Simple morning hours breakout system - forward test $1000 => ?

Yeah, I might do that!

Continue trailing...

Stopped out. Done for the day.

Good morning. New day, new examples.

EUR/USD:


GBP/JPY:

EUR/USD sell stop filled. Now added a sell limit at 50% of the candle to enter another position for a possible retracement:

EUR/USD target hit. All pending orders are removed. Stop for the remaining position will be trailed:


GBP/JPY stop sell filled. Added a sell limit order at 50% of the candle size for a possible retracement:

Nice trades for you today....well done.

Gbp news tonight....do you take notice of that....or just let it play out how it does?

If your first lot of orders is stopped out.....do you leave the other ones to run.......

So you get a sell opened and stopped out.

The buy orders are left there and open.....managed in the same way ?

Thanks.

News doesn't bother me at all. Usually I skip the NFP friday because there is just range trading till that news which often lead to bad trades. Beside that I don't care, even though that spread widening sometimes hurt my trades as well.


Yes. The opposite order (today the stop buy ones) stays in place as long as the initial target of the other side is not reached. As soon as it's reached like for EUR/USD all pending orders in that pair are removed. If it's stopped out before it reached its target, the stop buy stays there and is managed the same way.

In bad days this can lead to 4 losses in a row of course.

Trailing the stop... (as usual the highest high/low of the last two closed candles):

Thank you for your clear reply.

Wonder if it will last....have tried many versions of this before myself.....some good days....some bad. Over all not great.

Your money management with the multiple orders may help. Keep it up....

Hi Xaron,
Interesting approach, will follow...

Trailing the stop... Looks like it will be hit soon:


No change in GBP/JPY:

Nice, Simple and Logical Xaron.
I might automate in the weekend if you don't mind.

All the best ,

Khalil

Sure, please do it!

GBP/JPY missed the target quite just a bit. Let's see what happens next...

Well that one took a while. GBP/JPY hit its target, remove all pending orders and trail the stop:

Well done Xaron,
Seams to work well, I shall try it next week.
On the setup candle, how far above/below do you put your entry, is it like 1 pip + spread?

I use 2 Pips + Spread.

Great !

This one becomes more and more attractive !

I'm curious about the EA of this beautiful KISS strategy !

thank you.

I love breakout strategy i will try this out for sure
This is my favorite box indicator can come in handy for manual back testing and live trading
Just set your charts time in gmt in the settings and then put 8:00 - 8:25 GMT and it will add the high and low for you
attached