Ok thanks for clearing that up CryAgony. Great job so far, keep up the good work!
I started back testing on AUDUSD. From Jan 2012 to April 2012 (though my history is lacking almost a month in feb here at work for some reason) I’m up about + 542 pips.
Also note, I was also trying that breakeven once price hits the first fib mark. There’s an 8 pip difference for that same time period. + 534 pips. Sure, I might not have been stopped out nearly as much, but I think it stopped two of the trades that would have went on and made 110 pips. I’ll post my final results as soon as I finish my work. So far, so good though!
After a deeper reflexion I’m not so sure any longer if avoiding monday is that good. Cos with a further analysis yes, mondays are flat, but lot of times it also gives a earlier entry for the week, resultign often in a 110 profit…
What do you guys think?
In the usual febr->june test it was 9 times -30 and 6 profitable, most of the times with 110 pips
Even better in comparison to regular days uhm!
who is trading the breakout now. It’s my first day on it and i woke up late (gmt+1 ). can anyone please confirm the entry price, i am a little confused
Correct me if Im wrong but wouldnt you set which ever indicator you use to 7pm-8pm, this would capture the candle from 7pm to 8pm and the candle from 8pm to 9pm which would be a two hour window instead of the settings of 7-9pm which would actually be three hours. I got good results using fib levels for targets and stops instead of fixed tps and sls.
I went to this thread from GG searching for a breakout strategy. I never tested this live on market because I came here during the week-end.
The thing I always do to check if a strategy have enough legs, I simply code an EA and make back tests.
So, I made an EA (place stop orders, move BE, 2 targets, remove after 2 hours, etc …) for this and will begin forward & back tests on the 6 majors when markets will be open.
All the rules are 100% respected and I added some money management. 2% per trade (2 stops same direction is one trade for this) based on account balance.
Currently, with a week-end (****ty spread) the EA is at break-even on a 6 month period.
I’m a bit reluctant to ask if there’s a way to view all the attachments to this (or any other) babypips thread - I mean, there has to be an option like that, right? On forex factory one just has to click a ‘paper clip icon’, intuitively placed, next to the ‘page numbers’, on other forums one might have to go to the ‘threads index page’ (a bit clumsy), but usually there’s a way to see a list of all the attachments.
If there is such option here, it sure isn’t in view…
"The United Kingdom does not observe Greenwich Mean Time (GMT) during daylight saving time in the summer months. Instead the country observes British Summer Time (BST), which is one hour ahead of GMT and UTC. The United Kingdom moves its clocks forward by one hour on the last Sunday of March and back again on the last Sunday of October.
The only European country which stays on GMT all year round is Iceland."
