Hans 123 Forex Trading System

FOREX.COM

Free EA Hosting On MT4


Hans 123 is a forex trading system that any forex trading website should have in its database, hence this post today. Whilst I can not say it has been a system I have used it definitely sparked some breakout trading ideas which have helped me over the years. This system was popular about 4/5 years ago but since then it has not been discussed as much as it used to.

In short the trading system is as simple as it gets. You take a range over a certain timeperiod and a break of that range triggers you in.

Hans 123 Forex Tading System Rules

-Simple Combined Breakout System for EUR/USD and GBP/USD
-Determine the 06.00 CET – 10.00 CET High Low on EUR/USD and GBP/USD
-Determine the 10.00 CET – 14.00 CET High Low on EUR/USD and GBP/USD
-Set BuyStop at High + 5 pips and SellStop at Low – 5 pips for both timeframes and both currencies
-Set Target Price at entry + 80 pips for EUR/USD and entry + 120 pips for GBP/USD
-Set StopLoss at entry – 50 pips for EUR/USD and entry – 70 pips for GBP/USD. If the other side of the breakout is within 50 pips for EUR/USD or within 70 pips for GBP/USD then the StopLoss will be that level (Longtrade: SL = Low range – 5 pips = SellStop; Shorttrade: SL = High range + 5 pips = BuyStop)
-Move the SL to breakeven after a gain of 30 pips for EUR/USD and a gain of 40 pips for GBP/USD
-If a certain position is taken and price turns agains you and it breaks the other side of the breakout channel then turn. –If the breakout channel is broader then the stoploss first the stoploss will be hit. If the breakout channel is narrower then the stoploss then hitting the other side means that you have to turn your position. There is only one turn per time frame possible. This rule is a result of all previous rules. You can skip this rule if you want.
-At 24.00 CET all orders expiring and close all trades at market. On Friday we do the same at 23.00 CET.

That is short of it. You can find various articles and forums on the Hans 123 system. Most of it will be a little dated but you should still take the time to search a little and find out what you can. It may spark some thought process that leads you to your ideal forex trading system.

I have added some indicators found across the net. I have put them all in one file. I haven’t personally tried them all but you should know what to do with them by now.

Download: Hans 123 Forex Trading System Indicators

8 Responses

  1. etoro says:

    Is there any intelligence to trading FOREX or is it merely subject to interbank flows and basic supp/demand?

  2. GreatTradingSystems says:

    Human behavior, supply and demand, greed created bubbles, fear created crashes, constant removal of money, constant money inflow, crowd theory, chaos theory. All of the above play their part.

  3. Millwheels says:

    Hi
    I think this system is set up for 4 digits now all of them, I believe are 5 digit. I’m getting stops activated after 5 (should be 50) pips and profit target kicking in after 12(should be 120) in strategy tester. These values occur whatever the pair despite differing values appearing in the code. I’ve tried it on the dow too, which behaves in the same as the fx pairs. To have the ability to look at indices would be useful. I’m no programmer, unfortunately, but I guess these changes would be easy for a coder.
    This looks a very promising system – it’s a pity it’s unuseable at present apart from the trade set up levels it is still generating accurately.

  4. GreatTradingSystems says:

    Ultimately a “pip” is a pip. If you look at:-

    Set Target Price at entry + 80 pips for EUR/USD and entry + 120 pips for GBP/USD

    that will be for a 4 decimal place quote on GBP/USD.

    Obviously it was only set up for FX so not sure what use it would have on an index but nothing stopping you getting it coded by someone. But I think
    difference indices will need different target n stops based on experience.

  5. Millwheels says:

    Yes it is optomised for a lot of different pairs. One would have to do that for indices as well. As far as the pips go those figures of 80 and 120 get reduced to 8 and 12., which of course means a smaller profit and a massively more likely profit tgt to hit. What’s killing it though is the initial stop loss set at 50, which becomes 5 and means most trades can’t get off the ground.!

  6. GreatTradingSystems says:

    Thats why it is an FX system:-)

    Only become 8 and 12 if you want it too. Why not stay with 80 and 120? Or a factor of it.

  7. GreatTradingSystems says:

    Best not to play with trading systems too much imo. Either they work or they dont. If they dont….. move on and try something else.

  8. Millwheels says:

    lol!

    Ideally this EA should let one choose!
    Then one could optomise it for current conditions as well as forward testing. It needs to pass that test b4 I would put any money up to trade it.

Free Trading Systems. Metatrader Indicators.Expert Advisors.Forex Forum. Privacy Policy    
© 2009-2010 Great Trading Systems. All rights reserved.