Boxed GBPUSD

Pervaz · #1 (**permalink**) 06-18-2007, 09:28 AM

This is my first journal. This is a modified breakout strategy which I use on a daily basis, usually on GBPUSD, and set .

These are pre-est at the start of trading usually 6am when I get up.

There are 2 take profit targets. The first TP at 10 pip 1.9788, second 1.9809.

There is a potenital to run another lot at the third profit target but these needs descrationary, as i do not have a perfect target. I will try to add a chart (but havent technically managed to do it yet !)

Both targets taken today

(I wonder if i can use an indicator to call a script to automate these targets -mmmmmmmm)

Nordic12 · #2 (**permalink**) 06-19-2007, 02:01 PM

Good idea on the boxes and breakout.

Do you have a chart you can show us ?

I cant help on the indicator to EA quesion

Kalenzo · #3 (**permalink**) 06-19-2007, 02:35 PM

Quote:

Originally Posted by Pervaz

This is my first journal. This is a modified breakout strategy which I use on a daily basis, usually on GBPUSD, and set .

These are pre-est at the start of trading usually 6am when I get up.

There are 2 take profit targets. The first TP at 10 pip 1.9788, second 1.9809.

There is a potenital to run another lot at the third profit target but these needs descrationary, as i do not have a perfect target. I will try to add a chart (but havent technically managed to do it yet !)

Both targets taken today

(I wonder if i can use an indicator to call a script to automate these targets -mmmmmmmm)

Here this should help you a little bit. I just modified one of my indicators to help you with visual backtest of your idea.

aelimian · #4 (**permalink**) 06-19-2007, 05:23 PM

Quote:

Originally Posted by Pervaz

This is my first journal. This is a modified breakout strategy which I use on a daily basis, usually on GBPUSD, and set .

These are pre-est at the start of trading usually 6am when I get up.

There are 2 take profit targets. The first TP at 10 pip 1.9788, second 1.9809.

There is a potenital to run another lot at the third profit target but these needs descrationary, as i do not have a perfect target. I will try to add a chart (but havent technically managed to do it yet !)

Both targets taken today

(I wonder if i can use an indicator to call a script to automate these targets -mmmmmmmm)

Please can you explain the strategy in more details.

ns_karthik · #5 (**permalink**) 06-19-2007, 06:00 PM

looks good mate...

Pervaz · #6 (**permalink**) 06-19-2007, 08:23 PM

Bit of a lacklustre day

I broke even.

The first TP was not hit (missed by 4 pips) so the breakeven was hit.
The second breakout occurred and hit 2nd TP (25pips)

Total = 0

Im trying to attach aa pic

dargane · #7 (**permalink**) 06-19-2007, 08:30 PM

I was just curious. Are you using Darvis Theory? It would be great if someone could create an indicator for MT4. I use it on another stock program I have, but would have no idea how to program it.

dargane · #8 (**permalink**) 06-19-2007, 08:41 PM

I just ran a search on Darvas and found a thread on Darvas theary. Chack it out and see if it's similar to what you are trying to do.

Pervaz · #9 (**permalink**) 06-19-2007, 09:23 PM

Hi

Ive not used Darvas boxes - just the high and lows of the previous night of trading to identify the support and resistance.

Pervaz · #10 (**permalink**) 06-20-2007, 08:43 AM

HI

I think I need ot change my build (im on 206) and it is really slow for some reason

Todays stats are:

BUY at 1.9888, with a stop at 1.9863, first TP at 1.9898 2nd at 1.9917