quite welcome.

The 4 year thing is a rule of thumb. The observation shows market change it's behaviour every 3-5 years. The reason may be the political cycles which last about these number of years. But I'm not sure.

Thanks for bringing up the second question. I think it's very important to know when to adjust the system. The thing you mentioned is an alert, but not the only factor. The most important factor is seeing a pattern in your losses. For instant, I traded a method years ago which would targeted more than 150 pips per trade with around 100 pips for SL. After few years we saw draw downs. When we analysed our trades we saw that many of them move in desirable direction for 70 - 80 pips then reverses. Also we concluded SLs could be smaller. So we tightened both SL and TP and the method become profitable again. Notice that the main concept of the method should remain solid. Usually the details will change. That's why I insist on not following everything blindly, because then traders can't adjust the method to market themselves and they are always dependet to someone else.

I hope it helped. And also sorry for the late response.

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #543
  • Sep 23, 2012 2:07am Sep 23, 2012 2:07am
Quoting felipeds
Hi traders,

I trade this method in Crude Oil today with sucess !! Oil have big moviments, and volatility.


kind regards, philipe
Backtest 1-2 years before trading it on real account. Also on more volatile markets, you can take more TP. While backtesting, search for better SL and TP levels. I prefer that you work more one TPs than SL.

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #544
  • Sep 23, 2012 2:22am Sep 23, 2012 2:22am
Quoting Andrej7
Hello Basber, ( )

I have a question. In case an inside bar occurs after a mother bar, it seems more logical to me to count the levels based on the mother bar(2 days before), not the previous day's bar. Am I right ? :-)
Both approaches have either pros and cons. When you widen your SL to what you called mother bar, assuming the constant risk for every trade, your volume will be smaller, so market should move more in your trade's direction to give you the desired profit. But in other hand your trade is safer. I act different on different situation. For example when I'm hunting for small TPs, such as this method's targets, I usually use the inside bar itself, but when I'm targeting larger targets for my TP, I usually use the mother bar for SL levels.

It's not about right or wrong sometimes, it's about how you feel more comfortable while trading.

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #545
  • Sep 23, 2012 9:38pm Sep 23, 2012 9:38pm
Quoting Basber
Hi Ryu,

You're quite welcome.

The 4 year thing is a rule of thumb. The observation shows market change it's behaviour every 3-5 years. The reason may be the political cycles which last about these number of years. But I'm not sure.

Thanks for bringing up the second question. I think it's very important to know when to adjust the system. The thing you mentioned is an alert, but not the only factor. The most important factor is seeing a pattern in your losses. For instant, I traded a method years ago which would targeted more than 150...
Thank you for your reply, Basber. That's a very good explanation.
  • #546
  • Sep 24, 2012 4:10am Sep 24, 2012 4:10am
Quoting Daniel3167
Hi Nando,

I'm following this thread for some time and I read all your posts. I think there was a sort of change in your strategy or trading plan after September 2011. If you don't mind, could you explain what happened? You were making good profit out of the trades before September 2011 and after that?
Hi,

Monday has always been and will always be a special day (no news, lack of volatility).
Friday too ("pressure" for closing orders before the week-end), but not in the same manner.

Every strategy must consider them separatly.

You can build a strategy especially for mondays that don't work the other days... the reverse is true too.
  • #547
  • Sep 29, 2012 1:36am Sep 29, 2012 1:36am
Hi Basber!
Just want to say... Thank you! That's a good strategy ! I Like it
  • #548
  • Sep 29, 2012 3:01pm Sep 29, 2012 3:01pm
Quoting Daniel-Fx
Hi Basber!
Just want to say... Thank you! That's a good strategy ! I Like it
You're welcome Daniel

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #549
  • Oct 2, 2012 3:43am Oct 2, 2012 3:43am
Hello Basber, thank you for your reply concerning mother bar/ inside bar and sorry for misspelling :-0. Basber, I've been recently using your system live and I'm glad that it really works ! I have two more questions. Has anyone so far reliably backtested it for more than 3 years to see if the gains are constant ? I really wonder how you came up with this particular fib. levels. I mean distance between each other. Is it your secret ? :-)
I'm asking because I'd like to create some kind of EA where even these parameters would be able to be optimized to see the best results. Could I get any help from you ? What do you think about setting the levels not upon fixed pecentage of a previous day range but rather the S/R levels that occured "yesterday" ?
  • #550
  • Oct 3, 2012 11:06am Oct 3, 2012 11:06am
Quoting Andrej7
I've been recently using your system live and I'm glad that it really works !
What does that mean?
  • #551
  • Oct 13, 2012 5:20pm Oct 13, 2012 5:20pm
Hi DB


Care to share any results?

Thanks
  • #552
  • Oct 20, 2012 6:24am Oct 20, 2012 6:24am
Quoting Andrej7
Dear Traders,

Deathbait has done a great work coding the EA concerning the Basper's daily breakout system. Surely it blessed many of us in this forum. However, there have also been some suggestion to create semiautomated EA and make it more simple for those traders who find it more convenient for them. I asked a friend of mine, explained him the system and he coded the semiautomated EA which I'm attaching. It's the first version and there are both advantages and disadvantages to it. Possibly few bugs as well. It might be improved in the future,...
Thanks!!! It's a great idea.

Does it work with 2nd order too?

Best regards,
Nando.
"Being picky only cost your time - not MONEY"...Hans
  • #553
  • Oct 23, 2012 7:31am Oct 23, 2012 7:31am
Quoting nando_rich
Thanks!!! It's a great idea.

Does it work with 2nd order too?

Best regards,
Nando.
I've checked it...

It works for 2nd order fine, but it don't move the SL @ be after TP1 is reached...

Does it work fine for you?

Thanks in advance.
"Being picky only cost your time - not MONEY"...Hans
  • #554
  • Nov 8, 2012 3:54pm Nov 8, 2012 3:54pm
Hello Nando, meantime, we updated the version cause there might have been some bug, so I'm attaching the correct one.
Yes, it works exactly the way it should, however, there's one problem. The computer must be on (no saving mode)
all the time. If TP is reached while your computer is sleeping, the EA won't move the SL. Otherwise it should work fine.
It's just the same with second entries. Your comp. can't be in a saving mode when Entry 1 is hit. Otherwise, Entry 2
won't be set. Does it make sense to you ? :-)

Btw, I honestly think that second entries are not that reliable and successful. Now I'd trade only first entries and then
when my SL is hit. I'd set another Entry 1. It's just my observation, no serious research :-)

Sorry for anwering so late

Quoting nando_rich
I've checked it...

It works for 2nd order fine, but it don't move the SL @ be after TP1 is reached...

Does it work fine for you?

Thanks in advance.
Attached File(s)
File Type: mq4 Fibonacci High Low v2.mq4   9 KB | 666 downloads
  • #555
  • Nov 9, 2012 5:40am Nov 9, 2012 5:40am
Quoting Andrej7
Hello Nando, meantime, we updated the version cause there might have been some bug, so I'm attaching the correct one.
Yes, it works exactly the way it should, however, there's one problem. The computer must be on (no saving mode)
all the time. If TP is reached while your computer is sleeping, the EA won't move the SL. Otherwise it should work fine.
It's just the same with second entries. Your comp. can't be in a saving mode when Entry 1 is hit. Otherwise, Entry 2
won't be set. Does it make sense to you ? :-)

Btw, I honestly think that second...
Thanks mate.

No prob for late answering.



Regards,
Nando.
"Being picky only cost your time - not MONEY"...Hans
  • #556
  • Nov 12, 2012 4:38pm Nov 12, 2012 4:38pm
Quoting Andrej7
Hello Nando, meantime, we updated the version cause there might have been some bug, so I'm attaching the correct one.
Yes, it works exactly the way it should, however, there's one problem. The computer must be on (no saving mode)
all the time. If TP is reached while your computer is sleeping, the EA won't move the SL. Otherwise it should work fine.
It's just the same with second entries. Your comp. can't be in a saving mode when Entry 1 is hit. Otherwise, Entry 2
won't be set. Does it make sense to you ? :-)

Btw, I honestly think that second...
What is Version 2 fixing?

Thanks
  • #557
  • Nov 13, 2012 8:11am Nov 13, 2012 8:11am
Quoting Andrej7
Hello Nando, meantime, we updated the version cause there might have been some bug, so I'm attaching the correct one.
Yes, it works exactly the way it should, however, there's one problem. The computer must be on (no saving mode)
all the time. If TP is reached while your computer is sleeping, the EA won't move the SL. Otherwise it should work fine.
It's just the same with second entries. Your comp. can't be in a saving mode when Entry 1 is hit. Otherwise, Entry 2
won't be set. Does it make sense to you ? :-)

Btw, I honestly think that second...
Hi Andrej,

It doesn't appear on my screen. It doesn't even placed in indicator list when I apply it. Is it only my problem ?!

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #558
  • Nov 15, 2012 8:43pm Nov 15, 2012 8:43pm
Hello basber ,

are you still profitable using this method ? Im asking because almost all of the breakout systems in the forum seem to not work after some times according to their OP so Im wondering about yours.Any info on this will be appreciated .Thanks

Metta
  • #559
  • Nov 16, 2012 4:17am Nov 16, 2012 4:17am
Quoting metta87
Hello basber ,

are you still profitable using this method ? Im asking because almost all of the breakout systems in the forum seem to not work after some times according to their OP so Im wondering about yours.Any info on this will be appreciated .Thanks

Metta
Hi Metta,

Yes, I'm still doing fine. I must emphasize that I share the main idea. You can optimize it. I recommend working on TP2 for better result. But I think even basic version of the strategy which is shared here, was doing fine. You can test it yourself. It don't take that much time.

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #560
  • Nov 20, 2012 9:18am Nov 20, 2012 9:18am
Basber,

Like this breakout concept.
Thanks for your generosity in sharing this strategy; simple to trade and easy to follow!
Thumb up

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