Best Thread Phil Newton's Range Break Out strategy

[Howlinwolf]

It's taken me 2 years to get to where I am now. And it's only now that I realise that I don't actually know as much now as I thought I did a year ago, and my results have improved as a result. :smart:

Hi,
Been reading your posts with interest, and your blog on Phil's site. When I was in the LTR (I just subscribe to the website at the moment) we were trading a version of the RnB strategy using 30 min candles alongside Phil's original breakout strategy which became the Ding Dong version while I was there. Are you still trading the RnB stategy in the room-or just the Furquad one?
David

 

[caprica1]

Hi,
Been reading your posts with interest, and your blog on Phil's site. When I was in the LTR (I just subscribe to the website at the moment) we were trading a version of the RnB strategy using 30 min candles alongside Phil's original breakout strategy which became the Ding Dong version while I was there. Are you still trading the RnB stategy in the room-or just the Furquad one?
David

Hi David, the only strategy being used at the moment is Furquad.

Thanks for taking the time to read and watch my post on the blogs I'm still a work in progress, but the improvements I've seen since doing my own videos and blog is great. Even if I'm the only one that watch's them, it gives me some good hindsight feedback on my actions, and emotions at the time.

 

[caprica1]

Little bit choppy this morning with a few trades setting up and hitting T1 and then reversing. It's been a tough day.

Nice to see some more targets being hit this afternoon though on GBP, with a more substantial move happening, and following through. Instead of threatening to make a move, then running away. Like a kid in a school fight, just rushing the other kid with his chest out shouting "come on then, come on then!" while quickly walking backwards as though afraid of being hit!

 

[caprica1]

Well what an end to a very short, but amazing week, in more ways than one. Obviously my results have been one of thsoe amazing factors. Basically traded for 2 days and 2 hours this week, and got a 3 figure return :clap:, it could well have been a 4 figure return had MT4 allowed me to place a EJPY trade on tuesday morning, but it didn't, so it wasn't.

The other part of the amazing week was the news around the world. Elections in UK, Greece wanting help with their debts (I wish I could apply for a debt bailout ), and then the strange goings on over the other side of the pond on Wall Street. The net result?....some fantastic moves and plenty of pips in the bag.

The new strategy that's been rolled out by Phil has really kicked into gear now. Getting us on trend and counter trend moves, and bagging plenty of those pips

I've just been compling my last 3 months to date results into my spreadsheet, which has been long over due, and the results are great.

March = 4 figure points return
April = 900+ points return
May (so far) = 550+ points

My plan when I set out live trading again in March, was to use 50% of my intended trading capital and not increase it until I had shown 3 continuos months positive results, then and only then, I would add the other 50% to my account. So as tempting as it is to add it now, rules are rules, and I need to hang on in there till the end of this months results.

Slowly slowly catch your monkey.

 

[caprica1]

Another week down, and put simply, the results this week have been "insane in the membrane" as the song went.

We've been really spoilt with the market conditions at the moment. The volatility has made it a very tasty time indeed, with more than average days moves done up and down in a single day on most of the trading pairs.

Everyone loves it when things go to plan, and the results seem easy. As traders, at times we have to sit through some rough patches in terms of results, where it tests our patience, and commitment, so when these good times arrive it makes it all the sweeter and god knows I'm gonna soak it up and enjoy it for as long as it lasts.

Me personally, I have now taken my May monthly returns to well into the 4 figure pip area, which is mental saying we're only a couple of weeks into May, and I'm not trading all the same pairs as some are in the LTR.

This coming week will be my last for May as I'm off diving for a week in GC. Providing the airports in the UK are open that is!

"Snatch" those pips while you can.

Happy trading

 

[trader_dante]

The new strategy that's been rolled out by Phil has really kicked into gear now. Getting us on trend and counter trend moves, and bagging plenty of those pips

I've just been compling my last 3 months to date results into my spreadsheet, which has been long over due, and the results are great.

March = 4 figure points return
April = 900+ points return
May (so far) = 550+ points

I'm a little confused. Your blog says you are winning only 50% of the time and since Jan 1st 2010, you've made £61.20?

 

[caprica1]

Hi trader_dante. What is it eactly you are confused over? May be I can try to clarify.

The live account is one I've had since I first started back in 08, but I only started trading live again in middle of March this year, so I don't know whether the mt4stats site is using the trade data from the life of the account, which would probably account for some of the trade breakdowns etc to be skewed.

I do keep a good old fashioned notebook and pen to record every trade I take and it's outcome, which will probably give a more accurate reflection of my results since March.

 

[bedsit]

I was just browsing through various threads and came across this one.
It seems like a nice thread. It's quite a long thread and I'm wondering if there were any changes to the system since the beginning and if there are any satisfied regular users


PS Thread starter seems like a knowledgeable trader. Does he post any more on this forum?

 

[bedsit]

I was just browsing through various threads and came across this one.
It seems like a nice thread. It's quite a long thread and I'm wondering if there were any changes to the system since the beginning and if there are any satisfied regular users


PS Thread starter seems like a knowledgeable trader. Does he post any more on this forum?

 

[caprica1]

I was just browsing through various threads and came across this one.
It seems like a nice thread. It's quite a long thread and I'm wondering if there were any changes to the system since the beginning and if there are any satisfied regular users


PS Thread starter seems like a knowledgeable trader. Does he post any more on this forum?

Although the strategy highlighted at the start of this thread is still a valid one, and people do still trade it, the live strategy has moved on from this now, and Phil and the LTR members and web members typically are using a different strategy.

I can say with 100% certanty that Phil is a very knowledgable guy on this subject matter, and he is actually practicing what he preaches on a daily basis for all to see the LTR...wins...loses...frustrations...all of it.

One of the best learning environment I've been involved in.

 

[caprica1]

I was just browsing through various threads and came across this one.
It seems like a nice thread. It's quite a long thread and I'm wondering if there were any changes to the system since the beginning and if there are any satisfied regular users


PS Thread starter seems like a knowledgeable trader. Does he post any more on this forum?

Although the strategy highlighted at the start of this thread is still a valid one, and people do still trade it, the live strategy has moved on from this now, and Phil and the LTR members and web members typically are using a different strategy.

I can say with 100% certanty that Phil is a very knowledgable guy on this subject matter, and he is actually practicing what he preaches on a daily basis for all to see the LTR...wins...loses...frustrations...all of it.

One of the best learning environment I've been involved in.

 

[bigjim1958]

Although the strategy highlighted at the start of this thread is still a valid one, and people do still trade it, the live strategy has moved on from this now, and Phil and the LTR members and web members typically are using a different strategy.

I can say with 100% certanty that Phil is a very knowledgable guy on this subject matter, and he is actually practicing what he preaches on a daily basis for all to see the LTR...wins...loses...frustrations...all of it.

One of the best learning environment I've been involved in.

Hi Caprica:
I have been looking at this strategy off and on for a while here and over at FX Street. I'm interested in starting to trade and of course Phil moves on. Are you still going to be trading this method and if you don't mind, could you tell me your success with it? Thanks for your time.

Jim

 

[leerees]

Guys I really don't mean to offend anyone here but phils range breakout strategy, isn't this something that we all learned as baby pippers. Most of the traders I know trade off support / resistence and range breakouts, as far as I'm aware there isn't anything else in forex that works apart from maybe gap fills and pivot points.

I think this is why so many people fail at trading, because they fail to see how simple it actually is and look for magic oscillators and indicators.

Not sure why I would pay to join a traders chat room, maybe someone can enlighten me. If ~Phil can show me how to make more pips maybe I should join, but not if it's just watching him play range breakouts day in day out.

What would be nice is an EA to trade this strategy as I find forex trading a mundane task now days. Forex just doesn't have the excitement or the chart patterns you see in the UK stock market.

 

[leerees]

Guys I really don't mean to offend anyone here but phils range breakout strategy, isn't this something that we all learned as baby pippers. Most of the traders I know trade off support / resistence and range breakouts, as far as I'm aware there isn't anything else in forex that works apart from maybe gap fills and pivot points.

I think this is why so many people fail at trading, because they fail to see how simple it actually is and look for magic oscillators and indicators.

Not sure why I would pay to join a traders chat room, maybe someone can enlighten me. If ~Phil can show me how to make more pips maybe I should join, but not if it's just watching him play range breakouts day in day out.

What would be nice is an EA to trade this strategy as I find forex trading a mundane task now days. Forex just doesn't have the excitement or the chart patterns you see in the UK stock market.

 

[Barramundi]

Guys I really don't mean to offend anyone here but phils range breakout strategy, isn't this something that we all learned as baby pippers. Not sure why I would pay to join a traders chat room, maybe someone can enlighten me.

I've only had a brief look at one of his videos, but yeah, it looked pretty straightforward. But perhaps that's why he's got a good rep.

So many trading room vendors will give fancy names to standard indicators in an attempt to make it look like they've got some unique secret that you must have, which is of course crap.

At the end of the day, successful trading boils down to trading an edge in a consistent manner, applying good money and risk management etc. The analysis side of things needn't be terribly complex.

 

[Barramundi]

Guys I really don't mean to offend anyone here but phils range breakout strategy, isn't this something that we all learned as baby pippers. Not sure why I would pay to join a traders chat room, maybe someone can enlighten me.

I've only had a brief look at one of his videos, but yeah, it looked pretty straightforward. But perhaps that's why he's got a good rep.

So many trading room vendors will give fancy names to standard indicators in an attempt to make it look like they've got some unique secret that you must have, which is of course crap.

At the end of the day, successful trading boils down to trading an edge in a consistent manner, applying good money and risk management etc. The analysis side of things needn't be terribly complex.

 

[HAL 9000]

I've only had a brief look at one of his videos, but yeah, it looked pretty straightforward. But perhaps that's why he's got a good rep.

So many trading room vendors will give fancy names to standard indicators in an attempt to make it look like they've got some unique secret that you must have, which is of course crap.

At the end of the day, successful trading boils down to trading an edge in a consistent manner, applying good money and risk management etc. The analysis side of things needn't be terribly complex.

Totally agree. Simple is working for me right now and Mr Newton helped me along that path.... cheers Phil

 

[stevespray]

Guys I really don't mean to offend anyone here but phils range breakout strategy, isn't this something that we all learned as baby pippers. Most of the traders I know trade off support / resistence and range breakouts, as far as I'm aware there isn't anything else in forex that works apart from maybe gap fills and pivot points.

I think this is why so many people fail at trading, because they fail to see how simple it actually is and look for magic oscillators and indicators.

Not sure why I would pay to join a traders chat room, maybe someone can enlighten me. If ~Phil can show me how to make more pips maybe I should join, but not if it's just watching him play range breakouts day in day out.

What would be nice is an EA to trade this strategy as I find forex trading a mundane task now days. Forex just doesn't have the excitement or the chart patterns you see in the UK stock market.

Lee,

I guess where most people fail is ‘application’ of a particular system. In your post you imply that trading is 90% mechanical and perhaps 10% individual interpretation. You mention EA’s which are obviously 100% mechanical in nature.

The problem is that, in the real world, trading for most people is 10% system and 90% emotional. Most people, especially newbies, cannot discern a 5% edge over the market. The human mind does not handle losing trades very well. As a result the system gets questioned and trades get missed. I assume that being part of a room helps this particular aspect of trading development? By being a room you might just stick with things long enough to see some positive results as the system edge plays out.

Just my two pence worth!



Steve.

 

[stevespray]

Guys I really don't mean to offend anyone here but phils range breakout strategy, isn't this something that we all learned as baby pippers. Most of the traders I know trade off support / resistence and range breakouts, as far as I'm aware there isn't anything else in forex that works apart from maybe gap fills and pivot points.

I think this is why so many people fail at trading, because they fail to see how simple it actually is and look for magic oscillators and indicators.

Not sure why I would pay to join a traders chat room, maybe someone can enlighten me. If ~Phil can show me how to make more pips maybe I should join, but not if it's just watching him play range breakouts day in day out.

What would be nice is an EA to trade this strategy as I find forex trading a mundane task now days. Forex just doesn't have the excitement or the chart patterns you see in the UK stock market.

Lee,

I guess where most people fail is ‘application’ of a particular system. In your post you imply that trading is 90% mechanical and perhaps 10% individual interpretation. You mention EA’s which are obviously 100% mechanical in nature.

The problem is that, in the real world, trading for most people is 10% system and 90% emotional. Most people, especially newbies, cannot discern a 5% edge over the market. The human mind does not handle losing trades very well. As a result the system gets questioned and trades get missed. I assume that being part of a room helps this particular aspect of trading development? By being a room you might just stick with things long enough to see some positive results as the system edge plays out.

Just my two pence worth!



Steve.

 

[tomorton]

Good observation stevespray. Even people with a system find it difficult to employ - it's not a question of how simple the system is, it's to do with how complex people are.