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I'm still getting PM's about my GJ system, so hopefully I can quash any confusion in this thread. Maybe even find someone to help me improve it..?
The basic idea is breakout, but with very specific filters. The filters are the key ( as with any method I suppose ). As you can see on the chart, I'm using the "trillion dollar days" indicator and a 60 sma. I modified the "trillion dollar days" indicator a bit and renamed it "Dans Asain Breakout". ( I just don't want folks to think I'm taking credit for the indicator ) I modified some colors and inputs, but that's it. If you install the attached Temp and indicator you can see for yourself...
My Breakout Method: I enter trades when the price touches the dotted dark blue line ( entry can be long or short ) and exit my position when the price touches the solid lite blue line. I use a 70 + spread stop on all trades. The green, pink and yellow dotted lines are: open, close and med price respectivly and they only refer to the "pre-entry" price range. I only take a trade in the direction of the 60 sma ( solid yellow line ). If the 60 sma is flat or bouncing, I leave the market alone. The GJ trends often enough, so you can be picky about your trades.
That's it. Take a look on the historical charts and let me know what you think. I've been using this method successfully for a couple years now, but I am always open to new ideas...
I'm still getting PM's about my GJ system, so hopefully I can quash any confusion in this thread. Maybe even find someone to help me improve it..?
The basic idea is breakout, but with very specific filters. The filters are the key ( as with any method I suppose ). As you can see on the chart, I'm using the "trillion dollar days" indicator and a 60 sma. I modified the "trillion dollar days" indicator a bit and renamed it "Dans Asain Breakout". ( I just don't want folks to think I'm taking credit for the indicator ) I modified some colors and inputs, but that's it. If you install the attached Temp and indicator you can see for yourself...
My Breakout Method: I enter trades when the price touches the dotted dark blue line ( entry can be long or short ) and exit my position when the price touches the solid lite blue line. I use a 70 + spread stop on all trades. The green, pink and yellow dotted lines are: open, close and med price respectivly and they only refer to the "pre-entry" price range. I only take a trade in the direction of the 60 sma ( solid yellow line ). If the 60 sma is flat or bouncing, I leave the market alone. The GJ trends often enough, so you can be picky about your trades.
That's it. Take a look on the historical charts and let me know what you think. I've been using this method successfully for a couple years now, but I am always open to new ideas...
Please could name some brokers that are compatible with the default settings
of the indicator or template? or how to adjust for other brokers?
Thanks
Chart time frame = M15 (back ground color if you care is 87.87.87)
Indicator 1 = MA, Period = 60, MA method = Simple, Apply to = Close
(line color if you care is 217.217.0)
Indicator 2 = Dan's Asian Breakout, (the following are the only values changed from the default settings) periodA_begin = 19:50, periodA_end = 00:05, nextDayA = 1, periodB_end = 17:30, nextDayB = 1, rectB1_band = 33, rectsB2_band = 92, all other value settings can be left alone...
Again, sorry about any confusion, hope this helps...
im using a 1H time frame. would it be better for me to use a 15M timeframe instead? If 1H timeframe is alright as well, can you post up what changes i need to do to the indicator? thanks a lot!
__________________
Financial freedom is what everybody wants, creating a passive income. This is what I'm hoping to achieve!
im using a 1H time frame. would it be better for me to use a 15M timeframe instead? If 1H timeframe is alright as well, can you post up what changes i need to do to the indicator? thanks a lot!
I found that the 15m works better, but like I said... I'm very open to new ideas... The 15min is a bit more "persice"... I actually watch in both 5 and 15min. If you noticed, my time filters are designed to be use with a 5 min chart...
could you post your chart? around how many trades a day do you do and what's your average weekly profit?
thanks riffster
My chart is posted above, unless you want a different time frame or...? Let me know... As far as the number of trades, I am very picky about the angle of the 60 sma, so I will end up with 2 to 4 trades per week. I had 5 once, but very rare. This method has generated about 73% winners. (about +65 pips per week on average) All you really have to do is look at a historical chart with the indicators attached. Pretty straight forward.
For me, patience was the key, learning to keep my finger off the trigger when the market was sending mixed signals.
~ Old Dog / New Tricks ~
Linear Mode
