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100% fool proof, can't possibly go wrong system

  • #1
  • First Post: Oct 8, 2017 5:53pm Oct 8, 2017 5:53pm
I've been doing this for 6 years now and I think it's time to share it.
Here's my system that has been paying my rent and then some for years and it's called:
Trade the gaps.
It takes about 2 minutes each week and the only thing you have to do is trade the gaps when markets open on sundaynight.
Yes. It's that simple.

Pairs I trade: EURUSD, GBPUSD, AUDUSD, USDJPY, USDCAD, EURGBP, EURJPY, EURGBP
Pretty conservative. I trade 5 lots and on average make € 1300 a week with 2 minutes of work. The gaps are filled about 99% of the time. My SL is 50, my TP is Friday's close. That's all. Enjoy your life! You'll have plenty of time to do everything you like.
Backtest this and convince yourself. The only reason you could lose is when you decide to trade some more during the week.
  • #2
  • Oct 8, 2017 6:12pm Oct 8, 2017 6:12pm
Moved to Rookie talk. LOL.
Check my bio and take advantage. But please do yourself a favour and backtest this. No repainting, no BS.
The only thing you have to do is make sure you have a broker with fixed spreads.
  • #3
  • Oct 8, 2017 8:10pm Oct 8, 2017 8:10pm
Do you look at the gap between the high of the last bar or the close of the last bar and the Sunday open?
  • #4
  • Oct 8, 2017 8:12pm Oct 8, 2017 8:12pm
BTW, I'm sure if you changed the name of the thread, it wouldn't be in Rookie Talk. The moderators don't like the "100% No Lose" kind of stuff.
  • #5
  • Oct 8, 2017 11:20pm Oct 8, 2017 11:20pm
Quoting gilab
Do you look at the gap between the high of the last bar or the close of the last bar and the Sunday open?
He said the gap between Sunday Open and Friday's Close.
  • #6
  • Oct 9, 2017 1:27am Oct 9, 2017 1:27am
Sounds interesting... Do you have proof that it really works as you say? Maybe trade explorer of your account. Everyone can say their system works but we cant really know until we see some verified track record.
  • #7
  • Oct 9, 2017 6:21am Oct 9, 2017 6:21am
This is a method I have used to good advantage for many years. Certainly not 100% but I would rate it in the 90s. Most weekend gaps are closed & usually on the same day. You have to be careful as price can move further away before coming back to close the gap.
Conventional trading is for losers
  • #8
  • Oct 9, 2017 6:39am Oct 9, 2017 6:39am
Quoting xtradex
Sounds interesting... Do you have proof that it really works as you say? Maybe trade explorer of your account. Everyone can say their system works but we cant really know until we see some verified track record.
Why don't you simply look at the charts ? The rules are straightforward and easily observable ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #9
  • Oct 9, 2017 9:04am Oct 9, 2017 9:04am
I just did a manual back test for the past year on AUD/USD and USD/CAD
I ignored gaps of <10 pips. I used a 50 pip SL.
Oanda platform. I do not know if Oanda widens the spread at the Sunday open. I'll have to wait until next Sunday to find out.

AUD/USD
15 trades
15 W +253 pips
0 L
+253 pips net.

USD/CAD
23 trades
20 W +416 pips
3 L -150 pips
+266 pips net
  • #10
  • Oct 9, 2017 9:25am Oct 9, 2017 9:25am
Quoting Cjn
I've been doing this for 6 years now and I think it's time to share it. Here's my system that has been paying my rent and then some for years and it's called: Trade the gaps. It takes about 2 minutes each week and the only thing you have to do is trade the gaps when markets open on sundaynight. Yes. It's that simple. Pairs I trade: EURUSD, GBPUSD, AUDUSD, USDJPY, USDCAD, EURGBP, EURJPY, EURGBP Pretty conservative. I trade 5 lots and on average make € 1300 a week with 2 minutes of work. The gaps are filled about 99% of the time. My SL is 50, my TP...
Yeah Gap trading is nice idea and i did often . But interestingly how you place orders ..i mean lot size in random.
  • #11
  • Oct 9, 2017 9:26am Oct 9, 2017 9:26am
Quoting billbss
I just did a manual back test for the past year on AUD/USD and USD/CAD I ignored gaps of <10 pips. I used a 50 pip SL. Oanda platform. I do not know if Oanda widens the spread at the Sunday open. I'll have to wait until next Sunday to find out. AUD/USD 15 trades 15 W +253 pips 0 L +253 pips net. USD/CAD 23 trades 20 W +416 pips 3 L -150 pips +266 pips net
Hi Bill - this is worth a read https://www.learntotrade.co.uk/gaps-best-way-trade/
  • #12
  • Oct 9, 2017 9:52am Oct 9, 2017 9:52am
Quoting billbss
... I'll have to wait until next Sunday to find out. AUD/USD 15 trades 15 W +253 pips 0 L +253 pips net. USD/CAD 23 trades 20 W +416 pips 3 L -150 pips +266 pips net
I wanted to see how big the gap gets, I've only tested this weeks EUR/GBP so far.
EUR/GBP started this week with a 27pip gap, at which point the spread was 13pips = 14pip profit
(wouldn't be surprised if the spread was around 50% of the gap size on average)

If you have your data saved, pass it along and I can add a column for the spread and go back through history and fill in the blanks.. just an idea

Attachment g

Attachment g

Also bill, when you did your backtesting: did you take profit at the close of the Friday EOD candle? Or did you close out Friday like CJN?
  • #13
  • Oct 9, 2017 11:10am Oct 9, 2017 11:10am
Quoting billbss
{quote} He said the gap between Sunday Open and Friday's Close.
That much is clear. There are people who consider a gap the difference between the close of Friday and open Sunday and some who consider the gap the difference between the high of the Friday bar and the open on Sunday. I was asking which he uses. The gap between the high and open is much easier to see.
  • #14
  • Oct 9, 2017 11:19am Oct 9, 2017 11:19am
If anyone is interested, the Casino dashboard has a built-in gap trading strategy for the Sunday open.
  • #15
  • Oct 9, 2017 11:30am Oct 9, 2017 11:30am
Quoting gilab
{quote} That much is clear. There are people who consider a gap the difference between the close of Friday and open Sunday and some who consider the gap the difference between the high of the Friday bar and the open on Sunday. I was asking which he uses. The gap between the high and open is much easier to see.
I have no idea what he does. He didn't say.
On my back test, I just looked for a gap between Friday's close and Sunday's open. It isn't hard to see.
  • #16
  • Oct 9, 2017 11:37am Oct 9, 2017 11:37am
Quoting Sovereign1
{quote} I wanted to see how big the gap gets, I've only tested this weeks EUR/GBP so far. EUR/GBP started this week with a 27pip gap, at which point the spread was 13pips = 14pip profit (wouldn't be surprised if the spread was around 50% of the gap size on average) If you have your data saved, pass it along and I can add a column for the spread and go back through history and fill in the blanks.. just an idea 2511372 2511379 Also bill, when you did your backtesting: did you take profit at the close of the Friday EOD candle? Or did you close out...
No, I didn't save the data.
I used 4hr charts. I closed out the trade at either the SL or the close of Friday's 4hr bar. I don't know how he does it.

If the spread does widen on OANDA, I think I see a way around it. Most of the gaps are less than 10 pips. I noticed that if you wait on those until the difference in Sunday's price vs Friday's close is 10 pips, you can start the trade from there and do as well, if not better. The spread should have returned to normal by then.
  • #17
  • Oct 9, 2017 12:41pm Oct 9, 2017 12:41pm
I understand the TP and SL part. But at what time do I open the trade?
  • #18
  • Oct 9, 2017 1:24pm Oct 9, 2017 1:24pm
Quoting PFvicky
I understand the TP and SL part. But at what time do I open the trade?
As soon as Sunday opens and you see the gap.
  • #19
  • Oct 9, 2017 2:42pm Oct 9, 2017 2:42pm
Quoting billbss
{quote} As soon as Sunday opens and you see the gap.
I am also not sure how its done.
Will someone plse be so kind as to explain in more detail.
My broker also double/triple the spreads when markets reopen.
  • #20
  • Oct 9, 2017 3:27pm Oct 9, 2017 3:27pm
Sometimes, not always there is a cap between Friday close candle and Sunday open candle. Mostly the cap is filled within a few hours and some trades trade this possibility.


Quoting interbucks
{quote} I am also not sure how its done. Will someone plse be so kind as to explain in more detail. My broker also double/triple the spreads when markets reopen.
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