Box Trading System

Wednesday, October 15, 2008

Chart setup

On a 15 minute chart, draw a box between 6:45 CET (GMT+1) and 13:45 (GMT+1) and during following session between 13:45 and 18:45 enter long/short if candle close above/below the box.

Download the box drawing indicator and teplate. Similar indicator is here (works fine without template.) Adjust according your needs.

Enter long (buy)
- when candle close over London session box

Enter short (sell)
- when candle close below London session box

Stop Loss
- 30 pips. If stop loss is hit take reverse trade with 20 pips target and pips SL.

Target
- 20 pips. Otherwise exit at close of US session.

Note
- Best used on GBP/USD and EUR/CAD. This strategy is easy to backtest.

Need help? Do not you understand the system?

1 comments:

{ satishmania } | 1:23 PM said...

Extremely useful blog for stock info.

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