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EUR/USD Breakouts
Členom od Oct 09, 2012
11 príspevkov
Oct 11, 2012 at 10:55
Členom od Oct 09, 2012
11 príspevkov
HI, is there somebody who trade breakouts on EUR/USD H1 grafs?
...forex is the game, so play, win, lose, but never give up...
Členom od Jan 14, 2010
556 príspevkov
Oct 13, 2012 at 11:06
Členom od Jan 14, 2010
556 príspevkov
Mikeman80 posted:
HI, is there somebody who trade breakouts on EUR/USD H1 grafs?
Yes, I like to trade breakouts from 30 minutes to 4 hours charts. Care to share some screenshots of your setups?
Členom od Oct 09, 2012
11 príspevkov
Oct 14, 2012 at 19:26
Členom od Oct 09, 2012
11 príspevkov
OK here is last week 40.
It was breakout weekend (28-30.9)
High - 1,2850
Low - 1,2804
buy stop on 1,2852. (high +2pips)
sell stop on 1,2804. (low)
It was breakout weekend (28-30.9)
High - 1,2850
Low - 1,2804
buy stop on 1,2852. (high +2pips)
sell stop on 1,2804. (low)
...forex is the game, so play, win, lose, but never give up...
Členom od Oct 09, 2012
11 príspevkov
Oct 14, 2012 at 19:27
Členom od Oct 09, 2012
11 príspevkov
Week 41
High - 1,3025
Low - 1,3012
Buy stop - 1,3027
Sell stop - 1,3012
High - 1,3025
Low - 1,3012
Buy stop - 1,3027
Sell stop - 1,3012
...forex is the game, so play, win, lose, but never give up...
Členom od Oct 14, 2012
1 príspevkov
Oct 14, 2012 at 20:49
Členom od Oct 14, 2012
1 príspevkov
Mikeman80 posted:
HI, is there somebody who trade breakouts on EUR/USD H1 grafs?
Členom od Jan 14, 2010
556 príspevkov
Oct 15, 2012 at 07:36
Členom od Jan 14, 2010
556 príspevkov
Mikeman80 posted:
Week 41
High - 1,3025
Low - 1,3012
Buy stop - 1,3027
Sell stop - 1,3012
Those are quite different than the way I see breakouts. How are you determining the levels? As I normally draw support/resistance trend-lines and then see the levels, while yours seems to be horizontal?
Also, I don't enter simply on a breakout, but wait for a retrace after a breakout to enter the original breakout direction - this helps to filter out false breakouts and minimize risk by getting a better entry price.
Členom od Oct 09, 2012
11 príspevkov
Oct 15, 2012 at 08:12
Členom od Oct 09, 2012
11 príspevkov
Horizontal lines are only separators period in MT 4.
Becouse i am not full time trader, i can´t trade classic London breakouts so i trade some like monday breakouts.
I open only 2 trade (buy stop / sell stop) per week and then i waiting for PT or SL
Becouse i am not full time trader, i can´t trade classic London breakouts so i trade some like monday breakouts.
I open only 2 trade (buy stop / sell stop) per week and then i waiting for PT or SL
...forex is the game, so play, win, lose, but never give up...
Členom od Oct 09, 2012
11 príspevkov
Oct 15, 2012 at 08:12
(upravené Oct 15, 2012 at 08:18)
Členom od Oct 09, 2012
11 príspevkov
Sorry Horizontal lines are my S/R lines from past.
BO lines not drawn.
BO lines not drawn.
...forex is the game, so play, win, lose, but never give up...
Členom od Jan 14, 2010
556 príspevkov
Oct 15, 2012 at 13:39
Členom od Jan 14, 2010
556 príspevkov
Mikeman80 posted:
Horizontal lines are only separators period in MT 4.
Becouse i am not full time trader, i can´t trade classic London breakouts so i trade some like monday breakouts.
I open only 2 trade (buy stop / sell stop) per week and then i waiting for PT or SL
I see. What are your usual stop and take profit targets? For example, I've experimented setting the sl at the other side (support or resistance, based opposite of your trade direction) and tp double the range distance, however still haven't found the best setup. Seems like sometimes it works and sometimes it doesn't. Also, I'm thinking maybe averaging in a position, so half a position on a breakout and another half at a retrace to the breakout level - what do you think? (I can provide screen-shots to better explain if that wasn't understood :) )
Členom od Jan 14, 2010
556 príspevkov
Oct 15, 2012 at 13:45
(upravené Oct 15, 2012 at 14:03)
Členom od Jan 14, 2010
556 príspevkov
Have you also tried other symbols with this trading technique? I found GBPUSD and USDJPY working also.
Členom od Jan 14, 2010
556 príspevkov
Oct 15, 2012 at 14:05
Členom od Jan 14, 2010
556 príspevkov
Mikeman80 posted:
Horizontal lines are only separators period in MT 4.
Becouse i am not full time trader, i can´t trade classic London breakouts so i trade some like monday breakouts.
I open only 2 trade (buy stop / sell stop) per week and then i waiting for PT or SL
But have you tested London breakouts for profitability?
Členom od Oct 09, 2012
11 príspevkov
Oct 15, 2012 at 15:15
Členom od Oct 09, 2012
11 príspevkov
James_Bond posted:Mikeman80 posted:
Horizontal lines are only separators period in MT 4.
Becouse i am not full time trader, i can´t trade classic London breakouts so i trade some like monday breakouts.
I open only 2 trade (buy stop / sell stop) per week and then i waiting for PT or SL
I see. What are your usual stop and take profit targets? For example, I've experimented setting the sl at the other side (support or resistance, based opposite of your trade direction) and tp double the range distance, however still haven't found the best setup. Seems like sometimes it works and sometimes it doesn't. Also, I'm thinking maybe averaging in a position, so half a position on a breakout and another half at a retrace to the breakout level - what do you think? (I can provide screen-shots to better explain if that wasn't understood :) )
Risk for one trade is max. 5%
so SL is 50-100pips It´s depends where is nearest S/R or High/Low day or swing or EMA
PT is 100pips
I think i understand - one for sell stop and second for buy limit order?
...forex is the game, so play, win, lose, but never give up...
Členom od Oct 09, 2012
11 príspevkov
Oct 15, 2012 at 15:16
Členom od Oct 09, 2012
11 príspevkov
James_Bond posted:
Have you also tried other symbols with this trading technique? I found GBPUSD and USDJPY working also.
I know ... i am starting backtesting GBP/USD
...forex is the game, so play, win, lose, but never give up...
Členom od Oct 09, 2012
11 príspevkov
Oct 15, 2012 at 15:19
Členom od Oct 09, 2012
11 príspevkov
James_Bond posted:Mikeman80 posted:
Horizontal lines are only separators period in MT 4.
Becouse i am not full time trader, i can´t trade classic London breakouts so i trade some like monday breakouts.
I open only 2 trade (buy stop / sell stop) per week and then i waiting for PT or SL
But have you tested London breakouts for profitability?
Yes i trade EUR/USD and GBP/USP last year.
...forex is the game, so play, win, lose, but never give up...
Členom od Jan 14, 2010
556 príspevkov
Oct 15, 2012 at 15:54
Členom od Jan 14, 2010
556 príspevkov
Mikeman80 posted:
Risk for one trade is max. 5%
so SL is 50-100pips It´s depends where is nearest S/R or High/Low day or swing or EMA
PT is 100pips
I think i understand - one for sell stop and second for buy limit order?
Looks like you have a very sound trading plan with minimal risks.
Yes, one is for a sell and one for a buy - each one acts as a sl level for the other.
Členom od Jan 14, 2010
556 príspevkov
Oct 15, 2012 at 15:57
Členom od Jan 14, 2010
556 príspevkov
Členom od Oct 09, 2012
11 príspevkov
Oct 15, 2012 at 16:36
Členom od Oct 09, 2012
11 príspevkov
James_Bond posted:Mikeman80 posted:
Risk for one trade is max. 5%
so SL is 50-100pips It´s depends where is nearest S/R or High/Low day or swing or EMA
PT is 100pips
I think i understand - one for sell stop and second for buy limit order?
Looks like you have a very sound trading plan with minimal risks.
Yes, one is for a sell and one for a buy - each one acts as a sl level for the other.
yes my system is simple with minimal risks.
target for profit is minimum 7,5 % per month and 90% per year. after that i stop trading.
...forex is the game, so play, win, lose, but never give up...
Členom od Oct 09, 2012
11 príspevkov
Oct 15, 2012 at 16:41
Členom od Oct 09, 2012
11 príspevkov
James_Bond posted:Mikeman80 posted:James_Bond posted:
Have you also tried other symbols with this trading technique? I found GBPUSD and USDJPY working also.
I know ... i am starting backtesting GBP/USD
Great.
Here is how I would trade a breakout, although the sl is debatable in this setup 😄
:-) last week had nice entry for me with my WBO (weekend breakouts) ;-)
...forex is the game, so play, win, lose, but never give up...
Členom od Jan 14, 2010
556 príspevkov
Oct 16, 2012 at 09:43
Členom od Jan 14, 2010
556 príspevkov
Členom od Oct 18, 2012
1 príspevkov
Oct 18, 2012 at 08:43
Členom od Oct 18, 2012
1 príspevkov
I am a new trader...
fxbook is good..
fxbook is good..
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