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A Simple London Breakout V.2

  • #1,361
  • Nov 12, 2015 7:32am Nov 12, 2015 7:32am
USDCAD LONG for earlier this morning.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADM15_nov12th.png Size: 51 KB
Know your edge and trade within it
  • #1,362
  • Nov 12, 2015 7:54am Nov 12, 2015 7:54am
AUDUSD has reached its first target.
Know your edge and trade within it
  • #1,363
  • Nov 12, 2015 8:17am Nov 12, 2015 8:17am
AUDUSD target 2 has been reached.
Know your edge and trade within it
  • #1,364
  • Nov 12, 2015 9:25am Nov 12, 2015 9:25am
Quoting fxtrader29ca
AUDUSD target 2 has been reached.
The strategy seems very effective but time consuming. Is it so?
  • #1,365
  • Nov 12, 2015 9:33am Nov 12, 2015 9:33am
Quoting Fotovinic
{quote} The strategy seems very effective but time consuming. Is it so?
You just have to wait for the trade to develop. I see the EURUSD long to the upside has hit its first target.
Know your edge and trade within it
  • #1,366
  • Nov 12, 2015 6:41pm Nov 12, 2015 6:41pm
A review of today's action:

AUDUSD SHORT 2 targets.
EURUSD SHORT 1 target.
GBPUSD (Cable) Long 1 target
USDCAD (biggest winner today) 3 targets
USDJPY 2 targets

Comments and thoughts about the charts are welcomed.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDUSDM15_NOV12th_2015.png Size: 43 KB
Click to Enlarge Name: EURUSDM15_NOV12TH_2015.png Size: 42 KB
Click to Enlarge Name: GBPUSDM15_NOV12th_2015.png Size: 47 KB
Click to Enlarge Name: USDCADM15_NOV12th_2015.png Size: 46 KB
Click to Enlarge Name: USDJPYM15_NOV12th_2015.png Size: 49 KB
Know your edge and trade within it
  • #1,367
  • Nov 13, 2015 12:58am Nov 13, 2015 12:58am
USDCAD H4 buy signal, I am not clear, on where to enter the trade. Please assist.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.PNG Size: 84 KB
  • #1,368
  • Nov 13, 2015 1:12am Nov 13, 2015 1:12am
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY.PNG Size: 82 KB
  • #1,369
  • Nov 13, 2015 6:01am Nov 13, 2015 6:01am
Quoting Nkululekofor
USDCAD H4 buy signal, I am not clear, on where to enter the trade. Please assist.{image}
I am not sure if you noticed but your chart is totally different than what we are talking about on this thread. Download the template . I can't assist with the chart you are currently sharing.
Know your edge and trade within it
  • #1,370
  • Nov 13, 2015 6:57am Nov 13, 2015 6:57am
What is everyone looking at today?
Know your edge and trade within it
  • #1,371
  • Nov 13, 2015 8:28am Nov 13, 2015 8:28am
EURUSD long first breakout trade to the upside. It hit target one.

EURUSD short trade was a bit tricky. You had to wait for bar close in this case. I did not take the short trade on EURUSD because it was close to retail sales data.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM15_NOV13th_2015.png Size: 49 KB
Know your edge and trade within it
  • #1,372
  • Nov 17, 2015 2:57am Nov 17, 2015 2:57am
[quote=fxtrader29ca;8590413]{quote} I am not sure if you noticed but your chart is totally different than what we are talking about on this thread. Download the template . I can't assist with the chart you are currently sharing.[/qu

The chart I am using is in line with my trading system. Isn't possible for all of us to using different chart but spot similar trading opportunities?
  • #1,373
  • Nov 17, 2015 9:26am Nov 17, 2015 9:26am
[quote=Nkululekofor;8595572]
Quoting fxtrader29ca
{quote} I am not sure if you noticed but your chart is totally different than what we are talking about on this thread. Download the template . I can't assist with the chart you are currently sharing.[/qu The chart I am using is in line with my trading system. Isn't possible for all of us to using different chart but spot similar trading opportunities?
It sure is!
Know your edge and trade within it
  • #1,374
  • Nov 22, 2015 7:16pm Nov 22, 2015 7:16pm
Hi fxtrader29ca,
Could you forward your template. Mine looks different. Will try the M15 this week. H1 is not so good.
  • #1,375
  • Nov 23, 2015 3:58am Nov 23, 2015 3:58am
Quoting global168
Hi fxtrader29ca, Could you forward your template. Mine looks different. Will try the M15 this week. H1 is not so good.
  • #1,376
  • Nov 24, 2015 9:08am Nov 24, 2015 9:08am
Quoting toppo qqq
Hi sabari and global168, nice to see you guys joining. With GBPJPY, an extra opportunity for a good profit. This broker is IFCMarket. A profit/loss with trailing EA was used. Will be testing 3 different settings with this EA with two more brokers, FXDD and FxOpen to compare the setting. For your reference, am zipping them. Have a nice weekend. {image} {file}
Hello Toppo and all!

I have been trying a maybe earlier version of the London BO Indi (v9.1) by Squalou. The version in this thread looks more advanced, with TP points.... I have been trying to find a working EA for the strategy for 2 weeks, but I cannot find anything that works...

You mentioned that you do have the EA and you were using it. Would you mind posting it? The one in the 1st post has an errorapparently, because when I try to activate it I get "'3 Tier London Breakout EA v1.3b' is not expert and cannot be executed"

Your sharing is much appreciatted. Best of luck!!
  • #1,377
  • Nov 24, 2015 9:11am Nov 24, 2015 9:11am
Fixed!!
This problem is fixed by

Removing or commenting the line
#property show_inputs
  • #1,378
  • Edited 9:51am Nov 24, 2015 9:33am | Edited 9:51am
Hello again,

I just began testing the EA and I'm surprised to have finally found one that apparently works and looks fine!!!

Just 2 ideas and a question:

A) One thing that I am concerned about though is that I could not find a setting to place a "buffer zone" outside the box before entering the trade.

In the originals, I could set up a margin of 5-6 pips after the box boundaries so the EA would not enter a position until it reached the end of the buffer.

Does "3 Tier London Breakout EA v1.3b" have the feature and I did not see it?

If not, would it be possible to add it to the EA?

B) In the previous versions, I could actually see past setups. In this one I'm only getting the last day's.

C) I'm not attaching the Indicator, should I? When I attach it, it does show past setups,but the latest gets "dirty" with letters overimposing.

Thank you in advance!!
  • #1,379
  • Nov 26, 2015 1:42am Nov 26, 2015 1:42am
hi guys, I was reading through and following this thread extensively last year, when it was still pretty inactive since 2013.

Glad to see it has come alive again.

I did extensive backtesting using EA back in the day but unfortunately have lost most my findings from back then, however it did show up some very promising results with varied settings.

one thing was for sure tho.... if you use the martingale, there will come a point in time where it will wipe you account.

my objective has been to try and find the most safest and consistent setting that stands the test of time.

I still think this strategy is best traded manually, using price action and limited indicators to confirm breakout direction. the biggest drawback using EA is fakeouts

personally i like waiting for price to break, pull back and place order above the new high

attaching my indicators an EA's which seem to be working no problem

appreciate the rest of you guys trading the daily breakout can share the settings you are using, ie, times in gmt, and tp/sl levels
Attached File(s)
File Type: ex4 3 Tier London Breakout EA v1.3b.ex4   47 KB | 1,525 downloads
File Type: mq4 3 Tier London Breakout EA v1.3b.mq4   58 KB | 1,777 downloads
File Type: ex4 3 Tier London Breakout V.3.3b.ex4   35 KB | 1,832 downloads
File Type: mq4 3 Tier London Breakout V.3.3b.mq4   21 KB | 2,533 downloads
  • #1,380
  • Nov 26, 2015 3:25am Nov 26, 2015 3:25am
Hi Slumdog,
"the biggest drawback using EA is fakeouts...."

I agree about the fakeouts & change of directions.... They kind of ruin all the good trades. So, I am working on a couple of indicators to solve that problem.
(I prefer manual trading on H1. Wouldn't trust an EA).
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