Advanced system #7 (EUR/USD breakout system)
Submitted by User on November 3, 2007 - 14:43.
We've created a new page for discussions of the new Forex System that was kindly posted by our Visitor. Thank you for taking time and efforts to share this Forex system with us!
Edward
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What is ur comment on this similar system
time frame 1 hour
ema(144) and ema(169) and sma(400)
System uses highest high and lowest low of candles from 1.00 GMT to 6.00 GMT
conditions needed to make trade:
1- Entry price must be away from Vegas tunnel and/or SMA(400) at least 35 points (rebound zones)
2- Orders are set after the close of candle 6.00 GMT
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It was an example with EUR/USD, but you can use any currency pair.
Best regards,
Edward
Hi Edward. First of all, thank you for all your posts.
I would like to know what happen when the target (TP) is not reach during the day. Do you close your order at same hour or do you live run the order untill take tp or sl? If the answer is yes what happen with the next order (next day)? Do you place a order or not?
Regards
Enrique
Hi Enrique,
When TP is not hit, a trade will be left overnight. In the morning check if the trend is still valid according to Vegas tunnel.
If everything is fine, calculate numbers for another entry order and then if you want, place a new order, while for the old one, make adjustments for TP and SL according to new numbers, and let the old order run one more day. If the targets are not hit, repeat the same procedure the following day.
Best regards,
Edward
Hi Edward,
My system is using GMT+2 time zone. So should I look at 5-10 GMT+2? (equivalent to 3-8GMT).
Thanks,
Dummy
Hi Dummy,
The range, as I saw, is 3 - 8 am GMT.
So, if your system's time is GMT + x then you should look at
3+x - 8+x system time. (In your case 5 - 10 am)
hi,
I was wondering if anyone hs been using this system or similar recently? Looking at a quick backtest it appears to have performed quite well over the past few weeks. It would be good to hear if anyone has had any longer-term experience in trading this system.
Thanks,
Tristan.
Looks really interesting.
Has anybode done a complete backtest to it? what did it reveal?
Thanks
Fredrik
Is this system still profitable? Anyone did any back-testing? Would e great to know the results.
Edward, I must thank you for this wonderful site. There are no words to describe the wonderfulness of this site. 4 thumbs up!!!
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