Does anyone have a good break out startegy. I have a great startegy for intraday trading which works very nice for me, but my setup and entries do not come off when there are breakouts and continues travels. Mine is more retracment based so if i dont get a healthy retracement i can miss out on a whole sessions worth of pips on a good trending day, obviously these only happen a few times a month but it would be great to add it to my armour and trade them as well. Any help is greatly appreciated
If it is good (as in, has a serious edge), it is probably not going to be handed over to you But I like your double use of "startegy." That would sort of be a blend of starting (trader's) strategy...
In a few year's time, with any luck, you will realise that the only thing that matters is risk minimisation. At the moment you are suffering from a disease known as indicatoritis. Those who recover from indicatoritis become good traders. Those who fail to recover will never succeed.
What is your definition of "breakout"? Take a look at turtle trading. A similar breakout system works best in strongly trending non-volatile non-choppy markets. As far as risk minimization, also look at risk vs reward. If you have a 50% win ratio, it can be a very profitable system if you are able minimize losses and maximize gains.