Here you will find a breakout strategy for forex. KISS FX Breakout Strategy is a part of my Thesis.
The guidebook includes entry-, exit- & money management rules.
The idea of KISS FX Breakout Strategy is Keep It Simple Stupid (KISS), so the meaning is the keep the charts as clean and as obvious as possible without any complicated indicators.
The guidebook is more than 30 pages long and even if you find it tempting to go straight to entry rules, I recommend reading the entire book from page 1.
I hope someone will find this guidebook useful and I wish for many comments, questions and testing!
Here is an example trade from last night.
Pair and timeframe (EXEPTIONALLY) eurjpy 5 min.
Entry after a confirmed breakout. Stop loss above old support line (as previous support becomes resistance), close to moving averages.
80% of the position out at +16pips, stop loss moved to breakeaven. The meaning was to take 20% out at +40pips, but I wasnt following the trade, and I missed +40pips. I closed 20% finally at +15pips.
That was a nice trade. Very clear support line breakout, easy to trade!
two trades:
cable: i was following and expecting a breakout. However, I missed the entry point. It would have been a profitable trade.
usdca: I went short, but it turned against me and hit stop loss at about 15 pips.
