i continue the test with 5 pairs, the rule is the same.
Good result for only one pair.....
i'm try to do some little modifications.
Good result for only one pair.....
i'm try to do some little modifications.
Financial Freedom
1M & 5M Scalping System (Scalping Paradise) 21 replies
A switch: from part time trading to full time trading 8 replies
A system that works for a part time trader with minimum screen time 16 replies
Dear Full time/Part time Traders – Thanks for your time and help 7 replies
Part Time Wealth Building System - "High-Low Trending" 9 replies
DislikedJust an additional thought.
The Daily Scalping system is what I refer to as a "Natural Market Entry" system. On any given trade, you have a 50% chance of being profitable or unprofitable regardless of the system. With this system, you are using that chance at the very beginning of the market action. Rather than not participating in the market during a self imposed 50 or 100 PIP entry straddle, you can particapate immediately with the same entry risk as any other trade.
The great thing about the daily system is you basically eliminate the wait for your 50 - 100 PIP entry straddle to be activitated hence reducing your risk of being stopped out as frequently.
For my trading style the "Natural Market Enty" is great when combined with the weekly charts. The big obvious difference is when you take your profits. Hence, taking small daily profits or one larger weekly profit. Again, do what makes you feel comfortable.
I hope this is understandable...
Happy Trading...
TkimbleIgnored
DislikedHi Tkimble,
Your system looks good but Ican't even understand anything cos I m a newbie. pls is there anyhow you or anyone else can help me out with more explanations on this or any other system. I have actu
ally traded and lost some bucks and now I m confused.But i know with people like you in this forum there is hope for. so what do i do ? thanks.Ignored
DislikedLast week results: GBP/JPY
Dec 10: Buy 226.86 hit SL: 226.36 p/l: -50
Sell 226.36 hit SL: 226.86 p/l: -50
Buy 226.86 Close @ 228.51 p/l: +165
Total: +65 pips
Dec 11: Buy 228.51 hit SL 228.21 p/l: -50
Sell 228.21 close @ 225.38 p/l: +283
Total: +233 pips
Dec 12: Sell 225.37 hit SL 225.85 p/l: -50
Buy 225.85 close @ 229.56 p/l: +371
Total: +321 pips
Dec 13: Buy 229.55 hit SL 229.05 p/l: -50
Sell 229.05 price @ close: 229.05 p/l: 0
Total: -50 pips
Dec 14 Sell 229.05 hit SL 229.55 p/l: -50
Buy 229.55 hit SL 229.05 p/l: -50
Sell 229.05 Close @ 228.50 p/l: +55
Total: -45 pips
Total/Week: +524 pipsIgnored
DislikedDaily trading rule are as follows:
1. Create daily chart on any pair
2. Enter Buy/Sell order upon Sunday or Monday open at 2400 GMT. Order should be consistent with previous days trend (i.e; Previous day up, Place "Buy" market order, Previous day down, enter "Sell" market order at open)
2. Place opposite side trade 40 PIPS aways from initial market order (i.e.; if initial order was a Buy Place immediate Sell side order 40 PIP away from initial market entry)
3. If same trend for three consecutive days, place next days open order opposite of previous three days trend. i.e; If Monday, Tuesday and Wednesday were up days, Thursday would be a Sell order.
4. Use 40 PIP stops on all orders.
5. Close between 2300 and 2400.
6. Repeat trade rules at 2400 GMT.
No straddling the price entry. Enter market immediately with 40 PIP reversal companion order...
Happy Trading,
TkimbleIgnored
DislikedI'm a bit late to the party here but have been following and would have to agree with traderone and yezbick.
I have been tracking daily trades for a month with a few slight mods along the way. I'm doing max 2 trades per day. I've kept a track of results in this excel spreadsheet which also has the rules I've used.
While you can't draw too many conclusions in a month, so far:
- the GBPCHF isn't profitable (to date)
- the GBPUSD has been about breakeven
- and as everyone knows, the GBPJPY continues to be profitable.
Part way through I went from a TP of 100 pips on the GBPJPY to a split order, 1st TP of 100pips, the second left to run. So far (only about 2 weeks) there's not too much in it....can't really say one way is better than the other.
For what it is worth, my concern longer term would be that the GBPJPY has been the only real profitable one (using these rules) and at the moment it is way above it's typical daily ATR. So the risk is that it will end up like the others if the volatility dies down.
But for now the GBPJPY is certainly doing well, so thanks TKimble for sharing and good luck to those trading it. I will keep tracking it for now and can post an update down the track for those interested.
Cheers...Ignored
DislikedDaily trading rule are as follows:
1. Create daily chart on any pair
2. Enter Buy/Sell order upon Sunday or Monday open at 2400 GMT. Order should be consistent with previous days trend (i.e; Previous day up, Place "Buy" market order, Previous day down, enter "Sell" market order at open)
2. Place opposite side trade 40 PIPS aways from initial market order (i.e.; if initial order was a Buy Place immediate Sell side order 40 PIP away from initial market entry)
3. If same trend for three consecutive days, place next days open order opposite of previous three days trend. i.e; If Monday, Tuesday and Wednesday were up days, Thursday would be a Sell order.
4. Use 40 PIP stops on all orders.
5. Close between 2300 and 2400.
6. Repeat trade rules at 2400 GMT.
No straddling the price entry. Enter market immediately with 40 PIP reversal companion order...
Happy Trading,
TkimbleIgnored