Toby's 600 seconds breakout system

System Rules:

NO Negative comments only Positive

Share Your Trading Journal Here

Share some profit to me (If You Want )

Pairs Stop TP
EURUSD 50 100
USDCHF 50 100
NZDUSD 50 100
AUDUSD 50 100
GBPUSD 60 120
USDJPY 50 100
USDCAD 60 120
EURJPY 90 180
GBPJPY 100 200

Timeframe: Daily

BUY SIGNAL

• Only use a daily chart and check for signals at the close of each daily bar
on the evenings.

• 21 SMA must be trending up and not flat.

• An inside bar must form.

• Place a buy order 5 pips + spread above the top of the inside bar.

• Place the required stop depending on the currency pair (see stop values)

• Place a take profit of twice the amount of the stop.

• Do not remove trade until either the entry is triggered or the 21 SMA
changes to a down direction

SELL SIGNAL

• Only use a daily chart and check for signals at the close of each daily bar
on the evenings.

• 21 SMA must be trending down and not flat.

• An inside bar must form.

• Place a sell order 5 pips + spread below the bottom of the inside bar.

• Place the required stop depending on the currency pair (see stop values)

• Place a take profit of twice the amount of the stop.

• Do not remove trade until either the entry is triggered or the 21 SMA
changes to an up direction.

Have you backtested this and do you have any stats for it?

im using it in real account and its profitable for me, you can backtest it and report your finding here, the ratio of this system is 1:2 so you need only at least 33% win to BE, more than that pure profits!! enjoy.

Ok, so what's your win rate?

I like the way you have non negative comments down as a system rule, I think everyone should have that as number one!

This is Dean Saunders' 10 minute forex wealth building system.

Show us an image with an example.
thank you.

looks interesting!

i am in...

lets dig together...



thanks
kader

what is the reason for the stop values ? could they be recalculated live from atr or something ? to adapt to volatility changes..

Why wait for an iside bar.
Just buy 10 pips above the previous daily bar and sell 10 pips below the bottom of the previous daily bar.
Do a search for daily_High_Low indicator I think there is an EA for this on Steve's board called Hochjia or some such thing.

USA clients us OCO order script.

TP 100 on ej ad gp
TP 50 on CU EU

would not mess with the rest of the pairs. Use ecn with low spread.

So what is the weakness with this system? The SL has to be big enought for breathing room but look at pic below
see how every day (except inside days) moves higher or lower than previous day.
and when you get an inside day OMG double up baby cause its going to move either way.
To do a visuial test press F8 go to common tab and click period separators then drop down to a M15 mark the high and low and do visual back test from one period(day) to the next count your winners and see where you think you'd put stop.

Here I'm bored so I added a second screen shot of the worst month you can trade in and that is DEC you can see Xmas eve was a small day. I don't want you #uckers claiming I cherry picked the chart.

So the check marks are no trade because they are inside bars. Yummy bars cause the next day the market moves fast.
The thumbs up are winners

As far as I can tell there were no losers BUT I don't know how wide spreads were on some of the close days. for example 12/12 might have been a loss depending on how wide the spread was when it made that low. It might have taken you short you'd have to drop to 15 and see.

You can only forward test accurately anyway.

Let me know if you like it. I call it retard trading. (no offense to retarded people ok Its just what I call it.)

Interesting system...are we talking the daily gmt candle ?

If your talking to me then yes.

But I'm stepping on toby123 thread so I'll shut up. Toby is right inside bars are wicked strong and I may try some of what he is saying in conjunction with my retarted trading.

a lot of these would have been stopped out if you had placed a stop of 100 pips. remember, the market may go against you hitting your stop first before it goes into profit.

you say to have a large enough stop. but even with a stop of 100 pips and tp 50, means you will lose. bad r:r

you guys keep the rules of this system mentioned post#1, you will see the benefit, come back and report your findings!, the ratio of this system is 1:2, cheers!

Yes Whatfx,
I said that in the beginning. Don't anyone read any more?

I said the weakness in the system is the SL The RR is upside down.

Toby123 has the same issue. He's just saying sl 100 tp 200 and let the market give you what it gives. He has found as have I that the market will move toward your TP more often than your stop. If you ran a 300 or 500 stop so be it. To trade this way on the D1 you must give the market room to move. So maybe your account can't handle mini lots, well go trade penny's till it can, then move to dimes etc.


But if your not willing to demo our ideas why bother bringing up the OBVIOUS especially after I already stated it. (twice now)

To demo Toby123 or my idea will cost you nothing, zero, nada, zip, zilch. Come back when you've tested it then tell me your wins and loss ratios. Tell me where your stops were etc.
Oh never mind I forget most of FF is now brain dead.

Keep doing what your doing Toby123 I know your idea works.
Its boring waiting every day for an inside bar so this idea of your will not catch on. Not exciting enough.

But a wise man once told me if trading is boring then your doing it right.

Toby,

Could you post an example of a live trade entry? TIA & GL!

update of my trades:

BOOM!!!

200 pips = gbpjpy ( hit my TP)

75+ pips= audusd (25 to go)

46 pips = gbpusd (64 to go)

Subscribed with interest...

I love IB set ups. This is similar to the PTT method thread which used a 30pips SL and a trailing stop. I like however your SL/TP system, which gives a bit more room to trades and a defined RR profile.

Subscribed.