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To the original poster, you will also want to avoid trading when the ADX technical indicator is below 40, as this indicates that the market is choppy, even though there are techniques to profit from that type of market condition (but that's another story...).

This rather old but still profitable technique is called the "opening range breakout" and works best with financial instruments like the Nasdaq100 index, the S&P 500 index, some European indexes and stocks with large intraday range. You can see the backtest on "The compleat Day-trader" by Jake...

Speaking of HFT, there is a new book called "Trading the measured move : a path to trading success in a world of algos and high-frequency trading", by David M. Halsey. A short summary : "Trading the Measured Move offers a blueprint for profiting from the price waves created by...

Those you trade, of course :)

That means you need to make 5.3% on each trade just to break even! That's pretty high, if you consider that most hedge funds cannot make 2% a month consistently.

I don't know if your trading system has a real statistical edge but be very careful though, your take profit seems to be very low. And experience /tests show that this type of trading (small profit target) usually fail in the long run, because the spread and commissions represent a big portion...

I trade anything that moves and GBP/NZD is no exception. Besides, there is currently only 1 pip difference between GBP/NZD spread and the EUR/USD on my FX plaform, no big deal. What low volatility?? I made a bundle this month, can't complain :)

Good for you. Now try to do that every night and you will be set for life, if you slowly pyramid your profits... :cool:

It seems to me you are not very familiar with the Forex market, as the biggest "spikers" are not the EUR/USD or even the GBP/USD (these pairs are relatively "quiet") but the insane NZD and all its crosses, GBP/NZD being the "weirdest". ?? :confused: On any given day, you can find hundreds of...

Isn't that what all winning trading systems do, trade after trade? :cool: Spikes? What spikes? Currency pairs move 1% each day on average, while some stocks routinely move (gap) 10% or more on a daily basis. Now try to imagine a 10% gap (spike) with a 100 to 1 leverage like in Forex!!

An ET trader with a good sense of humor, how refreshing :p

With all due respect MeanVelocity, there is no such thing as a "highly predictable period" and "unpredictable" periods, you either have a profitable trading system or you don't... period (no pun intended).

For breakout trades, every dollar I risk brings me 4.7 dollars in return, on average . More than 72% of the trades I place reach at least the first profit target, and then I move the stop to break-even.

You are welcome :p

Sorry, trade secret. :cool: I spent years studying breakouts. Most of them are fake as you probably know, so the trader needs to find a way to "qualify" these breakouts.

Then trade the Forex market, unlike the stock market there is ALWAYS one or more currency pairs in a serious downtrend mood.

That's why Level 3 trading platform is restricted to registered market makers... :cool: Steal a bottle of Gin at the liquor store and they will arrest you, but steal millions electronically from unsuspecting market participants - on a daily basis - and nothing will happen to you.

I am talking about REAL, confirmed breakouts, not those fake, phony breakouts that amateurs chase all the time.

Funny, every time someone says something bad about brokers, option sellers or market makers he is immediately laughed at, usually by the same ET members, who categorically deny everything he is saying, like if their life ($$$) depended on it... :D

Ok, I will bite, your comments are intriguing enough, feel free to send me your chart, thanks :cool: