Simple GBPUSD Strategy (No Indicator Needed)

Trading Systems Free Forex Trading Systems
133

When your looking for the max / min price to start, are you looking at high and low or the close only? Also you use exact numbers or round them at all?

Thanks!

134

high and low
in 4 digit charts i use exact numbers + 2 pips for entry

135

hey melodica,

you cant say 21:00 PM

you can say 9:00 PM or 21:00
:slight_smile:

136

Hey good day, Iā€™m Colombian and I am very interested your strategy, I have the FXCAST broker write you now and in my country are 2:47 pm or 14:47 and the 21:47 appears FXCAST broker, then as I put the hours in my platform of the 21 and 8??

Thaks

Luis F

Oye buen dia, soy Colombiano y me intereso mucho tu estrategia, cuento con el broker FXCAST en estos momentos te escribo y en mi pais son las 2:47 pm o 14:47 y en el broker FXCAST aparece las 21:47, entonces como debo colocar las horas en mi plataforma de las 21 y las 8???

Gracias

Luis F

137

its nice that you are making pips but your pip count is meaningless
without all the data.

Because your stop loss per trade always fluctuates so does all the pips.

lets say you risk $100 which is 5% of your account of $2000
DAY 1 - stop loss 50 pips which makes it $2 a pip
profit 30 pips = $60

                                              OR

lets say you risk $100 which is 5% of your account of $2000
DAY 2 - stop loss 25 pips which makes it $4 a pip
profit 30 pips = $120

As you can see these 30 pips do not equal each other

PLEASE UNCLUDE STOP LOSS PER TRADE
otherwise its called pip manipulation.

I am hoping its just a simple mistake on your end because a lot of scammers
do this and start a thread like this saying you just want to help.

EX james. , OZfx etc etc etc

All these people did pip manipulation

138

Hi

I use the same type of strategy since 5 month now, on real account. The rules are the same as melodica rules but I donā€™t use exactly the same hours of breakout.

I can say now that this strategy is profitable but be carefull of the drawdown. For exemple, may was a very bad month. I lost 30% of my account.

I have tested different hours, different pairs, different MM, differnet SL, different TPā€¦ But the result is the same, when the market is not in a trend, the strategy suffer of excessive drawdown.

If someone have a solutionā€¦

140

Hi kompakt74

What are your results so far ?

141

Thanks
Sorry for bad English

143

Could you tell me what you would do in the event the market moves outside of the Buy or Sell entry points please?

This morning (Friday 27 Aug) I calculated a Sell entry point of 15492, but the market fell below that level as I was trying to place my trade order.

Is it a case of going off for a cup of tea and waiting until the early morning movements have settled, or is it a no trade day?

Thanks,

Steve.

144

Yes but after just a few minutes it goes up so you could place that order

145

hey melodica,

yesterday I used your strategy in my demo account with 25 pips SL. Iā€™ve got +78 pips. Almost no time is requared. its nice!

Today -11 pips, but the trade is still running.

Do you have other strategy to share?
thanks

146

Tnx EpoXi!
I am backtesting but getting quite different results than Melodicaā€™s.
How did u backtest it?

147

Better results them Melodica?
I not sure actually, I think its because my EA for this system doesnt trade on friday and like I said, the T/P is 6/7(Its 6/7 not 7/8 like I said in the original post my mistake) from the High Low difference.

Keep in mind that the EA still not fully complete - I think that sometimes you get Error 130 but Iā€™m not sure so check it out.

Btw Melodica - I checked (not with the EA) some of your results and you have a lot of mistakes.
I wont mention each one, but I checked like 5 or 6 weeks and at least 3 of them is not ok.

148

You should wait if the price coming back or not.

Or you can enter with a lower T/P and S/L

But I suggest you set pending orders before the range breaks.

149

Thanks RenaLa
Thanks for your attention.
The basic strategy (in post #1) was not so Profitable in August.
Although it was not a loser too.
It was better in previous months.

But some friends like you made changes in S/L & T/P.
These changes made this strategy more profitable even in August.
So please share your changes and results here.

I will publish such strategy for USDCHF soon.
Now i am working on for the best settings.

150

Luis

I love Colombian films.

I found that your broker time zones is: GMT+1 (GMT+2 during summer time)

So you should look at 23:00 to 10:00 AM on your chart

151

Thanks for your post
I can show results by $.
But I think, with pips, every one can calculate his own desired risk & profit.

In this strategy the T/P & S/L are the same.

You can calculate the risk based on your own account balance and desired risk percent.

However I will publish results in risk 5% as i did in post #45

154

i am confused.
if you use the current high low 21:00 pm to 8:00 am

and set your pending orders at 8 am that would almost equal the current high or low of what you have analyzed

155

I dont keep records of my trades. I found your thread only few days ago
and tested only two days. Iā€™ll continue to test your strategy in my demo account this week.
It would be good to consider direction of the trend on daily chart and market volatility when placing SL and TP.

156

Teachers are gonna beat your hands for this :stuck_out_tongue: