Follow The Bank

[Mentos]

Got this from another forum and been having great results.

 

It's a very simple strategy that I wish I found before blowing my accounts in the past.

 

The strategy:

 

All time is GMT

 

Look at the bar from 12 AM to 6 AM. See the High and Low and make a box. At 6 AM (about lunch time Indonesia) look put an order for 2 pips above of high for the buy and 2 pips below for sell.

 

Never use more then 5% when cut lost. I usually put 30 pips for cut lost. And I let it ride for profit.

[vladv]

Re: Follow The Bank

 

Can you post some screenshots with actual trades,Mentos? ;)

[Mentos]

Re: Follow The Bank

 

Here you go. Alway better in simple is better.

[mikemast77]

Re: Follow The Bank

 

I want to try this out. Do you have any more info on the system?

[imatache]

Re: Follow The Bank

 

This strategy sometimes goes by the name of "London Forex Rush". 2 pips is too little in my opinion, there will be lots of fake "breakouts" from the Tokyo session.

Basically it is wise indeed to look what happened during the Tokyo session, decide whether that was a trending or ranging session and try to figure out if the European session will bring about a continuation of the Tokyo session trend or perhaps a correction.

[jet]

Re: Follow The Bank

 

This is a similar strategy to has123 breakout. It had some horrible results a few years ago. Before that time it worked well. You can find alot of information on it on strategybuilder.com's forum website. I don't recommend wasting time with this.

[SAKIS]

Re: Follow The Bank

 

yes i agree with you but what is the best strategy to have at least some 10 pips after london open???

 

 

I saw in one forum some traders make price box 05.00-8.00 gmt and call it pre london season :?:

[keifer]

Re: Follow The Bank

 

ah the asian range breakout strat. It's not as reliable as it used to be but something I still trade most days. Cable has a nasty habbit of breaking out one way, failing then breaking out the other way. I found if you set the range from 10 pm to 9am you can eliminate alot of these false breaks, but of course you'll miss out on some good moves also. Another method to filter the false breaks using the standard range 10pm-6am... wait for a breakout on the 15min chart... and wait for the first bar not to make a new low for shorts. The swing low becomes the trigger bar. Entry 2 pips below this low and stop above the pullback. If price makes a new low then the breakout should continue. You could also only take breakouts in the direction of the daily trend.