I’ve been using this strategy for about 2 weeks, 8 out of 10 trades made profit:
since EUR/USD and GBP/USD move almost the same, Place 2 pending orders:
1st. Buy EUR/USD 15 pips away from where the price is.
2nd. Sell GBP/USD 15 pips away from where the price is.
Or the other way around.
Stop Loss : 10 pips from entry
Take Profit: 45 pips from entry
No charts, no indicators …
Well…I am a big fan of the “K.I.S.S” rule…allow me to ask the basic questions
1 - What time frame do you use ?
2 - Do you enter at the same time every day, or just “whenever” ?
3 - When you win a trade it equals +35 pips and when you loose its -20 ?
4 - Have you seen any issues with wipshaw yet ?
5 - Why not just open the buy and sell on the same chart ?
Just some things that jumped in my head when i read this. 
I would think an even easier way would be to play the EUR/USD and USD/CHF since they basically mirror each other, going opposite to each other … either go long both or short both 
I agree !!!
But either way, I still believe whipshaw is going to get ya. your figure you would have to place buy orders in both markets at the same time.
S/L = 10 - Spread
T/P = 45 + Spread
Never hurts to try i suppose. I have never done this, but I would look more into…Making a buy and sell order at the start of a new daily candle on EUR/USD. Then making the “buy” with a S/L of yesterdays low, and a T/P of yesterdays high +25 / Make the “sell” with a S/L of yesterdays High, and a T/P of yesterdays low -25…
These all evolve around the same basic idea…but I believe a market bounce would hurt.
Hi mtandk0614，
Do you mind sharing some examples of your trades? We can learn more from real life examples.
The idea seems simple enough, but mtandk0614 makes a very valid point about the whipsaw if you don’t monitor this type of trade. A market bounce could trigger one trade then run it back to your stop. It could then keep moving until it triggers the other trade and then back off until it hits the other stop. You don’t lose that much, but you aren’t making that much when you win either. If your win-loss ratio always stayed pretty high then it would be alright, but that seems pretty random. Of course any idea with a high win-loss ratio is gonna look alright at first glance. Worth testing.
My trades…ummm, well my trades are nothing to mimic. I belive the best way to learn something is to dive in head first. Using that point of view I started trading by opening a live account through IBFX with $300 (USD) and I trade Minis that equal $0.01 per pip. as of now I am sitting at $84.xx
Now, I will say that I was making money…then made 2 very large mistakes.
#1 - I wasnt paying attention and made a $5.00/pip trade that went wrong and cost me $170, #2 - Then I did what most newbies do…I tried to make up for it, so I made another $5/pip trade…you can guess where that went LOL.
I belive in small pip runs 5-10 pips per day…then when I get that mastered, I will simply increase the value of each pip. So as of right now I am discovering who I am as a trader, and a system that fits my style. Including t/p values (ie…do I want 1 +5 pip trade, or 5 +1 pip trades) and stop losses as well (considering the spread of 2-3 pips…if i go w/ a 1:1 risk ratio, then if the price moves against me 2-3 pips I am out of the trade).
If I ever get this figured out, I am happy to share my experiances and method w/ people…but till then…my real life examples would not help much
um, buy EUR/USD and sell GPB/USD is effectively the same as buy EUR/GPB. what’s the point in doing two instead of one?? also, this would (long-term) net you 35pips daily assuming you do it totally blind, totally religious, and do an equal split of long E/G and short E/G, and always the same lot size regardless of balance (or once you change lot size, you keep it set for at least 100 trades) also, this assumes you don’t experience a draw-down that gets you to a margin call. it also assumes that random market movement & volatility is always less than 10pips or more than 45pips.
yeah, too many assumptions 
Hedging and correlation is a nice thought in Forex. It’s a good thing you are using stops. A few years ago I ran into a clever trader who used similar strategies but without the hard stops. He would monitor the correlations. When the trade went negative for a day or two, he would add another pair to offset the losing pair of the correlation. SOmehow, someway he got profitable most times. There were significant drawdowns at times… That seems to be the catch with correlation trading, but again, you have stops,so maybe some of that is rectified.
Me personally I backed away from the correlation trades and just trade options on some of the currencies.