40 - 80 pips Daily with EURUSD

[Jay_D]

Anyone still using this?

[diliale]

I have tried this strategy works, cos i tried it in a differently… used fibonacci instead.:):)

[nagarajnow]

hi still is this method works??

[felixomor]

I Think this will work, provided you stay out of forex news release periods

[NE0]

why wait for anyone else Michel??

I wouldn’t bother hanging around kicking your heels waiting for others to confirm something for you. Roll your sleeves up, get out there & test/research things for yourself

you’ve got a couple options already on here about how to go about configuring this simple little set-up.

as long as you trigger it in-line with the [B][U]dominant trend[/U][/B] & wait patiently until a set-up offers you a Grade A entry, you’ll reduce your risk & increase your odds of a positive outcome.

I’ve only flipped back on this weeks Euro activity to haul up these couple examples, but I’m sure if you scroll back on a few more pairs you’ll uncover more simple, top tier opportunities.

here’s one from Monday on the 5 minute Euro chart, rejecting last weeks high.
Remember, if you’re playing extra safe then only consider executing trades in step with the dominant trend/price flows, yeah?
Ignore any counter trend signals until the price flows say otherwise.

this move was worth over 70 pips if you allowed it to run onto end of day.

couple more examples on the 5 minute chart from Wednesdays action. 1st trade was a break-even unless you closed it out as it washed around going nowhere into late european/early U.S trade.

but the 2nd opp was good to go as it spiked & rejected the big figure (1.30). that sweety was worth well over 150pips into the satchel during late U.S trade.

and that’s just a couple opportunities on [B]one[/B] instrument this week!

if you manually backtest the set-up on your 60min chart, obeying similar analysis/research planning etc, you’ll see the risk to cost potential of this type of common sense, simple price action based trigger.

simple is ([B]always[/B]) best where price action structure is concerned

There’s no clearly defined exit point. It just takes you to break even or worse.

[d-pip]

There’s no clearly defined exit point. [B]It just takes you to break even or worse[/B].

Neo,

Back in 2009 I traded this strat and it actually worked fairly well.
In those days the ATR of the EUR/USD was roughly 140 to 180 pips per day and the market had a bit more zip. With the recent EUR/USD daily ATR somewhere under 100 pips per day, this strat sucks!

But having said that, if you follow JimmyMac’s advice and trade in-line with the dominant trend and try lowering the retrace and profit target it might be worth forward testing to see if it has any merit.

[tyepips]

interesting strategy if you combine it with your own style of trading. although the credibility is somewhat lacking since this dude was banned

[Jay_D]

What indicator is that and what settings please?