This is a ” Dachel’s simple system / backtesting” and is not yet the final system.
Here's the deal.
1. Open the 4 hour chart
2. Take the Hi and Lo of the second candle of the day (GMT)
3. Place an Buy order 10 pips above the Hi and 10 pips below the Lo
(you can use the Eagle Breakout Indicator for easy visualization)
4. When the price hit an order cancel the other.
5. You should place your SL at the other side of the channel.
(don't enter the trade if the channel is more than 200 pips)
6. You should place the TP at the size of the channel.
7. Close the trade at the end of the week if given the case.
8. If your trade is still on by the next breakout stay in until you lose or win.
This baby gave me best result in my manual backtest in 2007.. This system can be improved if someone want to try a different strategy or maybe a Breakeven or SL, Try it on a demo or backtest to check by your self. Any suggestion is welcome as well as for backtest for other currencies and other years.
--- by; Dachel’s ----
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