London Open Breakout Strategy: This Change Increased Profit by 200%!
No better than luck
Small profit, too noisy to call an edge
- trades tested
- 835
- per trade after costs
- +3.37bp
- winners
- 24%
- years of data
- 14.7
On GBPJPY, mark the high and low of the 04:00-09:00 London-time range (the 4,5,6,7,8 am hourly candles) and rest a buy stop at the range high with the stop loss at the range low. The final version is long only, cancels the order if not filled by 12:00 London, and targets 4R with no end-of-day exit.
The exact rules we tested
- 01Instrument: GBPJPY | Signal timeframe: 15m | Direction: long
- 02No new entries after 12:00
- 03At most 1 trade(s) per day
- 04Long filter: close < orng.high
- 05Short filter: close > orng.low
- 06Entry: stop order at the break of orng.high (longs) / orng.low (shorts) (expires after 12 bars)
- 07Stop: at the orng.low (longs) / orng.high (shorts) level
- 08Target: 4.0R (risk-multiple of stop)