I like your attitude, i’ll look forward to results…
Guy on FF had a same sort of method: 2ma’s & MACD. We would only take 10-15 pips while profit potential was way higher, but his winrate was about 95% and he traded 15-20 pairs (total of 2-3 trades a day I believe) Succesvol trader…
I’m really looking forward to this one Sounds like it’s right up my alley. When I was first looking at 4X, I was looking at the charts and saying to myself, “What if I could just get 10-15 PIPs/day consistantly…?”
Short position opened @ 1.4710 @ 07.49 GMT (8 lots)
No stop loss.
Signal was triggered, alarm was on so I entered earlier than usually.
But as you will see it was all I needed because EUR/USD was heading 1.4700 so I took that level as first support (because EUR/USD is always finding support around round numbers .00 .50), it was a little risky because I was only 10 pips away from .00 level (where it can jump). So I can’t profit from 10 pips and I entered with 8 lots for 7 pips profit.
I opened the position at 07.49 GMT with 8 lots for 7 pips profit. Why 7 pips ? Because 1.4710 - 7 pips = 1.4703 minus spread 0-1-2 it keeps me relaxed because the BID price won’t hit 1.4700 on my order.
@ 07.59 GMT EUR/USD Exit @ 1.4703
7 pips x 8 lots x 10 usd/pip = $560 profit for today. If you want to be smarter than me you would enter with a 5 pip profit target and you would have $400 profit in less time.
If I were a conservative I would close everything for the rest of the week because this trade was as much as 5 trades of $100. But I consider this only one trade as a usual day and I will continue my search for new perfect signals.
Today I missed a opportunity @ 7.30 GMT when USD/CHF retraced a little after turning those EMAs. I expected this to happen, my indicators warned me there is a good chance to gain another 10 pips, but I wasn’t on the chart on that moment so I lost it. And I never enter a trade if it’s out of my strategy. I know if I do this mistake it will turn against me faster than I think. And I know what I am talking about because you can see from the picture that it turned up strongly over 40 pips.
If you ever let your position open hopping that the pair will get back on your favor YOU ARE WRONG ! The big guys know the psychology of traders and that the majority think this way and that’s why it goes against to eat your stop losses or to get as much as they can from your balance
Now, about the trade, I should have enter at the close bar (@7.30 gmt) where I put the Aqua triangle and I would have got 10 pips in less than 10 minutes.
But, that’s life, I’m looking for other opportunities and I know there are many so I don’t mind I must be relaxed and entertained, otherwise I will bait not hunter
Good day everyone and I will get back if some signals are triggered.
I’ve been keeping an eye on this post since it first started and am still waiting for someone to actually explain the strategy… Anyone going to do so?
Thanks for explaining. The reason I quoted Piphacker is because they had asked if someone could explain the system and it never happened. I suppose I could have either quoted no one or the first post…
SL @ 10 pips (+ your broker’ spread) above the high of entry candle for short and bellow the low of entry candle for long. I never risk more than 10 pips.
Signal triggered first by crossing EMAs, breaking the trendline and then MACD and finally %R. All confirmed, that was a 100% sure trade. This is what I want people to understand, perfect setups happen everyday, you must be present when they happen and that’s all, the market does the rest. If you feel 10 pips target gives you some kind of fear, no problem enter for 5 pips target with 2 lots, it’s the same thing
Another 10 pips profit for today, that means another $100. And I was among first ones who cashed in Trading hour was good. That was all for today, I let other traders to take the rest of the cake. I can go out now and have a tea
Iam a begginer, and don’t understand your set up in Filters, it is said “8%R (levels-80 -20 visible) over 13 RSI”. Is this a set up for RSI? what is the numbers for it and what is % mean. Please help me to understand. Thank You
We had today 2 signals, 2 opportunities that gave another 30 pips of profit.
Here they are:
BUY @ 1.9861, 2 lots, profit target: 1.9871
Time of trade to reach target: 5 Minutes
Target reached @ 1.9871
Profit: 10 pips x 2 lots = 10 pips x 10 usd per pip x 2 lots = $200 USD
And second trade was minutes ago from this moment when USD/JPY made a move, I saw MACD turning upside and %R was under -20 so perfect signal. Here it is:
I would like to share with you today a missed trade but from my perspective was a smart move.
Here is the chart and bellow it a small commentary about it:
Hour was 7.30AM GMT, proper time, good signal, MACD turned down, %R was above -80 level, I was ready to open a position at 103.16 for 10 pips, SL @ 103.42, [B]BUT[/B] one thing didn’t fit over there, and that is the movement didn’t break the regression channel, so for me that’s a sign there is a possibility to retrace a little (and for UY, EY or GY a little means at least 30 pps). And as you can see it moved back to 103.47 so would have eaten my stop loss going over it with 5 pips.
So I missed this trade, but I don’t mind, I saved 10 pips. I’m sure there will be more soon. For example: EUR/USD and GBP/USD are ranging right now and I’m sure they will go somewhere soon, so I expect it to happen and if I’m there I will take my 10 pips of glory