1400-1600 GMT USD Breakout Strategy - page 14
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inzider....
you have to apply the indicator three times, just change the #2 number setting.
andee one last request if possible. i have attached my template and my broker time frame is gmt +0. is it possible to see the last instance on sunday pm only? is there a way to change my current settings or maybe modify one last time? thanks for your help. michael
Ea
Hi guys can anyone try this EA and see if its profitable?
I have backtested and seems not good, tried many configurations and the EA looses on all of them.
Maybe the backtest isnt good and we need to forward test, i start tomorrow since time already pass when i finished the EA.
Any improvements drop a line.
Help with making trade
Hi All
I'm new to Forex but I'm very interested in this strategy. I'm not sure I know how to place the trade I want. I work from 9:00 AM in New York and so I don't have a lot of time But what I'd like to do is this. Also, thr time zone issue - do I make it 7:00 - 9:00 and time zone zero?
Take any pair EU say and put in 2 trades one long and one short BUT only after the trade crosses the high or low with a TP of say 20Pips and a STOPLOSS? if that's the right term - I don't want it to retrace beyong the entry of the trade.
If anyone would be kind enough to tell me how to do this I would appreciate.
Thanks in advance for you help!
Mr Chips
Recommend GBPUSD
Mr Chips,
I recommend trading cable as this pair seems to work the best. You must adjust your opening times to your brokers server time. I recommend trading the London and NY open. You can trade closes too, but i have had mixed success with that.
Please re-read the first post again if you are unclear. Do not try to add anything to this strategy until you familiarise yourself with the basic principle (i.e. London and US produces the most amount of activity within a timeframe of just before and just after open times).
I personally have been trialing this method successfully on demo and will take this live next week as it appears to be quite stable. I trade the 2hours after London and US opens, however, others use 1hour before and 1 hour after.
You may also like to try this with USDJPY at US and Tokyo open, but this requires a little more knowledge as to how that pair works.
You may also want to try the Old Dog Strategy and Dolly as they too are breakout methods. I am a massive fan of the breakout strategy as they are very simple to implement.
To assist in the strategy presribed here, I recommend you download and use the excellent ant-GU indi located in this thread.
If this is your first time out, try everything on demo first, do some research on whatever currency pair you intend to trade, read the forums on this site and don't give up the day job until you have minimised your losses to that which you are comfortable losing.
Happy trading!
Time Zone Question
Thanks for your help Limstylz but I was asking HOW to place the order in MT4. I'm not sure how to do it.
"I'm new to Forex but I'm very interested in this strategy. I'm not sure I know how to place the trade I want. I work from 9:00 AM in New York and so I don't have a lot of time But what I'd like to do is this. Also, thr time zone issue - do I make it 7:00 - 9:00 and time zone zero?
Take any pair EU say and put in 2 trades one long and one short BUT only after the trade crosses the high or low with a TP of say 20Pips and a STOPLOSS? if that's the right term - I don't want it to retrace beyong the entry of the trade."
=============================================
Next Question, I live in New York, How do I set The time zones. For this week NY is -4 GMT and next week it goes to -5 GMT. I notice that when it's 7:00 AM - 9:00 AM here that it's 11:00 AM - 1:00 PM on chart and I've already missed a large breatout.
How do I set the time zone - Sorry to be so THICK BUT I need someone to explain. Thanks in advance for your help.
Mr Chips
Thanks for your help Limstylz but I was asking HOW to place the order in MT4. I'm not sure how to do it.
Apologies Mr Chips, I didn't follow you. You need to open a new order and do the following:
Place a buystop at the highest point of your 2hr window with a stoploss at the lowest point.
Place a sellstop at the lowest point of your 2hr window with a stoploss at the highest point.
This will give you 2 pending trades. Please re-read the 1st post for further clarification.
Next Question, I live in New York, How do I set The time zones. For this week NY is -4 GMT and next week it goes to -5 GMT. I notice that when it's 7:00 AM - 9:00 AM here that it's 11:00 AM - 1:00 PM on chart and I've already missed a large breatout. How do I set the time zone - Sorry to be so THICK BUT I need someone to explain. Thanks in advance for your help.
Please use the ant-gu breakout indi located in this thread. Off set using 4hrs (difference between your time (7am) and your broker time (11am). Next week, you will need to adjust for GMT if your broker does not. If your broker makes the change then you need do nothing with the indi.
For market opening times, please check here: Forex Market Hours - Forex Market Time Converter
Hope this helps
Much Clearer
Thanks for your help. It was simple question BUT when it's new everything is difficult.
I appreciate your help!!!
build 220
since my upgrade to build 220 this indicator has stopped working? anyone know a fix?
you need lo download it again
Brazenmichael,
Download it again and put it back in the folder... that should do it.