Simple GBPUSD Strategy (No Indicator Needed)
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  1. #1
    Join Date
    Aug 2010
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    39

    Default Simple GBPUSD Strategy (No Indicator Needed)

    I will show you how can you make profit from forex with the simplest system:

    Currency Pair: GBPUSD
    Time Frame: Any (H1 is better)

    Trading Rules:

    1- Open your chart on 08:00 AM (GMT).

    2- Find the Maximum Price and Minimum Price between 21:00 PM (GMT) to 08:00 AM (GMT).
    (For example If your broker time is GMT+2, so you should find the maximum and minimum price between 23:00 PM to 10:00 AM on your chart.)

    3- You have 2 numbers. Maximum Price & Minimim Price. Now should open 2 pending orders:

    Buy Stop:
    At: (Maximum Price + 2 pips)
    T/P: (Maximum Price + (Maximum Price - Minimum Price))
    S/L: (Minimum Price - 2 pips)
    Expiratory: Next trading day at 08:00 AM (GMT)

    Sell Stop:
    At (Minimum Price - 2 pips)
    T/P (Minimum Price - (Maximum Price - Minimum Price))
    S/L (Maximum Price + 2 pips)
    Expiratory: Next trading day at 08:00 AM (GMT)

    4- Now you can even turn off your computer and sleep. If any of above pending orders activated, let it touch T/P or S/L it self. It may takes some hours or even some days. Please never close it manually.

    Inactive pending orders will expire next trading day at 08:00 AM (GMT). At this time you should go to the first stage and repeat this cycle for the next day.

  2. #2
    Join Date
    Aug 2010
    Location
    Pakistan
    Posts
    56
    Please correct me if i am wrong but is this not similar to trading daily breakout? Because you are essentially setting a trade before the start of the day with entry orders at previous day's high and low.

    I think this is an extremely good method when the market is trending like GBP/USd has been in past few days. The only problem with such methods is the big stop losses.

    It would be nice if you can post some charts.

  3. #3
    Join Date
    Aug 2010
    Posts
    39

    Default Some Recent Results for this strategy

    Result in pips:

    2010.08.27
    2010.08.26
    2010.08.25 +73
    2010.08.24 No Trade
    2010.08.23 +90
    Sum of above week: +18 pips

    2010.08.20 +60
    2010.08.19 -93
    2010.08.18 +90
    2010.08.17 +67
    2010.08.16 -106
    Sum of above week: +18 pips

    2010.08.13 No trade
    2010.08.12 -99
    2010.08.11 +102
    2010.08.10 -131
    2010.08.09 + 53
    Sum of above week: +3 pips

    2010.08.06 -52 +52
    2010.08.05 -91
    2010.08.04 +48
    2010.08.03 -97
    2010.08.02 +102
    Sum of above week: -38 pips

    2010.07.30 -58 +58
    2010.07.29 -71
    2010.07.28 -64 -64
    2010.07.27 -69 +69
    2010.07.26 +91
    Sum of above week: +20 pips

    2010.07.23 +68
    2010.07.22 +61
    2010.07.21 No Trade
    2010.07.20 -98
    2010.07.19 +83
    Sum of above week: +119 pips

    2010.07.16 +71
    2010.07.15 +54
    2010.07.14 +87
    2010.07.13 +82
    2010.07.12 -121 +121
    Sum of above week: +294 pips

    2010.07.09 +70
    2010.07.08 +79
    2010.07.07 +74
    2010.07.06 -125
    2010.07.05 +41
    Sum of above week: +139 pips

    2010.07.02 -53
    2010.07.01 +101
    2010.06.30 +45
    2010.06.29 +75
    2010.06.28 +52
    Sum of above week: +220 pips

    2010.06.25 -62 +62
    2010.06.24 -70 -70
    2010.06.23 +75
    2010.06.22 -72 +72
    2010.06.21 -130
    Sum of above week: -195 pips

    2010.06.18 -80 -80
    2010.06.17 +92
    2010.06.16 -65 -65
    2010.06.15 -72 +72
    2010.06.14 +121
    Sum of above week: -77 pips

    2010.06.11 +70
    2010.06.10 +111
    2010.06.09 +92
    2010.06.08 +68
    2010.06.07 +73
    Sum of above week: +314 pips

    2010.06.04 -46 +46
    2010.06.03 +108
    2010.06.02 +139
    2010.06.01 +103
    2010.05.30 +98
    Sum of above week: +448 pips
    Last edited by melodica; 09-01-2010 at 06:51 AM. Reason: Update Results

  4. #4
    Join Date
    Aug 2010
    Posts
    39
    Quote Originally Posted by Raza View Post
    Please correct me if i am wrong but is this not similar to trading daily breakout? Because you are essentially setting a trade before the start of the day with entry orders at previous day's high and low.

    I think this is an extremely good method when the market is trending like GBP/USd has been in past few days. The only problem with such methods is the big stop losses.

    It would be nice if you can post some charts.
    You are almost true
    But there is a difference between Daily Breakout and this strategy.
    I don't us previous day's high and low.
    I use high and low between 21:00 PM to 8:00 AM (GMT)

    This strategy is suitable for traders which have not sufficient time for looking at charts every minute. (like me )

    Every one may set 2 pending orders at 8:00 AM (GMT) and close the chart.

  5. #5
    Join Date
    Aug 2010
    Location
    Pakistan
    Posts
    56
    I have quickly gone through some past data and the method seems very promising. I must say good work on your part.

    Have you tested this method on other pairs? EUR/USD maybe?

  6. #6
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    Aug 2010
    Posts
    39
    Quote Originally Posted by Raza View Post
    I have quickly gone through some past data and the method seems very promising. I must say good work on your part.

    Have you tested this method on other pairs? EUR/USD maybe?
    I will complete these results for previous months for GBPUSD.
    I have testes other pairs.
    It is not good for EURUSD.
    It works on EURGBP and GOLD. But in some different hours.
    There results are not as well as GBPUSD but they are reasonable.

    I will work on other currencies and will publish the results here.

    Also I am working on Expert Advisor for this strategy.

  7. #7
    Join Date
    Aug 2010
    Posts
    10
    You will have to excuse me Melodica because I am completely new to Forex.

    What does T/P and S/L mean?

  8. #8
    Join Date
    Aug 2010
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    12
    T/P is where you take profits and close the trade.

    S/L is where you take your loss and close the trade.

  9. #9
    Join Date
    Aug 2010
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    39
    Quote Originally Posted by Kuzco View Post
    You will have to excuse me Melodica because I am completely new to Forex.

    What does T/P and S/L mean?
    "plasticjack" has answered your questions.
    Please feel free to ask any question.
    Last edited by melodica; 08-12-2010 at 03:00 PM.

  10. #10
    Join Date
    Aug 2010
    Posts
    10
    Quote Originally Posted by plasticjack View Post
    T/P is where you take profits and close the trade.

    S/L is where you take your loss and close the trade.
    Quote Originally Posted by melodica View Post
    "plasticjack" has answered your questions.
    Thank you very much
    Last edited by PipsyGirl; 08-12-2010 at 04:18 PM. Reason: cleanup

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