Well! They are two, actually!
1st Strategy
Sunday Candle Break Out:
4hour GBPJPY graphs
Using GMT, some forex brokers Metatrader graphs (Admiral Markets, North Finance,...) present a Sunday candle, made between 21:00 and 0:00.
Put a buy order 25 pips above the top of this candle, with a 150pips T/P objective. Put the stop loss at the low of the Sunday candle.
Put a sell order 25 pips below, and follow the mirrored procedures described above.
If a trade fails (stop loss), do not re-enter. Let the opposite trade do his job.
http://i11.photobucket.com/albums/a1...co17/150_1.png
http://i11.photobucket.com/albums/a1...co17/150_2.png
2nd Strategy
Morning Break Out:
1 hour GBPJPY graphs
Using GMT, observe the rage between 1:00 and 09:00 (Note: using eagle-breakout indicator, I've put between 0:00 and 8:59; for some reason it have ignored the 0:00 candle - but it works fine).
Put a buy order 2 or 3 (+spread) pips above the top of this rage. T/P objective is half of the rage or at least 20 pips. Put the stop loss at the middle of the range or at least 20 pips.
Put a buy order 2 or 3 pips bellow the bottom of this rage. T/P objective is half of the rage or at least 20 pips. Put the stop loss at the middle of the range or at least 20 pips.
If a trade fails (stop loss), re-enter. Even after a T/P, if the price came in to the range, you can retry another time.
If a trade last for more than one day, and is moving in the right direction, it is ok to let it go - just move up the stop loss, above or at the break-even.
http://i11.photobucket.com/albums/a1...ngbreakout.gif
I've made some paper trade back tests, and it seems to work OK, but as I do not know how to program Metatreder EA, I´ve use little and recent data.
Can any one help me in this task?
Please be gentle; I'm just a beginner . Any suggestions are welcome.
1st Strategy
Sunday Candle Break Out:
4hour GBPJPY graphs
Using GMT, some forex brokers Metatrader graphs (Admiral Markets, North Finance,...) present a Sunday candle, made between 21:00 and 0:00.
Put a buy order 25 pips above the top of this candle, with a 150pips T/P objective. Put the stop loss at the low of the Sunday candle.
Put a sell order 25 pips below, and follow the mirrored procedures described above.
If a trade fails (stop loss), do not re-enter. Let the opposite trade do his job.
http://i11.photobucket.com/albums/a1...co17/150_1.png
http://i11.photobucket.com/albums/a1...co17/150_2.png
2nd Strategy
Morning Break Out:
1 hour GBPJPY graphs
Using GMT, observe the rage between 1:00 and 09:00 (Note: using eagle-breakout indicator, I've put between 0:00 and 8:59; for some reason it have ignored the 0:00 candle - but it works fine).
Put a buy order 2 or 3 (+spread) pips above the top of this rage. T/P objective is half of the rage or at least 20 pips. Put the stop loss at the middle of the range or at least 20 pips.
Put a buy order 2 or 3 pips bellow the bottom of this rage. T/P objective is half of the rage or at least 20 pips. Put the stop loss at the middle of the range or at least 20 pips.
If a trade fails (stop loss), re-enter. Even after a T/P, if the price came in to the range, you can retry another time.
If a trade last for more than one day, and is moving in the right direction, it is ok to let it go - just move up the stop loss, above or at the break-even.
http://i11.photobucket.com/albums/a1...ngbreakout.gif
I've made some paper trade back tests, and it seems to work OK, but as I do not know how to program Metatreder EA, I´ve use little and recent data.
Can any one help me in this task?
Please be gentle; I'm just a beginner . Any suggestions are welcome.