Thursday, November 8, 2012

Results so far so good on Monday breakouts...

My preliminary backtest on the EURUSD passed. I gathered 171 sample trades from 2001 to mid-2004. You set a pending long and short each Tuesday. Entry is the break of Monday's high or low. SL is ATR(14) * 0.5.
After 171 samples, all R:R above 1:1 showed a positive profit factor, which is healthy. Good Reward:Risk seem to be 2:1 and above. With 2.5:1, profit factor was 1.44, which is very good for a mechanical system.

I've started testing the AUDUSD. If that passes after 100-200 samples, I'll focus on the USDJPY.


  1. Hi. If you search for First Strike system (Joel Rensink) on forex factory and gogle you will find something similar.


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