SIMPLE Asian Breakout Strategy 100% gain in the last 20 days (4:1 risk reward)

mojo6911 · May 6, 2011, 7:53am

Got stopped out last night.

pigsinablanket · May 6, 2011, 8:47pm

I’ve been staying out of the asian break out due to the japan holiday. Will restart next week.

I did good on the euro/usd d rops though.

Pashka · May 7, 2011, 8:07pm

i find that this system works a lot better when when you trade with the trend then against it.

spike00spiegel · May 8, 2011, 6:22am

I have the same issue and I think if you put a trialling stop of 40 pips along with your usual SL, when you are 40+ then your stop loss it will be 40 pips, the issue here that the pair may go 50+ and drop 40+ and then go back to 70+ but this is unlikely with usd/jpy and you but I don’t see any other solution using oanda. Another issue is how to see automatically cancel one order if the other is triggered.

expertic · May 8, 2011, 7:04am

I personally find that the trailing stop of 40 is good. Once TP 1 hits target at least we are secured by minimum of 40pips or more if the price moves further before going against the direction of the trade. Just as spike00 mentioned, there’s a possibility that it will move to 50+ and move back down but it’s unlikely… Possible but unlikely…

Anyway, could anyone pls educate and enlighten me on why the breakout is based on the high low of the two hours? London and New York session only opens hours later…

alpe · May 9, 2011, 5:08am

It’s because base on ASIAN open not the london or new york. That’s why it’s jpy pair and the timing is chosen just before Japan market open.

Cheers!

TalonD · May 10, 2011, 6:36am

anyone trade this last night? First order hit take profit, second order I have a trailing stop loss of 40 pips and it’s currently 30 pips up from there.

alpe · May 10, 2011, 6:55am

If following the original rule it’s suppose a no trade?

spike00spiegel · May 10, 2011, 7:30am

do you entered after 2 hours from opening? For what I saw the first 2 hours bars din’t break through.

TalonD · May 10, 2011, 11:54am

oops, I think you guys are right. I didn’t get on the computer until late last night and forgot about that rule so I set up my orders! Sometimes you just get lucky.

Elvis_Pipsley · May 10, 2011, 7:51pm

Is anyone trading tonight?

mojo6911 · May 10, 2011, 7:51pm

Going to set my pending orders in 10 minutes

ThreeLittlePips · May 10, 2011, 8:02pm

My pending orders are set, looks like it might break soon

mojo6911 · May 10, 2011, 8:04pm

Mine already broke.

Elvis_Pipsley · May 10, 2011, 8:07pm

Mine also broke at 80.84

ThreeLittlePips · May 10, 2011, 8:08pm

My pending orders broke like 10 seconds after i posted lol.

TalonD · May 10, 2011, 10:18pm

I was out and just got back too late to place the trades. good luck to the rest of you.

spike00spiegel · May 11, 2011, 4:45am

SL was hit last night?

alpe · May 11, 2011, 5:48am

SL was hitted for me

TalonD · May 11, 2011, 6:30am

I didn’t trade it last night but looking back at the chart this morning it looks like it would have been a stop out. On the bright side… I grew my account nearly 2% yesterday with my other method! Yay!