Hourly Scalping (Morning Breakout Scalping strategy extended

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Hourly Scalping (Morning Breakout Scalping strategy extended

Postby Alexjliu » Tue Jul 07, 2009 11:33 am

Hello to Edward and all the kind traders on this board!

Great to see Edward active again in the forums!

My questions is do we have to limit ourselves to 8am EST for Morning Breakout Scalping strategy (http://forex-strategies-revealed.com/sy ... gbreakouts)?

For every hour we could do the same thing, draw two lines bordering the price action for the last hour and then for the next hour(s) if the range breaks out of these lines, almost certainly we can get a 5 pip profit either side? I have almost never seen an hourly candle be so quiet as to not get 5 pips?

Thanks in advance for the answers! :)

Alex Liu
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Re: Hourly Scalping (Morning Breakout Scalping strategy extended

Postby Edward Revy » Tue Jul 07, 2009 5:03 pm

Hi Alex,

We definitely can :)
I think back then I was thinking of capturing more pips with the market open, but then reviewed the method into a scalping strategy. 5 pips is definitely not a big asking for hourly charts at almost any active hour.

Regards,
Edward
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Re: Hourly Scalping (Morning Breakout Scalping strategy extended

Postby Alexjliu » Tue Jul 07, 2009 9:22 pm

Edward,

Totally agree! Of course typical risks still apply around pivot points and some big moving averages, so traders still need to be careful.

Thanks and Regards,

Alex
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Re: Hourly Scalping (Morning Breakout Scalping strategy extended

Postby rmart9 » Mon Aug 03, 2009 9:37 am

newbie here so forgive the dumb question. regarding morning breakout at 8:00am.....you mention setting 2 orders....one "above" and one "below" the last candles high and low. 1) do you mean set a "buy" order and a "sell" order as the two orders? 2) are you using the 1 hour timeframe?
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