Hi guys,
This will be my last system/method I post a for a while....
My dream for a long time in the forex has been to create a mechanical system that performs well. I hate staring at the charts all day waiting for a good set up. I just want to put my trade in and be done.
I know this sounds lazy but charts can really get old after a while and really emotions are sometimes hard to deal with as well.
What I've come up with here is a method that allows you to put 1 trade per day in at 9 am EST.
-1:2 win loss.
-attempt at making around 20 pips a day
-high accuracy
-no emotions.
-set SL and set TP for every trade.
-looks profitable long term.
Rules,
-At 9 AM EST or after place a buy order 1 pip above the 8am candle
-At 9 AM EST or after place a sell order 1 pip below the 8am candle.
-FOR SELL, SL is set 1 pip above the 8am candle
-For BUY, SL is set 1 pip below the 8am candle
-TP is always half of your SL value. So if your SL is 50 pips your TP is 25.
-When first order hits profit be done for the day
-Make sure you put your buy in when when 8 am candle high is broken by 1 pip. This will almost always alow you to make 50% of your lost pips back.
Before you bash the win loss ratio of this system just look at the performance sense November 2010.
Starting today jan 28th going backwards to nov 1st in pip count. keep in mind that the - is negitive pips. I tried to make this as acurate as possible but give or take 0-3 pips per trade depending on the broker spread and slight price difference.
22
26
-32-32
20
17
18
-54+27
20
18
-55+27
-45+22
48
30
13
18
41
-49+24
31
21
13
9
14
9
17
17
18
-38+19
21
20
-28+14
12
13
22
29
21
21
-44+22
26
-42+21
24
55
-100+50
29
21
25
20
17
-61+30
27
25
-30+15
14
23
25
-40+20
25
-29+15
-56+27
20
-36+22
30
20
11
-35-35
15
toltal +575 pips
I think this system as of now is very tradable. I think that with some suggestions it may become even better. I've tested it some on the GU and it also looks good. I will run a back test later today or this weekend...
This will be my last system/method I post a for a while....
My dream for a long time in the forex has been to create a mechanical system that performs well. I hate staring at the charts all day waiting for a good set up. I just want to put my trade in and be done.
I know this sounds lazy but charts can really get old after a while and really emotions are sometimes hard to deal with as well.
What I've come up with here is a method that allows you to put 1 trade per day in at 9 am EST.
-1:2 win loss.
-attempt at making around 20 pips a day
-high accuracy
-no emotions.
-set SL and set TP for every trade.
-looks profitable long term.
Rules,
-At 9 AM EST or after place a buy order 1 pip above the 8am candle
-At 9 AM EST or after place a sell order 1 pip below the 8am candle.
-FOR SELL, SL is set 1 pip above the 8am candle
-For BUY, SL is set 1 pip below the 8am candle
-TP is always half of your SL value. So if your SL is 50 pips your TP is 25.
-When first order hits profit be done for the day
-Make sure you put your buy in when when 8 am candle high is broken by 1 pip. This will almost always alow you to make 50% of your lost pips back.
Before you bash the win loss ratio of this system just look at the performance sense November 2010.
Starting today jan 28th going backwards to nov 1st in pip count. keep in mind that the - is negitive pips. I tried to make this as acurate as possible but give or take 0-3 pips per trade depending on the broker spread and slight price difference.
22
26
-32-32
20
17
18
-54+27
20
18
-55+27
-45+22
48
30
13
18
41
-49+24
31
21
13
9
14
9
17
17
18
-38+19
21
20
-28+14
12
13
22
29
21
21
-44+22
26
-42+21
24
55
-100+50
29
21
25
20
17
-61+30
27
25
-30+15
14
23
25
-40+20
25
-29+15
-56+27
20
-36+22
30
20
11
-35-35
15
toltal +575 pips
I think this system as of now is very tradable. I think that with some suggestions it may become even better. I've tested it some on the GU and it also looks good. I will run a back test later today or this weekend...