Hello Traders,
Today I would like to give some attention to the 2009 "New Variation on 7 am to 9 am Breakout Strategy" posted by lucashammer. I have back tested the strategy and I find that there is a potential to be a profitable strategy if the money management side could be solved. i.e. It has a very high winrate of above 90% if you only target the first TP. However, the profit gained could easily be wiped out by a single losing trade. I have tested it on the EURUSD, USDCAD and US30 index. I have found also that I needed to start 1 hour ahead if your location is GMT +4. The author stated that the stop loss should be on the zero line of the Fibo. But I think it is too tight as a lot of times the price go well below or above it before going to hit target. I have found that 2.5 ATR could be a good point, but because of high lot size, one loss could be very damaging. For those who are interested in this strategy, please click on the link above and provide your feedback please.
Today I would like to give some attention to the 2009 "New Variation on 7 am to 9 am Breakout Strategy" posted by lucashammer. I have back tested the strategy and I find that there is a potential to be a profitable strategy if the money management side could be solved. i.e. It has a very high winrate of above 90% if you only target the first TP. However, the profit gained could easily be wiped out by a single losing trade. I have tested it on the EURUSD, USDCAD and US30 index. I have found also that I needed to start 1 hour ahead if your location is GMT +4. The author stated that the stop loss should be on the zero line of the Fibo. But I think it is too tight as a lot of times the price go well below or above it before going to hit target. I have found that 2.5 ATR could be a good point, but because of high lot size, one loss could be very damaging. For those who are interested in this strategy, please click on the link above and provide your feedback please.
Claud Lepathy
Freestyle Return This Year:
13.9%