Ok, I have been playing around with a new system that really seems to work well. I want to see how hard I can push it over the next 3 or so months and then switch to a daily strategy and only check the charts once a day. So, I started this thread to post the results and post the system for everyone to see.
I have an account that I use strictly for tests like this and over the last 2 weeks the new system has pushed it up about 65%. I will post statements beginning Monday night around midnight and continue until the end of the test.
Time Frame: 1 min.
Pairs: EURJPY, GBPJPY, and GBPUSD.
Method: 3 stochastics and 1 moving average.
Time of day: all day, I will trade when a setup shows up. The only exception is Sunday nights I tend to use more caution until London open just because of how the markets move.
Limits: none. I will exit the trade when the trend shows weakness.
Stops: Other side of moving average or 20 pips whichever is greater. I will manually close a trade early if there are signs of weakness or if I am in a small profit and it is getting near news time.
Risk: As much as I can tolerate. This value really isn't relevant to you so stick to whatever risk profile you can tolerate.
I will wait for all three stochastics to move either above 75 or below 25 then wait for a cross of the moving average. There are a few little tricks I use to keep myself out of bad trades and I will show those as they come up. There are patterns within the three stochastics that will show when there is a high probability of a reversal.
The stochastic values are 8,3,3 16,3,3 and 34,3,3 the attached inidcator only draws the main line and not the trigger line of the stochastic.
Moving average is 100 sma.
Target is around 200 pips per day but I will be disappointed if that is all I get. I have had days in excess of 700 pips trading this way.
I will try to update as trades happen but since this is based on the 1 min chart it may take a few minutes before I can stop and update this thread.
DISCLAIMER: DO NOT TRADE THIS LIVE. This is NOT meant to be trading advice nor is it trading recommendations. YOU assume full risk if you decide to trade using this method. If YOU are too lazy to put in the due diligence required to learn how to trade properly DO NOT COME CRYING TO ME OR THIS THREAD IF YOU LOSE MONEY! PERIOD!!!!
I have an account that I use strictly for tests like this and over the last 2 weeks the new system has pushed it up about 65%. I will post statements beginning Monday night around midnight and continue until the end of the test.
Time Frame: 1 min.
Pairs: EURJPY, GBPJPY, and GBPUSD.
Method: 3 stochastics and 1 moving average.
Time of day: all day, I will trade when a setup shows up. The only exception is Sunday nights I tend to use more caution until London open just because of how the markets move.
Limits: none. I will exit the trade when the trend shows weakness.
Stops: Other side of moving average or 20 pips whichever is greater. I will manually close a trade early if there are signs of weakness or if I am in a small profit and it is getting near news time.
Risk: As much as I can tolerate. This value really isn't relevant to you so stick to whatever risk profile you can tolerate.
I will wait for all three stochastics to move either above 75 or below 25 then wait for a cross of the moving average. There are a few little tricks I use to keep myself out of bad trades and I will show those as they come up. There are patterns within the three stochastics that will show when there is a high probability of a reversal.
The stochastic values are 8,3,3 16,3,3 and 34,3,3 the attached inidcator only draws the main line and not the trigger line of the stochastic.
Moving average is 100 sma.
Target is around 200 pips per day but I will be disappointed if that is all I get. I have had days in excess of 700 pips trading this way.
I will try to update as trades happen but since this is based on the 1 min chart it may take a few minutes before I can stop and update this thread.
DISCLAIMER: DO NOT TRADE THIS LIVE. This is NOT meant to be trading advice nor is it trading recommendations. YOU assume full risk if you decide to trade using this method. If YOU are too lazy to put in the due diligence required to learn how to trade properly DO NOT COME CRYING TO ME OR THIS THREAD IF YOU LOSE MONEY! PERIOD!!!!
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