Breakout system by OILFXPRO

[oilfxpro]

OILFXPRO oil breakout system
Hi Gals

This strategy produced 1891 cents profit from 1/1/2007 to 16/2/2007 ,
for 50 trades ,with a drawdown of 200 cents,and average average profit per trade of 37.82 cents....................1750 cents net after spreads over 35 working days = 50 cents per working day

Determine the 10.00 CET – 14.00 CET High Low on QM mini crude.Place trade at 14.00 cet

Set BuyStop at High + 10 cents and SellStop at Low - 10 cents

Set Target Price at entry + 100 cents (exit only on exit rules or if stops hit)

Set StopLoss at entry - 70 cents

. If the other side of the breakout is within 70 cents then the StopLoss will be that level (Longtrade: SL = Low range - 10 cents = SellStop; Shorttrade: SL = High range +10 cents = BuyStop)

Move the SL to breakeven after a gain of 50 cents

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 morning channel is greater than 100 cents do not trade.

EXITS
Profitable trades only .Exit when 4 wma crosses /8 wma on 30 m charts and remains crossed for 2 consecutive 30m bars
or stops are hit either at breakeven or otherwise or
At 21.00 CET all orders expiring and close all trades at market. On Friday we do the same at 20.00 CET.

This link displays the time in every major city in the world: Qlock - World Clock


I use professional quality EXPERT ADVISERS for metatrader already for this system so please do not copy my work that I distribute freely and do not use it for commercial exploitation

OILFXPRO

[nicesurf]

Thanks, it/s a very simple strategy so that new traders can use it.

[scorpion]

I can see your backtest results are aged, back to January 2007. It would be awesome if you could provide the latest results.

[oilfxpro]

Originally Posted by scorpion

I can see your backtest results are aged, back to January 2007. It would be awesome if you could provide the latest results.

There is a journal for another version of this breakout system and it is posted here.The jounal will later include many of my other oil systems.

http://www.fxfisherman.com/forums/fo...html#post12607

This is the advanced version of the breakout system in the journal .Last week it made 553 points.

At present I am finding it difficult to backtests commodities on metatrader due to insufficient data and other functional problems


OILFXPRO

[oilfxpro]

Hi

Here is a free EXPERT ADVISOR for oil

This is the free version .It is only suitable for demo accounts

OILFXPRO

[scorpion]

Originally Posted by oilfxpro

Hi

Here is a free EXPERT ADVISOR for oil

This is the free version .It is only suitable for demo accounts

OILFXPRO

What do you mean by "suitable for demo accounts"? You mean there're more features in paid version?

By the way, it would be nice if you could attach some charts with arrows showing some enters and exits. Thanks!

[oilfxpro]

Originally Posted by scorpion

What do you mean by "suitable for demo accounts"? You mean there're more features in paid version?

By the way, it would be nice if you could attach some charts with arrows showing some enters and exits. Thanks!

All the first and second drafts of our EXPERT ADVISORS are given out as demo versions because they are simple versions and not fully debugged.They are alright for taking signals

Debugging is very expensive and final versions of our EXPERT ADVISORS contain more trading secrets of pros ...................which we keep to our selves and in our Expert Advisors

We still give out good profitable strategies for free despite all contstraints.It is better to help people and start them in 5% profitable club.

OILFXPRO

[oilfxpro]

Here is result of FREE VERSION 182 points profit today *2

[oilfxpro]

Here is more details about breakouts intraday

Spotting Breakouts As Easy As ACD

OILFXPRO

[oilfxpro]

Originally Posted by scorpion

What do you mean by "suitable for demo accounts"? You mean there're more features in paid version?

By the way, it would be nice if you could attach some charts with arrows showing some enters and exits. Thanks!

Scorpion

Look at the hourly bar and above below the opening range ,go with the flow.

Reverse yoour position if the market reverses and go with the flow

Very simple

OILFXPRO