Daily Inside Bar Breakout - MT4/MT5 Resources
The rules are very simple and suitable for people like me who can't stay in front of the computer.
On any previous day's inside bar you see on a major currency pair, place a buy stop order 5 pips above the high (previous day) and a sell stop order 5 pips below the low (previous day).
I get the data from an IBFX chart and get the new day at 5:00 PM Eastern Time.
Open 2 lots, and once it rises 30 points, close the profit on the first lot and move the second lot to achieve breakeven. Let it run and profit with the same number of pips as the previous day.
Place your stop loss at the end of the previous day's candle's low or high, depending on the direction of the breakout.
Any suggestions are welcome and I apologize if anyone is already running this strategy, the idea came from everyone who turned on the pedal http://www.forexfactory.com/showthread.php?t=86766
I respect them very much.
Anyone willing to help in any way is greatly appreciated.
If you have any advice on money management, please post it here.
I also subscribe to a weekly news calendar (please don’t ask me which one, I won’t tell) which helps me decide which direction to go and how powerful this breakthrough will be.
May God bless everyone.
ps.
Today EUR/USD breaks IB at 1.5625, up +52 points and up 30 points, moving the second hand to break even, target 1.5750
On any previous day's inside bar you see on a major currency pair, place a buy stop order 5 pips above the high (previous day) and a sell stop order 5 pips below the low (previous day).
I get the data from an IBFX chart and get the new day at 5:00 PM Eastern Time.
Open 2 lots, and once it rises 30 points, close the profit on the first lot and move the second lot to achieve breakeven. Let it run and profit with the same number of pips as the previous day.
Place your stop loss at the end of the previous day's candle's low or high, depending on the direction of the breakout.
Any suggestions are welcome and I apologize if anyone is already running this strategy, the idea came from everyone who turned on the pedal http://www.forexfactory.com/showthread.php?t=86766
I respect them very much.
Anyone willing to help in any way is greatly appreciated.
If you have any advice on money management, please post it here.
I also subscribe to a weekly news calendar (please don’t ask me which one, I won’t tell) which helps me decide which direction to go and how powerful this breakthrough will be.
May God bless everyone.
ps.
Today EUR/USD breaks IB at 1.5625, up +52 points and up 30 points, moving the second hand to break even, target 1.5750
📦 Summary of post attachments (4)
Below are all the files (4) shared in the reply.
💡 Featured Recommendations
✍️ Latest by the author
- •
- •
- •
- •
- •
- •
📌 Popular topics
- •
- •
- •
- •
- •
- •
- •
- •
🔗 You May Be Interested In
- •
- •
- •
- •
- •
- •
