08-25-2007, 01:49 PM
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Freshman
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Join Date: Nov 2006
Posts: 23
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examples????
Quote:
Originally Posted by jeet1970
Hi
I will appreciate if someone help in coding this system for GBP/USD. I read about this system in Kathy Lien's book and traded manually for 6 months. I have modified the rules a bit, which are as follows:
Starting at 7am, London time, wait until 30 pip range is developed. If the range is not developed within 3 hours, ignore the day.
Once the range is developed, put a buy stop 5 pips above the upper range. Place the sell stop 5 pips below the lower range. If buy stop is filled, trailing stop is the lower range, and if sell stop is filled, trailing stop loss is at the upper range.
Breakout of the range must happen with increased volatility, which is measured by teh rule: Range of candle > Average Range of last 5 candles.
Position is closed by. either
Take profit at 100 pips
Trailing stop loss
Stop loss
This system makes money 3 out of 5 days a week, and every week in last 6 months has been a positive performer.
\
Jeet,
Could you please explain the system with a chart??? It will help us picture what your talking about
Thanks for your help.
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