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Jerry's new session break-out strategy

  • #121
  • Jan 20, 2013 12:06pm Jan 20, 2013 12:06pm
jmtini, please send me the details to your method via email ([email protected])
  • #122
  • Jan 20, 2013 12:57pm Jan 20, 2013 12:57pm
HI Jerry, I'd like the the new version as well. with indies and templ. if you have them.
don't give up on the afternoon trade is morning for me. (EST).
you can email if you prefer [email protected]
What would you do if you knew you could not fail?
  • #123
  • Jan 21, 2013 3:20am Jan 21, 2013 3:20am
Hi Jerry,
I'm sticking to your basic rules. Today morning one loss GBPUSD, one winner EURJPY. I let the winner run - so I made some pips (Demo only). I believe your basic rules are a good point to start with. But you always must have an eye on S/R, EMAs, etc. I do not use it blindly and I am still working an trade management.
Regards, creatifx
  • #124
  • Jan 21, 2013 4:05am Jan 21, 2013 4:05am
I have started to trade live this morning and only trading two pairs, eur/usd no trigger, eur/jpy stopped out -10pips however, if spreads are included in SL i would have got +10, so i think that is very important to include spreads in it as i am Fx-pro which is not a very low spread broker.

will post results to see how it goes! But no trading tonight becoz US holiday.

  • #125
  • Jan 21, 2013 4:11am Jan 21, 2013 4:11am
Good morning all !

My trade for the London session:

EU: not triggered and cancelled
GU: one loss
EJ: one win

No trade this afternoon due to US bank holyday. Note that I place pending orders taking into account SR/BRN and pp, as recommanded by Jerry.
  • #126
  • Jan 21, 2013 5:05am Jan 21, 2013 5:05am
all xxx.JPY pairs (AJ, GJ, EJ, UJ) made wins today.... GU, UC losses

volatility low today...so far
I never lose - either I win or I learn...
  • #127
  • Jan 22, 2013 3:25am Jan 22, 2013 3:25am
BE morning for me: EJ 1 loss 1 win, GU 1 win and EU 1 loss.
  • #128
  • Jan 22, 2013 3:40am Jan 22, 2013 3:40am
Quoting Fbird
BE morning for me: EJ 1 loss 1 win, GU 1 win and EU 1 loss.
hi fbird,

which broker you are using? you trading it on demo?

I got two losses on EJ today because of the spreads again! EU 1 loss as well. holy shit...
  • #129
  • Jan 22, 2013 3:48am Jan 22, 2013 3:48am
Today morning: 1 win GBPUSD, two losses EURJPY EURUSD.

BUT: The EURUSD loss could have been easily avoided if I would have set my entry below the daily +27,2 % FIB Line - only 5 or 6 pips away from the normal "15 pips" entry.

That's what I wrote earlier: I will look even more at the S/R nearby the entries. Today a short spike went down to the FIB Line, triggered my entry which was short above the line, went up to trigger my SL (GRRRR) to fall down millions of pips in the right direction (GRRR,GRRR).
  • #130
  • Jan 22, 2013 4:15am Jan 22, 2013 4:15am
Quoting sunhoyu
hi fbird,

which broker you are using? you trading it on demo?

I got two losses on EJ today because of the spreads again! EU 1 loss as well. holy shit...

Hi Sunhoyu !

I'm trading it on demo with IBFX. Spread are shit on GU and EJ (c.3pips). Note that I'm not trading the system on a mechanical way. I try to take into account obvious SR. It was very important for today session:

1) GU: my candle close was 1.58525, so entry by the book would have been 1.58375. However, today open was in my way at 1.58333, so I place my order at 1.5831. It did'nt bounce on the open line, but could have.

2) EJ: cancle close was 119.167 with entry at 119.017. This is obvious RN, with just below S1 and yesterday low. So I placed entry at 118.80. Price went 2 pips to TP but unfortunately turned up again. When I saw rejection of yesterday low and BRN, I entered a buy for a win.

3) EU: candle close was 1.3358 and entry 1.3343. Here again, obvious SR at 1.3345 with R3. Look at the chart and see how price struggled to break that resistance on the upside move. I placed my entry at 1.3343 for a loss. See the big move once price broke that the support. The difficulty is that SR are not exactly defined. They are more a zone. If I had entered 2 pips below, it would have been a win.
  • #131
  • Jan 22, 2013 4:35am Jan 22, 2013 4:35am
Quoting creatifx
Today morning: 1 win GBPUSD, two losses EURJPY EURUSD.

BUT: The EURUSD loss could have been easily avoided if I would have set my entry below the daily +27,2 % FIB Line - only 5 or 6 pips away from the normal "15 pips" entry.

That's what I wrote earlier: I will look even more at the S/R nearby the entries. Today a short spike went down to the FIB Line, triggered my entry which was short above the line, went up to trigger my SL (GRRRR) to fall down millions of pips in the right direction (GRRR,GRRR).
Hi creatifx !

I fully agree. SR and timing are key...
  • #132
  • Jan 22, 2013 4:38am Jan 22, 2013 4:38am
Quoting Fbird
Hi Sunhoyu !

I'm trading it on demo with IBFX. Spread are shit on GU and EJ (c.3pips). Note that I'm not trading the system on a mechanical way. I try to take into account obvious SR. It was very important for today session:

1) GU: my candle close was 1.58525, so entry by the book would have been 1.58375. However, today open was in my way at 1.58333, so I place my order at 1.5831. It did'nt bounce on the open line, but could have.

2) EJ: cancle close was 119.167 with entry at 119.017. This is obvious RN, with just below S1 and yesterday...
Thank you for your information fbird!

Last week was pretty ok to trade this system on the mechanical way, but the market condition today is completely not suitable for trading that way.

Jerry told us once not to trading when important news are expected to come.

fbird, will you trade tonight with this system? I found that trading this system during afternoon time is always break even.

I still looking forward to see the adjustment from jerry!

Happy trading!
  • #133
  • Jan 22, 2013 4:47am Jan 22, 2013 4:47am
Quoting sunhoyu
Thank you for your information fbird!

Last week was pretty ok to trade this system on the mechanical way, but the market condition today is completely not suitable for trading that way.

Jerry told us once not to trading when important news are expected to come.

fbird, will you trade tonight with this system? I found that trading this system during afternoon time is always break even.

I still looking forward to see the adjustment from jerry!

Happy trading!
Yes I will trade on NY open, but with caution. As recommanded by Jerry, I will not go against the current trend and try to respect SR...
  • #134
  • Edited 7:28am Jan 22, 2013 5:28am | Edited 7:28am
breakeven morning here..winners on eurusd and gbpusd..adn the bad side was on eurjpy with two losses..one just trigerred on one pip...so lets see the afternoon.

Regards and luck

edit: dou you have and statictic about how the system performed last months?. i remember you posted somthing about 90%...but maybe you meant other thing.
I speak about the 15 pips on the morning break and the 10 on ny one

Thanks
  • #135
  • Jan 22, 2013 9:39am Jan 22, 2013 9:39am
Managed to get some pips this afternoon. Here are my trades:

1) GU: no trade. Trend was up but there was obvious SR at entry price (high reached during London session).

2) EU: trend was down, but entry price would have been at RN. So, I put sell order at 1.3295. Easy win.

3) EJ: same as EU as I had round number on my way. Put sell order at 117.95. Was caught by the bounce up for a loss, but entered again on the pull back at RN for a win. So BE on EJ.
  • #136
  • Jan 22, 2013 11:39pm Jan 22, 2013 11:39pm
Quoting Fbird
Managed to get some pips this afternoon. Here are my trades:

1) GU: no trade. Trend was up but there was obvious SR at entry price (high reached during London session).

2) EU: trend was down, but entry price would have been at RN. So, I put sell order at 1.3295. Easy win.

3) EJ: same as EU as I had round number on my way. Put sell order at 117.95. Was caught by the bounce up for a loss, but entered again on the pull back at RN for a win. So BE on EJ.
Well done Fbird!

Yes the afternoon breakout is not quite as reliable as the morning


3 wins in the morning - EU could have been 30 pips - using new 15 pip SL
  • #137
  • Jan 22, 2013 11:43pm Jan 22, 2013 11:43pm
Hi everyone

Sorry I've been a bit scarce!

Been busy with some other things - I don't trade full time

What I think we should do is analyse each day at the end of the week. The strategy is working really well and I only think that using good judgement as Fbird is doing as well as allowing the trade to run like yesterday when the breakout was in full force - will glean us a lot of pips!
  • #138
  • Jan 23, 2013 12:28am Jan 23, 2013 12:28am
Quoting jmtini
Well done Fbird!

Yes the afternoon breakout is not quite as reliable as the morning


3 wins in the morning - EU could have been 30 pips - using new 15 pip SL
hi jerry,

so you are trading with 15 pips SL lately? What about the TP? still 10 pips or you increased to 15 pips as well?
  • #139
  • Jan 23, 2013 3:32am Jan 23, 2013 3:32am
Hi all,

EU loss, EJ win, GU win...
  • #140
  • Jan 23, 2013 12:39pm Jan 23, 2013 12:39pm
Quoting sunhoyu
hi jerry,

so you are trading with 15 pips SL lately? What about the TP? still 10 pips or you increased to 15 pips as well?


Hi sunhoyu

I did suggest a 15 pip SL some time back but really I think the SL should be put behind nearest resistance/support area if at all possible as long as it's not many pips away of course.
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