-------------------------------------------------------------------------------- Hi Folks This is a simple system for trading euro usd only At midnight CET + 1 minute place buy and limit sell orders on euro usd . Buy at previos day's low (24 hour daily candle) and sell at previous day's high . Take profit is 100 pips and stop loss is 40. This system is profitable for last 3 years.It made about 500 pips a year I use the advanced version on metatrader experts advisors which is not available publicly Oilfxpro
So let's take last week as an example. On Monday you did nothing - price didn't hit neither Friday's high, nor low. Tuesday you sold at 1.4883 - couldn't sell it at 1.4783. What do you do? Hold, get out, wait for stopping out? Wednesday you buy at 1.4808, even though you have a short position from Tuesday? Or you don't take new positions until the previous one is taken out? The idea is interesting, but one needs to know that it only works in trending markets. For the past 3 years EUR/USD has been trending. Now its a choppy market and you can very easily cancel a year's worth of profits. If you make 500 pips per year, you can cancel it in a week or a day. Thus you need very efficient position management rules, hence my questions.
You don't do anything until the system gives a signal on expert advisor.Free metatrader demo accounts are available from some brokers. If you guys want to improve this system and post improvements , I have no objection Make some improvements and it will work for you.All the questions can be answered by yourself My private version makes about 2,000 pips a year on futures accounts or 40 pips week on average OILFXPRO
Didn't you say the signal was previous day's high/low? What is the signal then? Also, now its 2000 pips? Up from 500 pips in 15 hours? What am I missing?
It is the previous's day's high low at using 24 hours CET. The version posted here made 500 pip a year.IT IS THE SIMPLE VERSION I pointed out in the first post that I use an advanced version which make 2,000 pips a year .That version is not available publicly as it under development and testing.Releasing the advanced version before it is complete can lead to chaos. You can develop a public version and improve the simple version ,then post it OILFXPRO
500 pips a year? You mean you trade about 250 days a year with daily 100 point targets and 40 point stops and make 500 pips the entire year? You are averaging just over 40 pips a month. Was that a typo or am I missing something? Seems like the prob of profit is really low and the losing trades really eat into your capital at times and churn the account quite a bit.