Please find below the answers to some common questions asked about the London Forex Open morning breakout system.
For additional queries please use our Contact Form.
Q. What Is The London Forex Open Trading Strategy?”
A. London Forex Open is a London Open breakout strategy for Forex. It is a mechanical trading strategy which is designed to capture momentum based price breakouts at the opening of the London market session.
It provides a simple set of signals at 08:00 UK Local time each day. All you need to do is use these signals to place orders in your trading account at the suggested levels.
Q. Is the strategy difficult to trade?
A. No. We believe that a simple approach to trading is best and yields the best results. You are provided with a comprehensive user guide which takes you through the simple setup process step by step. It also details what you need to do each morning to check for trading signals.
In addition we also give you direct access to our support email address. We are always on hand to help you if you need any assistance to get up and running.
Q. Can This System really be traded in 10 Minutes per Day?
A. Yes. There are a number of ways you can trade the system and we hope that as you become more familiar with it that you will have the confidence to make it your own.
You will of course initially need to both setup and familiarize yourself with the strategy. Once you are familiar with the system this will actually take you less than 10 minutes a day to complete! Of course if you are completely new to trading then there will be an initial learning curve.
Q. Will the Indicator work on currency pairs other than the GBP/USD and EUR/USD?”
A. Yes. The strategy can be used to capture break outs and false breakouts on any currency pair with the caveat that some will perform better that others. The advanced indicator allows you to configure unique stop loss and take profit levels if you so wish, making it very flexible. This will allow you to expand the number of trading opportunities identified also create your own take on the strategies from which to profit.
We have chosen to focus on the GBP/USD and EUR/USD currency pairs for which we publish monthly performance results on this website. You can view the results here.
Q. Can I trade breakouts at market times other than 08:00 UK local time?”
A. Yes. This is a perfectly sound approach. Many of our traders over the years have pushed the strategy to yield higher levels of profits. They adapted to use the system at the opening of other market sessions. The Frankfurt financial center opening or US market open are two popular choices.
We however choose to stick with the potential for “breakouts” from the range set in the Asian session. We find this works well for us when combined with the volatility found on the British Pound and Euro at this time of day.
Q. Will the Indicator Work on Different Chart Time-frame’s?
Yes. By default the core GBP/USD strategy we employ trades the 30 minute chart time-frame. There are however no restrictions to which time-frame that you can run the indicator on (5m, 15m, 30m, 1 hour, daily etc.)
Q. Can I Run The Software on an a MAC (IOS)?
A. Yes. The London Forex Open indicator is designed to be installed and operated on the MetaTrader 4 trading platform. This is widely used and supported dealing platform which is offered by the majority of major brokers. While it is designed to urn on Windows operating systems it can be however be used on the Apple iOS platform when using an appropriate Windows software emulator.
Q. Do You Issue Updates For The System?
A. Yes. While we believe that the strategy used is fundamentally sound, we will continue to deliver updates as and when required. All updates will be communicated in advance and are supplied free of charge to existing customers.
Please note that we do not attempt to chase performance by constantly updating our indicators as many systems on the market do. Updates will only be issued after extended evaluation of performance and if we identify a genuine long term trading benefit or performance enhancement.
Q. Many systems these days come with a refund or money back guarantee. Why don’t you offer one?”
A. The breakout Forex trading strategy is a concept that has been around for a long time. It has been proven in the past and should continue to work into the future.
We have developed technical indicators and a strategy to take advantage of these opportunities which we have worked hard to develop. Therefore if we offered some form of refund we would have no way of recouping any of our time or investment that has been put into the product.
We do not make any promises to anyone about system performance. However unlike many providers we provide transparent results and clarity of performance.
While we use the system ourselves we appreciate that there are no guarantee’s when trading. What we do know however is that, in the past, our strategies have been successful. Consequently we firmly believe we have an edge going forward.