Sunday Breakout Strategy

s050399b · September 13, 2009, 7:16pm

Good good, waiting for the Monday breakout pending orders of GBPUSD and EURJPY

cprao · September 13, 2009, 7:36pm

Are we entering a new order for EURJPY or continue with the previous weeks order, if it is stil there ? (I have closed mine on Wednesday for a little profit)…

s050399b · September 13, 2009, 7:41pm

let’s wait for philp838

phil838 · September 13, 2009, 8:03pm

Opening a new one. You should (and did) close it out for profit by the end of the week if it doesn’t hit the TP.

s050399b · September 13, 2009, 8:05pm

could someone post figures for GBPUSD + EURJPY?

thanks,

phil838 · September 13, 2009, 8:05pm

GBP/USD

Long: 1.6689
Short: 1.6643

TP is 168 pips and SL is 36.

EUR/JPY

Long: 132.05
Short: 131.39

TP is 189 and SL is 66.

s050399b · September 13, 2009, 8:15pm

hmmmm, I am thinking of writing an EA to place orders when I am in office, it’s 10am here, or should I just use the code it’s available?

my broker is in gmt2 timezone, and have 2x 1 hour candlesticks when it’s GMT 0000

hmmmmm,

my EA would be like to enter the values manually into the ext variable, and once detected, they would be placed?

I don’t think I want to use my broker’s 2 hour candlestick + philip838 sunday breakout, hmmmmm, still considering,

phil838 · September 13, 2009, 8:25pm

That’s what I would do in your situation.

That, or change brokers.

Or you could backtest the system with the data your broker has. The system will probably still work, but I wouldn’t just assume it does.

s050399b · September 13, 2009, 8:33pm

I can’t change brokers, there’s only 2 Australia brokers that use MT4,

halifax; applied like 1 month ago, and only got the webbased login, mt4 login has not arrived
go market; very efficient, startup like a year ago?

s050399b · September 13, 2009, 8:34pm

how do i backtest the data my broker has? I thought EA only downloads data from mt4 central server?

do u mean manually? hmmm,

phil838 · September 13, 2009, 8:47pm

Yeah, manually.

And if you got MT4 from your broker then it gets it’s data from your broker, not MetaQuotes. EAs use the same data that’s shown on your charts.

Why do you have to use an Australian broker? Most US and EU brokers accept Australian clients, don’t they?

s050399b · September 13, 2009, 9:00pm

OMG!!!

I thought u have to go to history centre (f2), and download the figures? and use it from there?

but they don’t do AUD base currency…

Rei · September 13, 2009, 10:30pm

Wow! the TP only 168 now. I need to update my %.

seans · September 14, 2009, 1:01am

First time going live on this and I stuffed up. I placed two buy orders instead of a buy and sell. Costly mistake.

Most of the time my range agrees with the posts on this forum but this morning it was:

Long 16696 (including 10 buffer and 3 spread)
Short 16646 (incl 10 buffer)

Regarding the ATR, do you wait for the reading off the 13/9/09 weekly bar or do you use last weeks bar. Last weeks ATR was 414 and this week it is 359.

I use IBFX

Regards
Sean

Braylon0208 · September 14, 2009, 1:22am

Hello,

I’m new to this thread. I want to know how do we calculate the ATR?

Rei · September 14, 2009, 2:45am

ATR is average true range. Your broker should have this indicator as part of the charting software

BE on short trade.

s050399b · September 14, 2009, 2:54am

BE on short trade on GBPUSD?!?! what happen?
back from meeting, it’s moving down even further,

BE when 1.6571, right? now i’m moving to BE

phil838 · September 14, 2009, 3:14am

Hi Sean,

I’m not sure what’s going on with your numbers. I’m using IBFX as well and I just double checked my numbers. The ones I posted earlier are the right ones on my chart.

I’ve recently switched from an IBFX demo to a live account. Live and demo could be a few pips different. Maybe that’s it…

Can anybody else on IBFX post their numbers so we can figure out what’s wrong?

I read the ATR as it is at midnight GMT. There’s an indicator in the zip file on the first post that shows an up-to-the-minute ATR.

phil838 · September 14, 2009, 3:17am

I’m not sure what’s causing it, but I like it.

Yeah, BE is 1.6571.

Rei · September 14, 2009, 3:31am

I got pretty much sean’s numbers. im on IGmarkets