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London Open Breakout Strategy for GBPUSD 18 replies
GBPUSD Breakout Trading System 18 replies
15 min indicator on 5 min chart 3 replies
Backtesting w/ 1 min tick gap 0 replies
5 min forex with Oanda 11 replies
DislikedI suppose it really comes down to whether or not the market is trending or stuck in a range...As is evident from this week we were stuck in a range for most of it even though we managed to squeeze a few winners out of it..If we could determine early enough that cable is gonna range for a while it might be worth looking at GBP/JPY for those few days or for that week. It appears to be a pretty volatile pair and switching over to trade it at those times might be a worthwhile option. But I might be wrong..... I agree with Hove that the profitability...Ignored
DislikedCan you help me understand how we could be down after a 250 pip gain with a constant MM system please....Ignored
Disliked
Incidently
If we can accurately predict a range for cable, try this:
When our entry is triggered, enter in the opposite direction and tp at the other end of the box!
Many pips to be had............If we can predict the range!Ignored
DislikedThat is not correct according to my tests. I am forward testing this system, though only visually, and my results for the first 2 weeks of this year is approx. +250 pips. The first week was however much better than this one, but still, both were profitable.
How did you do your tests? What broker? How are the results for everyone else?
I am running a test between 7 and 8 GMT (the original being 7), and at 8 GMT I get results like yours. Did you use 7 or 8 GMT? For now, it looks like sticking to the system is the most profitable option (7 GMT),...Ignored
please correct me if i am doing something wrong
Here are my results for January 2010:
04/01: -23pip / +23pip / +23 pip -- Total: +23pip
05/01: +47 pip -- Total: 47 pip
06/01: +31pip / -31 pip -- Total: 0 pip
07/01: -41pip / -41pip / -41pip -- Total: -123 pip (the double up trade closed the next day)
08/01: +23 pip -- Total: +23 pip
11/01: +50pip /-50pip -- Total: 0 pip
12/01: -48 pip / +48pip / +48 pip -- Total: +48 pip
13/01: -27pip / +27pip / +27pip -- Total: 27pip
14/01: -36pip / -36pip / -36pip -- Total: -108 pip
15/01: 51pip -- Total: 51 pip
Total for now equals -12pip
so for the time when i posted earlier, we was -63 pip (sorry for my visual mistake folks), and now due to a good Friday, we are at -12pip.
hope the two coming weeks will be much better
Cheers
DislikedI suppose it really comes down to whether or not the market is trending or stuck in a range...As is evident from this week we were stuck in a range for most of it even though we managed to squeeze a few winners out of it..If we could determine early enough that cable is gonna range for a while it might be worth looking at GBP/JPY for those few days or for that week. It appears to be a pretty volatile pair and switching over to trade it at those times might be a worthwhile option. But I might be wrong........Ignored
DislikedThe box size changes, one day it may be 10 pips, the next 100, however the win / lose value remains the same - ie if you lose you lose 2.5%, if you win you win 2.5% regardless of the amount of pips traded.
Trade 1 +100 pips = +2.5%
2 -10 = -2.5%
3 - 15 = -2.5%
4 +50 + 2.5%
5 -30 = -2.5%
6 +80 = + 2.5%
7 -40 = - 2.5%
8 -12 = - 2.5%
9 + 140 = + 2.5%
10 - 13 = -2.5%
There you go, plus 250 pips, - 5%. You should be trading a % of your balance per trade.
MaxIgnored
DislikedHi Archie,
i am using Boston system (MT4); the MT4 time is the one of New York;
i am using the candles of 7:00, 7:05 and 7:10 GMT
i did a visual back test; added the spread for the long, doubled up if the first was a loser, closed the pending trades next day at 23:00; buffer equal 10 pip; SL equal square height + 10 pip buffer; TP equal Square height + 10 pip buffer;
as example for Friday:
[list][*]the box size is 41pip[*]Short trade: Entry at 1.6296, TP at 1.6245, SL at 1.6347[*]Long trade: Spread equal 3 pip: Entry at 1.6359, TP at 1.641,...Ignored
DislikedHi,
can you please elaborate?
do you mean that you are placing you order at 7:20 GMT?
using this method and i just did a visual check up, i couldn't see how it will be beneficial for us, since the 7:20 GMT candle rarely triggered a trade
thank youIgnored
DislikedHi,
I see that you have calculated your results almost as I have, but the total differ a lot, and I don't know why. This can be because of different brokers, quotes etc. I have been very cautious when prices only touched my TP/SL and always calculated with the worst outcome. Either way, here are my results for the first two weeks, in the same form as yours, not taking into account the amount risked, and doubling the pips when doubling the second order.
04/01: -33/+33/+33 -- Total: +33
05/01: +55,4 -- Total: +55,4
06/01: +40/-40 -- Total: 0
07/01:...Ignored
DislikedHi..
I'm not exactly sure what your question is as I never mentioned anything about placing a trade at 7.20am in my posts...However, you may have misunderstood what I said about entering when 5min candle closes. What I meant is that I only enter when a 5min candle closes outside my BO box. I also only activate my stoploss when the same thing occurs on the opposite side. Its surprising how many times that this will prevent us from getting into false breakouts and also from losing trades. I know we sacrafice a few pips but they are easily won back...Ignored
DislikedHi Archie,
i can see why:
on the 7th of Jan, you have considered the doubled trade as a winner while it is a loser one. the cable dropped down for max 36 pip down of the box and retracted back to close the doubled trade as a looser (it should have dropped for at least 41 pip to close it as a winner)
also on the 11th of Jan, you didn't enter the second trade which was -50 pip
cheersIgnored
DislikedHi guys! I'm back! I lost my pc, and more incredibly... I was "hacked". So I could not access my mail accounts or my FF account. So I decided to create a new account for safety reasons, l will ask the moderation team to "block my old user, now I'm Cain_!
Interesting to see so many people around here, I will catch up as soon as I can!
Happy pips!Ignored