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Mika's Breakout strategy

  • #281
  • Jan 27, 2015 7:19am Jan 27, 2015 7:19am
i often use the height of the channel as TP, because when hit hits TP1, there is a possibility to retrace.
i dont want it to come back, might as well close it hahaha
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  • #282
  • Jan 27, 2015 7:30am Jan 27, 2015 7:30am
Today market is cheating... few signals at USDCAD being SLed...
  • #283
  • Jan 27, 2015 7:36am Jan 27, 2015 7:36am
And finally UJ short TP + 26 pips.
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  • #284
  • Jan 27, 2015 7:41am Jan 27, 2015 7:41am
Quoting mikajap
i often use the height of the channel as TP, because when hit hits TP1, there is a possibility to retrace.
Yeah, my problem with this approach is that with initial SL on the other side of the channel (preferable over the other side of the signal bar, and also accounting for spread) that usually comes down to an initial 0.5 < R/R < 1. Nevertheless a closer TP definitely yields higher success rate.
  • #285
  • Jan 27, 2015 7:49am Jan 27, 2015 7:49am
Tried this EURJPY long on M5. A loss -23 pips.
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I think a continuation confirmation of the BO candle (ie. entry over HI/LO of BO candle) is useful especially when BO from a flat line. This time I did not wait for one in hope of a better SL. Not worth it!
  • #286
  • Jan 27, 2015 7:51am Jan 27, 2015 7:51am
Quoting kehindesalak
Going Long on USDCAD. R:R target is 30Pips. SL is 30pips. RSI 14 is above the 55level (no range). lets see how it goes. {image}
SL hit
  • #287
  • Jan 27, 2015 7:54am Jan 27, 2015 7:54am
Quoting Carpathian
And finally UJ short TP + 26 pips. {image}
hahah..what a fight with UJ

Quote
i often use the height of the channel as TP, because when hit hits TP1, there is a possibility to retrace.

I got that experience in testing period

UC is ready for action :nerd:
You just got to have the Bad Days, so you can Love the Good Days even more!
  • #288
  • Jan 27, 2015 8:01am Jan 27, 2015 8:01am
hi guys,

sorry but i dont monitor small TF's so i cant give some setups to share.

i do suggest that for M30 and below, that you use a trend filter and cherry pick best looking trades (One with best SL to TP ratio)

Reaction is better than Prediction
  • #289
  • Jan 27, 2015 8:05am Jan 27, 2015 8:05am
TP Hit on GU 50pips. thats 3 losses 1 win so far. lost on USDCAD, NZDCAD and AUDCAD.
Attached Image (click to enlarge)
Click to Enlarge Name: GU.jpg Size: 185 KB
  • #290
  • Jan 27, 2015 8:24am Jan 27, 2015 8:24am
Quoting StefyRox
{quote} UC is ready for action
Hit 15 TP
Enough real today! Starting demo now.. AU is ready for action on 30M

Edit : not going to take AU due low volatility
You just got to have the Bad Days, so you can Love the Good Days even more!
  • #291
  • Jan 27, 2015 8:26am Jan 27, 2015 8:26am
GU + UJ TP hit,
  • #292
  • Jan 27, 2015 8:46am Jan 27, 2015 8:46am
Quoting kehindesalak
TP Hit on GU 50pips. thats 3 losses 1 win so far. lost on USDCAD, NZDCAD and AUDCAD. {image}
USDCAD short hit TP 40pips. The other trade is still in progress. that's 3 losses, 2 wins now. soon it would be 3-3.
Attached Image (click to enlarge)
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  • #293
  • Jan 27, 2015 8:50am Jan 27, 2015 8:50am
Quoting StefyRox
{quote} Hit 15 TP Enough real today! Starting demo now.. AU is ready for action on 30M Edit : not going to take AU due low volatility
i smell an AU bullish breakout.
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  • #294
  • Jan 27, 2015 8:57am Jan 27, 2015 8:57am
Quoting mikajap
{quote} i smell an AU bullish breakout.
It already hit my 15 TP if I jumped in..lol
You just got to have the Bad Days, so you can Love the Good Days even more!
  • #295
  • Jan 27, 2015 9:28am Jan 27, 2015 9:28am
Quoting Carpathian
...I think a continuation confirmation of the BO candle (ie. entry over HI/LO of BO candle) is useful especially when BO from a flat line...
This time entry on confirmation! +30 pips.
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Click to Enlarge Name: Screenshot1.png Size: 44 KB
  • #296
  • Jan 27, 2015 9:39am Jan 27, 2015 9:39am
Quoting Carpathian
{quote} This time entry on confirmation! +30 pips. {image}
yes, sometimes i also put an order 1 pip above high or low if i want a confirmed setup. nice trade and pips "
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  • #297
  • Jan 27, 2015 10:03am Jan 27, 2015 10:03am
Quoting mikajap
{quote} yes, sometimes i also put an order 1 pip above high or low if i want a confirmed setup. nice trade and pips "
Attached Image
  • #298
  • Jan 27, 2015 10:13am Jan 27, 2015 10:13am
Quoting Carpathian
{quote} {image}
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  • #299
  • Jan 27, 2015 10:29am Jan 27, 2015 10:29am
Quoting happytrade38
{quote} Hi Julesocean, Can post pre and post for the screenshot?
Attached Image (click to enlarge)
Click to Enlarge Name: pre.PNG Size: 50 KB

Attached Image (click to enlarge)
Click to Enlarge Name: post.PNG Size: 50 KB
  • #300
  • Jan 27, 2015 10:43am Jan 27, 2015 10:43am
Quoting julesocean
{quote} {image} {image}
i think this can be mt4 build issues, maybe you can install a new mt4 and test the indicator there.

you can download http://www.metaquotes.net/

or you can try this one works no problem here
http://download.fxcorporate.com/FXCM-MT4Install.exe
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