1400-1600 GMT USD Breakout Strategy - page 6
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bro dznmrd,
yesterday result not so good lah. got stop out after the 1600 (1300 for ibfx) candle. how to prevent the whipsaw.
thre is no perfect system dude, you cannot alway win in this market
with the correct MM you will be survive, i think this is a good one
You are right bro, you can't win them all. Money management is very important, more so for a newbie like me with limited capital. So many system in this forum to choose from, can't afford to test all. But this system suits my timing after my day job.
Happy pipping everyone.
Cheers
Selamat Berpuasa
You can trade JAP...
Someone messaged me about which pairs these work on and if they would work on London or Tokyo sessions, My suggestion is EURUSD, GBPUSD, AUDUSD, NZDUSD, USDCHF, USDCAD are good pairs to run this strategy & USDJPY doesnt work great so do not use that pair.
I have found that if you perform an inversion rather than a breakout, on this pair, it works.
Use buy and sell limits rather than buy and sell stops, Set the sell limit for the highest candle in the 9 bar window, with a stop loss for -30 pips, and then use a take profit of 20-25 pips.
Set the sell limit for the lowest candle in the 9 bar window, with a stop loss for +30 pips, and then use a take profit of 20-25 pips.
I have been trading this method on my demo account since yesterday morning and I am up $700 so far. I have performed manual back testing since this thread opened and this method appears to hold water, with few losses. You just need to remember to cancel the opposite trade to the one that opens first, as that appears to lose more. It's a pity MT4 does not use OCO orders specifically for this type of trading method.
Dznmrd - any news on the EA from your friend yet? If he/she can start me off in the right direction, I think I could I polish this one.
Lim
You are right bro, you can't win them all. Money management is very important, more so for a newbie like me with limited capital. So many system in this forum to choose from, can't afford to test all. But this system suits my timing after my day job.
Happy pipping everyone.
Cheers
Selamat BerpuasaA good idea would be to target just 15 pips, and work the strategy on 6pairs like EURUSD, GBPUSD, AUDUSD, NZDUSD, USDCHF, USDCAD,
Today i make like 15+15+15+15+15+15=90 pips in just a 30 mins of trade time !!
Theres also someone whos working this on dow jones index and made 200+ pips today
A good idea would be to target just 15 pips, and work the strategy on 6pairs like EURUSD, GBPUSD, AUDUSD, NZDUSD, USDCHF, USDCAD,
Today i make like 15+15+15+15+15+15=90 pips in just a 30 mins of trade time !!
Theres also someone whos working this on dow jones index and made 200+ pips todayThank you for this great system. Do you put the buystop and sellstop at exactly the high and low or do you add the spread?
Also what stop loss would you use if targeting only 15 pips?
Thank you for this great system. Do you put the buystop and sellstop at exactly the high and low or do you add the spread? Also what stop loss would you use if targeting only 15 pips?
Depends on you. usually adding a spread and plus paying a spread is like paying double spreads, but if you want the bid price exactly at the high/low price.
As for me i dont add spreads, i make sure the stop entry's happen when the spread price comes to the high or low.
If you want 100% guaranteed targets, try 10pips,
If you want 75% guaranteed targets, try 15pips,
If you want 50% guarantee target, try 30-50pips
All this only if the price breakout,
Also remember, its not very profitable if the distance of high-low is more than 50-60 pips
Add pip counter to indicator
Could you add a counter to your indicator
how many pips hi to low for the given time
This would be good for looking back at what range will be more profit
already stated somewhere 50-60 pip range is not good
i had upload the fixed indic
download here..
https://c.mql5.com/forextsd/forum/164/ant-gu_breakout.ex4
c uthank you
Thank you very much,
hi, here modified indicator, hope this can help. thx
hi, here modified indicator, hope this can help. thx
Is there a way you can add certain pips to the High/Lows on your indicator? (offset 5 pips for example)
Visually i love your indicator