Dear friends,
I have been experimenting with this strategy.
I really would need your advice on this.
I seem to be getting profits every week on paper trading. Have not gone live with this yet because maybe I am missing something which, if am, I hope you can point it out to me.
In return, if this is truly something i have stumbled upon...feel free to use it and try it yourself.
Pair: EUR/USD
Chart: Weekly
Trade time: Open of Monday morning (GMT0000-my broker's timing)
I place 2 LIMIT BUY ORDERS:
BUY ORDER 1: 50pips above open
Buy order 2: 150 pips below open
I place 2 LIMIT SELL ORDERS:
Sell Order 1: 50 pips below open
Sell order 2: 150 pips above open
No stop loss.
I close all trades (including limit orders not activated) on Friday close of market.
Example:
The week of 2nd nov - 6 nov on my broker's chart (EUR/USD):
Open on Monday morning: (1.4704)
Close on Friday: (1.4846)
BUY ORDER 1: 50pips above open (1.4754) ----------> to be edited...
Buy order 2: 150 pips below open (1.4544) ----------> to be edited...
Sell Order 1: 50 pips below open (1.4654) ----------> to be edited...
Sell order 2: 150 pips above open (1.4854) ----------> to be edited...
I just noticed my error.
Im so sorry, there was an error in my excel calculations.
Let me work out the kinks and get back to you. damn...just when i got soo excited about this...lol
EDIT:
This strategy does not seem promising...after figuring out the error in my excel calculations...I just realised...this strategy is a winner if you do not include the pips and overnight charges...
but with all in...Im at 12 pip loss after looking at 7 weeks on my weekly chart. Biggest drawback was the example Ive given above....gave me -200pip loss
Sorry if I wasted anyones tme with this but Im glad I posted it here or I would not have realised my mistake.
If you can think of somethin similar or have read a similar strategy...please do share....
Thanks a lot for all your kind words...
I have been experimenting with this strategy.
I really would need your advice on this.
I seem to be getting profits every week on paper trading. Have not gone live with this yet because maybe I am missing something which, if am, I hope you can point it out to me.
In return, if this is truly something i have stumbled upon...feel free to use it and try it yourself.
Pair: EUR/USD
Chart: Weekly
Trade time: Open of Monday morning (GMT0000-my broker's timing)
I place 2 LIMIT BUY ORDERS:
BUY ORDER 1: 50pips above open
Buy order 2: 150 pips below open
I place 2 LIMIT SELL ORDERS:
Sell Order 1: 50 pips below open
Sell order 2: 150 pips above open
No stop loss.
I close all trades (including limit orders not activated) on Friday close of market.
Example:
The week of 2nd nov - 6 nov on my broker's chart (EUR/USD):
Open on Monday morning: (1.4704)
Close on Friday: (1.4846)
BUY ORDER 1: 50pips above open (1.4754) ----------> to be edited...
Buy order 2: 150 pips below open (1.4544) ----------> to be edited...
Sell Order 1: 50 pips below open (1.4654) ----------> to be edited...
Sell order 2: 150 pips above open (1.4854) ----------> to be edited...
I just noticed my error.
Im so sorry, there was an error in my excel calculations.
Let me work out the kinks and get back to you. damn...just when i got soo excited about this...lol
EDIT:
This strategy does not seem promising...after figuring out the error in my excel calculations...I just realised...this strategy is a winner if you do not include the pips and overnight charges...
but with all in...Im at 12 pip loss after looking at 7 weeks on my weekly chart. Biggest drawback was the example Ive given above....gave me -200pip loss
Sorry if I wasted anyones tme with this but Im glad I posted it here or I would not have realised my mistake.
If you can think of somethin similar or have read a similar strategy...please do share....
Thanks a lot for all your kind words...
