7# Optimus Channel Trading System
Channel Breakout Forex Strategy
Submit by Janustrader 15/04/2011
1. Pair GBP-USD TF M15.
2. One day only one trade (except you have special condition).
3. Trade can only be opened when a gray area when Paramount ended at 08.00 GMT or London Market starting time. Paramount initial time set at 00:00 hours GMT and indicate the start of the market today.
4. Draw the Tunnel on line mode, formed by two lines that draw as parallel straight line. Then switch to bar mode. The Lines just have two alternate forms based on HL today.
5. Attention is devoted to the following things when entry:
a. Daily Average and High-Low today.
b. Area of Suppport and Resistance Levels.
A complete system has components:
1. Market - What will be sold or purchased (GBP-USD Currency Pair).
2. Position Sizing - How much will be sold and purchased (1 standard lot for each day trade).
Recommend Starting Capital $10,000 with Leverage minimum 1:200
3. Entries- When to open trade is after closed candle, when prices penetrate the canal which is expressed as breakhigh or break low starts at the London Open But sometime you have to wait the candle to close twice in a row in the same direction, especially whentrending market/determine breakout continuation.
4. Stops- When to stop the trade that the outcome is loss. Fix stop loss put at the open price of the last prvious closed candle or last two candles or three candles (make sure you have at least 10 pips stop).
5. Exits- When to get out of trades
Using Trailing Stop (5 Level)
Target 1 : 30 pips (Locked at 10 pips)
Target 2 : 50 pips (Locked at 30 pips)
Target 3 : 70 pips (Locked at 50 pips)
Target 4 : 90 pips (Locked at 70 pips)
Target 5 : 110 pips (Locked at 100 pips)
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Channel Breakout Forex Strategies