Advanced system #4 (Early bird Breakout System)

Hi Manzoor,

Yes we can trade AUS/USD, USD/JPY and GBP/JPY pairs with this strategy.
Ideally we want to see as narrow range between High and Low as possible, which would mean that a breakout is due; and of course avoid too wide ranges as they also require wider stops to be set.

By using this common logic you may start testing those pairs.

For example, for the Yen we have some first fundamental indicators released at 1-2 am EST, which may move the market by decent amount of pips in early hours and thus make our evaluation range too wide...

Regards,
Edward

Hi Edward,

I have used this strategy for 21 trading times with EUR/USD & GBP/USD of which I won a net profit of 92% & 78% respectively.
Thank you so much for all your contributions to our trading time.
I am afraid to ask if I could use this same strategy to trade AUS/USD,USD/JPY and GBP/JPY? How could you help with trading these pairs?

My regards,

Manzoor.

Hi Naspharmz,

We take a specific time zone - it is Eastern Time zone (GMT-5:00), it is New York time.

Regards,
Edward

Hi Edward!
Does that mean we just have to count 5candles(irrespective of the time zones)from day open on hourly chart before the trade for the day could be setup.

Please am i correct?

MY regards

Naspharmz

Hi Faiez,

I have no such one ready that would fit your request. Thank you for a suggestion, can't promise anything right now, but I'll write some notes for future research on this subject. Thank you.

Regards,
Edward

Hi Edward,

Thank you so much for all contributions to our trading career!
please could you give me a strategy that involves no indicator to trade gold, GBPJPY and USDJPY.

MY REGARDS
FAIEZ

good one. i am yet to post my findings. keep it up

Thanks Revy for your invaluable services to enriching humanity.I have tried this system severally and I think it has 70% success rate.Though simple yet very potent.
Isioma

Hi,
I'd simply use Pivot Points for additional confirmation.
E.g. when we get a Sell signal, we should be below Pivot Point; Buy signal - above PP.
Regarding doji candles, I don't think they should be given any particular value here.

Regards,
Edward

Hi Edward,
First off I would like to say thank you for sharing all of these great strategies. I have learned more reading through your site than I could have ever possibly learned on my own. I have a couple questions I was hoping you could answer. I know that this seems to be a very effective strategy by itself but could it be complimented by another strategy included on your site. If so, which one? Also, I have noticed some interesting things happen when on of the candlesticks within the hours we are taking into account is a doji. If one of our highest highs or lowest lows is a doji should we stay away?

Hi Andris,

If the target is reached within first couple candles I close all remaining orders; well, at times I even also say "Thank you" :)

Regards,
Edward

Dear Edward,

What we do with a remaining open orders after first one did reach profit target within first couple candles, should we close all trades or continue until 12:59EST.

And no need to comment my questions on strategy #5, now is clear.

Andris

Hi Steve,
I prefer Trend lines break out system.

Regards,
Edward.

Dear Edward,

Of all your price based systems that catch moves prior to volatility....which one do you think is the most reliable? Or which do you perfer in your own trading?

Many thank!

Steve

Current Forex system is not immune to triggering both orders and ending up with losses for the day. On what exact days one can expect this to happen and how often, it can't be foreseen. No matter how much data one collects from the past it won't guarantee future performance.

If you'd like to filter out some days, try avoiding Mondays' trading. But overall this system was made to trade throughout the whole week non stop.

I like this Forex system and I used it in the past with some good results, but now I don't really have data to backup system performance.
Let's hear what other traders have to say.

Kind regards,
Edward