If you use 10 Pip SL, AUDUSD is winner.
I used 7 pips SL on AUDUSD so it lost.
Read the first post
You also need to learn this system because its good.This system does not care about trend or what ever sick stuff in fx trading. just trade it and make profit.
Read the first post, i used 7 Pips and got SL. Backtest your charts and see for your self today
Donât have to. 45 pips up on EU already today. Another ten in the bag if I close two trades now. Do you research youâll see how I trade. Been there done that. What a waste of 2 years.
As I said you are on to a good strategy donât rest on your laurels.
You may be up 4000 Pips but how many %???
Im just up by 4% today. Thanks to 3 7 pip trades 
Easy as pie
Do the maths. I have sl at 5-10 pips tp same risk 2%. 6 wins, 65 pips. 1 loss 8 pips. One on now. But the market have been exceptional tonight or at least for me. Nights like tonight happen once or twice a month. Iâll loss half that at some point. Thatâs just the way it is. I know the limitations. Its your ability to flex and adapt to the markets that keep you in the game.
But its not what its about bro.
Why not take a good system and make it better.
Boys and Girls, lets not fight about who is right or who is wrong!
As long as both of you are making money and you are happy with the outcome, you are both good!
[B]Everyone has their own way of trading! Respect that![/B]
@absolute, waiting
Do you trade this strategy in a live or demo account or are the trades you post based on paper trading?
I am asking because I get different results here and thereâŚ
I have used this strategy (modified) with no stop loss and have 5 winners no losers. If daily open is below weekly and weekly is below monthly I go short and if daily is above weekly I go long. I have done these trades on a real account and am very happy. Will update as I continue with this journey. I believe in the simpler the system the better. This one make sense to me.
A couple of points in disagreement with you, respectfully.
The results difference between Waiting and Absolute is easily accounted for if they are using different brokers with different Market Clocks or even if they both didnât take the trade at EXACTLY the same time (which is VERY likely).
Oridinarily I would agree with you about letting your winners run but this is a SCALPING strategy so they carve off a piece and leave. Done. If they hold a trade, to let it run, itâs no longer a scalping strategy and they would need to re-evaluate targets, sl, etc. Holding on to scalping trades allows the market to show those teeth you mentioned. Also, being a scalping strategy, this is not reliant on major trends, just small intra-day trends that are signalled as they describe, so no worries there either.
And finally, say what you will, they are racking up the wins! Trading conservitively, 1%-2% of account balance per trade, their accounts are making about 5%-7% per dayâŚper DAY!
I havenât been able to trade this yet because of prior obligations, but absolutely will shortly!
I didnt mean to start an argument. Yes we do have different methods that work for each other, and i respect that.
In my point of view, this system is good. So others should give it a shot, they might end up happy using it
Lets see tomorrows results,
Cheers
I got same results as absolute.
i used 7 pips 1:1 Risk Reward
4 wins 1 loss.
I like this system because its scalp and we donât need to worry about other things. And we are getting a small bite out of a big timeframe breakout so theoretically the hit rate is high.
1:1 Risk reward is very decent for a scalper!
To all traders here on this thread - I recently released an EA for the [I]DayBreakTrail[/I] strategy that is discussed on the [I]PARMAR-3P thread[/I] (Post #661).[B] However, the EA can also be used to implement the different variations of the strategy discussed here.[/B]
It uses a Trailing Stop, but you can disabled it by setting the [I][B]TrailStop[/B][/I] and [B][I]TrailStep [/I][/B] to values higher than the [B][I]TakeProfit[/I][/B]. Then you can just set the [B][I]StopLoss[/I][/B] and [B][I]TakeProfit[/I][/B] in accordance to the variants you have here and you are set to go.
Obviously there are several other parameters involved which you can adjusted. I will be describing those in more detail on the [I]PARMAR-3P thread[/I]. So just follow it there and adapt them to implement the strategy here.
[B]PS! NB! Important - The EA in question does not filter trades based on Week and Month values![/B]
I hear you my friend but lets get a few facts right. This is not scalping. Even my technic is not scalping. Not in any sense. Its a simple day trading method. Secondly, itâs nothing new. Thirdly I see no evidence of live trading. And finally while your off collecting stones Iâll be picking up the diamonds you leave behind.
I never said this wasnât a bad system. But if a little effort is applied I think the boys could half their risk and double their return. In fact might give it a go myself if I can find some time.
no one use it with real money?
Thanks carino
Appears to be so. Demo traders once again pulling their puds thinking KISS means easy. There is no set and forget system in forex. Return equals effort.
There is no set and forget, but if we apply a bit of logic here, we can even increase win rate of system.
This system is worth trying compared to others with too many confusing rules.
Simple and solid ones is always the best option
Before you ask, you should put it on chart and see if if works. it is very easy to understand
Try it on demo and you might want to try it on live afterwards
Should i use a trailing stop at 7 pips or a hard stop?
Pigs bum! Demo account trading in a period of low volatility (summertime blues) on the back of a very bullish dollar means absolutely nothing. Not one person has mention the effects of slippage yet or spread. Why because youre all demo traders. Come across to the real world and weâll see how the system preforms. Trade this system live and you will blow your account. Do a little work, put in place some of those confusing rules, apply a solid MM plan and you will have the foundations of a solid trading psystem that will take care of you for years to come.