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Simple morning hours breakout system - forward test $1000 => ?

  • #21
  • Feb 18, 2016 8:14am Feb 18, 2016 8:14am
Yeah, I might do that!

Continue trailing...
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_180216_7.png Size: 12 KB
  • #22
  • Feb 18, 2016 8:47am Feb 18, 2016 8:47am
Stopped out. Done for the day.
  • #23
  • Feb 19, 2016 2:31am Feb 19, 2016 2:31am
Good morning. New day, new examples.

EUR/USD:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_190216_1.png Size: 13 KB


GBP/JPY:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy_190216_1.png Size: 16 KB
  • #24
  • Feb 19, 2016 2:49am Feb 19, 2016 2:49am
EUR/USD sell stop filled. Now added a sell limit at 50% of the candle to enter another position for a possible retracement:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_190216_2.png Size: 14 KB
  • #25
  • Feb 19, 2016 3:35am Feb 19, 2016 3:35am
EUR/USD target hit. All pending orders are removed. Stop for the remaining position will be trailed:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_190216_3.png Size: 14 KB


GBP/JPY stop sell filled. Added a sell limit order at 50% of the candle size for a possible retracement:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy_190216_2.png Size: 16 KB
  • #26
  • Feb 19, 2016 3:47am Feb 19, 2016 3:47am
Nice trades for you today....well done.

Gbp news tonight....do you take notice of that....or just let it play out how it does?

If your first lot of orders is stopped out.....do you leave the other ones to run.......

So you get a sell opened and stopped out.

The buy orders are left there and open.....managed in the same way ?

Thanks.
  • #27
  • Feb 19, 2016 3:58am Feb 19, 2016 3:58am
Quoting Forexmeoff
Nice trades for you today....well done. Gbp news tonight....do you take notice of that....or just let it play out how it does?
News doesn't bother me at all. Usually I skip the NFP friday because there is just range trading till that news which often lead to bad trades. Beside that I don't care, even though that spread widening sometimes hurt my trades as well.

Quote
If your first lot of orders is stopped out.....do you leave the other ones to run....... So you get a sell opened and stopped out. The buy orders are left there and open.....managed in the same way ? Thanks.

Yes. The opposite order (today the stop buy ones) stays in place as long as the initial target of the other side is not reached. As soon as it's reached like for EUR/USD all pending orders in that pair are removed. If it's stopped out before it reached its target, the stop buy stays there and is managed the same way.

In bad days this can lead to 4 losses in a row of course.
  • #28
  • Feb 19, 2016 4:01am Feb 19, 2016 4:01am
Trailing the stop... (as usual the highest high/low of the last two closed candles):
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_190216_4.png Size: 14 KB
  • #29
  • Feb 19, 2016 4:09am Feb 19, 2016 4:09am
Thank you for your clear reply.

Wonder if it will last....have tried many versions of this before myself.....some good days....some bad. Over all not great.

Your money management with the multiple orders may help. Keep it up....
  • #30
  • Feb 19, 2016 4:28am Feb 19, 2016 4:28am
Hi Xaron,
Interesting approach, will follow...
  • #31
  • Feb 19, 2016 4:31am Feb 19, 2016 4:31am
Trailing the stop... Looks like it will be hit soon:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_190216_5.png Size: 14 KB


No change in GBP/JPY:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy_190216_3.png Size: 15 KB
  • #32
  • Feb 19, 2016 5:39am Feb 19, 2016 5:39am
Nice, Simple and Logical Xaron.
I might automate in the weekend if you don't mind.

All the best ,

Khalil
No guts, no glory
  • #33
  • Feb 19, 2016 6:40am Feb 19, 2016 6:40am
Quoting abokwaik
Nice, Simple and Logical Xaron. I might automate in the weekend if you don't mind. All the best , Khalil
Sure, please do it!
  • #34
  • Feb 19, 2016 6:43am Feb 19, 2016 6:43am
GBP/JPY missed the target quite just a bit. Let's see what happens next...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy_190216_4.png Size: 15 KB
  • #35
  • Feb 19, 2016 9:05am Feb 19, 2016 9:05am
Well that one took a while. GBP/JPY hit its target, remove all pending orders and trail the stop:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy_190216_5.png Size: 15 KB
  • #36
  • Feb 19, 2016 9:22am Feb 19, 2016 9:22am
Well done Xaron,
Seams to work well, I shall try it next week.
On the setup candle, how far above/below do you put your entry, is it like 1 pip + spread?
  • #37
  • Feb 19, 2016 9:38am Feb 19, 2016 9:38am
I use 2 Pips + Spread.
  • #38
  • Feb 19, 2016 9:47am Feb 19, 2016 9:47am
Great !

This one becomes more and more attractive !

I'm curious about the EA of this beautiful KISS strategy !
  • #39
  • Feb 19, 2016 10:26am Feb 19, 2016 10:26am
Quoting Xaron
I use 2 Pips + Spread.

thank you.
  • #40
  • Edited 7:14am Feb 21, 2016 6:55am | Edited 7:14am
I love breakout strategy i will try this out for sure
This is my favorite box indicator can come in handy for manual back testing and live trading
Just set your charts time in gmt in the settings and then put 8:00 - 8:25 GMT and it will add the high and low for you
attached
Attached File(s)
File Type: ex4 ant-GUBreakout_V.0.4.1 (4).ex4   13 KB | 547 downloads
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