Forex Breakout System

Our view on the Forex Breakout System

In the spirit of keeping things simple, the creator of this system has gone the extra mile to put an automatic program in place that operates from a principle well known to many in the trading environment. The Breakout system is based on the principle that the market can only go up down and sideways, and many a times the European, American and Asian sessions are foregone by periods of sideways movement followed by a breakout into a direction. The system aims to get into the trend by buying and selling at the top and bottom at the end of each period of sideways movement respectively.

Critical Overview

The system is profitable most of the time and it must be said that the key to applying this system successfully is to know what you are doing in terms of your money management. The system is profitable more than 50% of the time which means that if the losing trade losses are kept to less than the average winning trade this system could prove to be very rewarding. Last mentioned must be the most important part to understand and to have in place before live trading is attempted. The system allows for certain variables to be changed as the user like it and it is recommended to demo trade the system with a set of variables first before going live. A simple strategy we used was to trade the GBP/USD pair with a 20 pip stop loss and a 30 pip profit and we only traded the opening of the European market. Last mentioned settings worked quite well for us and we made consistent profits. The system also allows one to use a trailing stop which could also add value in terms of managing the downside.

Conclusion

If you like the idea of an automatic expert advisor doing the job for you, this system is definitely for you. It is important however to know that you will have to test a few settings out first before you can leave it to trade on your behalf. We recommend this system to anyone, from novice traders to the more experienced trader. The creator of the system is an experienced trader and his e mail support is of the highest standard.