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Mika's Breakout strategy

  • #201
  • Jan 23, 2015 1:53am Jan 23, 2015 1:53am
Quoting trikg
{quote} you use the system in M15? what is average profit? better than H1?
Hello Trikg,
I have no idea, tried it only yesterday for the first time.
  • #202
  • Jan 23, 2015 3:08am Jan 23, 2015 3:08am
setup on AUDUSD

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Reaction is better than Prediction
  • #203
  • Jan 23, 2015 3:16am Jan 23, 2015 3:16am
GBPAUD

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Reaction is better than Prediction
  • #204
  • Jan 23, 2015 5:10am Jan 23, 2015 5:10am
3 trades to this system,

AUDUSD Win (20Pips)
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GBPAUD BE
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EURAUD Win (40Pips)
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Reaction is better than Prediction
  • #205
  • Jan 23, 2015 5:46am Jan 23, 2015 5:46am
there are also other pairs with valid setups that hit TP/in profit

MIka
Reaction is better than Prediction
  • #206
  • Jan 23, 2015 6:48am Jan 23, 2015 6:48am
So far, two trades closed today: AUDUSD, AUDCAD SHORTs TP hit. Target 40 pips n 32 pips resp. USDCAD buy and GBPUSD SHORT still in progress.
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  • #207
  • Jan 23, 2015 7:38am Jan 23, 2015 7:38am
Quoting mikajap
there are also other pairs with valid setups that hit TP/in profit MIka
Hi Mika

Your EUR/AUD set up is different than mine! my one is not a sell becoz ADX indicator is blue? any comment?

thanks
Attached Image (click to enlarge)
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  • #208
  • Jan 23, 2015 8:07am Jan 23, 2015 8:07am
Hello, this stategy reminds me a bit of another strategy named "Another London Breakout". It worked very well, and had a wonderful EA coded that followed the rules.

Unfortunately the EA stopped working with all the updates to MetaTrader

Thank you for sharing Mika
  • #209
  • Jan 23, 2015 8:15am Jan 23, 2015 8:15am
Quoting kavindu123
{quote} Hi Mika Your EUR/AUD set up is different than mine! my one is not a sell becoz ADX indicator is blue? any comment? thanks{image}
Hi, the,maybe a difference in slight price feed. I noticed that the nihilist ADX is sensitive to closing price.
if you have further questions to the ADX, you should ask
http://www.forexfactory.com/nihilist
Reaction is better than Prediction
  • #210
  • Jan 23, 2015 8:23am Jan 23, 2015 8:23am
Quoting Leeson
Hello, this stategy reminds me a bit of another strategy named "Another London Breakout". It worked very well, and had a wonderful EA coded that followed the rules. Unfortunately the EA stopped working with all the updates to MetaTrader Thank you for sharing Mika
You are welcome. be sure to try it out
Reaction is better than Prediction
  • #211
  • Jan 23, 2015 8:51am Jan 23, 2015 8:51am
Quoting kehindesalak
So far, two trades closed today: AUDUSD, AUDCAD SHORTs TP hit. Target 40 pips n 32 pips resp. USDCAD buy and GBPUSD SHORT still in progress. {image} {image}
Got stopped out on gbpUSD. Closed the USDCAD because of the news. Well 2 wins and 2 losses.
  • #212
  • Jan 23, 2015 9:43am Jan 23, 2015 9:43am
Thanks for this, will backtest it next week!
  • #213
  • Jan 23, 2015 10:17am Jan 23, 2015 10:17am
Hi Folks,
6 trades today, 3 TP, 2 TS (on UJ), total gain 53 pips. Setups worked nice in the morning.
Have a nice weekend!
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  • #214
  • Jan 23, 2015 10:54am Jan 23, 2015 10:54am
Hi, m15 results look interesting. I watched H1 today and majority of setups are profit
Price is too tricky to handle
  • #215
  • Jan 23, 2015 11:47am Jan 23, 2015 11:47am
Hi Guys,
Just a question on the R/R of this system. Lets say we have a buy arrow and candle has closed say 10 pips above upper line,
and lets say channel height is 25pips so distance for s/l just below bottom line is 35pips or so, if t/p is height of channel we have a stop of 35 and a t/p of 25, that's not even a 1:1 ratio or am I wrong on this(knowing me probably am). Also can anyone shed a
bit more info on when to target 2xt/p or what to look for.
Cheers
Geoff
  • #216
  • Jan 23, 2015 1:40pm Jan 23, 2015 1:40pm
Hey guys, does anyone know how the channel is calculated? Is a common indicator?
  • #217
  • Jan 23, 2015 3:05pm Jan 23, 2015 3:05pm
Quoting GEOFFREY62
...if t/p is height of channel we have a stop of 35 and a t/p of 25, that's not even a 1:1 ratio or am I wrong on this (knowing me probably am). Also can anyone shed a bit more info on when to target 2xt/p or what to look for. Cheers Geoff
Hello Geoff,
You are actually right, in that case it is less than 1:1 ratio. Can you please refer to page 1 the rules of this system, you'll see there are several options for SL/TP at the discretion of the trader.
I personally enter with an initial 1/1 R/R then adjust TP and SL according to actual price action and nearby S/R levels.
Áron
  • #218
  • Jan 23, 2015 11:47pm Jan 23, 2015 11:47pm
Quoting mikajap
{quote} Hi, the,maybe a difference in slight price feed. I noticed that the nihilist ADX is sensitive to closing price. if you have further questions to the ADX, you should ask http://www.forexfactory.com/nihilist

thanks mika
  • #219
  • Jan 24, 2015 4:51am Jan 24, 2015 4:51am
Interesting. Thank you Mika san for sharing your knowledge!

Thanks,
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #220
  • Jan 24, 2015 5:47am Jan 24, 2015 5:47am
Quoting mikajap
This system is VERY EASY, just give some time to understand. Entry points are 100% NON SUBJECTIVE. JUST wait for a signal...confirm the signal...push the button...Done.! The setup is what matters since we are only grabbing reasonable PIPS per trade Please don't ask about my personal accounts, live trading etc. Since i trade diff strategies including this one. If you are interested with the strategy, please test it yourself. I wont be responsible for losses I. TIMEFRAME & PAIR This works on Any pair or Any timeframe (Best...
Hi mikajap, congrats for your thread and strategy - looks like a great idea - the charts look amazing ... wishing you a Green trading experience

P.s. see you over @ the OSS, MathTrader7 is developing an interesting EA for it - very technical stuff ...
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