HI Madmkiv, it did record the first breakout trade and ill post later today for you guys.
thanks
Hi Monsterpip, I usually try to look for a reversal patter or a candle bounce that favors the direction of the trade off of the 61%. Our stop loss after the formation will be the dot (not confirmed yet). You can also enter the trade without the candle confirmation and place your SL on the other side of 76%.
thanks
Hi Goodpunk, nice trade. How does the spread work with crude anyways? And can you give me an example of profits, it may be worthwhile trading commodities also.
thanks
I started trading the Asian session with the original strategy but only between 23:00 and 0:200 CST.
I only look at the EUR/JPY and GBP/JPY pairs on the M1. This week I caught 3 signals on the EUR/JPY pair and all three were winners for a total of 40 pips.
It was a pleasure having you on Alex and im sure we will be trading together allot going forward especially now that I know you are just up the road.
thanks
Thats awsome Darklighter, post your setups both wins and losses so we can learn and get better. Here is the next webinar info.We will be trading Monday morning at 2am:
Please register for Forex Breakout / Fib Pullback on 09/06/12 11:00 PM at:
Hello, the 2nd live trading webinar for the system traded on a live account during the EUR Session starting at 2am EST (New York)
After registering, you will receive a confirmation email containing information about joining the webinar.
Brought to you by GoToWebinarÂŽ
Webinars Made EasyÂŽ
thanks
Here are the setups for today on the EUR/USD. We tool the first breakout trade for 10-12 pips.
thanks
Thanks! So, I have a dedicated platform for execution. My broker is topsteptrader.com and they are a futures trading firm. So the spread is usually super tight. 1 penny if there is ever a real spread and then it only lasts for a split second. I get charged $2.50 per trade. On MT4, the spread is usually 4 ticks through fxpro. They offer crude, stocks, and forex. I just use them for charts and thats it.
If youâre worried about the 4 tick spread, donât. Crude moves quicker than any pair in forex imho. If youâre strict and are soley trading for a number of ticks, then 15-25 should be your target. 4 tick spread gets paid. Over the past two weeks I have had 8 out of 10 up days using this strategy. Using the Fib pullback to the ICTs sweetspot not only gives you an advantage but is straight up a weapon against risk.
Great system. Iâm probably going to use this one for years.
Paw3000 thanks for sharing your system
Do you wait for the candle to close past the line before you enter?
And what session do you use with your system?
Thanks
Thanks Blizzard im looking forward to monday
Thanks, here is the first live trade we took, many more to come and better audio next time:
Forex Breakout System w/ Fibonacci pullbacks Scalping 5 minute on MT4 - Blizard - YouTube
sorry not able to open the file
Here is the next webinar info. for 2am Monday June 11th.
Please register for Forex Breakout / Fib Pullback on 10/06/12 11:00 PM at:
Hello, the 2nd live trading webinar for the system traded on a live account during the EUR Session starting at 2am EST (New York)
After registering, you will receive a confirmation email containing information about joining the webinar.
Brought to you by GoToWebinarÂŽ
Webinars Made EasyÂŽ
thanks
Well, i changed the stochastic for a rsi 5, lvls 85,65,35,15, that starts to be a true filter. buying when it is between 65-85 lvl only.
Hi christina, yes, i use to wait for the candle to close. I start trading 2 or 3 hours after london opening,to see how many pips i could make in this past 2-3 hours and take some ideas about trend and optimal tp. I think that London session and the first ours of New York should be the best time to trade, when there is more volatility, like the first ours of the week, when i use to take a few pips too.
I have been backtesting the system on oil charts, that seems to work well, be able to catch breakouts of about 100 pips at 5min chart :53:.
What do you think about gold? there are a lot of breakouts thereâŚ
the first trades of the week. I wish you a profitable week ^^
Gbpaud
Eurjpy
Audcad
How did the 2nd webinar go? Are you able to upload it again for those of us who were unable to make it?
hi dannyg86, it went well. 30+ pips in approx 3 hours. many fib pullbacks to 61%. Maybe we will have the webinar during the USA session Tuesday morning instead of the EUR session. Thanks to all of those you tuned in. Ill edit the video and post a summary video later today.
thanks
it was great even though i didnt get a chance to catch it all!! thanks again Blizzard i had my alarm set for 2 am est but it was a really hot day in toronto and i had a soccer game too lol long story short i slept in⌠smh lol⌠but great trades again guys this system just works⌠if you follow the rules!
Best regards
ALEX
just got another great short on eur/usd !.. got my 10 pips and its still goin⌠again discpline and patience yield great results with this
I do concour !! Patience and Disipline is the key 
Sorry i couldnât make it this morning guys, majorly overslept and was late for workâŚ
One thing about being iâll and fluey⌠Donât trade !! Have i followed most of my rules today, lol no ! Glad its still demo though. But hey i just got to learn to identify when im iâll and not trade
Otherwise i think today would of been good for me, if i had entered and exited properly!
This is a great strategy though, truley.
Paw3000 how are you getting on with oil? Is it still giving you such large breaks ?
Had a good day on friday with 50 pips late in the day and a nice 67 this morning. I exited way before -61.8 this morning as something didnât feel right and I was happy with 67 pips. Both trades on Eu M15 and both live.
I would love to nail exits though. Back testing all weekend showed good entry but exits on -61.8 can be spurious, very rarely wrong but in many cases not harvesting the pips in enough quantity as the price shoots past that mark. Sometimes it hits TP on the nose and reverses so I would very much like to get a profit target sorted with a proper methodology. It appears to be where you draw those damn fibos again⌠As I create a rule it is good for a few trades then changes, then changes back etc etc.
All theories on profit taking welcome
Update: Just noticed i traded an unconfirmed M15 dot. 8.30am uk @ aprrox 1.25901. No wonder it didnât feel right lol.
first of all and once again, thx for your webinar Blizard.
yes, there you can see this morning trades on usoil, i only could take the last 2 because i was sleeping at the others,+126 the first and im still on the last, +105 pips, the price hasnât touched my tp for 2 pips cause of the spread⌠That trades on eurusd would make 25-35 pips, Iâm trading oil, so i get 100 pips^^. Special thanks to goodpunk6 to introduce this new market ^^, and give me the chance to win more pips trading oil 1 morning, than trading forex last 2 weeks ;).
as you can see at my last uploaded picture im trying fibo expansion lvl 161 to tp.
usually there is not a big diferent between this and ânormalâ fibos. and sometimes its imposible to find an optimal place to put themâŚ
An example on eurusd min 15:
fibo retracement tp lvl: red
fibo expansion tp lvl: green
Or you can try using atr max sl indicator, or using pivots as tp, or bollinguer bands/ keltner chanel/ envelopes, or a % of your stop lose as tp, or closing a % of your position at 100/0 lvl and put the other at break even with tp at -61,8 or even fartherâŚ
(Giving ideas) 