Bournemouth, UK -- (ReleaseWire) -- 01/21/2014 -- London Forex Open, the early morning breakout trading strategy has published its end of year 2013 trading results for the GBP/USD pair on its website. The figures provide a monthly breakdown of performance in addition to the total annual performance figures for each strategy.
The system offers three different trading strategies, each offering a separate risk model. Conservative, Aggressive and False Breakout variations of the strategy can be traded independently or together. Results for each strategy are provided on the website and shown as both the total number of Pips achieved and a percentage return on capital.
"The particular strategy used by the system performed well over the course of the year", comments co-founder Philip Moore. "Trading conditions have remained difficult for many strategies over 2013 so it is great that once again we have been able to turn a profit from the simple 10 minute trading strategy provided by London Forex Open.”
The early morning breakout strategy used by the London Forex Open system looks to capture early morning breakouts of the overnight trading range. This range, typically set over the Asian trading session, is characterized by lower trading volumes in the market. The strategy looks to capture breakout moves of this overnight range as volumes increase at the opening of the London and European financial markets.
The increase in trading activity at the opening of the market frequently sees the resumption of market trends that have been set prior to the Asian range. Using 08:00 UK Local time as a benchmark for placing orders on a range of currency pairs offers a simple ‘set and forget’ strategy for trading this outcome.
The London Forex open strategy offers a complete trading system and is designed for use with the leading currency trading terminal, MetaTrader 4.
About London Forex Open
London Forex Open is an early morning Forex trading system which is designed to capture breakout moves from the overnight range at the financial open. Established by a group of Forex traders in 2009 the London Forex Open system continues to be traded daily.