i finally found the amazing scalping strategy i have been looking for all my life!!!!
EuroRiddle v1.0 (99.9% accuracy):
> you make 1 trade per day on the EURUSD
> your "day" ends at 4:59EST and starts at 5pm EST
> use 60 minute chart with the MACD and RSI on the chart
> each day at 5pm EST you start watching the chart. it may take hours and hours of watching the chart, but keep watching until the high or low for the day has been hit.
> as soon as the daily high or low has been hit on the 60 minute charts, switch to your 1 minute charts. if the daily high or low has also been hit on the 1 minute chart, the signal is confirmed.
> after the signal is confirmed enter the trade immediately. if it is the high for the day that has been hit, go short. if it is the daily low that has been hit, go long.
> set stop loss of 15 pips and a profit target of 25 pips.
what am i missing?
Do I need to use leaded or unleaded fuel on this baby?
Where do we find this strategy? Or did you just make it up?
Have any snapshots of your back testing?
just use this strategy for one night and you will see what i mean!
I am afraid I don't understand the explanation of this strategy. If your "day" starts at 5 pm ET, then by definition the first bid/ask that trades at 5 pm constitutes the high/low of the day. Every move after that will make either a new high or a new low -- how else can one determine whether it is the high or low of the day? Also, if we are looking for DAILY high/low, what difference does it make if we are on the 1 hour chart or the 1 minute chart? On either chart the price will be the same, if it's the high/low of the day it also will be the high/low of the hour and the minute. Also, you mentioned putting the MACD and RSI on the chart, but you did not explain what we are supposed to be looking for with these oscillators. What are you up to Merlin?
I think this is the Sleep Deprivation/ Mental Confusion Strategy
10 people died in a plane crash on the border of the US and
Canada. Where did they bury the survivors?
What's the use of MACD and RSI
I was wondering why you mentioned MACD and RSI as you did not explain how to use it in the rules mentioned (or maybe I did not get it).
If you don't put the MACD and RSI on your chart the brokers will never know where the high or low for the day are suppose to be on their charts
Second thing.Merlin,nice joke...tell us another one.
Also a refinement I came up with makes this system infinitely more profitable. Just use the exact same method for exit that is used for entry. If you enter at the high then exit at the low. If you enter at the low then just exit at the high. Duh!! This method backtests about 1500 percent more profitable even allowing for slippage.
You only thought it is the perfect system. Now it truly is the perfect system .. no pips are lost at all!!!!
The only thing you left out is the method you've been using to determine how I can know when the high or the low of the day has been hit. Someone else said every move is the new high or low of the day but that is far from true. It may be the high/low of the day so far, or it may be an inside move, but if the day begins at 5 and ends at 4:59 the high and low of the day are the extremes within that period. Now post that high/low determination method you use with this system and we're off -- trading our whole account every day. I've tried a few things but had limited success so far.
In my excitement I got kinda stupid thinking I had the answer and when I called the newspaper to negotiate a special deal where I'd get them to bump me up in the queue and deliver the next days news a day earlier and they just laughed at me. How embarrassing. Turns out it would take two days for them to deliver it here in Fiji so it still wouldn't work. Anyway please send me your indicator or whatever it is before I come up with any more dumbass ideas and embarass myself like that again.
PS. In a stroke of what I first thought was, well just general brilliance, I also tried setting the computer clock a day ahead to fool the computer into thinking it was tomorrow but it didin't work because now I was trading tomorrows data and still didn't have an indicator to determine the high or the low of tomorrow except by 4:59 when it was too late to place the trade. So I figured maybe I should set it a day behind but that didn't work either because I couldn't change the date on the dealing station to work on yesterdays data along with my charts. I called the MM to see if they would change the date on my dealing station so I could trade with yesterdays data because I already had a formula for getting the high and low of yesterday and the guy said it sounded like a great idea and the line just went dead after that. I'm not sure he took me seriously though because he didn't even ask for my account number. Hard to soar with eagles when you have to rely on rats to get anything done.
Did you backtest your system?
Interesting Merlin. Does your strategy have promise on other currency pairs?
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