Best Thread GBP/USD Breakout

[Claudia123]

How lazy do you want to get Claudia,
You have finished work even before anyone has started they normal 9-5.

But on a more serious note I see no great problem with using a EA considering the factors are preset to set limits.

You do have a point - but lazy is good !! It took me a week to figure out what an EA was - maybe I should learn to code. But then again buying shoes is much easier.

 

[Crawsthorne]

Are any of you clever enough to write an EA for this - I know what Gamma will say lol but with predefined entry exits it might just work being so simple. I dunno. Any thoughts?

As a first step, I have the lines drawn automatically on Proreatime or IG advanced charts. The biggest problem I see is deciding what to do if like today you need to enter very close to the actual price.

If you paste this text into a new indicator on a hourly chart it will draw the 2 lines for you at 7 am. Beware before 7 as the lines are still being calculated.

Charles

 

[Claudia123]

This is 'Claudia Robot' I take it. Good work.

 

[Crawsthorne]

This is 'Claudia Robot' I take it. Good work.

I would be good to check it next week to see that it agrees with your figures. I have it running on a 5 min chart with the spread included so I know where the orders will be but that may be overcomplicating it?

 

[Claudia123]

Why not on the hour bar as I trade? This is cool might never have to get out of bed this winter !!

Just a thought Charles - could you back test to see if it agrees with what we know.

 

[Crawsthorne]

Why not on the hour bar as I trade? This is cool might never have to get out of bed this winter !!

I have some other indicators on the 5 min which show me the speed of the move and if it is likely to take out the next support/resistance etc as well as a very tight stop loss. Altogether much more complex, but I like the simple approach!

Charles

 

[Crawsthorne]

Why not on the hour bar as I trade? This is cool might never have to get out of bed this winter !!

Just a thought Charles - could you back test to see if it agrees with what we know.

It looks good for this week as these are the only figures I have. It is fairly simple and I prefer forward testing as it shows up problems in real time. If the figures agree next week I think we can say it is ok. If you have the last months entries I can have a look, but I have to go out now so it won't be today.

Charles

 

[Claudia123]

I don't like back testing but in this case I got all the figures fore November. Be very very interesting to compare 'Claudia Robot' with actual. Will send you the numbers later. This means we can by 'System Vendors' and get loads of abuse ha ha ha.

 

[neil]

Nice clean breakout

 

[neil]

For those looking at various bars - try looking at a break of the close of the 8pm Bar for US markets - I've only looked at a few but it might be a useful method of snatching a few points per daily trade?

 

[HawkTrader]

I prefer IG. Hey Gamma you took the words out my mouth. But with 100% hit rate don't be greedy. It has to stop of course .

Hi Claudia, I was sleeping all morning so I missed all your guys great trades.

By the way, contrary to popular belief even if you are experiencing a masssive winning streak, you are actually not any more likely to lose with the next trades. You're still 25% likely to lose and 85% to win (or whatever your average win/loss ratio was).

You know, I also trade these breakouts but I take the candle wick into consideration, I really like your idea of ignoring them as we can get in earlier and take out 20 pips! Can you tell us where you came across this?

 

[foredog]

By the way, contrary to popular belief even if you are experiencing a masssive winning streak, you are actually not any more likely to lose with the next trades. You're still 25% likely to lose and 85% to win (or whatever your average win/loss ratio was).

Is that because this systems a 110% better than the rest????

(Sorry Owain couldn't resist it!)

 

[HawkTrader]

Is that because this systems a 110% better than the rest????

(Sorry Owain couldn't resist it!)

I know I know, I realized AFTER I'd sent the post, switched off the PC and walked away. No point editing it now, I already look like an idiot!

 

[Claudia123]

Hi Claudia, I was sleeping all morning so I missed all your guys great trades.

By the way, contrary to popular belief even if you are experiencing a masssive winning streak, you are actually not any more likely to lose with the next trades. You're still 25% likely to lose and 85% to win (or whatever your average win/loss ratio was).

You know, I also trade these breakouts but I take the candle wick into consideration, I really like your idea of ignoring them as we can get in earlier and take out 20 pips! Can you tell us where you came across this?

Maybe I just clever and hey do I look like a guy??

 

[HawkTrader]

Don't understand Claudia?

 

[Claudia123]

I used to take the candle wick but found from testing entry into market was earlier by ignoring it. Did you see Charles post?? He writing an EA for this.

 

[trendie]

" ..... I really like your idea of ignoring them as we can get in earlier and take out 20 pips! Can you tell us where you came across this?"

Maybe I just clever and hey do I look like a guy??

Don't understand Claudia?

I think you may have upset Claudia by implying she didnt have the brains to think this up for herself! :-0

She may well be sharpening her Jimmy Choo stilletoes to stick in you.
I'd stay clear for a day or two, mate. :cheesy:

Women, hey!?

 

[HawkTrader]

" ..... I really like your idea of ignoring them as we can get in earlier and take out 20 pips! Can you tell us where you came across this?"





I think you may have upset Claudia by implying she didnt have the brains to think this up for herself! :-0

She may well be sharpening her Jimmy Choo stilletoes to stick in you.
I'd stay clear for a day or two, mate. :cheesy:

Women, hey!?

lol, I'm sorry Claudia. Hope I haven't upset you, I may have written my post wrong. Just wanted to know how you came up with the idea of ignoring wicks/or where you heard about it is all.

 

[gamma]

Just a little something else of interest here.
Its worth a punt trading the previous days high low if you are going with the trend.

 

[Claudia123]

Just a little something else of interest here.
Its worth a punt trading the previous days high low if you are going with the trend.

Another one is the opening on Sunday - cable can open 50 or so up or down.