London Open Breakout Strategy for GBPUSD | Forex Factory

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London Open Breakout Strategy for GBPUSD

  • #1
  • First Post: Edited 4:46pm Mar 27, 2019 3:07pm | Edited 4:46pm
Trading Strategy for GBPUSD with ca. 80% success rate

Enjoy Brexit Drama? come along and play GBPUSD. Demo it and post your results.

1. Wait for the first hour candle to close after London Open, then calculates the high and low of the first hour candle and then place two pending orders.
2. One buy stop order 10 pips above first hour candle high price and one sell stop order 10 pips below the low of the first candle.
3. Take Profit both with a preset 30 pips. Stop loss is set for the opposite end (high or low) of the first candle. Use your MM to calculate your lot size.
4. As soon as the trade triggers, close the opposite pending order.
5. After 20 pips in Profit, move SL to BE plus 1 pip.
  • #2
  • Mar 27, 2019 3:35pm Mar 27, 2019 3:35pm
Good luck with the thred nononsenseFX, how much time you use these strategy wht is the experience?
  • #3
  • Mar 27, 2019 4:25pm Mar 27, 2019 4:25pm
Quoting mizi123
Good luck with the thred nononsenseFX, how much time you use these strategy wht is the experience?
a couple months.

Today was success trade.
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  • #4
  • Mar 27, 2019 8:14pm Mar 27, 2019 8:14pm
Quoting NoNonSenseFX
Trading Strategy for GBPUSD with ca. 80% success rate Enjoy Brexit Drama? come along and play GBPUSD. Demo it and post your results. 1. Wait for the first hour candle to close after London Open, then calculates the high and low of the first hour candle and then place two pending orders. 2. One buy stop order 10 pips above first hour candle high price and one sell stop order 10 pips below the low of the first candle. 3. Take Profit both with a preset 30 pips. Stop loss is set for the opposite end (high or low) of the first candle. Use your MM to...
Sorry to say this, you will lose your money with this rule. I try it before and have EA for this strategy.
  • #5
  • Mar 28, 2019 8:20am Mar 28, 2019 8:20am
Another winning day.
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  • #6
  • Mar 28, 2019 10:23am Mar 28, 2019 10:23am
Quoting NoNonSenseFX
Trading Strategy for GBPUSD with ca. 80% success rate Enjoy Brexit Drama? come along and play GBPUSD. Demo it and post your results. 1. Wait for the first hour candle to close after London Open, then calculates the high and low of the first hour candle and then place two pending orders. 2. One buy stop order 10 pips above first hour candle high price and one sell stop order 10 pips below the low of the first candle. 3. Take Profit both with a preset 30 pips. Stop loss is set for the opposite end (high or low) of the first candle. Use your MM to...
So how many millions have you earned?
  • #7
  • Mar 28, 2019 10:26am Mar 28, 2019 10:26am
How about other pairs?
  • #8
  • Mar 28, 2019 11:17am Mar 28, 2019 11:17am
Quoting Frankiete
How about other pairs?
You can test it on other pairs. Not done it yet.
  • #9
  • Mar 28, 2019 11:42pm Mar 28, 2019 11:42pm
Nice!!!Let's we try.....Hope this be succes.......
  • #10
  • Mar 29, 2019 3:51am Mar 29, 2019 3:51am
Interesting, but IMHO, you can have a great hit rate but you need the R:R to also be great.

For instance, only yesterday, the range (with the +10 to high and low) was 61

Therefore, calculate the Risk as 61 pips = 1-R

The Reward at 30 pips will only be 0.5-R

See my point? The R:R has to be at least 1 to 1, and a way to let the profits run?

Is there a re-entry strategy if stopped out going one way and it give opposite signal?

I will re-read the thread to check. Thanks for sharing.

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It takes a lot for me to IGNORE you, but you can try.
  • #11
  • Mar 29, 2019 4:06am Mar 29, 2019 4:06am
Here are 2 examples - first 2 to 1 R:R was available

Which is better? I think take the 2 to 1 instead of only 0.66 to 1 (30 pips profit vs 54 pips stop loss)

The next was short trade entry but quickly turned around and stopped out for - 1-R.

Also, your charts could be better, show the session time, the price, entry, stop loss, take profit

Just suggestions, it's not hard, only 1 pair, 1 time per day

Good luck all

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It takes a lot for me to IGNORE you, but you can try.
  • #12
  • Mar 29, 2019 4:54pm Mar 29, 2019 4:54pm
Friday offered 1 to 1 R:R, orders would have to be set as it was triggered quickly by random news.

Where is OP gone? This is why I don't start a thread, too much work to maintain

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It takes a lot for me to IGNORE you, but you can try.
  • #13
  • Mar 29, 2019 5:05pm Mar 29, 2019 5:05pm
Quoting Erebus
Friday offered 1 to 1 R:R, orders would have to be set as it was triggered quickly by random news. Where is OP gone? This is why I don't start a thread, too much work to maintain {image}
You should not trade When News is about come out.
  • #14
  • Mar 29, 2019 6:20pm Mar 29, 2019 6:20pm
Quoting NoNonSenseFX
{quote} You should not trade When News is about come out.
Yes, totally agree, but as I mentioned, it was RANDOM news, not SCHEDULED news

Anyway, it's not in the RULES, in fact, Post #1 says -

"Enjoy Brexit Drama? come along and play GBPUSD. Demo it and post your results."

Cheers, wish you many pips next week
It takes a lot for me to IGNORE you, but you can try.
  • #15
  • Mar 29, 2019 9:44pm Mar 29, 2019 9:44pm
Recent brexit make this volatile
  • #16
  • Apr 1, 2019 8:45am Apr 1, 2019 8:45am
Another day for green pips.
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  • #17
  • Apr 2, 2019 11:05am Apr 2, 2019 11:05am
Quoting Erebus
Friday offered 1 to 1 R:R, orders would have to be set as it was triggered quickly by random news. Where is OP gone? This is why I don't start a thread, too much work to maintain {image}
Do you mind sharing your market open indi Sir..
Thank you.
  • #18
  • Apr 4, 2019 2:14am Apr 4, 2019 2:14am
I'm trialling trading the London open on GBP/USD and a few other markets. Have come to find that the break-out moves are very short and quick, so often no positive r:r. The reversals from swing highs or lows showing a better return right now. I'm supposing that this all down to the indecision in the forex markets due to the lack of Brexit clarity.

Still working this strategy though.
  • #19
  • Last Post: Edited Feb 2, 2020 4:19am Feb 1, 2020 9:03am | Edited Feb 2, 2020 4:19am
Quoting jamco388
{quote} Sorry to say this, you will lose your money with this rule. I try it before and have EA for this strategy.
Hi, can you please share this ea of yours. Thanks
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