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Forex Breakout Direction Indicator

  • #221
  • Apr 13, 2016 3:49pm Apr 13, 2016 3:49pm
Quoting TheGreatMilenko
{quote} ​Would have been.
Lol! Great spot! One extra pip for you!

Many thanks

Craig
  • #222
  • Apr 13, 2016 4:09pm Apr 13, 2016 4:09pm
Quoting krager
{quote} Page, I understand what your trying to say. I hope you can judge me by what others are saying on this forum, my current customers. Also if you look at my website, the About Us page, I've always worked in a customer service environment... {image}
I'm not trying to say anything bad. Please be sure and I'm sure that your sentences are true. I'm just thinking, what happens after five years? Let's say i am happy with your system but one day boom. I'm try to find a reliable system for 2 years but i have nothing. I'm tired. Ok, nevermind.
  • #223
  • Apr 13, 2016 4:09pm Apr 13, 2016 4:09pm
Hi Craig

To understand better if range is within a narrow band and box appears below or above the moving averages, this generally constitutes for a trade, what else impacts the breakout strength or is that part of your formula?

Have you tested other times for breakouts ie U.S or Asian sessions, or if price is ranging anytime of the day ie a few hrs and you set your parameters for an hour or so..

Thanks
  • #224
  • Apr 13, 2016 4:16pm Apr 13, 2016 4:16pm
Quoting Paqe
{quote} I'm not trying to say anything bad. Please be sure and I'm sure that your sentences are true. I'm just thinking, what happens after five years? Let's say i am happy with your system but one day boom. I'm try to find a reliable system for 2 years but i have nothing. I'm tired. Ok, nevermind.
Page, if you have any doubts, then please don't buy this system.

Whatever you decided, you got to be happy!

All the best

Craig
  • #225
  • Apr 13, 2016 4:18pm Apr 13, 2016 4:18pm
Quoting light786
Hi Craig To understand better if range is within a narrow band and box appears below or above the moving averages, this generally constitutes for a trade, what else impacts the breakout strength or is that part of your formula? Have you tested other times for breakouts ie U.S or Asian sessions, or if price is ranging anytime of the day ie a few hrs and you set your parameters for an hour or so.. Thanks
Correct,
It' all part of the formula,
No I have not....no plans to as yet, maybe in a year or so
  • #226
  • Apr 14, 2016 12:42am Apr 14, 2016 12:42am
Morning,

Todays valid set ups are CADCHF 100% BUY AND CHFJPY 90% SELL

I am staying away from AUD pairs as they had major news last night, and GBP USD cross as they have major news out today. With both these pairs, i'm expecting all markets to have little movement. But i maybe wrong.

Risk is set at 0.75% for all normal order (giving total of 3% risk) and 3% for false breakout orders

Craig
  • #227
  • Apr 14, 2016 1:12am Apr 14, 2016 1:12am
Quoting krager
Morning, Todays valid set ups are CADCHF 100% BUY AND CHFJPY 90% SELL I am staying away from AUD pairs as they had major news last night, and GBP USD cross as they have major news out today. With both these pairs, i'm expecting all markets to have little movement. But i maybe wrong. Risk is set at 0.75% for all normal order (giving total of 3% risk) and 3% for false breakout orders Craig
Hi krager

Can you please share your EA settings? To see if it is the same as mine.
  • #228
  • Apr 14, 2016 2:44am Apr 14, 2016 2:44am
Quoting krager
Morning, Todays valid set ups are CADCHF 100% BUY AND CHFJPY 90% SELL I am staying away from AUD pairs as they had major news last night, and GBP USD cross as they have major news out today. With both these pairs, i'm expecting all markets to have little movement. But i maybe wrong. Risk is set at 0.75% for all normal order (giving total of 3% risk) and 3% for false breakout orders Craig
Thanks for the heads-up, Craig!

I have more of an "automated" (mechanical) attitude, so I am trading ALL pairs which match the RULES:

AUDCHF - 100% BUY
CADCHF - 100% BUY
CHFJPY - 90% SELL
EURAUD - 90% SELL
EURCHF - 70% BUY
EURUSD - 70% SELL
GBPAUD - 70% SELL
USDCAD - 90% BUY
USDCHF - 90% BUY
USDJPY - 100% BUY
  • #229
  • Apr 14, 2016 2:48am Apr 14, 2016 2:48am
Quoting MasterGuru
{quote} Thanks for the heads-up, Craig! I have more of an "automated" (mechanical) attitude, so I am trading ALL pairs which match the RULES: AUDCHF - 100% BUY CADCHF - 100% BUY CHFJPY - 90% SELL EURAUD - 90% SELL EURCHF - 70% BUY EURUSD - 70% SELL GBPAUD - 70% SELL GBPUSD - 100% SELL (for some reason EA has not opened the trade) USDCAD - 90% BUY USDCHF - 90% BUY USDJPY - 100% BUY
me too the same problem on gbpusd

know i put of gbpusd


chfjpy start sell at 90%
  • #230
  • Apr 14, 2016 3:03am Apr 14, 2016 3:03am
Quoting Juan007
{quote} me too the same problem on gbpusd know i put of gbpusd chfjpy start sell at 90%
I have deleted GBPUSD from my list as I have noticed that the RANGE was too large to trade it. So the EA was smarter than us... That is why I like bots...

And the other reason I like them (what I have already mentioned): There is nothing sweeter than cornerning the markets while sleeping...

P.S. Since today less trades were activated than yesterday, I have set Balance and Equity TP to 2%.
  • #231
  • Apr 14, 2016 3:11am Apr 14, 2016 3:11am
Morning MasterGuru,

Do you have an EA that closes all trades once we get to a certain % profit per day, think this may help me due to work commitments during the day.. would be appreciated.

Thanks
  • #232
  • Apr 14, 2016 3:17am Apr 14, 2016 3:17am
Quoting Trade-Man
Morning MasterGuru, Do you have an EA that closes all trades once we get to a certain % profit per day, think this may help me due to work commitments during the day.. would be appreciated. Thanks
I wish I had... I have uploaded "Equity Sentry EA" which is close to the purpose, BUT (as I have already mentioned yesterday in Post 188):

The "Equity Sentry EA" cannot track net daily profits. It can track Equity Gain and Balance Gain SEPARATELY, but not the combination of these two (which would be the net daily profit). So it is not perfect for the purpose, but the best available.

Personally I set BOTH "EquityProfitMoney" and "CumulativeProfitMoney" to the same $ value. IF ANY of these two is reached, then the EA closes all open trades and stops further trades by disabling ALL EAs.
  • #233
  • Apr 14, 2016 3:22am Apr 14, 2016 3:22am
Quoting MasterGuru
{quote} I wish I had... I have uploaded "Equity Sentry EA" which is close to the purpose, BUT (as I have already mentioned yesterday in Post 188): The "Equity Sentry EA" cannot track net daily profits. It can track Equity Gain and Balance Gain SEPARATELY, but not the combination of these two (which would be the net daily profit). So it is not perfect for the purpose, but the best available. Personally I set BOTH "EquityProfitMoney" and "CumulativeProfitMoney" to the same $ value. IF ANY of these two is reached, then the EA closes all open trades...
Ok thanks MasterGuru will keep looking if i find anything i will let you know
  • #234
  • Apr 14, 2016 7:26am Apr 14, 2016 7:26am
Quoting MasterGuru
{quote} Thanks for the heads-up, Craig! I have more of an "automated" (mechanical) attitude, so I am trading ALL pairs which match the RULES: AUDCHF - 100% BUY CADCHF - 100% BUY CHFJPY - 90% SELL EURAUD - 90% SELL EURCHF - 70% BUY EURUSD - 70% SELL GBPAUD - 70% SELL USDCAD - 90% BUY USDCHF - 90% BUY USDJPY - 100% BUY
Give us a update later on how you get on with this method. Are you using set & forget?
  • #235
  • Apr 14, 2016 7:46am Apr 14, 2016 7:46am
Hi

I have two questions regarding the manual trading:

1. How long should we keep pending order that is not triggered?
2. Is there a cut off time to close all open position? Or do we keep the it open until either TP or SL is hit?


Thank you very much.
  • #236
  • Apr 14, 2016 8:02am Apr 14, 2016 8:02am
Quoting krager
{quote} Give us a update later on how you get on with this method. Are you using set & forget?
@Craig

Since you asked: Today did not go that well. EURUSD and USDCHF have both got stopped out after NY open at -2.4% each.

Shortly before NY open floating losses totaled only about -0.8% (i.e. profits have never reached +2% since London open). Shortly after NY open closed and floating losses are about -5.6% now with open AUDCHF and CHFJPY positions.

Today's events suggest that probably all trades should be closed out by NY Open, as if they could not make profit for 5 hours after London Open, the chances are little after that.
Attached Image
  • #237
  • Apr 14, 2016 8:23am Apr 14, 2016 8:23am
UPDATE:

Floating profit has reached +3% gain by AUDCHF and CHFJPY and a "False Breakout" EURCHF trades, so "Equity Sentry" has closed out all my open trades at +3% floting profit.

So today has resulted in (-2.4% x 2) + 3% = -1.8%. Not that bad for a "bad day"...
  • #238
  • Apr 14, 2016 9:43am Apr 14, 2016 9:43am
Quoting nbelchior
{quote} Hi krager Can you please share your EA settings? To see if it is the same as mine.
The EA settings I use are on the PDF document I've sent you
  • #239
  • Apr 14, 2016 9:52am Apr 14, 2016 9:52am
Quoting lisyah
Hi I have two questions regarding the manual trading: 1. How long should we keep pending order that is not triggered? 2. Is there a cut off time to close all open position? Or do we keep the it open until either TP or SL is hit? Thank you very much.
Hi,

Please find answer below

1. How long should we keep pending order that is not triggered?
If your on the EA this will auto delete pending orders if the other one is trigger. If not you will need to do this manually. For example, if you have buy stop (x4) set above the range and buy limit set (x1 false breakout) below the range, if the buy limit triggers first, you should delete / cancel the buy stops or vice versa

2. Is there a cut off time to close all open position? Or do we keep the it open until either TP or SL is hit?

Three options really
1. If trades stop loss is set to breakeven by trailing stop, then leave open
2. Close all orders if you set yourself a daily account growth target and this is reached
3. Just set and forget
  • #240
  • Edited 11:42am Apr 14, 2016 9:59am | Edited 11:42am
My results for today 57.8 pips banked, 1.08% account growth

Update
1.If your indicator is not showing the correct BUY / SELL strength (i.e always 0%) either check that you have installed the ADX indicator correctly, without re-naming it
2. I fixed for ADX values where the range box over laps (i.e starts yesterday and ends today) is being worked on, I have a trader on here who will be testing this for me over the next few days
3. Full EA auto mode, now in development. This maybe some time yet (3 months +), but I'm in conversation with my tech team on what this looks like and how we work around the news events
4. Forex Breakout Direction Indicator Set & Forget Myfxbook account being set up to show a true reults for the S&F system
5. Forex Breakout Direction Indicator Oil / Gold / Silver Trader in development

Regards

Craig
Away From Keyboard Forex
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