Simple Daily Breakout System

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There are an almost unlimited amount of trading systems available for free on the Internet. Most of them get a bad reputation, mainly because of the traders who are using them. Statistically, many systems that people shun will make money over the longer term. It's the application of the system that normally is where the failure is found, or of course that long time issue: money management. In this system, I show how using just a couple of simple trading rules can be profitable. I started out with a basic high and low of the trading session, and looking to buy or sell in whatever direction the market breaks. I had a few filters, mainly the candle needing to be close, and a moving average, and the next thing you know: we have a system. In this particular instance, it is a trend trading system. In other words, and a range bound market it will not work. That's where the moving average comes in, it helps filter out some of that negativity. I am not suggesting that this is the best system of the world, but it is a simple demonstration of how simple trading really can be. By over complicating things, you make it far too much work for your self. There are a lot of people that talk about fundamentals, but quite frankly that is normally in the price of the market. By following the overall trend, you are following the fundamentals most of the time. Have fun with this system, but please demo trade it first to make sure that you have all of the rules down pat. I spent less than 10 minutes designing the system and back testing it, but no that it works because of several other similar systems that I have used in the past. This system can be used by people who do not wish to sit at the computer all day, such as myself.

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