1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

London Forex Open Breakout Indicator System

Discussion in 'Commercial Trade Journals' started by jhart, Oct 3, 2011.

  1. jhart

    jhart Private

    Joined:
    Oct 3, 2011
    Messages:
    13
    Likes Received:
    0
    Hello to all on these boards, moderators, traders and just general viewers!

    I hope we have found the right place to put this post!

    We just wanted to highlight some great performance we have been having with our London Forex Open indicator in some of the most difficult markets we have seen of late!

    Despite this we were able to record our highest monthly profit last month of over 705 pips profit!

    So what is the London Forex Open?

    Well it is a specific and profitable breakout trading system which is designed to profit from range breakouts and false breakouts.

    It was original conceived to trade just GBP pairs at a specific time of day but now many of our traders make use of it to book profits from other currency pairs (in particular, EURUSD and EURGBP).

    The brief behind the strategy was to provide a simple system with sound fundamental trading principles and managed risk which could be traded with the minimum of fuss. In fact it trades at the same time each day and only takes a matter of minutes to act on a signal once given.

    We don't pretend that the system will make you a millionaire overnight, but what we do aim for is a fundamentally sound strategy that can deliver over the long term in a range of markets.

    We'll make use of this thread to journal our performance through October.
     
  2. jhart

    jhart Private

    Joined:
    Oct 3, 2011
    Messages:
    13
    Likes Received:
    0
    October Trading

    No trade triggered yesterday.

    This morning we have a signal to go short at 1.5418.

    Orders placed. The orders are withdrawn with this system if they are not triggered by 10:00 BST
     
  3. jhart

    jhart Private

    Joined:
    Oct 3, 2011
    Messages:
    13
    Likes Received:
    0
    Our trade yesterday was triggered :). Here are the results -

    Conservative Strategy -+120 pips
    Aggressive Strategy - Breakeven

    The indicator has signalled a long entry again today. Orders placed at 1.5476 but it's looking unlikely they will get triggered prior to 10 BST
     
  4. jhart

    jhart Private

    Joined:
    Oct 3, 2011
    Messages:
    13
    Likes Received:
    0
    So here is the update for the week so far.

    03/10 - No trade orders not triggered
    04/10 - Trade Taken - Con: +120 pips Agg: Breakeven
    05/10 - No trade orders not triggered (trade not triggered before news)
    06/10 - Trade Taken - Con: -120 pips Agg: -40 pips
    07/10 - Trade Taken - OPEN - Con: +60 pips booked - stop moved to breakeven for target 3), Agg: - stop moved to breakeven for agg target)

    A pretty good start to October. Some of our traders avoided the loss on Wednesday, not liking to trade on the day when the B of E rate decision is due out. However we traded it as often on those mornings the pair can still put in a good overnight break first thing.

    We've also been having some good results with the system on other pairs - EURUSD and EURGBP in particular have been giving use some good results of late so the pressure is on us to start reporting these trade results on our website as well!
     
  5. jhart

    jhart Private

    Joined:
    Oct 3, 2011
    Messages:
    13
    Likes Received:
    0
    Here are the latest updated results for the London Forex Open System (apologies for the delay but due to illness!)

    GBPUSD
    10/11 - FALSE BREAKOUT TRADE TAKEN -45
    11/10 - No trade orders not triggered
    12/10 - FALSE BREAKOUT TRADE TAKEN -45
    13/10 - TRADE TAKEN - Cons. +60 Agg. Breakeven
    14/10 - No Trade - Orders Not Triggered

    17/10 - No clear trend
    18/10 - TRADE TAKEN - Cons +60 Agg. Breakeven
    19/10 - No trade orders not triggered
    20/10 - No trade orders not triggered
    21/10 - No trade orders not triggered

    EURUSD
    10/11 - No trade orders not triggered
    11/10 - TRADE TAKEN - Cons +60
    12/10 - TRADE TAKEN - Cons +120
    13/10 - No Trade - Orders Not Triggered
    14/10 - No Trade - Orders Not Triggered

    17/10 - TRADE TAKEN - Cons -40
    18/10 - TRADE TAKEN - Cons +120
    19/10 - No trade orders not triggered
    20/10 - No trade orders not triggered
    21/10 - No trade orders not triggered
     
  6. jhart

    jhart Private

    Joined:
    Oct 3, 2011
    Messages:
    13
    Likes Received:
    0
    Ok here are the final live results for London Forex Open (GBPUSD for November)

    01/11/2011 TRADE TAKEN Cons +120 +100
    02/11/2011 No Trend
    03/11/2011 No Trade - Orders Not Triggered
    04/11/2011 No Trade - Orders Not Triggered
    07/11/2011 FALSE BREAKOUT TRADE TAKEN +45
    08/11/2011 TRADE TAKEN - Cons +60
    09/11/2011 TRADE TAKEN -Cons +120
    10/11/2011 No Trade - Orders Not Triggered
    11/11/2011 No Clear Trend
    14/11/2011 TRADE TAKEN Cons -120 -40
    15/11/2011 No Clear Trend
    16/11/2011 No Trade - Orders Not Triggered
    17/11/2011 FALSE BREAKOUT TRADE TAKEN +45
    20/11/2011 FALSE BREAKOUT TRADE TAKEN -45
    21/11/2011 TRADE TAKEN - Cons +120 +100
    22/11/2011 TRADE TAKEN -Cons -120
    23/11/2011 TRADE TAKEN -Cons +120
    24/11/2011 No Clear Trend
    25/11/2011 No Trade - Orders Not Triggered
    28/11/2011 FALSE BREAKOUT TRADE TAKEN -45
    29/11/2011 FALSE BREAKOUT TRADE TAKEN -45
    30/11/2011 No Trade - Orders Not Triggered

    Pips booked for November:

    Conservative +300 pips (+7.5% equity)
    Aggressive - +220 pips (+16.5% equity)
    False Breakout - -45 pips (-3.0% equity)

    Total - +475 pips

    Full results for Aggresive Strategy can be found on the November results page here
     
  7. jhart

    jhart Private

    Joined:
    Oct 3, 2011
    Messages:
    13
    Likes Received:
    0
    Ok here are the final live results for London Forex Open (GBPUSD for November)

    01/11/2011 TRADE TAKEN Cons -120
    02/11/2011 No Trade - Orders Not Triggered
    05/11/2011 No Clear Trend
    06/11/2011 No Trade - Orders Not Triggered
    07/11/2011 No Clear Trend
    08/11/2011 TRADE TAKEN Cons +60
    09/11/2011 No Clear Trend
    12/11/2011 No Clear Trend
    13/11/2011 TRADE TAKEN Cons -120
    14/11/2011 FALSE BREAKOUT TRADE TAKEN +45
    15/11/2011 TRADE TAKEN Cons +60
    16/11/2011 FALSE BREAKOUT TRADE TAKEN +45


    Pips booked so far for December:

    Conservative -120 pips (-3.0% equity)
    Aggressive - -80 pips (-6.0% equity)
    False Breakout - +90 pips (+6.0% equity)

    Total -130 pips

    Full results including for the Aggressive Strategy can be found on the December results page here

    **Pick Up Your Indicator and start profiting from easy morning breakouts in 2012 before we increase the price!**
     
  8. jhart

    jhart Private

    Joined:
    Oct 3, 2011
    Messages:
    13
    Likes Received:
    0
    Final 2011 Yearly Results

    With the last of the trading done for 2011 we can now post the results of the London Forex Open system on the GBP/USD pair.

    While we finished a few pips down in December (although the false breakout strategy finished in profit again!) over all we saw some excellent returns on the account.

    This was achieved in just 10 minutes trading per day and even less on the days when we had no signal!

    In addition the risk on the account was low with the lowest monthly draw down seen by those following the Aggressive strategy in April where it peaked at -12.0%.

    Our trade results on the website assume only risking 3% of capital per trade which keeps in line with the suggested risk levels of long term profitable traders. Therefore it is good to see such a high return delivered with low risk.

    We must also take into account the high level of volatility of the markets and the fact that many comparable systems have failed to even record a profit for the year!

    The total pips gains for the year across each strategy is as follows:

    • Conservative strategy +1240 pips
    • Aggressive strategy +60 pips
    • Advanced/ False Breakout Strategy +530


    The Conservative and Advanced Strategy on which we benchmark the GPB/USD trading performance shows a total return of 67% generated over the year.

    Note you can still get your hands on this indicator for the discounted price of just £127 and start trading with us in January!

    NOTE: We will also be logging official results for trading the EUR/USD pair on the site in 2012

    Wishing all our traders a very happy New Year and we look forward to trading with you in 2012!

    Profitable Forex Trading System | MetaTrader Breakout Trading strategy Indicator
     
  9. jhart

    jhart Private

    Joined:
    Oct 3, 2011
    Messages:
    13
    Likes Received:
    0
    A great welcome to 2012 and an excellent start to the year for the London Forex Open system.

    We are off to a winning start on each strategy traded so far this year with our ten minute per day breakout strategy.

    02/01/2012 No trade - Orders not triggered
    03/01/2012 TRADE TAKEN Cons +120 Agg +80 (closed out towards end of day - Agg)
    04/01/2012 No trade - Orders not triggered
    05/01/2012 FALSE BREAKOUT TRADE TAKEN +45
    06/01/2012 No trade - Orders not triggered
    09/01/2012 No trade - No clear trend
    10/01/2012 TRADE TAKEN Cons - BE Agg - BE (closed out towards end of day)
    11/01/2012 FALSE BREAKOUT TRADE TAKEN +45
    12/01/2012 No trade - No clear trend
    13/01/2012 No trade - Orders not triggered
    16/01/2012 No trade - No clear trend
    17/01/2012 No trade - Orders not triggered
    18/01/2012 No trade - Orders not triggered
    19/01/2012 TRADE TAKEN Cons +120 Agg +100
    20/01/2012 FALSE BREAKOUT TRADE TAKEN +45
    23/01/2012 No trade - Orders not triggered
    24/01/2012 No trade - Orders not triggered

    Total so far for January

    Conservative strategy +240 pips
    Aggressive strategy +180 pips
    Advanced/ False Breakout Strategy +135

    We did post that we would also be logging performance on the EUR/USD this year. However due to the close movements of markets at present there seems little point in trading this additional pair as well as the results closely mimic the GBPUSD results.

    By trading both we feel we would simply be doubling up on our risk which is not really the intention of the strategy. The aim is to simply produce some quick easy profits from breakouts first thing with a lower risk.

    However we do have some traders who prefer to trade the EUR/USD instead of the GBPUSD pair, simply due to preference and the slightly better spreads on offer from their brokers.

    We'll update with the final results for January (which looks so far to be a great month!) next week.
     
  10. jpadventure

    jpadventure Private

    Joined:
    Aug 13, 2010
    Messages:
    24
    Likes Received:
    0
    Well done for 2011, how about posting a broker's statement?
     

Share This Page