kraven Posted July 25, 2010 Report Share Posted July 25, 2010 Pauli, when the 1hr, 6 til 7 candle closes mark high and low. Go to 5min chart and wait till a 5min candle CLOSES above/below line. So your waiting for a 5min candle between 7-8 (the frankfurt open, just before uk open) iwjw, when i post anything on here it will be the time in the UK (GMT?) (all this GMT, London, broker +2 time is confusing) Quote Link to comment Share on other sites More sharing options...
iwjw Posted July 25, 2010 Report Share Posted July 25, 2010 ...iwjw, when i post anything on here it will be the time in the UK (GMT?) (all this GMT, London, broker +2 time is confusing) That's what I thought, thanks UK means GMT during wintertime and GMT+1 during DST Quote Link to comment Share on other sites More sharing options...
Freddie Posted July 25, 2010 Author Report Share Posted July 25, 2010 ... 8:30 GMT during DST ... Iwjw we don't use GMT during the summer, it is BST or DST ( I was informed earlier). That may sound petty but I think that anything other than London time causes confusion. Trading starts/stops at whatever London time and it is always the same in London. eg 0800 is eight o'clock through the year, we change the clocks! I do hate this time discussion! It is on almost every thread. Yes, your last post has it exact!! Freddie Quote Link to comment Share on other sites More sharing options...
freddy Posted July 25, 2010 Report Share Posted July 25, 2010 http://forex.timezoneconverter.com/ hope it helps. :) Quote Link to comment Share on other sites More sharing options...
Freddie Posted July 25, 2010 Author Report Share Posted July 25, 2010 http://forex.timezoneconverter.com/ hope it helps. :) Helps me freddy, thanks, Freddie Quote Link to comment Share on other sites More sharing options...
Freddie Posted July 25, 2010 Author Report Share Posted July 25, 2010 I am getting my weekly BO ready, have an Alpari demo and working out the trades as we speak. Also downloaded another weekly BO type. This one is based on the first 14 hours of the week's open. Freddie Quote Link to comment Share on other sites More sharing options...
kraven Posted July 25, 2010 Report Share Posted July 25, 2010 (edited) as you've probably guested i'm a bit of a breakout fan. I've used many TA systems in the past only to find when i get a signal to get in the rallies all but over or i've been given a false signal. i've been using UK and US open breakouts for a long time. however i have switched to news breakouts over the last few months (basicaly most news is 9:30 and 1:30 in anyway so not much point in using both open and news breakouts). One of the reasons i trade exclusively with these now is the entry is clear (both price and time wise), exits too if you set them and don't be gready are also clear. It also makes sense to me, if news is good - price moves up, if news is bad - price moves down (nothing to do with RSI or EMA's crossing). lets face it support and resistance is caused by buyer demand....what causes buyer demand..news...so news is the main cause of S/R. I've looked at a number of breakouts systems over the last 12months incl. 5 day breakout, 1hr breakout etc and am currently looking into a couple of others that can be set and forget one's.. and am always interested in hearing about more Freddie so keep us informed of what you think. Time to look at whats been said about the bank tests on Friday as this will determine tomorrows direction me thinks Edited July 25, 2010 by kraven Quote Link to comment Share on other sites More sharing options...
Freddie Posted July 27, 2010 Author Report Share Posted July 27, 2010 Good morning all. Sorry couldn’t talk to you yesterday, internet was active when I had nothing to say, ie before our breakouts, and inactive when I wanted to post. Only just seen the above, copied and will read at my leisure - ie in case the internet lets me down. Having difficulty finding the mod so no action on name change. I have the pic of yesterdays BOs but need to get it through Photobucket. Do that next ... Freddie Quote Link to comment Share on other sites More sharing options...
Freddie Posted July 27, 2010 Author Report Share Posted July 27, 2010 Like the thinking Kraven. I have some more BOs and will be preparing them for publication here. Have some EAs but I know nothing about them - how or what they do. Also have some news traders. One is a set and forget. Maybe I need to send them to you for consideration. BTW, found your pic in my junk/spam box. Since you have been doing it yourself with the pics... http://i914.photobucket.com/albums/ac341/freddieforII/2606c.jpg Freddie Quote Link to comment Share on other sites More sharing options...
Freddie Posted July 27, 2010 Author Report Share Posted July 27, 2010 A good day for morning BOs see below http://i914.photobucket.com/albums/ac341/freddieforII/2706c.jpg Freddie Need to write more - message too short otherwise. Quote Link to comment Share on other sites More sharing options...
Freddie Posted July 27, 2010 Author Report Share Posted July 27, 2010 I only managed to mark 4 pair for the weekly but $Y, £$ and$Chfare all doing well. I will look at this for a couple of weeks and maybe I can trade this live. Lot of time over the week-end to get online and place the trade. Freddie Quote Link to comment Share on other sites More sharing options...
kraven Posted July 27, 2010 Report Share Posted July 27, 2010 Freddie i'm a bit lost with your last pic, which box is which time? what does the S and B stand for? it looks like your only using 15mins for a breakout box, far too tight a range. today i used the high from 7 till 10. made my 30pips. Also made 30 pips after US consumer conf. data candle (just). 'Also have some news traders. One is a set and forget. Maybe I need to send them to you for consideration.' If it's the one when your looking into setting a buy and a sell order so many pips around news time i'd forget it. sometimes a big spike can take both orders out. if it's not this one then let me know and i'll take a look Quote Link to comment Share on other sites More sharing options...
Freddie Posted July 27, 2010 Author Report Share Posted July 27, 2010 Freddie i'm a bit lost with your last pic, which box is which time? what does the S and B stand for? it looks like your only using 15mins for a breakout box, far too tight a range. S & B are sell and buy; They are all half hour boxes, I thought that I had said that in the second posting. I had come to the conclusion some time back that a small box gives a better chance of winning. You made the suggestion for the 10-1030 box or rather after 10. I got a little confused when I realised that you used the '1 min a day' and used a long, overnight range. News traders: it is actually called 'set & forget', needs two news. It is US based, she sets her stop trades, goes to sleep to wake to a nice profit. The other one involves three attacks at the market. Until you came onto the scene with the 'easyNR' I had not considered them. Not really read them. Freddie Quote Link to comment Share on other sites More sharing options...
Freddie Posted July 28, 2010 Author Report Share Posted July 28, 2010 (edited) Kraven's 0600-0700 Breakout Please check that I have it all set up right!! Cannot get 5min and hour on same chart so did it all in 5min. http://i914.photobucket.com/albums/ac341/freddieforII/0600BO.jpg Did well today!! Edited July 28, 2010 by Freddie Quote Link to comment Share on other sites More sharing options...
Freddie Posted July 28, 2010 Author Report Share Posted July 28, 2010 ...and here is today's one... http://i914.photobucket.com/albums/ac341/freddieforII/28067BO.jpg quite a money maker... well, if it lasts! Took the pic on 15 min chart the five min looks much the same though Freddie Quote Link to comment Share on other sites More sharing options...
john225 Posted July 28, 2010 Report Share Posted July 28, 2010 Which pair are you using on the two pictures Freedie? Quote Link to comment Share on other sites More sharing options...
Freddie Posted July 28, 2010 Author Report Share Posted July 28, 2010 Which pair are you using on the two pictures Freedie? Hi John, I only use £$. When I sort out a profile for it I will look at a few more. Freddie Quote Link to comment Share on other sites More sharing options...
kraven Posted July 29, 2010 Report Share Posted July 29, 2010 (edited) Freddie I'm unwell at the moment and am only spending minutes on the pc. I'm confused myself when you said in post 63 'You made the suggestion for the 10-1030 box or rather after 10. I got a little confused when I realised that you used the '1 min a day' and used a long, overnight range' can you tell me what post i did that your talking about and maybe i can better explain what i ment. yesterdays US durable goods at 1:30 was a perfect play in regards to the 15min news candle. buy was entered at 1.5591 and exited 4 bars later for +32. p.s. nice pic in post 64, nicely explained. Edited July 29, 2010 by kraven Quote Link to comment Share on other sites More sharing options...
kraven Posted July 29, 2010 Report Share Posted July 29, 2010 didn't trade this mornings consumer credit news, looking back i'd probably be BE or down 10 if i had. traded US jobless this afternoon, bought at .5623 (tg 30 sl -10) letting it run itself as i'm off back to bed. Quote Link to comment Share on other sites More sharing options...
Freddie Posted July 29, 2010 Author Report Share Posted July 29, 2010 ... letting it run itself as i'm off back to bed. Hope that you are well soon. I will look through the thread and see what I can find re: ranges. Quote Link to comment Share on other sites More sharing options...
kraven Posted July 29, 2010 Report Share Posted July 29, 2010 just checked TG hit at 14:45 for +30 : ) Quote Link to comment Share on other sites More sharing options...
kraven Posted July 30, 2010 Report Share Posted July 30, 2010 (edited) ok all, still feeling poorly so haven't look into news etc. however i know no UK data this morning. Because of this i'ved used the 10am breakout box (as i've explained before). This morning this would have caused me to buy at 1.5657 and sell at 1.5595. Sell has been activated at 10:45am. SL was at the top of the 15min candle that caused entry 1.5612 (-16). Don't know why such a big quick drop? haven't look into it, but this is again another example of why i tend to use 10am instead of 7,8 or 9am as there's always EU news around these times, yes you miss the inital jump, but you also tend to miss the faulse signals. *Anyway as i'm typing i've exited for +35 just been looking into making the box from 7am to 10am (basicaly ignoring asian session). hey, maybe i should patent this and sell it for $100's, call it the early break-out box? ; ) Edited July 30, 2010 by kraven Quote Link to comment Share on other sites More sharing options...
kraven Posted July 30, 2010 Report Share Posted July 30, 2010 been sitting here waiting for the US GDP & PC data, I noticed that 30secs before the close of the 1:15pm the price dropped 21+pips normaly this means the news has leaked or people are just trying to get the jump. In the past i would have seen this and jumped in in the direction of the fall. but i've learned it pays to be patient. The numbers are worse then expected and yet the price has reversed (if i'd jumped in i'd be at a loss already, infact the size of reversal would have caused me to jump ship) right now the 15min news candle has closed and we had a move of around 42pips, it's big but still tradable. I'm aprehensive as it's friday afternoon so i'll give it 3 candles to breakout. i'd feel happier if it went up as the news was poor and the overall daily trend is up. Quote Link to comment Share on other sites More sharing options...
kraven Posted July 30, 2010 Report Share Posted July 30, 2010 (edited) ok i watched the next 3 candles which were all down and thought if it breaks downwards I'm not going in for reasons above. so i set a buy order entry at 1.619 with a 20pip SL and no target. i've just opened my metatrader expecting either to be up about +20-30 or stopped-out so i'm well pleased to be exiting 80pips up (could have been close to 100 at one point). I only did a small wager, but still it's nice when things go right. As i said 'news moves the markets' and if the news is clear so should the markets move. Edited July 31, 2010 by kraven Quote Link to comment Share on other sites More sharing options...
Freddie Posted July 31, 2010 Author Report Share Posted July 31, 2010 Hi Kraven, been a bit off colour myself. Spent most of yesterday asleep. Haven't had the energy to concentrate on much today. See what I can do tomorrow. BTW, the FX super sensational or whatever it is called is not much good I think although someone has back tested it a bit so... It is a 4 to 6 Range, UK time. Freddie Quote Link to comment Share on other sites More sharing options...
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