Greetings all,
I've learned so much through these boards at Forex Factory. My best system so far has been the correlation hedge strategy that I'm still trading successfully.
I want to introduce a new method that has been very profitable for me for the past week. I know that is not a long time, but you have to start somewhere.
As are all my systems, this one is extremely easy to implement, does not require any monitoring of the market, and I've been increasing my account by at at least 2% per day with it.
Here it is:
Pairs:
Only EUR/USD and USD/JPY
Broker:
Oanda (or other broker where spread is close to 1)
Times:
USA open to close and London open to close
(all of the above because of extremely low spread)
Setup:
Preset your trades with a 1 pip take profit and a 10 pip stop loss. I know, horrible risk/reward ratio. But let me say it like this. In this past week of trading I have lost exactly 1 times and have won over 50. So I'm wanting to trade a system with a positive expectancy, not necessarily one with a good risk/reward ratio.
Size:
Use 20,000 units (2 mini lots) for every 1,000.00 in your account. That way you are risking 2% on each trade.
Rules:
At the top of every hour place a buy stop and sell stop order (Oanda calls them Limit orders) about 10 pips above and below the current price, on both pairs. Set the orders to expire in one hour. Walk away. Come back next hour and do the same thing. Rinse and repeat.
Be careful around psychological levels (.50 and .00) as market can run to those numbers and turn around, rather than keep going for a pip. I personally don't set orders at those levels, but choose something higher or lower.
So really, that is all there is to it. Demo this for a week and see if your account isn't up by a bunch!
I've learned so much through these boards at Forex Factory. My best system so far has been the correlation hedge strategy that I'm still trading successfully.
I want to introduce a new method that has been very profitable for me for the past week. I know that is not a long time, but you have to start somewhere.
As are all my systems, this one is extremely easy to implement, does not require any monitoring of the market, and I've been increasing my account by at at least 2% per day with it.
Here it is:
Pairs:
Only EUR/USD and USD/JPY
Broker:
Oanda (or other broker where spread is close to 1)
Times:
USA open to close and London open to close
(all of the above because of extremely low spread)
Setup:
Preset your trades with a 1 pip take profit and a 10 pip stop loss. I know, horrible risk/reward ratio. But let me say it like this. In this past week of trading I have lost exactly 1 times and have won over 50. So I'm wanting to trade a system with a positive expectancy, not necessarily one with a good risk/reward ratio.
Size:
Use 20,000 units (2 mini lots) for every 1,000.00 in your account. That way you are risking 2% on each trade.
Rules:
At the top of every hour place a buy stop and sell stop order (Oanda calls them Limit orders) about 10 pips above and below the current price, on both pairs. Set the orders to expire in one hour. Walk away. Come back next hour and do the same thing. Rinse and repeat.
Be careful around psychological levels (.50 and .00) as market can run to those numbers and turn around, rather than keep going for a pip. I personally don't set orders at those levels, but choose something higher or lower.
So really, that is all there is to it. Demo this for a week and see if your account isn't up by a bunch!