Oilfxpro Simple Cable breakout 1.6 version

[oilfxpro]

Hi folks

This is a well know profitable system

Determine the 08.00 CET – 9.00 CET High Low GBP/USD

Set BuyStop at High + 5 pips and SellStop at Low - 5 pips


Set StopLoss at entry - 45 pips for GBP/USD. If the other side of the breakout is within 45 pips for GBP/USD then the StopLoss will be that level (Longtrade: SL = Low range - 5 pips = SellStop; Shorttrade: SL = High range + 5 pips = BuyStop)

Minimum channel and stop loss.: If the buy/sell entry zone line (which includes the 5 pips entry distance on both sides) is less than 25 pips, then both zones need to be offset to make this range a 25 pip range. .The stop loss on the minimum channel is 25 pips.

Move the SL to breakeven after a gain of 40 pips for GBP/USD

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. No new trades can be added after 18.00 C E T.

If one exits a position then the next position has to be in the opposite direction...........there is no rentry allowed until after a position is taken in the opposite direction.


At close of 19:00 CET 1/2 hour candle all orders expiring and close all trades at market. On Friday we do the same at 19.00 CET.Always wait for the close of a bar to exit major moves and end of day exits.Effective close is 19.30


This link displays the time in every major city in the world: www.qlock.com.

These are the best results that I got so far from 16 June 2004 - 9 march 2007: 8.9pips without spread, 4.9 with 4 pips spread. as quoted by 1.6.The maximum drawdown was 641 pips.The system produced 5018 pips over a period of 691 working days (estimated days)


oilfxpro

[oilfxpro]

Here is a version for today's market conditions

Determine the 08.45 CET – 9.45 CET High Low GBP/USD

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


Set StopLoss at entry - 80 pips for GBP/USD. If the other side of the breakout is within 80 pips for GBP/USD then the StopLoss will be that level (Longtrade: SL = Low range - 5 pips = SellStop; Shorttrade: SL = High range + 5 pips = BuyStop)

Minimum channel and stop loss.: If the buy/sell entry zone line (which includes the 10 pips entry distance on both sides) is less than 25 pips, then both zones need to be offset to make this range a 25 pip range. .The stop loss on the minimum channel is 25 pips.

Move the SL to breakeven after a gain of 40 pips for GBP/USD

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. No new trades can be added after 18.00 C E T.

If one exits a position then the next position has to be in the opposite direction...........there is no rentry allowed until after a position is taken in the opposite direction.

At close of 19:00 CET 1/2 hour candle all orders expiring and close all trades at market. On Friday we do the same at 19.00 CET.Always wait for the close of a bar to exit major moves and end of day exits.Effective close is 19.30

free expert advisors are available

OILFXPRO

[oilfxpro]

There are FREE breakout EXPERT ADVISORS posted here

Index of /_MT4_Experts

They can be adapted for this strategy

[goldstock]

What an impressive collection of material, looks like a combination from many forums.
I've seen your post on TSD or FF it is impressive also.
good work
Goldstock

[oilfxpro]

Hi

Today 152 points in profit at present

OILFXPRO

[oilfxpro]

Double century on friday

[bradman]

the attached thumbnail (2 above) has gone downwards!!

[oilfxpro]

Originally Posted by bradman

the attached thumbnail (2 above) has gone downwards!!

Better to accept the honest posts ,accept reality of drawdown periods and losses

Acceptance of rough periods will make traders better.

OILFXPRO

[oilfxpro]

Backtests vs forward tests

[oilfxpro]

140 pips today