Hi everyone. I'm sick of using too many indicators, having too many rules, watching news reports, listening to mentors with or no results. My goal is to perfect a simple system that creates positive monthly returns with little or no management within the day. Here it is. By the way.. please demo this.. this is a complete experiment so you can just watch my journal to see how it performs. I don't think it will work perfectly but I do believe it could lead to better ideas in the future. I want to make 40-80% a year return on my account.
Please advise me on your idea's.
System 1.
Buy usd/chf at 5-6pm pacific time with 1% of your equity.
Buy Eur/USD at 5-6 pm pacific time with 1% of your equity.
Day 1-
Close all positions by 4:59pm pacific time with negative or positive.
Day 2. , If 15 pips negative or less... start again tommorow.
If 15 pips negative or more. Double lot size and repeat day 1 procedure.
If positive, repeat above sequence with 1% equity
repeat above sequence. until day 5 and start back at 1% equity
I know the eur/usd and usd/chf have a strong correlation and I believe the variance could produce some results. I'm starting back testing as well.
I'm using oanda since it costs only 4 pips to hold both positions. (Demo)
Each day I will update
1. Total Profit or loss if I'm in the negative.
2. Number of days I've traded this method.
Systems I thought about which didn't make since.
system 1. (pound yen, carry trade according to stochastics.)
4hr gbp/jpy stochastics 12/6/6 trade 2% account.. no martingale here.
buy- on stochastics cross after one stochastics line must be over 20
14 rsi must be over 50
40 pip SL sell 1/2 lots at 80 pip gain.. close other 1/2 at the stochastic cross when line goe's below 80
sell- no sell orders.
I'll post results when I have an opportunity.
Please advise me on your idea's.
System 1.
Buy usd/chf at 5-6pm pacific time with 1% of your equity.
Buy Eur/USD at 5-6 pm pacific time with 1% of your equity.
Day 1-
Close all positions by 4:59pm pacific time with negative or positive.
Day 2. , If 15 pips negative or less... start again tommorow.
If 15 pips negative or more. Double lot size and repeat day 1 procedure.
If positive, repeat above sequence with 1% equity
repeat above sequence. until day 5 and start back at 1% equity
I know the eur/usd and usd/chf have a strong correlation and I believe the variance could produce some results. I'm starting back testing as well.
I'm using oanda since it costs only 4 pips to hold both positions. (Demo)
Each day I will update
1. Total Profit or loss if I'm in the negative.
2. Number of days I've traded this method.
Systems I thought about which didn't make since.
system 1. (pound yen, carry trade according to stochastics.)
4hr gbp/jpy stochastics 12/6/6 trade 2% account.. no martingale here.
buy- on stochastics cross after one stochastics line must be over 20
14 rsi must be over 50
40 pip SL sell 1/2 lots at 80 pip gain.. close other 1/2 at the stochastic cross when line goe's below 80
sell- no sell orders.
I'll post results when I have an opportunity.