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

Jul 23, 2009
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#1
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!
 
Jul 23, 2009
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#4
5 pips??? Thought you said "travel quite a bit in the direction".
As I said,extreme amounts of leverage,I often buy 50 lots with this strategy,that is like making 250 pips on a single lot,you get my point,due to its high success ratio you can afford extreme amounts of leverage and the stops are always tight,if you cant appreciate 5 pips then that's your problem.
 
Jul 23, 2009
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#5
welcome garb,

surely you can do better then 70 pips a month:cool:
Yes ofc you can if you wanna babysit the position,but I make a nice income just from this strategy,as I said,odds stacked in your favor,leverage to the hilt.
And I also do 4 currency pairs,not just 1 - diversification of sorts in case one just doesn't work out.
 

pvisser

Active member
May 8, 2008
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#6
This strategy seems really really simple! How did you come up with it?

Do you set pending orders when you wake up in the morning or do you wait until the middle of the night when the daily bars change over?
 

Vaco

Well-known member
Apr 17, 2004
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#8
As I said,extreme amounts of leverage,I often buy 50 lots with this strategy,that is like making 250 pips on a single lot.
I'ts also like losing 500 pips on a single lot. do you get my point(n)

if it works for you though that's great. I wasn't flaming you i started with welcome but you seem to have taken offence to mine and shadows comments and I fear that if your that easily offended you wont like it here.
 
Likes: shadowninja
Jul 23, 2009
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#10
I'ts also like losing 500 pips on a single lot. do you get my point(n)

if it works for you though that's great. I wasn't flaming you i started with welcome but you seem to have taken offence to mine and shadows comments and I fear that if your that easily offended you wont like it here.

Yes,but when probability is on your side and when you are "diversified" on 4 pairs its not really such a great issue.
Sure,you could get a day where all 4 pairs go against you and you lose 40 pips and you get a margin call or you get wiped out.
I rarely trade to the hilt with 50 lots but I am just saying,since the odds are stacked so much in your favor you can afford to take allot of risk to.
I rarely trade with such large positions but I was just giving it to you for illustration purposes,trying to make you realize that when 5 pips is "certain" its not that bad at all,you can make a real living out of it - that's what I do.
I am sorry If I offended you.

*Hugs elefteros*

Btw,eisai ellinas? :p
 
Jul 23, 2009
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#11
This strategy seems really really simple! How did you come up with it?

Do you set pending orders when you wake up in the morning or do you wait until the middle of the night when the daily bars change over?
I am based in Eastern Europe and my broker (FXCM) uses 5 P.M EST as the start and end of the day so that's 12pm for me.

Oh and yes,I do use entry orders
 
Jul 23, 2009
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#12
Try and avoid setting orders in the opposite direction when theres an obvious trendline just above or bellow the candle because the price might be penetrated and then just jump back right away before touching your 5 pip take profit.
 

Vaco

Well-known member
Apr 17, 2004
2,134
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#15
Yes,but when probability is on your side and when you are "diversified" on 4 pairs its not really such a great issue.
Sure,you could get a day where all 4 pairs go against you and you lose 40 pips and you get a margin call or you get wiped out.
I rarely trade to the hilt with 50 lots but I am just saying,since the odds are stacked so much in your favor you can afford to take allot of risk to.
I rarely trade with such large positions but I was just giving it to you for illustration purposes,trying to make you realize that when 5 pips is "certain" its not that bad at all,you can make a real living out of it - that's what I do.
I am sorry If I offended you.

*Hugs elefteros*

Btw,eisai ellinas? :p
I wasn't offended mate, but i thought you was by your aggressive response knowing now that you are Greek, katalava you are just been Greek:p (i shouldn't assume just cause you speak the lingo but i will)

What gave me away, user name maybe;)

ok serious advice now re, if your doing this for your bread move away from fxcm and go with someone like Interactive brokers much lower spreads, You could add the diff to your target and make 6,7 pips a day.

p.s where in eastern europe gives you an est -5hours time?