Win ratio

[TalonD]

I'm not trading it really but still keeping the concept in mind while trying other things.

I wonder is the originator Trevpic still trading it? what kind of results lately?

[kaalilaatikko]

Today we had a nice breakout - but unfortunately it was a bit too short-lived. 20-48 was a loss, but I got out a bit above BE after manually trailing the stop by 30 pips. I think that this is a reasonable addition to the system, although I have no backtesting data to back me up. If the price retraces by 30 pips, the breakout is probably already broken and the price could well retrace back to the initial limit, like today. I'm intending to use this rule with this reasoning whenever I can, even when the stop is still below BE. Any comments?

[SanMiguel]

Originally Posted by kaalilaatikko

Today we had a nice breakout - but unfortunately it was a bit too short-lived. 20-48 was a loss, but I got out a bit above BE after manually trailing the stop by 30 pips. I think that this is a reasonable addition to the system, although I have no backtesting data to back me up. If the price retraces by 30 pips, the breakout is probably already broken and the price could well retrace back to the initial limit, like today. I'm intending to use this rule with this reasoning whenever I can, even when the stop is still below BE. Any comments?

I did try a move to breakeven after 30pips some time ago and it proved less profitable on that test but I'm afraid we don't really have the data to back that up as it might have only been a few trades that broke out, returned, and then probably bounced again...most likely around a SR line. However, emotionally it was far easier to cope with being stopped out at breakeven than taking a loss. As usualy, the test doesn't account for a re-entry, which you could take if momentum was good and you were managing the trade manually so it seems a good option.

[Clint]

If ... you're NOT in Europe or the U.K., and you're trading any of the following strategies ----

• London Breakout Strategy (the Win Ratio thread on the Newbie Island forum)
  
• London Breakout-1 (on the Free Forex Trading Systems forum)
  
• Sunday Breakout Strategy (on the Free Forex Trading Systems forum)
  
• or any other GBP, EUR or CHF strategy which is sensitive to time-of-day in Europe

Then ... you need to take note of the weird time-changes occurring THIS WEEK ONLY:

• the market will open in Europe, and in London, one hour later than usual
  
• news releases in Europe and London will occur one hour later than usual
  
• the London Breakout Strategy overnight period will occur one hour later than usual
  
• the London Breakout-1 five-candle period will occur one hour later than usual
  
• the key 8pm GMT Sunday candle on Phil's Sunday Breakout Strategy will be one hour out-of-phase
  with the London and European markets; there is no way to compensate for this.

For my time zone (EDT in the eastern U.S.), the times for this week are:

• Zurich open 3am
  
• London open 4am
  
• GBP news releases (typically) 5:30am
  
• London Breakout Strategy overnight period 3pm - 1am
  
• London Breakout-1 five candle period 1am - 6am

I wrote these on a Post-It Note, and stuck it on my monitor.

For other time zones, I'll leave it to you to make the appropriate adjustments.

Starting next Sunday, we will be back to "normal" times.

Clint

[TalonD]

Hi Clint, thanks ! Glad you are good at keeping track of time changes. That always gets me confused. I know that my EDT is 4hours from GMT, the rest I have to think about.

You're EDT too? What state? Georgia here.

[Clint]

Now that the dust has settled on time changes for Fall 2009, I thought it would be useful to make a table of the key time periods used in the various "breakout" strategies, converted to local times in 12 time zones. So, here it is:

Notes:

1. These 3 strategies were originally created for trading the GBP/USD pair at specific times in the London trading day.
These times are highlighted in the table, above.

2. Phil's Sunday Breakout Strategy is based on the 20:00 GMT candle on the 4-hour GBP/USD chart. This strategy is
explained here: Sunday Breakout Strategy

3. The London Breakout Strategy is based on a 10-hour "overnight" period, 7pm-5am London time. This strategy is
explained here: Win ratio

4. The London Breakout-1 strategy is based on a 5-candle period on the 1-hour GBP/USD chart, 5am-10am London time.
This strategy is explained here: London Breakout 1

[Firstfx]

Great stuff Clint.

Wondering if anyone is still doing the London Breakout strategy? If yes how is it going? If no, than can San Miguel run some tests on the last two months or so to see how things are going?

[TalonD]

I haven't traded it in a while, been concentrating on bollinger bands and MAs

[SanMiguel]

Originally Posted by Firstfx

Great stuff Clint.

Wondering if anyone is still doing the London Breakout strategy? If yes how is it going? If no, than can San Miguel run some tests on the last two months or so to see how things are going?

I am not as I find London Breakout 1 far more profitable.
However, I have found an interesting twist on this method called the "5 min of fury method", which is posted here:
Furious Angel's "5 Minutes of Fury" Method

Watch the video on post 1 and read the PDF on page 3.

I can run some tests for you later today/tomorrow on the original.

[TalonD]

Anyone still using this? I've been looking at the London breakout 1, So looks like a hybrid of the two may work well.

use 5:00 to 7:00 London time as the range. Set your horizontal lines at the highest high and lowest low of that range. Then set your pending orders just above and below those lines. If you live in a time zone where you aren't asleep that time of day, it works better if you monitor instead of set it and forget it.