Weekly breakout system !

[amarnath]

Hi all,

This can be the most simplest profitable system on earth and i request programmers here to make it as a EA with option to enable different type of money managment can be switched for backtesting and forward testing purpose. Though some may ask its so simple why not i can trade it as manually ? yes quite it can be done but if its converted into EA it easier to trade across many intruments and to manage trades.

Let me try to discribe basis of this system :

Its simply based on weekly charts and its 100 % price following system ( i recommend not to add any indicators at early stage of optimization of this system but i welcome any suggestion for optimization if its based on money managment not based on indicators ) so to keep KISS its now a naked system as it as .

Rules for entry :

Trades as based on previous weekly close so look at close previous on weekly chart and decide you entry

1. If close previous is bullish then enter long on market open and place stop below last week low and trail stop to cost once gain > stoploss pips and vice versa for short

2. Try to use Martingale and Anti Martingale MM .

Will write further details after its converted into EA and some sort of progress .Its quite medium term to long term strategy but works consistently as its based on established momentum of weekly price action

[guillo]

Hi, thanks for posting this strategy, would like to see the continuation.

Thanks.

[gazuz]

Now that must require a BIG capital.. trading weekly on such a volatile market as the Forex..

[amarnath]

Originally Posted by gazuz

Now that must require a BIG capital.. trading weekly on such a volatile market as the Forex..

Yes but it offers better risk reward ration scenerio with more ability to survive long to medium terms

[bossxero]

Originally Posted by amarnath

Yes but it offers better risk reward ration scenerio with more ability to survive long to medium terms

I think some people should start working on it

@amarnath: do u trade this system?

[amarnath]

Yes but with some more filtered version and not in automated manner and only for order flow use algrothims

[scorpion]

hey bullion bulls, is this the system that you make consistent profits for at least 9 months?

Thanks for sharing man!