Best Thread GBP/USD Breakout

foredog said:
Short at 16249, break of the low of 6am candle. Took +15 when price stalled at 16230 level. Maybe could've stayed in and waited as did drop another 10-15 but quite happy to bank +15 rather than sut and watch it retrace to Breakeven.
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I took that trade also. Short 16253.6 closed 16240.9 for what I though was an inter-range position. Gave some back short 16217 closed 16226.5 for what I deemed to be the break. Doesn't matter today though, started dating my new Turkish girlfriend over the weekend. I'm on cloud 9,10 and 11 this morning.:D (Had to get that great news in)
 
FormulaOneFan said:
Tenapenny, yes. It usually works like that but not all days are same. This is the best and simple strategy and I will use it as long as I can.
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:clap:

That's exactly what I've been getting at. Don't expect this to last forever. London opening breakout is as old as the hills but you have to adapt. Big Ben as written does not work any more and hasn't done for a long time as it was based on a fakeout either way which doesn't tend to happen now.

What's far more interesting is how you adapt the strategy over time to continue working. Otherwise what are we left with? A forum littered with strategies and half truths that perhaps once worked with 10s to hundreds of replies from greedy little piggies. In the future a newbie may look on this thread, go , 'wow the holy grail' and proceed to lose their shirt because no-one around here seems to have the balls to question anything anymore, and when they do are shouted down.

I won't hand around for the childish retort but tell you what guys. When the strategy stops working and you lose most of your gains, send me a PM, then we'll stat looking at how we change the system so it works again because that when it gets interesting.
 
nunrgguy said:
:clap:

That's exactly what I've been getting at. Don't expect this to last forever. London opening breakout is as old as the hills but you have to adapt. Big Ben as written does not work any more and hasn't done for a long time as it was based on a fakeout either way which doesn't tend to happen now.

What's far more interesting is how you adapt the strategy over time to continue working. Otherwise what are we left with? A forum littered with strategies and half truths that perhaps once worked with 10s to hundreds of replies from greedy little piggies. In the future a newbie may look on this thread, go , 'wow the holy grail' and proceed to lose their shirt because no-one around here seems to have the balls to question anything anymore, and when they do are shouted down.

I won't hand around for the childish retort but tell you what guys. When the strategy stops working and you lose most of your gains, send me a PM, then we'll stat looking at how we change the system so it works again because that when it gets interesting.
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Of course, but you are saying that because this method has a win rate of +80% and hasn't shown any inconsistency it's probably going to fail soon and we should tinker with it?

Sure, do something when it shows signs of failing, but why tinker with a perfectly good method now? :innocent:
 
There is no "Holy Grail" and of course as time goes by, we have to "adapt or die".
 
Just a quick note the price is currently at the 50% pullback fib
 
nunrgguy said:
:clap:

That's exactly what I've been getting at. Don't expect this to last forever. London opening breakout is as old as the hills but you have to adapt. Big Ben as written does not work any more and hasn't done for a long time as it was based on a fakeout either way which doesn't tend to happen now.

What's far more interesting is how you adapt the strategy over time to continue working. Otherwise what are we left with? A forum littered with strategies and half truths that perhaps once worked with 10s to hundreds of replies from greedy little piggies. In the future a newbie may look on this thread, go , 'wow the holy grail' and proceed to lose their shirt because no-one around here seems to have the balls to question anything anymore, and when they do are shouted down.

I won't hand around for the childish retort but tell you what guys. When the strategy stops working and you lose most of your gains, send me a PM, then we'll stat looking at how we change the system so it works again because that when it gets interesting.
Click to expand...

thats a very good post. I am reminded of the hans123 breakout method, that seemed to do well, then petered out. this method, in Claudias format, has come back into vogue.

however, I suspect that the followers of this thread will automatically evolve this method should it appear to lose its edge. I think the cross-section of this crowd acknowledges individual variances, and embraces differences, rather than shouts down.
it will be the newbies that get frustrated easily. but thats always the case.

but, as you say, it does require the occasional contrarian voice to prevent people getting complacent.

childish retort: stop being so negative. dont criticise this method until you have walked a mile in Claudias thigh-high boots with 6-inch stilletoes. (have I just let slip some weird fantasy? :eek:)
 
nunrgguy said:
:clap:

That's exactly what I've been getting at. Don't expect this to last forever. London opening breakout is as old as the hills but you have to adapt. Big Ben as written does not work any more and hasn't done for a long time as it was based on a fakeout either way which doesn't tend to happen now.

What's far more interesting is how you adapt the strategy over time to continue working. Otherwise what are we left with? A forum littered with strategies and half truths that perhaps once worked with 10s to hundreds of replies from greedy little piggies. In the future a newbie may look on this thread, go , 'wow the holy grail' and proceed to lose their shirt because no-one around here seems to have the balls to question anything anymore, and when they do are shouted down.

I won't hand around for the childish retort but tell you what guys. When the strategy stops working and you lose most of your gains, send me a PM, then we'll stat looking at how we change the system so it works again because that when it gets interesting.
Click to expand...

Then, eventually conditions wil change again and the adapted version will need some readjustments to be re-adapted....and so on and on

In the meantime let's trade it while it works as is, no?

No need to lose most of the gains, particularly if, like Claudia, you've been trading this for a year with 80% success rate. The strategy, as we all now, allows for a maximum 20 pip per day loss (which so far, in Claudia's case, happened less than 20% of the times)
 
We await the nuns improved strategy with baited breath. Assume be posting lives calls in the morning.
 
Well I took todays short and just took a loss. The first loss I've experienced.

Possibly something to do with the CPI out later this morning at 9:30 and price is just bouncing from S and R until the release.
 
A little early on a Long 16287.9 closed 16307.3 . Slightly higher R/R on this one. Balance looking good
 
why take short when it is so close to daily pivot? I was waiting for it to break. It looks like another day of no trade unless it breaks clear before 8am. That's three in a row of no trade.
 
Does anyone else have the long entry around 309. For some reason I had 290 hence the Long position
 
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