Hans 123 breakout system

[oilfxpro]

Hi folks

I am posting this system here hoping many of u will suggest improvements to this system.It is a profitable if used as part of a portfolio of strategies.Most people have misused it by overleverage , and blown their accounts.If there are improvements I will post them on the orignal thread at Strategy builder FX and hopfully we can give something back to the creators of this strategy.

The system relies on a break of the key morning and afternoon support levels

StrategyBuilderFX

Simple Combined Breakout System for EUR/USD and GBP/USD
Determine the 06.00 CET – 10.00 CET High Low on EUR/USD and GBP/USD
Determine the 10.00 CET – 14.00 CET High Low on EUR/USD and GBP/USD
Set BuyStop at High + 5 pips and SellStop at Low - 5 pips for both timeframes and both currencies
Set Target Price at entry + 80 pips for EUR/USD and entry + 120 pips for GBP/USD
Set StopLoss at entry - 50 pips for EUR/USD and entry - 70 pips for GBP/USD. If the other side of the breakout is within 50 pips for EUR/USD or within 70 pips for GBP/USD then the StopLoss will be that level (Longtrade: SL = Low range - 5 pips = SellStop; Shorttrade: SL = High range + 5 pips = BuyStop)
Move the SL to breakeven after a gain of 30 pips for EUR/USD and a gain of 40 pips for GBP/USD
If a certain position is taken and price turns agains you and it breaks the other side of the breakout channel then turn. If the breakout channel is broader then the stoploss first the stoploss will be hit. If the breakout channel is narrower then the stoploss then hitting the other side means that you have to turn your position. There is only one turn per time frame possible. This rule is a result of all previous rules. You can skip this rule if you want.
At 24.00 CET all orders expiring and close all trades at market. On Friday we do the same at 23.00 CET.
This link displays the time in every major city in the world: Qlock - World Clock. I am using CET time (Amsterdam, Frankfurt).

OILFXPRO

 

[oilfxpro]

Here are 2007 results on euro/usd

OILFXPRO

 

[portomar]

am i reading this right? a profit of 400 approx for a year??

 

[oilfxpro]

am i reading this right? a profit of 400 approx for a year??

In the past few years this mechanical system made around 400 pips per pair *2 *2 sessions= 1600 pips per year

So loads of room for improvements

A profitable strategy is nothing to be sneezed at , in a market where are 95% are unprofitable

OILFXPRO

 

[oilfxpro]

Hi

here are some backtests for previous years for EURO USD

OILFXPRO

 

[oilfxpro]

Hi

here are some backtests for previous years for GBP USD

oilfxpro

 

[chrisknight108]

If you like Hans 123 you may like this system too:

www.dnafxtrading.com

they have backtest results from 2001 to 2008 as well as live results up to present time

 

[thirdtimemagic33]

Do you have any personal experience with dnafxtrading.com ? If you are currently using it or testing it, I would be interested in the results. Thank you.

 

[dkv023]

strategy steel alive?