European Breakout Grid Trap Strategy

[ironrick]

Thanks for the update! Somehow I totally missed Dragos's EA thread...

Still following this with interest! Good luck with your contract work!

Cheers,
Rick

[eltax100]

for fast pending orders I have 6 scripts ... 3 for the long and 3 for the short pending orders ... and one to delete all not triggered pending orders ...

so I have to edit the 6 pending orders only once a day (per forex pair) ... set entry price, TP and SL, thats it ... after that I only "drag and drop" the pending orders into the chart ...

Thanks for sharing your grid strategy, this fits in with my daily schedule.

Would it be possible to post those scripts you have ????

wishing you lots of pips

[forextrader-radioman]

for fast pending orders I have 6 scripts ... 3 for the long and 3 for the short pending orders ... and one to delete all not triggered pending orders ...

so I have to edit the 6 pending orders only once a day (per forex pair) ... set entry price, TP and SL, thats it ... after that I only "drag and drop" the pending orders into the chart ...

Thanks for sharing your grid strategy, this fits in with my daily schedule.

Would it be possible to post those scripts you have ????

wishing you lots of pips

Hy eltax,

I will post the scripts at next weekend ... because I have no time to give instructions or any advice how I use them for this strategy ... so only posting the scripts will not work ...

(I hate my silly day job )

so, now a quick view at the chart screen shots ... (the EA is not working here ...)

, Dietmar

[forextrader-radioman]

Hello traders,

here is the EURUSD breakout trap from today, 5th of December, 07:00 GMT, the Frankfurt opening, one hour before London opening

Calculation:

Long1 = 45 Pips
Long2 = 30 Pips
Long3 = 15 Pips

Spread = 3 x 2 = -6 Pips

Result: 84 Pips

[forextrader-radioman]

... and here the GBPUSD breakout trap from today, 5th of December, 08:00 GMT, the London opening.

Calculation:

Long1 = (4 x 45) = 180 Pips
Long2 = (4 x 30) = 120 Pips
Long3 = (4 x 15) = 60 Pips

Short1 = (2 x -75) = -150 Pips
Short2 = (2 x -90) = -180 Pips

Spread = (16 x 3) = -48 Pips

Result: 18 Pips loss

[forextrader-radioman]

overview of december results

so far we have 46 Pips in december

, Dietmar

[gaheitman]

... and here the GBPUSD breakout trap from today, 5th of December, 08:00 GMT, the London opening.

Result: 18 Pips loss

My price feed didn't hit the L1 buy until later, so today would have been a winner on Cowboy IBFX.

pic_15 2011-12-05 15.58.gif

It would be nice if we could filter out spikes. Perhaps only add the reverse trades if price closes above a line. I'll see if I can massage my indicator a bit to allow us to test some options.

George

[garyfritz]

Dietmar, I was just scanning back through your reported results, and noticed something in your GU results for 30 Nov. Either you made a mistake or I'm misunderstanding something.

I believe the winning side always has >= the positions of the losing side. On 30 Nov you showed 3 shorts and 2 longs. Looking at the chart, I believe you would add 1 set of shorts at A, giving you 2 sets of pending short orders. Then at B you hit short1, go short 2 from short1, and add a set of long orders. Then you turn north, getting 2x longs at each level.

So shouldn't it be 2 shorts, not 3? If so, GU made +6 pips that day, not -72.
Gary

... and here the GBPUSD breakout trap from today, 30th of November, 08:00 GMT , the London opening.

Calculation:

Long1 = (2 x 45) = 90 Pips
Long2 = (2 x 30) = 60 Pips
Long3 = (2 x 15) = 30 Pips

Short1 = (3 x -75) = -225 Pips

Spread = (9 x 3) = -27 Pips

Result: 72 Pips loss

[gaheitman]

If you look in the right side of circle A, it hits Long 2 as well, creating the 3rd set of shorts, so when it hits Short 1, there is another short there.

Comes out the same on my charts.

pic_16 2011-12-06 13.23.gif

Dietmar, I was just scanning back through your reported results, and noticed something in your GU results for 30 Nov. Either you made a mistake or I'm misunderstanding something.

I believe the winning side always has >= the positions of the losing side. On 30 Nov you showed 3 shorts and 2 longs. Looking at the chart, I believe you would add 1 set of shorts at A, giving you 2 sets of pending short orders. Then at B you hit short1, go short 2 from short1, and add a set of long orders. Then you turn north, getting 2x longs at each level.

So shouldn't it be 2 shorts, not 3? If so, GU made +6 pips that day, not -72.
Gary

... and here the GBPUSD breakout trap from today, 30th of November, 08:00 GMT , the London opening.

Calculation:

Long1 = (2 x 45) = 90 Pips
Long2 = (2 x 30) = 60 Pips
Long3 = (2 x 15) = 30 Pips

Short1 = (3 x -75) = -225 Pips

Spread = (9 x 3) = -27 Pips

Result: 72 Pips loss

[forextrader-radioman]

If you look in the right side of circle A, it hits Long 2 as well, creating the 3rd set of shorts, so when it hits Short 1, there is another short there. [...]

Yes, here too ...

, Dietmar