Good stuff, PPF. This is the kind of strategy I daydream about when I am all “strategied” out. My favorite daydream currently is a massively-leveraged jump-in trade as price ‘trumpets’ out of a tight bollinger squeeze. But I think yours is probably much better. 
I think “stops” means is when price stops moving vs stoploss if that’s what you’re thinking.
+2 +3 etc is the profit in pips he takes per trade if that’s when price stops moving on each trade…many trades per sitting…maybe?
These are exactly the reason(s) I trade this, you don’t get ‘strategied’ out (‘strategied’ out - a great way of putting it) you practice, practice, practice until you get the hang of it, and then it really is Bobs your Uncle, Fanny’s your ant and all that, you can just continue trading like this without the worry if your system will hold true in the future.
Have you tried this with the 1 min chart?
Timeframe is irrelevant really, I find the 5 mins best, you could go to a longer timeframe if you like, but not down to 1 min.
Purple, if you ever recorded your desktop (with narration) while trading this way and posted it on YouTube, I’d think you’d have about 50 new Best Friends.
I spent [I]all[/I] last night thinking about this, visualizing it in my head and clearly the spread is everything. Even an extra pip’s worth could seriously handicap your success rate.
By looking at the other three pairs, you are doing your best to gauge when momentum is going at least fast/far enough to carry your trade the one or two pips you are targeting, plus the spread. If it goes south in those brief moments you must close manually quickly or have a 2-pip stop already in place at the start of the trade.
Am I understanding the nuances so far?
clearly the spread is everything
It was mentioned already but this may work best with certain brokers and be impossible with others. If any one is going to try this I would suggest first trying this [B]exactly[/B] the same way PPF is. Set up a demo with the same broker he is using. Once you get it down and understand it, then try it with your broker. If it wont work with your broker and you want to trade this for real start a new account.
Youtube - I’ve done exactly that, the best copy though is the original on my website - all freely accessible.
You have got it though - ahh a man after my own heart - that is exactly what you have to do, imagine it, imagine the market starting to move smoothly, you know it does, you’ve seen it move so many times in a smooth manner in the same direction, all I’m doing is trading when that happens and with the four pairs up like that you can jump on it.
Imagine, Imagine, Imagine.
Practice, Practice, Practice.
Demo, Demo, Demo.
Repeat above 3 until successful - go live and make money.
I couldn’t have put it better myself.
But with the spread is everything, yes in a way, but specifically - CLEARING THE SPREAD, which with practice you invariably manage to do so, giving you a virtually, without categorically saying it, because there is no such thing - a No Loss system.
I just wonder why you bother to sell a subscription service if you make so much actually trading. I always wonder that about anyone who sells anything forex related.
Like the accent. You sound Irish.
Good question, it’s because I want to spread the karma, it’s because I feel it in my soul that it is my destiny to share this with as many people as I can so that the whole world of retail traders can benefit!
As if, it’s because I want the money of course, I have a 5 yearish plan and being able to earn as well as trading Forex will let my capital grow.
See on my money management plan, £1000 turns into £10000 in 1 year, without going into details but those figures are/were very relevant to me, and being able to not take a salary from my capital will make a HUGE difference.
PLUS honestly, I so enjoy it, I keep telling people it’s my little train set, I started programming on a ZX81 when I was a youngster and I’ve never been able to give it a rest, nearly everywhere I’ve worked in the past I’ve not been able to resist implementing a system, mainly quick wins, less effort most impact, and this is no different, I like to think I’m not competitive, but I have to admit that I am.
I have a question about time periods. You seem intent on just those periods immediately after a session open, which is understandable. There is good volatility there. But why not trade any time from the start of the London session on through London close? That entire second half of the London session with the NY overlap tends to be volatile for the majors.
I realize sitting at one’s monitor for hours with this system could lead to impulse trades that don’t fit the exact criteria of the system - and thus lead to failures. But assuming one is patient enough, could one not sit for as long as possible, say for the length of the London/NY overlap period and possibly get more than one instance of a good cat-and-mouse trade?
Can you have a look at this post http://forums.babypips.com/free-forex-trading-systems/33326-complete-cat-mouse-system-money-management-2.html#post183590
If you still have questions please ask.
Well this doesn’t look viable with my crappy FXCM Micro account. We used to have great spreads, but they jacked up those in anticipation of moving us to No Dealing Desk Execution (which of course we haven’t gotten yet). The higher spread for GU seems to be hovering around 3 pips during the cat-and-mouse hours.
I tried to see what this felt like today and it seems like a real challenge to sit there waiting for such a strong move that would carry me past the spread. But I only tried it for an hour or two…
I was thinking about using a correlation divergence strategy and now I see this correlation convergence strategy. Do you check for correlation divergences at all, once a day/week/month?
I have only ever traded this on IKON Royal and then with a custom buy/sell module I had until they closed all UK accounts and now on Oanda, you really do need a good broker and more than that a way of executing the trade quickly.
With Oanda you can have a BUY windows and a SELL windows open, open with one and close with the other with a single click.
I keep making the assumption that this is understood, but it isn’t unless you’ve used OandA.
I never take anything more than [B]WHAT IS HAPPENING NOW[/B] into consideration.
FXCM must read this forum. 
A day after I griped about it, my account was one of the ones chosen next in line to convert over to NDD. Now I should be able to put a tighter stop in right on top of the entry; it’s just a matter of the spread being good enough to make it work.
And I can place an instant order by opening the Market Order window and waiting for the right moment to single-click the trade. I need only chose either the Buy or Sell radio button.
Now it would be just a matter of great patience to try this out for a week and see how I do.
I really can’t recommend this setup at all for you, it’s going to be really tough to keep an eye on all the pairs like you need to because the charts are too far apart, and I’m not sure if you will be able to execute as you need to.
A week is far from long enough to give it or any system a go in my view, it may be just long enough for you to decide if you want to persevere with this approach.
If you’re not doing it right, the high leverage will kill you.
Let us know how you get on.
So in a nutshell, you’re waiting for a correlated divergence between the 4 pairs to show up, you take 1-? pips out of the move, and you’re done for the day?
You listed totals, and there are usually 5 numbers, which would signify a week’s worth. Or are those totals more than one trade in a day?
Divergence! no,no,no, divergence doesn’t come into it, you’re thinking too much about it, all you’re waiting for is really for the USD/CHF to star making a solid move in a smooth market and the other pairs following that move, EURGBP in the same direction or pushing in the same direction at least and then the GBP and the EUR in the opposite.
You refer to usually there being 5 numbers, not sure what you mean, but again I think you’re taking something that you don’t need to into consideration.
They key to it is just recognising the move that will clear your spread and then just go with the trade until it stops moving.
It’s based very much on the theory that that market will continue to do what the market does until it does something else, so if it’s moving smoothly in one direction, it will continue to do so until it stops.
I do get losses like 0.5 or 0.9 sometimes and this is key to being profitable, come out then don’t wait for it to lose more, you want to be out of a losing trade quick as pos.