Advanced system #4-a (London GBPJPY breakout)

Stuart, the three GMT's on your windows time zone represent the same thing. You can choose any one and get the same time. To make things easier, what I have done on my computer is having multiple clocks(this is available with VISTA, im not sure of XP) one clock reads my local time and the other read GMT, and another reads GMT+2. I hope this helps.

Hi Stuart/Edward/All

Has anyone tested this strategy on other currency pairs?

Can this possibly be used with GBP/USD as this has a strong correlation with GBP/JPY?

Also has anyone actually tested this for a good period of time. I,e 2 or 3 months plus?

I am experimenting with 3 or 4 breakout strategies and all are very similare with slight variations. I am trying to be patient with testing as I dont believe you know if it works until you have run this over a long period of time certainly not a few days or weeks. Any help will be appreciated but I will start to test this as well as other similare strategies.

I think this is a good method but just think that my stops are too far out sometimes and I dont get the risk to reward setup when i enter, well at least for me and my personality!

Site is fantastic Edward, Thanks.

Sunny

Thank you, Sunny!

To use the strategy for GBPUSD you'd need to lower the profit goal level to about 60-80 pips.

Like any breakout methods, this one only requires some statistics, which can be basically done by looking back at past performance.

I haven't had a chance to test this system over several months, the load of strategies on the website nowadays keep me very busy.

Regards,
Edward

Hi Edward, I have come across something quite interesting by mistake. I have been trading this strategy for a past couple of weeks but instead of using close of 7:59GMT close of hourly candle I had been using 8:59 gmt close. Even though i had been using the incorrect four candles I was able to catch 60+ pips on most days. My question is can we in conjunction with your strategy also place an entry order on the close of 8:59gmt if the first order is going our way. I think this might be quite a good way to compound our gains if our first entry is in plus column. Your suggestions would be quite appreciated.
Thanks Umair

That would be the right thing to do, Umair.
If the trade goes your way, adding to it one hour later can increase gains. Just make sure to adjust profit goals.
Thank you for a good point, it is worth trying!

Best regards,
Edward

hello I just can't Understand What you mean and what you are Trying to do on this Pair..

Please leave a Mail to me , xiaozhang21[at]yahoo.com

So please

xiao

Hi Xiao,

Where exactly, what comment or expression caused difficulties for you?
Thank you.

Edward

Does anyone know where i can get time zone clock as indicator so it always shows me the different time and opening ours for othr markets. I have seen some screen shots on this site containg same info but cannot seem to find it any where on the net

R
Barry