Forex trading strategy #7 (Simple breakout System)

Hi George,

Yes you got the time right, but I made a mistake in my previous post (which I have already corrected). Therefore, I'd suggest checking up from time to time with Forex Market hours. Choose GMT -8 Pacific time for your area and see the open and close hours for the markets.

Breakout strategies are often tailored to a specific time of the day, but if you find a new approach, that's only beneficial. 1 min scalping can be used during any time of the day or night.

Regards,
Edward

Hi Edward

Is it possible for an EA on this system

Regards

Roger

Hi Roger,

Unfortunately I never created any, I don't know if it is possible for this system.

Regards,
Edward

Hi Edward, you are doing a great job! Thank you so much for sharing these strategies.
I have started trying all the strategies. Personally, I want to ask you one question. Which strategy you have found to be most profitable in this site?

It so much depends on the market. If it is willing to give you good pips it will, if not, even the best strategy is helpless..
Try advanced #3 and 5 first. However, do move on and test lots of other interesting ideas and setups from Simple and Advanced Forex systems, this will help you to find your own approach to trading Forex and hopefully to come up with even greater system!

Regards,
Edward

Thanks Ed.this is coming real handy,i mean i have been brainstorming on how to combine BO with the news ,and this has really helped,i however will be testing shortly and will let you know of its results.And trust me,the first strategy without the bollinger is quite appropriate,keeping it simple really shows how effective a strategy is..Once more i will keep you Posted.D.B fx

A fast one Ed.,if the breakout candle on the upper limb of the channel is actually Bearish but still falls whole out of the region,do we still go long or better still seek a reconfirmation with the next 5mins candlestick .And does it also prove potent at the lower limb of the channel given the same requirements.Hope am not asking too many questions.Thanks Ed.

You can always appoint another test for the market before putting your money in it. In case you saw a signaling candle above the channel that appears truly bearish and spreads doubts, be suspicious. Then instead of jumping right in, wait for another 5 min to pass by, or set a Buy order just above the signaling candle right away.

Same rules apply for downside breakouts.

Regards,
Edward