$* Statistical London Breakout Strategy *$

Hi Ibcox,

Here’s the link for EU London Open. If you mean for GU London Open, I’m working on them atm, will post when complete. Bear in mind if your broker’s server time is different to mine (GMT+2), your candles will be different and the stats may not compare. If your broker’s time is different to mine, post a csv of the history with the time off-set and I will run the stats for you.

John

http://forums.babypips.com/free-forex-trading-systems/46841-statistical-london-breakout-strategy-66.html#post448029

Ltrader - Nice work again! Will develop/test TP/SL levels.

London was good to us today, and NY candle is less than 10 pips tall, so the risk\reward is great-we could lose both ends and still net 10 pips for the day thanks to London, and wow, the Euro really has been climbing.

Ltrader- thanks so much for the stats, I like the 15 min NYO, it seems to show very good results with 30 pip SL and both 30 pip and 40 pip TP, and is consistent with my testing.

EDIT: NY did exactly as I said it could, taking out the stops…but the day ends in profit…:smiley:

Yep…London was good, but didn’t pay attention to LTrader’s new stats for NYO and got stopped out on the NYO buy side. Sell going as planned.
EDIT: Sell stops were taken out as well.

Hi Jonathan,

I am also using the Android MT4 app to view my account and trades. I know it is possible to use the ‘SendNotification’ command to send notifications to your mobile device (once it has been paired up with your main PC MT4 version in the option menus).

Would you be able to add a (switchable) option to send notifications when orders have been successfully set by the EA?

Also, is it possible to get notifications to say that the TP or SL have been hit on the orders?

Many thanks again for your work here.

drb.

Hi drbios,

do you mean the Alerts by notification? See attached image :slight_smile:

Jonathan


Hi Jonathan,

I am not sure they are the same thing. The ‘Send Notification’ command sends notifications to devices setup under (in MT4) Tools >> Options >> Notifications tab.

Alerts appear only on the screen in a window as you have shown.

Thanks.
drb.

Oh ok, I didn’t use that feature yet, but should be no problem :slight_smile:
I can’t push out an update this week though, beginning of next week we’ll have Alpha 6 then!

Brilliant! Thank you Jonathan. :slight_smile:

Today quickly lost both sides on both sessions. -68 pips. This will happen sometimes.
Tomorrow’s another day.

I used a 30pip S/L & hung in there for a little while, but my results were the same. How will NFP effect this strategy?

Hmm my feed must be different or I’m doing it wrong.
I had no trade for London open as bar was under 30 pips and New York closed out for + 30 for me.
Using IG Index and manually trading if that matters

You’ll find out…:smiley:

Seriously, sometimes the london is over with before the NY starts on nfp, other times the london ref candle turns out to be the same area as the NFP breakout. This will be the first NFP with the NY idea, so, we’ll see what happens.

how do i change for the server time? im think my server is gmt -5

would like to ask is the EA to be run only on london and NY session? every morning i on before i go work there is nothing but when i go in and see during afternoon(london session) then got alot orders pending

Results for January for London session:
net 77 pips…kinda rough, but still positive.

NY…I can only get candle info back to Jan. 18, netted 44 pips…also, a bit rough.

Today’s london buy is still open, and NY buy is also open, after a sell loss…we’ll have to see if Euro will continue upward today, target is about 1.3690 for both session’s buy.

Edit: nope, NY will be a double loss, and London lost, too, sell open…market is ranging below the peak. News has come with opposing directions, so the market is just following this. This is where you find if you’ve been using good money management and have the patience to let the strategy bring in money over the long term. There will be flat times like this.

Looks like the NY sell will help recover the days losses. For Feb, March April and May, I am in a “set it and forget it” mode to see how it goes. My settings are as they were posted a few days back so lets see what the next 4 months bring. Still in demo mode but just want to see how it rides. Looking for the long term growth. PC, I must say, I really like the concept and to Jon and CrissCross, nice job on building the EA.

UPDATE No recovery today.

I will be doing the same, leaving the EA to do it’s thing.

Note for today on the EUR\USD, you just saw how a Market Maker get’s their books back in the black after a very, very long uptrend with almost no retracements.

Overall strategy seems to be solid,I wonder if results would be better with something as simple as no trades on Fridays(some swear by this) or at least none on NFP day

Most of the NFP’s on the london idea, which I have traded since last September, have been profitable.

What I am interested in is when the price goes 80 pips, how to capture that without having to lose more times, or have too short of a SL that would get hit too much. This would help increase risk reward and make up for losses.
Some of the ideas I’ve been kicking around in the back of my head are:

  1. Have a high TP of 60-80 pips, and have the “BE” move to +20 to +25 pips when price is +30 pips, and let price run into one of them from there.

  2. Have a really large buffer around the ref candle, and 60-80 pip TP…the problem with this is the large SL, which we would have to test to see if a maxSL, like 30 pips would work.

During last summer, there were so many big moves every day, that a single 60 pip TP was more profitable than 30 pips, despite a few more losses. But this didn’t last.