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KISS FX Breakout Strategy

  • Post #1
  • Quote
  • First Post: Jun 15, 2009 9:30am Jun 15, 2009 9:30am
Hey there traders,

Here you will find a breakout strategy for forex. KISS FX Breakout Strategy is a part of my Thesis.
The guidebook includes entry-, exit- & money management rules.

The idea of KISS FX Breakout Strategy is Keep It Simple Stupid (KISS), so the meaning is the keep the charts as clean and as obvious as possible without any complicated indicators.

The guidebook is more than 30 pages long and even if you find it tempting to go straight to entry rules, I recommend reading the entire book from page 1.

I hope someone will find this guidebook useful and I wish for many comments, questions and testing!

Thanks for everyone!

The file can be uploaded from http://www.2shared.com/file/6323415/c8a1e92f/KISS.html if the attachment wont open!

Miksu
Attached File
File Type: pdf KISS.pdf   1.6 MB | 13,905 downloads
I like simple systems. In this business, the simpler the better. This is why I began concentrating on simple, proven setups to make my profits.

Thanks for sharing, I'll check that out.
{Promotion Removed}
Here is an example trade from last night.
Pair and timeframe (EXEPTIONALLY) eurjpy 5 min.

Entry after a confirmed breakout. Stop loss above old support line (as previous support becomes resistance), close to moving averages.

80% of the position out at +16pips, stop loss moved to breakeaven. The meaning was to take 20% out at +40pips, but I wasnt following the trade, and I missed +40pips. I closed 20% finally at +15pips.

That was a nice trade. Very clear support line breakout, easy to trade!
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Miksu,
Just read your file, thank you for sharing it.
What do you think of this one?
If we close below the line, three pips later we short.
Or, if we break upwards, we go long?
Michael
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My first trade was successful! So of course, I like this system. I hope others will post here so we can help each other.
Made my 30 pips and have my runner in play.
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Well I seem to be the only one posting. How about this one?
It even looks like a reverse Head and shoulders.
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Hey Allivemind,

Thanks for your questions. I´m glad you like the strategy.
I`m glad you made your 30pips. I might have not taken that same trade,
as the trend was slightly upwards. And the smaller moving averages were above
200 SMA. However, it was a very obvious triangle pattern.

I simply try to filter every bad trade out and that is why I only trade with a clear trend.

I second trade seemed to be a winner as well. The trend was a bit unclear though.

Keep up testing the strategy and post questions!

I just have to state that I´m not a professional trade, so you dont have to believe every
word I say. I´m just telling you, if I PERSONALLY would have taken the trade.

Thanks!
Quoting Miksu
Hey Allivemind,

Thanks for your questions. I´m glad you like the strategy.
I`m glad you made your 30pips. I might have not taken that same trade,
as the trend was slightly upwards. And the smaller moving averages were above
200 SMA. However, it was a very obvious triangle pattern.

I simply try to filter every bad trade out and that is why I only trade with a clear trend.

I second trade seemed to be a winner as well. The trend was a bit unclear though.

Keep up testing the strategy and post questions!

I just have to state that I´m...
Thanks for answering.
I am trading live but with very small position size as I learn the system. I have learned that a high % success rate is more important than a few lucky trades, so I appreciate any feedback I can get.
Michael
  • Post #9
  • Quote
  • Edited at 2:21pm Jun 17, 2009 1:53pm | Edited at 2:21pm
OK, I took this one about an hour ago.
By the rules, it would be up about 20 pips right now. But I took it 2 pips over the highest candle and have my 30 already. Is this one you would take?
Although I drew a Trend Line, I used a horizontal line from the high.
Michael
ps Will you be publishing the ones you take? I hope so, as I really like this method.
Also, are there times you are sleeping and not watching the market? I will probably miss some when sleeping.
EDIT:
Well it made 30 by the rules and much much more!
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Well that makes 3 in a row! I hope this thread can keep going!
Hey Michael,

That is awesome. Here you can see that you basically dont need any mathematical indis. That seems to be a solid trade, however I´m not so sure about the overall trend. This system works the best, when there is a clear trend like shown in some of the examples in the guidebook.

I´m glad you have made good trades. I will be posting my trades here. I havent traded since my first example. Markets have been too messy so all of my rules for entering a trade havent been fulfilled.

I do sleep my friend but I dont worry about lost chances as they are more preferable than loss of capital.

Today I hoping to take a few trades!

Keep up posting your examples as well!
Today bad trade on EURUSD.
It started well but eventually turned against me and I got stopped out.

I should have noticed the possibility of a double top before I entered.
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Quoting Miksu
Today bad trade on EURUSD.
It started well but eventually turned against me and I got stopped out.

I should have noticed the possibility of a double top before I entered.
OK, I probably wouldn't have taken that one, because we were too close to 1.4000. How about this one? It broke below the TL, but rallied up for a retest before it finally came back and broke the 3 pips below the break out candle. The only reason I did not take it is that I was already short for another reason before it broke down.
I know it wasn't below the ma's, but a nice toppy triangle none the less.
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Hey,

I probably wouldnt have taken that one as the emas were above 200 sma.
I missed this one, but following the 3 pip rule it would have gotten the 30. I should have known it would take another stab at breaching 1.4.
Here all requirements are met, as price is well over the ma's.
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Yes that is a good example! I hope we get lots of those this week!
Today, one perfect enrty, but I missed it because of a golfround!
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Quoting Miksu
Today, one perfect enrty, but I missed it because of a golfround!
Well I did catch it! Thanks for your direction. I like taking off most at +30
Michael
Well done Michael!
A nice trade on usdcan.
80% off + 20 pips, 20% hit stop loss.
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