7am-9am Big Dog USD Breakout Strategy

can someone please let me know if now, with daylight savings time it should be from 1300-1500?
thanks!

Hi stinechris12
In my opinion and the current timetable, should be 12 to 14 GMT for operational at the time of new york

thanks maxh

Hi Vitzaza
Could you please explain how exactly this indicator works. Is it indicator or EA? I added to my platform and obviously should be usable for small timeframes (5/15).
Thank you

keep trying to execute your breakout strategies, the marketmakers know exactly what to do with you kind of traders.

Hi everyone, as I have come into this strategy for the first time, I found that it was right for me.
As you can see from the picture, GU performed very well with 9 consecutive candles.
Because the strategy suggests at about 30-50 pip TP, I bought at about 1.4180, and I closed at 1.4212.
After that, I realized that price go further about 100 pip from the breakout. but that's fine for me
This strategy is still OK!!!

Hi,

This is Muralidhar from Bangalore, India. I would like to try this strategy once. This sound good. I am using MT4, I need to clear some doubts. 14:00hrs and 16:hrs New York time, in India what it should be? Should we take the heighs and lows in between that 9 candles? including 1st and 9th? Please clarify this.

India time would be 5.30 to 7.30 evening.

Thanks for the early reply friend. Kind of you. Let me try this on Monday.

Should we consider 1st and 9th candle too for the heigh and low? or in between them should be considered
Please find the attachment and let me know is it correct or not, If correct, here it went wrong, right?

Yes, 1st and 9th candle to be considered as I see in the chart in post# 90.

Hello, guys!

Just starting this strategy right now.

can someone share your strategie details, and if possible, personal improvements?

Id like to know:

1- the set up of TP and SL - if its 1:1 risk reward ratio or more, if you close partially at 30 pips and then go trailing....the percentage of the closes, etc. The size of trailing stops.

2- If this strategie is tradable only with news or can be traded every single day.

3- Will I put my TP on 15 pips or 30 pips? Have someone backtested? Does my TP is correlated with the previoues 9 candle range? Do I strictely need to follow the triggers with smaller ranges, like the first post said?

4- if you got some improvement tested, and can recommend me.

Thanks a lot and best regards guys.


Maitrader

Hi geethavision - this did NOT work because the range of pips was over the threshold of 50-60 pips. I'd trade with a range BELOW 50 pips and it works!

During UK British summer time, does it still apply at 14:00 and 16:00?

Just asking,
is there a EA based on this strategy?

Did anyone seriously tested this on UK open and Asian Open ?

Yes, I have tested it on UK open. Yesterday charted at 14:00 and 16:00, no visible trades were seen until the next day, BUT this would revoke the set up anyway.
Prior to this date, I tested it with great results.

If only it was as easy as this. I would use and EA and set and forget it. I think the main killer of this strategy will be the 15 pip trailing stop. During regular trade hours like NY and London session being open, 15 pips is not enough. You would need to start stops at about 60 pips and incorporate some sort of BE point for management.

To say that this is a successful strategy I think is misleading and I do not mean to cause offense to the thread originator by this statement. I'll leave you with a screenshot of what is a backtest of an EA I quickly programmed based on the post 1 strategy. However, I have not left a trailing stop of 15 pips as the demo was just dwindling down the account with very little profit at all. What I have used but you will notice is still choppy in periods in terms of P/L is a 60 pip trailing stop. Maybe I could apply a 30pip BE to 5 TP but I got other projects to work on at the moment.

Best Regards,

Daniel

I like this strategy. I used it for several months a few years ago, when I was unavailable for London session. It worked well for me, and it seemed to be working for others too.

One important point is that the first post has contradictory information about the correct start and end times for determining the breakout price range. The correct times are 7AM - 9AM Eastern Time (one hour before and one hour after NY session start at 8AM ET). For most traders living in the U.S. this is an easy conversion. But if you are outside of the U.S. it can get a little tricky. For one thing, the conversion to / from GMT is different when the U.S. is on daylight savings time than it is when it's on standard time. Another is that chart times aren't always the same as GMT, but some traders incorrectly assume they are.

The OP was apparently using his chart times instead of GMT at first, when he referred to 14:00 - 16:00, and never really corrected that. But later on he did correctly add a line that said:

*THE TIMEZONE IS BETWEEN 7AM-9AM New York Time*

He also added a link that is no longer working:

http://www.2008.worldmarkethours.com/Forex/index.htm

I found a similar one here that is working:

http://www.2013.worldmarkethours.com/Forex/index.htm

But I still prefer using this one for determining times around the world (including New York):

http://www.timeanddate.com/worldclock/

Another important point is that not everyone used that 15 pip trailing stop described in the first post. And while I was trading the strategy, we also ignored the 50-60 pip warning. If price broke out of the range before 3PM ET we would take the trade unless there was something going on that we didn't like (news, month end, year end, odd price action, strong support / resistance in the way of price, etc.). Where your TP and SL went, was largely discretional. I didn't bother using the indicator provided in post #1 but did draw horizontal lines.

http://www.forexfactory.com/showthre...50#post2429150

http://www.forexfactory.com/showthre...47#post2418347

By the way, the OP was not the originator of the strategy. An FF member named CTGUY apparently was and you can find better information about the strategy from him in this thread than you can from the OP.

I am surprised to see the thread in the Commercial area. It wasn't there while I was trading it.

I can't vouch that this strategy is still working. Things may have changed. But it is an interesting way to trade, and was profitable a few years ago.

Is this thread still live? I'm trading and testing a US Open breakout system based on the Forex Breakout Direction Indicator

Craig
Away From Keyboard Forex
www.forexbreakout.co.uk

Made 6.44% account growth and 242.2 pips using the Forex Breakout Direction Indicator on the US Open session

https://www.myfxbook.com/members/afk...s-open/1763354