kraven Posted July 20, 2010 Report Share Posted July 20, 2010 (edited) Interesting Pauli. not bad results gw999 cheers freddie One thing i will say is the importance of moving your SL to BE after 30pips. then you can move it up 10 every 10 you gain. e.g+30, sl BE; +40,sl +10; +50,sl +20. Also, i know this kind of goes against the 'set and forget' set-up, but you could use the wave indi as a 'get-out indi' e.g. if the price moves to the other side of the indi cash in. I've tried all sorts of systems with every indi going and most get in to slow or require masses of interpretation. I've tried a lot of asian box/uk breakout systems between 7-9 and in the end, at best, i breakeven after a few weeks. Try it from 10 ; ) also try 'easynewstrader' system. These are my 2 main strategies these days. Edited July 20, 2010 by kraven Quote Link to comment Share on other sites More sharing options...
Freddie Posted July 20, 2010 Report Share Posted July 20, 2010 I just quickly set my screen for £$ 1M, tested my indi through June and July. Lots of wins. Perhapsm I will get the figures for you when I have time. In the mean time: Forget '1min' try the "1 Indo Minute a day': Take an indi called 'ant_GUBreakout' it is on the net free. Set it for '10:00 to 10:59' GMT or similar. Trade that for a TP of 50. Freddie Quote Link to comment Share on other sites More sharing options...
Freddie Posted July 20, 2010 Report Share Posted July 20, 2010 Try it from 10 ; ) I could have written what you wrote, agree with it all except the 'news trader' - just a bit wary of that but maybe I will look now. Went quickly through the last few weeks. Here are the results: July: 20 Sell 100 ;19 S 59; 18 S 85 Retrace within that 30; 15 B 67 R 20; 14 B 35 R 20; 13 B113; 12 S 27 B 68; 9 B fail S 93; 8 B f S 48; 7 S f B 98; 6 S f B 22; 5 S 70; 2 B 42 then 57; 1 S f B 221. Very few retraces. If the price just pocked its nose out it was a trade. I have allowed a retrace of around 20 to not hit the stop loss.On 2nd the buy went to 42, came back down and went 7 pips passed its entry point then went back up eventually making 57. This was almost the only one that did anything like that. All the 'fails (f)' were less than 20, all the figures were straight to the number without any big retrace except the 2nd as stated. Hope this helps, any Qs just let me know. Kraven, you have really started something here. Solved a problem that I have been wrestling with for a long time. Freddy Quote Link to comment Share on other sites More sharing options...
pauli79 Posted July 20, 2010 Report Share Posted July 20, 2010 I just quickly set my screen for £$ 1M, tested my indi through June and July. Lots of wins. Perhapsm I will get the figures for you when I have time. In the mean time: Forget '1min' try the "1 Indo Minute a day': Take an indi called 'ant_GUBreakout' it is on the net free. Set it for '10:00 to 10:59' GMT or similar. Trade that for a TP of 50. Freddie This indi is also used with the D*U*B*A*I trader strategy which is also a breakout system.You can find it on here somewhere.However he has just updated to a new version and is being tested on C@shmaster site at present with good results so far.So Freddie you are saying set it for only 1 hour from 1000 to 1059 is that correct or am I misreading it. Quote Link to comment Share on other sites More sharing options...
pauli79 Posted July 20, 2010 Report Share Posted July 20, 2010 I could have written what you wrote, agree with it all except the 'news trader' - just a bit wary of that but maybe I will look now. Went quickly through the last few weeks. Here are the results: July: 20 Sell 100 ;19 S 59; 18 S 85 Retrace within that 30; 15 B 67 R 20; 14 B 35 R 20; 13 B113; 12 S 27 B 68; 9 B fail S 93; 8 B f S 48; 7 S f B 98; 6 S f B 22; 5 S 70; 2 B 42 then 57; 1 S f B 221. Very few retraces. If the price just pocked its nose out it was a trade. I have allowed a retrace of around 20 to not hit the stop loss.On 2nd the buy went to 42, came back down and went 7 pips passed its entry point then went back up eventually making 57. This was almost the only one that did anything like that. All the 'fails (f)' were less than 20, all the figures were straight to the number without any big retrace except the 2nd as stated. Hope this helps, any Qs just let me know. Kraven, you have really started something here. Solved a problem that I have been wrestling with for a long time. Freddy Hey Freddie...good results but a question.Did you let the trades run the full pips value.That is if we allow for a 10 am BO then surely the difference between the high and low will be much greater than if we chose 7 am or 8 am or whatever.Does that make sense...I haven't checked I'm just assuming. Quote Link to comment Share on other sites More sharing options...
kraven Posted July 20, 2010 Report Share Posted July 20, 2010 there may be a target difference.the 10am will have a greater target, if any. So you have a greater target with less false trades : ) Quote Link to comment Share on other sites More sharing options...
Freddie Posted July 20, 2010 Report Share Posted July 20, 2010 So Freddie you are saying set it for only 1 hour from 1000 to 1059 is that correct or am I misreading it. Sorry, typo! Half an hour 10:00 to 10:29 look at the pic. This is the 2nd with the run up tp 42 then back then 57. Kraven's 30 then 10 trailing would have got him 32. A 50 TP would succeed. Freddie http://i914.photobucket.com/albums/ac341/freddieforII/IIBO.jpg Quote Link to comment Share on other sites More sharing options...
Freddie Posted July 20, 2010 Report Share Posted July 20, 2010 (edited) Hey Freddie...good results but a question.Did you let the trades run the full pips value.That is if we allow for a 10 am BO then surely the difference between the high and low will be much greater than if we chose 7 am or 8 am or whatever.Does that make sense...I haven't checked I'm just assuming. ignore red figures on pic they were something else. Actually they were result of an earlier spread so 24 and 6 against the new buy 40 odd or 50 odd and no sell triggered. Hi Pauli, this was just a visual check. If you want I can put up other pictures for you. My big problem prior to using Kraven's 10am was that price would pop out say 10 pips then retrace and go out the other side making a loss. This would often happen for the buy and sell. With the new high/low range there were 14days so 28 possible trades. 7 failed to make 50, 11 won 7 were non starters - I seem to have lost some !! Too tired to continue, I am in Bulgaria at the moment, 2 hrs ahead of you in UK so half past midnight. Will sort it out tomorrow if internet is behaving. Freddie I choose half an hour to make a smaller spread Edited July 20, 2010 by Freddie Comment on pic Quote Link to comment Share on other sites More sharing options...
soundfx Posted July 20, 2010 Report Share Posted July 20, 2010 Hi Freddie, Your screenshot appears to be from GoTrader which runs at GMT+2. Hence your 10:00-10:29 range is 09:00-09:29 UK time which is 08:00-08:29 GMT (UK is in DST at GMT+1 for the summer and reverts to GMT in the winter). I think we need to be very clear on what times are being used for any breakout system as the differences can be crucial. I got the impression from your earlier posts that you were talking about times in GMT. Also worth noting is that some brokers stay on GMT+x all year round whereas some adjust for DST which could mean that we could end up using different breakout times in summer and winter if we don't adjust our system parameters accordingly. Quote Link to comment Share on other sites More sharing options...
kraven Posted July 20, 2010 Report Share Posted July 20, 2010 I'm talking 10pm to 10am GMT (london) on my Alpari UK it's 11pm-11am on charts (+1hr). i think freddie's discussing somthing a little different using a 1hr 'channel' Quote Link to comment Share on other sites More sharing options...
soundfx Posted July 20, 2010 Report Share Posted July 20, 2010 Hi Kraven, Lol - you say "10pm-10am GMT (london)" - however in London now the timezone is GMT+1 until the autumn when we put the clocks back and we end up on GMT again. You actually mean UK time - this is where GMT can be confusing. Freddies 1 hour "channel" seems to have become a 30 min channel now ;). It's an interesting concept though. At NFP time whilst price zooms up and down with the news, we can let the dust settle and then trade in the direction price moves when it breaks out of that range set by the news. I wonder if it's possible to ring-fence all more normal news movements in the same way and trade breakouts of those ? Worth checking out I reckon. Quote Link to comment Share on other sites More sharing options...
kraven Posted July 21, 2010 Report Share Posted July 21, 2010 sorry soundfx, i'm in the uk myself,but it tends to confuse a few people saying 'uk' time as most of clocks ask for 'london,lisbon' (GMT+1) time. Quote Link to comment Share on other sites More sharing options...
pauli79 Posted July 21, 2010 Report Share Posted July 21, 2010 (edited) At NFP time whilst price zooms up and down with the news, we can let the dust settle and then trade in the direction price moves when it breaks out of that range set by the news. I wonder if it's possible to ring-fence all more normal news movements in the same way and trade breakouts of those ? Worth checking out I reckon. (This should have been in quotes from soundfx) Hey this thread is getting really interesting...maybe we can start a news trading thread of some sort! Soundfx...check out the diamonds system at FPA forum.The system works by letting the news spike retrace by about 30% which it nearly always does and then enter in the direction of the movement again.Works well.If you cant find it I can post a transcript that I have somewhere. Regards timings on BOs its a nightmare getting the settings right.Different brokers,different times.As long as we stick to UK timings which I think is called BST at present and adjust accordingly. Edited July 21, 2010 by pauli79 Quote Link to comment Share on other sites More sharing options...
Freddie Posted July 21, 2010 Report Share Posted July 21, 2010 (edited) Good morning, my friends. A time check. 0911 here in Bulgaria, my GO chart reads 0811. I will post to see what time II puts on it - 0611, I have adjusted for delays in writing London is 2 hours earlier so 0711. Are we agreed? I will change my half hour range to suit UK time. I will also change the colours to make it more easily readable. Freddie Edited July 21, 2010 by Freddie time check Quote Link to comment Share on other sites More sharing options...
Freddie Posted July 21, 2010 Report Share Posted July 21, 2010 Regards timings on BOs its a nightmare getting the settings right.Different brokers,different times.As long as we stick to UK timings which I think is called BST at present and adjust accordingly. Quite right Pauli79, must say it confuses me in the extreme! OK I ran a time check. Real time I can manage, we are two hours in front of you, summer time included. My indi, has a GMT off-set or whatever it is called so I can adjust that. @ soundfx Yes I was so excited about Kraven's 'twist' to the BO that I forgot all about the time difference. So, I have FxPro on CET (Central european time) GMT +2 or is it +3; GO market ...GMT +2? London is GMT +1 isn't it? Help.... Freddie Quote Link to comment Share on other sites More sharing options...
kraven Posted July 21, 2010 Report Share Posted July 21, 2010 it 8.04 am here in uk now (GMT +1) kill 2 birds with 1 stone. go to daily fx calendar put your time in, make note of news, go to london, libon time (UK) see the difference. next main news GBP Bank of England Minutes (JUL) at 9:30, just in time to for market to alter price to steady for 10pm http://www.dailyfx.com/calendar/ i posted this earlier on page 3 if you want to trade news breaks as i do forget about box breakouts and try the 'easynewstrader' system. GU only, UK and US news only, 15min tf, wait until first 15min bar closes enter 2 pips above or below bar. don't enter if bar is 70pips or more. As always move SL'. enjoy Quote Link to comment Share on other sites More sharing options...
kraven Posted July 21, 2010 Report Share Posted July 21, 2010 (edited) hope no one still uses 7am start. if you used this at 7am this morning the massive 120pip spike at 7:45-8am would have wiped you out this morning. i won't play this today as that spike has caused a channel of 150pips. instead i'll ride the news. Edited July 21, 2010 by kraven Quote Link to comment Share on other sites More sharing options...
kraven Posted July 21, 2010 Report Share Posted July 21, 2010 well i hit lucky trading GU today. used 15min tf after BOE news. got in when price went back through 1.5268 (the close of 15min candle at 9:45). Should have bailed when it retrace but i decided to make my sl the top of the 9:30 candle. just got out for +50, at last a bit of luck : ) Quote Link to comment Share on other sites More sharing options...
Freddie Posted July 21, 2010 Report Share Posted July 21, 2010 Good for you. I have downloaded 'easy news' and will give it a try tomorrow. Thanks Quote Link to comment Share on other sites More sharing options...
pauli79 Posted July 21, 2010 Report Share Posted July 21, 2010 Ok I think Im buying into this 10 am BO now.I had a quick look back thro' the charts with these times and I think it could work. Can we recap on the settings? Is it 50 pip TP(or let it run) and move stop to BE after 30 pips.I would think use discretion if near major S and R levels too.I know it takes away from set and forget but if this works and we only make say average 25 pips a day, with good money management/compounding then Im happy.Any more thoughts guys? Quote Link to comment Share on other sites More sharing options...
kraven Posted July 21, 2010 Report Share Posted July 21, 2010 TP is set by the system. the moving of SL is something i do so i don't lose often. move sl to BE at 30 then +10 at 40, then +20 at 50 until you've hit the target set by the system. sometimes it only sets 15pips. Quote Link to comment Share on other sites More sharing options...
Freddie Posted July 21, 2010 Report Share Posted July 21, 2010 (edited) That spike at 0945 gave us a wider range today. The S/R Q is one for you, as you say "...if it works..." I am getting an Apari demo to put the indicator on. All GMT! Do you have the indi or want one? Ooops, just realised when I saw Kraven's post you are talking about the "1 min a day", I am talking about an indi that just gives a high and low for the times that you set. Didn't like the '1min' so don't use it!! Freddie Edited July 21, 2010 by Freddie Quote Link to comment Share on other sites More sharing options...
pauli79 Posted July 21, 2010 Report Share Posted July 21, 2010 TP is set by the system. the moving of SL is something i do so i don't lose often. move sl to BE at 30 then +10 at 40, then +20 at 50 until you've hit the target set by the system. sometimes it only sets 15pips. Cheers Kraven I thought of 50 maybe as just a target figure as the real target i suppose now will be much further away.Looking back again if we can stand the drawdown of some of the entries they nearly always make it even leaving them to run into the next day and adding to them.As in the 14 th to 15 th July for instance.A big draw down of about 80 pips after the trade triggered but then went on to reach target on the 15th along with the trade from the 15th.But would we stand such a big draw down? Quote Link to comment Share on other sites More sharing options...
pauli79 Posted July 21, 2010 Report Share Posted July 21, 2010 That spike at 0945 gave us a wider range today. The S/R Q is one for you, as you say "...if it works..." I am getting an Apari demo to put the indicator on. All GMT! Do you have the indi or want one? Ooops, just realised when I saw Kraven's post you are talking about the "1 min a day", I am talking about an indi that just gives a high and low for the times that you set. Didn't like the '1min' so don't use it!! Freddie Yes its getting a bit confusing with different things being mentioned.I have the indi you mentioned earlier in the thread but keep me informed of anything different or how you get on and settings etc Ditching the 1 min too?How could you....lol Quote Link to comment Share on other sites More sharing options...
kraven Posted July 21, 2010 Report Share Posted July 21, 2010 there's a lot of indi's out there that do what the '1minute' does, but at the end of the day it's the 10 till 10 setting that counts for me. Quote Link to comment Share on other sites More sharing options...
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