Hi, Walt, How can you yield 4 winning trades out of every 5 trades or better, given a pattern with 60%-67% probability? I think it should be 3 winning trades out of 5. Thanks!
[/quote] I've observed that about 60% - 67% of the daily candles have trended in accordance with the prior day close. In other words, if the prior day's candle closed higher than its opening, then the next day's candle will have a 60% - 67% probability for also closing higher than its opening, which was the closing price of the prior day.
Simply taking advantage of this pattern can easily yield four wining trades out of every five trades, or better. Based on standard lot sizes, that's a profit of about $800 - $1,000 for every 5 trades - per day or per week.
I have been testing the following currency pairs: GBPJPY, USDJPY, EURJPY, USDCHF, & GBPUSD.
Please let me know if your backtesting or forward testing supports this assertion...
Thanks,
Walt[/quote]
[/quote] I've observed that about 60% - 67% of the daily candles have trended in accordance with the prior day close. In other words, if the prior day's candle closed higher than its opening, then the next day's candle will have a 60% - 67% probability for also closing higher than its opening, which was the closing price of the prior day.
Simply taking advantage of this pattern can easily yield four wining trades out of every five trades, or better. Based on standard lot sizes, that's a profit of about $800 - $1,000 for every 5 trades - per day or per week.
I have been testing the following currency pairs: GBPJPY, USDJPY, EURJPY, USDCHF, & GBPUSD.
Please let me know if your backtesting or forward testing supports this assertion...
Thanks,
Walt[/quote]