> Defined entry, exit and stop loss levels for signals
> Complete GBP/USD breakout trading strategy rules provided
London Forex Open is a set time morning breakout strategy. It is based upon the overnight Asian market range principle combined with the opening of the London financial markets. The strategy aims to capture early price breakouts from the overnight range as volatility increases at the start of the trading session.
The system provides clear, 100% mechanical entry and exit levels based on the previous market price action. Each morning at the market open you check the indicator to see if a signal has been generated. If a trading opportunity is signaled you simply place your orders at the suggested levels. No fear, no greed and no constant screen watching.
This makes for a simple, time effective and above all, profitable way to trade Forex.
The 'set and forget' trading of this strategy the 'grey areas' associated with a number of trading systems. It is clear, accurate and simple enough for new traders to follow. It also helps to remove many psychological factors from the trading process. These are widely acknowledged to hinder performance and limit the gains of even the most experienced traders.
You only trade at a set time when the financial markets first open. Therefore there is no need for constant screen watching throughout the day. Furthermore the defined risk on each position ensures that subjectivity and 'emotional' involvement is effectively removed from the trading process.
This results in an efficient system which you can use to trade Forex in just 10 minutes per day!
The reason we have published our morning breakout Forex trading system is to provide a reliable and repeatable way to capitalize on early morning breakouts and false breakouts. In developing the strategy we have focused on proven principles with our cue taken from a number of recognized trading approaches. These include the 'Big Ben' and 'box breakout' methods.
As an experienced group of traders, our expertise and research has resulted in an intra-day methodology that we believe is fundamentally sound. It offers a defined level of risk to reward based upon well established and respected market philosophy.
We have traded and refined the system over a number of years. We continue to trade the strategy and report results for the GBP/USD pair on this website.
The core strategy is designed to trade the GBP/USD pair at 08:00 UK local time. You can stick with the core strategy as recorded on this site, or additionally trade other pairs and markets. The inbuilt flexibility of the software makes it easy to customise your own strategies.
Other pairs that are typically good candidates for trading include many of the European currency crosses (GBP/JPY, GBP/CHF,EUR/USD,EUR/CHF,EUR/GBP etc). The MT4 indicator can also be configured to trade other sessions such as the Frankfurt and New York open.
Advanced traders can customize the parameters of the indicator. Take profit and stop loss levels can be adapted to suit your own trading strategies.