SIBKIS system is a great system. It requires low maintenance, fast setup, and once per week monitoring!!! Moreover, it is a good winning system, making as much as 800 pips since february 2007 till August 2007, and trading only one pair, namely GBPUSD.
The setup for sibkis is as follows:
1 - As with the other system have Mondays off.
2 - Start of tuesday put a 110 pips block on the chart for the week (easier to see as on the attached chart.
3 - set up a buy and sell at the breakout points.
4 - When one triggers the other becomes the stop loss (so 110 pips)
5 - Add a reverse in case the first trade fails.
6 - Once the trade is running leave it alone and let it do its thing until Friday evening and close.
7 - Remember if the reverse trade triggers you will need to set a 110 pips stop on this.
8- Once +100 pips profit, change SL to Breakeven
Apart from setting the original triggers, adding the reverse trade and adding the new stop if required the only intervention I make is when there is important US data (NFP etc) on a Friday, when this is happening at say 3pm, I cancel the original stop loss at 2.50 and set a stop 30 pips away from the current market price to guard against any large reversal.
for more info and live test results, you can check http://www.myfxreport.com
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