london trades

[victorunited4u]

This strategy is based on the London Market.

Currency Pair: GBP/JPY
Time frame: 1 hour

Strategy:
Before London opens, at 08:00 GMT, mark the High and Low of the last 4 hours - from 04:00 until 07:59 GMT. Set your Buy and Sell orders 10 pips away from those highs and lows.

I set my TP to 100 pips, excluding spread, and have a trailing Stop Loss, and take which ever comes first? My trailing stop is set at the previous hours high, and follows every hour.

London breakout strategy GBP/JPY


All depending on your money management, this can work due to the pairs large moves.
Any additional tips will be greatly appreciated.

[SquareRoot]

How long do you wait for the breakout before you cancel the orders?

[vanhook2]

Here is a Break Out Indicator that you can set up for any time you want.
Also, follow the link to the trailing stop EA that I use.
Hope they help.:)

http://forexmoments.com/forums/419-post1.html

[SquareRoot]

Originally Posted by vanhook2

Here is a Break Out Indicator that you can set up for any time you want.
Also, follow the link to the trailing stop EA that I use.
Hope they help.:)

http://forexmoments.com/forums/419-post1.html

Do you have the mq4 file available? Can you post it?

[vanhook2]

Originally Posted by SquareRoot

Do you have the mq4 file available? Can you post it?

No, I don't have the mq4 file.
I never had a need or a reason for it.
Maybe you can find & post it.