8H IB Breakout

Hello everybody,

My strategy is very simple. It's an breakout intraday strategy

What do you need ?:
30 min chart
Custumcandleweek indicator with 480 min timeframe.
An inside bar.
entry rules:
On a 8h inside bar sell on low breakout and buy on high breakout.
Stop loss:
8h inside bar high for sell
8h inside bar low for buy
Target:
Target=Stop loss-Entry R:R=1:1
If inside bar is not breaken in 8h look for an other inside bar
Best time is GMT+2 because we have 3 sessions (00:00-8.00am asia), (8:00-16:00europe) and (16:00-24:00 USA).
It works well on EurGbp.

Trading Results:
2009
Jan: 12 win 7 loss
Feb:13w 8 l
March: 9w 5 l
April: 7w 7l
May: 12 w 6l
June: 10w 2l
July: 11 w 2l
August 16 w 2l
Sep 8 w 2 l
for 2009 70% success rate for 1:1 trade ratio with 2%risk/trade +102% in 7 months or 14%/month
2008
Jan: 8w 3 l
Feb:10w 8 l
March:5 w 4 l
April: 5w 5 l
May 8 w 3 l
June: 7 w 9 l
July: 12 w 7 l
Aug: 7w 1 l
Sep: 5 w 9 l
Oct: 8 w 9 l
Nov: 6w 8 l
Dec: 16 w 6 l
For 2008 58% success rate for 1:1 trade ratio with 2%risk/trade +55% in 12 months or 4.5%/month

Happy trade.

For information:
In August we have 16 win and 2 loss
In July we have 11 win 2 loss
In June 10 win 2 loss
That's 80% success!

Do you have this 8H indicator?

Arto hope you can post more examples with text on the charts so we can under stand the system better, I am very intrested in this time frame..

Thanks for sharing
Rebel

It's looks like very intersting

your means you use the mentod 3 mouth?

are you have more result post?

thank your sharing.Sir



GMT2?

what's mt4 plam your use?

I am use fxdd or alpari.they are like GMT0

can you suggest your mt4 plam?

Thank you.

Arto,
Thank you for sharing your system.

Pharoah,
Attached is a Custom Candle indicator

Alfa99

In May 12 win 6 loss
for september 7 win 2 loss
I put indicator custumcandleweek on post 1
another exemple for 1 september double win!

I don't know...


what's the day first trading?random entry?

8h indicator first break?

if the tp hit.

next trading how to beging?

ok, so the actual size of the block doesn't mean anything, it's just the highest high, and the lowest low, in the 8H timeframe, setting up the trade for the next 8H timeframe?

wjqblog,

Wait for an 8 h inside bar to enter a trade and put a buy and sell stop on high and low of candle. You have time to trade if you have a day job because we wait 8h.

in 9.1

1st trading and 2nd trading is correct??

and 3rd 4th??

it's correct??

if wrong

please tell me your 1 2 3 4 5 6

entry..

sorry..Sir.thank you

sir

Now

the eurgbp trding

buy stop 0.8792 sl0.8752 tp 0.8792+(0.8792-0.8752)

sell stop 0.8752 sl0.8792 tp 0.8752-(0.8792-0.8752)

it's correct?

wjqblog,

Your 1st and 2nde trade are correct
3rd wrong and 4th is good

an other exemple 8 september
+17 pips in the pocket!
good trading

wjqblog,

buy stop 0.8792 sl0.8752 tp 0.8792+(0.8792-0.8752)

sell stop 0.8752 sl0.8792 tp 0.8752-(0.8792-0.8752)

It's not correct we don't have an Inside Bar so no trade now

Good trading

What is an Inside bar?

- Current bar's range is within the previous bar's range. Another way of saying the same thing - an inside bar has a low greater than the previous bar's low and a high less than the previous bar's high.

I'm really confused about this system... I can't make heads nor tails of it. How do we know it's safe to trade? when the bar is small, on the opposite side of the bar before it, like, what are the exact particulars.

Sorry Sir.

I am chinese

My english is very bad

what's "inside bar"?

Sorry..I stupid

Pharoah,

It's simple we have to wait an 8h inside bar we don't trade high and low of candle randomly.
Why we wait an Inside bar (inside candle) because there is no direction if a breakout come we have an intraday trend a potentiel good trade.

在酒吧里面，是酒吧上流它比早先酒吧的低的地方上流，并且低落它高于早先酒吧的低落。 看图片

Arto I think people are geting confused with the 30 min bars that are on the chart, the system is based only on the large candles.

Why do you just not use daily charts and trade the inside bar on those..?

Rebel