Forex trading strategy #7 (Simple breakout System)
Submitted by Edward Revy on June 18, 2007 - 07:12.
The idea behind this simple Forex trading system is to capture an early move of the price when it starts to establish its new direction/trend for the day.
As we know the Frankfurt market opens at 2:00 am EST (which is 7:00 am GMT), then an hour later the other giant - London market opens at 3:00 am EST (which is 8:00 am GMT). The European session is the first major session for each coming day.
So, what do we do?
We start with 1 hour time frame, preferred pair - GBP/USD and no indicators.
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To Edward and all web participants............ Does anyone know of , or have
experience with the Big Ben strategy by
Kristian Kerr In Currency Trader magazine Sep't. 04 ?? ?
Fraser
Hi Fraser,
I've read about Big Ben strategy before, however never done full scale testing.
Regards,
Edward
Hi everyone,
I use this strategy for a while now, only i use it with indicators using on my metatrader platform. If you follow the above rules you can gain a lot of pips. If you implement some extra's you can make more. I use an automatic pivot calculator and the pivot lines are my target. I also have ema 3 (close) and ema 5 (open).
If those lines are wide open when you reach a pivotpoint. You don't have to close your trade.
If there is a way to post my metatrader indicator i will do that, let me know how.
Hi PatrickB,
Thank you for a good review and tips.
In order to add an indicator, please send it to
and we will gladly post it here. Thank you.
Happy trading!
Edward
Hi, can anybody tell me the time which London market open if the DST (Daylight saving) is started in GMT and if not?
DST starting around march 30 every year (London+1hour)
-Now the London market opens at ?? GMT
DST ending around October 26 every year
-Now the London market opens at ?? GMT
Best Regards.
Hi,
when DST time starts London market also operates in DST.
when DST time ends London market operates in GMT.
An application at Forex market hours may be helpful in finding the right timing for all Forex markets.
Regards,
Edward
The system from PatrickB can be found at:
Patrick's trading system
Happy Forex trading!
Edward
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