TRIPWIRE is a day trade system which employs ‘breakout’ and ‘Break and Retrace’ trading methodologies and is applied to the following FX pairs (equity curves below):
TRIPWIRE waits for the optimal set-up employing trend and volatility filters which limits the number of trades, keeping trading costs to a minimum. As TRIPWIRE is a low frequency system there are often days where no open positions or pending orders to enter new positions occur in any of the five FX pairs.
As soon as TRIPWIRE enters a new position it is automatically seen on the client’s MT4 demo account in a size which reflects their selected cash risk level, i.e. maximum drawdown. As an example, if the client wants to monitor TRIPWIRE’s performance on an account with a $10,000 start balance risking a 25% maximum drawdown, the lot sizes traded on MT4 will reflect cash risk of no more than $2,500.
Risk is controlled by an initial stop loss placed just above the current day's low for a long position (and vice versa) with amended levels, profit take levels communicated via email whenever possible. Note: the ONLY determinant of a TRIPWIRE open position is its existence on MT4. Pending orders sent via email are only indicative and may not be filled at every broker due to differences in spreads and trading conditions etc.
Trades can be entered at any time during the 24-hour global session and all positions are exited at 22:00 CET.
TRIPWIRE is also available as part of a subscription service a ForexVox, click here for details.