Thursday, July 19, 2007

Forex Breakout System 17.00 wib

This is the one I use to get profit in forex trading.
Trading Setup :
Time Frame : 1 hour
Currency : Best on GBP/USD
This system doesn't need any indicator.

How to work :
Find highest and lowest price at 12.00 wib till 16.59 wib.
At 17.00 wib set 4 entry order (multiple contract), 2 for buy stop in highest price and 2 for sell stop in lowest price.

Set target in 2 ways, first target is absolute 10 pip, and second is floating target with change stop loss to open posisi (BEP) in hope that profit will continue.

Setting Stop loss :
If buy order, then stop loss is in lowest price -3 pip.
If sell order, then stop loss is in highest price +3 pip.

Be consistent with stop loss, even price change direction from open position, stop loss doesn't need to changed.. If stop loss get hit, take that as part of this forex bussiness.

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