Weekly breakout system - SIBKIS

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Weekly breakout system - SIBKIS

Trading rules:

1 - As with the other system have Mondays off.

2 - Start of tuesday put a 100 block on the chart for the week

3 - set up a buy and sell at the breakout points.

4 - When one triggers the other becomes the stop loss (so 100 pips)

5 - Add a reverse in case the first trade fails.

6 - Once the trade is running leave it alone and let it do its thing until Friday evening and close.

7 - Remember if the reverse trade triggers you will need to set a 100 pip stop on this.

Intervention :

Apart from setting the original triggers, adding the reverse trade and adding the new stop if required the only intervention I make is when there is important US data (NFP etc) on a Friday, when this is happening at say 3pm, I cancel the original stop loss at 2.50 and set a stop 30 pips away from the current market price to guard against any large reversal.

Last Updated ( Wednesday, 18 April 2007 )

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