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  • Post #1
  • Quote
  • First Post: Edited at 7:22am Aug 24, 2019 6:44am | Edited at 7:22am
Hi everyone,

This is my new strategy. its a set and forget strategy.
Nowadays i like set and forget strategy coz i dont have to stare the monitor all day long.
here is the strategy.

Pair GBPUSD/ EURUSD

Or you can choose others pairs.

The strategy is:
1. Look at the daily open
2.From daily open price set a buy stop(+100 pips from daily open) and sell stop at (-100 pips from daily open) this one we can optimize it using 50 pips or 60 pips.
3.Then tomorrow do the same. and everyday do the same.

Then what we need to do is:
4.Close the position when you have accumulated X amount of dollars( example: 10 USD, or 100 USD depends on the lot you open).
Use the EA, or you can close manually(prefer EA that can close all the positions if it reached X amount of dollars)
5.If you are in minus do the same 1-3 steps everyday until you get the X amount and close it.

*Right money management is important.
#you can do on many pairs. and accumulated all the profit
Dont open the lot too big.
coz we need to open the positions everyday and accumulated the lot and the right amount of money then close it.

Any comments and improvements are appreciated!
You can test the strategy and we can discuss anything in here.

Hope you all profit!
and hope you all have a happy life!
no comment.
hello zentrader
What is your stop loss strategy?
Thx
100 pips or 100 points?
Quoting cural
hello zentrader What is your stop loss strategy? Thx
there is no stop loss.. but we still hold the pending order if we havent close the position and take the profit.
so means if something happens, it will hedge on the other side .
then if we already take the profit, just delete all the pending orders and repeat the step 1-3 again.

As simple as that.
Quoting FxCba
100 pips or 100 points?
100 pips.
let's say we have an order from 100 pips above and below daily open and we have ten pips target
but the price turned around 7 pips and went to the opposite side.
In this case where we should place our stoploss
How did you come up with 100 pips? How long have you used this strategy? What $ amount do you suggest as a TP and SL?
Quoting zentrader8
Hi everyone, This is my new strategy. its a set and forget strategy. Nowadays i like set and forget strategy coz i dont have to stare the monitor all day long. here is the strategy. Pair GBPUSD/ EURUSD Or you can choose others pairs. The strategy is: 1. Look at the daily open 2.From daily open price set a buy stop(+100 pips from daily open) and sell stop at (-100 pips from daily open) this one we can optimize it using 50 pips or 60 pips. 3.Then tomorrow do the same. and everyday do the same. Then what we need to do is: 4.Close the position when...
I did give some more thoughts into this. I find it interesting. We still need to come up with right TP if not SL. I am thinking this can be traded on any pair. After some looking at various pairs, I think setting Stop orders at 2 x ATR of that pair and the TP to 1 x ATR might be way to go for this strategy. Let me know your thoughts? Also this can be very easily coded and back tested.
We just need to do more thinking about Market conditions that will create draw downs, I am still looking into what max draw down it could create. I feel tempted to do some kind of Martingale into this, but that would be killing something very simple
Quoting zentrader8
Hi everyone, This is my new strategy. its a set and forget strategy. Nowadays i like set and forget strategy coz i dont have to stare the monitor all day long. here is the strategy. Pair GBPUSD/ EURUSD Or you can choose others pairs. The strategy is: 1. Look at the daily open 2.From daily open price set a buy stop(+100 pips from daily open) and sell stop at (-100 pips from daily open) this one we can optimize it using 50 pips or 60 pips. 3.Then tomorrow do the same. and everyday do the same. Then what we need to do is: 4.Close the position when...
dont come up with this stupidity and post it as amazing strategy
Still learning. Telegram @jtprabu
how is your results?
What would you do if the Buy stop is triggered, price reverses and triggers the sell stop also ?
Quoting FX Compass
What would you do if the Buy stop is triggered, price reverses and triggers the sell stop also ?
You've just hedged it at max 200 pips.
Enter Signature
Quoting Don M
{quote} You've just hedged it at max 200 pips.
Yes, that is the problem. Buy stop would be -200 pips when sell trade triggers. Unless the sell is larger than the buy, it will be a big loss.
A ranging market is going to kill your account.
This strategy is just not going to work. I tried to come up with a way to make it work but I conclude this does not have any edge.
Quoting vijiragavan
{quote} dont come up with this stupidity and post it as amazing strategy

if you think it is stupid then it is, what ever you think it is right, then its right.
Sometimes great thing, comes from something stupid.
Quoting yalgaar
This strategy is just not going to work. I tried to come up with a way to make it work but I conclude this does not have any edge.
Have you try it?
Quoting zentrader8
{quote} if you think it is stupid then it is, what ever you think it is right, then its right. Sometimes great thing, comes from something stupid.
have you backtested this strategy? whats the rr or win rate? whats the difference between grid strategy and yours? no clear rules.. just entry signals.. it wont help anyone
Still learning. Telegram @jtprabu
  • Post #20
  • Quote
  • Edited at 9:47am Aug 26, 2019 6:09am | Edited at 9:47am
I have tried this strategy in XAUUSD , GBPNZD , GBPUSD etc. first buy stop triggered after some time market came down and hit the sell stop also.
my observation
1. In case both trades activated loss is fixed due to hedge.
2. In this scenario we have to come out with loss only.
3. if any one trade is activated then we came make some profit but we do it manually

This requires lot of back testings
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