LONG GU from 1.5527.
- | Membership Revoked | Joined Feb 2013 | 2,217 Posts
I am more afraid of 100 sheep led by a lion than 100 lions led by a sheep!
Spud's MTF FIB Breakout System 369 replies
London Rush - Breakout Trading System 18 replies
Fib Breakout alert coding help needed 0 replies
Fib-Breakout-Math-Hedge 18 replies
QuoteDislikedStop loss will be close of candle on the opposite side, ie below lower limit for uptrend and vice versa.
Disliked{quote} Just read the system description, SL is the close of a 30min candle below the range. I have just set a hard SL 30 pips below the range but you will have to watch the price now.Ignored
Disliked{quote} Just read the system description, SL is the close of a 30min candle below the range. I have just set a hard SL 30 pips below the range but you will have to watch the price now.Ignored
Disliked{quote} That is your personal interpretation of the instructions. But the instructions leave much room for different interpretations. Thatīs why several members ask for clarification.Ignored
Disliked{quote} I understand. So then there is no SL at all because nobody on earth is able to predict on what price a 30 min candle will close on the other side of the range. You would have to watch the trade all the time in order to catch that candle close according to the description. Not the best thing to do. You have to be glued to the screen or use an alert which is telling you that price went against your position and now has crossed the opposite range-line.Ignored
Disliked{quote} Precisely - unlike many break-out strategies this isn't totally set and forget! It won't suit those who can't monitor their trades every 30 minutes. I used to trade break-out strategies for a living and it ain't easy psychologically - most BO's have excellent runs (some even into years), followed by awful drawdown periods. Newbies, be warned.Ignored
Disliked{quote} It depends on what kind of breakout does not work. I think if the system is based on certain pattern, it works. Like breakout at horizontal support and resistance for pattern (wave, head and shoulder, triangle and etc) is more logical and valid. To add, non pattern based breakout is relative to market volatility. London breakout does not work forever, it work well when price happens at the right time and right scenario after i did some test.Ignored
DislikedYesterday's Trade went to loss in GU as i did not want to wait for the trade to run today. so i closed in loss. I have also attached my trade explorer to the thread so you can monitor the systems growth. Started to add EJ to the system which already is good with EU and GU Cheers, PIP GURUIgnored
Disliked{quote} Thanks for adding the Trade Explorer - looks great at the moment! The closing of open trades at the end of the day, can this be added as a rule or are you just using discretion?Ignored