Breakout Trading Systems

[jammixmaster]

Does anyone out there trade a profitable breakout system? If so what are your results? Also, is it manual or automated? I'm looking to start trading breakouts and I'm wondering if it's better to go manual or automated.

 

[Vaco]

loads of threads on this, just do a search, there are a few active threads with this as the theme.

 

[oshaban]

I use such a system. It is a profitable one. The attached graph is the statement summary for my system. It is a little bit complicated, so, I automated it and programmed an EA for it.
Note that, losing trades are more than the profitable one, but the system is still gaining a very good profit because it uses a strict MM.

 

[shadowninja]

That's the thing about the breakout game. You'll get lots of failures because they're in fact whipsaws BUT the good ones will soar... snag is, you need to learn how to manage the trade... the old "cut your losses, let profits run" is so important here.

 

[forexnetworth]

I use such a system. It is a profitable one. The attached graph is the statement summary for my system. It is a little bit complicated, so, I automated it and programmed an EA for it.
Note that, losing trades are more than the profitable one, but the system is still gaining a very good profit because it uses a strict MM.

Hi Oshaban,

Could you say which system you are using to trade breakouts. Thank you.

forexnetworth
www.forexnetworth.blogspot.com

 

[jaspertrademaster]

Go with manual. You feel more in control.

 

[jammixmaster]

Yeah, that's what I'm probably going to do, just manually trade break out systems. I like the donchian break out, but thats mainly a long term system and I want to foucs on breakout TRADING, not breakout investing.

 

[Claudia123]

That's the thing about the breakout game. You'll get lots of failures because they're in fact whipsaws BUT the good ones will soar... snag is, you need to learn how to manage the trade... the old "cut your losses, let profits run" is so important here.

Sort of disagree Ninja - I get 75% + wins on breakout trading. Buying the breakout you should be straight in profit with the trend you buying/selling into. That said I only look for 20 points quick gain. You are right though, that when it soars it soars.

Do you take small points on high win ratio or big points on low ratio ?? All down to the individual I guess.

 

[jammixmaster]

Claudia123, what breakout system do you trade?

 

[forexnetworth]

Timeframe

Sort of disagree Ninja - I get 75% + wins on breakout trading. Buying the breakout you should be straight in profit with the trend you buying/selling into. That said I only look for 20 points quick gain. You are right though, that when it soars it soars.

Do you take small points on high win ratio or big points on low ratio ?? All down to the individual I guess.

Hi Claudia123,

Which timeframe do you trade breakout on and do you trade a particular currency pair? Thank you.

forexnetworth
www.forexnetworth.blogspot.com

 

[shadowninja]

Sort of disagree Ninja - I get 75% + wins on breakout trading. Buying the breakout you should be straight in profit with the trend you buying/selling into. That said I only look for 20 points quick gain. You are right though, that when it soars it soars.

Do you take small points on high win ratio or big points on low ratio ?? All down to the individual I guess.

I knew you'd say that as soon as I saw you disagreed.

 

[Claudia123]

Hi Claudia123,

Which timeframe do you trade breakout on and do you trade a particular currency pair? Thank you.

forexnetworth
www.forexnetworth.blogspot.com

Trade cable breakout of overnight session - long at 7 am. Good start to week :clap:

 

[Claudia123]

I knew you'd say that as soon as I saw you disagreed.

'Sort of disagree'

 

[jammixmaster]

That still doesn't answer my question as to what breakout system you trade

 

[jammixmaster]

I'm thinking of trading the donchian 4 week breakout system, but shorten it to a 7 day breakout.....what do you guys think?

 

[Claudia123]

That still doesn't answer my question as to what breakout system you trade

I trade my breakout strategy. (Can make a silly name up for it if you want). Very simple - if the market goes higher or lower than the high or low of the overnight - a breakout. Check out GBP/USD this morning broke out at 7 am GMT and a nice 70 + points if you wanted them with no indicators !!!

 

[neil]

cable

breakout

 

[Claudia123]

Not difficult huh Can't see the point of the ma's on your chart though Neil.

 

[neil]

true

Not difficult huh Can't see the point of the ma's on your chart though Neil.

Very true

MA's left over from my experimenting ( Yeah- I wish I was tidier but I can be bit of a tit at times) - ignore them since they are not needed

 

[Claudia123]

I hate indicators/ma's - but have a look on cable on 60 min - close of the 8 am bar with 60 ma. That was a good buy signal. Didn't take it but wish I had - that could go on and on.