I have been looking into a mechanical trading strategy based on GBPUSD Asian breakout: Set buy stops & sell stops 5 points outside the 5-9am (or 4-8am) range Set stop loss 70 points away (or at opposite end of range) & take profit 120 points away Move stop loss to break even if trade moves 40 pips in your favour Close any positions & unfilled orders at 23.00 daily I have done some back testing over 12 months & the results look fairly positive (max profit approx 5-6 times max drawdown). The strategy gets stopped out quite often, but the winners more than outweigh the losers. I would welcome views on such a strategy