Sunday Breakout Strategy

Trading Systems Free Forex Trading Systems
570

Any idea why FXDD would show it not ending for 15 minutes?

571

572

timezone? not sure what is your gmt offset of your brokersā€¦

573

Sorry, newbie mistake. Was bouncing between this posting and a posting in forexfactory that I thought was just like this one, but realized there are some differences. I ended up getting the exact data you did.

574

oh? thereā€™s a sunday breakout thread? pls post the link,

575

Here you goā€¦this is a link to the forex factory posting. Basically seems to be quite a like to this systemā€¦though the targets are a bit different.

Also, they stress to use it on JPY pairs, not the GBP/USD pair like here.

forexfactory.com/t/168161/4h-box-breakout-1.html

Happy Trading!

576

This weeks trades have a high sl at about 90 pips which means a long way to go before we get to BE at 180 pips, I am going to move my position to BE if it reaches 100 pips of profit which keeps it about normal . as the PT is also about normal i dont think it warrants such an unusually high point to reach to get to BE, just my opinion though, as with any strategy changing the rules could end up costing me or could result in my trade profiting where others have lost, who knows.

My brokers ATR has always been considerably different to that of phils ibfx feed, According to my feed we have a weekly ATR of 490 meaning PT of 245, can someone pls correct me if this does not match IBFX ATR

Thanks

577

HI nutrader, I am using IBfx, my data is ATR 449, PT 225. I am not sure is this the correct one but most of the time, mine is quite tally with Philā€™s.:slight_smile:

578

thanks mumpips

579

Hey guys whereā€™s phil? I hope he is okay I am so used to him posting alot and I havenā€™t heard a peep out of him lately?

580

yeah, a bit worrying.:confused:

but i guess pip surfer was also gone for a while. its summer vacation period nowā€¦

581

Phil said he has to attend to some urgent matter on his previous post.
Hope he is fine. :slight_smile:

582

This weekā€™s trade is going well. Has anyone reached their target price?

583

Using amended rules I closed out half at 2R and the other half at 3R yesterday

584

i confess that i took profit when price turned back before 1.7 yesterday around 5pm gmt as i am always a bit wary of the big numbers, however looks like target was hit later last night

585

nope. iā€™m waiting for 1.728. donā€™t want to think too much. just sit on my hands. at worst, breakeven. I need every cent of the full profits to pay for the losses.:stuck_out_tongue:

So easy to say, so difficult to do! how do you stop a dog from eating a cake in front of him???!!! :confused:

how do you stop yourself from rationalising that a bird in hand is better than 2 in the bush??

586

Its like that experiment where you say to a 4 year old, if you dont eat this marshmellow after 5 minutes then you can have another one when I come back, and then leave the room. 2/3 will eat the marshmellow.

Thats interesting. How did you arrive at 1.7028?

587

we are supposed to mature as we grow older. yet, we behave no more rational than kids or animals!

Even putting a large banner in front of me " SIT ON YOUR HANDS!!! " will not stop me from the voice screaming inside me ā€œTAKE THE PROFIT AND RUN!!!ā€

Help me, Iā€™m going crazy!!!

:eek:

588

Taking a profit is not necessarily a crime, taking a profit too early is.
If I saw price getting within say 5% of my TP and then showing clear reversal signals I would be tempted to take the profit. There is nothing worse than missing your TP by 5 pips and watching it retrace all the way to BE, or worse SL.

589

just that you never know what is ā€˜too earlyā€™. :stuck_out_tongue:

in any case, sitting on my hands worked this week, 1.7026 has just been hit. Iā€™m out. this week was good.