Many thanks for your time and input rog1111, I'll stick with the 1-8am for now
Hey that's a good average, well done !
The problem with trying to backtest using close stops like 10 pips is that my 12 month spot data is hourly. Since a lot can happen in an hour, in the first hour, you can't be sure whether your stop would have been hit, and you have to make assumptions, which is why I have sometimes mentioned best/worst scenario.
I have given below some "best" scenario results using your criteria for EUR:$, from hourly data, and although they may be unrealistic, you are unlikely to have done better.
April = - 220
May = - 83
June = + 416
If I could lay my hands on some longer term 1/5/10 minute data then that would help. I have some futures data which I am still looking at, but I don't regard it as adequate for testing GBP, but maybe EUR. I find that the 2 hour restriction does help to take out quite a few losers.