London Forex Rush System By Al Russell Is An Intraday Trading Strategy For GBP Crosses!on September 13, 2011 at 6:18 am
London Forex Rush System by Al Russell is for those intraday traders who love to make 100-150 pips in an hour or two and then take the rest of the day off. This London Forex Rush Strategy tries to exploit the open range breakout strategy that is very popular amongst the stock traders especially the NASDAQ intraday traders. This open range breakout strategy works like this. When the NYSE opens at 9:30 AM, breakout traders mark the tight range in which certain volatile stocks trade just at the open of the stock market. In the next 30-40 minutes the emotions will be running high in the market and the stock is invariably going to make a breakout either on the upside or downside. When the breakout takes place, the stock is going to trend in that direction for the rest of the trading day.
FREE Big Ben Trading Strategy
Big Ben Trading Strategy tries to capitalize on the first directional intraday move made by GBPUSD pair in the first hour of opening of the London Market. This Big Ben Trading Strategy for GBPUSD utilizes the same open range breakout trading strategy that is so popular amongst stock traders. When you visit the London Forex Rush site, you can download the Big Ben Trading Strategy for the cable GBPUSD. This FREE Big Ben Intra-day Forex Trading Strategy for GBPUSD is an article written in the Currency Trader magazine by Kristian Kerr. This article explains the background of this BigBen Trading strategy then gives the rules to trade this Big Ben Strategy. However, the London Forex Rush System is a much more refined and elaborate strategy for GBPUSD and the other GBP crosses and Al Russell has even got developed two custom indicators specifically for this London Open System. The London Forex Rush pdf explains the rules of this strategy in great detail.
In the London Forex Rush Strategy, we will be trading the volatile currency GBP crosses like GBPUSD, GBPJPY, GBPCHF, GBPAUD, GBPCAD and GBPNZD. This is how this open range breakout strategy works in the forex market. During the Tokyo market session which proceeds before the London Open, GBP crosses mentioned above get traded in very low volumes. Due to low trading volume, these crosses begin to trade in a range during the Tokyo market session. Sometime, this range can be tight and sometime it can be wide.
But when the London currency market opens, GBP and its crosses spring into action as GBP is the most heavily traded currency during this London market session (after all London is still the biggest currency center of the world). So, just after the London open, there is a very high probability that these crosses are going to breakout either in the up direction or the down direction. This breakout can take place anytime within the next two hours. After these two hours, the probability of that breakout diminishes.
Al Russell has been trading with his London Forex Rush System for a number of years now. He happily makes 100-150 pips per trade. Some days, you will get a good breakout and other days there will be no breakout and no trade. When there is no breakout, simply close the charts after an hour or less and take the rest of the day off and return again the next day. The chances are you will get a breakout the next day. Now, Al Russell has almost automated London Forex Rush Strategy with his:
1. London Forex Rush Indicator
2. The Market Trend Indicator
These two indicators have been specifically developed by Al Russell to trade the London Forex Rush Strategy and these indicators will tell you in advance whether there is a short trade, long trade or no trade today. You open the charts just a few minutes before the London market open and if the indicator tells you there is no trade, it means no trade. This strategy needs a lot of discipline to trade. Money Management is build into the London Forex Rush Indicator that will tell you the lot size that you need to trade. The lot size can be conservative as well as aggressive, the stop loss can be conservative as well as aggressive and similarly, the take profit can be conservative as well as aggressive. The indicator will show both the conservative as well the aggressive levels.
London Forex Rush Strategy And The 1 Minute Daily Forex Trading Strategy
1 Minute Daily Forex Trading Strategy has been developed by Tim Trush and Julie Lavrin. Both Tim Trush and Julie Lavrin are accomplished forex traders. This 1 Minute Forex Trading Strategy trades the range breakouts on the pairs GBPUSD, GBPJPY and USDJPY when the London Market opens with two pending orders. An attempt is made to trade all possible range breakouts that take place. This is unlike the London Forex Rush System that tries to filter out a false breakout from a true breakout. Comparing these two strategies will show how two different traders can trade the same trend and the same breakout on the same currency pair in quite a different manner.
Testing The London Forex Rush System
The beauty of this system lies in the fact the it needs only two hours to trade daily. If there is no trade, the custom indicators will tell you in the first few minutes that there is no probability of a trade today. So, you can close the charts after a few minutes and take rest of the day off from trading. But if there is a trade, you only need 2 hours max to trade with this system. The system has almost been automated by Al Russell with two custom indicators. The London Forex Rush Indicator will tell you the stop loss, take profit and the lot size both conservative as well as aggressive. This system has got 56 days no questions asked money back guarantee. So, practice with this system on your demo account for a period of one month. If you find it easy, keep it otherwise go for a refund. If you like it, in the beginning, just trade it on your micro account with a deposit of $250. This will help you to further master this London Forex Rush System.