Hello Traders,
I have developed a system that has been very consistent and profitable over the last 45 days (well 45 24 hour periods).
The system uses No touch Bets on BetonMarkets.com, and if the trade goes the wwrong way we use hedging. The basic Strategy:
1. Look at forex factory news calendar for the day you wish to trade. Choose a pair that has No major News coming out (or only medium impact or below news). This is to turn the odds in our favour that there will no large swings in that curreny pair.
2. Towards the end of the day (after 5pm GMT) place a no touch bet on betonmarkets.com such that the bet will be so far away from the current price action as to give a 5% profit. the way Betonmarkets do this is you select a payout you want: e.g. £100, this bet will cost you £95: so in 24 hours if the markets has not touched the level then you will get 100-95 =£5 profit.
The whole point is that you choose a level so far away from the current price action (typically 150+ pips) so that there is a very low risk of it being hit and making sure no volatlity inducing news is coming out over that 24 hour period.
3. If the price action heads rapidly towards our level, we can hedge.
I personally will look to see if a support/reistance level is broken and place a buy/sell order a few pips above/below thatm heading towards our no touch level. e.g. we bet the eur/gbp is going to be below 0.818, the current price is at 0.812, we could enter a buy order at recent resistance inbetween this range, so that we are hedged.
Well thats it, the profit speaks for itself, over the course of 45 24 hour periods i have turned £200 into £1797 using the method above.
p.s. I am NOT trying to sell betonmarkets.com service, in effect they are a low cost forex options provider to the retail client. I use them the same way as if i way trading forex options.
UPDATE:
I have decided to log my account growth to see if this system has potential in the long run. All % will be gain/loss on previous day.
07/05/11: new account £600
08/07/11: account +7.5% : £645
09/05/11 account +8.5% : £700
11/05/11 account +6.0% : £742 (lower risk trade)
15/05/11 account +8.5%: £800
16/05/11 account +5.0%: £840
Thanks, any questions just ask
Happy Pippin
I have developed a system that has been very consistent and profitable over the last 45 days (well 45 24 hour periods).
The system uses No touch Bets on BetonMarkets.com, and if the trade goes the wwrong way we use hedging. The basic Strategy:
1. Look at forex factory news calendar for the day you wish to trade. Choose a pair that has No major News coming out (or only medium impact or below news). This is to turn the odds in our favour that there will no large swings in that curreny pair.
2. Towards the end of the day (after 5pm GMT) place a no touch bet on betonmarkets.com such that the bet will be so far away from the current price action as to give a 5% profit. the way Betonmarkets do this is you select a payout you want: e.g. £100, this bet will cost you £95: so in 24 hours if the markets has not touched the level then you will get 100-95 =£5 profit.
The whole point is that you choose a level so far away from the current price action (typically 150+ pips) so that there is a very low risk of it being hit and making sure no volatlity inducing news is coming out over that 24 hour period.
3. If the price action heads rapidly towards our level, we can hedge.
I personally will look to see if a support/reistance level is broken and place a buy/sell order a few pips above/below thatm heading towards our no touch level. e.g. we bet the eur/gbp is going to be below 0.818, the current price is at 0.812, we could enter a buy order at recent resistance inbetween this range, so that we are hedged.
Well thats it, the profit speaks for itself, over the course of 45 24 hour periods i have turned £200 into £1797 using the method above.
p.s. I am NOT trying to sell betonmarkets.com service, in effect they are a low cost forex options provider to the retail client. I use them the same way as if i way trading forex options.
UPDATE:
I have decided to log my account growth to see if this system has potential in the long run. All % will be gain/loss on previous day.
07/05/11: new account £600
08/07/11: account +7.5% : £645
09/05/11 account +8.5% : £700
11/05/11 account +6.0% : £742 (lower risk trade)
15/05/11 account +8.5%: £800
16/05/11 account +5.0%: £840
Thanks, any questions just ask
Happy Pippin