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7am-9am GBP/USD breakout


You know me I love breakout's. And the 7-9 est breakout on the GBP/USD is a good one. Worth about +20pips a day. Simply box this time frame and go long if it goes above and short below. You should give the market 3 pips for slippage. I would set a SL for no more than 20pips maybe more in times of extrema volatility

The reason I think this works so well is the Euro news is already been "factored in" and this time period is when the USD releases its major news and any push thru these levels is most often followed by a large gain/loss in the dollar.
This time frame also works well on any other currency pair. I would post some charts but I cannot figure this new forex software out sorry

(100K lots = $10 a pip)

Today.. +20pips below the low
9/15... +30pip run before any sizable pullback
9/14... +40pip run before any sizable pullback
...stopped -20pips
...+40pip run before any sizable pullback
...+30pip run before any sizable pullback
...stopped -20pips
...+50pip run before any sizable pullback
...+30pip run before any sizable pullback
...stopped -20pips
...+35pip run before any sizable pullback







(duplicate post in "Mini I.B. vs 7am-9am Breakout" thread)

I have been a member of mypivots for a little over a year now, using the posts as a springboard for learning about the futures and currency markets – I’ve really appreciated the research and insight of so many of the contributors.

I’m now at the point where I’d like to begin systematically back testing one or two strategies for potential trading. I like the concept of breakouts (just finished Fisher, currently reading Crabel) – this thread and Charter Joe's Mini I.B. thread are especially interesting in this regard.

I’d appreciate some advice from the folks here. The IB and 7-9 threads are now over a year old: do both concepts still perform reasonably well in live trading? If so, which of these would you recommend that I begin my back testing with:

1. The 30B
2. The 5B
3. The 7-9 currency breakout

I have a full time job so I need a scheduled window of time to trade in. I plan to trade single lots, primarily intraday. I am methodical by nature and prefer smaller, steady gains to wild gains… and wild losses.

Any thoughts gratefully received! Thanks.

Isaac