Originally Posted by radicalmoses

There are so many systems out here based on indicators and it takes so much time to go through all of them to see which one deserves merit,I simply did not feel like adding one more.

However most are indicator based and lagging indicators make it difficult to really simplify trading decisions and get consistent results. ( For me atleast, I am sure there are lots of guys who are doing a great job at it)

In the meanwhile I want to start a new thread here on volatility breakout system which has very simple entry exit rules and are one of the most effective trading methods. The best thing about this system is the simple entry ane exit rules which can be programmed and tweaked to get the best optimum settings.

This system was one of the best systems dedigned by the legendary trader "Larry Williams" and explained in his book "Long Term secrets to short term secrets", which had created a real buzz in trading circles. What is more astounding is his ability to trade 10k accounts into 1million in one year. BTW he has done it twice.

Just to give you a sample of what this trading system is about :

Volatility breakout implies a expansion in volatility in price ranges which acts as catalyst to longer term trends.

RULES:

Set buy stop at 70% of yesterdays range (high minus low) added to todays open + spread. Stop loss is 50% of yesterdays range deducted from entry point.

Set sell stop at 70% of yesterdays range (high minus low) dedcuted from todays open. Stop loss is 50% of yesterdays range added to entry point plus spread.

If at the end of the day, if neither of the enties levels have been, cancel all order and repeat same again tomorrow.

Condition: you can only trade in 1 direction. So if your buy stop has been trigerred and stopped out, you cannot take a short on the same day. This only occurs around 7% of trades.
Please note that this system rules though originally by Larry williams, is posted on moneytec. However there is a shortage of programmers to make an EA, so I took the liberty of posting it here to gather any of you brilliant programmers to prepare an EA to test its results.

The guy who posted this sytem on moneytec has posted his results with a graph (excel sheet) which I will be posting for the benefit of those who might think that this system is " just another system".

I am sure that many of you are still thinking indicators to daytrade, but I think this deserves a look. Rules are precise, entry , exits, SL. Very less chance of ambiguity.

Anyone up for making EA?? Would appreciate it.

BTW, if this has been posted here already, I apologise, maybe the moderator can scrap this thread. I still havent got time to check all the threads posted here still. I got my hands full.