Simple GBPUSD Strategy (No Indicator Needed)

[melodica]

I assume on Monday we look for min/max price between Friday 21pm and Monday 8PM, and not Sunday/Monday, right?

No

between Friday 21pm and Monday 8[B]AM[/B]

[sascha]

Thanks, yes, 8AM of course

[Jay_D]

Hi Jay D:)

For example the current position to buy 1 lot, then we are prepared to sell stop 2 lots. so that if the SL of buy orders and sell positions on the losses of the order
covered by the order of buy sell. it constantly sustainable until we get
profit.

for ex. Last High price = 1.2300, last low price = 1.2200
High - Low = 100

1 lot buy stop 1.2300 SL 1.2200 TP 1.2400
1 lot sell stop 1.2200 SL 1.2300 TP 1.2100

price run buy stop…
1 lot buy 1.2300 SL 1.2200 TP 1.2400
pending order
2 lot sell stop 1.2200 SL 1.2300 TP 1.2100

price down SL buy…
2 lot sell 1.2200 SL 1.2300 TP 1.2100
pending order
4 lot buy stop 1.2300 SL 1.2200 TP 1.2400

price down and sell TP
delete pending order

Profit…:D:D

Cheers for that.

However, I must be the dumbest person around as that still doesnt make sense to me really.

Anyone else of just me…sorry.

Ill look again in the morning when my brain works (allegedly)

[melodica]

Results updated in post #3

[jennifer70]

Hi Melodica,

could you please double check the numbers you posted on thread 3 for the last 2 months? some weekly results are wrong, like week 6/15-6/18 the total is not +213 pips but around -80 pips. also week 6-21/6-25 the total is not -50 but -200 …

are the trades wrong or just the math? i will check all of them so that can figure out more precisely the winning percentage of this strategy.

strategy looks good anyway. Do u use stop orders or limit orders?

thanks for your time

[melodica]

Hi Melodica,

could you please double check the numbers you posted on thread 3 for the last 2 months? some weekly results are wrong, like week 6/15-6/18 the total is not +213 pips but around -80 pips. also week 6-21/6-25 the total is not -50 but -200 …

are the trades wrong or just the math? i will check all of them so that can figure out more precisely the winning percentage of this strategy.

strategy looks good anyway. Do u use stop orders or limit orders?

thanks for your time

Excuse me
You are true
It was just math mistake.
I edited mistakes.

I myself use money management 5% risk of my account in each trade.
So I do not notice pips.

[morisato]

Hello Melodica,

My results are same as yours except 19.8. I had a double 75 loss that day. First loss - sell stop activated at 8:24AM, SL touched at 9:41AM.
Second loss - buy stop activated 9:41AM, SL touched next day(20.08) at 9:20AM

(Time zone GMT)

Am I doing something wrong ?

[melodica]

Hello Melodica,

My results are same as yours except 19.8. I had a double 75 loss that day. First loss - sell stop activated at 8:24AM, SL touched at 9:41AM.
Second loss - buy stop activated 9:41AM, SL touched next day(20.08) at 9:20AM

(Time zone GMT

Am I doing something wrong ?

At August 19th the sell stop order did not activated.
My sell stop order was 1 pip lower than the lower price.
Maybe it is because of our brokers difference in prices.

[morisato]

Thanks you for your answer but I don’t see how it might happened. I’m trying to upload my screen or contact you by email but I’m not allowed since I have not enough posts. Please send me PM with your contact mail please. Thanks

[ayath]

Cheers for that.

However, I must be the dumbest person around as that still doesnt make sense to me really.

Anyone else of just me…sorry.

Ill look again in the morning when my brain works (allegedly)

Ok Jay …;)D;)

[melodica]

Thanks you for your answer but I don’t see how it might happened. I’m trying to upload my screen or contact you by email but I’m not allowed since I have not enough posts. Please send me PM with your contact mail please. Thanks

Your email address in this forum is private.
Users can not email you.

[morisato]

Thanks. I sent you mail. Please look at SPAM folder if it doesn’t arrive.

[Jay_D]

Tried out this strat for the past few days.

I stuck closely to Melodica’s rules for entry however I adjusted the take profit/stop loss levels to something more suitable for my situation - [I]A hard 25 pip stop loss and a 50 pip take profit level.[/I]

In my chart , the 2 black vertical lines is the time period we are working with as stated in the rules. The Buy and Sell entries are in accordance with his original rules as well. In this particular trade, once the Buy entry was hit, i set a stop loss of 25 pips and a tp of 50 pips.

50 pip profit on this trade.

can I ask how your results are going on this please?

Ta

Jay

[EpoXi]

Hi guys.
Since I have been very interested at Melodica system, with the help of some nice people from this forum I created a EA for it.

I found out that 7/8 of the difference between the High and Low is best for the Take Profit but you can change it back if you want.

Hope I helped.

[VeljkoP]

EpoXi
Was lloking forward to the ea, but the file seems to be ïnvalid"or corupte when I download it!? COuld you try uploading again or reziping?

Thank you!

[EpoXi]

No idea why you are getting this error.
Any way I uploaded also to MEGAUPLOAD:

megaupload.com/?d=9E58S15I

[Jay_D]

Results updated in post #3

Hi Melodica

Following this with great interest.

How long ago did you come up with this idea?

Also what is the reason you pick the high and lows between 9pm and 8am the next day - ie why specifically these times?

Cheers

Jay

[Jay_D]

Ok Jay …;)D;)

Ok still having stupid moment

are you saying we wait for a certain price to hit then move the stop loss? or have more than 2 orders open?

Sorry

[melodica]

Hi Melodica

Following this with great interest.

How long ago did you come up with this idea?

Also what is the reason you pick the high and lows between 9pm and 8am the next day - ie why specifically these times?

Cheers

Jay

I use this system for about 2 months.
9pm and 8am are the times when London is asleep.

[Jay_D]

I use this system for about 2 months.
9pm and 8am are the times when London is asleep.

I now you obviously want to get as many pips out per trade as possible but chances are you get high pip loss should the trade go wrong.

Have you tried lower amounts like 50 TP and 25 SL or 25 TP and 25 SL. I know Its a lesser amount, however, consistancy is surely better overall?

Cheers