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Simple Breakout System By Zach

  • #161
  • Jun 12, 2017 7:57am Jun 12, 2017 7:57am
Quoting ErollZach
{quote} breakout normally happen in few market zone.u can choose which zone that suit u most
Ok did not know I could adjust it to other market sessions good to know...I'll have to expirament with it at the start of the NY session that would work best for me..
  • #162
  • Jun 12, 2017 8:39am Jun 12, 2017 8:39am
Thank you ErollZach very much for the things you shared. I gained benefit by following your system.
  • #163
  • Jun 12, 2017 8:59am Jun 12, 2017 8:59am
Today WTI went by the rules, but the breakout was too fast, so it would have been not possible to enter manually.
But there was a bit profit even when entering after 161.8 level was reached...
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  • #164
  • Jun 12, 2017 9:50am Jun 12, 2017 9:50am
Quoting Akolva1
I say an EA would be best to draw the boxes, fibo points and place the pending orders. After the orders are triggered its up to you to manually manage them and determine rentries after false breakouts. I think this would be best for me cause it's hard to get up at 1-2 am to enter/manage trades as I live in the eastern us time zone..
Yes it could be an interesting use case.
I have drawn the boxes already, I will add the fibs, make the time zone configurable, and will publish a first version there if ErollZach allows me to do so (I don't want to disturb his thread).

I have a question: I enter the breakouts when the breakout candle is closed currently, it gives me a confirmation. But as I understand in post #1, I shouldn't wait for the candle's closing, right?
  • #165
  • Jun 12, 2017 11:28am Jun 12, 2017 11:28am
Nice profit for EURJPY today...
If you like my post throw me a Doge: D9eyP5TFYGDaN1JpjyU4jaU9ypg2wUk8Zp
  • #166
  • Jun 12, 2017 12:39pm Jun 12, 2017 12:39pm
Hi domba
Please guide how i can trade with you?
  • #167
  • Jun 12, 2017 1:17pm Jun 12, 2017 1:17pm
Quoting damiend
{quote} Yes it could be an interesting use case. I have drawn the boxes already, I will add the fibs, make the time zone configurable, and will publish a first version there if ErollZach allows me to do so (I don't want to disturb his thread). I have a question: I enter the breakouts when the breakout candle is closed currently, it gives me a confirmation. But as I understand in post #1, I shouldn't wait for the candle's closing, right?
  • #168
  • Jun 12, 2017 4:44pm Jun 12, 2017 4:44pm
Quoting Kezz23
Today WTI went by the rules, but the breakout was too fast, so it would have been not possible to enter manually. But there was a bit profit even when entering after 161.8 level was reached... {image}

I dont know what is the averages pips per day for WTI
anyway u can backtest and see how many 'instant breakout' for WTI(u try to find 100 setup)
like i mention before,a good trader place a pending order position,instead of instant/market execution position
maybe u can try place a pending stop order around 10 pips from both support and resistant
fibo 161.8 is the minimum TP,maximum TP can go to TP2(261.8)&TP3(423.6)
  • #169
  • Jun 12, 2017 4:51pm Jun 12, 2017 4:51pm
Quoting damiend
{quote} Yes it could be an interesting use case. I have drawn the boxes already, I will add the fibs, make the time zone configurable, and will publish a first version there if ErollZach allows me to do so (I don't want to disturb his thread). I have a question: I enter the breakouts when the breakout candle is closed currently, it gives me a confirmation. But as I understand in post #1, I shouldn't wait for the candle's closing, right?

wait for candle closed would be better
in post #1,csm is following the rules and i know,instant breakout will be happen
  • #170
  • Jun 12, 2017 8:38pm Jun 12, 2017 8:38pm
analysis pair for today(13/6/2017)

EURJPY
CHFJPY
  • #171
  • Jun 13, 2017 12:28am Jun 13, 2017 12:28am
Is it correct this way?

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If it's important to you, you'll find a way. If not, you'll find an excuse
  • #172
  • Jun 13, 2017 12:55am Jun 13, 2017 12:55am
Quoting Gemmafx
Is it correct this way? {image}
In my opinion You should measure this like on the pic below

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  • #173
  • Jun 13, 2017 1:01am Jun 13, 2017 1:01am
Quoting laksior
{quote} In my opinion You should measure this like on the pic below {image}
Thank you laksior

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If it's important to you, you'll find a way. If not, you'll find an excuse
  • #174
  • Jun 13, 2017 2:01am Jun 13, 2017 2:01am
Quoting ErollZach
analysis pair for today(13/6/2017) EURJPY CHFJPY
Long CHFJY
  • #175
  • Jun 13, 2017 2:19am Jun 13, 2017 2:19am
Quoting ErollZach
analysis pair for today(13/6/2017) EURJPY CHFJPY
Long EURJPY
  • #176
  • Jun 13, 2017 2:22am Jun 13, 2017 2:22am
Quoting ErollZach
{quote} Long EURJPY
I hope can hit TP2.nearest Resistant is at TP2
  • #177
  • Jun 13, 2017 2:43am Jun 13, 2017 2:43am
Quoting ErollZach
analysis pair for today(13/6/2017) EURJPY CHFJPY
Why do you choose exactly those 2 pairs of all?
Trade with 60
  • #178
  • Jun 13, 2017 2:44am Jun 13, 2017 2:44am
Quoting ErollZach
analysis pair for today(13/6/2017) EURJPY CHFJPY
not looking at other pairs today?
  • #179
  • Jun 13, 2017 2:45am Jun 13, 2017 2:45am
Quoting ErollZach
{quote} I hope can hit TP2.nearest Resistant is at TP2
can put a trailing stop or BE
  • #180
  • Jun 13, 2017 2:46am Jun 13, 2017 2:46am
Quoting kumetto
{quote} Why do you choose exactly those 2 pairs of all?
High impact news for today is GBP&USD.

i normally avoid pairs with high impact news
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