I came across this method surfing the web.
Its something i use every day and aim for 40 pips daily at 2% of bank.
I use intertrader advanced charts on a spread betting platform
They have low spreads of 1 to 3 pips on the markets i trade
as follows
GBP/USD ALL DAY
EUR/USD ALL DAY
DAX MORNINGS
WALL ST (30) DOW JONES
open a blank screen on 5 minutes 50 units
add pivots,bollinger bands
psar 0.10 0.11
go to indicator /backtest
add MACD 5 8 9 SETTINGS
Use Psar dot as entry stop loss and enter trade when macd and psar are both same colour
only on FIRST new red or green psar
on currencies i place target as 5/10 pips and sell 70% of position at first target
the remainder whether good or bad is on a trailing stop loss.
On indices there’s usually a good run a couple of times a day
I place target as 10/20 pips and apply sell 70% of position if 1st target reached and
leave the remainder to trailing stop loss.
On some occasions recently left 30 % of trade running and came back to 60 pips profit
far more than i expected.
40 pips is easily achievable and i’m allowing my account to compound and use 2%.
I have traded for over 10 years with mixed success and used to work in the city in the
fx settlements dept.
Very happy to recommend to all
i believe you’re talking about this strategy
forex-strategies-revealed Scalping system #4 (5 pips with GBP/USD)
but it talks about psar on macd, so it’s a slightly different.
could you share your template plz.
Thanks!
Sounds interesting can you post any screenshots of how you trade this system?
Whats your win/loss ratio so far (if you dont mind me asking).
Thanks,
Tave
please share your tpl on mt4. i have some confusion on the indicator setting especially the psar, which one is 0.10 and which one is 0.11.
Thanks very much!
no idea how to do screen shots
As i’m only looking for 40 pips takes about 8 trades
sometimes closes after 5 pips and retraces 5 to close leaving loss/breakeven
about 6/8 trades required.
I’m trying to improve 75% success rate by trading at busier periods in other reply
good luck
Hi
Have been trading this system 3 weeks.
i trade london and NY sessions but have achieved my target by 11am.
Having been trading various methods over the last 10 years ifound this the best.
I have traded at £100 per pip but found it uncomfortable so have reduced stake to £10 a pip
and only look for 40 pips x 5 days more than enough for me.
I am trying hard to stop myself overtrading and found it difficult.
I did one trade on wall st yesterday at 12600 at 14.30 when signal appeared on 10 pip trailing stop loss
and made 70 pips, far more than i expected.If you had kept trade running to change of signal you could have made
130 pips.
good luck
I closed out the computer to stop myself trading more.