Thursday Breakout
Page 1 of 842 12 LastLast
Results 1 to 10 of 13

Thread: Thursday Breakout

  1. #1
    Here's a really easy system without any indiors that will generate maximum. 1 trade weekly and pair. Please forgive me if something has been posted.Use a daily chart with GBP/USD, set into central european time (that is what I use, I do not understand how other time zones effect the outcome) Once thursday's bar has finished, determine your position size based on that pub's range (the range will become your risk). Input a stop buy order one pip high and a stop sell order one pip below the low of thursday cost. A few minutes before friday's close, cancel all open orders and close any open position. The attached screenshot shows blue rectangles which specify thursday's range. I did insert them just on the range, but you should find the picture. Then there's no trade, if produces an bar. On an external day, you lose thursday range. A profit happens if friday is not an day and closes outside thursday's range.

  2. #2
    Quote Originally Posted by ;
    Here is a really easy system with no indiors that will generate max. 1 trade per week and pair. If something has been submitted, please forgive me.Use a daily chart with GBP/USD, place into central european time (that is what I use, I do not understand how other time zones effect the outcome) Once thursday's pub has completed, determine your position size based on that pub's range (the range will be your risk). Enter a cease buy order pip high and also a stop sell order one pip under thursday's low. A few minutes before friday's shut, cancel all orders and close any open position. The screenshot shows blue rectangles which specify thursday's range. I did fit them exactly on the range, but you need to find the picture. If produces an bar, then there's no trade. On an outside day, you shed thursday's entire range. A profit occurs if friday isn't an day and closes thursday's range.
    Any reason your system work just for thursday? thanks. .

  3. #3
    Well first I did not state it only works following thursday (on fridays). Throughout backtesting of tkimble's weekly method I discovered that fridays tend to have ranges though and I thought of a way to exploit that.

  4. #4

  5. #5
    I think that's a good concept, thanx

    ____________________

    http://forexinterval.blogspot.com/

    .

  6. #6

  7. #7
    Interesting system. I've been developing a system and have also seen that there are some pairs that definitely perform better on days. Have you tried this on any other pairs? Possibly try USDCAD and NZDUSD

  8. #8
    For what it is worth I have been looking at a breakout of the Thursday-Friday range on Cable and GBP/JPY and backtested only for the past 12 months. Setting a take profit of 50 pips had about an 80% success rate. The most difficult thing I found was determining stop placement. I am still looking at this breakout but mixing it with bounces off the Bollinger Bands. . .and using the bands.

  9. #9
    Breakout systems such as this is extremely helpful due to unprediction price movements, you simply set up orders above and below the market and ... it's sound like sport plus a few economist despise it, the problem is stop lost setting in these progr. I run it without stop dropped in 90 percent I'm in profit but in 10% reduction I loss all of my account so I set 30pip takeprofit and put in some lot, I think in biger timeframe we must use big distance for stoploss but how much ? Can everybody help me?

  10. #10
    Bars in test2603
    Ticks modelled22821388
    Modelling quality90.00%
    Mismatched charts errors0
    Initial deposit10000.00
    Total net profit-2282.76
    Gross profit26918.33
    Gross loss-29201.09
    Profit factor0.92
    Expected payoff-5.02
    Total drawdown3895.42
    Maximal drawdown6519.11 (51.64%)
    Relative drawdown51.64% (6519.11)
    Complete trades455
    Short positions (won %)227 (46.26%)
    Long positions (won %)228 (50.44%)
    Profit trades (% of total)220 (48.35%)
    Loss trades (% of total)235 (51.65%)
    Largest
    profit trade760.76
    Reduction trade-369.09
    Average
    profit trade122.36
    Reduction trade-124.26
    Maximum
    Successive wins (profit in Cash)7 (1304.67)
    Successive losses (Reduction in Cash)10 (-1315.75)
    Maximal
    Successive profit (count of wins)1346.89 (6)
    consecutive loss (count of losses)-1315.75 (10)
    Typical
    consecutive wins2
    Successive losses2

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
This website uses cookies
We use cookies to store session information to facilitate remembering your login information, to allow you to save website preferences, to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners.