Afternoon Breakout

traderix · Nov 18, 2006

IÂ´d like to open this thread based on a breakout strategy.
The most of those strategies are for an opening breakout during the morning.
IÂ´d like to share this AFTERNOON breakout strategy and know if somebody is using it and what experiences have been made.
Good ideas for tweak and inprove the strategy are welcome!

1. take the opening price (I trade currency futures, but it can be applied to Index futures).
2. multiply the opening price by 1.0033 to get your buy signal
multiply the opening price by 0.9967 to get your sell signal
3. wait till 02.00 pm EST, from there enter when your price signal is hit
3. exit at 04.00 pm EST

I trade this since 6 months with good results but it must be improved.
All ideas are welcome

Traderix

just21 · Nov 18, 2006

Shouldn't you take the breakout price from the open at 2pm? What if the market broke out in the morning?

jessop · Nov 18, 2006

Please can you try this out on both the NQ & ES

Seems a rather random strategy IMHO.

Good luck

roger77 · Nov 18, 2006

See this thread:

http://www.elitetrader.com/vb/showthread.php?s=&threadid=37520

Willleung · Nov 19, 2006

I think 5pillar had have tread on bracket trade

ElatedMaverick · Nov 19, 2006

This is a good strategy for people who like to sleep late

What do you do when the mkt is already outside of your range at 2 pm?

traderix · Nov 20, 2006

if the market is already outside of the range, enter a market order

rickty · Nov 20, 2006

Quote from traderix:

IÂ´d like to share this AFTERNOON breakout strategy ...

1. take the opening price (I trade currency futures ...

Traderix,

What currency futures does the afternoon breakout work best with in your experience?

Richard

traderix · Nov 20, 2006

GBP/USD or any coss rate (most volatile)