Win ratio

[Oskar]

Actually it does not look bad, took a snapshot, very calm, volume low, I think late breakout after 2AM EDT.

[Clint]

Hey, Oskar

I agree with your Sell Entry price of 1.6318

I have a different Buy Entry. Mine is 1.6443 to get above Thursday's NFP spike. On my chart, the spike was 1.6437 (Ask), so I added
6 pips to that.

My TP's are 10 pips, and my SL's are 30 pips.

This screen-shot shows Ask prices.

Mike, if you're online,

You may notice that it isn't even midnight EDT yet, and I already have Entry Orders placed. As you can see, the current price is just hanging out in the middle of the chart, so I'm confident that the High and Low have been established.

[xtensive]

Yep, playing along at home

I've got two orders pending @ long 1.6427 (6 pips higher than my 1900 GMT candle) and short @ 1.6318 6 pips below my 2300 GMT candle which is the low for the period from 1900-0400.

Mike

[Clint]

Mike,

I think you placed your Buy Entry order at a precarious place. It looks to me like the 06:05 GMT candle triggered your Buy order, and then stopped you out almost immediately (unless you had more than a 30-pip SL). If the 06:05 GMT candle didn't trigger your Buy, then the 06:25 GMT candle did, for sure.

If you haven't been stopped out, then you're negative 15 or 20 pips at this point. I hope you're demo trading.

The problem with your Buy Entry price, as I see it, is the 17:25 GMT candle YESTERDAY (Thursday), which is where all that resistance came from at 06:05 GMT this morning.

And immediately above that resistance level, there is another one: the 12:30 GMT candle YESTERDAY when the NFP report caused that price spike. I tried to point those levels out on the chart I posted, but I guess I didn't make them obvious enough.

These resistance levels are the reason I placed my Buy Entry order at 1.6443 --- to get above all that potential trouble.

It's tempting to just focus on the 10-hour period we have isolated, pick the High and pick the Low, and jump in. But, we can't ignore support and resistance (which always originate from somewhere BEFORE our 10-hour period).

One other point: it appears that you took your High and Low off the same chart of Bid prices. If that's the case, then you failed to take the spread into consideration. Always remember that we buy at the Ask price, and sell at the Bid price.

Let me know what's going on.

Clint

[SanMiguel]

Originally Posted by Oskar

SanMiguel,
I have a request, I like the work-hour timer but would like to know if it could be turned around. Meaning it would start filling from the left (~18:00) till it hits whatever (~04:00) time-frame somebody chooses.
Right now it waits till end time comes around and then shows it all.
I changed the fields with a minus in front of the numbers and let it start at 18:00, that works, but then it would not show the highest/lowest candle-number of that time-frame.
It would be already a good EA for Trevpicks system, which works really well so far.
Thanks, appreciate your time.
Happy 4th to all.

I'll have a look but I think it would need to redraw the rectangle every hour to do this so if I have some time.

[SanMiguel]

Originally Posted by Clint

No, I don't use a trailing stop.

Yes, I enter with a 30-pip SL, and a 10-pip TP.

I haven't taken a loss yet, but I have had the price move against me by about 10 pips on two occasions. When that has happened, I have had my finger on the button, ready to exit if it goes further against me. If and when a loss comes, I expect it will be less than 30 pips, because I just won't let it run that far.

As for your theoretical 80/20 win/loss ratio, I like my actual 100/0 results much better.

Clint

I'm sure you do. Can't argue with that

Originally Posted by Clint

(1) Breakouts have been occurring roughly between the time that Zurich opens and the time that London opens, five to six hours before New York opens. In other words, I think U.S. participation in the buying/selling pressure which causes these breakouts is minimal; and a U.S. holiday should have little to no effect on this strategy.

I am actually having a little more success using the start of the London session and breaking out from there. It's marginal though and the highs and lows may be very similar - need to have a bit more investigation into it. Any reason why London traders would jump on a move or high/low already made by Frankfurt?

[TREVPICK001]

Originally Posted by SanMiguel

I'm sure you do. Can't argue with that



I am actually having a little more success using the start of the London session and breaking out from there. It's marginal though and the highs and lows may be very similar - need to have a bit more investigation into it. Any reason why London traders would jump on a move or high/low already made by Frankfurt?

sorry to jump in on the conversation, i have actrully taken a day off today, i thought you all were to (just noticed all the coments in my in box), the reason i have taken today off is becasue the USA bank holiday, before i went live with this stratergy i never ever won on days were bank holidays were involved, therfor when i went live i decided not to trade these days.

good luck all

[Clint]

Well, so far this morning, the Europeans and the Brits have failed to push the GBP/USD very far in either direction. The price has been stuck between 1.6320 and 1.6440 for more than 24 hours. My pending orders are still pending, and I'm bored with them.

In less than 20 minutes, the Services PMI report will be released in Britain, and it appears that the market is just waiting to see what that report brings. I'm not a "news" trader, so I'm going to cancel my pending orders and call it a week.

The G/U Breakout Strategy, plus a little common sense, kept me out of the market this morning, and that's a good thing. A trading plan that keeps you from taking bad trades is a pretty damn good plan.

I hope you all have a marvelous weekend.

To my fellow countrymen: Fly the flag, watch some fireworks, and cherish your freedom.

Clint

[Oskar]

I looked and looked and looked (at the chart, not p#%n) and decided to go to bed and leave it all alone.
That was the right decision, and the 2AM I hit right too. I wish I would always be that good with my predictions. I guess it was more like a blind chicken finds a corn in between too.

SanMiguel
Thanks, could it be redrawn every 5, 15 or 30mins?
Appreciate it when you find the time.
Happy 4th to all

[SanMiguel]

+24 pips for me this week - I knew I should have sat today out with those S&R, reports, and NYSE being shut. Oh well