Breakout Trading Strategy - page 2
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i use breakout strategi...
Look for daily trend chart ( it it's "long" so Open long if it 's "short" than open short )
OP = Open price +/- 20 ( depend on trend )
TP 50 pips SL 50 pips...
i use breakout strategi... Look for daily trend chart ( it it's "long" so Open long if it 's "short" than open short )OP = Open price +/- 20 ( depend on trend )TP 50 pips SL 50 pips...
How does that work for you? Is it reliable?
I look for consolidation. I dont always find it, but last night had a good consolidation pattern on GBPJPY. I got about 50 pips out of a 100 pip move. I wish I'd stayed up because within t 3 hrs or so it dropped like a rock about 300 pips this morning. ;-) Oh well...next time.
i have 2 style trading Breakout system,
it's good for beginner to trade forex,
Trading the Asian High and Asian Low - Forex Trading
happy trading
thank U dude. nice post
I think nowadays the biggest problem with breakout/news trading strategies is that brokers widen the spread sometimes up to 10 pips before the news, so that even is one of your orders is hit you would end up with a very small profit or even a loss if the move is not that big. So be careful trading news breakouts. Mc Duck
Yes, and not only that but trading news is just outright suicide sometimes. The markets can move 100+ pips in seconds in the opposite direction you expected. It's crazy.