纽约爆发 (NY Break Out)

Hi,

!!!Important!!!

A similar thread has been closed because people were being a nuisance and non constructive. I am doing this for me and you, if you think this system does not work, then go else where.

Simple!

Strategy

This is my variation to the NY Break Out System.

My variation was taken from:

7am-9am Big Dog USD Breakout Strategy

http://www.forexfactory.com/showthread.php?t=103682

Which has now been closed, but I hope no one minds discussing MY variation to this break out method.

The rules for the Break Out Box are slightly different:

1. M15 Chart for a USD pair, e.g GBPUSD.
2. Draw vertical line 07:00 EST time (You need to work this out accordingly to your broker time).
3. Draw vertical line 09:15 EST time (You need to work this out accordingly to your broker time).

For UK, we are 5 hours behind therefore 12:00 and 14:15 - but you still need to work this out according to your broker time.

4. Draw Horizontal line at high of candles/bars between vertical line.
5. Draw Horizontal line at low of candles/bars between vertical line.
6. Place a buy stop at a couple of pips above the high
7. Place a sell stop at a couple of pips below the low

The rules for SL is slightly different:

1. SL - Previous bar to the one that took the trade.

MM and RR

FX is all about MM and RR, everyone will use different MM and RR and others will not even use this.

As an example, what I think works great.

MM
3% of equity

RR
TP1 (half lot) RR = 1:1 (If SL great than 50 pips, then TP1 (full lots) RR = 1:1)

If SL 20 pips or less
TP2 (2nd lot) RR = 1:4

If SL 30 pips or less
TP2 (2nd lot) RR = 1:3

If SL 40/50 pips or less
TP2 (2nd lot) RR = 1:2

New York Time Confusion

You have to make sure that your broker time is offset correctly. So please make sure of this, as above I have stated GMT time and I know different brokers have different times, even here in the UK.

It does take a little working out, so please do take some time in working this out, we cannot hold your hand working out simple things - no offence.

Please ring your broker and ask them what time zone you are in, if you are trading live.

Otherwise try this.

1. Check your local time, look at the clock on your PC.
2. On your charting platform, on a H1 chart, draw a verticle line on the current bar and see what time your broker is on.
3. Go to http://www.timeanddate.com/worldclock/ and workout the time.

This is how I worked it out.

Regards,
Vip