This system is based on the range of the first two trading days of the month, for a 5 week trading week.

This is called "the range" from here on.

**Logic**: The first two trading days of the month often form the high or the low of the month.This is called "the range" from here on.

- Find the highest high and the lowest low of the first two days of the month.
**Entry:**Open a buy order at 15% of the high and a short order at 15% break of the low.**Take Profit**: 100% of the range.**Stop loss**: 10% below the range for long; 10% above the range for short.- Optional: Break Even, close half the position at TP. Close the other half at the end of the month.
- Optional: Range must be at least 100 pips.
- Optional: Delete opposite order once a trade opens. However, if a trade opens, I do not delete the opposite order

See attached calculator and example trade.

This is an improvement on my previous system.

Sangui made an EA for the previous system. Thanks Sangui!

If you have a Sunday bar for the range, combine it with Monday.

Attached File

Calculator.xlsx 6 KB | 372 downloads