i've found this interesting stuff
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Step back SIBKIS system

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Rules etc are very simple.

1 - As with the other system have Mondays off.

2 - Start of tuesday put a 100 block on the chart for the week (easier to see as on the attached chart.

3 - set up a buy and sell at the breakout points.

4 - When one triggers the other becomes the stop loss (so 100 pips)

5 - Add a reverse in case the first trade fails.

6 - Once the trade is running leave it alone and let it do its thing until Friday evening and close.

7 - Remember if the reverse trade triggers you will need to set a 100 pip stop on this.

Intervention :

Apart from setting the original triggers, adding the reverse trade and adding the new stop if required the only intervention I make is when there is important US data (NFP etc) on a Friday, when this is happening at say 3pm, I cancel the original stop loss at 2.50 and set a stop 30 pips away from the current market price to guard against any large reversal.


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to read more :
http://www.strategybuilderfx.com/sho...ghlight=sibkis

For those who would like to get some info from guy who invented this system, here is the original thread about it (Phoenix, hope you won't mind :P) : http://www.strategybuilderfx.com/sho...ghlight=sibkis

Best Regards,
P7

EDIT: sorry, didn't notice you've added the URL

No prob.

I found the Sibkiss thread on SBFX and liked what I saw, so I wrote an indicator for it in MQL3. I have just finished a new indicator in MQL4 and I thought I would share it with anyone who wanted it. I have attached a GIF image to this post and the indicator zip file as well.

When you see the indicator you will notice a dotted green line running through the center, this is the "Weekly Open Price" as described in the original thread. It is defaulted to Tues at 0:00 GMT, but the day can be changed in the indicator properties. It is listed as "Start Day".( Remember that 0 is Sunday, so Tuesday is 2.) The current value of the "Weekly Open Price" will be shown in the upper left corner of the window as well.

The Buy Limit and Sell Limit lines are defaulted at 50 pips above and below the "Weekly Open Price", and each value can be changed in the properties window. (These are the solid light red and turquoise lines.) They are listed as "Buy_Limit" and "Sell_Limit", also notice the negative values for the Sell items.

I have also colored the area between these two lines so that it is easier visually to see the points at which to Buy or Sell. This I call the "No Position Zone".

Additionally, there are two more lines included which were not in the origianal Sibkiss post. Two lines above the "Buy_Limit" and two lines below the "Sell_Limit" lines. These I have found to be quite handy in trading this indicator.

These are listed as "Buy_TakeProfit_1" and "Buy_TakeProfit_2" above the "Buy_Limit" line and "Sell_TakeProfit_1" and "Sell_TakeProfit_2" below the "Sell_Limit" line.

I have found this to be a very good indicator to trade with by adding these two lines. I wait until I have a CLOSE above the Buy_Limit line or a CLOSE below the Sell_Limit line, then I open multiple positions, usually in increments of 5.

When the price Closes above the Buy_Takeprofit_1 line and then closes below it, I will close 2 positions, letting the other 3 ride. When the price Closes above the Buy_Takeprofit_2 line and then closes below it, I will close 2 more positions letting the last position ride until Monday nite. The same for the Sell or short positions.

I also use a stop loss of the Weekly Open Price. When the price has reached the Take_Profit_1 line, I raise the stop loss to breakeven+5 pips. (I hate to lose...) This way, if the price fails to reach the second Take Profit line, I will still make a few pips on the remaining positions that are open.

Depending upon the price action, whether it is fast and strong, I may open when the price is 15 pips over the Buy Limit line or Sell Limit line. In looking through the charts one will see times when there is a strong price surge, and waiting for a close would put the open price too close to the first Take Profit line.

Well, that's about it... I hope this will help anyone interested in a good trading method.

Best Wishes for a Profitable Future

Chief

Attached Images

Sibkis Weekly Breakout Indicator.gif (31.6 KB, 627 views)

Attached Files

breakout.zip (3.3 KB, 231 views)

can someone make EA for this?

Hi all,
I just developed this ea for sibkis system. The trading rule is very simple.
discussion can be found here

attach it to any pair any timeframe.
maximum 2 trades in one week.
I also set up a demo account to do forward testing.
live report can be found here.



more pips with you!
arui

Attached Files

WeeklyBreakout_v1.0.mq4 (4.7 KB, 161 views)

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check latest EA trading result

Found this system on another forum.

1. The rules:
http://myfxreport.com/sibkis.htm

2. Results: +630 pips since February 6th, 2007. Max drawdown -177. Max Profit +597 pips.
For detailed results see: http://www.myfxreport.com and choose SIBKIS for left menu.

System looks promising. Still testing it for 12 months, forward testing.

JGerousis

That system was started by a guy named 'TrendLineBrake' on the SBFX forum there is a long thread there on the system. You have to do a search on that forum for it.

Do I have to pay to see this strategy in your website ?


Nic

__________________
Nic
Free Forex Strategy Communication Items

I believe that Tkimble daily and Weekly scalping strategy is oldest to this one.
See FF. It's a huge thread.