Here is the plan: $250 to trade gbp/jpy. How will I trade it? I am using a breakout system, simply set my orders and leave it. Why? Because I have other things to do. You may find the following details to be similar with other breakout system. Well it is as I learn from other people too. One of them is daily-pips.blogspot.com. Some people likes daily breakout, pattern breakout, or any kind of breakout. Well I use this one.
The above is the screenshot of the breakout at 27 and 28 February. The red box is where I find the high and low. It is between 15:00 - 23:00 GMT. After that I set my buy stop and sell stop order 1 pip above the high and 1 pip below the low. My target is 50 pips and stop loss is the opposite breakout. The sample look nice don't you think.. Well below is one of the bad days..
I have the high and low at 21st February and I put my order. What happened was both order got hit and reverse, lose about 250 pips that day. But again, I don't think February was a good month for any system..
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