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Breakout - 15 Minutes a day - 10-20 pips - Every day - 95% profitable trades

This is a discussion on Breakout - 15 Minutes a day - 10-20 pips - Every day - 95% profitable trades within the Forex Strategies & Systems forums, part of the Forex Markets category; How did this one go?...

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Old Sep 20, 2009, 6:29pm   #65
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Re: Breakout - 15 Minutes a day - 10-20 pips - Every day - 95% profitable trades
How did this one go?
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Old Sep 21, 2009, 6:02pm   #66
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Re: Breakout - 15 Minutes a day - 10-20 pips - Every day - 95% profitable trades
Sorry I've been really slack at back testing. I just noticed ODL have stopped giving me free data on my demo account. Anyone know someone else good to use?
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Old Sep 29, 2009, 4:47pm   #67
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Re: Breakout - 15 Minutes a day - 10-20 pips - Every day - 95% profitable trades
The stats come out pretty mixed, certain pairs trend straight up, others go straight down. I was using mainly a 50pt SL and 50pt TP, which would indicated that for sme pairs you could reverse the trading strategy and buy on the break of the previous day low, and sell on the break of the previous day high.
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Old Sep 30, 2009, 5:20pm   #68
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Re: Breakout - 15 Minutes a day - 10-20 pips - Every day - 95% profitable trades
AUDUSD SL 30 TP 50. An intersting result, masses of profitable trades, but also masses of losses. I'm not sure this is a viable technique.



Bars in test 2600
Ticks modelled 15015999
Modelling quality n/a
Mismatched charts errors 9886
Initial deposit 10000.00
Total net profit 31922.60
Gross profit 318288.20
Gross loss -286365.60
Profit factor 1.11
Expected payoff 15.42
Absolute drawdown 9755.80
Maximal drawdown 17969.80 (98.66%)
Relative drawdown 98.66% (17969.80)
Total trades 2070
Short positions (won %) 928 (29.63%)
Long positions (won %) 1142 (31.44%)
Profit trades (% of total) 634 (30.63%)
Loss trades (% of total) 1436 (69.37%)
Largest
profit trade 589.60
loss trade -252.80
Average
profit trade 502.03
loss trade -199.42
Maximum
consecutive wins (profit in money) 6 (3051.20)
consecutive losses (loss in money) 23 (-4576.00)
Maximal
consecutive profit (count of wins) 3051.20 (6)
consecutive loss (count of losses) -4576.00 (23)
Average
consecutive wins 2
consecutive losses 4
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Old Oct 1, 2009, 10:26pm   #69
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Re: Breakout - 15 Minutes a day - 10-20 pips - Every day - 95% profitable trades
This is sadly going to fall apart when you try to trade it live.
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Old Oct 4, 2009, 8:46am   #70
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Re: Breakout - 15 Minutes a day - 10-20 pips - Every day - 95% profitable trades
Nothing wrong with the logic here since you are building on momentum, but with most methods you need some sort of filter. For starters try taking longs only when above the 50ma and sorts only when below the 50ma. Also I wouldn't take the same direction trades for more than 3 consecutive days. Just throwing out ideas here. Maybe someone could add code to Bigtent's ea and test different types of filters.

Peter
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Old Oct 11, 2009, 1:29pm   #71
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Re: Breakout - 15 Minutes a day - 10-20 pips - Every day - 95% profitable trades
5 pips?, work with London or New York Markets and it could take some minutes to make that!.

Quote:
Originally Posted by Garbanzo View Post
This is an extremely simple breakout system and it works as follows:

If previous day high is exceeded by 3 pips + spread = buy TP = 5 pips SL = 10 pips
If previous day low is exceeded by 3 pips + spread = sell TP= 5pips SL = 10 pips

Works on the principle that once a breakout occurs,its most likely to travel quite a bit in the direction of the breakout due to the sudden surge of market orders and other entry orders pilled up at these levels.
5 pips is conservative,the price may and does travel much further but this is a very easy way to make consistent profits - almost every day.
Due to the tight stops I use extreme amounts of leverage,I risk as much as 5% of my account per trade.

Stick to the pairs with the lowest spreads for obvious reasons.

Happy piping!
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Old Nov 24, 2009, 9:01pm   #72
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Re: Breakout - 15 Minutes a day - 10-20 pips - Every day - 95% profitable trades
Try 120 t/p with 40 s/l at a break of 20 points on gbp/jpy. Surprisingly 100% annual return for past 3 yrs.
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