New Variation on 7 am to 9 am Breakout S

All right. Someone suggested that I start this post because the original dynamics of my system basically changed my entire trading system from the 7 AM to 9 AM Big Dog Breakout strategy I originally posted. A lot of the information I'm going to put in this thread will be taken from posts I've made in this thread (which is a really good strategy by the way, it just doesn't work for me). This is a more conservative trading strategy than many of the other strategies here and has a pretty good risk to reward ratio of 3:5 risk/reward. What I've learned from trading is to keep risk low, reward high, and follow the rules when they are made. Next, I'll post the rules for my system. If you have any questions, be sure to ask and I will do my best to answer them.

I always trade EUR/USD. Feel free to test with other USD currency pairs, but I haven't tested them yet. If you do test them, please post your results here for others to see.

So, this is what you need:
2 vertical lines
- One at 7:00 a.m. Eastern Time
- One at 9:00 a.m. ET

2 horizontal lines
- The highest point between 7 and 9
- The lowest point between 7 and 9

Fibonacci
- The high between 7 and 9 is 0.000 and the low is 1.000
- The high between 7 and 9 is 1.000 and the low is 0.000
- The small fibers you should set for each of these are 0.000, 1.000, 1.272, 1.500, 1.764 and 2.000

Now, Little Lies will tell you where to enter and exit trades. You need to set the pending order to 1.272. You need to split your transaction into thirds. The stop loss point for each trade will be the 1.000 Fibonacci level. You will set three limits, one for every third of your transactions. Take profit by one third at 1.500, another third by 1.764 and the rest of the trade at 2.000. For the stop loss, once the first target price is hit, move it up to breakeven, then when the second target price is hit, move it to the first target price line to ensure you lock in some profits.

You will now trade in both directions at 9 AM ET. If long trades are hit, short orders are canceled. Likewise, when the short order is hit, the long trade is canceled.

The last thing I want to say is that this strategy does not accumulate extremely high points. This is suitable for those who want to trade conservatively and use larger lot sizes to lock in profits early.

I hope this makes sense. This is my first time trying to explain everything in one article, so if you have any questions please let me know. I'm attaching a picture of my first "live" trade I made last Wednesday (5/20). Since that day, I've had 4 wins, 1 breakeven, and 1 loss. (No deal Memorial Day). I know there are a few other people here who have started trading using this method and I would be very grateful if some of you could post some personal results using this method. Anyway, I think I'm done...