英镑兑美元突破交易系统 (GBPUSD Breakout Trading System)

I have been looking through the different threads, and am not sure if a system like the one below has been discussed. Any comments or suggestions would be appreciated.

On the daily chart, find the opening price of the GBPUSD (00:00 GMT)
Place a buy +50 pips from this level
Place a sell -50 pips from this level
Put a 50 pip stop on each order
If either order is triggered, let the trade run until the next day, and close at 00:00 GMT and set up another set of orders as described above.

Since Jan 2nd 2007 to May 31 2007, this system would have produced 837 pips.

Any comments would be helpful.
Thanks.