no skill is required and no stop losses are used.
you will double triple and multiply your account faster than you can spot market movements.
Rules.
only trade gbp/jpy
only place buy orders (so always making money on the interest differential.)
Place first buy order to commence stragey with take profit at 50pips.
if market moves down 50pips place next buy order with take profit again at fifty pips.
you place your orders with buy limits at 50pips intervals all the way down to 140 if you like or further and wait for price to come back and open your positions
you set the take profits at 50pips for all the orders and walk away.
when you return-provided the market has fallen to engage your orders you will be collecting the pips…
your first order in the sequence at the top is called your ‘loss leader’ and eventually when you finish a cycle and return to that position you would of collected 10000s of pips…
as the market bottomed in late january you can be assured that it will continue to rise for the next 5 to 10 years evetually heading back to price 240…
it is good for price to go down as this will engage your orders…always place orders below the price at let her come pick you up.
then you can be assured that price will rise and you will close the positions at 50pips profits.
if your a bit more adverturous try doing at 30 or 20pip intervals place your buy orders back down behind the price with take profits at 20 or thirty 30pips…
you will then start making and collecting pips without even thinking about.
lot sizes should be no larger than 5:1 of account leverage ie for every 1000 dollars only open positions of 5000 ie 50cent pips…
try it demo - as forex is risky!!
its a strategy for those who dont know what there doing and it works if you can manage your money - and it will work even better now especially with the markwt being where it is at now…
Herbie, dont let other people discourage you, if it helps you make money, well go for it, some times it can leed to pretty big DD’s and you need balls of steel, I work on a similar system which averages 2 to 3% daily and on good days 6%.:D:D:D
ah this has been tried already, check out rrams thread, hes been doing that for a long time. I would really caution you about trying this, most would blow thier account as the G/J is a hard pair to trade
you can be assured that it will continue to rise for the next 5 to 10 years evetually heading back to price 240…
that fortune telling skill must come in handy in these markets. Can you tell me the winning numbers of powerball so i dont even have to trade anymore? Also whos getting voted of survivor tonight is it coach lol!!!
pullice I totally agree with you here, the bottom line is as long as it works go for it … but will this really work?
well its an old system, its basically called averaging down and this always ends in a margin call. It sort of fools you because it works so well initially your confidence in the method makes you believe its infallible. I’ve done extensive testing on this method. I ran simulations and it did indeed double my account almost every month. However the end always came without fail … sometimes as much as 8 months later. By that time I was so confident in the method based on 8 months of excellent performance and greed I refused to believe the market would not go back up my way. But the end was always the same.
It may work if…
You’re very lucky and the market bounces up and down when you start out trading so you’re able to make money
2)you are disciplined enough to withdraw most of your profita each month so when the end comes and it invariably does come you still have some of your profit stashed away despite losing your live account.
3)you use extremely low leverage (this is a must)
There are times when the market goes hundreds of pips without retracing like when the bailout package was announced what do you do then? pray?
herbie thanks for the contribution but before recommending a method its best you test it yourself? Have you actually tried this method? The reason I ask is I have on the Eur/Jpy and every time no matter how I adjusted my tp or sl or leverage I always blew out.
a newbie will stand more of a chance making money with this method than any other - and they dont need to know nothin. especially under current market conditions,
try it and see - you,ll be suprised…
all you have to do is buy…
if you used this method from march through july/august last year you would of made a killing. This method should not have been used through july/august to january.
The market conditions are now ripe for this method to flourish
Ok, so you’ve just basically said with this post the method is absolutely useless. Because what you are saying is it works by trading in hindsight. So, it would work if we had seen the market already happened, got in a time machine and went back to the time the market was good for the strategy.
So, five months it would have worked and two months it would have lost. I don’t know any trader that will lose for two months straight and keep using the same strategy.
Do you trade this live? Or are you just postulating off of worthless backtesting and demoing?
I doubt you have traded live for any amount of time otherwise you wouldn’t post this tripe, “as the market bottomed in late january you can be assured that it will continue to rise for the next 5 to 10 years evetually heading back to price 240…”
Just because a pair hit’s what is POSSIBLY a bottom is absolutely no guarantee of any future behavior or reversal.
Trying to pick tops and bottoms is a typical noob mistake that ruins accounts if continued.
Frankly this sounds like some poop you copied from a scam site or horrible E-book. "its a strategy for those who dont know what there doing and it works if you can manage your money - and it will work even better now especially with the markwt being where it is at now… "
Gimmie a break, a strategy for those who don’t know what they are doing? I just don’t know what to say to that…
This method [B][U]does not work long term[/U][/B]… period… The cary interest is dead at the moment, which is one of the reasons this trading method came into conception. I watched a very experience trader who has or had a thread on it inthe other section, “rram” is the originator at least on this board.
Kiss your account good bye if you plan to try this.
You know it is still in a downtrend until G/J break 176.xx imo, It cant fall from 215 to 118 without some kinda retrace. How do you know theres not another big drop comming???
I somewhat agree with this pair in buy mode atm, but you have to be flexible and smart about it.
As a trader you have to be ready to trade what your charts tell you.
By the same logic if you did the opposite from sept to nov, you’d a made a killing to.
the only “buy” on the GJ was driven from the carry interest, but as its no longer realy any good, whats the point of doing that. trade her up and trade her down.
be assured a newbie stands more of a chance of making a profit with this method than any other. There are so many factors that will kill a newb account.
Trade this method and they will make a profit
rrram is definitely not an experienced trader - he is at best a chancer with no idea…As it turns out he gave up on his system just as the market turned…
it is all about the fundamentals…technical there is nothing to it.
the US has turned…the process back up will not be rapid.
the UK is starting to get better than expected results, and with the olypmpics there in 2012 things will start booming there in the next couple of years.
the US is now basing its future on sound economic foundations and it has been rudely shocked how close it came to losing it all. the world is tough competition and the US is in a great position to start the finacial rebuilding…
if a newb trades the guppy up and down they will loose there account quicker than the can say, "the phoenix is a top trader"
just playing her one way - placing orders conservatively every time she dips profits will be made - and they can get in anywhere…
Gimmie a break, a strategy for those who don’t know what they are doing? I just don’t know what to say to that…
I do know what to say to that…
[B]AAAAAAAAARGH !![/B]
Originally Posted by [B]Cdawg [/B]
This method [B]does not work long term[/B]… period…
…Kiss your account good bye if you plan to try this.
I understand [B]Cdawg [/B]to be an expert on trading this pair.
He has a complete thread on it and I have posted on that thread myself.
His comment above is to be trusted.
Originally Posted by [B]herbie [/B]
rrram is definitely not an experienced trader …
er…excuse me Herbie!! :mad: :mad: :mad:
Rrram is a veteran trader - an Honorary FX Member!!
Respect please!!
Originally posted by [B]o990l6mh[/B]
Why don’t you say good luck? That’s what’s needed…
A straight to the point answer!!
[U]In Conclusion :[/U]
Herbie, you are not trading this method yourself.
You are, therfore, full of talk - more accurately, hot air!!
Unless you trade this one yourself, you are in no position to speak from experience.
Therefore, your statements have [U]zero credibility[/U] with me at this stage.
I think I said it accurately in my first reply post…[U]you go first!![/U]
a 1000posts of cheering on guppy doesnt make you an experienced trader!!!
and besides the method as cdawg suggests is all rrram contributed to this thread - and he is a friend of mine - but that is beside a point - which i dont see you have.
this is a method for newbies to play and have fun with!
Sure buying dips is always a good idea, same with shorting rallies… The guppy ranges typically a thousand pips so why not trader her up and down if your smart about it. It was at 151 last week, than dropped down to 139… why would you miss out on that?
He gave up on the system cause it didn’t work in a down trend, he actually started doing the opposite for a while… thats the point this idea only works in a uptrend market, and any drawdown used to be compensated by the carry interest which is no longer worth it…
