Any tested strategy with 80% + success rate ??
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  1. #1
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    Default Any tested strategy with 80% + success rate ??

    Hi .. I am a demo trader.

    So. .. far I learn dat Moneymanagement is the Holy Grail.

    I want to develop good Money management method. It will be very nice if you can share with me any good tested strategy which got 80%+ success rate producing as min as 5 pips a day.

    I belive if anyone master to catch 5 pips a day with 80%+ success rate can make living from 4X.

    Thanx in adv.

  2. #2
    scottyPIPin's Avatar
    scottyPIPin is offline Newbie
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    Saz, I am also a demo trader and what you're talking about is right up my alley. I am right there with you on a consistent system that may or may not produce a ton of PIPs... Afterall, if I could gain 10 PIPs a day, 2-3 days/wk across 20 pairs 80+% of the time, I could be as rich or poor as I choose, right?

    I am playing with some ideas that I think may have potential. I don't know if anyone else has though about it this way, but I call it swing 'scalping'. It's not scalping in the sense that I use the 1, 5, or even 15 min charts... I'm thinking more along the lines of the 4H. Finding a good strong trend on the 4H chart can produce 100's of PIPs on some pairs, but it can be risky and turn around at any second, so you have to know when to get out and when to stay in; however, my though is find that same trend and grab 10-20 PIPs and get out. Sure, you may leave a 200 PIP trend behind, but at least you got out with waht you came for without the large risk of chasing 'the big one'... and you should be able to do this very consitantly.

    Another method of though I have, while I'm on a little rant, is what about taking most of your money off the table when your small goal is reached, then adjust your stop and let the rest run till you either chicken out or see the trend reversing?

    Just some food for thought. Saz, if you have any suggestions I'd love to hear them. I will be happy to keep you in touch with what I'm up to if you like as well.

    Happy PIPin!

    Scott

  3. #3
    walkonwallstreet is offline Junior Member
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    Quote Originally Posted by saz View Post
    Hi .. I am a demo trader.

    So. .. far I learn dat Moneymanagement is the Holy Grail.

    I want to develop good Money management method. It will be very nice if you can share with me any good tested strategy which got 80%+ success rate producing as min as 5 pips a day.

    I belive if anyone master to catch 5 pips a day with 80%+ success rate can make living from 4X.

    Thanx in adv.
    just google ozfx.

  4. #4
    scottyPIPin's Avatar
    scottyPIPin is offline Newbie
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    Quote Originally Posted by walkonwallstreet View Post
    just google ozfx.
    ...Or look at the OzFX thread here at BabyPips... It's been getting quite a bit of attention, so it's usually near the top of the first page. Also, ForexFactory.com has a very extensive thread on it as well.

  5. #5
    walkonwallstreet is offline Junior Member
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    Quote Originally Posted by scottyPIPin View Post
    ...Or look at the OzFX thread here at BabyPips... It's been getting quite a bit of attention, so it's usually near the top of the first page. Also, ForexFactory.com has a very extensive thread on it as well.
    ozfx has awesome entry signal. but i have some problems following the money mangament. it againest the the golden rule: let your p run cut your R short

  6. #6
    scottyPIPin's Avatar
    scottyPIPin is offline Newbie
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    Thumbs up OzFX is a Winner

    Quote Originally Posted by walkonwallstreet View Post
    ozfx has awesome entry signal. but i have some problems following the money mangament. it againest the the golden rule: let your p run cut your R short
    Over the past couple weeks I've been tinkering with many different systems, even trying to devolope my own... Somehow I always seem to end up back at the OzFX system. It's just so easy to follow and understand... Yes, the money management can use a little work, but that can always be tweaked to your liking... I've been using MT4 visual mode to practice this and am doing really well with it. I'm around 75-80% success. I always wait for a corresponding signal between the AC and the AO vs just the AC. I may miss a few PIPs now and then, but I find that waiting produces more in the long run and reduces fake outs.

    One thing I have also been playing with is drawing Fib lines along with Support/Resistance lines with the OzFX system. It seems to be allowing me to understand why the price seems to retrace where it does. Pretty cool!

    Quote Originally Posted by saz View Post
    Hi .. I am a demo trader.

    So. .. far I learn dat Moneymanagement is the Holy Grail.

    I want to develop good Money management method. It will be very nice if you can share with me any good tested strategy which got 80%+ success rate producing as min as 5 pips a day.

    I belive if anyone master to catch 5 pips a day with 80%+ success rate can make living from 4X.

    Thanx in adv.
    Long story short, if you're looking to trade a system that has 80+% success, try OzFX. Being on the daily chart, news doesn't have a real large effect on things - it may get the market started in one direction, but your indicators should give you plenty of warning before your trade goes bunk.

    Plus, 5 PIPs/day min??? Try at least 25-50+/day... Combined with not having to sit in front of the computer for 9 hours a day watching for entry/exit signals and eat up PIPs with spreads and commisions. Just a few min a day to flip across a few charts and adjust stops...
    Last edited by scottyPIPin; 02-24-2008 at 05:08 AM.

  7. #7
    thundercv is offline Newbie
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    Default Starter ea

    Hy!
    I'm also new to fx trading.
    But I have had a lot of success with this ea.
    It very good, but you have to follow it.
    I use a stoch and relative stranght index to validate my entries.
    I use a tp of 10 pips. But I don't use a stoploss.
    If the trade goes 30 pips minut I open An opposite trade and close the first one if the trend is strong I can back those 30 pips and make a little profit.
    I works good for me.
    Try it out.

  8. #8
    jomni is offline Junior Member
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    5 pips? Is it worth it given that the spreads are usually 3 to 5 pips?

  9. #9
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    Hi Everyone,

    Its good to see so many replies. Thanx Scott for ur replies. I have been looking OZFX. For sure its good. But for beginner you need nerve to apply it in real account. 100 pips SL .. its bit too much for me at the momnet. Well in future I'll have no probs to follow OZFX but not now.

    Well with out sprade if I can get 5 pip net a day combinding from 8 to 10 trade sitting infront of the pc ... I dont mind . Coz... with proper money management you can make ROI nearly 1000%. so think about it

    Looking fwd to more replies.

  10. #10
    tonymand's Avatar
    tonymand is offline FX-Men Honorary Member
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    [QUOTE=saz;39932]Hi Everyone,

    Well with out sprade if I can get 5 pip net a day combinding from 8 to 10 trade sitting infront of the pc ... I dont mind . Coz... with proper money management you can make ROI nearly 1000%. so think about it

    As you will find out with more experience this would be an insane way to trade. 10 trades will cost you up to 50 pips in commission and you are looking for a profit level of 10% of that. Do more reading my friend and do NOT trade real money yet

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