Win ratio

[SanMiguel]

Originally Posted by SanMiguel

Possibly or maybe something wrong with the strategy tester but it is entering trades in exactly the right places so seems strange. I'll look over it.

Aha, it's the timing thing again. What times do you use, I've always been at odds with this because wasn't sure whether to include candles or not. Seems most profitable is entering trades around 6 euro time, which is 4GMT. ie entered at 6GMT so the high and low of the 3amGMT candle (on the 1hr chart) are counted but not the 4am cande. oops

[TREVPICK001]

Originally Posted by SanMiguel

Aha, it's the timing thing again. What times do you use, I've always been at odds with this because wasn't sure whether to include candles or not. Seems most profitable is entering trades around 7 euro time, which is 5GMT. ie entered at 7GMT so the high and low of the 4amGMT candle (on the 1hr chart) are counted. oops

ok its 0600 Central European Summer Time which is gmt +2

the final bar is included in the time frame however it should make 2 much of a diffrence as the final bar isnt normaly a indicator bar (ie Not normally The high or low) but it does hapeen sometimes

[SanMiguel]

Originally Posted by TREVPICK001

ok its 0600 Central European Summer Time which is gmt +2

the final bar is included in the time frame however it should make 2 much of a diffrence as the final bar isnt normaly a indicator bar (ie Not normally The high or low) but it does hapeen sometimes

You still interested in these stepped stops?
moving to break even and then trailing in stepped amounts say 50pips, 80pips, etc.

[TREVPICK001]

Originally Posted by SanMiguel

You still interested in these stepped stops?
moving to break even and then trailing in stepped amounts say 50pips, 80pips, etc.

yes defonatly!!!!

[TalonD]

Interesting, I knew there would be a big dip second half of the day, got 50+ pips there, could have got more if I had the courage of my convictions! There seems to be a pattern of 2 or 3 main dips during each day though sometimes masked by a bigger move.

back to the strategy at hand. Looks a little choppy so far tonight, but with the uptrend during the day I'm guessing the breakout will be to the upside this time. What do you all think?

Question about volume, well it isn't really volume, it's tick volume but I notice a spike in it during the middle of the night. What causes that? Also a lull in the middle of the day, I'm guessing because the big traders are taking a lunch break?

[s050399b]

Originally Posted by Clint

s050399b (by the way, what are we supposed to call you?)

Please explain your position. What was your entry price, SL, and TP?

Clint

updated, please see above.

[maq]

hi just found this so wanted to suscribe

[Oskar]

I am early today, but don't see a problem.
Long 1.6497 SL 50 TP 30
Short 1.6426 SL50 TP30

That's mine for tonight and I stick with it.

[TalonD]

Originally Posted by Oskar

I am early today, but don't see a problem.
Long 1.6497 SL 50 TP 30
Short 1.6426 SL50 TP30

That's mine for tonight and I stick with it.

Those look good to me.

[Clint]

Notes on the GBP/USD Breakout Strategy for Wednesday/Thursday:

Last night's breakout was completed at 07:20 GMT Wednesday, at which point the down-move reversed, later breaking out of its descending channel, and establishing a new, ascending channel. This new ascending channel, bounded by Lines 63 and 64 on the current chart, is still intact.

After the reversal of last night's breakout, the GU went on to test 1.6500 before pulling back into a narrow, well-defined range during the current Overnight Period (marked by the right-hand pair of green, vertical lines). The narrow range from HIGH to LOW in the current Period makes a breakout look very likely tonight --- however, at this time, direction is very uncertain.

A newer, shorter, narrower, descending channel has formed since about the start of the current Overnight Period. This newer channel is marked by Lines 75 and 76. Presently, the GU is inside two channels (the larger ascending channel, and the smaller descending channel), but it won't be able to stay there for long. It will be interesting to see which channel the GU chooses to respect.

On this chart, I have marked some potential support levels which a downside breakout would have to contend with. These are marked by Lines 74, 68, and 69. Line 74 is intended to flag the congestion area between 1.6390 and 1.6410 encountered last night, before the breakout, and indicated by the boxed-in area.

Line 67 marks the Day's High, which may or may not be significant resistance (in the event of a breakout to the upside tonight). A strong upside breakout could blow right through this resistance level, but it's impossible to predict that.

I will post another chart, and give specific prices shortly after 04:00 GMT.