Horizontal line system

Simple all that you need is horizontal line.
My entry trigger is 10 pips for gbp/usd set up your indicator TROBUYZONE to 10 pips above for buy and 10 pips below the open for sell.
for gold and for US 30 use 20 pips .my brokers use extra 0 to show to 20 pips so put 200.
Some use 2000 to mean 20 pips for us 30

place your horizontal line for daily open or any other level that you like
buy 10 pips above your horizontal line sell 10 pips below it
im using daily open line TRO -MODIFIED AND TROBUYZONE ,you can download it from here https://www.kreslik.com/forums/therumpledone
TP is whatever you can get before it goes against you.
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i never hold buy and sell at the same time.
The stoploss is 11 pips for gbpusd and 21 pips for usa 30
simple Don't Risk More Than You Can Afford To lose and never let your winner become loser.
there is pips to be me made both way..
manage risk and you will win with this system.
if you buy 1 full lot you can make USD$ 100 every 10 pips
GBPUSD move easy 20 pips or more away from the open .
some days price criscross the open horizontal line and there are days that price never returh to the open.
that's is trading
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make your own template with any other indicator

im short gbpusd

This is very simple. I literally know of hundreds of traders who use this methodology with a fair amount of success. I've often heard simplicity in trading is best. Good trading to you.

pips made

Its interesting how trading can be simple ...What are the best times to enter your trades from your experience?

buy
holding long going my way

where is your sl ?

Hello, it's Trading Systems forum. Where is the system?
Where is SL? Where is TP?
What is the RR? How long is it back and forward tested?

profit both way
72 pips away from the open to the downside

Makes sense to let a gap or some space to form between entry and open level. There's plenty of times where price immediately bounces around the entry level a few Candles after open, but once it comes back around to that level it aggressively moves through it

new trade upside

I'm not a fan of horizontal lines (unless measured), but if you must, find a Donchian Channel indi and apply it with time-based setting.
the indi job is to give you by the end of the period exactly high/low/50% (can be used as a standalone breakout system)

M30 setting for a day is 48 , other TF's can be adjusted according to bars/day



cheers,

This is not new and be shared by liunliun back in time.
A good read....
https://www.forexfactory.com/thread/...but-profitable?

price is strong
you entered 10 pips above the daily open line you are making pips

10 full lots
over 20 pipsmade

im using daily open line TRO -MODIFIED

Hello, may you please share your indi?

holding long ,if you missed to place your buy stop no problema,i entered late, that mean that i can enter at any point after the market move away 10 pips above or below the daily open horizontal line.
that is why is best if you focus just in gbpusd ,that way you only need to place your buy stop or sell stoporder in just one pair

you see no need to trade more thant one pair

Let's look at this day. Several questions about your method:
1. After how many green pips do you decide the price is going in your direction?
2. How many times during the 1 M30 candle can price cross the balance (DO) line? What do you do: open|close trade every cross or take one cross for one M30 candle only?
3. What is your SL on GU?
4. How do you decide when to take the profit?

Thank you