This is another London Breakout method.
There are similar methods here on Forex Factory but I prefer open a thread in order to not generate confusion. Any suggestion on how to improve the method is welcome.
I’m using this method on EUR_USD and GBP_USD with 1H charts.
I’m using a demo Interbank FX platform with 5 digits.
These are the rules:
· Long Breakout level: the highest high from 3.00 GMT bar to 6.00 GMT bar (4 bars) + filter.
· Short Breakout level: the lowest low from 3.00 GMT bar to 6.00 GMT bar (4 bars) – filter.
· Default filter is 2 pips on both sides
Entry the trade if these levels are broken starting from 7.00 GMT to 15.00 GMT.
· Stop level for long trades: Short Breakout level – filter.
· Stop level for short trades: Long Breakout level + filter.
· Default filter is 2 pips on both sides
· Long Trailing Stop: lowest low on the previous 2 bars.
· Short Trailing Stop: highest high on the previous 2 bars.
No take profit.
Close all residual trades @ 21.00 GMT (@ 19.50 GMT on Friday).
Money Management: 1% risk every trade
Please see attached my demo trades from Monday 19.
See attached expert advisor and infos on how to use it.
There are similar methods here on Forex Factory but I prefer open a thread in order to not generate confusion. Any suggestion on how to improve the method is welcome.
I’m using this method on EUR_USD and GBP_USD with 1H charts.
I’m using a demo Interbank FX platform with 5 digits.
These are the rules:
· Long Breakout level: the highest high from 3.00 GMT bar to 6.00 GMT bar (4 bars) + filter.
· Short Breakout level: the lowest low from 3.00 GMT bar to 6.00 GMT bar (4 bars) – filter.
· Default filter is 2 pips on both sides
Entry the trade if these levels are broken starting from 7.00 GMT to 15.00 GMT.
· Stop level for long trades: Short Breakout level – filter.
· Stop level for short trades: Long Breakout level + filter.
· Default filter is 2 pips on both sides
· Long Trailing Stop: lowest low on the previous 2 bars.
· Short Trailing Stop: highest high on the previous 2 bars.
No take profit.
Close all residual trades @ 21.00 GMT (@ 19.50 GMT on Friday).
Money Management: 1% risk every trade
Please see attached my demo trades from Monday 19.
See attached expert advisor and infos on how to use it.
Attached File(s)
4 digits.zip
4 KB
|
1,470 downloads
|
Uploaded Jul 26, 2010 4:41am
5 digits.zip
4 KB
|
1,607 downloads
|
Uploaded Jul 26, 2010 4:41am