Hi folks
Here is the system and a second free expert advisor for signals/forward testing /demo accounts
OILFXPRO gold breakout system
Determine the 8.00 CET – 9.00 CET High Low on gold zg.Place trade at 9.00 cet & Determine the 14.00 CET – 15.00 CET High Low on gold zg.Place trade at 9.00 cet for morning breakouts and at 15.00 hours CET for P M breakouts
Set BuyStop at High + 15 points and SellStop at Low - 15 points
Set Target Price at entry + 70 points ($7)(exit only on exit rules or if stops hit)
Set StopLoss at entry - 40 points ($4)
. If the other side of the breakout is within 40 points then the StopLoss will be that level (Longtrade: SL = Low range - 15 points = SellStop; Shorttrade: SL = High range +15 poins = BuyStop)
Move the SL to breakeven after a gain of 50 points
If a certain position is taken and price turns agains you and it breaks the other side of the breakout channel then turn. If the breakout channel is broader then the stoploss ,first the stoploss will be hit. If the breakout channel is narrower then the stoploss then hitting the other side means that you have to turn your position. Three turns per day is maximum limit
If the early morning channel is greater than 100 POINTS ($10) do not trade the expert advisor in the afternoon
EXITS
At 21.00 CET all orders expiring and close all trades at market. On Friday we do the same at 20.00 CET.
Brokers:Any futures gold broker
http://www.interactivebrokers.co.uk/php/main.php?red=1
http://www.interactivebrokers.com/en...ntity=llc#show
Product : GOLD AT ODL SECURITIES
Free demo accounts at Alpari
Forex (FX), CFD, Futures and Equities & Options Trading with ODL Securities
There is EA already for this system so please do not copy my work that I distribute freely for commercial exploitation.Any commercial seller who copies this free system will meet his destiny.
OILFXPRO