Forex trading strategy #18 (20 pips with GBPUSD after midnight)

Hi, No particular reason to be honest, I'm sure you'd get pretty similar results choosing the midnight close, with a 2 point target and a 20 point stop you're on a 50/50 once it kicks in but you've got momentum on your side following the usual inactivity leading up to midnight GMT.

I'm currently going through a similar set of results which looks at a 5 point break of the previous days highs and lows, again looking for 20 points with a 20 point stop. I've gone through 5 months so far and it's averaging 100 points. It seems more solid as it's only lost 3 times in a row twice, compared to 6 times in a row on the above strategy. The N/A are where it's either not kicked in the following day or the market has gapped over the weekend on metatrader.

Results as follows:

Date High Low Range Entry W/L Stop
01/04/2008 19979 19811 168 Short 1 20
02/04/2008 19874 19728 146 Long 1 20
03/04/2008 19898 19747 151 Long 2 -20
04/04/2008 19975 19758 217 Long 1 20
07/04/2008 20048 19907 141 Short 1 20
08/04/2008 19940 19832 108 Short 1 20
09/04/2008 19927 19663 264 Short 2 -20
10/04/2008 19791 19650 141 Long 1 20
11/04/2008 19842 19704 138 Short 2 -20
14/04/2008 19767 19682 85 N/A
15/04/2008 19894 19656 238 Short 1 20
16/04/2008 19756 19598 158 Long 1 20
17/04/2008 19804 19599 205 Long 2 -20
18/04/2008 19923 19689 234 Long 1 20
21/04/2008 19998 19881 117 Long 1 20
22/04/2008 20026 19775 251 Short 1 20
23/04/2008 19997 19744 253 N/A
24/04/2008 19972 19772 200 Short 1 20
25/04/2008 19815 19684 131 Short 2 -20
28/04/2008 19890 19675 215 Long 2 -20
29/04/2008 19965 19781 184 Short 1 20
30/04/2008 19913 19663 250 Short 2 -20
Total 120
01/05/2008 19894 19622 272 Long 2 -20
02/05/2008 19907 19710 197 Short 2 -20
05/05/2008 19896 19703 193 Short 1 20
06/05/2008 19783 19654 129 Short 2 -20
07/05/2008 19772 19634 138 Short 1 20
08/05/2008 19712 19501 211 N/A
09/05/2008 19620 19502 118 Short 2 -20
12/05/2008 19568 19458 110 Short 2 -20
13/05/2008 19634 19441 193 Short 2 -20
14/05/2008 19502 19418 84 Short 1 20
15/05/2008 19473 19362 111 Long 2 -20
16/05/2008 19500 19402 98 Long 2 -20
19/05/2008 19598 19441 157 Long 1 20
20/05/2008 19622 19452 170 Long 1 20
21/05/2008 19718 19479 239 Long 2 -20
22/05/2008 19736 19611 125 Long 2 -20
23/05/2008 19849 19685 164 Long 2 -20
26/05/2008 19852 19753 99 N/A -20
27/05/2008 19830 19756 74 Long 2 -20
28/05/2008 19845 19715 130 Short 2 -20
29/05/2008 19825 19704 121 Short 1 20
30/05/2008 19817 19670 147 N/A
Total -160
02/06/2008 19822 19684 138 Short 1 20
03/06/2008 19771 19595 176 N/A
04/06/2008 19742 19603 139 Short 1 20
05/06/2008 19638 19525 113 Short 1 20
06/06/2008 19596 19460 136 Long 2 -20
09/06/2008 19734 19534 200 Long 1 20
10/06/2008 19800 19671 129 Short 1 20
11/06/2008 19753 19517 236 Short 1 20
12/06/2008 19666 19489 177 Short 1 20
13/06/2008 19645 19432 213 Short 2 -20
16/06/2008 19512 19407 105 Long 1 20
17/06/2008 19687 19464 223 Long 2 -20
18/06/2008 19697 19468 229 N/A
19/06/2008 19609 19476 133 Long 2 -20
20/06/2008 19744 19578 166 Long 1 20
23/06/2008 19791 19697 94 Short 1 20
24/06/2008 19756 19585 171 N/A
25/06/2008 19723 19624 99 Long 2 -20
26/06/2008 19769 19655 114 Long 1 20
27/06/2008 19894 19713 181 Long 2 -20
30/06/2008 19952 19802 150 Long 2 -20
Total 80
01/07/2008 19966 19878 88 Long 1 20
02/07/2008 20006 19889 117 Short 1 20
03/07/2008 19973 19843 130 Short 2 -20
04/07/2008 19937 19798 139 Short 2 -20
07/07/2008 19846 19792 54 Short 1 20
08/07/2008 19827 19647 180 N/A
09/07/2008 19797 19664 133 Long 1 20
10/07/2008 19837 19670 167 N/A
11/07/2008 19835 19713 122 Long 1 20
14/07/2008 19958 19752 206 Long 1 20
15/07/2008 19962 19813 149 Long 1 20
16/07/2008 20158 19930 228 N/A
17/07/2008 20095 19958 137 Short 2 -20
18/07/2008 20071 19947 124 Short 2 -20
21/07/2008 19995 19904 91 Long 1 20
22/07/2008 20036 19905 131 Long 2 -20
23/07/2008 20074 19895 179 N/A
24/07/2008 20027 19901 126 Short 1 20
25/07/2008 19989 19815 174 N/A
28/07/2008 19977 19829 148 N/A
29/07/2008 19962 19840 122 Short 1 20
30/07/2008 19965 19759 206 Short 2 -20
31/07/2008 19843 19744 99 Long 1 20
Total 100
01/08/2008 19927 19779 148 Short 1 20
04/08/2008 19840 19726 114 Short 1 20
05/08/2008 19756 19598 158 Short 1 20
06/08/2008 19624 19519 105 Short 1 20
07/08/2008 19595 19466 129 Short 1 20
08/08/2008 19537 19419 118 Short 1 20
11/08/2008 19437 19144 293 N/A
12/08/2008 19255 19064 191 Short 2 -20
13/08/2008 19120 18950 170 Short 1 20
14/08/2008 19036 18637 399 Short 2 -20
15/08/2008 18787 18618 169 Short 1 20
18/08/2008 18683 18510 173 Long 1 20
19/08/2008 18722 18618 104 Short 2 -20
20/08/2008 18680 18538 142 N/A
21/08/2008 18672 18539 133 Long 1 20
22/08/2008 18793 18606 187 Short 1 20
25/08/2008 18780 18503 277 Short 1 20
26/08/2008 18589 18405 184 Short 1 20
27/08/2008 18531 18328 203 Short 1 20
28/08/2008 18487 18283 204 Short 1 20
29/08/2008 18401 18238 163 Short 1 20
Total 260
01/09/2008 0 N/A
02/09/2008 18127 17848 279 Short 1 20
03/09/2008 17938 17781 157 Short 1 20
04/09/2008 17840 17665 175 Long 2 -20
05/09/2008 17859 17552 307 Short 2 -20
08/09/2008 N/A
09/09/2008 17974 17469 505 N/A
10/09/2008 17705 17505 200 Short 1 20
11/09/2008 17676 17473 203 Short 2 -20
12/09/2008 17609 17445 164 Long 1 20
15/09/2008 18129 17763 366 N/A
16/09/2008 18129 17763 366 Short 1 20
17/09/2008 17996 17730 266 Long 1 20
18/09/2008 18245 17785 460 Long 2 -20
19/09/2008 18276 18089 187 Short 1 20
22/09/2008 18386 17913 473 Long 1 20
23/09/2008 N/A
24/09/2008 18635 18469 166 Short 2 -20
25/09/2008 18605 18457 148 Long 1 20
26/09/2008 N/A
29/09/2008 N/A
30/09/2008 18341 17957 384 Short 1 20
Total 100

Rich

Hi Rich

great strategy? Any particular reason you've chosen 00:15? why not say 00:00GMT or 06:00 GMT or any other starting point?

thanks

Great Strategies ...

Regards;

Manus168