OILFXPRO'S daily oil trades

Breakout system by OILFXPRO

--------------------------------------------------------------------------------

OILFXPRO oil breakout system
Hi Gals

This strategy produced 1891 cents profit from 1/1/2007 to 16/2/2007 ,
for 50 trades ,with a drawdown of 200 cents,and average average profit per trade of 37.82 cents....................1750 cents net after spreads over 35 working days = 50 cents per working day

Determine the 10.00 CET – 14.00 CET High Low on QM mini crude.Place trade at 14.00 cet

Set BuyStop at High + 10 cents and SellStop at Low - 10 cents

Set Target Price at entry + 100 cents (exit only on exit rules or if stops hit)

Set StopLoss at entry - 70 cents

. If the other side of the breakout is within 70 cents then the StopLoss will be that level (Longtrade: SL = Low range - 10 cents = SellStop; Shorttrade: SL = High range +10 cents = BuyStop)

Move the SL to breakeven after a gain of 50 cents

If a certain position is taken and price turns agains you and it breaks the other side of the breakout channel then turn. If the breakout channel is broader then the stoploss ,first the stoploss will be hit. If the breakout channel is narrower then the stoploss then hitting the other side means that you have to turn your position. Three turns per day is maximum limit


If the morning channel is greater than 100 cents do not trade.

EXITS
Profitable trades only .Exit when 4 wma crosses /8 wma on 30 m charts and remains crossed for 2 consecutive 30m bars
or stops are hit either at breakeven or otherwise or
At 21.00 CET all orders expiring and close all trades at market. On Friday we do the same at 20.00 CET.

This link displays the time in every major city in the world: Qlock - World Clock


I use professional quality EXPERT ADVISERS for metatrader already for this system so please do not copy my work that I distribute freely and do not use it for commercial exploitation

 

Hi folks

Here is the OILFXPRO JOURNAL for last two weeks.A total profit of 710 points using two breakouts.

The Journal is posted on many internet message boards.If it is not posted here regularly ,it is still available on the net.

Another great system OILTRADER MACBOS system is from OILFXPRO and is freely available on the net

OILFXPRO

 

Here is journal

 

Here is a breakout chart

 

More details

In the journal I trade advanced strategies and I trade brent crude and use hourly bar breakouts.

This is all automated trading using OILFXPRO BREAKOUT EXPERT ADVISORS for metatrader.There are many free Expert Advisors from OILFXPRO posted on the net.

The systems are free

Here are backtests done manually using system in post 1

OILFXPRO

 

Hi Folks

Today was another great day in the Nymex pitts .

Nobody like to go away for the weeken on shorts ,so friday was an up close only to see pullback to realistic values today.

I added the breakouts and added a third breakout to the strategy today

Great day over 290 points profot on OILFXPRO TRIO breakouts

Now why would I want to touch the S and P?

oilfxpro

 

hi oilfxpro, thanks for sharing your strategy. although i must say that i only take the long side with brent at the moment. short trades make me nervous. i traded eurusd with a similar strategy for some time, it just seemed a bit unflexible, so i lost interest.
one question: which broker offers brent with a metatrader platform?

 

Hi folks

Today's charts

 

ODL securities in London

I don't think it matters which one you trade QM, cl or brent

OILFXPRO

 

Hi Oil trader , I am very interested in your system. I trade the sp but would rather trade oil. A few years ago I got wiped out in natty gas options but love energy and want to trade it. Is there any more info on the strategy or anything more indepth you can send me ? I am trying to visualize what to do, I live in north carolina I am on eastern standard time what is CET?