Quoting QMGDislikedA little adaptation to the Daily Strategy that this thread has been discussing. It does require an account that allows hedging (I use interbankfx). At 00:00 GMT buy and sell the EUR/USD with a 50 pip stop loss and 15 trailing stop. Close out all open orders between 23:30 and 24:00 GMT.
The premise of this trade is to capitalize on the interday price activity. If you look at a candle chart most days will have shadows of at least 17 pips on the bottom if an up day and on the top if a down day. In these cases you'll have a profitable trade on BOTH trades. However, days when there are shawdows of less than 17 pips you lose (most of the times it is the whole 50 but somedays it will only be in the 30-40 range).
You will incur some days of losing 50 pips but the gains definitely offset those times. Here are the results from April to October:
April +458
May +184
June -3
July +333
August +573
September -35
October +140
Total Gain +1650
I'm currently running Novembers numbers. As for December it is currently up +175 pips.
QIgnored
Thanks for sharing your idea. Very interesting. My question is if you have tested on other pairs, like GBP. I know it gives more volitily and hence potentially more profit/risk.
Will be testing your method.
Thanks.
AndyL