It appears we've got two spectacular systems for September's Best Forex Trading System contest. The first entry is Nasdin's Trading System and the other one is the Statistical London Breakout Strategy by pipcompounder.
Nasdin's system takes advantage of a lot of technical indicators while the Statistical London Breakout Strategy uses the highs and low of a 1-hour candle. If you're interested in knowing more, you can find what the systems are all about below.
Nasdin's trading system is somewhat discretionary. Although it uses a variety of technical indicators like the Commodity Channel Index (CCI), moving averages, and the Williams Percent Range (WPR), it's ultimately up to the trader to figure out whether the market is ranging or trending. The method of entry also isn't mechanical, as you need to analyze candlesticks to determine proper entry points.
The Statistical London Breakout Strategy, on the other hand, simply makes use of the high and low of the first 1-hour candle of EUR/USD during the London session open. According to pipcompounder, you only need to spend 5-10 minutes setting buy/sell stop orders using this system, making it a good strategy for people who either trade part-time or those who live in time zones where it's less convenient to trade during the entire London session.
There you have it, dear earthlings! Polls are now open and you can vote for September's Best Forex Trading System until the end of the month. Don't forget to read the rules of each contending system carefully before casting your votes.
Let me remind you that the winner's system will be featured on the homepage of BabyPips.com for an entire month and in our Best Forex Trading System Hall of Fame. On top of that, the winner will also earn the right to donate $50 to his or her charity of choice from our Golden List of Charities.
Aside from gaining legit bragging rights and the chance to contribute to a good cause, the winner will also have his system tweaked, mechanized, and backtested by yours truly! After that, I will post my thoughts on the system based on my Framework for Mechanical Systems and let you, my dear readers, decide if it's worthy of being crowned the Holy Grail System or not.
For now, vote you must!
- Winner: September's Best Forex Trading System 23:59 02 October 2012
- Winner: Best Forex Trading System Contest for February 00:45 05 March 2013
- Trading System Test: London Statistical Breakout System 01:02 10 October 2012
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- November Best Forex Trading System Contest: Still Open for Submissions 00:32 20 November 2012