Hi Traders,
I was studying a daily chart for the Eur/Dol chart when I noticed a small pattern. I started trading it and it almost always wins pips. It is averaging over 90 pips a day or 6 lots (on 3 currency pairs). I would like some you folks that been trading longer then me to look over this simple system tell me if am crazy or just getting lucky and possible help me maximize its profits. Its extremely simple. I have back tested it and now currently live testing with a mini account and it has winning trades pretty much daily. The win to loss ratio is way out of balance and but I don't think the system works any other way. I losing day can take 5- 10 days worth of trade profits. There have been way more winners then losers so it balanced out in (+) pip favor.
System:
at the close of the day 5:00 pm Eastern pull up your daily chart. I draw a line one pip above the high and 1 pip below the low. Those are my long/short and stops.
I will use Eur/Dol for example:
(Sunday) 5pm Long (2 lots) 1.2784 Stp 1.2722 Limit (PT) Order 15 pips 1.2799
Short 2 Lots 1.2722 Stp 1.2784 Limit (PT) Order 1.2707
Long trade was opened and few minutes later 15 pip limit profit targeted hit.
30 PIP PROFIT
(Monday) 5pm Long 1.2821 Stp 1.2752 Limit (PT) 1.2836
Short 1. 2752 Stp 1.2821 Limit (PT) 1.2737
30 PIP PROFIT
I am currently trading 3 pairs each day. I take 2 lots but only 1 lot on a new pair. Most of the currency trades don't work with this method and a quick look at a daily chart will prove it.
Gerald - fullauto
I was studying a daily chart for the Eur/Dol chart when I noticed a small pattern. I started trading it and it almost always wins pips. It is averaging over 90 pips a day or 6 lots (on 3 currency pairs). I would like some you folks that been trading longer then me to look over this simple system tell me if am crazy or just getting lucky and possible help me maximize its profits. Its extremely simple. I have back tested it and now currently live testing with a mini account and it has winning trades pretty much daily. The win to loss ratio is way out of balance and but I don't think the system works any other way. I losing day can take 5- 10 days worth of trade profits. There have been way more winners then losers so it balanced out in (+) pip favor.
System:
at the close of the day 5:00 pm Eastern pull up your daily chart. I draw a line one pip above the high and 1 pip below the low. Those are my long/short and stops.
I will use Eur/Dol for example:
(Sunday) 5pm Long (2 lots) 1.2784 Stp 1.2722 Limit (PT) Order 15 pips 1.2799
Short 2 Lots 1.2722 Stp 1.2784 Limit (PT) Order 1.2707
Long trade was opened and few minutes later 15 pip limit profit targeted hit.
30 PIP PROFIT
(Monday) 5pm Long 1.2821 Stp 1.2752 Limit (PT) 1.2836
Short 1. 2752 Stp 1.2821 Limit (PT) 1.2737
30 PIP PROFIT
I am currently trading 3 pairs each day. I take 2 lots but only 1 lot on a new pair. Most of the currency trades don't work with this method and a quick look at a daily chart will prove it.
Gerald - fullauto