New Variation on 7 am to 9 am Breakout Strategy

they should be the fib levels as in the very first post on this thread, i also trade the london breakout and was using fib levels for TPs on that untl i found this variation method as i have been tradign the NY box for way longer then the london box, i am testing this on demo for 7 days but the xl Spreadhseet of results looks pretty good for december in what was a difficult month for breakout trades overall

Hey,

TP1 is equal to the number of pips between the entry level and the first profit target
TP 2 and TP 3 are likewise the number of pips between the entry and the profit target.

These profit targets were established by using the Fibonacci levels that the originator of this thread posted in the very first post.

Hope that clears things up.

-Adam

Hey,

The first 2/3rds of the month were strong for the NY box using GBP/USD. Then the markets fell into the Christmas/New Years/end of year craziness mode, so I don't give much credence to any of the results from the final third of the month.

I'm going to really pour through these results on January 17th, when I have time during a long flight overseas. I've also recorded the london breakout using two different timeframes - 22:00 to 1:00 and 00:00 to 3:00 (EST) and two pairs - EUR/USD and GBP/USD
I will record the results of my analysis onto a spreadsheet which should be ready by the 20th of this month.



Best,
-Adam

what do you do about false breaks?

Hi,

Interesting thread. There appear to be a number of offshoots of the original system Lucashammer highlighted with people suggesting different stops, different money management, size of box filter etc but has anyone any actual long terms results from Live trading (not backtest or demo) of any of these. For a system that a fair number of people seem to be suggesting works quite well there seems to be very little in the way of stats (apart from December). These types of systems have habit of having some good months which lure people into thinking it works but then have long row of months when it doesn't. I'm certainly interested in trying this out but has anyone got ongoing results?

thanks,
Justin