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Best Forex Trading System

This is our take on the best Forex Trading System .

London Morning BREAKOUT TRADE

THIS TRADE CAN ONLY BE APPLIED TO GBPUSD .

RULES:

    1. Use a 60 MINUTE CHART as you plan this trade
    2. Identify the candle that represents 8am-9am London time.
    3. After the close of the 8am-9am London time candle, proceed with the following:
    4. For your BUY ORDER:
      Place an ENTRY STOP ORDER (on the BUY/ASK side) 15 pips ABOVE the wick high of the 8am-9am London time candle.
    5. Set your PREDEFINED LIMIT ORDER for profit 110 pips above the wick low of the 8am-9am London time candle for the GBPUSD. This is your limit for    your buy order.
    6. For your SELL ORDER (your straddle):
      place an ENTRY STOP ORDER (on the SELL/BID side) 10 pips BELOW the wick low of the 8am-9am London time candle.
    7. Set your PREDEFINED LIMIT ORDER for profit 110 pips BELOW the wick high of the 8am-9am London time candle for the GBPUSD. This is your limit for your sell order.

 

***NOTE*** after you have been taken in the market and your limit has been filed, you need to manually cancel the OTHER ENTRY STOP ORDER / PREDEFINED LIMIT ORDER (the other half of the straddle).
STRATEGY INFORMATION:

      1.The majority of all FOREX transactions occur in London between 8am-4pm London time.
      2. Through our back test results, the majority of the time the market may break out of the 8am-9am trading range to the north or south.
      3. Through our back test results, the average daily trading range after the breakout is approx 120 pips for the GBPUSD.
    4. ***NOTE*** for proper time conversion, convert London time to your local time zone. Please take into account daylight savings when it applies.

 

 

LONDON_STRADDLE

 

 

This is our take on the best Forex Trading System . Please feel free to contact us with any questions.


 

 

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