Hi folks,
I read alot about trading here and there. This forum helped me and I tried a lot of systems from here. Some worked out ok, some miserable failed. It had to do with my mm and style of trading but in the end I came to the point that everybody should believe: you can't predict the market. You can't predict the direction the price will go.
I got inspired by FXTitan and his thread:
http://www.forexfactory.com/showthread.php?t=70464
I though about it and what if we would follow the following system:
You trade EUR/USD (spread: 2pips) and open
2 positions (1long, 1short) at the same price with T/P 5pips.
Once one of them gets hit you open another 2 positions at current price (same T/P) level.
And this goes on and on and on. You're right, there is no S/L at all that's why the T/P is so little. Eventually the position comes back and if so it doesn't have to hit a high level, 5 pips should do.
Hard part is the MM because you have to set the lot size as small as possible that you can easily handle 20 negative positions with e.g. 1000pips. So lot size as little as possible than you can let the pair swing as wide as possible.
Your account will constantly grow and after a while you will make your lot size bigger. This way you don't care whether your first positions are in the red.
I forward tested this system already and got amazing results. The thing is that you never loose and that the price very often does come back - if not, don't worry because you keep booking profits and as your account balance will grow you will wipe out the negative positions someday.
What do you think? Can it work? As I tried it manually I think it can only work if you do it via an EA. Why? Because you can't trade 24/5 and it will get really boring. It also doesn't have any entry rules, so you simply would click yourself to death
Does somebody has an EA for that already? I will look for one and if not maybe I will code one.
Let's discuss that and if there could be a chance of winning with such a system. Does somebody has expirience with this kind of sys already?
Cheers and Happy Trading
I read alot about trading here and there. This forum helped me and I tried a lot of systems from here. Some worked out ok, some miserable failed. It had to do with my mm and style of trading but in the end I came to the point that everybody should believe: you can't predict the market. You can't predict the direction the price will go.
I got inspired by FXTitan and his thread:
http://www.forexfactory.com/showthread.php?t=70464
I though about it and what if we would follow the following system:
You trade EUR/USD (spread: 2pips) and open
2 positions (1long, 1short) at the same price with T/P 5pips.
Once one of them gets hit you open another 2 positions at current price (same T/P) level.
And this goes on and on and on. You're right, there is no S/L at all that's why the T/P is so little. Eventually the position comes back and if so it doesn't have to hit a high level, 5 pips should do.
Hard part is the MM because you have to set the lot size as small as possible that you can easily handle 20 negative positions with e.g. 1000pips. So lot size as little as possible than you can let the pair swing as wide as possible.
Your account will constantly grow and after a while you will make your lot size bigger. This way you don't care whether your first positions are in the red.
I forward tested this system already and got amazing results. The thing is that you never loose and that the price very often does come back - if not, don't worry because you keep booking profits and as your account balance will grow you will wipe out the negative positions someday.
What do you think? Can it work? As I tried it manually I think it can only work if you do it via an EA. Why? Because you can't trade 24/5 and it will get really boring. It also doesn't have any entry rules, so you simply would click yourself to death
Does somebody has an EA for that already? I will look for one and if not maybe I will code one.
Let's discuss that and if there could be a chance of winning with such a system. Does somebody has expirience with this kind of sys already?
Cheers and Happy Trading