London Forex Open Breakout Indicator System

[jhart]

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.

 

[jhart]

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 The orders are withdrawn with this system if they are not triggered by 10:00 BST

 

[jhart]

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

 

[jhart]

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!

 

[jhart]

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

 

[jhart]

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

 

[jhart]

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!**

 

[jhart]

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

 

[jhart]

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.

 

[jpadventure]

Well done for 2011, how about posting a broker's statement?