Hi! I always liked breakout systems, simple and with low maintenance. The perfect kind of system when I was starting to trade, as they required little or no input from me. I've used several over the times, but they don't work in some market conditions, and then people tend to put them aside. I used all sorts of London breakouts possibly known to man but lately it does not seem to work. So I went for something else.
I call it Eur/Usd "Kakusei". "Kakusei" is the Japanese word for awakening.
This system is traded on the EURUSD pair and it is pretty simple, with no fancy MM rules or indicators.
Here it goes:
-Load a 5 minutes chart of the "phiber"
-Draw a horizontal line at the top of the 00.00 gmt+2 candle and another on at the bottom of the same candle.
-Add a buffer of 7 pips to each one of them.
-Place two pending orders at the top and two at the bottom, the first one with a take profit level of 3 times the size of the box, including the buffer. The second order should have a takeprofit of only 1 box. At this point we should close half position and move the stoploss level 3 pips up. Both orders should have a stoploss at the oposite side of the box. Then if price retraces back we should get a breakeven trade. The reason for the 3 pip rise in the sl is that I don't like break-evens and I prefer to grab those pips. I like pips.
-If the first trade hit the last tp (3 boxes) we're good. If not the opposite order is still valid.
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As for previous results, since 4 Jan till yesterday I had 52 wins, 62 losses and 41 break-evens.
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Attached is one indicator that can draw the line for you.
And for people with "gmt issues" http://www.timeanddate.com/worldclock/
That's it. I wish you many pips! Happy trading!
I call it Eur/Usd "Kakusei". "Kakusei" is the Japanese word for awakening.
This system is traded on the EURUSD pair and it is pretty simple, with no fancy MM rules or indicators.
Here it goes:
-Load a 5 minutes chart of the "phiber"
-Draw a horizontal line at the top of the 00.00 gmt+2 candle and another on at the bottom of the same candle.
-Add a buffer of 7 pips to each one of them.
-Place two pending orders at the top and two at the bottom, the first one with a take profit level of 3 times the size of the box, including the buffer. The second order should have a takeprofit of only 1 box. At this point we should close half position and move the stoploss level 3 pips up. Both orders should have a stoploss at the oposite side of the box. Then if price retraces back we should get a breakeven trade. The reason for the 3 pip rise in the sl is that I don't like break-evens and I prefer to grab those pips. I like pips.
-If the first trade hit the last tp (3 boxes) we're good. If not the opposite order is still valid.
------------------
As for previous results, since 4 Jan till yesterday I had 52 wins, 62 losses and 41 break-evens.
------------------
Attached is one indicator that can draw the line for you.
And for people with "gmt issues" http://www.timeanddate.com/worldclock/
That's it. I wish you many pips! Happy trading!
