OILFXPRO oil breakout system

oilfxpro

Well-known member
409 9
Hi Gals

This strategy produced 1891 cents profit from 1/1/2007 to 16/2/2007 ,
for 50 trades ,with a drawdown of 200 cents,and average average profit per trade of 37.82 cents....................1750 cents net after spreads over 35 working days = 50 cents per working day

Determine the 10.00 CET – 14.00 CET High Low on QM mini crude.Place trade at 14.00 cet

Set BuyStop at High + 10 cents and SellStop at Low - 10 cents

Set Target Price at entry + 100 cents (exit only on exit rules or if stops hit)

Set StopLoss at entry - 70 cents

. If the other side of the breakout is within 70 cents then the StopLoss will be that level (Longtrade: SL = Low range - 10 cents = SellStop; Shorttrade: SL = High range +10 cents = BuyStop)

Move the SL to breakeven after a gain of 50 cents

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. Three turns per day is maximum limit


If the morning channel is greater than 100 cents do not trade.

EXITS
Profitable trades only .Exit when 4 wma crosses /8 wma on 30 m charts and remains crossed for 2 consecutive 30m bars
or stops are hit either at breakeven or otherwise or
At 21.00 CET all orders expiring and close all trades at market. On Friday we do the same at 20.00 CET.

This link displays the time in every major city in the world: Qlock - World Clock

Brokers:Any futures crude broker

There is already a metatrader Expert Adviser already for this system so please do not copy my work that I distribute freely and do not use it for commercial exploitation

oilfxpro
 

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oilfxpro

Well-known member
409 9
Here is a chart

Look at the hourly bar and above below the opening range ,go with the flow.

Reverse yoour position if the market reverses and go with the flow

Very simple

OILFXPRO
 

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TWI

Senior member
2,516 246
oilfxpro,

Thanks, this is an interesting thread. I have not read the logical trader book but I did work out years ago that range breakouts, once you get the timeframe and exit sorted are a very consistent winner. I have been using a crude system at a different time of day to yours but it is a phenomenally consistent winner. This methodology also works well in FX.
I am suprised by the S&P system, I always found mean reversion far better than breakout trades in that market.
 
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oilfxpro

Well-known member
409 9
oilfxpro,

Thanks, this is an interesting thread. I have not read the logical trader book but I did work out years ago that range breakouts, once you get the timeframe and exit sorted are a very consistent winner. I have been using a crude system at a different time of day to yours but it is a phenomenally consistent winner. This methodology also works well in FX.
I am suprised by the S&P system, I always found mean reversion far better than breakout trades in that market.
anychance of sharing it.Most people use empty words on a message board.......words like I am a professional trader....................look closely beneath and all you see is a an ordinary person trying to explain himself

As I said in my journal ACTION SPEAKS LOUDER THAN WORDS and your action of proof will speak louder than your words ........no ifs or buts just action .............post the results with proof

http://www.trade2win.com/boards/showthread.php?t=27207

http://www.trade2win.com/boards/showthread.php?t=23866

I can make all sorts of statements on message boards like my professional system is 20 times more profitable ,but the real thing is proof and I will happily beleive you and follow your trades

Thank You

OILFXPRO
 

Jack o'Clubs

Experienced member
1,554 342
anychance of sharing it.Most people use empty words on a message board.......words like I am a professional trader....................look closely beneath and all you see is a an ordinary person trying to explain himself

As I said in my journal ACTION SPEAKS LOUDER THAN WORDS and your action of proof will speak louder than your words ........no ifs or buts just action .............post the results with proof

http://www.trade2win.com/boards/showthread.php?t=27207

http://www.trade2win.com/boards/showthread.php?t=23866

I can make all sorts of statements on message boards like my professional system is 20 times more profitable ,but the real thing is proof and I will happily beleive you and follow your trades

Thank You

OILFXPRO
I think you've badly misinterpreted the spirit of TWI's post. TWI is one of the few members of these boards who walks-the-walk and has probably forgotten more about trading than you've ever learnt. A bit of friendly participation wouldn't go amiss. I'm sure TWI has broader shoulders and thicker skin than would allow him to get wound up by your response, but probably not a great idea for an unproven newbie to come onto a forum and start slagging off the more respected regulars...
 

oilfxpro

Well-known member
409 9
I think you've badly misinterpreted the spirit of TWI's post. TWI is one of the few members of these boards who walks-the-walk and has probably forgotten more about trading than you've ever learnt. ..
I hope he accepts my apologies and he will pass on his great wisdom to me in due course.

I misinterpretated the spirit of his post

OILFXPRO
 

Hook Shot

Senior member
2,110 51
Hi Gals

517 profit points in the oil pitts yesterday

OILFXPRO
Well done OFP..
Interesting today as oil hit 4d pbk zone, looking weak and at near term uptrend ...
then a pipeline just happened to blow..... the world is full of coincidences... :LOL: ;)
 

oilfxpro

Well-known member
409 9
Hi folks

The OILFXPRO OILBREAKOUT TRADING SYSTEM HAS MADE $3,042 @$2 per point since 12 th november , 14 working says .

The total points made is 3042/2 = 1521 points

Over 500 points per week .I am counting these points on the basis scalpers and other traders who trade s and p count their points

Today 62 points @ $2 per point

OILFXPRO
 

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