Hi all
I am not interested in in gambling with my money but investing it with minimum effort for a decent return. I came accross this method a few months back but when the Euro fell I got scared and got out, however if I had stuck with it my money would still be safe and I would have a good return.
[B]Will try and post a dailey update of my trades to show how this works[/B]
[U]Here are the steps to set up the sythem:[/U]
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choose a broker that does not charge SWAPS -Marketiva in my case
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Decide on a currency pair and Price range - EUR/USA 5400pips for me
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Frequency of trades - 15 pips for me
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using this method work out how much capital you need per 1cent
360 trades (5400/15) @ $0.55 ($0.01x5500%) = $198 -
capital to risk therefore value per trade - $1980 and $0.10 for me
[U]Method used:[/U]
A) open up a buy trade (I started at 1.38285)
B) set up an enter limit order to sell at the same price
C) put in 24 more orders, 12 buy orders & 12 sell orders, for example buy orders 1.3270, 1.3255 etc, sell orders 1.38300, 1.38315 etc)
D) once a day go into your trade platform, establish either a the matched trades closest to the current price or a new high stroke low nearest to the current price, sorry this is the hard bit but you will soon learn.
E) close all winning positions (bar the above) and set up fresh orders.
This method can be tricky at first and when currency is breaking new highes or lows but when it is trading mid range it only takes up about half an hour a day, just think what you could do with all that free time.
[B]Will post again monday night to show you this method in practice[/B]
