Last edited by cmeldatrader; 02-19-2010 at 13:56.
is it possible to have an ea that follow the strategy above?
Is Asian hours Range Breakout method entering European start also a myth?
YouTube - Forex Trading Strategy - Breakout or Fakeout? How to Tell The Difference
Basically place Buy stop at Asian high and Sell stop at Asian lows.
Enter 2 separate lots at same time.
Set first lot's Stop loss level away from entry at half the total Asian hour range.
Set 2nd lot's Stop loss level way from entry at the other end of the total range.
i.e. the other end buy/sell stop level.
Take profit of 1st lot at total distance of Asian hour range and trigger a trailing stop (of half the range distance) for 2nd lot simultaneously.
Video shows EurUsd but it could work better on GbpUsd pairs...
Perhaps an EA could be created to verify this...
Last edited by scalpmaster; 02-15-2010 at 23:36.
it would be ideal to have this EA place trades and then you can optimize the SL, TP, & the Hour_kol_vo. Using this you might be able to figure an appropriate time range directly after the session close to trade with SL & TP of X & Y. We can easily make 100% model for specific PT and SL.