$* Statistical London Breakout Strategy *$

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908

actually I am not sure about the setting, for me. Im in the country of GMT + 8 , but I set GMT +1 in the mt4 to get the ref candle on 10:00 GMT +3 .

I suggested that, it is better for u to count the Time until ref candle, the Time until ref candle must reach 00:00:00 after 10:00 GMT +3.

909

Daylight savings are on from April to October. Hence the clocks are moved forward by an hour.

910

ya agree with that. because even though having GMT +2 , my setting still GMT + 1 , because the brokerā€™s mt4 will change to GMT + 2 which is on the 9:00 candle . still the same for my setting

911

Automatic GMT set to ā€œtrueā€ is working perfectly for both the London and New York sessions.

Itā€™s trading at 2.78 lots which is a lot more than Iā€™d like to trade. I know how to edit the settings but I donā€™t know what they should be. For example, Iā€™d like to trade at 0.1 lots, or even 0.01 to start. What should I change?

These settings are probably easy once you understand them.

trade settings.jpg700Ɨ77 9.61 KB

913

Expanded to group with setting descriptions:

SL;DEV_BUY;DEV_SELL|
0;40;30|

TP;TP_VAL|
1;300|

BE;BE_TRIG;BE_DEV|
0;0;0|

TS;TS_TRIG;TS_STEP|
0;0;0|

MM;MM_VAL
0(fixed lot size);0.01(# lots)
0;0.01

Condensed back down:
0;40;30|1;300|0;0;0|0;0;0|0;0.01

Jonathanā€™s trade setting explanation (post #483)
SL - Always put 0 for now
DEV_BUY - Distance from Ref. Candle high to long position
DEV_SELL - Distance from Ref. Candle low to short position

TP - Always put 1 for now (more functionality to come)
TP_VAL - Take Profit value in Pips

BE - Breakeven: Put in 1 to use, 0 to ignore
BE_TRIG - Amount of pips after which BE is triggered
BE_DEV - Deviation of BE from open price

TS - Trailing Stop: Put in 1 to use, 0 to ignore
TS_TRIG - Amount of pips to trigger TS functionality
TS_STEP - Amount of pips for interval of resetting the stop

MM:
0 - Risk Fixed Lot Size
1 - Risk Account Percentage Considering SL
2 - Risk Fixed Lot Size Per $100 In The Account
MM_VAL:
The according value to the before chosen option.
ā€œMM_Mode_2_Valueā€. This setting determines by which figure the account size will be divided for the MM calculation with the 2nd method.
Re_Num is the number of reentries that are allowed for each side per day.
Re_Minutes will tell the EA how long it is allowed to reenter after the 1st of the last 2 trades has opened.

914

Thanks for expanding that, shresdk. This fuddled brain can now understand it. :>)

915

I performed two back tests, both using 0.1 units. These were run from 1/2/2013 thru 5/28/2013.

The London open 60 minute test resulted in a loss of $26.97
The New York open 15 minute test resulted in a loss of $396.40.

(The software will not allow me to post the graphic test images).

916

I have been backtested a lot of tweak on this EA. What I can say is, it wonā€™t last for long term.

917

please kindly share the indicators for this thread, thanks

918

See page 64, post #636.

919

I would like to see how this system is doingā€¦ has anyone published results for it? Thanks

920

London breakout strategy is the most suitable one for my trading style and also when am trading GBP/USD currency pair to make some good pips.

921

If I may ask 5 min before the last candle or 5 min after London open for a hour

922

Anybody still using this strategy?

923

It still works most days.

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924

pipcompounder where have you gone

925

I think the death of this thread says it all about this system. Any Newbies take note.

[B]Any system that has an r:r less than 1:1 (where risk is higher than reward) at the heart of itā€™s operation. Will ultimately fail.[/B]

926

Not true, all systems based on breakout dont need bigger than 1:1
The prolem is this kind of traiding not suitable for those who faint hearted