GbpUsd 5 min breakout

[lilicaca666]

that I want to split the system that I started trading this November. I'm getting some very good effects, I obtained 720,6 pips trading GBPUSD (this value contains the normal spread of 2,5 pips, I trade with Alpari Uk).

Here it is:

- Draw a box over the 8.00 along with the 8.10 candles onto a blank 5 minute chart (GMT 1, for additional info on timezone conversion visit http://www.timeanddate.com/worldclock/converter.html).

- Place a buffer of 10 pips on the high and low of the box.

- Place two pending orders, one buy stop in the top of the box (including buffer, of course) and one sell stop in the bottom of the box.

- Stoploss is the low of the box in a buy order along with the high in a market order.

- Require profit is going to be the box size in both circumstances.

- One order does not cancel another.

- Orders perish at 23.00 GMT 1 of the next day.

- I take profit of the first orders is not attained I duplie the lot size in order to cover my previous loss and still make profit, if I have a reduction in the second commerce I wait until the next day. There'll always be a tomorrow.


Remember, manage your risk wisely, never risk more than 3% of your equity in one trade.


I'm forward analyzing this method in a small live account and will continue until I've satisfying results that may give assurance enough to trade it on a bigger account and join it to my trading portfolio.

What do you think about this system?
https://www.nigeriaforextrading.com/attachments/1519060749935803239.mq4
https://www.nigeriaforextrading.com/trading-discussion/87-indiors.html

[sabelaguix]

92525Are you guys live for this?

[Emllennin92]

92525
I think you may be right but, PA still looks SEMI favourable since it has not broke the last retrace high nonetheless. I think I would still be in for now.

I am using FXCM also it labeled the upper band for me precisely but, I dont input until it moves by 3 pips so that I wouldn't have taken it. Glad you overlooked that very long trade!

I am using the 3 Fragrant as a filter for your transaction. . .and price is below the 60 SMA on the 5 minute, 1 hour and 4 hour charts. So..if you stay with your short trade, you are definitely at the tendency now.

Good luck, my friend. I am just leery when it comes to this hour of the evening and no strong tendency has developed.

[iinoxpkmmes]

92525
Are you trading live for this? Have been because 20 dec I shed day rest goodtouch wood up to Now

[sabelaguix]

92525
have been because 20 dec I lost day rest goodtouch wood so far'I lost day rest'??????

Bob2

What's it for youpersonally?

What ratio of bad trades to great transactions does the 3 ducks method filter out to you?

[iinoxpkmmes]

92525
'I lost day rest'??????

Bob2

What time is it for youpersonally?

What ratio of bad trades to good trades does the 3 ducks method filter out to you?
Sorry bad england seeing a trade and watching ff in order a hurry meant won every day except one

[sabelaguix]

92525
sorry bad england seeing a commerce and watching ff so in a hurry supposed won every day except one
Ah right well done.

Can you trade twice a day if the opportunity arises?

What MM do you use?

[iinoxpkmmes]

92525
Ah right well done.

Can you exchange twice a day if the opportunity arises?

Exactly what MM would you use? Yes leave my orders available till place following day
always double up as soon as first stuffed
around 4 percent on second awakened order

[sabelaguix]

92525
yes leave my orders open until place next day
always double up whenever first filled
around 4 percent on second doubled up order
Thus, averaging gt;2 percent every day.

Nice return. Hope it continues.

[iinoxpkmmes]

92525
Therefore, averaging gt;2 percent every day.

Nice reunite. Hope it continues. So do

[sabelaguix]

92525PA showing signs of change now. If it doesnt hit on the 1.5915 level in the next 6-8 pubs, I believe we will eliminate this trade.

[sabelaguix]

92525Thats the level hit.

Now in case it passes 1.5905 I think we are in

What do you guys think?

[iinoxpkmmes]

92525
PA revealing signs of change now. If it doesnt reach the 1.5915 level in the next 6-8 bars, I think we'll eliminate this trade.

Looking good moved sl to breakeven

[iinoxpkmmes]

92525baled at 5907 25 pips to Not Poor safe from the bank

[sabelaguix]

92525
baled in 5907 25 pips to not bad safe in the bank
Whats that.... About 1 percent profit?

Not bad in a choppy market

[sabelaguix]

92525Got to go shoppin now

Bl**dy girls!

Hope all goes well for you guys, see ya later

[Llcumini]

92525So good today. I'm doing some testing of box times and SL/TP-levels. Either TP/SL = range buffer or utilizing buffer, but TP/SL = range only.

For today the first option is gaining greater, but lower breakout activity would possibly prefer the lower TP/SL. More testing is needed, to say however. And manual monitoring is of course of great significance.

Experience or ideas?

[sabelaguix]

92525Back now.

I see we're still going, I think a SL move to BE could be sensible at this point.

Anyone in?

[sabelaguix]

92525Hey Lanzio

Any pleasure with your EA yet?

[Salvaklm]

92525
Hey

Any pleasure with your EA yet? Hi all just back from vaion, I'll work to complete the EA when my job allows me to... a bit busy lately.

The system appears quite promising, I added an choice to move SL in BE once x pips profit... like now it set a BE on the brief order when it was 20

I have to apologize to everybody here, I know I'm a little slow, but the software house where I work requires a lot of my time in during the first two weeks of new year.

I'll do my best to complete the job as soon as I can.

BTW I'm using the EA as it is (with some bugs) already on a small live account with great results up to now.

Talk soon. . Good pips for everybody.

[sabelaguix]

92525
Hello just back from vaion, I'll work to fill out the EA when my job lets me... a bit busy recently.

The system looks quite promising, I already added an option to move SL at BE once x pips profit... like now it place a BE on the short order as it had been 20

I must apologize to everyone here, I know I am a little slow, but also the software home where I work needs a lot of my time in during the first two weeks of new year.

I'll do my best to complete the project as soon as I can.

BTW I am using the EA because it is (with a few bugs)...
Primarily, you have nothing to appologise for. You're attempting to help us all and that I for one, am very greatful.

Secondly, I would love to ask if its possible to build something in to th EA?

[sabelaguix]

92525I would like the ea to decide just how much to trade according to a specific set of rules which will comprise:

Box dimensions (including buffers)
BR
a varying percent of BR(in the kind of 0.05 for 5%)

The formula maybe

(BR*(percent of BR))/box size = pip value

as soon as you have pip value, then decide how many lots to exchange to ensure the traded pip vaue NEVER exceeds the calculated pip value.

I'd like the'percent of BR' to be manually changeable.


Does any of this make sense to you?

[peenpeen]

92525Hi All,
I am utilizing a GU breakout strategy and this thread attracted my attention. Enrolling in....

Kostas

P.S. My box also sets orders at 7:15 GMT but extends back hrs. So I will check this one without interest.

[Inmema]

92525this system, even profitable for now, will definitely:

1. Fulfill a row of losers, so many losers a trader will eliminate faith;

2. Experience a period (maybe endless) it no longer earns. This age can comes much sooner than you expected.

To overcome those problems:

1. Filter is needed. Too wide or narrow box, do not trade. An example.

2. At 1 or 2 years, longer backtest, man.

[iinoxpkmmes]

92525
this system, even profitable for now, will definitely:

1. Fulfill a row of losers, so many losers that a trader will lose faith;

2. Experience a period (maybe endless) that it no longer earns. This period can comes.

To conquer those problems:

1. Filter is necessary. Box that is narrow or too broad, don't trade. An example.

2. Backtest, guy, at 1 or two years. Pleasant to see that a ball of trust

no trade today NFP like to hold onto my money

[hecpkmhlm]

92525
this system, even profitable for today, will definitely:

1. Fulfill a row of winners, so many losers a trader will eliminate religion;

2. Undergo a period (possibly endless) it no longer earns. This age can comes sooner than you anticipated.

To overcome those issues:

1. Filter is necessary. Box that is too narrow or too broad, don't trade. Just an example.

2. More backtest, guy, at least 1 or 2 decades. Well said Charvo...I couldn't agree with you. . I've mentioned this point several times in this thread but there does not appear to be much interest in talking it...I think it would most likely be far better if this thread could be moved into the trading systems department as there would be many more viewers there. . Perhaps Cain could request this by the mods...??? I currently employ a few of my own rules to this technique but I've only been trading live because the beginning of the week so its too early to know how it will work out...

[Emllennin92]

92525Winner. . .chicken dinner!

[sabelaguix]

Fast trade now men.

[Llcumini]

92525
Well said Charvo...I couldn't agree with you. . I have mentioned this point many times in this thread but there does not seem to be much interest in discussing it...I think it would most likely be far better if this thread could be transferred into the trading systems section since there would be many more viewers there. . Maybe Cain could ask this from the mods...??? I currently employ a few of my own rules to this technique but I've only been trading live since the start of this week so that its too early to know how it will work out....
Fxblinkers,

I am interested in your tweaks for this system. In addition, I feel that some sort of filters are needed and that losing periods will be seen by this system. I currently watch how big this box, when it isn't large or too small, trading only. I believe that is common sense, in regards to breakout systems. I have also checked the closing of the first candle after the box (7.15 candle). What are you experienced?

Regards

[hecpkmhlm]

92525
Fxblinkers,

I'm interested on your tweaks for this system. In addition, I think some sort of filters are necessary and this system will see periods that are losing. I currently watch the size of the box, trading when it isn't too small or large. I think this is common sense, when it comes to breakout systems like this. I also have checked the closing of the candle following the box (7.15 candle). What have you experienced?

Regards

Archie Hi Archie,

Yeah I agree on the box dimensions as if we are calling this a breakout system and the box size is lets say 60 pips then the breakout will have already occurred. . .however, in certain testing that I have completed (only manually/visually on MT4) I have taken into account all bow sizes less than 80 pips simply to see does it work. When its apparent that the box will be closed outside by the candle, Additionally, I will enter. I also use this to my stoploss as I track my trade and don't actually have a SL set up and I will only close the transaction manually myself after the other side of the box was broken and I am confidant that the 5 min candle will shut outside it. . It a bit of a pain having until I shut out, to see PA but very often its only for an hour or two in the afternoon. . I also have found that when we double our lot dimensions even after a winning trade we could manage to enhance performance by an extra 1.5percent per month approx... I have tested this by Feb 09 to Dec 09 and found a 5K account might have risen to a 18K account during this period risking 3 percent per trade/day. .nevertheless, I'm sure there are a couple of improvements we could make but unfortunately I'm probably not experienced enough to figure it out especially as my manual back testing takes me so long... Something I am sure of however is that if you wait to get a candle shut before entrance it will keep you from a lot of false breakouts.... Have you done much backtesting?????

[Llcumini]

92525
Hello,

Yeah I agree about the box size like we're calling this kind of breakout system and the box size is lets say 60 pips then the breakout will have already happened. . .however, in some testing that I have done (only manually/visually on MT4) I've taken into account all bow sizes less than 80 pips just to see does it still work. I also will enter when its clear that the candle will probably shut outside the box. In addition, I apply this to my own stoploss since I monitor my commerce and don't really have a SL in place and I will just close the trade ...
Fxblinkers,

I've only backtested the very last months of the past calendar year, but I will continue testing. As of this moment, I am analyzing differences between utilizing TP/SL based on range buffer or based on range only. I've noticed that a TP based on range will achieve its target but it is too soon to tell whether it is more profitable. I'm also testing breakouts at London available (8 GMT), however this also requires more testing.

I've only tested visually, however I will begin testing on demonstration as well, and a tiny live account in the future. I prefer testing with low lot sizes on accounts, because this is nearer to the reality.


Regards

[sabelaguix]

92525@ Fxblinkers

Do you feel that this system could work with binary choices?

Clearly we would need to have the ability to start the trade quite early on in the BO so we would have chance to hit the large pips(not sure if its possible but the BO market opens at 8 am...I think). I am thinking that we would be exiting before the BO'at the money' but at a possibly VERY profit.

I have not attempted BO as yet but it seems like it could have potential.

What do you think?

EDIT, oops....BO = Binary Options....NOT Breakout !!!!!!!!

[Emllennin92]

92525Whatever occurred to Cain?

[sabelaguix]

92525We haven't heard from him for some time now.

Perhaps he is just raking the cash in

[hecpkmhlm]

92525
@ Fxblinkers

Can you feel this system could work with binary choices?

Obviously we'd need to have the ability to start the trade very early in the BO so we'd have opportunity to hit the large pips(not sure if its potential but the BO market opens at 8 am...I presume ). I am thinking that we'd be departing before the BO'at the money' but at a potentially VERY profit.

I have not tried BO as yet but it looks like it could have potential.

What do you think?

EDIT, oops....BO = Binary Options....NOT Breakout !!!!!!!! Hello,

Yeah I think there might be a good way to trade this with Binary but I am not overly familar with trading binary..however, I did some research a couple of months back in relation to trading hourly adjusting the stake each time but only when certain conditions are fulfilled as in order to win the trade you would just need to predict if the next candle was red or green... I'll give some idea to trading this technique using binary and come back to you on it. . .what time frames and approach are you thinking about????

[hecpkmhlm]

92525Hi Guys,

I've just been thinking about MM for trading this breakout and want your opinions...

When the box size is 50 pips and then we follow Cains guidelines and double the lot dimensions after a shedding 1st trade then that means that our max loss for this day would be 150 pips. So for example on a 10K account and risking 3% a day that would imply 300/150 = 2 euro a pip. However if we were not to double the lot size after the first part of the transaction loses out then max loss for the afternoon is 100 pips..hence 300/100 = 3 euro each pip. . I know that it means we would have more break even days but when we shed since when we win we'd win more, we'd lose less to R/R. I have not back tested this yet but just thought I would throw it out there if anyone has studied this kind of MM...

[Emllennin92]

92525
Hello Guys,

I've just been considering MM for trading this breakout and would like your opinions...

When the box size is 50 pips and we follow Cains guidelines and double the lot dimensions following a losing 1st trade then that means that our maximum loss for that day would be 150 pips. So for example on a 10K account and risking 3 percent a day that would imply 300/150 = two euro a pip. But when we were not to double the lot size following the first portion of the transaction loses then out maximum loss for the afternoon is 100 pips..hence 300/100 = 3 euro per pip. . I know it means that... It is good to think of how we could enhance the profitability of the egy. And it's simple to backtest your assumption. But. . .over the course of the previous 50 trading sessions, the 2nd trade has a higher percent of wins compared to the 1st trade. If you eliminate the doubling-up of the 2nd trade after a 1st commerce reduction, you're eliminating the most persuasive element of this egy IMHO.

[hecpkmhlm]

92525
It's fantastic to consider how we could enhance the profitability of the egy. And it's simple to backtest your assumption. But. . .over the course of the previous 50 trading sessions, the trade has a much higher percent of wins compared to the 1st trade. You're eliminating the element of this egy IMHO, if you remove the doubling-up of the 2nd trade after a 1st trade loss. I agree with you to an extent BobCat..however, looking at outcomes from Feb past year to Xmas paints a completely different image... Nov and Dec not typical outcomes for this procedure of trading..in fact if anything they were odd outcomes. . .if just monthly could be like those ones we are laughing all of the way to the bank...

[jamgem01]

92525Hi men,
as mentioned previously by many members, I started to use some filters, simply to confirm which way should I place my orders. I'm also putting only 1 order (long if blockers says uptrend and brief if filters says downtrend).
I am using the 3 Fragrant and a TRO tube!
Anyone employing the exact same and any back testing on theses filters for this egy?
I am trying to compare the results of the egy with and with no filters, maybe we can cut the false breakout

Happy Pips all

[Emllennin92]

92525
I agree with you to an extent BobCat..however, looking at outcomes from Feb past year to Xmas paints a very different image... Nov and Dec not standard results for this procedure of trading..in reality if anything they had been unusual outcomes. . .if only every month could be like these ones we all be laughing all the way to the bank.... Fxb,

I'm glad you are utilizing trading information to support your hypothesis. Personally...I am not fond of all back-testing too much. . .4x market conditions are just too prone to change making earlier data almost useless. I like to build up trade data that is sufficient make alterations to the prevailing base startegy as needed, and then to build a probability instance. For me, two weeks of commerce data works well much of the moment.

Which brings me to ask. . .did you carefully adjust your time frame information that is chosen to coincide with the changes in daylight savings period for both London time zones and the USA? Should you wre accurate with this. . .your information is faulty.

Great trading my friend!

[hecpkmhlm]

Good trade now. . I managed to get 58 pips on the London B/O and another 30 on the N/Y. .happy days...

BobCat, No I did not adjust the Daylight saving for rear evaluation and you are quite right that my information is most probably flawed. . I am not much good at backteating to be truthful so that I simply working from the information that I can manage to get..however, there needs to be some virtue in the information I've collected even though it simply gives me an idea of chance over the entire year at those times. . .it appeared to produce reasonable results without changing the days but of course I am expecting to have this very well tested in the coming month or so... It is the double losing commerce that the profit killer and that I also trying to determine a better way to exit without undermining the process. . .my head is all but melted to be fair. . .anyway excellent luck with your trading...

[sabelaguix]

Hello,

Yeah I believe there may be a fantastic way to exchange this with Binary but I'm not overly familar with trading binary..however, I did some research a few months back in regard to trading hourly binary adjusting the bet each time but only when certain conditions are fulfilled as in order to win the trade you would just need to predict whether the next candle was red or green... I'll give some idea to trading this technique utilizing binary and return to you on it. . .what time frames and approach are you thinking about????
Yeah I saw your articles in the Binary thread. Thats why I asked you for your comment.

I have only just found Binaries so I really don't understand what is possible but, from what I read, Binaries might give us opportunity to make similar profits whilst risking WAY LESS than spot.

I was thinking that we can exchange EXACTLY as we do here with the exception of the mm.

Needs some investigation. If anybody else has any thoughts please feel free to share them.

[hecpkmhlm]

96518Thats a dodgy trade this morning eh???

[Emllennin92]

92525Yep. . .turned to a ranging market. Waiting to see if I have to double up on the trade. . .tough to perform as it's 3:00AM here in Wisconsin.

[cmis89fv]

92525That one was a little hard...

[Giuseppeypunpk]

92525Has this been back tested? What were the outcomes?

[eslmexxageoxm1963]

92525Nice breakout, I Enjoy

Some Inquiries:
3 pubs X 5 minutes = 1 bar 15 minutes so it's The bar begin 8am and close 8.15am GMT 1 (francfurt opening) it's the same? After a order (S or B ) was executed and it's a loser however, the PA dont perform the second order the same day but the following day, we twice lot the following day?
Sorry for my bad english. I hope you know me

[hecpkmhlm]

92525
Nice breakout, I Enjoy

Some questions:
3 bars X 5 minutes = 1 bar 15 minutes so that it's The bar begin 8am and close 8.15am GMT 1 (francfurt opening) it's the same? When a order (B or S) was implemented and it's a failure but the PA dont execute the next order the exact same day but the next day, we twice lot the next day?
Sorry for my bad english. I hope you understand me

you've got the times correct. .

We twice the lots after a losing trade every times even the same day...


Blinkers...

[mafa14oke]

92525thanks for showing That technique

[sabelaguix]

92525
You have the times correct. .

We double the lots after a losing trade every times even the Exact Same afternoon...


Blinkers....
I might be wrong but, I believe I recall Cain saying that he doubles up on the SAME day as the shedding commerce. He wont up on the day.

I believe thats what he said...

[Emllennin92]

92525
I could be wrong but, I believe I recall Cain stating that he doubles up on the SAME day as the losing commerce. He wont double up on the day.

I think thats what he said.... Yep...

[alexxomg]

925251 Structure (s) I've been playing with many filters to try and prevent fake-outs... recently I look at the tendency on the H1 and just take trades in that direction... here is the previous 3 times as illustrations... I realize 3 times signifies nothing, but I kinda like the old idea of the trend is your friend
https://www.nigeriaforextrading.com/attachments/15194703881201289415.png

[ulises47]

92525
I have been playing with many filters to attempt to prevent fake-outs... recently I look at the tendency about the H1 and just take trades in that direction... here is the previous 3 days as illustrations... I realize 3 days means nothing, but I kinda like the outdated notion of the trend is your friend and indior is a....?

[eslmexxageoxm1963]

92525
Yep... I've look again a Cain display and I notice that some trade are implemented the next day (Orders die at 23.00 GMT 1 of the next day)

Watch screens 5 and 7 post 3. On pole 4 display 6 trade closes because week-end. And display post 10.

Many times I have see that we are able to win more pips (7jan-8jan buy = triumph on 8jan) and of course some looser. Some trade triumph later price retrace. Need a good MM and leverage.

On the beast, I have see many good trades too.

Now will need to backtest 3 years minimum. I trade live on oanda. I like this breakout. Need to see.

[alexxomg]

92525
and that indior is a....? Basically a moving average... changes colours to indie direction, green = up, red = down... (I got another one that's yellow when transitioning between green and red, but didn't feel that really added anything)... if you need to play it, go to properties, then enter... the default setting for interval is 80, but that's way too slow... I am currently using 21, which looks pretty good... tell me what you believe
https://www.nigeriaforextrading.com/attachments/15194703901187473975.ex4

[sabelaguix]

92525
I have look again some Cain screen and I notice that some commerce are executed the second day (Orders expire at 23.00 GMT 1 of another day)

See screens 7 and 5 . On post 4 screen 6 commerce closes because week-end. And screen post 10.

Many times we've see that we are able to win more pips (7jan-8jan buy = triumph on 8jan) and of course some looser. Some commerce triumph later price retrace. Need a fantastic MM and leverage.

On the monster, we've see many good trades too.

Now need to backtest 3 years . I exchange reside on oanda. I really...
OK, lets see if we could clean this up for ya....

The second trade of the day(whether its been dropped or not) is kept open until 23:00 on the following day when it's closed (of course if it strike sl or tp it will be shut ).

After inputting (not exiting) this instant trade, your next trade entrance will be for your standard commerce quantity and NOT doubled.

In a nut shell....your first exchange of the day is NEVER doubled.




Hope that this helps

[hecpkmhlm]

92525What the hell is happening with cable...I yanking my hair out here because its stuck in this poxy range...I believe that it may be safer not to trade this method until it gets moving again. . .come to consider it we prob shouldn't trade this manner unless trending...

[ulises47]

92525
What the heck is happening with cable...I pulling out my hair here as its stuck inside this poxy range...I believe that it can be safer to not exchange this method until it gets moving . . .come to consider it we prob should not trade this way unless registered.... Yeah I had exactly the Very Same thoughts today, I only demoed this day, luckily

[Isabelaq95]

92525
What the hell is happening with cable...I pulling out my hair here because its stuck in this poxy range...I believe that it may be safer not to exchange this method till it gets moving . . .come to think of it we prob should not trade this way unless registered.... That I tend to agree fx,I've nearly a stomach full of the for the time being,likely be a first commerce winner in the morning,in an hour,understood my fortune.

[hecpkmhlm]

92525
I often agree fx,I have almost a belly full of the for now,likely be a first trade winner in the early hours,in one hour,understood my luck. Hey Arrow,

I see you are currently a Jacko team member...I am in the process of joining myself... Have you been a member for long and just how can you find it??? How I see it, he seems to be pretty highly considered in here so for the sake of the couple dollars charge for the year surely it can't hurt to have someone to direct us on through this fx minefield....whats your experience with Jacko????

[sabelaguix]

92525Cheer up men

It was a bad day for us but hey, we know its gonna happen.

Still a profitable system tho.

[Emllennin92]

Cheer up guys

It was a bad day for us but we know its gonna happen.

Nevertheless a profitable system tho. What was bad about the trading session? Granted, the 1st commerce was a loss. But. . .the 2nd Trade was awakened. . .so when the price eventually reached a profit amount at 1/2 box dimensions around close-out time of 2300 or so, the 2nd trade profit offset the 1st trade loss to get a fixed-rate scenario for the afternoon. Not bad for a lousy ranging market.

This system is boss when circumstances suck. Let's make some green pips today!

What the heck happened to Cain?

[sabelaguix]

Hmmmmmm....

Not sure about today guys, I think I'd abandon it and search for a better chance on Monday.

[oxminamuuiz24]

My first post on this forum. I've discovered this thread and started demo trading using this egy. Very interesting.

My apologies if this was covered before but I didn't see it. My question is about a possible scenario where you might have two positions. According to Cain's strategy, a position will remain open till 2300 GMT following moment. Then it is possible that an opposite pending order setup another day gets triggered. You have two positions.

I might have missunderstood something here, or even then has that happened to any of you? What should you do in this case, or you accept it?

Thanks

Z

[sabelaguix]

My very first article on this forum. I have discovered this thread a couple of days back and started demo trading employing this egy. Quite intriguing.

My apologies if this was covered before but I did not see it. My query is about a possible situation where you might have two opposite positions. According to Cain's strategy, a position will stay open until 2300 GMT next moment. Then it's possible that a reverse pending order set up another day becomes triggered. Hence you have two opposite positions.

I might have missunderstood something , or even then...
Hi there and welcome to Cains behalf.

You're indeed accurate. It's possible that until your first trade is finished, the second trade is going to be triggered.

But your SL for the very first transaction is at(or very near) the second entrance point.

Thus, your very first trade will always be exited at the sametime as you enter the second trade.


BTW its very worthwhile reading the whole thread begin to finish. It'll answer a lot of questions and provide you a better comprehension of the system.

[hecpkmhlm]

Here we go. . .Entered brief at 6298... could be a bit iffy as not with the long term trend but rules are rules eh!!!!!!!!!! So I could jump off there I have a feeling that it could go to support on 6250/60 area. . (in case it reaches there at all) Have any of you looked at GBP/JPY as an alternative to trade when cable is similar to this??? Or perhaps even to trade side along it spread the risk. . It appears to be pretty volatile and on that range days may be a safer bet???

[sabelaguix]

FX

Where did you get 6298 as an entrance?

[sabelaguix]

Here we go. . .Entered short at 6298... could be a bit iffy as not with the long-term fad but rules are rules eh!!!!!!!!!! I have a feeling that it could go to support on 6250/60 area so I could jump off there. . (if it reaches there whatsoever ) Have any of you looked in GBP/JPY as an alternate to trade if cable is similar to this??? Or even to exchange side along it so spread the risk. . It appears to be pretty volatile too and on ranging days might be a safer bet???
I have the support at about 6245.

You're right about'the principles being the principles' you must exchange the machine as is till you've got a refinement to make.

Hope we're blessed today

[oxminamuuiz24]

Thank you . I'll go through the thread again in case I missed anything.

With respect to your aswer concerning the SL, I had been thinking of a situation such as:

On day 1, we set pending orders. Short stopped outside and gets triggered. The Long has triggered but not reaches TP therefore we let it run into following day.

On day two, we set another 2 pending orders based on the days range that is different from Day 1, for example levels between both days overlap. Then the Short is triggered. In this scenario we will have two busy but trades.

Perhaps I am more than compliing things and should just stick with the system and accept it will not be perfect. 'Rules are rules'

Thanks

[sabelaguix]

Thank you . I'll go through the thread in case I missed anything.

With respect to your aswer concerning the SL, I had been considering a situation like:

On day 1, we set pending orders. Short gets triggered and stopped outside. The Long has triggered but not reaches TP so we allow it to run into following day.

On day 2, we set another 2 pending orders based on the days range that is different from Day 1, such than levels between the two days overlap. Then the Short is triggered. In this scenario we will have two active...


Ah, I see exactly what you are discussing.

My appologies.

Some brokers will average out trades, some won't (if in precisely the exact same way ).

If in different way, I would cancel the present one and proceed with the new one.

I dont even believe we have considered this situation up to now. Big thanks for pointing out it

It's not something I would come across cos I would close out BEFORE the next box on every trade.

[oxminamuuiz24]

Many thanks.

I will do as you say and cancel before the next one is triggered.

Z

[hecpkmhlm]

Hi,

I entered in the base of my box that this morning..posted below. . .my real entry was 6298 even though my box gave me a 6296 entry. . This is only because I use MT4 for charting but my brokers (IG Index) price then was 6298...


FX

Where did you buy 6298 within an entry? https://www.nigeriaforextrading.com/attachments/1519470357366898645.png

[Emllennin92]

Blinkers,

FWIW:
I use Oanda, and I had the specific same entry point as yours @ 1.6298

[sabelaguix]

Blinkers,

FWIW:
I use Oanda, and that I had the exact same entry point as yours @ 1.6298
I am using FXCM and that I got 6295.

I have a reduced of 6297 about the 09:05 candle. Can you get triggered by this?

I see we have a winning trade again now

It looked very dodgey for some time tho. Stick with the machine....it functions!

[hecpkmhlm]

Another 59 pips at the tote. . .gonna be a good wkend... I also had a fantastic short I gonna close shortly on the eur/usd so happy days...

[alexxomg]

... Have any of you looked in GBP/JPY Instead... I've Put My Boxes up onto EUR/JPY and scrolled back to Get a visual backtest... few fake-outs and Lots of Volatile winning moves

[sabelaguix]

I have set my boxes up on EUR/JPY and scrolled back for a visual backtest... couple of fake-outs and many explosive winning moves
If any of you have a background of some other pair I really appreciate the results.

I'm peticularly interested if the outcomes are in the Kind of

WWWLWLLWWLWWWLWLLWWWW

So each W or L is a trade maybe not a day

Many thanks

[hecpkmhlm]

If some of you have a background of some other pair I truly enjoy the results.

I'm peticularly interested if the results are in the kind of

WWWLWLLWWLWWWLWLLWWWW

So every L or W is a commerce maybe not a day

Many thanks Hi,

I assume that the reason you are interested in leads to that format is for binary gambling that you said in a previous article. . Would you mind describing the approach you are taking...I am working on a few different things in the moment but the more I study fx I am starting to see how binary stakes could be very profitable using the correct staking plan and suitable bet sizes... I mean to explore this entirely as soon as I have more time and once I have something worthwhile to share I shall keep you informed. . .if you are working on gathering info on a certain pair or method allow me to know so we don't wind up both compiling exactly the same result... I have spent a little time just playing with MT4 (utilizing F12) on specific markets which are trending and fulfill certain rules of a system to forecast that the up/down market. I am getting a very large hit rate but I have never taken any of this too serious yet. But, I would be very interested in your opinion on this.... I know whenever the word'martingale' is mentioned in forum you will find associates that warn us to steer clear of it since it will gradually wash out your bankcard. . .howeverI think it depends how it's implemented... I'd never use martingale but a correctly calculated staking as used with sports gambling can surely be always profitable. . I spent a while researching sports gambling about one year ago. I understand now how little I actually knew back then about MM but I still managed to have tremendous success....until one evening I lost about fourteen days profits. The cause of this I believe wasn't entirely understanding MM and probabilities. Nowadays, every day as I learn increasingly more about trading and understanding PA I will get my mind off my prior research. Thats why I believe that you may be on to something with this particular method and gathering the results in WWLWLLWLWLL format... Am I on the ideal track here and if I'm not please ignore my rambling....

Blinkers...

[jamgem01]

Cheer up guys

It was a lousy day for us but we know its gonna occur.

Still a profitable system tho. Hi,
not profitable this month! I back test it with this month and discovered that till now, we are -120 pips; maybe it is profitable for the long run, but the previous week was a nightmare for everyone, luckily I was outside of the market from Tuesday
hope the cable will stabilize and begin trending!

cheers all

[Llcumini]

Hello,
not profitable this month! I back test it for this month and discovered that until today, we're -120 pips; perhaps it's profitable for the long run, but the last week was a nightmare for everybody, fortunately I was outside of the market from Tuesday
expect the cable will stabilize and start trending!

Cheers all of
which isn't right according to my tests. I am testing this method, though only visually, and also my results for the initial two weeks of the year is approx. 250 pips. The first week was nevertheless much better than this one, but both were profitable.

How did you perform your own tests? What broker? How are the outcomes for everybody else?
I am conducting a test between 8 and 7 GMT (the original being 7), and at 8 GMT I get results like yours. Can you use 7 or 8 GMT? For the time being, it appears like sticking into the system is easily the most profitable option (7 GMT), according to my tests.


Regards

[Javinine]

250 pips doesn't mean you are always profitable.

max

[ulises47]

250 pips doesn't mean you are necessarily profitable.

Max yeah, please post your profit or loss in % thx

[sabelaguix]

Hmmmmmm

If we utilize the same MM egy during our trading for this platform, and we are 250 pips up this month....how can we not be in profit this month?

FX

that I am looking to binaries instead for this but have done nothing about it yet. I will allow you to know as soon as I have anything.

The reason I need results in the WWLWWLLWWWL format is since I said in my first post here, I am trading this system differently with respect to MM. I dont want to hijack the thread but I will describe briefly for you.

I think that the win to loss ratio with this system, and the fact that we've got a 1:1 risk reward ratio could lend itself to some short term aggresive MM system.

For example, you could begin with #100 and risk it all, double. Then use #200 and risk it. Then use #400 and risk it twice and so forth. If you lose, go back to some level where You are risking half of your BR.

It's a Martingale system with a gap.

Had we began this in Nov, by the first week in Jan we'd have gone fron #100 to #25000 by simply trading this system and my MM ey.

And dont forget that we just risked #100 of their own money!!

So you see, I'm just interested in whether we won the commerce or not. I dont care about doubling up or how many pips we created.

I will repeat what I said earlier, that it is a short term egy, but its one that's working very well at this time.

The difficulty comes when trying to risk such a high% of your BR without obtaining a margin call. Spread betting allows us to get nearer to the amount but not it all. Binaries MIGHT let us to do.

I'm not recomending this MM system to anybody else. There's a great chance you willloose your BR.

[hecpkmhlm]

I guess it really comes down to whether or not the market is trending or stuck within a range. . .As is evident from this week we had been stuck in a range for most of it even though we managed to squeeze a few winners out of it..If we could determine early enough that cable is gon na na range for a little while it may be worth considering GBP/JPY for those few days or for this week. It is apparently a volatile pair and shifting over to exchange it at those times may be a worthwhile option. But I could be wrong.... Hove and I agree that the profitability of this system can only be quantified in% profit or loss as lot size is corrected. I reckon we must figure out a filter. I wouldn't enter before the 5 min candle has shut away from the box and as a result it has saved my bacon several times but it does mean that I have to monitor the transaction through the day...

[sabelaguix]

I suppose it boils down to whether the market is trending or stuck within a range. . .As is evident from this week we had been stuck in a range for most of it even though we managed to squeeze a few winners out of it..If we could ascertain early enough that cable is still begging na range for a little while it may be worth looking at GBP/JPY for those few days or for this week. It is apparently a fairly volatile pair and shifting over to exchange it may be a worthwhile option. But I could be wrong.... I agree with Hove that the profitability...
Can you help me understand how we could be down following a 250 pip profit with a continuous MM system please. Perhaps I want to re evaluate this since, so far as I can work out, we'd maintain profit?

You are about a filter it'd certainly help however, the results are fairly impressive without a filter.

I had an extremely quick look at EUR/JPY last night and it didnt seem so good by many false break outs. But it did seem like we may be able to filter a lot of these retraced some kind of refined filter or break outs in that area.

Incidently

If we can accurately predict a range for cable, try this:

When our entry is triggered, input in the opposite direction and tp in the other end of the box!

Many pips to be had....If we can predict the range!

[hecpkmhlm]

Hi,

For what its worth I agree with the poster that it would be possible to have a positive pip amount at the close of the month and still lose money. This is because you have 2 days where we win on the first trade and the day lose after staking a double lot. So if we were risking 3 percent each day..you may have two days winning on the first trade only where you woulod have obtained 1 1% = 2%, and lose the next day -1% - 2% = -3%. The amount of pips aren't vital as risk is quantified in terms of%. .so it would be possible to be optimistic pips and lose...

The result have been really impressive for Nov and Dec but long term could be different so IMHO I feel that a filter or discretion is required...

Additionally, I mentioned to check out GBP/JPY and not EUR/JPY. .may it was a kind error in your article but perhaps take a look at this pair. The eur/jpy doesn't seem to be volatile for this method thus a GBP pair would be better satisfied. .

I will take a look at your proposal as I was thinking the same myself this week however I suoppose the trouble is determining if cable is clicked and never trending. . I must go out now but I would like to talk to you more about your plan mentioned in your earlier post. I have a couple ideas that are not to do with this method that could well be applied to a plan... I will be in contact with you later....

Blinkers....


Can you help me know the way we can be down after a 250 pip gain with a constant MM system please....

[sabelaguix]

[quote=fxblinkers;3371870]Hi,

For what its worth I agree with the poster that it would be possible to have a positive pip amount in the end of the month and still lose money. This is because you maigh have 2 days where we win on the initial trade and the day drop after having a double lot. If we were risking 3 percent each day..you may have two days winning on the initial trade just where you woulod have gained 1 1% = 2%, and shed the next day -1% - 2% = -3%. The amount of pips are not vital as risk is measured concerning%. .so it would be possible to be positive pips and shed...

quote]

Ah I seeI had been assuming a consistant trading amount. When we martingale then of coursewe could lose whilst gaining pips. Sorry for my confusion.

I stated about EUR/JPY simply cos I just happened to look at it last night. No motive.

I've been attempting to filter cable for a while now but come up with nowt really. It could indicate a MASSIVE difference with my MM if I will filter even 2 or 3 transactions a month. A consistant filter would be better with Cains system.

See ya later

[Javinine]

The box size changes, 1 day it can be 10 pips, the subsequent 100, nevertheless the win / lose value is still the same - ie if you lose you lose 2.5%, should you win you win 2.5% whatever the amount of pips traded.

Trade 1 100 pips = 2.5%
2 -10 = -2.5%
3 - 15 = -2.5%
4 50 2.5%
5 -30 = -2.5%
6 80 = 2.5%
7 -40 = - 2.5%
8 -12 = - 2.5%
9 140 = 2.5%
10 - 13 = -2.5%

There you go, plus 250 pips, - 5 percent. You should be trading a % of your balance per transaction.

Max

[Emllennin92]

Incidently

If we can accurately predict a range for cable, do this:

When our entry is triggered, input the opposite direction and tp at the opposite end of the box!

Many pips to be had....If we can predict the range! Sorry. . .this is uncertain to me. . .please elaborate.

Thanks,
BC

[sabelaguix]

Sorry.. .this is uncertain to me. . .please elaborate.

Thanks,
BC
When we can say it won't trend today but range rather, then when our entrance is triggered (state, sell) we would buy and see it reverted to our other entrance point that has gotten our tp.

Basicly, trending market trade outside the box, ranging market trade inside the box.

But....and this is a HUGE however, we have to accurately predict whether it will fad or range.

[hecpkmhlm]

Hi guys,

I assume that we could have supposed that there was an opportunity we'd range this week cable as we approached the 50 percent fib retracment on the daily. The more I look at it the more it jumps off the screen . In hindsight when I was doing my homework correctly I should not have exchanged the BO as price approached the 50 fib. As for myself I will make it a point to inspect the bigger picture every day to determine whether or not to take the trade or perhaps exchange an equally explosive pair for that period until the daily breaks out of obvious SR or major round numbers and significant fib lines. Perhaps then there is a possibility to improve risk in terms of lot size alongside increased probability of a win.... With a little more research this could wind up being a process of trading. . .especially when we use the entry as is and research ways exiting with a higher RR ratio... Apologies if I am getting too far off from the core procedure.... Any indication of Cain anywhere...I wouldn't mind his input to this....

Blinkers...

[jamgem01]

This is not right according to my tests. I am forward testing this method, though just visually, and my results to the first two weeks of the year is approx. 250 pips. The first week was nevertheless much better than this one, but both were profitable.

How did you perform your own evaluations? What broker? How are the outcomes for everybody else?
I am conducting a test between 8 and 7 GMT (the original being 7), also in 8 GMT I get results like yours. Can you use 8 or 7 GMT? For today, it seems like sticking to the system is the most profitable option (7 GMT),...
Hi Archie,
I am using Boston system (MT4); the MT4 time is one of New York;
I am using the candles of 7:00, 7:05 and 7:10 GMT
I did a visual rear evaluation; added that the spread for the long, awakened if the first was a loser, shut the pending trades next day at 23:00; buffer equal 10 pip; SL equal square height 10 pip buffer; TP equal Square height 10 pip buffer;
as example for Friday:The box dimension is 41pip Short commerce: Entry in 1.6296, TP in 1.6245, SL in 1.6347 Long commerce: Spread equal 3 pip: Entry in 1.6359, TP in 1.641, SL in 1.6308 Please correct me if I do something incorrect

Here are my results for January 2010:

04/01: -23pip / 23pip / 23 pip -- Total: 23pip
05/01: 47 pip -- Total: 47 pip
06/01: 31pip / -31 pip -- Total: 0 pip
07/01: -41pip / -41pip / -41pip -- Total: -123 pip (the twice up commerce closed the next day)
08/01: 23 pip -- Total: 23 pip
11/01: 50pip /-50pip -- Total: 0 pip
12/01: -48 pip / 48pip / 48 pip -- Total: 48 pip
13/01: -27pip / 27pip / 27pip -- Total: 27pip
14/01: -36pip / -36pip / -36pip -- Total: -108 pip
15/01: 51pip -- Total: 51 pip


Total for today equals -12pip
so for the time when I posted earlier, we had been -63 pip (sorry for the visual error people ), and today due to a good Friday, we're in -12pip.

Expect both coming months will be much greater

Cheers

[jamgem01]

I guess it really comes down to whether the market is trending or stuck within a range. . .As is evident from this week we were stuck at a range for most of it though we managed to squeeze a few winners from it..If we could ascertain early enough that cable is begging na range for a while it may be worth looking at GBP/JPY for those few days or for that week. It is apparently a pretty volatile pair and shifting over to trade it at those times may be a worthwhile option. But I could be wrong....
Hi,
can you please elaborate?
Do you mean that you're placing you order at 7:20 GMT?
Using this technique and just did a visual check up, I couldn't see how It's Going to be beneficial for us, since the 7:20 GMT candle rarely triggered a commerce

thank you

[Llcumini]

The box dimensions varies, one day it can be 10 pips, the subsequent 100, however the win / lose value remains the same - ie if you lose you lose 2.5%, if you win you win 2.5percent irrespective of the number of pips traded.

Trade 1 100 pips = 2.5percent
2 -10 = -2.5percent
3 - 15 = -2.5percent
4 50 2.5percent
5 -30 = -2.5percent
6 80 = 2.5percent
7 -40 = - 2.5percent
8 -12 = - 2.5percent
9 140 = 2.5percent
10 - 13 = -2.5percent

There you go, plus 250 pips, - 5%. You ought to be trading a percent of your balance per trade.

Max
Hi,

Yes I agree that just the amount of pips doesn't show if the system is profitable or not. But demonstrating the gains does demonstrate a system because the percentage also reflect the amount/lots risked. Few winnings can cause A using a high amount risked, and earnings in% must therefore be presented with your risk%.

After introducing my results I was a bit quick, because I didn't explain I have calculated the amount of pips in connection to the lots risked. The trade equals one unit and the outcome is equivalent to the amount of pips earned or lost. Another trade following a loser is equivalent to 2 components, and will consequently impact my pip equilibrium with the quantity. I'm aware that this manner of presenting the outcome isn't really right (because it's not really actual pips I'm counting), but I have found it the best way for me personally, because I need to value the system regardsless of the actual amount risked. Because I calculate results like this, I didn't reflect this in my last post over.


Regards

[Llcumini]

Hi,
I am using Boston system (MT4); the MT4 period is your among New York;
I am using the candles of 7:00, 7:05 and 7:10 GMT
I did a visual rear test; additional the spread for the lengthy, awakened in case the first was a loser, shut the pending transactions following day at 23:00; buffer equivalent 10 pip; SL equivalent square height 10 pip buffer; TP equivalent Square height 10 pip buffer;
as instance for Friday:
[list] the box size is 41pip Short trade: Entrance 1.6296, TP in 1.6245, SL in 1.6347 Long trade: Spread equivalent 3 pip: Entrance 1.6359, TP in 1.641,...
Hi,

I see that you have calculated your results nearly like I have, however the complete differ a lot, and I really don't understand why. This is sometimes due to different brokers, quotes etc.. I have been quite careful when prices just touched my TP/SL and always calculated with all the worst result. In any event, here are my results in the same type as yours, not taking into account the amount risked, and doubling the pips once doubling the order.

04/01: -33/ 33/ 33 -- Complete: 33
05/01: 55,4 -- Complete: 55,4
06/01: 40/-40 -- Complete: 0
07/01: -52,4/ 52,4/ 52,4 -- Complete: 52,4
08/01: 29,2 -- Complete: 29,2
11/01: 57,2 -- Complete: 57,2
12/01: -55,9/ 55,9/ 55,9 -- Complete: 55,9
13/01: -38,9/ 38,9/ 38,9 -- Complete: 38,9
14/01: -44,8/-44,8/-44,8 -- Complete: -134,4
15/01: 58,6 -- Complete: 58,6

TOTAL: 246,2


Regards

[hecpkmhlm]

Hi..

I'm not exactly sure what your issue is as I never discussed anything about placing a trade at 7.20am in my own posts. . .However, you may have misunderstood what I said 5min candle closes, about entering. What I meant is that I enter when a 5min candle closes out my BO box. When the same thing occurs on the side I only activate my stoploss. Its surprising how many times that this will stop us from getting into breakouts and from losing trades. I know we sacrafice a few pips however they are easily won back this manner....


Hello,
can you please elaborate?
Do you imply that you are placing you order at 7:20 GMT?
With this method and I just did a visual check up, I could not see how It's Going to be beneficial to us, because the 7:20 GMT candle rarely triggered a trade

thank you

[jamgem01]

Hello,

I see you have calculated your results almost like I have, however, the complete differ a lot, and I really don't know why. This can be because of different brokers, quotes etc.. I have been quite careful when prices only touched my TP/SL and constantly calculated with all the worst outcome. In any event, here are my results for the initial two weeks, in the same type as yours, not taking into account the amount risked, and doubling the pips when doubling the second order.

04/01: -33/ / / 33/ / / 33 -- Total: 33
05/01: 55,4 -- Total: 55,4
06/01: 40/-40 -- Total: 0
07/01:...
Hi Archie,
I could see why:
on the 7th of Jan, you have considered the doubled trade for a winner while it is a failure one. The cable fell down to maximum 36 pip down of the box and then retracted back to shut the doubled commerce as a looser (it should have dropped for at least 41 pip to shut it as a winner)
additionally on the 11th of Jan, you did not enter the second trade which was -50 pip

cheers

[jamgem01]

Hello..

I'm not exactly sure what your issue is because I never said anything about placing a commerce at 7.20am in my posts. . .However, you may have misunderstood what I said about entering 5min candle closes. What I meant is that I just enter when a 5min candle closes out my BO box. I also just trigger my stoploss when the exact same thing happens on the opposite side. Its surprising how many times that this will prevent us from becoming into false breakouts and additionally from losing trades. I know we sacrafice a few pips but they are easily won back... it looks like I miss understood you
clear today, thank you; it looks like a pretty filter

cheers

[Llcumini]

Hi,
I will see why:
about the 7th of Jan, you have thought the triple trade as a winner whenever it is a loser . The cable dropped down to max 36 pip from this box and retracted back to close the doubled trade as a looser (it should have fallen for 41 pip to close it like a winner)
also on the 11th of Jan, you didn't enter the next trade which was -50 pip

cheers
Hi again,

I've re-checked my charts and according to them it is correct. I double up even on the next day. I really don't know when this is after the original rules, but I have found it profitable. About the 7th Jan the initial order (sell, not a buy order) was a loser, I doubled up and the next day the impending buy was triggered and reached its TP. About the Jan the buy strike the sell and on its TP wasn't triggered with my broker. Your broker have various quotes.


Regards

[sabelaguix]

Hi guys! I am back! I dropped my pc, and more incredibly... I had been murdered. So I couldn't access my email accounts or my FF account. So I chose to create a new account for security reasons, I'll ask the moderation group to block my old user, today I am Cain_!
Interesting to see so many people around here, I will ch up as soon as I can!


Happy pips!
Sorry to hear about your woes

Good to have you back tho