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TOPIC: 1st hour breakout based on a five minute chart

1st hour breakout based on a five minute chart 04 Jan 2017 20:59 #1

  • Monkeyz
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£887 profit... that depends on how much you're risking. £887 on a £1000 account, not bad. £887 on a £100,000, not so great!

R:R is key!
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1st hour breakout based on a five minute chart 04 Jan 2017 12:35 #2

  • longterm_view
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Trendfriend, Happy New Year. :P

I worked on this over the Christmas Break!! :woohoo: :silly:

I have done your idea, only longs, £887 profit, better, but not brilliant.

Need a way to stop the false breakouts! But I suppose everybody is looking for that!! :whistle:
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1st hour breakout based on a five minute chart 04 Jan 2017 11:20 #3

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happy new years guys....

interesting post Longterm....

Like Monkeyz siad, can you check if you only traded long, no shorts....long only in bull market.

Whats the outcome from that??

atb,
trendfriend
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1st hour breakout based on a five minute chart 04 Jan 2017 10:21 #4

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Monkeyz, Thank you. Happy New Year! :P I will look into adding a trend filter.

I have looked through the trades again, and adapted the system and I can get to a profit of £2,778. Much better than the first trial. ;)

On the first trial, I did include the first 5 minute bar, which Remo excludes. I will re-try the method, by excluding the bar and see the outcome.

Trial 2, I tried a close above the breakout points and this yields a profit of £1,366. (Although you miss the days when it flies through the range and doesn't come back to re-test)

Trial 3, was a breakout after 10:00, as there appears to be a false breakout around 9:05-9:45. This yields a profit around £2,800.

Trial 4, was a HH or LL breakout, this leads to a profit of £1,954.

There are a lot of false breakouts as examples below... This was the reason for trying a close above the range.


10.FTSE10029.2.png


13.FTSE1004.3.png


17.FTSE10011.3.png


I will keep trying. :whistle:
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1st hour breakout based on a five minute chart 03 Jan 2017 21:29 #5

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Happy New Year LTV!

Remo has spent a while looking at this (at least a long time ago he did!). One option might be to filter trades based on the trend of the market. E.g only go long if 1H or 4H is above the ichimoku cloud or above a certain moveing average.

Best regards
M
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1st hour breakout based on a five minute chart 03 Jan 2017 19:31 #6

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1st hour breakout based on a five minute chart

I have looked at the ftse 100, 1st hour trading system for all last year and I don't believe it did very well. :dry:

I only looked at points 0-40, anything above was excluded, a stop was placed at the trading range bottom / top.

There were 160 trades, 81 winners and 79 Losers.
On £10 per point you would have made £540.

I have tried various methods to improve the system, and it did get better. :)

I am still looking into adapting the system to achieve more profit. :P

Has anybody else looked into it? :whistle:
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