This system is dead and finished .
It has lost money for last 16 months on live accounts
Live results trading the exact original Hans System up to the end of August 2009.
Dec 2007: +840 pips
Jan 2008: -373 pips
Feb 2008: -38 pips
Mar 2008: -96 pips
April 2008: +967 pips
May 2008: -507 pips
June 2008: +208 pips
July 2008: +165 pips
Aug 2008: -148 pips
Sep 2008: -156 pips
Oct 2008: -178 pips
Nov 2008: +286 pips
Dec 2008: +122 pips
Jan 2009: -623 pips
Feb 2009: - 478 pips
Mar 2009: -408 pips
April 2009: +95 pips
May 2009: -57 pips
June 2009: +288 pips
July 2009: -1227 pips
Aug 2009: -803 pips
Total = -2,121 pips
Another bad month I'm afraid.
I think that breakout systems can be successful but there are a couple of important factors that affect their overall profitability.
If your breakout system trades the GBPUSD on the London open and many do then british daylight savings time changes will affect the results, but in my experience it is a mistake to automatically switch your trade hours when the UK goes on and off daylight savings time because the market has some inertia and takes a few weeks to adjust.
Many breakout systems fail during the summer months because the market tends to have a smaller daily range. I recommend considering lowering take profit levels.
Consider taking the month of August off as Europe pretty much shuts down.
the thing with breakout systems is when they work they work well, but inevitably the market goes through pro-longed periods of non-trending, markets don't just go straight up and down which is conducive to breakout trading, they go sideways, spike, range, gap, reverse, etc.....when using a trend-following system it's best to use a counter-acting system to soften the drawdowns
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