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Forex Breakout Direction Indicator & EA v5 (Set & Forget)

  • #201
  • Sep 18, 2016 12:30pm Sep 18, 2016 12:30pm
Please visit our Facebook page https://www.facebook.com/afk.forex/ to enter the current promotion to win Forex Breakout Direction Indicator & EA (or your money back if already purchased)
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  • #202
  • Sep 19, 2016 3:33am Sep 19, 2016 3:33am
Just been looking at other systems here on Forex Factory, and I've noticed a lot of Martingale systems.

You can tell which is a martingale system by, looking at a losing trade, then next trade will always have double the lot size.

Interest reading about Martingale Forex Systems -

Does Martingale Always Work?
In a pure Martingale system no complete sequence of trades ever loses. If the price moves against you, you simply double the size of the trade.
But such a system cant exist in the real world because it means having an unlimited money supply and an unlimited amount of time. Neither of which are achievable.
In a real trading system, you need to set a limit for the drawdown of the entire system. Once you pass your drawdown limit, the trade sequence is closed at a loss. The cycle then starts again.
When you restrict the ability to drawdown, youre departing from a true Martingale system. And in doing so youre using an approximation thats prone to catastrophic failure.

- taken from Investopedia

Forex Breakout Direction Indicator System is not a martingale system. We manage risk, we manage our account, we do not let the account manage us.

Classic martingale system account growth. Notice great growth, then 100% account lost

Forex Breakout Direction Indicator System is not a martingale system. We manage risk, we manage our account, we do not let the account manage us.
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  • #203
  • Sep 19, 2016 4:42am Sep 19, 2016 4:42am
Quoting krager
Update I'm removing CADCHF from the pairs I trade with this system.
Hello fellow FBDI traders

krager, does the Help file need updating to reflect this change?

Can you confirm now only 15 pairs to trade?

Thanks
It takes a lot for me to IGNORE you, but you can try.
  • #204
  • Sep 19, 2016 5:03am Sep 19, 2016 5:03am
Quoting Erebus
{quote} Hello fellow FBDI traders krager, does the Help file need updating to reflect this change? Can you confirm now only 15 pairs to trade? Thanks
Good spot. I will update the PDF and upload on post 1. I trade all pairs as advised in the PDF apart from CADCHF
  • #205
  • Sep 19, 2016 6:00am Sep 19, 2016 6:00am
Quoting krager
{quote} You only need to adjust the settings in BOLD as shown in the PDF on the EA. As long at the your using the setting "USE ADR to set TP & SL" as stated in the PDF, the Take Profit and Stop Loss values can be anything you want (just leave them) ADR value should = 20 ADR Range should = 66 Stop loss is set at 40% of the ADR Take Profit 1 is set at 40% of ADR Take Profit 2 is set at 60% of the ADR Take Profit 3 is set at 80% of the ADR Take Profit 4 is set at 20% of the ADR Also make sure your using the "Percent Balance" setting, so each order...
This could be solved by providing a "set" file for default settings which can be loaded by each user; probably still have to confirm the times however.

I saved a set for Buy and a set for Sell, but using a Buy or Sell template seems to fine also.

It takes a lot for me to IGNORE you, but you can try.
  • #206
  • Edited 6:19am Sep 19, 2016 6:07am | Edited 6:19am
How's this looking chief? Ready to rock & roll?

@ krager, why the EA says Range Box is too large but FBDI says Range Max: 111.4 and Range: 91.8 = Advice: Trade?



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It takes a lot for me to IGNORE you, but you can try.
  • #207
  • Edited 3:59pm Sep 19, 2016 3:19pm | Edited 3:59pm
Quoting Erebus
How's this looking chief? Ready to rock & roll? @ krager, why the EA says Range Box is too large but FBDI says Range Max: 111.4 and Range: 91.8 = Advice: Trade? {image}
Is your indicator and EA both set to 66%?

Also, if you notice on the chart, the indicator range is at 91.8 and max range is 111.4 which is pretty close, so the calculation of the EA must be slightly off, you could try and sync these by reducing the EA ADR Max range to 65, or 64 etc

This only rarely happens. Probably best to keep the settings like it is. Looking at the GBPAUD chart at the end of the today, the "no trade" EA would of kept you out of a none moving trade

Quoting Erebus
How's this looking chief? Ready to rock & roll? @ krager, why the EA says Range Box is too large but FBDI says Range Max: 111.4 and Range: 91.8 = Advice: Trade? {image}
Also if I remember right, the FDBI has it's own ADR 20 indicator built into the code. The Daily Range PeterE value is used to calulate the EA's ADR max range
  • #208
  • Sep 19, 2016 4:08pm Sep 19, 2016 4:08pm
19.06.2016

Today's results

Made an error my trading on JPY pairs, then closed those orders when I realised it was a Japanese Bank Holiday

Currently I still have USDCHF open, results so far is-

Pips banked = -105.9
Account growth = -1.84%

Regards
Craig
www.forexbreakout.co.uk
  • #209
  • Sep 20, 2016 5:07am Sep 20, 2016 5:07am
Tell me again how this was a bad trade

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It takes a lot for me to IGNORE you, but you can try.
  • #210
  • Sep 20, 2016 10:27am Sep 20, 2016 10:27am
Quoting Erebus
Tell me again how this was a bad trade {image}
That's forex for you. I trade the rules, only to take the trades where trend strength is greater then 90%, you can lower that % on your own system if you wish.
  • #211
  • Sep 20, 2016 12:21pm Sep 20, 2016 12:21pm
Today's results 20.09.16

USDCHF from yesterday hit stoploss, however a great day trading, with some great results

Pips banked = 809.8
Account growth = 7.06%

Month so far, September 2016
Pips banked = 1570.9
Account growth = 9.06%

Year to date results (system started 19.06.16)
Pips banked = 8702.4
Account growth = 59.2%

------------------------------------ ------------------------------------ ------------------------
41 Traders using the Forex Breakout Direction Indicator & EA
2 Traders currently testing via 14 day trial
1 Trader using the Trade Copier Signal Service USD$30 per month via http://afk.signalstart.com/login
16 Traders on the Whatsapp service
------------------------------------ ------------------------------------ --------------------------
www.forexbreakout.co.uk

Results can be check by the Myfxbook.com link

https://www.myfxbook.com/members/afk...-1h-sf/1676492
  • #212
  • Sep 20, 2016 4:34pm Sep 20, 2016 4:34pm
Quoting krager
{quote} That's forex for you. I trade the rules, only to take the trades where trend strength is greater then 90%, you can lower that % on your own system if you wish.
No problem, wasn't questioning the method or system; results speak for themselves.

Similar result for me today, as what you posted, see report below.

Did you get my email about the setting for trailing stop loss?

Thanks, John

Attached Image
It takes a lot for me to IGNORE you, but you can try.
  • #213
  • Sep 20, 2016 4:59pm Sep 20, 2016 4:59pm
Quoting Erebus
{quote} No problem, wasn't questioning the method or system; results speak for themselves. Similar result for me today, as what you posted, see report below. Did you get my email about the setting for trailing stop loss? Thanks, John {image}
Hi John. Yes I've replied back to your email.

Good results!

I like your chart. Is that a mt4 indicator or just something you have set up?
  • #214
  • Sep 21, 2016 12:25pm Sep 21, 2016 12:25pm
Today's results 21.09.16

Pips banked = 25.1
Account growth = 1.67%

------------------------------------ ------------------------------------ ------------------------
41 Traders using the Forex Breakout Direction Indicator & EA
3 Traders currently testing via 14 day trial
1 Trader using the Trade Copier Signal Service USD$30 per month via http://afk.signalstart.com/login
17 Traders on the Whatsapp service
------------------------------------ ------------------------------------ --------------------------
www.forexbreakout.co.uk

Results can be checked by the Myfxbook.com link

https://www.myfxbook.com/members/afk...-v5-1h/1704252
  • #215
  • Sep 21, 2016 2:49pm Sep 21, 2016 2:49pm
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I don't post very much on FF but I just wanted to say to everyone who maybe on the fence about purchasing Krager's system (indy + EA) or trade service, that I am very pleased with the results so far and am getting similar results to him on default settings. I can setup all of trades in about 1 minute before going to bed and wake up (usually) with some profit. I plan on going live as of October. Thank you Krager for the great system! I would gladly purchase another system or set files to trade the US or Asian session in the future. And Krager's earlier post about Martingale's is spot on. No Martingale system lasts. Ever. Some get away with it by regularly withdrawing profits but that is because they no it can/will blow up at some point. I want to be able to sleep at night and this system let's me do just that.
  • #216
  • Sep 21, 2016 3:09pm Sep 21, 2016 3:09pm
Quoting nirvanafx
I don't post very much on FF but I just wanted to say to everyone who maybe on the fence about purchasing Krager's system (indy + EA) or trade service, that I am very pleased with the results so far and am getting similar results to him on default settings. I can setup all of trades in about 1 minute before going to bed and wake up (usually) with some profit. I plan on going live as of October. Thank you Krager for the great system! I would gladly purchase another system or set files to trade the US or Asian session in the future. And Krager's earlier...
I've only used it for 2 days, and exited early because of FMOC, so not much experience yet, but so far I see no reason to doubt the results shown on the myfxbook statement.

The current 958 trades should be enough evidence for most.

IMHO I doubt whether you will see any Asian session trading, it is notorious for going one way and then reversing.

This method depends on breakout volatility in the direction of the trend, which is why it works.

I believe there are time settings that you could use to reset the EA for the USA session, check with krager.

Cheers, John
It takes a lot for me to IGNORE you, but you can try.
  • #217
  • Sep 21, 2016 3:19pm Sep 21, 2016 3:19pm
Quoting Erebus
{quote} I've only used it for 2 days, and exited early because of FMOC, so not much experience yet, but so far I see no reason to doubt the results shown on the myfxbook statement. The current 958 trades should be enough evidence for most. IMHO I doubt whether you will see any Asian session trading, it is notorious for going one way and then reversing. This method depends on breakout volatility in the direction of the trend, which is why it works. I believe there are time settings that you could use to reset the EA for the USA session, check with...
Thanks for the response; I know I can change the settings for the US Session however Krager has done the research for the Euro Session and I am not yet skilled enough to know what settings may be advantageous for the US Session and was hoping he may already be working on it. As for the Asian Session, you are right however I was thinking of being able to smaller tp/sl as a result. I have traded the Asian Session manually with some success; but generally you are correct mate.
  • #218
  • Sep 21, 2016 3:20pm Sep 21, 2016 3:20pm
Quoting nirvanafx
{image} I don't post very much on FF but I just wanted to say to everyone who maybe on the fence about purchasing Krager's system (indy + EA) or trade service, that I am very pleased with the results so far and am getting similar results to him on default settings. I can setup all of trades in about 1 minute before going to bed and wake up (usually) with some profit. I plan on going live as of October. Thank you Krager for the great system! I would gladly purchase another system or set files to trade the US or Asian session in the future. And Krager's...
Thanks for the kind words!

I'm currently testing a US and Asian session, having mixed results at the moment, I will update you if I think I can make the US or Asian system profitable.

Thanks again
Craig
Away From Keyboard Forex
  • #219
  • Edited 1:58pm Sep 22, 2016 1:20pm | Edited 1:58pm
Learn to trade

I have plans to start my own coaching sessions, next year, for people that wish to learn about the forex markets. To gather some insights, I attended a forex seminar today in Peterborough , hosted by "learn to trade dot com"

The plan was look at their subjects they cover, the course content, structure etc to get some of my own ideas.

What a waste of time!

The free forex seminar should of been called "A Three Hour Sales Pitch"

They explained that if your buy in the forex market, this is called going LONG and SHORT if your selling the currency pair.

The next two and half hours was spend telling you "to have the belief in yourself" to become a successful trader, then to spend £8430 on there course, to which they will hlep you trade the markets.

So what does this £8430 get you?
1. A two day session, in London at their offices (travel & accommodation NOT included in the price)
2. Software that gives you a button to BUY or SELL button on currency pairs that are currently green (but you need to pay 60 per month to access the software)
3. They tell you when "forex news" is due to be released (which can be found free here on Forex Factory)
4. They inform you, you can make 13,000 a month in profit (but you need a £25,000 account with their broker)

Not my idea of "learning to trade"

So my summary.

If you want to learn to trade the forex markets-
1. Get a good forex broker (I use xm.com)
2. Open a demo account first and play around for at least a year
3. Research and read about forex. Learn all about the Metatrader 4 standard indicators on investopdia.com
http://www.investopedia.com/
4. Surround yourself with other traders, talk to like minded people, on here at Forex Factory
5. Learn your own style

Then, if breakout trading is your type of trading, try my trial of the Forex Breakout Direction Indicator & EA at www.forexbreakout.co.uk
Join the free Whatsapp group. Get all the support and help you need to set up your indicator and MT4 platform

Only then, when you have had some success demo trading....start trading real money.

Regards
Craig
  • #220
  • Sep 22, 2016 1:26pm Sep 22, 2016 1:26pm
Today's results 22.09.16

Pips banked = -151.6
Account growth = 1.18%

------------------------------------ ------------------------------------ ------------------------
41 Traders using the Forex Breakout Direction Indicator & EA
3 Traders currently testing via 14 day trial
1 Trader using the Trade Copier Signal Service USD$30 per month via http://afk.signalstart.com/login
17 Traders on the Whatsapp service
------------------------------------ ------------------------------------ --------------------------
www.forexbreakout.co.uk

Results can be checked by the Myfxbook.com link

https://www.myfxbook.com/members/afk...-v5-1h/1704252
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