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Thread: Forex Breakout System

  1. #1

    Default Forex Breakout System

    Hi Funyoo!

    I have just read about the Forex Breakout System and wanted to know if it can made into an EA.

    RULES:

    Long --
    * Price above 200 SMA
    * Awesome Oscillator is green
    * Stoch Histogram is green

    Short --
    * Price below 200 SMA
    * Awesome Oscillator is red
    * Stoch Histogram is red

    (With the option of turning the awesome oscillator and histogram on or off - true/false)

    MM & Exit Strategy --
    * Open 2 trades that risk together no more than 5% of the total available balance
    * Set a stop loss of -100 pips for both trades
    * Trade 1: Set a TP of 50 pips
    * Trade 2: Set a TP of 100 pips
    * When Trade 1's TP is hit, set Trade 2 to breakeven.

    Thanks,

    Nicky
    Last edited by bnbb2004; 11-10-2008 at 01:04.

  2. #2

    Default

    Hello bnbb2004,

    Have you manually traded this? If so can you show it has been profitable or can you provide a link to where people have traded this manually to show it is profitable? I am not being critical just seeing if you have manually traded this system.

    Regards,
    Jeff

    Quote Originally Posted by bnbb2004 View Post
    Hi Funyoo!

    I have just read about the Forex Breakout System and wanted to know if it can made into an EA.

    RULES:

    Long --
    * Price above 200 SMA
    * Awesome Oscillator is green
    * Stoch Histogram is green

    Short --
    * Price below 200 SMA
    * Awesome Oscillator is red
    * Stoch Histogram is red

    (With the option of turning the awesome oscillator and histogram on or off - true/false)

    MM & Exit Strategy --
    * Open 2 trades that risk together no more than 5% of the total available balance
    * Set a stop loss of -100 pips for both trades
    * Trade 1: Set a TP of 50 pips
    * Trade 2: Set a TP of 100 pips
    * When Trade 1's TP is hit, set Trade 2 to breakeven.

    Thanks,

    Nicky

  3. #3

  4. #4

    Default

    AZJeff,
    No, I have not manually traded this system...I just recently read about it.

    Funyoo,
    Thanks Funyoo for the EA. :-)
    Last edited by bnbb2004; 11-11-2008 at 01:58.

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100, 100 pips, backtesting, breakeven, breakout, expert, forex, funyoo, oscillator, pips, profitable, sma, stoch, stop, strategy, system

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