Best Thread GBP/USD Breakout
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Crawsthorne
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Hi Claudia - Since I have been watching the strategy(30 Nov) you have always been able to get 25 pips + spread. Is that true in November?
Charles
Claudia123
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Yes I believe so. I still look for 20 though as quite often it gives + 20 then retraces for some reason as it did today.
bottomleyp
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Hi Claudia, with your system, are you ignoring the price action between 6am and 7am.
Claudia123
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Morning Gamma - yeah sure getting busy - wait till we hit a losing spell see what happens.
Crawsthorne
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Thanks. I guess 20 is less stressful!
Claudia123
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Just enter on the break out of the 1am to 6 am candle. Don't look at PA or anything. two lines on the chart - once one is broken buy or sell. Don't get much easier.
HawkTrader
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Hmm, have you thought about halfing your risk for the next two days? Example, you've made two trades this week at 2% risk each, so now you have 4% gained so far. For the next two morning breakouts, one of these could happen;
1) You make another 2% x 2 and finished 8% for the week. Great.
2) You lose the next trade -2%, win the one after +2%. Overall: 6% for the week.
3) You lose the next two trades at 2% each and finish 0% for the week.
Have you considered lowering risk by 50%, to 1% for example? Then even if you get two losers in the next two breakouts you'll still finish up +2%. But also if all goes to plan and you win both those too, you'll still gain 6% for the week.
How do you look at the possibility to post entry levels before the trading session?
Found some interesting issue in Big Ben strategy, that can help predict the movement in early overs. By analysing the overnight trend of related pairs like USD/JPY, EUR/USD that are traded in Asian session we can try to suggest if dollar is weak or strong. The same with GBP. Anyone tryde it? Today worked for me, but maybe it was just a lucky gees.
Found some interesting issue in Big Ben strategy, that can help predict the movement in early overs. By analysing the overnight trend of related pairs like USD/JPY, EUR/USD that are traded in Asian session we can try to suggest if dollar is weak or strong. The same with GBP. Anyone tryde it? Today worked for me, but maybe it was just a lucky gees.
foredog
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Claudia's results for November were something like 18 winners out of 20 trades. No analysing anything, I don't really see how you could beat that. Keep it simple.
trendie
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agree with foredogs sentiments.
the thing with added complexity, is that the extra analysis on the UJ, EU, etc, "could" have resulted in you passing on a trade, whereas the simple "trade the rules" would have resulted in a win.
its one of those things, about the optimum effort to reward, where any extra benefit comes at an increasingly level of effort, ie, the law of diminishing returns.
I think the GU breakout seems pretty much optimised already. the only area of potential improvement is finding some mechanism of taking more than 20 pips per shot.
I was musing how the Sniper crowd were still struggling with average of 20 or so pips over a whole days trading over several trades, while this breakout took that in the space of the morning.
Amusing, since isnt the whole point of a sniper to take a target in a single shot?
(not wanting to start an intra-thread shoot-out!!! :cheesy
neil
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People go round in circles looking for the ideal indicator or engage in paralysis by analysis. Eventually you arrive at a solution or truth - trade the price and keep it simple. This thread may go the way of others on another site. The result will be that a few traders here will keep it simple but their posts will be difficult to spot amongst the host of naval gazers. I apologise in advance for taking the thread off topic.
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gamma
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It's a good idea to keep an eye on the EURX and USDX.
for judging dollar strength.
Sniper forex 20 points all day!
Jeesus!
If I had to wait all day for 20 lousy points, would give up trading and take up real sniping at taliban terrorists in Afghanistan,Would be more fun
for judging dollar strength.
Sniper forex 20 points all day!
Jeesus!
If I had to wait all day for 20 lousy points, would give up trading and take up real sniping at taliban terrorists in Afghanistan,Would be more fun
Claudia123
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Like the guys say - we on 100% wins for December and 95% since 1 November. Why waste time trying to improve on it ? You don't even need a chart for this to be honest.
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