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100% fool proof, can't possibly go wrong system

  • #81
  • Oct 23, 2017 10:01am Oct 23, 2017 10:01am
Quoting Jason Rogers
{quote} Hello mw108, We’re always working to improve our spreads.
Thanks for the information, Jason. However, these Spreads are only for EURUSD and for prime time. All other pairs have higher Spreads. Especially for trading Gaps at off-hours, what this thread is mainly about.
Additionally you have to add the turnaround commissions on top of this. So the bottom line is that, no matter how you turn it, FXCM might have slightly better spreads here and there, but in the end isn't really that much better than other Brokers. Especially if you consider that you have to have a "Standard" account to get these Spreads. And since you increased your minimum deposit to £10,000 or €20,000 for a Standard account, this makes you pretty much unattractive now.
  • #82
  • Oct 23, 2017 10:15am Oct 23, 2017 10:15am
Quoting mw108
Still don't really understand. The TP is at the Close of Friday. Maybe you can show screenshot on what you mean?
Hey, do you have a template for the positions to be closed at the weeks end? I cant seem to get the EA to close the positions at the weeks CLOSE
Learn, a forex trader must, unlearn and relearn he will.
  • #83
  • Oct 23, 2017 11:08am Oct 23, 2017 11:08am
Quoting COGSx86
{quote} Hey, do you have a template for the positions to be closed at the weeks end? I cant seem to get the EA to close the positions at the weeks CLOSE
You mean the EA should close positions before next Friday's close?

So if the EA opens a position on Su / Mo and didn't hit neither TP nor SL, it should forcefully close the position latest at next Fr?
  • #84
  • Oct 23, 2017 12:04pm Oct 23, 2017 12:04pm
Quoting COGSx86
{quote} Hey maybe I dont have the right settings? I set the TP to 5000 to show the EA isnt closing the positions at the weekly close. http://prntscr.com/h0yq8x http://prntscr.com/h0yrmz
You're looking @ the wrong weekly close.

Typical Trade:
1-Friday Oct. 20 market close = 1.2000
2-Sunday Oct. 22 market gaps open to 1.2030
3-Enter short @ 1.2030 with target 1.2000(Friday close) and SL @ 50 pips (1.2070)

**Gap-close trading is not meant to hold a position for an entire week.
**I would use SL of 20 pips or less & close if gap doesn't close within 6 hours. Gaps usually close within a few hours.
**I would only trade largest 1 or 2 gaps. Check pre-market quotes sunday evening.
  • #85
  • Oct 23, 2017 12:08pm Oct 23, 2017 12:08pm
You can get current pre-market quotes on the weekends here. I'm not an affiliate, just trying to help.
Here's Tom with the weather.
  • #86
  • Oct 23, 2017 12:20pm Oct 23, 2017 12:20pm
Quoting COGSx86
{quote} Hey maybe I dont have the right settings? I set the TP to 5000 to show the EA isnt closing the positions at the weekly close. http://prntscr.com/h0yq8x http://prntscr.com/h0yrmz
What srt said above

You need to see "Gap Close Trading" and "Opportunity Trading" as two different features.

"Gap Close" is like srt said: Market closes at Fr at 1.2000 and opens on Su at 1.2030. You (or the EA) enter(s) short with a TP at 1.2000, which is at Fr close.

The "Opportunity" setting was an idea from the user senjamerah, who suggested to put a Buy / Sell Stop Order at the Gap close. You don't have to use it tho. Just set "Use_Gap_Opportunity" to False.
  • #87
  • Oct 23, 2017 2:56pm Oct 23, 2017 2:56pm
If it is 100% why all of you are not millionaires yet? Sell a house, sell a car, wife, mother in law, kidney, lung and go right ahead then... 100% !
  • #88
  • Oct 23, 2017 7:09pm Oct 23, 2017 7:09pm
Quoting srt
{quote} You're looking @ the wrong weekly close. Typical Trade: 1-Friday Oct. 20 market close = 1.2000 2-Sunday Oct. 22 market gaps open to 1.2030 3-Enter short @ 1.2030 with target 1.2000(Friday close) and SL @ 50 pips (1.2070) **Gap-close trading is not meant to hold a position for an entire week. **I would use SL of 20 pips or less & close if gap doesn't close within 6 hours. Gaps usually close within a few hours. **I would only trade largest 1 or 2 gaps. Check pre-market quotes sunday evening.
I disagree with you. The deal could be a day
  • #89
  • Oct 23, 2017 10:51pm Oct 23, 2017 10:51pm
Quoting Cjn
Pairs I trade: EURUSD, GBPUSD, AUDUSD, USDJPY, USDCAD, EURGBP, EURJPY, EURGBP Pretty conservative. I trade 5 lots and on average make € 1300 a week with 2 minutes of work. The gaps are filled about 99% of the time. My SL is 50, my TP is Friday's close. That's all. Enjoy your life! You'll have plenty of time to do everything you like. Backtest this and convince yourself. The only reason you could lose is when you decide to trade some more during the week.
Although this seems to work on most pairs you mentioned, I don't see that it works on EURUSD with 50 pips SL. @EURUSD the win/loss ratio es nearly equal (at least with that 50 pips SL) ...
  • #90
  • Oct 24, 2017 12:57am Oct 24, 2017 12:57am
Jz sharing my experience,

To pick the best pair for this strategy (bcoz sometimes u will see more then 3 pairs with nice gaps), i always look for:

1) strong friday candle ( pinbar/full body or morubozu)
2) gap direction

My BUY scenario....
If i found a nice bullish pinbar on friday, and the monday open price is lower than the friday close , i will open buy order with a big lough!!! Hahahahahha..

Do the opposite for sell

For the sell stop/ buy stop scenario, i will let u all observe the daily tf and try to find it first...do your homework and show your effort....no spoon-fed....

I repeat...observe the daily tf closely....and choose the best pair!
  • #91
  • Oct 25, 2017 3:02am Oct 25, 2017 3:02am
Quoting billbss
{quote} As soon as Sunday opens and you see the gap.
So, do you I open the trade immediately I see the gap so that there would be profit when it gets filled?
  • #92
  • Oct 25, 2017 5:54am Oct 25, 2017 5:54am
Quoting PFvicky
{quote} So, do you I open the trade immediately I see the gap so that there would be profit when it gets filled?
Theoretically.
I don't believe this method is tradable because of the wide spreads on Sunday open.
  • #93
  • Oct 25, 2017 9:02pm Oct 25, 2017 9:02pm
i think its working for people who can find a broker with fixed spread.
In US we have only 2 brokers and both don't offer fixed spread.
any trustful offshore broker with fixed spread for US residents anybody knows ,please let me know.
thanks
fred
  • #94
  • Oct 26, 2017 7:55am Oct 26, 2017 7:55am
Quoting fredgold3434
i think its working for people who can find a broker with fixed spread. In US we have only 2 brokers and both don't offer fixed spread. any trustful offshore broker with fixed spread for US residents anybody knows ,please let me know. thanks fred
"Fixed Spread" Brokers usually have different spreads for different time of days. I tried Fixed Spread account at FxPro, but it isn't really better either. It is actually the worst spread they can offer, just fixed.
  • #95
  • Oct 26, 2017 9:23am Oct 26, 2017 9:23am
Quoting mw108
{quote} "Fixed Spread" Brokers usually have different spreads for different time of days. I tried Fixed Spread account at FxPro, but it isn't really better either. It is actually the worst spread they can offer, just fixed.
I haven't found a US available broker without big Sunday open spreads.
  • #96
  • Oct 27, 2017 11:16am Oct 27, 2017 11:16am
Quoting fredgold3434
i think its working for people who can find a broker with fixed spread. In US we have only 2 brokers and both don't offer fixed spread. any trustful offshore broker with fixed spread for US residents anybody knows ,please let me know. thanks fred
My broker offers fixed spread tat I ave noticed to be stable. Fixed spreads do not widen, from what I see on the platform during trading hours. It does no widen even when the market is most volatile.
  • #97
  • Oct 27, 2017 11:38am Oct 27, 2017 11:38am
Quoting PFvicky
{quote} My broker offers fixed spread tat I ave noticed to be stable. Fixed spreads do not widen, from what I see on the platform during trading hours. It does no widen even when the market is most volatile.
Who is your broker?
If the spread is fixed, do the commissions greatly increase?
  • #98
  • Nov 19, 2017 3:54pm Nov 19, 2017 3:54pm
Very interesting approach.
Playing GAPS
The topic is a little dead, it is not in the interest of anyone to share knowledge about the relevant broker?
So where can you find out where we can check out brokers with fixed spreads?
  • #99
  • Nov 25, 2017 2:43am Nov 25, 2017 2:43am
Quoting jaguarxj1
If it is 100% why all of you are not millionaires yet? Sell a house, sell a car, wife, mother in law, kidney, lung and go right ahead then... 100% !
Reality is, there is no 100% in Forex! Yes, pro traders are making such a good amount of money but till now no 100%.
  • #100
  • Dec 24, 2017 5:09pm Dec 24, 2017 5:09pm
Quoting Cjn
I've been doing this for 6 years now and I think it's time to share it. Here's my system that has been paying my rent and then some for years and it's called: Trade the gaps. It takes about 2 minutes each week and the only thing you have to do is trade the gaps when markets open on sundaynight. Yes. It's that simple. Pairs I trade: EURUSD, GBPUSD, AUDUSD, USDJPY, USDCAD, EURGBP, EURJPY, EURGBP Pretty conservative. I trade 5 lots and on average make € 1300 a week with 2 minutes of work. The gaps are filled about 99% of the time. My SL is 50, my TP...
Would you explain which direction to trade?
If gaps up do you sell or buy?
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