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Mika's Breakout strategy

  • #181
  • Jan 22, 2015 7:54am Jan 22, 2015 7:54am
yes its counter trend because trend is down.

but trend or counter trend, there is opportunity to make some pips with the right entry and TP reference
Reaction is better than Prediction
  • #182
  • Jan 22, 2015 9:05am Jan 22, 2015 9:05am
Hi, USDJPY SHORT in progress. So far, 4 trades today, 3 wins 1 loss. Lets see how this goes. Target is 1:1 RR.
Attached Image (click to enlarge)
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  • #183
  • Jan 22, 2015 9:58am Jan 22, 2015 9:58am
Quoting kehindesalak
Hi, USDJPY SHORT in progress. So far, 4 trades today, 3 wins 1 loss. Lets see how this goes. Target is 1:1 RR. {image}
Lost this trade. Well you win some and lose some.
  • #184
  • Jan 22, 2015 10:19am Jan 22, 2015 10:19am
Quoting kehindesalak
{quote} Lost this trade. Well you win some and lose some.
indeed a part of it
Reaction is better than Prediction
  • #185
  • Jan 22, 2015 10:23am Jan 22, 2015 10:23am
Well last trade of the day, GBPAUD Short, target hit R:R 1:1 71 pips. Made up for the earlier USD/JPY loss. 5 trades 2 losses 4 Wins. Not a bad day.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD.jpg Size: 186 KB
  • #186
  • Jan 22, 2015 10:42am Jan 22, 2015 10:42am
Dear Mika,

Thank you for sharing this system!

I took the attached UCAD short, and it went SL. Did I do something against the rules, or is it just bad timing (eg. because it was a countertrend trade)?
Thank you,
Áron
Attached Image (click to enlarge)
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  • #187
  • Jan 22, 2015 10:56am Jan 22, 2015 10:56am
Quoting kehindesalak
Well last trade of the day, GBPAUD Short, target hit R:R 1:1 71 pips. Made up for the earlier USD/JPY loss. 5 trades 2 losses 4 Wins. Not a bad day. {image}
  • #188
  • Jan 22, 2015 11:49am Jan 22, 2015 11:49am
Quoting Carpathian
Dear Mika, Thank you for sharing this system! I took the attached UCAD short, and it went SL. Did I do something against the rules, or is it just bad timing (eg. because it was a countertrend trade)? Thank you, Áron {image}
the trade is ok and setup is right. its was a lost.

I advice that when trading smaller time frames, its better not to counter trend.
i saw it was M15, and there will be more signals to cherry pick. so pick the trend signals.
Reaction is better than Prediction
  • #189
  • Jan 22, 2015 11:52am Jan 22, 2015 11:52am
Quoting kehindesalak
Well last trade of the day, GBPAUD Short, target hit R:R 1:1 71 pips. Made up for the earlier USD/JPY loss. 5 trades 2 losses 4 Wins. Not a bad day. {image}
nice, i also took the GBPAUD but earlier(because of a diff system) but later was confirmed by this BO system

Happy pips
Reaction is better than Prediction
  • #190
  • Jan 22, 2015 1:17pm Jan 22, 2015 1:17pm
thankyou for sharing this system. how can we use pivot and murrey math as suggested by bitu?
Price is too tricky to handle
  • #191
  • Jan 22, 2015 1:31pm Jan 22, 2015 1:31pm
Quoting mikajap
{quote} nice, i also took the GBPAUD but earlier(because of a diff system) but later was confirmed by this BO system Happy pips

different system
  • #192
  • Jan 22, 2015 1:38pm Jan 22, 2015 1:38pm
Quoting bassemmixez
{quote} different system
yes, of course i do different systems in my trading.

but you dont have to worry about it since it is not concerned with this system.
Reaction is better than Prediction
  • #193
  • Jan 22, 2015 1:41pm Jan 22, 2015 1:41pm
Quoting trikg
thankyou for sharing this system. how can we use pivot and murrey math as suggested by bitu?
you can use it as filter for trades. or take profit levels as the usual way they are used.

You can add your personal rules to this system to enhance it.

just keep it simple
Reaction is better than Prediction
  • #194
  • Jan 22, 2015 2:10pm Jan 22, 2015 2:10pm
Quoting mikajap
{quote} yes, of course i do different systems in my trading. but you dont have to worry about it since it is not concerned with this system.
take it easy .

Just joking with u
  • #195
  • Jan 22, 2015 2:52pm Jan 22, 2015 2:52pm
Quoting mikajap
...I advice that when trading smaller time frames, its better not to counter trend. i saw it was M15, and there will be more signals to cherry pick. so pick the trend signals.
Thanks!

Later I managed to get some TPs and a BE.

TP
Attached Image (click to enlarge)
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BE
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TP
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TP
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TP
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A strong USD made it happen this time.
I am on demo, see you later.
  • #196
  • Jan 22, 2015 3:20pm Jan 22, 2015 3:20pm
Quoting mikajap
...i prefer to trade the london session signals to reduce unnecessary noise...
Quoting mikajap
...if i win 2 times, i stop trading for the day...
I've seen the same concepts at Udine's system 'As simple as possible 00 level trading' and I am happy to see you share some common thoughts! :-)
  • #197
  • Jan 22, 2015 11:49pm Jan 22, 2015 11:49pm
Quoting mikajap
{quote} you can use it as filter for trades. or take profit levels as the usual way they are used. You can add your personal rules to this system to enhance it. just keep it simple
ok. so more indicators will complicate it. i see murrey has to many lines.will demo this strategy todaythanks again mika
Price is too tricky to handle
  • #198
  • Jan 22, 2015 11:52pm Jan 22, 2015 11:52pm
Quoting Carpathian
{quote} {quote} I've seen the same concepts at Udine's system 'As simple as possible 00 level trading' and I am happy to see you share some common thoughts! :-)
you use the system in M15? what is average profit? better than H1?
Price is too tricky to handle
  • #199
  • Jan 23, 2015 12:51am Jan 23, 2015 12:51am
Good morning Y'all. spotted possible signals on UCAD, GBPUSD and GBPJPY. Who's already in these trades. I am.

Best Regards
  • #200
  • Jan 23, 2015 1:32am Jan 23, 2015 1:32am
you are in before the signal? what if there will be no signal?
Price is too tricky to handle
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